How Artificial Intelligence Is Impacting the Accounting Profession

Before exploring the many ways that artificial intelligence, or AI, is disrupting the accounting profession, it will be relevant to see what it is all about. AI is the ability of software and machines to display or imitate a sense of cognitive intelligence, which while promising to positively impact many sectors also raises great concerns about moral issues. A machine developed to think, learn and react like human beings is good for an hour of a sci-fi movie with a not too happy ending, but in real life, these aspects are being harnessed to bring about revolutionary changes in technology. AI has the potential and promises to be a disruptor as potent -- or maybe more -- than cloud computing. AI can be considered to be a great performance enhancement business tool, especially in areas that require a high level of technical precision and analytical judgments like accounting.