AI in Accounting and Finance: Enhancing Decision-Making

The integration of Artificial Intelligence (AI) in accounting and finance is reshaping traditional practices and enhancing decision-making capabilities across the sector. This study explores the strategic impact of AI on managerial performance, focusing on its role in improving financial data accuracy, cost efficiency, and risk management. By automating repetitive tasks and processing vast datasets, AI enables financial professionals to shift their focus from routine operations to strategic activities, thus fostering innovation and enhancing overall organizational performance. The research highlights significant benefits of AI, including improved accuracy in financial reporting, which is crucial for compliance with regulatory standards, and enhanced risk management through predictive analytics. These capabilities allow organizations to identify potential risks proactively and make informed decisions in real time . However, the study also addresses challenges such as the high costs of AI implementation, particularly for small and medium-sized enterprises (SMEs), and concerns regarding data security and workforce displacement. Through a comprehensive survey of 292 respondents, the findings indicate that AI integration positively influences managerial performance by enhancing decision-making processes and operational efficiency. The study contributes to existing literature by emphasizing the need for ongoing education and training for financial professionals to adapt to the evolving demands of AI technologies. Ultimately, this research underscores the importance of embracing AI in accounting and finance not only as a tool for operational efficiency but also as a strategic asset that can drive long-term organizational success. Future research should focus on the unique challenges faced by SMEs in adopting AI and explore the broader implications of AI on managerial roles and skills in the financial sector.