See how Artificial Intelligence (AI) can reduce human efforts by automating various accounting processes like keeping track of the order status, doing the critical task like audits, tax filing, and segregating data according to corresponding categories so that you can strengthen your client relationship.

1. WHAT IS ARTIFICIAL
INTELLIGENCE AND ITS
IMPACT ON ACCOUNTING

2. WHAT IS AI?
Artificial Intelligence (AI) is a man-made
brainpower processes by machines, especially
computer systems which includes reasoning,
learning, and self-correction. AI application
include expert systems, machine vision, and
speech recognition.
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3. ✓ AI enables humans to make predictions based on patterns
and data
✓ AI helps you with mundane tasks that you need to
accomplish on a daily basis
✓ Since AI helps in intensive data you get more time to focus
on complex tasks
✓ AI is a good fit for those industries that require an error-
free approach like in accounting industry
BENEFITS OF AI

4. Accounting profession has existed since the pre-historic
times.During it's long journey, it has seen many
transformations as a result of the changing world and the
resources available.
Accounting software exhibits superior performance in
comparison to traditional method of pen-paper based
accounting. This evolution of technology led to the
digitization of the entire accounting process.
These software uses AI capabilities to automate tasks such
as data entry, account payable, reconciliation, and more.
AI AND
ACCOUNTING

5. ✓ AI can help to automate tasks like payment processing,
invoicing, and updating inventory
✓ AI can keep track of the status of orders as well as
purchasing
✓ AI helps accountants to segregate data into the
corresponding categories
✓ AI can do critical task like audits, tax filing, payroll, and
banking
BENEFITS OF AI
IN ACCOUNTING

6. Accountants can use AI and leverage AI capabilities to help
their clients in more critical financial matters and utilize their
time better, develop financial strategy and strong client
relationships.
As AI can automate and perform accounting tasks without
human intervention, it does not mean accountants have
something to worry about. Accountants need to adapt new
methods of operation and accept AI with open arms.
HOW WILL AI IMPACT
ACCOUNTING IN
FUTURE?
According to Forbes,
By 2020, along with accounting tasks, other tasks such
as tax, payroll, audits, and banking will be fully
automated using AI which will disrupt the accounting
industry.

7. About Us
Real Time Data Services Private
Limited (RTDS) is a global information technology,
consulting and outsourcing company serving clients in
multiple locations across the globe.
We command a substantial reputation, especially in cloud
hosting of accounting software, business applications, and contact center
solutions.
For more information, visit: www.myrealdata.in

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References
The Rise of Artificial Intelligence and Its Impact on Accounting - Real Time Data Services Pvt. Ltd.
How Artificial Intelligence Will Impact the Accounting Industry? - Ace Cloud Hosting