Artificial intelligence (AI) is a branch of computing, technology and science that has had enormous development in the last decade, coming to drastically change our world. The project formally began with the work of the British mathematician Alan Turing in 1950, who is considered the father of this discipline.
In its beginnings, it sought to create a machine with the ability to imitate human intelligence and in its evolutionary process it made significant progress thanks to technological development and the availability of a large amount of data and the ability to process it more efficiently. Currently, AI is an active part of the daily life of humanity.
The issue has become so important that, in the 1990s, UNESCO's World Commission on the Ethics of Scientific Knowledge and Technology (COMEST) defined AI as "A field that involves machines capable of imitating certain functionalities of human intelligence such as perception, learning, reasoning, problem solving, among others.
Although this form of intelligence has been used in the fields of health, automation, education and finance with great performance, it is interesting to see how the operation of companies has been changing, their interaction with their customers and the way of being more competitive in the market, since it is helping them to increase their efficiency, automate their processes and improve strategic decision-making for the business. 
AI and its role in business
It is a fact that Artificial Intelligence has arrived to make great changes and in the business sector it has generated benefits and opportunities such as:
- Achieve optimization in strategic decision making in organizations, since it allows them to analyze huge amounts of data and generate real information, which helps them to contextualize a broad and well-analyzed panorama of situations that the company faces on a daily basis.
- Manage the improvement of processes to facilitate work, especially those that are complex and repetitive. This significantly reduces costs and improves efficiency in the organization.
- Establish a personalization of experiences with customers, which allows understanding their needs, improving their levels of satisfaction and achieving their loyalty.
- Achieve the identification of patterns through the analysis of data from a company's customers, which will make it easier for companies to detect new trends and market opportunities.
- Promote innovation and product creation, because companies can identify market opportunities, to meet the new needs of their consumers in a more efficient way.
How does AI work in law?
According to the Spanish Lawyers, General Council, this technology has entered the legal practice with force, since some LLM (language model), such as ChatGPT, are producing great changes in the practice of law, by improving the efficiency of professionals and their decision-making. AI is a versatile tool in legal tasks, such as in:
• Automate tasks: One of the most tedious activities of law firms and their lawyers is the review of legal documents, especially contracts, legal research and document drafting. With AI, professionals can delegate these tasks to them and devote their efforts to focusing on more important aspects. strategic and complex processes of their cases, improving their productivity and the quality of work.
• Legal investigation process: Artificial intelligence can analyze large blocks of information and detect possible solutions to problems that lawyers may miss or take a long time to understand. This makes it easier for them to carry out legal research and present solid arguments in defense of their clients.
• Risk analysis: This is a very important topic because it can help lawyers to analyze both the chances of success and the possible risks and thus be able to make better decisions. In the business case, it is ideal for compliance for companies.
• Legal advice is a very controversial topic at the moment, since basic advice to clients is being managed through chatbots and other tools, which can streamline processes and minimize the costs of legal services, but which calls into question degree obtained from an educational institution.
• Transform the structure of law. Through artificial intelligence, the structure of the legal profession can be transformed, since some tasks can be executed by AI and some jobs can be replaced by technology.
Accounting, the area benefited by AI
AI in accounting definitely has a great field of action in organizations to support the performance of recurring tasks, increase financial security, minimize accounting errors and analyze large volumes of data quickly. In fact, Morales & Co. Contadores, our members in Peru, maintain that “Artificial intelligence (AI) is rapidly transforming the field of accounting, revolutionizing the way companies manage their financial records and accounting processes. Various studies and experts in the field agree that the adoption of AI in accounting offers significant advantages that improve efficiency, accuracy and decision making.
Likewise, our specialists highlight the great performance of this technology in the automation of repetitive tasks, the analysis of complex financial data in real time to detect patterns, trends and generate relevant information for strategic decision making. Similarly, through AI algorithms, anomalies, fraud or errors in accounting records can be detected to correct them and thus ensure the integrity of financial information and improve internal auditing.
Although it is true that Artificial Intelligence continues to advance at an accelerated pace and now performs many tasks that were exclusive to man, it is important to note that it must be classified as a practical tool that supports, improves, and complements the work of people.
If you want more information on this topic and are looking for advice to do business in the world, consult our experts.
