AI in Accounting & Finance – Is it Real?

For CPA Firms like Maner Costerisan, it’s definitely real. Artificial Intelligence (AI) and machine learning is quickly transforming the way we do audits, for example. But, is it just impacting the public accounting profession? Absolutely not. Here’s some of what you can look forward to in 2020 and beyond.

In a recent interview, Aaron Harris, the CTO of Sage, talks about the fact that future accounting solutions will be able to push “active insights” to finance leaders. When he says “Active”, what he means it the solutions will push the insights as soon as they are discovered so leaders can more proactively make decisions.

In the interview, Aaron outlined six future use cases where AI and machine learning can help the accounting industry in practical ways:

  1. Continuous analytics and performance monitoring
  2. Anomaly detection
  3. Continuous security monitoring
  4. Recommender systems
  5. Process automation
  6. Conversational AI and bots

The full interview is available on Sage Intacct’s website, if you would like to read more.