Anita Atanassova
Abstract:The topic under consideration is complex and includes, on the one hand, the possibility of using artificial intelligence (AI) in the field of real estate, and on the other hand, the accounting interpretation of the processes in which AI is used. An additional complication is the potential use of AI for purely accounting purposes within the real estate business. Often the use of AI does not directly create a new product, but is part of a business process. In some cases, a new product is created that may have independent significance in accounting. We believe that the emerging new products are not new objects as an accounting class, but should be separate levels of already known objects or processes, both in the field of financial accounting and management accounting. Their separation is necessary due to the risk of legal claims; the need for strong human control over the processes using AI; necessary defined responsibility and accountability for them; eventual increased costs of training personnel working with the new technology, investment, energy, organizational costs, increased revenues and profits too; due to specific legal regulations on the use of AI such as the EU Artificial Intelligence Act of 13 March 2024. It is very likely that in the future, public disclosure of information about the use of AI by enterprises will be required.
Key words: Artificial Intelligence Act; Real estate business and AI; Generative AI in real estate business; Accounting for AI; AI and new accounting objects.
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