Prospects for the use of artificial intelligence in financial accounting

Daria Trachova, Tetiana Davydiuk and Olena Demchuk

Management and Business Articles, 2023, vol. 1, issue 2, 171-191

Abstract: The use of artificial intelligence in financial accounting is gradually moving from the realm of purely scientific research to the practice of use by business entities. The results of the most popular area of artificial intelligence, namely machine learning in forecasting, error and fraud detection, are becoming commonplace and have had enormous positive results. However, in a dynamically changing economy, which is influenced by economic, political, and geopolitical indicators, not standard, but rather original, atypical solutions based not only on known algorithms but also on professional judgment and non-standard vision of an accounting specialist are of particular value. This is a promising area for the development of artificial intelligence and adds an economic and psychological component to technical and information processes

Keywords: accounting; financial accounting; artificial intelligence; forecasting; machine learning (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bdw:emsesd:v:1:y:2023:i:2:p:171-191

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