Accounting Today’s new report dives into AI’s impact on accounting.

TLDR:

• Research report explores the role of AI in accounting
• Majority of accountants not currently using AI

A new research report from Arizent, parent company of Accounting Today, delves into the impact of AI in the accounting profession. The report reveals that while most accountants anticipate AI changing their jobs and creating new opportunities, the majority are hesitant to embrace AI currently.

Accounting Today Releases Unleashing the Power of AI Research Report

The research report by Arizent, sponsored by Thomson Reuters, discusses the evolving role of AI, particularly generative AI, in accounting. Despite high expectations for AI to revolutionize the accounting profession, a significant portion of accountants are not currently utilizing AI and express reluctance towards adopting it in the near future.

Key points highlighted in the research report include:

• 70% of respondents believe AI will have a positive impact on their jobs
• Majority of accountants are not using generative AI and lack plans for future adoption
• Concerns about AI include trust issues, potential degradation of client relationships, and cybersecurity risks
• Education and international standards are seen as essential for increasing AI adoption in accounting

The report emphasizes the importance of staying informed about AI advancements in order to remain competitive in the rapidly evolving landscape of accounting. Despite initial hesitation, the potential benefits of AI adoption, such as increased efficiency and job creation, are significant factors pushing the profession towards AI integration.