A Study on the Impact of Artificial Intelligence on the Accounting Profession

A Study of Small-Scale Industries of Rajasthan

Abstract

The rise of paperless accounting has brought about a new era in the field of accounting, incorporating artificial intelligence and technology. The accounting sector has witnessed a significant shift towards digitalization, with further growth anticipated in the future. Recent advancements in technology have transformed the traditional manual bookkeeping process, eliminating the need for laborious hours of manual data entry and upgrades without any visual aids. Businesses of all sizes now have access to user-friendly digital accounting solutions for efficient recording and analysis of business transactions.

Numerous research studies have been carried out in the field of digital accounting and the accounting industry, both in India and worldwide. However, there has been a noticeable absence of significant investigations regarding the influence of artificial intelligence on accountancy and accountants specifically for small-scale industries in Rajasthan. “This paper examines the influence of artificial intelligence (AI) on the accounting career in moderate trades in Rajasthan. Additionally, it examines the relationship between the current state of affairs (status quo) and the developmental trends of AI in accounting.”

The study relies on both primary and secondary data. Primary data were collected through well-designed questionnaires and indirect interviews. Secondary data were sourced from various reputable journals, magazines, and websites. Various tools, including percentage calculations, chi-square tests, and t-tests, were used for analyzing and interpreting the results. While these tools can provide extremely accurate outputs, surpassing human efforts in some cases, it’s important to note that they do not replicate human intelligence. Recognizing the strengths and limitations of this distinct form of intelligence is crucial, and we should strive to understand the most effective ways for humans and computers to collaborate.