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A Review of the Impact of Artificial Intelligence on Traditional Accounting Practices and Financial Reporting Abdullahi Ya'u Usman; Sulaiman Taiwo Hassan; Abalaka James Nda; Yusuf Adeyanju Yisau
International Journal of Science and Society (IJSS) Vol. 1 No. 1 (2025): June
Publisher : Marasofi International Media and Publishing (MIMP)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64123/ijss.v1.i1.1

Abstract

This study investigates the transformative effects of Artificial Intelligence (AI) on conventional accounting practices, focusing on its influence in reshaping financial reporting, auditing, and decision-making frameworks. Positioned within the context of rapid technological progression, the research traces the shift from traditional, manual accounting processes to advanced AI-enabled systems. The objective is to critically evaluate how AI adoption is redefining the accounting profession, identifying both the opportunities it offers and the challenges it poses. A systematic literature review and bibliometric analysis were conducted, drawing from peer-reviewed journals, case studies, and industry publications from the past ten years. This comprehensive methodology facilitates a deep understanding of AI’s role in accounting, particularly in enhancing accuracy, efficiency, and strategic capabilities within the field. Results indicate that AI significantly boosts the precision and speed of financial operations by automating repetitive tasks and providing predictive insights for more informed decision-making. Nonetheless, the implementation of AI faces several obstacles, including the demand for technically skilled professionals, concerns surrounding data security, high implementation costs, and organizational resistance to change. The study concludes by advocating for a measured and strategic approach to AI integration. Emphasis is placed on continuous professional development, ethical considerations, and adherence to regulatory standards. While the transition presents challenges, the potential of AI to transform accounting practices and drive innovation in the digital age is substantial. 
Comprehensive Review on Artificial Intelligence Techniques for Financial Forecasting and Their Applications in Stock Market Analysis Sulaiman Taiwo Hassan; Yusuf Adeyanju Yisau; Abalaka James Nda; Abdullahi Ya'u Usman
Multicore International Journal of Multidisciplinary (MIJM) Vol. 1 No. 1 (2025): May
Publisher : Marasofi International Media and Publishing (MIMP)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.64123/mijm.v1.i1.4

Abstract

The methodology involves a systematic review of scholarly literature, concentrating on peer-reviewed studies that discuss the efficacy, obstacles, and future directions of AI in stock market forecasting. Results indicate that AI holds significant promise for improving market efficiency and enhancing the understanding of price volatility. Nonetheless, issues such as data integrity, transparency of AI models, and the demand for comprehensive regulatory oversight remain critical concerns. The conclusions emphasize AI’s transformative capacity to process large-scale datasets and forecast market behavior with greater precision. At the same time, the research acknowledges current AI limitations and advocates for a hybrid approach that integrates AI with traditional forecasting techniques and ongoing algorithmic improvements. Recommendations stress the importance of interdisciplinary collaboration among AI developers, ethical scholars, and financial professionals to create AI systems that are transparent, ethically responsible, and operationally effective. Overall, this paper provides an extensive overview of AI’s impact on financial forecasting, offering valuable insights for future research. It highlights both the substantial opportunities and complex challenges AI introduces to stock market analysis, marking a significant step toward more data-driven decision-making in finance.