AI (Artificial Intelligence) impact on businesses ProcessSubtitle

Agenda• What is AI (Artificial Intelligence?• Hottest Technology• Market Size / Potential• Accounting Systems/Reporting

Author – Paul Young CPA, CGA• 27+ years of corporate finance, business process changes and internal

audit/control • 12+ years of building financial solutions• Streamlined business process including reporting using analytical tools• Implemented cost to serve models (Pricing models• Blogger in areas like financial solutions, cost control,

management/regulatory reporting, risk management and government policies

• Academia experience in areas like advance accounting, advance management information system, financial performance management training/solutions and public finance

What is artificial intelligence (AI)?

the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.

Hottest Technology

Source – Next big Future – March 6, 2017

Hottest Technology

Source – Next big Future – March 6, 2017

Market Size / Potential

Source – Next big Future – March 6, 2017

Accounting Systems – AI and Reporting

Tools/Financial• ETL (Datawatch)• Analytics (OLAP,

add-ins, data warehouse, Microsoft Excel

AI and Finance• Analysis Credit Reporting and Accounts

Receivable• Analysis Inventory reporting (trends)• Liabilities/asset testing (pensions,

environmental, drug trials, capital asset utilization, supply chain (risk analytics, financial stress testing, automation internal audit procedures (test/analysis)

• Key market trends/Sales

AI and Office of Finance• Office of Finance is part of business decisions (finance

and cost)• Many business process could be automated (Big Data

=> analyzed => Management Reports)• Accounting Systems have over time reduced the need

for manual input (automation of processes)• Storing the rules (accounting, tax, pricing, etc.) and then

crunch the big data as part of analyzing the business• Cost controls (Internal Audit, cybersecurity, approval

processes)

Other sources• Close, Consolidate and Reporting Process -

https://www.slideshare.net/paulyoungcga/close-consolidate-and-reporting-cfo-and-office-of-finance

• Reporting Challenges for Business - https://www.slideshare.net/paulyoungcga/reporting-challenges-for-accounting-and-finance-january-2017