AI is here.
The impact on the accounting industry will be generational. In the most conservative estimate, we’ll see continuous improvements over the next 10 years during a gradual transition phase. In the most aggressive scenario, the industry will change within a couple of years, disrupted by AI-powered business models and tech innovation.
The fear of AI often forces us to look within. How will this impact me? And my job?
Yet we overlook a more important question: What are the core principles of accounting? How can I advance my industry? Why did I get into this profession?
If we focus on the future of accounting, we appropriately reframe the discussion as it should be: the human—as always—in control, the AI (like new technologies before it) as a tool.
The one caveat: AI is a more powerful tool than anything we’ve encountered before. And it’s perfectly positioned to accelerate knowledge-based and services-oriented industries like accounting.
Our goal in this paper is to provide a light framework for our customers and community as we wade into the generation of AI. We hope you’ll join the discussion.