AI in Accounting: a new system is not always necessary

At the MILA and RTU Innovations seminar "AI in Accounting: Practical Solutions and Opportunities" on August 27, Betija Muižniece discussed how AI can practically assist accountants and financial specialists.

Document and data processing, information comparison, report preparation, discrepancy detection, and task automation are just a few ways AI simplifies daily tasks. However, it will not solve problems in a process that is initially unclear or unnecessarily complicated.

Therefore, it is essential to evaluate the existing process first: how it currently operates, which stages consume the most time, and where AI would provide real benefits. In many cases, a new system is not necessary – it is enough to use and adapt the existing one more intelligently. Then AI becomes not just another tool to manage but a helper that reduces manual work and leaves more time for analysis and decision-making.