Embrace AI as a tool, focus on unique skills, and secure your future in accounting.
Generative AI is already making its presence felt in the $587 billion global accounting industry. And while top firms are excited about the possibilities, many accountants worry that the bulk of their day-to-day work will be automated, leaving them scrambling to find billable hours.
But accountants who serve as trusted advisors to their clients and go beyond number-crunching have little to fret about, even in the era of ChatGPT.
The Reality
As Deloitte launches a new practice aimed at harnessing the power of artificial intelligence and PWC announces plans to invest $1 billion in the technology, accountants are understandably excited—but also nervous—as generative AI moves deeper into the industry.
The current accounting shortage is "not necessarily a talent shortage." Talented accountants with the skill sets, experience and the desire to do the work are still out there — the big shift is when it comes to their work, those individuals don't "necessarily want to do it in the way that they've always been told that they have to do it."