AI continues to expand into different areas like healthcare, agriculture, scientific research and auditing. AI is still only touching the surface when it comes to its application, especially if AI can work with time-series data.

1. AI (Artificial
Intelligence)
impact on
businesses
Process
Paul Young, CPA, CGA
December 29, 2017

2. Paul Young - Bio
• CPA, CGA (1996)
• Financial Solutions (FOPM/FPM)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Financial Solutions
• SME – Advance Technology and Market
Entry
• SME – Supply Chain Management
• SME – Business Strategy and
Restructuring
Contact information:
Paul_Young_CGA@Hotmail.com

3. Introductory
• AI continues to expand into different areas like healthcare,
agriculture, scientific research and auditing.
• AI is still only touching the surface when it comes to its
application, especially if AI can work with time-series data.

4. Agenda
• What is AI (Artificial Intelligence?
• Hottest Technology
• Market Size / Potential
• Accounting Systems/Reporting

5. What is artificial intelligence (AI)?
the theory and development of computer systems able to perform tasks that
normally require human intelligence, such as visual perception, speech
recognition, decision-making, and translation between languages.

6. Hottest Technology
Source – Next big Future – March 6, 2017

7. Hottest Technology
Source – Next big Future – March 6, 2017

8. Market Size / Potential
Source – Next big Future – March 6, 2017

9. Can AI really create 800,000+ jobs by 2021?
This report says yes
• http://www.techrepublic.com/article/can-ai-really-create-800000-jobs-by-2021-this-report-
says-yes/?ftag=TREe01923b&bhid=23321323188161054569322732153870
New research from IDC, released by Salesforce, claims that
artificial intelligence (AI) will create 823,734 jobs by the year 2021,
surpassing the number of jobs lost to AI technologies such as
machine learning and automation. Additionally, the report predicted
that AI will increase global business revenues by $1.1 trillion in the
same time frame.
The two statistics mentioned above will both come about as a
result of "efficiencies driven by AI in CRM," the report found. And, if
one includes indirect obs, the number of jobs added by AI jumps to
2 million. "This is a net-positive figure in that it includes an estimate
of jobs lost to automation from AI," according to the report.

10. Accounting Systems – AI and Reporting
Tools/Financial
• ETL (Datawatch)
• Analytics (OLAP,
add-ins, data
warehouse,
Microsoft Excel
AI and Finance
• Analysis Credit Reporting and Accounts
Receivable
• Analysis Inventory reporting (trends)
• Liabilities/asset testing (pensions,
environmental, drug trials, capital asset
utilization, supply chain (risk analytics,
financial stress testing, automation internal
audit procedures (test/analysis)
• Key market trends/Sales

11. Market Size - AI

12. AI and Office of Finance
• Office of Finance is part of business decisions (finance and cost)
• Many business process could be automated (Big Data =>
analyzed => Management Reports)
• Accounting Systems have over time reduced the need for
manual input (automation of processes)
• Storing the rules (accounting, tax, pricing, etc.) and then crunch
the big data as part of analyzing the business
• Cost controls (Internal Audit, cybersecurity, approval processes)

13. Other sources
• Close, Consolidate and Reporting Process -
https://www.slideshare.net/paulyoungcga/close-consolidate-and-
reporting-cfo-and-office-of-finance
• IBM and AI - https://www.ibm.com/watson/
• Reporting Challenges for Business -
https://www.slideshare.net/paulyoungcga/reporting-challenges-
for-accounting-and-finance-january-2017