POTENTIAL IMPACT OF ARTIFICIAL INTELLIGENCE ON THE ACCOUNTING PROFESSION: WILL ARTIFICIAL INTELLIGENCE BE THE NEW CPA?

Monica Hubler
Cynthia Waddell
Jaclyn Felder-Strauss
Kristopher Blanchard
Broderick Martinez
Stanley W. Self
Purdue University Global

Abstract

Accounting professionals historically adapt to changing technologies. Since the early
2000s, the use of artificial intelligence (AI) technology has significantly expanded, leading many to
believe that it may affect the future of a variety of careers. AI may have a major impact on the future
of accounting, transforming the role of the accountant in education and lifelong learning, use of AI
tools and data analysis. AI will move the accountant from performing routine tasks to the more
advanced tasks of analysis, advisory services, and ethical decision-making for their employer or
clients. Those in the accounting profession who embrace these advances will secure their relevance
and success in the future. This study discusses the possibility of artificial intelligence being the new
CPA, and what the future may look like regarding AI technology in the accounting field. In addition,
this study discusses disadvantages of AI.

Keywords: Artificial system, applications, workplace challenges, data extraction, automated report generation,
auditing, fraud detection, disadvantages