AI enables machines to mimic humans in the way we solve problems and think. By copying human behaviour, AI can perform lots of essential tasks and process information more quickly and accurately. That’s why AI could have a huge impact on accounting – its processes can be readily mimicked by machine learning.
The AI software industry is one of the fastest growing tech sectors and the world market is thought to be worth $62 billion. In accounting, it’s forecast to expand by about 45 per cent a year and reach $16 billion by 2028.
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