How AI is shaping accounting and finance

The special issue on Artificial Intelligence (AI) in Accounting and Finance explores how AI technologies are transforming the fields of accounting and finance, examining both their practical applications and the associated challenges. The papers included in this issue demonstrate how AI can improve efficiency, enhance decision-making processes, and increase transparency across various domains, including financial reporting, auditing, risk management, and taxation. Specifically, the contributions highlight AI’s capability to automate routine tasks, analyse large and complex datasets, and significantly improve predictive accuracy. However, despite these notable benefits, the adoption of AI also raises important ethical and regulatory concerns. Issues such as algorithmic bias, fairness, and accountability must be carefully addressed to ensure that AI technologies are implemented responsibly and ethically. Beyond reviewing current developments, this special issue also outlines several priorities for future research. These include improving the transparency and explainability of AI models, and expanding AI applications into areas that have received less attention, such as behavioural finance, taxation, and data valuation. By encouraging further research and promoting interdisciplinary collaboration, this special issue aims to guide the development of AI in ways that are both innovative and responsible. The ultimate goal is to create an accounting and finance ecosystem that is not only more efficient, but also ethical and sustainable.