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Machine Learning for Auditors and Finance Teams: A Simple Guide
Why Machine Learning?
Machine learning (ML) is reshaping industries by enabling computers to analyse data and make predictions without explicit programming. For auditors and finance teams who handle extensive data, ML offers powerful ways to streamline complex analyses, detect patterns, and uncover insights that would otherwise be challenging to achieve. As more audit platforms integrate ML features, the opportunity to enhance decision-making and efficiency is within reach, even for those without a deep technical background.
Understanding Machine Learning
At its core, ML is a subset of artificial intelligence that enables systems to learn from data patterns and improve over time. Unlike traditional programming, where a system follows predefined rules, ML allows a computer to recognise patterns in historical data and make informed decisions, adapting as it learns. Traditionally, computers need to be programmed to do exactly what they are told in any given circumstance. ML is different. Think of it as training a computer to identify risky transactions or forecast expenses based on past trends. The computer learns from these past trends and uses these trends to predict future values. For auditors and finance teams, ML can simplify tasks like anomaly…
