Ai based accounting system

Abstract

The use of artificial intelligence (AI) , in particular in the accounting and financial management sector is the subject of this study. The field of research is the creation and application of an AI-based accounting system that can boost data-driven decision-making, automate a variety of accounting procedures, and increase overall financial operations. The topic of this study revolves around the utilization of artificial intelligence (AI) especially in the account and financial management division. The area of research is Cognitive accounting as a new AI-based system that can enhance the explanatory value of accounting information, automate many aspects of accounting and ultimately enhance the functionality of organizational financial processes. Through the utilization of artificial intelligence (AI) capabilities, such as computer vision, natural language processing (NLP), predictive analytics, and machine learning algorithms, enterprises may optimize accounting procedures, minimize human labor, and extract significant financial data insights. Human intervention, time consumption, and futile efforts in bookkeeping and accounting can be reduce by using AI abilities like computer vision as well as NLP, predictive analysis, and data mining & machine learning framework.