In 2024, AI will let accountants automate many repetitive and mundane tasks, allowing them to focus more on specialized and advisory services for their clients.

Aiwyn, based in North Carolina, leverages artificial intelligence technology to manage the entire revenue cycle process from start to finish.

The biggest misconception about AI and the accounting industry is that it will make human accountants obsolete. AI cannot replace human judgment ...

Yes, AI can process data and perform calculations with speed and accuracy, but it lacks the ability to make nuanced ethical decisions, and that's why we still need—and will still need—accountants who bring their ethical insights and context to their work.

AI can help with specific aspects of audit and advisory engagements, including reviewing information, drafting content and providing recommendations.

Any technology with deterministic behavior is not artificial intelligence. For example, rules-based systems, pre-defined decision trees, ...

It's no longer just about automation; the conversations have evolved to exploring how AI can enhance advisory roles and improve decision-making.

By 2025, AI will be deeply embedded in accounting workflows in three key areas: Optimizing firm operations: AI will provide real-time insights into firm efficiency, routing work based on expertise and capacity while identifying opportunities for service expansion.

In this final part of our annual AI Thought Leaders Survey, our experts share what they think of the technological singularity.