INTELLIGENT VERTICAL: FINANCE
Accountancy and finance body ICAEW believes AI will have a bigger
impact as data becomes more abundant
increased the speed at which deals are
made. While panellists agreed that in the
near future some tasks will become obsolete,
others will be fully or partially automated
or, in many cases, redesigned to eliminate
or reduce the need for human input and
decision making.
AI could more accurately predict where the
market is going, what the trends are and will
be able to come up with strategies never
seen before.
Already algorithms can analyse up to 15
languages and make the necessary due
diligence before proceeding with the deal.
Panellists discussed how auditors can utilise
the best of what technology can offer to
drive quality and deliver on their mandate
to provide trust and confidence to the
capital markets.
One of the main points highlighted by the
experienced panellists was the fact that
technology can only help if the data it’s
being fed is of high quality, containing
meaningful information.
Since the process of manual data extraction
can be time and cost consuming, the scope
of the data or