As the world moves from analogue to digital systems in every sector. there are some positive and negative impacts of this movement. Our major area of concentration in this article is on ever-dynamic finance and accounting subjects. before we move on we have to shed more light on the evolution of Artificial Intelligence (AI)

Evolution of artificial intelligence

The evolution of AI cannot be discussed without the work of Alan Turing in 1950s who proposed a test known as the Turing test to test if a machine could copy intelligence of humans in the 1960s,John McCarthy developed the first the first AI programming language known as LISP.

The 1990s enjoyed a move towards machine learning and data-driven approaches, driven by the increased availability of digital data and advancements in computing power. This period saw the rise of neural networks and the development of support vector machines, which allowed AI systems to learn from data, leading to better performance and adaptability. In the 2000s, AI research expanded into new areas, including natural language processing, computer vision, and robotics, paving the way for today's AI revolution.

Modern-day artificial intelligence

CHATGPT

The recent explosion of AI is largely attributed to the development of deep learning techniques and the emergence of large-scale neural networks, such as the Generative Pre-trained Transformer (GPT) series by OpenAI. GPT-3, released in 2020, is a prime example of how AI has evolved, boasting 175 billion parameters and demonstrating unprecedented natural language understanding and generation capabilities.

The success of GPT-3 and its predecessors is a testament to the potential of AI and has spurred further research and development in the field. The latest iteration, GPT-4, builds upon its predecessors and showcases even more advanced capabilities, pushing the boundaries of AI even further.

AI AND FINANCE AND ACCOUNTING

As earlier mentioned, AI has influences on all sectors of the world so finance and accounting are not left out of the development, it has affected the sectors the most. There are both negative and positive impacts of AI on finance and accounting as a subject matter.

POSITIVE EFFECT OF AI ON FINANCE AND ACCOUNTING

There are numerous positive effects of AI in the finance and accounting sector among them are;

1- Fraud detection and elimination

2-It help the company and its consumer in managing their finances

3-AI helps in cost savings and time because with AI the work of 100 people can be done with just one simple command

4-Lowering false positives and human error

5-Reducing the need for repetitive work

NEGATIVE EFFECT OF AI ON FINANCE AND ACCOUNTING

As widely acclaimed, no matter how good an invention is it will have some weaknesses. This also applies to AI in the finance and accounting sector, among the negative effects are as folows;

1 AI can lead to mass of job because with Ai the job of that is assig