Finance and accounting have the most potential for efficiency through artificial intelligence, a research survey shows.

Machines can automate the management and analysis large amounts of information, cutting costs and making process more efficient.

Other areas of cost savings are human resources, new service development and customer management, the report by consultancy Cognizant says.

As old roles are automated, new ones will also come up. For instance, designers will be in high demand in the financial industry as customer engagement is redesigned, it adds.

AI will bring broader opportunities, beyond cost savings, it says. For example, data created by digital transactions can help agencies predict, rather than react to outcomes.

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