Artificial intelligence is fueling the use of robots for enhancing human perform

Question

Artificial intelligence is fueling the use of robots for enhancing human performance or entirely replacing humans. Autonomous robots can perform not only manual labor, but also tasks traditionally performed by white-collar workers. The use of robots—also called bots—for work began with the automation of structured repetitive tasks; however, advances in artificial intelligence will expand the use of bots to many tasks that require complex judgments for decision-making.

How will bots transform management and accounting? In what ways will humans and bots eventually come to work together?

Explanation / Answer

Surge of mechanical robots, drones and bots are augmenting, assisting, and, in certain cases, replacing human workers in almost every industry. These could transform the way we manage projects. As already aware that there are way too many data points to consider while managing a project. There is not enough time in the day or resources for monitoring all of them and their interrelationships. However if a firm is able to set up bots that could analyze all of the project data to spot patterns, find anomalies and make correlations, then bots could crunch mountains of data for the firm, aiding in the decision making and even taking corrective action. Bots are systematised in a way that they can perform a detailed analysis across scope, schedule, and budget and surface that information into a mobile device while manager walked to over to the planning meeting.

Robots are used to accounting work alongside human workers for several inventory and warehouse projects. These are better at lifting heavy objects, and working around the clock. It can help in translating of the collected information in accounting and auditing.

Software Bots are helpful to deliver value for clerical and spreadsheet processes that are rules based and repetitive; numerous transactional processes, data manipulation, and data analysis tasks can also be easily automated, thus permit accountants to focus only on those transactions that need nuanced human analysis and not to focus their time about routine high-volume transactions.

Thus, surge of robots, drones and bots are best suited for predictable work tasks where the cost per error is low and also the risk is properly managed. These can decrease costs and improve the quality of routine tasks. These could be the accounting digital assistants of the near future that will be completing the more predictable and mundane accounting tasks, both mental and physical.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.