Challenges and Opportunities: Integrating AI Into Accounting Systems

This study investigates the integration of Artificial Intelligence (AI) into accounting systems, identifying key challenges, and potential opportunities. The objective is to provide a critical assessment of the impact that AI has on modern accounting practices and systems. Methodologically, the research involves a review and analysis of secondary data, including official company portals, comprehensive industry analyses, product documentation, and insightful whitepapers of 10 major companies pioneering AI adoption. The study reveals challenges such as the compatibility of AI with existing accounting infrastructures and the need for workforce reskilling to adapt to AI-driven processes. Conversely, the study highlights opportunities such as enhanced operational efficiency, improved accuracy, and the facilitation of strategic decision-making through predictive analytics. The research underscores the necessity for strategic planning and the development of adaptable systems to leverage AI technologies effectively in accounting.