Answered: Comment on the role of AI in Reg-Tech.…

Business

Finance

Comment on the role of AI in Reg-Tech. What aspects of AI have been influential in Reg-Tech’s transformation?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 18Q: What is an enterprise resource planning (ERP) system? What are the principal benefits of such a...

See similar textbooks

Related questions

Q: How do you think that information, such as CSR-related information, could be used to manage an…

A: When a business is contributing a defined percentage of its profits on charitable activities or…

Q: Why have re-engineering efforts been made to integrate AIS and MIS?

A: An Accounting Information System (AIS) uses financial data where a Management Information System…

Q: What are the advantages of using HRMS in an organisation?

A: (1) Improved data management. HRMS can handle all employee information as well as…

Q: Are computer ethical challenges novel or are they a reimagining of existing themes?

A: Definition: Ethics: Ethics may be described as the behavior a person exhibits while deciding between…

Q: How can we measure the ROI of knowledge Management initiatives in organizations?

A: The question is based on the concept of quantification of impact of expenses made in knowledge…

Q: Explain your understanding on FINTECH.

A: Fintech is a blend of two words – finance and technology. It refers to any technologies that enable…

Q: What risks are associated with letting employees use their favorite app to perform various tasks?

A: Risk: is a situation where the positive results are not same if we compare the actual desired…

Q: What are the roles of the AIS in the value chain?

A: Accounting information system (AIS) is used by the firms for collection, storage, processing and…

Q: Briefly explain the major components of AIS

A: SOLUTION- ACCOUNTING INFORMATION SYSTEM (AIS) IS A WAY OF TRACKING ALL ACCOUNTING AND BUSINESS…

Q: Distinguish between reverse engineering and reengineering.

Q: Describe about the Enterprise Resource Planning. What are its objectives?

A: Enterprise Resource Planning: It refers to a framework within an organization where the management…

Q: strategy for accounrting firm to adopt digital transformation

A: Firms must get over their reservations about the digital, cloud-based world of today. The more…

Q: The article emphasises that information technology is any technology that enables humans to create,…

A: Its use of computers, memory, networking, and other physical devices, infrastructures, and processes…

Q: In the knowledge based system a heuristic system? Explain your answer

A: Heuristic approach: Heuristic approach refers to a problem-solving approach that considers…

Q: What are the different tools in AI? Brief discuss each one and what it does.

A: Artificial Intelligence(AI) is the method of simulating the human intelligence in machines. These…

Q: State with the help of an example how intelligent information systems also help to generate sales…

A: The money created by a company's operations is known as revenue. Revenue can be estimated in a…

Q: What is the e-business model implemented by Slack? Explain

A: E-business: It is the conduct of business and its associated processes through the internet medium.…

Q: discuss the difference between internal and external users of information and their needs and…

A: Accounting Information System (AIS): The system which helps to gather, store and process the…

Q: AIS requirements would be well-suited to outsourcing its data processing? 000

A: Option I is correct. Clown Clothes wants a system to manage its online ordering and fulfilment. This…

Q: Apply the P.R.O.F.I.T. model to identify Infosys capabilities. Identify from the case study…

A: Solution- Core competencies of Infosys- (1) Infosys has nurtured the mentality of learning…

Q: What are the strengths and weaknesses that you see in the AIS system and ways that you would improve…

A: AIS stands for accounting information system that is a computer based method used by the company in…

Q: What are the things that need improvement in Xero Accounting Software?

A: Xero is an accounting software. By using of this software it help business to record business…

Q: What are the advantages and disadvantages of accessing online primary sources?

A: Primary sources are the proof of history, original records or objects created by participants or…

Q: What are the benefits and drawbacks of turnkey systems?

A: Here is the Answer

Q: how would you implement the SA8000 model in an organization?

A: SA8000 model : This model is considered a Social accountability standard with the International…

Q: Why is it necessary to continue to maintain and improve an existing Web site?

A: Regularly updating and maintaining website is crucial to ensuring that site is running at full…

Q: Your organization is considering acquiring bolt-on software for your ERP system. What approaches are…

A: Enterprise resource planning (ERP): ERP refers to the system that includes various functional…

Q: Should system users perform the systems development tasks or should these tasks be left to systems…

A: System Development: System development is the process by which IT professionals design, program,…

Q: Explain how SAP uses roles as a way to improve internal control.

Q: Is it possible to respond in an agile manner to customer requirements in a global sourcing…

A: Sourcing Is the process of locating and selecting businesses based on set criteria. It happens in…

Q: Can you share an example and explainwhy the CVP is important please.

A: Cost-Volume-Profit Analysis: Cost-volume-profit (CVP) analysis is a means to find out how changes in…

Q: In what ways do turnkey systems have advantages and disadvantages that you should know about?

A: Introduction: Under a turnkey system, the firm designs, constructs, runs, and transfers a production…

Q: Discuss a monetization model that would work for the app.

A: The final step in a thorough examination of a business model is monetization. Profitable income…

Q: What are some strengths and weaknesses in the AIS system and ways to improve any weaknesses…

A: AIS stands for Accounting information system which is a method based of computer used through…

Q: How an AIS can add value to a organizatio

Q: What is the role of the project leader in, first, a predictive project team, and second, in an agile…

A: A project could be anything that is designed to produce a unique product, output & service. The…

Q: Why is IT control and auditability so important in today's virtual environment?

A: Today's virtual environment has changed the aspects of traditional accounting and audit process…

Q: Explain

A: Digital Law encompasses a wide range of legal areas - it typically refers to traditional legal areas…

Q: Discuss the differences between internal and external users of information and their needs and…

Question

Comment on the role of AI in Reg-Tech. What aspects of AI have been influential in Reg-Tech’s transformation?

Definition Definition Structural system an enterprise uses to collect, store, report, retrieve, and process financial data. Accounting information systems are used by business analysts, auditors, accountants, and consultants for accurate and efficient access to financial data.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

Why have re-engineering efforts been made to integrate AIS and MIS?
What is the name given to the systems development approach used to quickly produce a model of user interfaces, user interactions with the system, and process logic?a. neural networkingb. prototypingc. reengineeringd. application generation
Are system documentation skills and tools necessary in the AIS discipline? Explain
What is an enterprise resource planning (ERP) system? What are the principal benefits of such a system?
What is an enterprise resource planning (ERP) system? What are the advantages and disadvantages of using an ERP?
Dscribe data', 'information' and 'knowledge with examples' and What are the major challenges in managing information systems?
In what ways do turnkey systems have advantages and disadvantages that you should know about?
What are the things that need improvement in Xero Accounting Software?
Discuss how the elements of efficiency, effectiveness, and flexibility are crucial to the design of an information system?
Discuss the differences between internal and external users of information and their needs and demands on an information system. Historically, which type of user has firms catered to most? Why have reengineering efforts been made to integrate AIS and MIS?
What are the Alternative Courses of Action to deal with the problems that needs to be identify, specifically regarding the Use of Conversational Artificial Intelligence (AI) of Concentrix Company to provide high-quality service to its customers?
Apply the P.R.O.F.I.T. model to identify Infosys capabilities. Identify from the case study information the core competencies of Infosys.