Journal articles and newspaper stories in recent years predict the demise of accounting as a discipline...

Journal articles and newspaper stories in recent years predict the demise of accounting as a discipline as more and more tasks associated with the accounting are handled by computers, such as tax preparation.

As this technology advances and becomes more powerful, professional, white-collar workers, including accountants, are starting to worry about what the future holds for their career and if AI will make their job obsolete.

Argue that AI will not create new job opportunities but is the beginning of the end to the accounting profession as we now know it.

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Expert Solution

Solution:

It's been anticipated that in the ongoing occasions "Artificial Intelligence"(AI) will assume control over the accounting tasks including tax, payroll, audits and banking which is going the upset the accounting business bringing the genuine difficulties.
The utilization of artificial intelligence (AI) crosswise over numerous businesses is developing at a quick rate however reception in the accounting field is still particularly in early improvement.

Lets consider the beneath issues on execution of AI:

Accounting Profession includes prompt and meetings on various regions like tax planning, operations, budgeting. Artificial intelligence won't have the option to takeover that capacity
Besides, AI can never imitate the complicated idea of human insight. State like in reviewing, proficient doubt is one of the significant attribute evaluator ought to have. Artificial intelligence can not do that. Simulated intelligence will basically give a few outcomes based on characterized calculations on the arrangement of information gave however can not really challenge the information.
To wrap things up, Accountants normally work over various nations and jurisdictions ; AI calculations are not proficient yet of sifting through these mind boggling cooperations that work cross border.

So might be we can say AI is progressive in different enterprises yet in accounting industry, "Artificial Intelligence"(AI) isn't an alternative.

ekkarill92 answered 10 months ago

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