ROLE OF ARTIFICIAL INTELLIGENCE ON DECISION- MAKING SPEED AND ACCURACY AMONG FINANCE PROFESSIONALS

Artificial Intelligence (AI) is a branch of computer science. Here, machines are designed in such a way that they can perform tasks which normally require human intelligence such as problem solving, analyzing, decision making etc. Finance is the lifeblood of business. Decisions taken by finance professionals have a significant impact on future prospects of business. AI helps in analyzing huge volume of financial data in just few minutes. Due to advent of AI, the traditional decision-making process has been replaced by AI tools (Machine Learning, Natural Language Processing and Predictive Analysis). This study tries to analyze the impact of AI on enhancing the speed and accuracy of decision making. It tries to find how much finance professionals are dependent on AI for decision making. The study finds that AI tools have helped to reduce human bias and errors, but they can never replace human beings. Just that the roles of finance professionals will evolve from doing manual or routine tasks to being strategic advisors, AI ethic officers, AI product managers, AI auditors, Risk analysts, etc.