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Large Language Models (LLMs) in Business Strategies and Accounting: Opportunities and Challenges

Year: 2024

Type: article

Abstract: The rapid advancements in artificial intelligence (AI), particularly with large language models (LLMs), have sparked significant interest across various industries. In business strategy and accounting, LLMs are demonstrating potential to automate tasks, analyze financial data, and support strategic decision-making. This paper reviews the applications of LLMs in business strategies and accounting functions, exploring their strengths, limitations, and implications. Through a qualitative analysis, we provide insights into how organizations can integrate LLMs into their strategic frameworks to gain competitive advantages while maintaining ethical and practical considerations.

Source: Management Journal for Advanced Research

DOI: 10.54741/mjar.4.6.1-7

Authors: Zhi Li, Hao Qin

Language: English

Topic: Artificial Intelligence Applications

Subfield: Artificial Intelligence

Field: Computer Science

Domain: Physical Sciences

Open Access status: diamond

OpenAlex ID: W4405952260

FWCI:

Cites: 18

Cited by:

Related to: 10