Management accounting and artificial intelligence: A comprehensive literature review and recommendations for future research

Digitalization and artificial intelligence (AI) technologies have the potential to disrupt and transform the management accounting domain and the role of accountants. The study systematically reviews 91 articles, synthesizing scholarly work on digitalization, AI, machine learning (ML), deep learning (DL), explainable AI, generative AI, and large language models (LLMs) in management accounting. In this context, the value of the paper is multi-fold. First, we argue that these technologies transform accounting information and organizational structures, affecting the accounting function's relationship with other organizational functions. Second, they present new challenges for management accountants, including data privacy, confidentiality, security and ethical concerns. Third, digital technologies automate basic accounting tasks and decision-making processes, potentially reshaping management accountants' roles and skills in terms of job elimination, upskilling, deskilling and reskilling. Fourth, these technologies create new opportunities for multidisciplinary collaboration and redefine professional boundaries. This paper contributes by discussing the impact of digitalization and the latest AI technologies on management accounting, illustrating how they can create business value, and highlighting associated challenges and risks for the profession. It proposes research agendas and potential research questions for future studies, providing insight into the potential impacts and implications for the accounting profession and the role of accountants.