According to experts, artificial intelligence (AI) technology is bringing many opportunities. If used correctly, AI can be used responsibly and ethically, it can turn data into money and more value.
The information was said by Mr. Pulkit Abrol, director of the Association of British Chartered Certified Accountants – ACCA – Asia-Pacific region during the Forum held on May 28-29 in Hanoi.
He assessed that the Asean and Asia-Pacific regions have a huge amount of data available. Statements from major technology companies such as Google, Amazon, Microsoft… all show the importance of data and the great opportunities it brings. “It is estimated that there is about $500 billion in data value that we can exploit.” But according to him, analyzing and exploiting data is a big challenge, so accountants need to upgrade to keep up with new technology to be able to exploit and do better accounting.
Mr. Pulkit Abrol said that artificial intelligence (AI) models can support the accounting and auditing industry in gathering and analyzing big data. “Data models are complex, things that humans cannot do, technology can do,” Mr. Pulkit Abrol said, adding that if AI is used responsibly and ethically, humans can exploit it. Harness the unprecedented power of technology.
Ms. Helen Brand, Chief Executive Officer, ACCA also sees AI technology not only as a challenge but as an opportunity to help accountants and auditors create more value. To exploit and analyze that data, the role of accountants is extremely important. Therefore, public and private organizations have the responsibility to improve and upgrade the skills of training accountants so that they can keep up with new technologies and be able to exploit and account for data better.
Ms. Helen Brand, CEO, ACCA spoke at the forum on the morning of May 28. Image: Hoang Oanh
And Mr. Duleesha Kulasooriya, Managing Director, Deloitte Edge Center, Southeast Asia, commented that the development trends of digital technology and artificial intelligence technology are bringing opportunities and challenges in many fields, in That includes finance and auditing.
He said that generative AI is in the early stages of development but has many users and is gradually replacing humans in many stages. According to him, in the next 3 to 5 years, many things AI can do. “Humans need to take control, clearly distinguishing which areas AI leads, which areas humans lead,” he said. Businesses need to take advantage of this opportunity to support technology and do things that humans cannot do, such as gathering large data.
He assessed that in recent years, Vietnam has had many policies to promote the development of technology, artificial intelligence, and digital technology. “This is a favorable condition for businesses to apply technology to develop production and business,” he said.
Mr. Duleesha Kulasooriya shared at the discussion session on policy innovation for a green and digitally updated Asia-Pacific, on the morning of May 28. Image: Hoang Oanh
From a business perspective, Ms. Claudia Anselmi, General Director, Hung Yen Garment and Dyeing Company, Vice President of the European Business Association (Eurocharm) in Vietnam said that, in the trend of green transformation, digital transformation Businesses that want to compete and survive must adapt to new technologies. “If not, we will be out of the market,” she emphasized. Recognizing this as a great opportunity for businesses, according to her, businesses cannot go it alone but need the operation of the whole system, from policy, finance, accounting, and law.
During the two-day ACCA Asia-Pacific forum, experts also discussed issues of sustainable finance, digital transformation and regulatory developments, reflecting urgent trends and challenges. best in the region.