Artificial Intelligence and Blockchain for Real-Time Financial Reporting: Automating Accounting, Reducing Fraud, and Enhancing Reliability
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This study examines how the integration of Artificial Intelligence (AI), automation, and Blockchain Technology (BT) can improve traditional financial reporting processes. Conventional accounting systems often depend on periodic reporting, manual reconciliation, human verification, and retrospective auditing, which may result in delays, errors, increased costs, and difficulties in detecting fraudulent transactions. This research proposes a technology-based financial reporting model in which AI is used to process and analyze transactions while blockchain provides a secure and traceable digital ledger. A comparative research design is proposed to examine the differences between a traditional financial reporting system and an AI-blockchain-based system using five performance indicators: monthly closing time, transaction error rate, audit hours, fraud detection accuracy, and reporting cost. The illustrative results indicate that the technology-enabled system can substantially reduce reporting time and transaction errors while improving fraud-detection accuracy and reducing audit effort and operating costs. The study suggests that integrating AI and blockchain may improve financial reporting reliability, transparency, and efficiency. However, implementation costs, cybersecurity, employee training, data quality, and regulatory uncertainty remain important challenges. The study concludes that AI and blockchain can complement traditional financial systems and potentially support the development of more continuous and technology-driven financial reporting.
Keywords
Accounting Automation, Artificial Intelligence, Blockchain Technology, Finance, Financial Reporting, Fraud Detection, Smes