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Transforming Financial Control Through Artificial Intelligence: A Modern Approach To Financial Oversight And Analysis

Author

Listed:
  • Mihaela-Iuliana Dumitru

    (National University of Science and Technology POLITEHNICA Bucharest, Pite?ti University Center)

  • Consuela Dicu

    (National University of Science and Technology POLITEHNICA Bucharest, Pite?ti University Center)

Abstract

This study explores how artificial intelligence (AI) can revolutionize financial control, offering a modern approach to financial oversight and analysis. The use of AI in financial control enables the automation of repetitive processes, increases efficiency, and reduces human errors. The study highlights the benefits of employing advanced technologies, such as machine learning and predictive analytics, to improve the accuracy and speed with which financial risks and business opportunities are identified. It also discusses how AI can provide greater transparency and support strategic decision-making by delivering real-time financial insights. In conclusion, the study emphasizes the importance of adopting artificial intelligence to optimize financial control processes and enable more efficient and informed management of financial resources.

Suggested Citation

  • Mihaela-Iuliana Dumitru & Consuela Dicu, 2024. "Transforming Financial Control Through Artificial Intelligence: A Modern Approach To Financial Oversight And Analysis," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 23(3), pages 35-44.
    • Handle: RePEc:pts:journl:y:2024:i::p3:35-44
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    Keywords

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    JEL classification:

    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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