“Change is the only constant” - Heraclitus

In this complex and changing environment, it is crucial to have available adequate, updated and suitable information to make decisions effectively and efficiently. Artificial Intelligence is a new technology available in accounting software, which is making a significant impact on the accounting and finance sector. Artificial Intelligence refers to machine processes that simulate the way humans think. This research paper highlights the impact of new technology in the world of accounting and how Artificial Intelligence enhances several accounting processes. This research paper also studies the impact of Artificial Intelligence on accountants and suggests six different skills and abilities that accountants need to embrace to keep them ahead of their AI counterparts.

KEYWORDS: Artificial Intelligence, Accounting, Accountants, Technology, Skills.