Cognitive Computing and Business Intelligence Applications in Accounting, Finance and Management

Cognitive computing encompasses computing tools and methods that simulate and mimic the process of human thinking, without human supervision. Deep neural network architectures, natural language processing, big data tools, and self-learning tools based on pattern recognition have been widely deployed to solve highly complex problems. Business intelligence enhances collaboration among different organizational departments with data-driven conversations and provides an organization with meaningful data interpretation for making strategic decisions on time. Since the introduction of ChatGPT in November 2022, the tremendous impacts of using Large Language Models have been rippling through cognitive computing, business intelligence, and their applications in accounting, finance, and management. Unlike other recent reviews in related areas, this review focuses precisely on the cognitive computing perspective, with frontier applications in accounting, finance, and management. Some current limitations and future directions of cognitive computing are also discussed.