APPLICATION OF ARTIFICIAL INTELLIGENCE IN THE FINANCIAL AND ECONOMIC ANALYSIS OF ENTERPRISES’ ACTIVITY

Abstract

The article examines the peculiarities of artificial intelligence development and the using its achievements for the future development of Ukrainian economy, in particular in accordance with the Concept of Artificial Intelligence Development in Ukraine. The major tasks of AI using in economical spare of Ukraine are: stimulating the development of entrepreneurship in the field of artificial intelligence; motivation of business to introduce artificial intelligence technologies to increase their own efficiency; development of the Roadmap to retrain people whose work can be automated in the nearest future; introduction of the state order for artificial intelligence systems, IT specialists and data researchers; stimulation of partnership between the state and business in the field of innovative projects, as well as improvement of legislation in the relevant field. Using of information technologies allows to monitor business projects, influence the results of business operations, which enables to warn possible risks and make effective decisions. AI is a modern tool capable to increase business efficiency through rapid analysis of available data, that lets choose the best development strategy. The main advantages of using AI include: forecasting financial and market-commercial risks; optimization of development strategies; creation the system for monitoring business results in real time; automation of accounting and financial and economic analysis; analysis of market and economic trends. The key problems in the economic sector that affect the development of AI in Ukraine are separated, special attention is paid to the advantages and risks of using artificial intelligence technologies in business activities, among them low-quality data for analysis, opacity of the obtained results, as well as the risk of privacy loss. In order to minimize the possible risks connected with the loss of confidential data, it is proposed to use of software that would allow, taking into account the industry specifics of each enterprise's activity, to maintain, monitor and analyze significant data. That would allow to monitor the effectiveness of business processes in the real time mode and make efficient management decisions without fear of leakage of important confidential information.