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From hype to reality

15 May 2019

One in three accountants believe AI is still “all or mostly hype”, while the rest (60%) say in three years’ time it will become a reality, according to a new global research from the ACCA.

The findings are published in a new report ‘Machine Learning: More Science than Fiction’, where those accountants surveyed say the adoption of machine learning needs to be based on legitimate business need, rather than just wanting to be seen as using AI!

The report also highlights the ethical challenges that lie ahead – accountants will increasingly need to align professional competence and due care with AI and machine learning.

The reports author, Narayanan Vaidyanathan, said as with any technology with power comes responsibility. He explained: “In the case of machine learning ethical considerations are never far away.”

Vaidyanathan stressed that at a minimum all finance professionals should know how AI is evolving and be alert to how the developing capabilities could overlap their impact on their roles. And, he said to prepare for the digital future the ACCA has enhanced the digital content across many of the exams.

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