Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance
Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Author: El Bachir Boukherouaa

Publisher: International Monetary Fund

Published: 2021-10-22

Total Pages: 35

ISBN-13: 1589063953

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This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

AI for Accountants: Artificial Intelligence for Financial Management and Control
AI for Accountants: Artificial Intelligence for Financial Management and Control

Author: DIZZY DAVIDSON

Publisher: Pure Water Books

Published: 2024-09-02

Total Pages: 114

ISBN-13:

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Are you struggling to fully understand how AI can revolutionize your accounting practice? Are you looking to harness the power of artificial intelligence but don’t know where to start? “AI for Accountants: Artificial Intelligence for Financial Management and Control” is your definitive guide to navigating the complexities of AI in the accounting world. This book demystifies AI, providing clear, actionable insights into how AI can transform your financial management processes. From automating data entry to enhancing fraud detection, this comprehensive guide covers it all. Benefits of Reading This Book: Efficiency: Learn how AI can automate repetitive tasks, freeing up your time for strategic decision-making. Accuracy: Discover AI tools that reduce errors and improve the accuracy of financial data. Compliance: Stay ahead of regulatory changes with AI-driven compliance solutions. Insight: Gain deeper insights into financial trends and customer behavior through advanced analytics. Why This Book is Essential: Comprehensive Coverage: Covers all aspects of AI in accounting, from basic concepts to advanced applications. Practical Examples: Real-world case studies and examples to illustrate AI applications. Expert Insights: Written by industry experts with deep knowledge of both AI and accounting. Future-Proofing: Prepare your practice for the future by understanding the latest AI trends and technologies. Key Topics Covered: Automating Data Entry Fraud Detection Financial Forecasting Expense Management Tax Compliance Continuous Auditing Invoice Processing Customer Insights Risk Management Financial Reporting Budgeting Personalized Financial Advice Call to Action: Don’t get left behind in the AI revolution. Get your copy of “AI for Accountants: Artificial Intelligence for Financial Management and Control” today and unlock the full potential of AI in your accounting practice. Equip yourself with the knowledge and tools to stay ahead in the rapidly evolving world of finance.

Artificial Intelligence in Accounting and Auditing
Artificial Intelligence in Accounting and Auditing

Author: Miklos A. Vasarhelyi

Publisher: Berg Publishers

Published: 1988

Total Pages: 424

ISBN-13: 9780854961849

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A study of artificial intelligence in accounting and auditing. Topics addressed include: expert systems for audit tasks; REA accounting database evolution; fuzzy logic - treating the uncertainty in expert systems; bankruptcy prediction via a recursive partitioning model; and more.

Robo-Auditing
Robo-Auditing

Author: Patrick J. D. Taylor

Publisher: Lioncrest Publishing

Published: 2018-07-10

Total Pages: 120

ISBN-13: 9781544511443

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As CFO of a large company, you might have considered adding an artificial intelligence system into your financial operations to increase efficiency, boost profits, reduce waste, and detect fraud. Only you're afraid it might be too costly and complicated. Robo-Auditing can ease your fears, providing everything you need to know about this thrilling, cutting edge technology. As an engineer with an MBA, Patrick Taylor is uniquely qualified to demystify A.I. and demonstrate its many benefits. In this extraordinary, must-read handbook, he offers essential guidelines and information to help you: - Understand how A.I. works - Incorporate "robo-auditors" into existing financial networks - Train your team to use the technology effectively - And more Implementing an A.I. system doesn't have to be difficult, intimidating, or prohibitively expensive, and it can make an enormous difference in your day-to-day operations. Robo-Auditing is your passport into the exciting future of corporate finance.

Artificial Intelligence in Finance
Artificial Intelligence in Finance

Author: Yves Hilpisch

Publisher: "O'Reilly Media, Inc."

