The financial statement is very key in the making of major organizational decisions in the changing financial and business arena. The whole picture of the level of financial health, performance, and potential risks of a company requires extensive evaluation of financial data. Over the last few years, financial statement analysis witnessed revolutionizing changes on the technological front, one of them being the Artificial Intelligence (AI) and data analytics new era, apart from specially developed software solutions. The following article looks at the ways these technologies and tools are revolutionizing the process of analyzing financial statements with a specific focus on how they help delve deeper for insights, make informed decisions, and improve efficiency.