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ARTIFICIAL INTELLIGENCE IN FINANCIAL ACCOUNTING AND REPORTING FOR RWANDAN BANKS

Domain:

socioeconomic

Record type:

paper
Creator:
1Mb
Publisher:
Zenodo
Host:avatar
This study investigates the transformative role of Artificial Intelligence (AI) in financial accounting and reporting for Rwandan banks. Using a qualitative approach, data was collected through document analysis, expert interviews, and case studies spanning 2005 to 2012. Key findings reveal a significant increase in AI adoption, from 20% in 2005 to 64.3% in 2012 (χ²(2, N=14) = 8.21, p < 0.05), resulting in improved financial reporting accuracy (from 84% in 2010 to 92% in 2012, t(13) = 5.23, p < 0.001) and operational cost reductions of nearly 15% by 2012 (F(2, 27) = 4.67, p < 0.05). Despite these advances, challenges such as high implementation costs (78% of banks) and limited technical expertise (64%) hinder broader adoption. The study concludes that targeted capacity-building, financial incentives, and robust data governance frameworks are essential for maximizing AI's potential. Recommendations include expanding training programs, incentivizing AI investments, and aligning regulatory frameworks with technological innovations.

Visit

doi.orgzenodo.org

Languages

Kinyarwanda

Licenses

Creative Commons Attribution 4.0 Internationalhttps://creativecommons.org/licenses/by/4.0/legalcode

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