Integration of Artificial Intelligence-Based Financial Control Mechanisms in the Ministries of the Republic of Armenia as a Means to Enhance the Efficiency of Economic Management
Integration of Artificial Intelligence-Based Financial Control Mechanisms
in the Ministries of the Republic of Armenia as a Means to Enhance
the Efficiency of Economic Management
Mnatsakanyan Karen,
Smbatyan Gevorg
Summary
Key words: National Body for Developing AI Technologies, Financial Control, Management Efficiency, Public Sector, Ministries of the Republic of Armenia
The integration of artificial intelligence (AI)-based financial control mechanisms represents an innovative approach to enhancing the efficiency of management within the ministries of the Republic of Armenia. This article explores how AI-based financial control can address the existing challenges in public sector governance by improving transparency, accountability, and decision-making processes. Through a comprehensive analysis of current management practices, the article examines the potential of AI to streamline financial operations, reduce human error, and optimize resource allocation. By assessing the advantages of AI over traditional financial control methods, the article provides detailed insights into the implementation of AI technologies within the ministries of the Republic of Armenia. The findings of the research indicate that AI integration can significantly improve management efficiency, but it requires a supportive legal framework and a capable workforce.
The ministries of the Republic of Armenia face various financial management challenges, often hindered by bureaucratic inefficiencies and time-consuming processes that fail to adequately address current issues. This academic article proposes a vision for the future, where AI will revolutionize financial control mechanisms. As AI systems are integrated, they automate tasks, enhance transparency, and enable real-time data analysis, significantly improving decision-making and resource allocation. The article concludes with recommendations on promoting the adoption of AI in financial control to achieve higher levels of governance efficiency.