TL;DR
- AI is reversing the documentation-heavy workflow that has burdened accountants in recent years.
- Over 70% of accountants believe AI will substantially transform the industry by automating routine tasks.
- AI-powered tools are already improving productivity, decision-making speed, and client service quality.
- Accountants are shifting into advisory roles as AI handles compliance, bookkeeping, and reconciliation tasks.
- The profession is evolving, not disappearing—new skill sets and job roles are emerging alongside automation.
Accountants once spent 90% of their time performing fieldwork and only 10% of their time documenting their findings. That ratio has now completely reversed, creating a transformation that technology promises to overturn once again. According to the 2024 State of AI in Accounting Report, 71% of accountants believe AI will bring substantial change to the accounting industry, signaling a seismic shift in how financial professionals approach their work.
“So it used to be back in the day, people spent 90% of their time in the fieldwork doing the work and 10% documenting. Now it’s switched around because there’s so much pressure from regulators to focus on documentation,” explains seasoned CPA and business leader Marko Glisic, Partner at GreenGrowth CPAs, who has witnessed this evolution firsthand through his eight years at Deloitte and subsequent leadership in cannabis industry accounting. “I think with AI we’ll largely be able to automate a lot of the documentation.”
The Current State of AI Adoption in Accounting
The momentum behind AI adoption in accounting has reached a critical mass. Deloitte survey data shows 58% of accounting firms have adopted some form of AI by 2024, with 45% claiming to see better efficiency and accuracy. This adoption reflects the profession’s recognition that traditional methods can no longer keep pace with modern business demands.
New data from the 2025 State of AI in Accounting Report reveals that 64% of accountants are using AI to compose emails and fine-tune their writing tone, while 41% are using AI to automate their workflows. These statistics indicate more than incremental improvements; they signal a fundamental restructuring of the accountant’s daily responsibilities.
Financial commitment to this transformation is substantial. Global firms spent approximately $4 billion on AI in accountancy-related applications during 2023, with McKinsey projecting this figure to rise to $10 billion by 2025. This investment surge reflects the industry’s belief that AI is a complete reimagining of how accounting functions operate, a perspective shared by industry veterans who have built successful practices across multiple sectors, including emerging markets like cannabis.
Traditional Tasks Facing Elimination
Accounting tasks susceptible to automation read like a comprehensive inventory of traditional bookkeeping responsibilities. AI-powered systems with Optical Character Recognition (OCR) technology can automatically scan paper invoices, receipts, or other documents, extract key information, and input this data directly into accounting software, eliminating hours of manual data entry that once defined entry-level accounting positions.
Document management systems now handle the collection, sorting, and storage of client documents in secure environments, eliminating the need for manual filing and organization. These systems don’t simply digitize existing processes; they fundamentally reimagine how financial information flows through an organization.
Bank reconciliation, once a time-consuming monthly ritual, has become increasingly automated. AI-powered bookkeeping systems can now connect with various data sources, including bank feeds and payment gateways, to handle and analyze financial data in real time. The technology matches transactions, identifies discrepancies, and flags anomalies without human intervention.
“Think of it now, with some of the technology for example, you have those glasses that can record things live right so as you’re doing the work it’s already recording it right so maybe now the AI can then take all those steps and write it out what you did,” explains Glisic in recent industry discussions, describing how even complex audit procedures could be transformed. “Between the glasses and the AI guy just following everything you do and then transcribing and recording him. And that’s super powerful.”
The Productivity Revolution
Efficiency gains from AI implementation are staggering. Advanced AI users save 71% more time than beginners: 79 minutes versus 49 minutes daily. Firms that invest in proper AI training see employees save 22% more time than those without training, a difference of 40 hours annually per employee.
A Salesforce study found that 84% of finance staff say they’re able to make decisions faster thanks to automation tools. This acceleration extends beyond simple task completion to fundamental improvements in service delivery. Ninety-three percent of CFOs have experienced shorter invoice processing times thanks to digital technologies and automation.
“I believe it will largely automate tasks, and I think that’s beneficial for everyone. For professionals, I believe it will significantly boost their productivity,” Marko Glisic predicts in a detailed analysis of the industry’s future. “So, I think the rates per hour will increase. I believe the fees for clients will decrease, but on the other hand, the hourly rates will go up. It’s going to be fascinating.”
Beyond Basic Automation
AI evolution in accounting extends far beyond simple task automation. Agentic AI refers to AI systems that have the capability to act independently to accomplish goals and tasks, meaning it can autonomously gather and categorize transaction data, apply accurate tax treatments, and help users throughout the tax filing process.
