Artificial intelligence (AI) is the ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and discernment Discuss the growth of artificial intelligence and its influence over the roles of accountants today. cite example.

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The growth of artificial intelligence has had a significant influence on the roles of accountants today AI technologies are increasingly being used to automate and enhance various tasks in accounting Here are a few examples Data Entry and Validation AIpowered tools can automate data entry reducing the time accountants spend on manual data input They can also perform data validation flagging inconsistencies or errors in financial records Advanced Analytics AI and machine learning can analyze large datasets quickly providing insights into financial trends anomalies and potential risks This assists accountants in making informed decisions and identifying opportunities Fraud Detection AI algorithms can identify patterns indicative of fraud in financial transactions potentially preventing financial losses These systems can continuously monitor transactions for irregularities Predictive Accounting AI can forecast future financial scenarios based on historical data and market trends aiding accountants in financial planning and budgeting Tax Compliance AI tools can help accountants stay updated on tax regulations and ensure accurate tax filings by automating calculations and flagging potential deductions or credits Customer Service Chatbots and virtual assistants powered by AI can handle routine customer inquiries related to accounting freeing up accountants to ... View the full answer