As businesses move to more AI-generated modeling and higher forms of data analytics, we still need to apply common sense? In other words, don’t blindly trust the data. Image by Gerd Altmann from Pixabay This articles describes some of the pitfalls of not critically analyzing data output and gives some solutions. https://www.datasciencecentral.com/profiles/blogs/data-and-analytics-don-t-trust-numbers-blindly
Category Archives: Artificial Intelligence
Unintended consequence of AI
To develop a new Artificial Intelligence model, it needs to be trained. This is done by processing a large amount of data several times until the model works. With AI models becoming more complex, larger datasets are required to fully operationalize the model. This is taking significant amounts of computing power, and thus, electricity. In …
Change with caution
At a recent conference, Randy Johnston, founder of K2, spoke of the emerging technologies affecting the accounting profession. He also warned of giving into FOMO or the Fear of Missing Out. Most firms cannot adopt all of the new technologies at once. For the rest of his remarks, see the article on Accounting Today at: …
The ups and downs of Artificial Intelligence
The various forms of AI are poised to significantly change the accounting workforce. There are many benefits to using AI in the accounting functions, such as reduction of errors, the ability to process larger datasets and the availability of more data for decision-making. There are many downsides to the use of AI as discussed in …
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