Large Language Models (LLMs) in Business Strategies and Accounting: Opportunities and Challenges
DOI:
https://doi.org/10.54741/mjar.4.6.1-7Keywords:
ai adoption, business efficiency, large language models (llms)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.
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