The changing face of accounting

Abstract

Artificial intelligence (AI) has penetrated every part of business, and accounting has changed from e-accounting to AI-enabled accounting. AI opens the door to many competitive edges, whether collecting and analyzing financial data or various real-time data, including those from social networks, videos, images, geological locations, etc. AI is adaptive to the work environment, and its infusion is expected to expand its spider-web in almost every industry. This study aims to discuss AI in accounting while discussing the prospects and issues in applying AI. It also discusses some of the popular AI-based programs available for accounting.