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Abstract: The use of artificial intelligence (Al) builds up the accounting system efficiency, increases data entry accuracy and simplifying the accounting process. The aim of the study is to prove the effectiveness of modern Al-based information technologies (IT) in accounting and the possibilities of Al application for process optimization. The effectiveness and efficiency were proven using comparison methods, statistical analysis, graphical cause-and-effect analysis, modelling using the linear regression method. The assessment was carried out using quantitative and qualitative indicators of labour productivity and process optimization. The results of the study showed that 18 accounting department employees on average are needed to perform standard transactions in the companies studied without Al. With Al, 1 person can handle such a volume of work. Accordingly, with the implementation of Al, the average reduction in Transaction Processing Time per Week is 696.26 hours. Regression analysis confirmed that the implementation of Al increases the companies' productivity in terms of Transaction Processing Time. Reducing the Data Processing Complexity by one unit leads to a reduction in transaction processing time by 592.69 seconds. Each percent increase in Data Entry Accuracy contributes to a reduction in processing time by 5135.51 seconds. The prospects for implementing Al in accounting include further improving algorithms to increase the accuracy and speed of transaction processing, optimizing material and time consumed.

Keywords: artificial intelligence; accounting; financial management; digital environment; automation; machine learning; data analytics.

JEL Classification: M11; M15; M21; M41; C01.

Introduction

Solving complex accounting issues in the system of economic information flow and the formation of business on an increasing scale of accounting becomes relevant and appropriate. The solution implies the adoption and use of Al and programmes based on it. Al enables arranging information, provide quick access to databases, analyse and structure information, perform complex calculations in a short period of time, eliminate human error, etc. This is not a complete list of advantages, but it justifies the need to move accounting to a new level (Brukhanskyi, Spilnyk, 2020).

The latest implementation was Al, blockchain technologies, large databases. These technologies and programmes based on them have reduced the monotony and uniformity of work to almost zero, increasing the potential for data processing. Therefore, the use of Al in business management has become a relevant topic. Questions...

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