A Study on the Strategic Evolution of Finance in the Age of AI
Deeksha S1*, Dr. Vetriprabhu2
Abstract
The rapid development of Artificial Intelligence (AI) in today’s world has had a significant impact on reshaping the fields of accounting and finance, shifting manual labor toward automated processes. This transition has facilitated easier workflows and high-speed data analysis. This article explores how AI influences the finance sector and how AI technologies, such as predictive analytics and machine learning, are used in day-to-day financial operations. The traditional shift from manual data application to automated processes and the extent of its impact on the modern era are explored herein. Key areas of focus include the automation of bookkeeping and advancements in fraud detection. While many individuals express concern regarding job displacement due to AI, this technology actually serves as a partner to workers rather than replacing them entirely. Finally, the article addresses the impacts and challenges of AI, including transparency and data privacy. By analyzing current research, this study concludes that while AI provides immense efficiency, humans remain essential for decision-making and judgment within the financial ecosystem.
Keywords:
Artificial Intelligence, Accounting and Finance, Financial Operations, Advancement
