A STRATEGY OF SYNERGIZING BIG DATA AND ARTIFICIAL INTELLIGENCE IN ACCOUNTING: A COMPREHENSIVE REVIEW OF OPPORTUNITIES AND CHALLENGES

Abstract

The convergence of Big Data (BD) and artificial intelligence (AI) represents a transformative force within the accounting profession, offering the potential to enhance decision-making, improve fraud detection, and streamline financial reporting. This manuscript provides a comprehensive review of the opportunities and challenges associated with the integration of BD and AI in accounting, focusing on literature published between 2013 and 2023. Employing a systematic literature review (SLR) methodology, the study synthesizes findings from peer-reviewed journal articles, conference papers, and industry reports. The review highlights significant benefits, such as operational efficiency, strategic advantages, and the creation of new business models, which align with findings from Chen et al. (2012), emphasizing the transformative role of BD in financial decision-making. Additionally, it identifies critical challenges, including data privacy concerns, integration complexities, bias in AI models, and regulatory compliance issues, consistent with the challenges highlighted in Vasarhelyi et al. (2015) regarding AI’s predictive analytics and ethical considerations. The findings suggest that while the adoption of these technologies can significantly improve accounting processes, careful consideration must be given to ethical and legal concerns to ensure their responsible use. The manuscript concludes by discussing future research directions, emphasizing the need for empirical studies to validate theoretical insights and the development of transparent AI governance frameworks.