ANALYSIS OF THE IMPACT OF ARTIFICIAL INTELLIGENCE APPLICATION ON THE DEVELOPMENT OF ACCOUNTING INDUSTRY

ANALYSIS OF THE IMPACT OF ARTIFICIAL INTELLIGENCE APPLICATION ON THE DEVELOPMENT OF ACCOUNTING INDUSTRY

Abstract

Artificial intelligence has ushered in a golden age with the quick advancement of information technology and the demands of commercial society. The accounting sector will undergo significant changes and development as a result of the unavoidable trend of applying artificial intelligence technologies to the profession. This essay examines the use of artificial intelligence in the accounting sector as its research topic, considers how it has affected the sector’s growth, and offers pertinent solutions to any issues that have arisen.

1. Introduction

In 1956, at the University of Dartmouth seminar in the United States, John McCarthy and other computer experts first proposed the concept of “artificial intelligence” [1] , marking the birth of artificial intelligence. Nowadays, with the wave of artificial intelligence sweeping across the globe, the International Joint Conference on Artificial Intelligence continues to research related technologies, and the world’s major developed countries regard the development of artificial intelligence as a major strategy to enhance national competitiveness. In 2017, artificial intelligence was first written into the Chinese government work report, and 15 departments including the Ministry of Finance worked together to build the world’s major artificial intelligence innovation center [2] . Nowadays, artificial intelligence technology has been widely used in agriculture, commerce, education, and service industries. The golden age of artificial intelligence has arrived.

With the rapid development of artificial intelligence technology and its wide application in various fields, the trend of human work being replaced by robots is intensifying. The involvement of artificial intelligence in the accounting industry will inevitably affect and subvert the traditional development mode and bring innovation to the accounting industry. The 2017 Chinese Government Work Report promoted the development of artificial intelligence to the national strategic level, clearly pointing out the need to accelerate the development and transformation of artificial intelligence technology; the State Council issued the “New Generation Artificial Intelligence Development Plan” to promote the integration of artificial intelligence and various industries, promote large-scale application of artificial intelligence, and comprehensively enhance the level of intelligent development of industry [3] . In February 2018, the “Standards for the Training and Evaluation of Accounting Practice Information Application Capabilities” was approved in Beijing. Its normative content covers two sections: artificial intelligence application and management accounting information application. The support of relevant policies and the issue of regulations mean that the combination of artificial intelligence and accounting industry is an inevitable trend in the future.

In 2016, Deloitte Touche Tohmatsu, one of the world’s four largest accounting firms, announced the introduction of artificial intelligence into accounting, taxation, and auditing [4] . In 2017, Nigel Duffy, a world-renowned machine learning and artificial intelligence expert, joined Ernst & Young as the person in charge of its global innovative artificial intelligence team. In recent years, many countries have been competing to carry out research and application of artificial intelligence, and the call for the use of artificial intelligence is louder and louder in academia. Professor Sun Zheng, former president of Shanghai University of Finance and Economics, put forward the view that enterprises should use the Internet and big data for transformation and innovation in the speech of “Financial Transformation and Evolution in the Period of VUCA”; in the keynote speech of “New Era, New Challenges, New Changes”, Professor Qin Rongsheng, secretary of the Party Committee of Beijing National Accounting Institute, declared that financial management should be intelligent in the future financial management transformation of enterprises; Li Wei, an expert in China’s management accounting informationization, pointed out that the deep application of artificial intelligence in the financial field is the general trend of financial intelligence in the future. Facing the transformation and upgrading of the accounting industry, the traditional accounting work has the characteristics of repetition and cumbersome. The application of artificial intelligence can solve the pain points of inefficiency and low added value in the accounting field, making the accountants turn to more creative work and bring greater value to the company. In summary, the application of artificial intelligence to theaccounting industry will promote the development and innovation of the industry and enhance the competitiveness of enterprises, which is of great significance.

ANALYSIS OF THE IMPACT OF ARTIFICIAL INTELLIGENCE APPLICATION ON THE DEVELOPMENT OF ACCOUNTING INDUSTRY.  GET MORE  ACCOUNTING PROJECT TOPIC AND MATERIALS

Sharing is caring!