AI pros and cons in finance and accounting

Abstract

Artificial Intelligence (AI) has emerged as a pivotal field within computer science, focused on crafting systems and software capable of performing tasks that traditionally require human intelligence. This study explores the pivotal question: What role does AI play in the domains of finance and accounting? It delves into AI's potential to develop models that not only mimic but surpass human capabilities in efficiency and accuracy. The investigation addresses the challenges and opportunities presented by the integration of AI in finance and accounting, evaluating both its advantageous and detrimental impacts. The findings advocate for a synergistic human-robot collaboration as an indispensable future strategy, underscoring the importance of optimizing this partnership to advance human welfare.