Artificial intelligence is gaining ground in the digitalisation of accounting – but still holds a lot of potential
The PwC study “Digitalisation in Finance and Accounting 2023” shows that almost 60 per cent of the companies surveyed are currently driving forward a comprehensive transformation of their finance function. Staff shortages and regulatory requirements are putting increasing pressure on the integration of technologies. Interestingly, just under 20 per cent of respondents stated that they would allow complete data extraction as part of the audit.
The economic potential of generative AI: The next productivity frontier
As the development of generative artificial intelligence (GenAI) progresses, there is enormous potential for the global economy. A new study by the McKinsey Global Institute (MGI), the economics think tank of management consultants McKinsey & Company, shows: GenAI technologies such as ChatGPT or DALL-E can theoretically enable annual productivity gains of $2.6 to $4.4 trillion.
News on the AI Act: The way to the trialogue is open
The latest Insights article from our member Taylor Wessing highlights the key changes to the Commission’s draft Artificial Intelligence Act, or AI Act.
Deutsche Bank Research: Launch of new topic page on AI
Due to the current relevance of the topic, Deutsche Bank Research only recently launched a topic page on “Artificial Intelligence”, which will be regularly updated with reports and analyses on the topic.
AI in the financial industry
The impacts of artificial intelligence (AI) on various areas of the economy and society have been discussed for some time. Now the release of text-based bots ChatGPT and Bard has brought the conversation about the opportunities and risks of AI to a new level. The CFS took this as an opportunity to conduct a survey on the prospects of AI in the financial industry.
Embedding AI in banking business models
In this article, our member KPMG reports on the challenge for European banks to find a balance between a sound digital transformation and managing the expectations of regulators.
Refinitiv rolls out MarketPsych ESG Analytics
Building on its commitment to drive positive change through its data and insight, Refinitiv announced the launch of MarketPsych ESG Analytics on 17 February 2021, a new analytics tool to provide numerical ESG insights on companies and countries based on news and social media monitoring in near real-time.
Projects on AI for Monetary Policy and Sustainable Finance
