A new report from ICAEW and Drooms (a data solutions company) published this month, suggests that some key decision making may soon be taken away from humans, and instead artificial intelligence (AI) could become involved in the decision making process. The report, "AI in Corporate Advisory" looks specifically at the application of AI to corporate deals and the opportunities and risks involved in using AI for corporate finance transactions.
As well as carrying out the research, ICAEW and Drooms assembled an Expert Consultative Group, chaired by Lord Tim Clement-Jones CBE who is Co-Chair of the All-party Parliamentary Group on Artificial Intelligence, and he said: "AI, even in its narrow form, will have a profound impact on corporate governance. This report is the first in the world to specifically address the application of AI in the context of mergers and acquisitions. Potential benefits include faster, more accurate and more insightful due diligence processes."
AI technologies are set to enhance the effectiveness of advisory firms, and corporations, which means organisations will be able to complete better due diligence, make more accurate predictions and pave the way for the success of deals they are involved in. The report makes a set of recommendations for the implementation of AI in this context. Find out more and download the report here.