Artificial Intelligence and Accounting - How AI Could Redefine the Accounting Profession

The Fourth Industrial Revolution, with AI as one of its primary driving forces, is fundamentally transforming how companies operate and individuals live. At the core of this revolution lies the imperative to adapt, as failing to do so could mean dying rather than evolving, as Darwinian theory would suggest. In this context, businesses should align with the logic of the revolution, adopting its principles not only as a pathway to success but as a means of survival. This dissertation will focus, in particular, on the profound impact of AI on the accounting profession that, as any other character under the paradigms of Industry 4.0., is subjected to the same rules. The objective will consist of demonstrating the opportunity that artificial intelligence tools could bring to the profession, while addressing the associated threats and implicit costs, to ensure value creation rather than destruction. To achieve this, the dissertation will examine how artificial intelligence has evolved over time and reshaped various aspects of the world, how the accounting profession has developed to date, the challenges it currently faces and how the adoption of AI could address these challenges, presenting various applications. After contributing to the understanding of how AI could redefine the accounting profession and guide its evolution in the face of the revolutionary changes, a Structural Literal Review will be conducted and, as a consequence, the current state of AI adoption in accounting will be assessed, supported by available studies, in the attempt of standing “on the shoulders of giants” to extract insight of the future direction of the research.