IMPACT OF ARTIFICIAL INTELLIGENCE ON ACCOUNTING PROFESSION IN THE NIGRIAN BANKING SECTOR: A CONCEPTUAL SYNOPSIS
Salim Shehu Barwa, Bernard V. Verr and Adamu Garba Zango
Volume 11 Issue 1
Abstract
This study examined the impact of artificial intelligence (AI) on the accounting profession in the Nigerian banking sector. The study investigated the impact of AI technologies in the field of accounting by redefining the roles and responsibilities of accountants in the banking industry. Through in in-depth and systematic literature review of articles downloaded from the research gate popular hub, this study sheds light on AI influence on the accounting profession in the banking sector. The results of this study indicate that the impact of AI on accounting profession can be divided into three categories: (i) automation of routine tasks, (ii) enhanced data analysis, and (iii) valueaddition of professional roles. While the automation of routine tasks includes data entry, validation, and transaction processing, enhanced data analysis includes predictive analytics and decision support. The value-addition of professional roles comprises increase in scalability and cost savings and focus on higher value activities. Findings of this study suggest that the accounting profession is evolving in response to AI technology in the banking sector and accountants should embrace these changes to harness the full potential of AI in their respective calling. Keywords: Artificial Intelligence, Accounting Profession, Automation, Banking Sector, Nigeria
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