This chapter explores artificial intelligence (AI) and machine learning (ML) applications in financial services, focusing on accounting, auditing, and finance. It traces AI’s evolution from rule-based systems to advanced deep learning technologies and analyses its impact across three key domains: accounting automation, audit risk assessment, and financial trading. Research reveals significant improvements, including 50% reduction in fraud detection false positives, 70% increase in audit automation, and 35% enhancement in risk assessment accuracy. Despite these advances, challenges persist in algorithmic bias, regulatory compliance, and ethical implementation. The chapter concludes by highlighting emerging trends such as quantum computing, integrated compliance systems, and predictive analytics.