Artificial intelligence research in financial and accounting industry

Abstract

Purpose: This paper aims to show the need to use artificial intelligence in the accounting and finance industry. The constantly accumulating economic information about the activity of economic agents, the increased complexity and the improvement of information technologies are one of the main prerequisites for the huge impetus in the process of automation of operational reporting and financial analysis of economic indicators. Of course, this process does not go completely smoothly and it is necessary to gain experience and knowledge to achieve the highest degree of efficiency. 

Design/methodology/approach This paper has its own theoretical basis, and on its basis analyzes the main practical applications of artificial intelligence in the very specific work of financial advisors, accountants and auditors.

Findings This paper has its own theoretical basis, and on its basis analyzes the main practical applications of artificial intelligence in the very specific work of financial advisors, accountants and auditors. The theoretical understanding of the context of complex analysis in relation to the participants in the process - innovators - who develop algorithms. They are  such as the immediate participants who conceptualize these algorithms, comes to analyze the components of the process and ultimately conclude that environmental provocations do not they can exclude the presence of the human mind, and ultimately its ultimate solution.

Originality/Value This paper uses machine learning and artificial intelligence, and analyzes the benefits of their application in the financial and accounting industry.