Chapter 2: Ethics Considerations in Artificial Intelligence-Driven Accounting and Business: Balancing Innovation, Accountability and Human Dignity

Rapid development in the field of machine learning and artificial intelligence (AI) in the domains of accounting and business holds enormous potential benefits; however, at the same time, it brings ethical challenges. Specifically, the chapter stresses the importance of exploring ethical considerations in order to avoid unintended negative impacts and related threats. Additionally, the ethical considerations include the need to guarantee that the development of AI promotes society with increased customer satisfaction and productivity while avoiding potential harmful impacts such as behavioural manipulation or intensification of mental health disorders. Additionally, the implications concerning human dignity arising from the adoption of AI are also the main ethical issue for both the developers and the end users of the applications. The authors believe that developers should include humanistic values in their activities and that policymakers should establish regulations that ensure autonomy, freedom and privacy rights. Organisations using AI must develop responsibility-prone cultures and ensure transparent decision-making within decision-making structures, ensuring that the technology is held morally responsible. It is crucial for organisations to aim at attaining high ethical standards and societal expectations for deploying AI through a persistent focus on ethical considerations that involve ongoing monitoring, ethical assessment and open practices. Additionally, privacy issues are closely entwined with ethical stewardship with regard to consumers’ data. For this reason, this chapter discusses the ethical considerations of AI across accounting and business domains.