INTEGRATING AI INTO THE FUTURE OF ACCOUNTANCY

Accountancy is the practice of recording, classifying and reporting on business transactions. It provides feedbackÂ’s to the management regarding the financial results and status of an organization. Accountancy revolves around recording and analyzing financial transactions to provide accurate financial position and performance of an entity. Accountancy is invaluable but it is not immune to the tide of advancements in artificial intelligence. Artificial intelligence can help reshape accountancy for the betterment of accountants and the business. In accountancy some tasks being repetitive and time consuming often divert accountants from high value activities. Artificial intelligence can save accountants from such routine work and help them enhance their skills. This Research paper will talk about how artificial intelligence can revolutionize accountancy.