ABSTRACT
“This study seek to examine the Application and benefits of artificial intelligence in the accounting profession in Nigeria, with a specific focus on selected companies in Edo state.The researcher adopted questionnaire in collecting relevant information for the study using a sample size of 50 finance staff from the finance staff and/or accountants of selected companies in Edo state.
The gathered data were examined using descriptive statistics, correlation analysis and regression techniques were used to analyze the data in order to achieve the research objectives.
The study regressed the relationship between accounting practices and the benefits of implementing AI in accounting.
This study employed the Ordinary Least Square Method and the empirical results revealed that there is a significant positive effect of AI on the performance of accounting functions, a significant negative relationship between AI adoption and traditional accounting practices, Automation of accounting processes significantly correlates with the displacement of accountants and the relationship between AI implementation and the encountered benefits is not overwhelmingly significant, it suggests that the benefits of AI are nuanced.
The study recommends amongst others that Stakeholders in the accounting profession should prioritize investment in AI education and training programs to equip professionals with the skills needed to effectively utilize AI technologies, Organizations should strategically integrate AI into their accounting processes, ensuring alignment with organizational goals and effective change management strategies and Regular monitoring and evaluation of AI implementations are crucial to identify challenges early and adapt strategies accordingly.”
