ARTIFICIAL INTELLIGENCE AND AUTOMATION IN ACCOUNTING: OPPORTUNITIES AND CHALLENGES FOR THE FUTURE

Abstract

This paper explores the transformative impact of Artificial Intelligence (AI) and automation on the accounting profession, highlighting the opportunities and challenges these technologies present. As AI continues to evolve, it offers enhanced efficiency in data processing, real-time analytics, and improved accuracy in financial reporting. Automation streamlines routine tasks, allowing accountants to focus on strategic decision-making and advisory roles. However, the integration of these technologies raises concerns regarding job displacement, ethical implications, and the need for continuous skill development. The study emphasizes the necessity for accounting professionals to adapt to the changing landscape by embracing AI and automation while addressing the associated challenges to ensure a sustainable future in the profession.