Scope of the Study
AI can also significantly reduce financial scams and reduce accounting errors, caused by human oversight. The rise of online banking has brought a host of advantages, but it has also created new avenues for financial crime, specifically around fraud. When used as part of financial planning & analysis (FP&A), machine learning is used to examine data in order to define or refine data models used for forecasting. The quality of the data set being used and the risk of inherent preferences may impact the quality of the predictions provided by machine learning. According to a study by Oxford University in 2015, accountants will be among the first professions affected by the rise of artificial intelligence (AI). Up to 95 percent of accountants will face some threat due to the innovative automation abilities provided by AI.
The market study is being classified, by Application (Automated Bookkeeping, Invoice Classification and Approvals, Fraud and Risk Management, Reporting and Others) and major geographies with country level break-up.
Microsoft (United States), AWS (United States), Xero (New Zealand), Intuit (United States), Sage (United Kingdom), OSP (United States), UiPath (United States), Kore.ai (United States), AppZen (United States), YayPay (United States), IBM (United States), Google (United States), SMACC (Germany) and OneUp (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Vic.ai (United States), Hyper Anna (Australia), Botkeeper (United States), MindBridge Analytics (Canada) and Bill.com (United States).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global AI in Enterprise Accounting market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global AI in Enterprise Accounting market by Type, Application and Region.
On the basis of geography, the market of AI in Enterprise Accounting has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The Growing Demand Due To Increasing Cases of Fraud Detection
- Rising Demand for Cloud-Based Solutions
- Increasing Demand for Enhanced Data-Based Advisory and Decision-Making
- Technological advancements in Artificial Intelligence
- Growing Demand for Intelligent Accounting Processes
- High Cost of Implementation of AI Technologies
- The Rises in Security Concerns
Key Target AudienceAI In Enterprise Accounting Providers, Service Providers, Government Regulatory Bodies, Private Research Organization, Government Research Organizations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase