Impact Of Artificial Intelligence in The Future Work in Accounting: An Emerging Market Perspective

Abstract

This research paper explores the factors influencing the future of work within the accounting and finance profession in Malaysia, with a focus on the impact of Artificial Intelligence (AI). The study examines seven key variables: Fundamental Data Skills, Ability to Automate, Storytelling Ability, Specialized Industry Skills in Technology, Cultural Change, Data Integrity, and Internal Policy. A quantitative approach was employed, utilizing a questionnaire to collect data. The results indicate a positive correlation between AI's influence on the future of work and the factors of fundamental data skills, ability to automate, and data integrity. Conversely, a negative correlation was observed between AI's impact on the future of work and professionals’ abilities, specialized industry skills in technology, cultural change, and internal policy. Given AI's pivotal role in shaping the future of work, it is essential for accounting and finance departments to adopt this technology and cultivate new skills to remain relevant. Despite concerns, accountants and finance professionals should not fear job losses due to AI, as their expertise in analyzing and interpreting AI-generated data and providing consulting services will remain indispensable.