A case study perceptions and experiences on artificial intelligence in financial administration

Artificial intelligence is rapidly becoming a technology that has the potential to create significant competitive advantage for companies in different sectors of business, and financial administration is not an exception. While there have been some studies on AI from the ac-counting perspective, res...

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Main Author: Punnala, Santeri
Other Authors: Jyväskylä University School of Business and Economics, Jyväskylän yliopiston kauppakorkeakoulu, Taloustieteet, Business and Economics, Jyväskylän yliopisto, University of Jyväskylä
Format: Master's thesis
Language:eng
Published: 2021
Subjects:
Online Access: https://jyx.jyu.fi/handle/123456789/77118
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author Punnala, Santeri
author2 Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_facet Punnala, Santeri Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä Punnala, Santeri Jyväskylä University School of Business and Economics Jyväskylän yliopiston kauppakorkeakoulu Taloustieteet Business and Economics Jyväskylän yliopisto University of Jyväskylä
author_sort Punnala, Santeri
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description Artificial intelligence is rapidly becoming a technology that has the potential to create significant competitive advantage for companies in different sectors of business, and financial administration is not an exception. While there have been some studies on AI from the ac-counting perspective, research on the human perspective on AI in financial administration (or any other sector of accounting) is non-existent. This master’s thesis has been produced to fill the gap between technical AI research and subjective human perceptions. Research on the subject is especially important, since perceptions of financial administration personnel, especially those in management or executive positions have major impacts in how their organizations use AI, regardless of if they are true or accurate. The research of this thesis was conducted as a case study together with Snowfox Oy, that has since 2018 been offering one of the first AI-based solution for purchase invoice management in the world. The research material was collected through half structured thematic interviews of customers of the case company and the research material was analyzed with qualitative methods. Based on the results, AI is rapidly becoming a part of financial administration and other accounting processes, but there are clear challenges ahead in this trajectory. Most of these challenges seem to be related to human factors and the general understanding of AI-based technologies. This thesis was able to identify a significant number of motivators for using AI in financial administration, main challenges organizations face when implementing AI into their processes and a significant amount clearly defined and re-occurring benefits AI-usage has brought into financial administration organizations, such as better understanding of an organization's own processes. In the big picture financial administration personnel seem to have an overall positive feeling about AI, but the nature of the accounting field causes certain challenges in implementing the technology. The possibilities for AI utilization seem to appear mainly disorganized for professionals of the field, but the general potential of the technology has been recognized. The need for more education on the subject also came up in the research mate-rial, which correlates well with existing research.
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spellingShingle Punnala, Santeri A case study : perceptions and experiences on artificial intelligence in financial administration Laskentatoimi Accounting 20421 käsitykset havainnot kokemukset digitalisaatio tekoäly taloushallinto conceptions perceptions (mental objects) experiences (knowledge) digitalisation artificial intelligence financial administration
title A case study : perceptions and experiences on artificial intelligence in financial administration
title_full A case study : perceptions and experiences on artificial intelligence in financial administration
title_fullStr A case study : perceptions and experiences on artificial intelligence in financial administration A case study : perceptions and experiences on artificial intelligence in financial administration
title_full_unstemmed A case study : perceptions and experiences on artificial intelligence in financial administration A case study : perceptions and experiences on artificial intelligence in financial administration
title_short A case study
title_sort case study perceptions and experiences on artificial intelligence in financial administration
title_sub perceptions and experiences on artificial intelligence in financial administration
title_txtP A case study : perceptions and experiences on artificial intelligence in financial administration
topic Laskentatoimi Accounting 20421 käsitykset havainnot kokemukset digitalisaatio tekoäly taloushallinto conceptions perceptions (mental objects) experiences (knowledge) digitalisation artificial intelligence financial administration
topic_facet 20421 Accounting Laskentatoimi artificial intelligence conceptions digitalisaatio digitalisation experiences (knowledge) financial administration havainnot kokemukset käsitykset perceptions (mental objects) taloushallinto tekoäly
url https://jyx.jyu.fi/handle/123456789/77118 http://www.urn.fi/URN:NBN:fi:jyu-202107144303
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