Stein Smith S. Blockchain, Artificial Intelligence and Financial Services: Implications and Applications for Finance and Accounting Professionals

Springer, 2020. — 263 p. — (Future of Business and Finance). — ISBN: 978-3-030-29760-2.Blockchain technology and Artificial Intelligence (AI) have the potential to transform how the accounting and financial services industries engage with the business, stakeholder and consumer communities. Presenting a blend of technical analysis with current and future applications, this book provides professionals with an action plan to embrace and move forward with these new technologies in financial and accounting organizations. It is written in a conversational style that is unbiased and objective, replacing jargon and technical details with real world case examples.
There has been a large amount written and spoken about artificial intelligence, blockchain technology, and the implications that these technology tools will have on the accounting profession in both the near and long term. One just has to look at the frothy and volatile nature of the cryptocurrency, on top of the introduction of hundreds of new coins, for potential evidence of market conditions overheating. Such a large amount of analysis and speculation may appear to some as the symptoms and stages of a bubble or over excitement in the marketplace, but upon further review this does not appear to be the case. While technology has played an important role in the accounting and finance profession since the beginning of the computer age, there are several fundamental characteristics that differentiate these technologies from earlier iterations. What this book attempts to do, however, is to not only breakdown these sometimes amorphous technology concepts, but also analyze the implications of these technology tools and platforms, and to finally project possible implications of these tools on the financial services profession.
Additionally, the continued development and building out of non-bitcoin blockchains such as the Ethereum has allows the investment and development of a number of different options to enter the broader marketplace. For example, blockchain can be used as an infrastructure system and platform to either replace or substantially augment current enterprise systems, but that is only the proverbial tip of the iceberg. Healthcare, transportation and logistics, education, food safety and treatment, retail, intellectual property and intellectual assets all represent prime candidates for improvement via utilizing blockchain based solutions.Foreword & Introductory Information
The Changing Accounting Landscape
Cryptocurrencies & The Financial Services Landscape
Consensus Methodologies
Stablecoins & The Decentralized Organization
Artificial Intelligence
Robotic Process Automation
The View From the Top
A New Niche for Practitioners
Leveraging Technology to Reduce Ambiguity
Internal Control Considerations
Implications & Trends for Financial Services
Audit Implications of AI & Blockchain
ESG & Other Emerging Technology Applications
Cybersecurity & Insurance
Next Stage Applications
Data As An Asset
Elevation to Strategic Advisor
Conclusions & Future Directions