Artificial Intelligence in Business, threat or opportunity

INTRODUCTION:

What is AI (Artificial Intelligence)▪ ArtificialIntelligenceisabranchofSciencewhichdealswithhelpingmachinesfindsolutionstocomplexproblemsinamorehuman-likefashion.

▪ AIisafilledwhichattemptstobuildintelligentmachinesandtriestounderstandintelligenceentries.

▪ Thisgenerallyinvolvesborrowingcharacteristicsfromhumanintelligence,andapplyingthemasalgorithmsinacomputerfriendlyway.

EvolutionofArtificialIntelligence

Where is AI Currently in use

ArtificialIntelligenceUsage

HealthCareTakingCareofthe

Elderly

AirportsCustoms

UsheringCustomers,Check

inSecurty

AgricultureDiseaseControl

AssetManagement

DataAnalysisandPrediction

EducationSector

SmartHomesEnergy

Efficiency

1. CHANGE TO ARTIFICIAL INTELIGGENCE

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ARTIFICIALINTELLIGENCEANDBIGDATA

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AIINSMARTHOMES/BUSINESSES&ENERGYSAVINGS(ALEXA DEMOTOFOLLOW)

SMARTHOME PRACTICALAPPLICATIONS

▪ TurnLightsonandOffRemotely

▪ OperateLightsatsay10%Brightness

▪ ScheduleGeysertoTurnon&off

▪ ScheduleAirconstoTurnonandOff

▪ ArmandDisarmAlarmSystem

▪ TurnonandOffApplicances eg Fridge,Microwave

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ARTIFICIALINTELLIGENCEINAGRICULTURE

▪ UsedtoTraceCropandAnimalDiseases

▪ UsedtoregulateTemperature

▪ UsedtoForecastWeatherPatterns

▪ IrrigationEquipmentRepairtracingofLeaks

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ARTIFICIALINTELLIGENCEINHEALTHCARE

▪ Diagnostics

▪ Prescriptions

▪ BodyLifting

▪ DiseaseAnalysis

▪ MedicalEquipmentManufacturing

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ARTIFICIALINTELLIGENCEINACCOUNTING▪ Accountantshavebeendeployingtechnologyformanyyearstohelpthemprovidebetteradviceandmakebetterdecisions.Technologycanhelpthemdothisbysolvingthreebroadproblems:▪ Providingbetterandcheaperdatatosupportdecision-making;▪ Generatingnewinsightsfromtheanalysisofdata;and▪ Freeinguptimetofocusonmorevaluabletaskssuchasdecision-making,problemsolving,advising,strategydevelopment,relationshipbuildingandleadership.

▪ Therefore,itisimportanttoidentifyaccountingandbusinessproblemswheremachinelearningislikelytobeparticularlyfruitfulandwhereproblemsmaybelesssuitableforthesetechniques.Thiswillensurethatadoptioneffortsaredrivenbybusinessneed,ratherthansimplytechnologycapabilities.

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ARTIFICIALINTELLIGENCEINACCOUNTING….CONTINUED

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deeplearningmodels.Todate,therehasbeenlimiteduseinreal-worldaccountingbutearlyresearchandimplementationprojectsinclude:

• Usingmachinelearningtocodeaccountingentriesandimproveontheaccuracyofrules-basedapproaches,

• enablinggreaterautomationofprocesses;

• Improvingfrauddetectionthroughmoresophisticated,machinelearningmodelsof‘normal’activities• andbetterpredictionoffraudulentactivities;

• Usingmachinelearning-basedpredictivemodelstoforecastrevenues;and•improvingaccessto,and

• analysisof,unstructureddata,suchascontractsandemails,throughdeeplearningmodels.

• Improvingaccessto,andanalysisof,unstructureddata,suchascontractsandemails,through

ILLUSTRATIONS

1.AlexausedtoManageDiary,ProvideInformation

2.AlexausedtoControlLightsinaSmartHome

3.AlexausedforAccountingapplications

ThisPhoto byUnknownAuthorislicensedunderCCBY-NC

DISCUSSIONWITHAUDIENCE:THREATS

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DISCUSSIONWITHAUDIENCE:OPPORTUNITIES.

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QUESTIONS&ANSWERS

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