Mrs. Sarita Gupta
Management
May 2025
The use of Artificial Intelligence (AI) in accounting has transformed financial operations by mechanizing repetitive tasks like data entry, auditing, and tax compliance, hence increasing precision, effectiveness, and affordability. This research assesses the penetration of AI in different accounting functions, noting extensive use in automated data entry (75%) and auditing (60%), in addition to advantages such as improved accuracy (80%), time savings (70%), and enhanced decision-making (60%). Despite these advantages, firms face critical challenges including data privacy concerns (68%), workforce skill gaps (60%), resistance to change (55%), high implementation costs (50%), and ethical issues (40%). Addressing these obstacles is crucial for leveraging AI’s full potential and ensuring its sustainable integration within accounting operations. The results offer thorough information on how AI is revolutionizing accounting practices, with a focus on both its transformative nature and the necessity for strategic management of related risks.
415- 422
© Airo Journals 2021
