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Artificial Intelligence (AI) is becoming an important and increasingly significant contribution to organizational performance. InArtificial Intelligence (AI) and the Accounting Function—A Revisit and...

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Artificial Intelligence (AI) is becoming an important and increasingly significant contribution to organizational performance. InArtificial Intelligence (AI) and the Accounting Function—A Revisit and a New Perspective for Developing Framework, Petkov XXXXXXXXXXexplores the introduction of AI into the financial accounting function of organizations.


Read the article and address the following in a 1-2 page paper:



  • Discuss some of the challenges that organizations might face when attempting to implement AI in their operations.

  • Propose two ways small businesses might take advantage of AI so they do not fall behind in an ever-evolving business environment.

  • Use two sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source slide at least one time within your assignment.

Answered 1 days After May 28, 2024

Solution

Khushboo answered on May 29 2024
5 Votes
An Introduction
Artificial intelligence (AI) has become one of the most important aspect for an organization and it has a vital role in accounting and finance function. AI is also having crucial role in business operations and there are various hurdles to be faced by entities at the time of adoption of AI. The cost of implementation is very high and it can be very expensive from overall organization cost perspective. Further, skilled and trained staff are required for AI adoption and there are various ethical and legal challenges for adoption of AI. Further, it can also be resulted in various legal and technological aspects which needs to be discussed carefully. AI has become an important aspect in cu
ent era and it will have significant impact on business operations and finance function.
Hurdles and Challenges to be faced during adoption of AI in business
There are various hurdles during adoption of AI in business. It may not be cost effective during business operations because cost of implementation is higher and the benefits from AI may not be higher than cost of implementation. Further, for implementation skilled and trained professionals are required and cost of such deployment can be huge or expensive. In addition to this, the employment of such experts is very expensive and very rare in the market in the cu
ent scenario. Thus, the entities that are having budget...
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