In a commentary, SMU Dean of the School of Accountancy and Lee Kong Chian Professor of Accounting Zhang Liandong said that artificial intelligence (AI) is not mainly a labour problem for accountancy but also a credibility problem for capital markets. Prof Zhang noted that in an AI-rich economy, accountancy matters not just as a reporting function but also as part of the infrastructure that makes economic information reliable enough for others to act on. He added that the future of accountancy should not be framed too narrowly as a struggle for professional survival. Prof Zhang said that the bigger risk is that markets become saturated with low-cost intelligence but short on accountability.
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