Riding the Waves of Artificial Intelligence in Advancing Accounting and Its Implications for Sustainable Development Goals

Yixuan Peng, Sayed Fayaz Ahmad (), Ahmad Y. A. Bani Ahmad, Mustafa S. Al Shaikh, Mohammad Khalaf Daoud and Fuad Mohammed Hussein Alhamdi
Additional contact information
Yixuan Peng: School of Law, Huazhong University of Science and Technology, Wuhan 430074, China
Sayed Fayaz Ahmad: Department of Engineering Management, Institute of Business Management, Karachi 74000, Pakistan
Ahmad Y. A. Bani Ahmad: Department of Financial and Accounting Science, Middle East University, Amman 11121, Jordan
Mustafa S. Al Shaikh: College of Business, Zarqa University, Zarqa 11512, Jordan
Mohammad Khalaf Daoud: Department of Marketing, Applied Science Private University, Amman 11121, Jordan
Fuad Mohammed Hussein Alhamdi: Department of Business Administration, College of Sciences and Humanities-Aflaj, Prince Sattan Bin Abdulaziz University, Al-Aflaj 16828, Saudi Arabia

Sustainability, 2023, vol. 15, issue 19, 1-12

Abstract: Artificial intelligence (AI) is emerging as a disruptive force in many sectors, and using it in accounting isn’t an exception. This conceptual paper explores the role of AI in accounting, for financial reporting, auditing, and financial decision-making and provides accountants an opportunity to improve efficiency, accuracy, and decision support. AI, through data analytics, algorithms, automation, etc. has an important role in the field of accounting with some challenges also. The study also highlights the implications of AI in accounting for achieving several Sustainable Development Goals (SDGs). Firstly, AI-driven automation can restructure financial activities, reducing time and resource consumption, and contributing to SDG 8 (Decent Work and Economic Growth). In addition, by providing real-time data analysis, AI empowers businesses to make sustainable decisions based on real-time data, aligning with SDG 9 (Industry, Innovation, and Infrastructure) and SDG-16 (Peace, Justice, and Strong Institutions) and SDG 17 (Partnerships for the Goals). The paper has implications for policy makers, technology developers, financial institutions and business firms.

Keywords: artificial intelligence; accounting; sustainability; automation; accountant’s efficiency; decision making; sustainable development goals (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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