Impact of Artificial Intelligence and the Future of the Accounting Profession
Keywords:
Accounting Profession, Artificial Intelligence (AI), Business Learning (BL), Accounting Software, Automation TechnologyAbstract
This study aims to draw attention to the effects artificial intelligence has had on the accounting industry and the opportunities that this change has created. An essential element of an accountant's job entails the gathering and examination of copious amounts of financial information. The accountant is required to mine these data for nuggets of information that provide insight into the operational and financial aspects of the company. Traditionally, the accountant has been the only person responsible for completing this task, and they have received no outside assistance. However, in today's world, many computer-based tools are accessible to assist in the performance of financial analysis jobs. Artificial intelligence is currently one of the most prominent tools (AI). For example, the phrase "artificial intelligence" (AI) comes from computer science. It refers to a computer's capacity to imitate human cognitive abilities such as learning, evaluating, problem-solving, and decision-making. In accounting, the goal of applying artificial intelligence is to boost productivity in fundamental and necessary procedures and processes in such a way that, in the long run, it results in improved business decisions. This paper aims to understand the impact that Artificial Intelligence solutions have had in accounting over the past few years by performing a qualitative study based on a survey of relevant literature from the past few years. This article highlights the potential changes that Artificial Intelligence can bring to accounting occupations and the required actions to be taken to prepare for future jobs, which will more frequently involve using Artificial Intelligence solutions.
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