Thinking for the future – Artificial Intelligence and the financial services

Elena-Simona TACHE (buzățoiu)
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Elena-Simona TACHE (buzățoiu): “Valahia” University of Târgoviște, România

Theoretical and Applied Economics, 2023, vol. XXX, issue Special, Summer, 81-87

Abstract: Accounting and the entire financial field are among the fields with an extreme degree of exposure to human error. Although there are procedures to limit these errors, the accountant is subjected every day to unforeseen situations. These challenges value his expertise and capabilities, but, very often, rather his endurance and patience are put to the test, as there is an overwhelming number of tasks that could ideally be automated, limiting the range of errors. Artificial intelligence, already used in various fields, has an undoubted potential to streamline the processes of data extraction, expense prediction, and customer flow management synchronously. On the other hand, by paying more attention to the branch of artificial intelligence in the financial field, it is natural that data security will be improved, behavior forced by the fact that we will have to store and handle huge amounts of confidential data, and cyber security will not be a choice or a higher level, but a necessity.

Keywords: financial services; Artificial Intelligence; data security; accountant’s efficiency. (search for similar items in EconPapers)
Date: 2023
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