Firms use AI-powered algorithms in tax research tools to return data from human-edited, tax-specific content, providing authoritative answers from trusted sources quickly and accurately. This capability transforms tax research from a manual, time-intensive process to an instantaneous retrieval of relevant, vetted information.
AI will help simulate different financial scenarios and allow businesses to forecast the potential outcomes of various decisions, moving accounting from historical record-keeping to forward-looking planning. The leadership team at GreenGrowth CPAs has embraced these technological advances, demonstrating how specialized firms can leverage innovation to serve complex, regulated industries more effectively.
Advisory Services Take Center Stage
While AI eliminates routine tasks, it simultaneously elevates the accountant’s role to that of an advisor. “I mean, I think with a lot of clients, we can hopefully start going deeper and being in a more advisory role,” Marko Glisic explains. “If you’re spending all this time with clients, and now you have AI cranking a lot of work, analyzing a lot of data. Now you can start doing a lot of storytelling with your clients, right?”
This shift marks a fundamental reimagining of the accountant-client relationship. Freed from routine tasks, firms can focus on higher-value services, allowing them to move from traditional hourly billing to more lucrative alternative pricing models such as value-based and fixed-fee systems.
“Hey, this is where I think you could improve. Right. This is where I think your processes are lacking,” Glisic illustrates the type of strategic insights accountants can provide when freed from routine tasks. “For a CFO or a board of directors to have a trusted advisor that provides them valuable information like that, that’s huge.”
Workforce Implications and Adaptation
Transformation brings both opportunities and challenges for accounting professionals. While 58% of accounting professionals are not worried that AI will replace them, 59% believe that bookkeeping will be the most disrupted function by AI.
Automation is expected to eliminate 83 million jobs over the next five years across all industries, but the accounting profession shows signs of evolution rather than elimination. The World Economic Forum’s Future of Jobs Report 2025 estimates AI will create 170 million new jobs globally by 2030, potentially leading to a net gain of 78 million jobs.
Over a third of tax firm survey respondents said GenAI skills were a factor in their current hiring practices, indicating that the profession is actively adapting to incorporate new competencies rather than simply reducing headcount. This adaptation is particularly evident in specialized sectors where regulatory changes continue to reshape business models and create new opportunities for advisory services.
“As CPAs, we have insight into all of that. We just don’t get to it because we don’t have time. You’re kind of stuck with the compliance, you’re stuck with documentation,” Marko Glisic notes. “But now, if you can automate that, you can go deeper. It’s going to be a great, great experience for clients.”
The Transformed Profession
Accounting in 2025 and beyond will bear little resemblance to its traditional incarnation. Automation could lead to a reduction of 30% in time associated with manual operations in accounting firms by 2025. This time savings doesn’t translate to unemployment but rather to a fundamental reallocation of human capital toward higher-value activities.
Among finance teams using AI, the most common applications are data analysis (55%), predictive modeling (47%), generative AI (~33%), and anomaly detection (~33%). These applications form the new core competencies of the modern accountant, skills that complement rather than compete with AI capabilities.
Technology shifts that Marko Glisic describes aren’t merely about efficiency gains or cost reduction. They signal a fundamental reimagining of the accounting profession’s value proposition. Traditional tasks become automated, and accountants must embrace their transformation from number-crunchers to advisors, from compliance officers to business partners. This evolution extends beyond traditional accounting into areas where business valuation expertise becomes increasingly critical for emerging industries.
“It’s super powerful. And now it’s just like again, but it’s a matter of then being able to sit down, look at it, and do the storytelling,” Marko Glisic concludes, capturing the essence of this transformation. The future belongs to accountants who can harness AI’s computational power while applying uniquely human judgment, creativity, and thinking to guide businesses through an increasingly complex financial environment.
Frequently Asked Questions
How is AI changing the daily work of accountants?
AI is automating documentation, reconciliation, and data entry—tasks that once dominated accountants’ time. This shift allows professionals to focus more on advisory services and strategic decision-making.
What accounting tasks are most likely to be automated by AI?
Tasks like bank reconciliation, invoice scanning, document management, and tax research are increasingly handled by AI using OCR, machine learning, and agentic AI technologies.
Is AI adoption widespread in the accounting industry?
Yes. By 2024, 58% of firms had adopted some form of AI. Usage ranges from email drafting to workflow automation, with global AI spending expected to hit $10 billion by 2025 in accounting-specific applications.
Does AI threaten accounting jobs?
Not necessarily. While some roles may change or be eliminated, AI is creating new job opportunities. Accountants are evolving into higher-value roles that focus on forecasting, advising, and data storytelling.
What skills will future accountants need in the age of AI?
Future accountants will need skills in data analysis, predictive modeling, anomaly detection, and generative AI. Soft skills like communication, critical thinking, and storytelling will also become more important.