INTEGRATION OF ARTIFICIAL INTELLIGENCE IN MANAGEMENT ACCOUNTING: A SWOT ANALYSIS

Year 2024, Volume: 7 Issue: 1, 9 - 19, 19.07.2024

Şebnem Yaşar

https://doi.org/10.46238/jobda.1474352

Abstract

Today, information is the source of competitive advantage and businesses need to create information architecture that will enable them to make the right decisions in the fastest way. For this reason, it seems inevitable that businesses will reshape their entire business environments in a way that will create far-reaching consequences on business processes and prioritize technological progress by investing in artificial intelligence (AI) applications to create value with better performance. Management accounting is a business function that is central to identifying, collecting, measuring, and analyzing data. Therefore, these developments are expected to change management accounting practices and the roles of management accountants within the business. Although it is predicted that the main function of accounting in the future will be to create real-time value for the business by combining management accounting applications with AI, this combination also carries the potential to create significant problems. The purpose of this study is to conduct a SWOT analysis and examine the strengths and weaknesses of the use of AI in management accounting and the opportunities and threats that may arise as a result of this integration.

Keywords

Management accounting, Artificial intelligence, AI, Machine learning, SWOT analysis

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