Ethical Implications of AI in Accounting

Even though AI presents multiple benefits in accounting and has been widely adopted, there are various ethical implications attached to its use.

The letters AI on a digitized background.
(Image credit: Getty Images)

The evolution of artificial intelligence (AI) has significantly influenced all aspects of human life, such as business, education, law, accounting and many more. AI technology has enabled individuals and organizations to handle huge chunks of data within the shortest time, computerize repetitive and tedious tasks and hasten the decision-making approach.

These are among the benefits that accounting firms derive from the technology. Many accounting organizations are using AI in their daily operations. Even though AI presents multiple benefits in accounting and has been widely adopted, there are various ethical implications attached to its use, including the likelihood of bias, data privacy and security concerns, and transparency and accountability issues.

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Disclaimer

The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.

Amrita Choudhary
Senior Accountant

Amrita Choudhary, Senior Accountant at Wasabi Technologies