Author(s): Meyad Diriba Abdi, Habtamu Abafoge Dobamo, Kefiyalew Belachew Bayu
The current growth and advancement in new technology and invention is making the companies in stiff competition for surviving in the market. This study mainly emphasis to explore the current opportunity and threats of artificial intelligence on Small and Medium Enterprises accounting function from the evidence of southwest part of Ethiopia mainly Jimma from Oromiya region and Bonga from South nation peoples regional state. Thus, the rationale behind for undertaking this study is to explore the opportunity of new advancement in technology especially with that of artificial intelligence on SME’s accounting functions in the firms and examine the threats as well the way forward. Both primary and secondary data were used. Primary data was collected using structured questionnaires and Quantitative approach was adopted. Secondary data were from the existing theory based evidence and analyzed by using Qualitative approach. Thus, mixed approaches were utilized. Hence, the nature of the Study is descriptive and it is related to qualitative analysis method. The census or total universe inquiry method was applied since the study is easily manageable and total number of population on the study areas was selected which is below 50. The new advancement of technology (AI) is having possible opportunity for the firms and there a fear that the accountants are in lining with the upcoming technology. Therefore, better concentration has to be given for staff training and introducing them with the artificial intelligence or new technology unless the with the existence of stiff competition, it is known that the business may result in “big to fail”.