AI in Finance: What are the Impacts on Business and Talent? - Online Free Press release news distribution - TopWireNews.com

It is no secret that technology has been transforming the way we work. Every day, new tools and applications appear to automate processes, making them more agile and precise. In the area of finance, especially in the tax sector, the use of Artificial Intelligence has become increasingly fundamental to eliminate manual errors, increase productivity and make the business more strategic – mainly in the UK – where 1,958 hours are spent per year to meet all tax obligations, according to the World Bank. According to the survey conducted by Thomson Reuters in partnership with Live University, 56% of British companies intend to use Artificial Intelligence to optimize tax management. When the debate is about which technology is more functional for the sector, 61% of professionals point to Machine Learning as the innovation most capable of benefiting the segment; 31% bet on Data Science, and 10% prefer chatbots. The fact is that these combined technologies should revolutionize the finance area, as has already been happening with banks, in addition to other sectors such as e-commerce and general service, due to their high precision in collecting and data analysis, problem-solving, and responsiveness.