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Is AI Taking Over Accounting?

Artificial intelligence and automation are transforming many industries and professions, including accounting. As professionals across the country grapple with the implications of the rise of automation, many of our candidates are starting to wonder, “Will AI replace accountants?” 

The short answer, much to your relief, is “No!” Human accountants remain essential. But let’s explore what AI in accounting means for you

AI is Automating Many Accounting Tasks

AI can handle routine tasks like data entry, categorization and reporting more efficiently and accurately than humans. Many fundamental accounting processes like accounts payable/receivable, general ledger accounting and budgeting have seen increased automation, and this trend will continue

This will change the nature of some accounting roles and jobs. It also increases the demand for specialization within the accounting field, incentivizing professionals to prioritize continued education and career development. 

Human Judgment and Relationships Remain Essential

AI is unlikely to completely take over accounting any time soon. Accounting requires significant human judgment, critical thinking and relationship management that AI has not yet mastered. 

Auditing, consulting, tax planning and high-level strategic financial advice are examples of accounting services that will still require human CPAs and accountants. Perhaps most importantly, clients and customers continue to value the human touch.

The Future is AI-Human Partnership

The future of accounting, like many professions, will likely involve a hybrid of human workers and artificial intelligence. AI can handle routine tasks while humans focus on high-value and complex services. AI may significantly transform accounting but accountants and CPAs with expertise in emerging technologies will continue to thrive.

Find Leading Human Accounting Talent

While artificial intelligence and automation are changing accounting in many ways, human skill remains indispensable. Automation and AI are more likely to augment human accountants rather than completely replace them

TalentSpark remains committed to building fulfilling professional environments through meaningful recruitment services. We combine unparalleled regional knowledge with a national network of leading accounting talent. Contact us today to start your search for the best human for the job.