THE TRANSFORMATION OF FINANCIAL ANALYSIS THROUGH AI: ACCURACY, EFFICIENCY, AND IMPLEMENTATION CHALLENGES

Abstract

The integration of AI into financial management is significant because it shifts the focus from simply increasing efficiency to also improving solutions and efficiency in financial analysis, optimization, and streamlining. This research focuses on the impact of AI on a variety of disciplines, including strategic decision-making, fraud detection, and risk management, while also considering practical applications. Acquiring this knowledge is crucial to maintaining business foresight, providing crucial information to financial managers in an ever-evolving landscape. The need to evolve business models and implement AI-enabled systems to process large volumes of data is becoming more relevant. The financial sector is part of the economic system that will impact the transition to the information age. After conducting the research, it can be deduced that despite the benefits associated with AI and intelligent systems, there is still a degree of opposition to their implementation. This resistance is associated with the dangers of AI, as well as the cultural factors that influence corporate behavior. Furthermore, the perception of how AI affects the sector differs significantly depending on the perspective adopted - by those who will directly interact with these tools - versus a strategic perspective.