EXPLORING THE BENEFITS OF ARTIFICIAL INTELLIGENCE (AI) FOR ACCOUNTING: CASE STUDY USING OF SIMPLE ML (MACHINE LEARNING) FOR SHEET PROCESS

Abstract

Traditional financial procedures are being revolutionized by the integration of artificial intelligence (AI) and machine learning (ML) in accounting, which offers improved efficiency, accuracy, and decision-making skills. This article uses a case study using Simple ML for Sheet processing to investigate the advantages of AI in accounting. This paper offers a comprehensive overview of the effects of AI on accounting processes with a trial use of one of the AI tools, namely Simple ML for Sheets. The results show that by automating repetitive operations like data matching, anomaly detection, and trend forecasting, AI greatly increases the efficiency of data processing. Simple machine learning models have been used in sheet operations, showing a significant decrease in human error and producing more valid and trustworthy financial reporting. Furthermore, by evaluating real-time data and offering actionable insights, AI helps decision-makers make decisions more quickly and intelligently. Notwithstanding these benefits, the study also points out a number of practical obstacles, such as the requirement for in-depth training, a substantial upfront cost, and worries about data security and privacy. Enhancing professional development, making investments in AI infrastructure, making sure that data security protocols are strong, and encouraging interdisciplinary collaboration are some suggestions for optimizing the advantages of AI in accounting.