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Thinking for the future - Artificial Intelligence and the financial services
- Source :
- Theoretical and Applied Economics, Vol XXX, Iss Special Issue, Summer, Pp 81-87 (2024)
- Publication Year :
- 2024
- Publisher :
- General Association of Economists from Romania, 2024.
-
Abstract
- Accounting and the entire financial field are among the fields with an extreme degree of exposure to human error. Although there are procedures to limit these errors, the accountant is subjected every day to unforeseen situations. These challenges value his expertise and capabilities, but, very often, rather his endurance and patience are put to the test, as there is an overwhelming number of tasks that could ideally be automated, limiting the range of errors. Artificial intelligence, already used in various fields, has an undoubted potential to streamline the processes of data extraction, expense prediction, and customer flow management synchronously. On the other hand, by paying more attention to the branch of artificial intelligence in the financial field, it is natural that data security will be improved, behavior forced by the fact that we will have to store and handle huge amounts of confidential data, and cyber security will not be a choice or a higher level, but a necessity.
Details
- Language :
- English
- ISSN :
- 18418678 and 18440029
- Volume :
- XXX
- Issue :
- Special Issue, Summer
- Database :
- Directory of Open Access Journals
- Journal :
- Theoretical and Applied Economics
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.25c9305fae404ebda772fd817a77169b
- Document Type :
- article