THE IMPACT OF ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING ON FINANCIAL ANALYSIS AND DECISION MAKING

ABSTRACT

This study seek to examine the impact of artificial intelligence and machine learning on financial analysis and decision making with a specific focus on selected companies in Edo state. The researcher adopted questionnaire in collecting relevant information for the study using a sample size of fifty (50) managers, finance staff and accountants from managers, finance staff and/or accountants of selected companies in Edo state. The gathered data were examined using descriptive statistics, correlation analysis and regression techniques were used to analyze the data in order to achieve the research objectives. The study regressed artificial intelligence and machine learning on financial analysis and decision making . This study employed the Ordinary Least Square Method and the empirical results revealed that there is no significant effect of the application of artificial intelligence on financial analysis, there is a significant relationship between artificial intelligence and decision making, there is a significant relationship between machine learning and financial analysis and there is no significant relationship between the implementation of machine learning and decision making. The study recommends amongst others that organizations should focus on integrating artificial intelligence tools into their decision-making processes to leverage the significant positive impact identified in the study,to maximize the benefits of machine learning, companies should invest in advanced machine learning models and training for financial analysis and there should be ongoing training and development programs for staff to better understand and utilize AI and machine learning tools. Keywords: Artificial Intelligence, Machine Learning, Accounting Automation, Financial analysis, Decision making, Expert System, Digital identity system, Helpdesk Chatbot