The Impact of Artificial Intelligence (AI) on the Accounting System of Saudi Companies

The Impact of Artificial Intelligence (AI) on the Accounting System of Saudi Companies

January 5, 2024 | RANDA ABD ELHAMIED MOHAMMED HAMZA, NASARELDEEN HAMED AHMED ALNOR, EBRAHIM MOHAMMED AL-MATARI, ZAKIA SEID BENZERROUK, ABDELWHAB MUSA ELGALI MOHAMED, MOHAMED YOUCEF BENNACEUR, AHMED HESHAM MOAWED ELHEFNI, MONA M. ELSHAABANY
This study examines the impact of artificial intelligence (AI) on the accounting systems of Saudi companies. It explores how AI-driven automation, data analysis, and decision-making processes are transforming traditional accounting methods in Saudi Arabia. The research is based on a survey of key stakeholders, including accounting professionals, technology specialists, and business leaders, to understand their experiences and perspectives on AI integration. The study highlights several key findings: 1. **Enhanced Financial Analysis and Forecasting**: AI enables the processing of large volumes of data quickly and accurately, leading to improved financial analysis, risk assessment, and forecasting. This facilitates more informed and strategic business decisions. 2. **Cost-Effectiveness and Efficiency**: AI simplifies accounting processes and reduces the need for human labor, leading to cost savings and optimized resource allocation. This enhances overall financial performance. 3. **Impact on Workforce Dynamics**: The integration of AI into accounting procedures affects workforce dynamics, skill needs, and organizational structure. It may lead to job displacement in certain roles but also creates new opportunities in areas such as data analysis and automation. 4. **Challenges and Ethical Considerations**: The study also addresses the challenges and ethical considerations associated with AI in accounting, such as data security, privacy, and moral implications. 5. **Future Trends and Recommendations**: The research concludes by projecting future trends in AI and providing recommendations for improving the integration and application of AI in Saudi Arabian enterprises' accounting systems, considering infrastructural needs, skill development, and regulatory frameworks. The study uses a survey design with a sample of 213 accountants, auditors, and employees from Saudi companies. Data were collected and analyzed using SPSS version 22, and the results support the hypotheses that AI positively impacts the accounting system in Saudi companies. The study contributes to the literature by providing empirical evidence on the effects of AI in accounting and suggesting areas for further research.This study examines the impact of artificial intelligence (AI) on the accounting systems of Saudi companies. It explores how AI-driven automation, data analysis, and decision-making processes are transforming traditional accounting methods in Saudi Arabia. The research is based on a survey of key stakeholders, including accounting professionals, technology specialists, and business leaders, to understand their experiences and perspectives on AI integration. The study highlights several key findings: 1. **Enhanced Financial Analysis and Forecasting**: AI enables the processing of large volumes of data quickly and accurately, leading to improved financial analysis, risk assessment, and forecasting. This facilitates more informed and strategic business decisions. 2. **Cost-Effectiveness and Efficiency**: AI simplifies accounting processes and reduces the need for human labor, leading to cost savings and optimized resource allocation. This enhances overall financial performance. 3. **Impact on Workforce Dynamics**: The integration of AI into accounting procedures affects workforce dynamics, skill needs, and organizational structure. It may lead to job displacement in certain roles but also creates new opportunities in areas such as data analysis and automation. 4. **Challenges and Ethical Considerations**: The study also addresses the challenges and ethical considerations associated with AI in accounting, such as data security, privacy, and moral implications. 5. **Future Trends and Recommendations**: The research concludes by projecting future trends in AI and providing recommendations for improving the integration and application of AI in Saudi Arabian enterprises' accounting systems, considering infrastructural needs, skill development, and regulatory frameworks. The study uses a survey design with a sample of 213 accountants, auditors, and employees from Saudi companies. Data were collected and analyzed using SPSS version 22, and the results support the hypotheses that AI positively impacts the accounting system in Saudi companies. The study contributes to the literature by providing empirical evidence on the effects of AI in accounting and suggesting areas for further research.
Reach us at info@study.space
Understanding The Impact of Artificial Intelligence (AI) on the Accounting System of Saudi Companies