REVOLUTIONIZING ACCOUNTING AND FINANCE WITH AI: EMERGING APPLICATIONS AND RECENT TRENDS

ABSTRACTArtificial Intelligence (AI) is revolutionizing the fields of accounting and finance byenhancing financial decision-making, streamlining auditing processes, and automatingcomplex data analysis. This research explores emerging AI applications and recent trends inaccounting and finance, focusing on levels of awareness, adoption, perceived benefits, keychallenges, and professional trust in AI systems. A structured survey of 150 respondents—including finance professionals, accountants, auditors, and business leaders—was conductedto assess AI's practical impact. Findings indicate that AI significantly improves operationalefficiency, financial forecasting, fraud detection, and auditing accuracy, with 68% ofparticipants recognizing its transformative role. However, substantial barriers to adoptionremain, such as high implementation costs (65%), limited technical expertise (58%), and datasecurity concerns (45%). Despite concerns over job displacement and ethical implications,the study reveals that 62% of respondents trust AI to enhance financial operations. The resultsunderscore the importance of developing ethical AI frameworks, improving workforcereadiness, and establishing clear regulatory guidelines to fully realize AI’s potential inaccounting and finance.