Chapter 22: The Future of Accounting With Artificial Intelligence in Emerging Economies

This study aims to address a critical gap in the literature by systematically reviewing existing research to explore how artificial intelligence (AI) is reshaping the future of accounting in emerging economies. A comprehensive and systematic literature review was conducted using established academic databases, including Scopus and Web of Science. A total of 58 peer-reviewed articles were selected based on predefined inclusion criteria. These studies were analyzed to extract insights on the role of AI in the accounting industry within emerging economies. The findings indicate that the future of accounting is increasingly shaped by the convergence of automation and AI, driving a fundamental shift in how financial information is processed, analyzed, and utilized. Automation streamlines routine tasks, enhances efficiency, and reduces errors in functions such as bookkeeping, data entry, and reconciliation. This transformation allows accountants to focus more on strategic, value-added activities. Robotic process automation (RPA) further fosters a collaborative environment where human judgment is complemented by machine precision. Thus, as AI and automation transform the field, accountants must enhance their skills in analytics, technology, and strategic thinking. Educational institutions should revise curricula to include AI literacy, data ethics, and advanced digital tools. Organizations can benefit from AI and RPA through cost savings, improved accuracy, and greater efficiency. However, effective adoption necessitates staff retraining, ethical safeguards, and robust data governance. Firms must also navigate evolving workforce roles, fostering collaboration between human expertise and machine capabilities. Adapting to these changes is crucial to maintaining the profession’s relevance and readiness for the future.