Artificial intelligence (AI) technology presents numerous opportunities for businesses and industries to leverage data for monetary gain and increased value. When used responsibly and ethically, AI has the potential to revolutionize the way we analyze and utilize data. This sentiment was echoed by experts during a forum in Hanoi on May 28-29.
One such expert is Mr. Pulkit Abrol, director of the Association of British Chartered Certified Accountants (ACCA) Asia-Pacific region, who emphasized the vast amount of data available in the ASEAN and Asia-Pacific regions. He pointed out that major technology companies like Google, Amazon, and Microsoft have highlighted the significance of data and the opportunities it offers. According to him, there is about $500 billion worth of data value that can be tapped into, but analyzing and utilizing this data poses a significant challenge. As a result, accountants need to upgrade their skills to keep pace with evolving technology in order to effectively harness and leverage data for accounting purposes.
Another expert is Ms. Helen Brand, CEO of ACCA, who underscored the role of AI technology as an opportunity to help accountants and auditors create more value. She stressed the importance of accountants in analyzing and utilizing data effectively, and emphasized the need for public and private organizations to invest in training accountants to keep up with technology advancements.
During the forum, Mr. Duleesha Kulasooriya, Managing Director of Deloitte Edge Center Southeast Asia discussed the opportunities and challenges posed by digital and AI technology in various industries including finance
