Intelligent CIO Middle East Issue 32 | Page 93

//////////////////////////////////////////////////////////////// INTELLIGENT VERTICAL: FINANCE FINANCE BODY: AI CAN BE A GAME CHANGER AS DATA USE BECOMES MORE EFFICIENT Accountancy and finance body ICAEW believes that fundamentals of merger and acquisition (M&A) deals in the GCC region have not yet been significantly affected by artificial intelligence (AI) and still rely on human cognition. But its view is that technology has improved the speed of transactions and is expected to play a bigger role in the future, especially as data becomes more abundant. I AI, for example, has the equivalent of decades of knowledge and experience: if fed the right data it can analyse great quantities of data over a vast period of time. Panellists discussed how advances in technology have positively impacted the speed of deal execution. At the same time, panellists agreed the fundamentals of M&A activity haven’t changed and it still remains a human activity irrespective of digital tools. Current technology allows multiple corporate parties in different jurisdictions to communicate, access data and exchange information instantaneously. In the context of M&A, technological advancements such as online data rooms, corporate search services and information databases have CAEW members and guests gathered in Dubai to discuss the impact of innovative technologies on deals in the GCC at the Capital Club in the Dubai International Financial Centre (DIFC). “ PANELLISTS AGREED THE FUNDAMENTALS OF M&A ACTIVITY HAVEN’T CHANGED AND IT STILL REMAINS A HUMAN ACTIVITY IRRESPECTIVE OF DIGITAL TOOLS. INTELLIGENTCIO 93