ACCA BT Syllabus C. Business Functions, Regulation and Technology - Artificial Intelligence and Automation - Notes ^{2 / 5}

Automation and artificial intelligence systems is collectively known as intelligent systems

Here computers learn and then make decisions (without human input)

For example, whether to extend credit to customers.

Accounting Example

Recording of transactions in financial systems, by looking at a recipe / invoice. It can assign these transactions to appropriate nominal codes in the accounts.

This intelligence is achieved by the user recording the transactions manually a few times before the system learns what types of transactions should be assigned to which nominal codes.

For the Auditor

Systems are available that perform 100% checks, removing the need for an auditor to perform routine audit checks to verify transactions.

This means less time on simple, routine tasks and more on value-adding services, making better use of the professional knowledge and skills that they have.