The Role of Artificial Intelligence and Machine Learning in Nigerian Accounting

Abstract

The integration of Artificial Intelligence (AI) and Machine
Learning (ML) into the accounting profession has
significantly transformed traditional practices. This study
examines the impact of AI and ML on the Nigerian
accounting sector, focusing on their practical applications,
benefits, challenges, and future prospects. Adopting a
descriptive survey research design, the study collected
primary data on AI and ML applications in Nigerian
accounting. Also, inferential statistical methods, specifically
multiple linear regression analysis, were employed to
explore the relationship between AI adoption and
accounting performance. The findings reveal a balanced
representation across gender and educational
qualifications. The majority of respondents (45%) fall within
the 20–30 age bracket, followed by those aged 31–40 (33%)
and 41–50 (22%). Gender distribution was equally split,
with male and female participants each accounting for 50%.
Furthermore, the results indicate that AI awareness has a
coefficient of 0.58, suggesting a positive relationship
between AI awareness and accounting performance.
Similarly, the coefficient for AI usage is 0.43, demonstrating
a positive and significant relationship between AI tool
adoption and accounting performance. The intercept value
of 2.35 represents the expected level of accounting
performance when both AI awareness and AI usage are zero.
Overall, the findings suggest a growing acceptance and utilization of AI and ML in Nigerian accounting. While the
benefits are widely recognized, addressing challenges such
as cost, complexity, and training requirements will be
essential for broader adoption and optimal outcomes.