28 Jul 2022

214

What is Artificial Intelligence (AI)?

Format: APA

Academic level: University

Paper type: Coursework

Words: 348

Pages: 1

Downloads: 0

Most of the leading businesses are incorporating AI to enhance productivity and achieve efficiency in their operations. AI is a part of the modern lives has it has been adopted in the smartphones, laptops and various other digital devices. Option A appeals to me because, with the correct use of robotics and artificial intelligence, training personnel to perform better should remove or at the very least reduce human errors, leading in more accurate and efficient financial reporting. Accounting jobs will become more intriguing as automation take over tedious tasks, resulting in increased accuracy ( Mitchell, Michalski, & Carbonell, 2013) . The machines will be carrying out most of the work for the organization. The personnel will be carrying out the commands that will be directing the robotics and other intelligence device on the various accounting activities and processes in the organization. This might drastically reduce payroll and other human costs by allowing accountants and bookkeepers to focus their specialized knowledge on interpreting and analyzing data instead of doing repetitive chores. AI will not completely replace accountants; rather, it will serve as a partner with whom they may collaborate to provide more effective services. In accounting, AI will assist with time-consuming, redundant, and repeated processes ( Russell & Norvig, 2002) . Consequently, payroll and labor expenditures are reduced. The processes carried in collaboration with the Artificial intelligence are more accurate than thought carried out by humans only. 

One of my favorite features of AI is its capacity to foresee outcomes and adapt to changing circumstances ( McCarthy, 2007) . This is quite useful for corporate financial forecasting. AI can also considerably lower expenses by obviating the requirement to pay actual people to complete tasks. The accounting department can almost totally operate on an AI system, which saves money on personnel training and other expenses. Overall, AI is a reliable system with tremendous, long-term benefits, which is why, as a business owner, I would invest in it. 

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Response to Amy Boyd 

I prefer option A because using AI for training and hiring will help monitor the quality of the employees' work and the impact on the business. Through AI technologies, the management team will be able to identify the employees that require assistance quickly. In addition, I believe training employees with AI will help equip the employees with the right skills necessary for rendering quality services. 

References 

McCarthy, J. (2007). What is artificial intelligence. 

Mitchell, R., Michalski, J., & Carbonell, T. (2013). An artificial intelligence approach . Berlin: Springer. 

Russell, S., & Norvig, P. (2002). Artificial intelligence: a modern approach. 

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StudyBounty. (2023, September 15). What is Artificial Intelligence (AI)?.
https://studybounty.com/what-is-artificial-intelligence-ai-coursework

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