Published: 2020-10-14

Total Pages: 478

ISBN-13: 1492055387

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The widespread adoption of AI and machine learning is revolutionizing many industries today. Once these technologies are combined with the programmatic availability of historical and real-time financial data, the financial industry will also change fundamentally. With this practical book, you'll learn how to use AI and machine learning to discover statistical inefficiencies in financial markets and exploit them through algorithmic trading. Author Yves Hilpisch shows practitioners, students, and academics in both finance and data science practical ways to apply machine learning and deep learning algorithms to finance. Thanks to lots of self-contained Python examples, you'll be able to replicate all results and figures presented in the book. In five parts, this guide helps you: Learn central notions and algorithms from AI, including recent breakthroughs on the way to artificial general intelligence (AGI) and superintelligence (SI) Understand why data-driven finance, AI, and machine learning will have a lasting impact on financial theory and practice Apply neural networks and reinforcement learning to discover statistical inefficiencies in financial markets Identify and exploit economic inefficiencies through backtesting and algorithmic trading--the automated execution of trading strategies Understand how AI will influence the competitive dynamics in the financial industry and what the potential emergence of a financial singularity might bring about

Recent Developments in Financial Management and Economics
Recent Developments in Financial Management and Economics

Author: Derbali, Abdelkader Mohamed Sghaier

Publisher: IGI Global

Published: 2024-03-18

Total Pages: 458

ISBN-13:

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The field of Financial Management & Economics (FME) is constantly adapting to the changing economic landscape, observing the ongoing developments in the global business environment. These shifting dynamics have introduced a variety of influences, both fleeting and enduring, that deeply affect the decision-making foundations within the business arena. Researchers are tasked with shedding light on the bigger picture, capturing the essence of both subtle and significant shifts. As they confront unprecedented challenges, the imperative to document and comprehend these transformations resonates more urgently than ever before. Recent Developments in Financial Management and Economics is a work that beckons academics, researchers, and industry professionals to engage in the exploration of these changes. This book has a singular objective: to provide professionals, academics, and researchers with new theoretical frameworks and the latest empirical research findings. The book focuses on trust as a key driver, influencing different levels of Financial Management & Economics. It explores trust across the global economy and individual interactions in networked settings, offering guidance for navigating the complexities of today's interconnected financial and economic systems.

EBOOK: Management Accounting, 7e
EBOOK: Management Accounting, 7e

Author: Carsten Rohde

Publisher: McGraw Hill

Published: 2024-09-23

Total Pages: 903

ISBN-13: 152684981X

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Management Accounting is a market-leading textbook that offers comprehensive coverage of cost and management accounting, understanding information for decision making, planning and controlling budgets and reporting, and understanding performance management in a strategic context. The much anticipated seventh edition places special emphasis on employability skills, and spotlights latest environmental, social and governance considerations. The book offers a balanced discussion of management accounting theory and practice and has been tailored specifically to courses across the UK and Europe. Retaining its student-friendly writing style and practical approach, it is the ideal text for students studying management accounting, from introductory through to advanced levels. Key Features: • Clear, user-friendly style • Focus on Practice boxes in every chapter illustrate precisely how management accounting theory affects companies, using examples from well-known companies and industry sectors. • Management Accounting in Action dialogues demonstrate topical issues in real world scenarios. • Chapter links throughout provide quick cross-referencing to show the connections between topics. • Review Questions designed to test you on material learned in a more formal style. New to this Edition: • Brand new Focus on Practice boxes based on the CGMA Competency Framework to showcase the variety of job roles within the field of accountancy, and to highlight key skills they may require. • Updated discussions and new sections on sustainability and corporate social responsibility, big data and data analytics, risk management post COVID-19, and graphing skills. • Fully updated questions, exercises, problems, and cases are categorized by level of difficulty to offer progressive learning for students. • Applying Excel Exercises have been expanded to further support student Excel skills Available on McGraw Hill’s Connect®, the well-established online learning platform, which features our award-winning adaptive reading experience as well as resources to help faculty and institutions improve student outcomes and course delivery efficiency. To learn more, visit mheducation.co.uk/connect

Artificial Intelligence Approaches to Sustainable Accounting
Artificial Intelligence Approaches to Sustainable Accounting

Author: Tavares, Maria C.

