Author(s)

Hao Pan ¹, Zhe Zhang ¹

Affiliation(s)

¹ The University of Nottingham Malaysia Campus, Nottingham, NG7 2RD, United Kingdom

Corresponding Author

Hao Pan

ABSTRACT

This article examines how artificial intelligence is having an impact on the automation of financial reporting and the accuracy of data at various levels. By combining machine learning, natural language technology, and a variety of other AI tools, we have the ability to significantly improve our current financial health. This study explores how AI can effectively improve the performance of traditional reporting mechanisms through careful analysis of current situations, daily life examples, and comparative evaluations. The document further highlights the challenges and risks that may arise in the progress of artificial intelligence, particularly concerns about the confidentiality of data and bias in algorithms. At the end of the study, we had an in-depth discussion about the way forward and identified the optimal protocol for adopting AI tools aimed at producing financial reports that are both reliable and accurate.

KEYWORDS

Automation Data; Data Accuracy; Financial Reporting; Artificial Intelligence

CITE THIS PAPER

Hao Pan, Zhe Zhang, Research on Automation and Data Accuracy of Financial Reporting Driven by Artificial Intelligence. Financial Engineering and Risk Management (2024) Vol. 7: 158-165. DOI: http://dx.doi.org/10.23977/ferm.2024.070621.

REFERENCES

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