Artificial Intelligence has occupied and captured the imagination of many throughout the globe over the past few years, but 2023 in many ways could be deemed as the break out year for the whole paradigm. OpenAI and Microsoft backed ChatGPT burst on to the scenes changing everything almost overnight. The surge in its prospects has also raised a lot of questions on what it could do to the present of many, and by extension, the future of all.
Scrutiny from different ends have come to pass, IBM in a research found that about 59 per cent of enterprise-scale organisations surveyed in India have artificial intelligence (AI) actively in use in their businesses, underscoring the extent of technology and its influence. The number procured in this reasearch for the Indian context is the highest among countries surveyed by IBM. However, many businesses are hesitant to move beyond the experimentation stage.
IMA findings on AI
Meanwhile, in another attempt at gauging the impact of AI, The Institute of Management Accountants (IMA), the worldwide association of accountants and financial professionals in business, has released 'The Impact of Artificial Intelligence on Accounting and Finance: A Global Perspective.' The report outlines how to embrace a future with artificial intelligence (AI) along with the challenges organizations can face and prerequisites needed for a successful AI integration.
AI will unlock untapped potential
Susie Duong, Ph.D., CMA, CPA, CIA, EA, senior director of research and thought leadership at IMA and author of the report said "AI is a game-changer that has the potential to empower accounting and finance professionals when it comes to data analysis, forecasting and decision-making, The use of AI will drive the future of the profession's growth, unlock untapped potential, and increase the value of professionals and organizations."
At the end of the day, AI and the extent up to which it can placate the world that we are a part of is something, that although known, is not entirely understood. In the due time, the picture will be clearer, and the world would have an answer to its answer, that is AI.
