AI and Accounting

People now trust robots more than themselves to manage their finances, according to a new study by Oracle and personal finance expert Farnoosh Torabi. The study of more than 9,000 consumers and business leaders in 14 countries found that the COVID-19 pandemic has increased financial anxiety, sadness, and fear among people around the world and has changed who and what we trust to manage our finances. In addition, people are rethinking the role and focus of corporate finance teams and personal financial advisors, according to the research. The global pandemic has damaged people’s relationship with money at home and at work, here’s how: Among business leaders, financial anxiety and stress increased by 186 percent and sadness grew by 116 percent; consumer financial anxiety and stress doubled, ...