Impact of Artificial Intelligence on Accounting

Artificial intelligence is impacting all kind of industries and accounting is no exception. The growth of automated solutions particularly in various finance functions – primarily led to anxiety among financial professionals that their positions might be replaced by machines. With automation becoming more ordinary, however, it's clear that accountants are still needed in the endeavor. Some accounting practices are starting to employ such advanced technology to simplify their operations. The general result that they are perceiving is saving time, reducing costs, increasing productivity and providing better accuracy.