The world of Accounting has evolved over the past four centuries. Every addition to the world of accounting was made on sound concepts and models. Time has played an important role in the development and growth of Accounting. The early nineties gave the first major boost to the world of accounting by introducing computerization. Transfer of records from manual books to digital form was considered as the biggest achievement of human invention. The computerization ensured introduction of various apps for helping the corporate world. However, the advent of artificial intelligence played a huge role in disrupting the regular practices of accounting. AI in its various forms has brought a revolution for risk assessment, robotic process automation, block chain technology and Accounting Information System. This paper analyses and discusses the extent of disruption in each of the above fields by introduction of AI. Better Analysis and perfection in accuracy are some of the biggest advantages drawn home due to introduction of Artificial intelligence in the world of Accounting. AI has simplified the Invoice Processing system, Bank Reconciliation process and even the Tax Processing system at all levels.