Artificial Intelligence and its Impact on Accounting- A Study

Technology and Inventions have always played a pivotal role in shaping the modern world.One such technology is artificial intelligence, which plays a highly transformative role in today's scenario.It has an impact on almost every field and makes its presence felt in our day-to-day lives.Artificial intelligence is playing a very significant role in the Field of Accounting.Accounting is one such field that is always very dynamic in adapting to the latest technology and is always a transformative one.Adaptation of AI-powered tools and platforms in Accounting is yielding very good results.Using AI, very accurate results can be generated, and it is cost-efficient for business concerns and tailor-made for various business requirements.The present research article focuses on the concept of AI and its application in accounting alongside an attempt to examine various AI-powered accounting tools.The article also focuses on the impact of AI on accounting professionals and makes suggestions.