Robotics and Artificial Intelligence in Finance world

With everyday grooming world and innovative environment, traditional way of working is changing now. There were a time when people were not familiar with computer and typical accountant were there to maintain the books, but with the passage of time we even cannot think to do the accounting without technology, whether its computer hardware or software available to us. Again a revolution has step in, i.e Artificial Intelligence (AI)- Robotics. Robotics is a domain in artificial intelligence that deals with the study of creating intelligent and efficient robots.

Whether AI/Robotics is going to replace human brains in accounting world?

Robotics/AI can only deliver correct results, when Inputs are in standard and structured pattern, again which is controlled by human brains not by technology. AI/Robotics works with a simple rule which applies in our life also i.e “Garbage in Garbage out”. In today’s environment AI is already leading the routine transaction processing but its on development phase to take up the next level of analytics & giving correct flow of information from unstructured input base.

Now its time to really think again, as a human being , when we need to scale up ourselves so that AI/Robotics which has already replaced the human being need by processing all the routine transaction & Up to some extent analytical reports ae well, should not replace the accountant world.

 Are we really ready to adopt the upcoming technology one day which can really eat up our Jobs/ Our presence in the market?

All education Institute needs to understand the emerging requirement & technology need to gear up next generation so that human being can survive in this robotic world.