Integrating Artificial Intelligence (AI) in the Accounting System of Non-Governmental Organizations (NGOs): A Critical Evaluation in the Indian Context

Abstract

Every realm of the modern world has been marked by technological advancements; this study meticulously explores avenues of integrating artificial intelligence (AI) in the accounting systems of Non-Governmental Organisations (NGOs) in the Indian context. As NGOs play a pivotal role in the financial sustainability of India, the advent of AI in the accounting system of NGOs advocates a paradigm shift in efficiency in accounting, accuracy in bookkeeping, transparency in financial reporting, strategic and predictive financial analysis, assessing the impact of NGOs in the economic development of the country, detecting fraudulent activities and the future financial prospects of NGOs too. This study also highlights how to reduce the gap between the traditional accounting system and the revolutionary accounting system by harnessing AI in the accounting systems of NGOs. The study not only examines the challenges that arise while integrating artificial intelligence into the accounting systems of NGOs but also underscores strategic recommendations to overcome the hassles of the integration of AI into the accounting systems of NGOs.