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A key benefit of AI in accounting and finance is its ability to quickly identify patterns in large datasets. By utilizing ML algorithms and NLP
A key benefit of AI in accounting and finance is its ability to quickly identify patterns in large datasets. By utilizing ML algorithms and NLP technology, businesses can swiftly detect patterns or discrepancies in their financial data that may have been previously undetectable. While AI can perform many accounting tasks, it cannot replace the human touch that accountants bring to their work. Accountants can develop soft skills such as communication, critical thinking, and problem-solving, which will enable them to add value beyond what AI can do. The need for a foundation in skills and ideas that enable growth, such as a commitment to lifelong learning, professional skepticism, and collaboration within a multidisciplinary model is extremely important for an accountant
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