Publisher: IGI Global

Published: 2024-04-01

Total Pages: 328

ISBN-13:

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In an age defined by unparalleled technological advancements, globalization, and the looming specter of environmental and societal crises, the need for a holistic and sustainable approach to accounting practices has never been more pressing. Academic scholars stand witness to the challenges posed by the new era, characterized by transformative shifts across industry, education, community, and society at large. These shifts, driven by rapid advancements in Artificial Intelligence (AI), present a double-edged sword. While AI offers unprecedented opportunities for innovation, it also amplifies the urgency of addressing sustainability concerns. Today's society grapples with the immense responsibility of achieving the Sustainable Development Goals (SDGs) outlined in Agenda 2030. It is imperative to not only understand but harness the power of AI to drive sustainability, enhance the quality of life, and ensure sustainable growth on both local and global scales. Artificial Intelligence Approaches to Sustainable Accounting serves as a beacon of knowledge, providing a comprehensive exploration of the intersection between AI, accounting, and sustainability. This book represents a vital solution to the challenges faced by academic scholars and practitioners alike. Within its pages lies a transdisciplinary approach that bridges the gap between these critical fields. Discover how AI can elevate accounting to new heights, extending the spectrum of information in organizational decision-making, promoting responsible reporting practices, and bolstering sustainable practices worldwide. This book not only reviews governance and management processes but also offers practical methodologies that empower organizations to embrace sustainability wholeheartedly.

Artificial Intelligence in Banking
Artificial Intelligence in Banking

Author: Introbooks

Publisher:

Published: 2020-04-07

Total Pages: 50

ISBN-13:

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In these highly competitive times and with so many technological advancements, it is impossible for any industry to remain isolated and untouched by innovations. In this era of digital economy, the banking sector cannot exist and operate without the various digital tools offered by the ever new innovations happening in the field of Artificial Intelligence (AI) and its sub-set technologies. New technologies have enabled incredible progression in the finance industry. Artificial Intelligence (AI) and Machine Learning (ML) have provided the investors and customers with more innovative tools, new types of financial products and a new potential for growth.According to Cathy Bessant (the Chief Operations and Technology Officer, Bank of America), AI is not just a technology discussion. It is also a discussion about data and how it is used and protected. She says, "In a world focused on using AI in new ways, we're focused on using it wisely and responsibly."

Artificial Intelligence in Accounting
Artificial Intelligence in Accounting

Author: Othmar M. Lehner

Publisher: Taylor & Francis

Published: 2022-08-05

Total Pages: 246

ISBN-13: 1000627330

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Artificial intelligence (AI) and Big Data based applications in accounting and auditing have become pervasive in recent years. However, research on the societal implications of the widespread and partly unregulated use of AI and Big Data in several industries remains scarce despite salient and competing utopian and dystopian narratives. This book focuses on the transformation of accounting and auditing based on AI and Big Data. It not only provides a thorough and critical overview of the status-quo and the reports surrounding these technologies, but it also presents a future outlook on the ethical and normative implications concerning opportunities, risks, and limits. The book discusses topics such as future, human-machine collaboration, cybernetic approaches to decision-making, and ethical guidelines for good corporate governance of AI-based algorithms and Big Data in accounting and auditing. It clarifies the issues surrounding the digital transformation in this arena, delineates its boundaries, and highlights the essential issues and debates within and concerning this rapidly developing field. The authors develop a range of analytic approaches to the subject, both appreciative and sceptical, and synthesise new theoretical constructs that make better sense of human-machine collaborations in accounting and auditing. This book offers academics a variety of new research and theory building on digital accounting and auditing from and for accounting and auditing scholars, economists, organisations, and management academics and political and philosophical thinkers. Also, as a landmark work in a new area of current policy interest, it will engage regulators and policy makers, reflective practitioners, and media commentators through its authoritative contributions, editorial framing and discussion, and sector studies and cases.