The Impact of Artificial Intelligence on Finance
Sokoli, Margarita (2023)
2023
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2023113032907
https://urn.fi/URN:NBN:fi:amk-2023113032907
Tiivistelmä
Artificial intelligence (AI), or differently called machine intelligence, is a simulation of human intelligence in machines. It is the intellect exhibited by machines, in contrast to the natural knowledge demonstrated by humans. Artificial intelligence consists of generally two fundamental ideas. First, it involves studying human brains like how their thought process works and second, it helps represent those processes through machine learning.
Artificial intelligence has taken over numerous sectors including the accounting industry. There is a significant research gap in the context of AI-driven workplaces on the particular skills that are required for the success of finance professionals. The fundamental goal of this thesis is to comprehend the effects of AI on the financial sector. The main goal is to gain a complete understanding of how AI works in financial services. The research objective also includes an investigation into the current AI skill gap in the finance sector.
Using a qualitative methodology featuring theoretical sampling and interviews with professionals in finance and AI, this research reveals diverse insights. The key findings highlight an overall positive reception of AI in finance, with professionals emphasizing its supportive role.
Nonetheless, challenges in the implementation of robotic process automation (RPA) are acknowledged, pointing towards areas that demand careful consideration. This study emphasizes the significance of addressing these challenges and fostering a more seamless integration of AI technologies in the financial sector.
Given that artificial intelligence is experiencing noteworthy changes at a quick pace, this thesis is a preview of the current application of artificial intelligence in the financial industry and how it is changing.
Artificial intelligence has taken over numerous sectors including the accounting industry. There is a significant research gap in the context of AI-driven workplaces on the particular skills that are required for the success of finance professionals. The fundamental goal of this thesis is to comprehend the effects of AI on the financial sector. The main goal is to gain a complete understanding of how AI works in financial services. The research objective also includes an investigation into the current AI skill gap in the finance sector.
Using a qualitative methodology featuring theoretical sampling and interviews with professionals in finance and AI, this research reveals diverse insights. The key findings highlight an overall positive reception of AI in finance, with professionals emphasizing its supportive role.
Nonetheless, challenges in the implementation of robotic process automation (RPA) are acknowledged, pointing towards areas that demand careful consideration. This study emphasizes the significance of addressing these challenges and fostering a more seamless integration of AI technologies in the financial sector.
Given that artificial intelligence is experiencing noteworthy changes at a quick pace, this thesis is a preview of the current application of artificial intelligence in the financial industry and how it is changing.