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<\/a><\/figure>\n\n\n\nFor example, Pegg can be used to ensure expenses are recorded or to find the status of an invoice. A company can use Pegg within existing software like Facebook Messenger and ask questions as one would to Alexa. You could ask \u201cwho owes me money\u201d and Pegg would respond. All companies need to track expenses and do tax returns, but very few people enjoy those things. Pegg gives these people a way to manage those things, so they have more time to do the things they love. Pegg has won awards like Best AI-Based Solution for Financial Services and Software Excellence Innovation Award. Pegg isn\u2019t meant to replace the need for humans, but, rather, to expand the possibilities created for businesses when humans and machines can collaborate. At the end of the year, taxes would be much easier to file with Pegg because companies’ or individuals\u2019 financial records would be better recorded throughout the year. Pegg is just one example of how AI is revolutionizing business and accounting.\u00a0The biggest concern I have regarding Pegg is that it was created nearly five year ago yet most of the articles about it were from 2018-2020. I am curious to know the current progress of the chatbot because I think it has great potential. <\/p>\n\n\n\n Kriti Sharma is the Vice President of Artificial Intelligence and Ethics at Sage. She recognized the issue of AI reinforcing human stereotypes; therefore, when creating Pegg, she made the chatbot gender-neutral. An example of AI\u2019s gender stereotype issue was shown through a study at Boston University. In this research study, an AI program was trained with text from Google News. \u201cWhen the AI was asked, \u2018Man is to computer programmer as woman is to X,\u2019 the program\u2019s response was \u201chomemaker\u201d. She blames some of the stereotype issues of AI on a lack of diversity on technology teams. Sharma said in an interview \u201ca child growing up in an AI-powered world today could be learning to bark orders at a female voice assistant \u2014 I think we all would agree this is dangerous.\u201d Due to Sharma\u2019s efforts, Sage published an ethical code for developing AI. This article urges companies to build AI services to tackle social issues ethically. Because of these efforts and her work to create Pegg, she was named in the Forbes 30 under 30 list in Europe. Sharma should be recognized as a pioneer in making Artificial Intelligence ethical.\u00a0<\/p>\n\n\n\n In addition to the ethical concerns of AI, there are more concerns with digitizing the accounting profession. Mostly, people are afraid of data privacy and confidentiality. The only way to gain value from AI is to have access to large amounts of data. Therefore, this need for data also creates privacy concerns. Furthermore, since AI\u2019s algorithms are so complex, there is a lack of transparency with AI\u2019s proposed solutions. It is often hard to understand how an AI program gets to a certain solution, which would make it hard to know if the AI is biased or bad. Although all of these concerns do need to be addressed, the opportunities AI will bring to the accounting world need to be pursued. <\/p>\n\n\n\n Additionally, in a world where technology is constantly evolving, the next generation of accountants need to be prepared to use Artificial Intelligence to help automate minute tasks and drive deeper insights.\u00a0<\/p>\n\n\n\n Sources:\u00a0<\/p>\n\n\n\n https:\/\/online.emporia.edu\/articles\/business\/ai-and-future-of-accounting.aspx<\/a><\/p>\n\n\n\n https:\/\/www.sagecity.com\/ca\/sage_50\/b\/sage_50_ca_supporthub_blog\/posts\/who-is-pegg-how-is-sage-applying-ai-to-help-customers<\/a><\/p>\n\n\n\n https:\/\/www.accountingweb.co.uk\/community\/blogs\/dean-mcglone\/the-era-of-invisible-accounting-is-already-here<\/a><\/p>\n\n\n\n https:\/\/tipalti.com\/robotic-accounting\/<\/a><\/p>\n\n\n\n https:\/\/us.aicpa.org\/content\/dam\/aicpa\/interestareas\/frc\/assuranceadvisoryservices\/downloadabledocuments\/the-data-driven-audit.pdf<\/a><\/p>\n\n\n\n https:\/\/theworld.org\/stories\/2018-03-28\/meet-pegg-gender-neutral-robot-assistant<\/a> https:\/\/www.linkedin.com\/pulse\/story-behind-pegg-building-worlds-first-smart-alex-fawcett<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" As a student currently participating in the MIS BBA\/MAcc Double Dawgs Program, the intersection point between accounting and technology is something that I have found very interesting. Since we are discussing Artificial Intelligence this week in class, I specifically wanted to research how AI is affecting accounting. Over the next decade, the value of Artificial… Continue reading AI in Accounting: Pegg<\/span> <\/a><\/figure>\n\n\n\n