AI Adoption Roadmap: Top Considerations

The adoption of AI in accounting came slowly then all at once, as they say. It is no longer a matter of if, but how quickly firms and their clients embrace the technology as a tsunami of AI enabled tools and use cases envelopes the profession. Consequently, the roles and expectations of CPA’s are shifting. As quickly as some functions are made obsolete, new opportunities are being born. How AI is used will be a key differentiator among tech-enabled firms, and a competitive advantage over those that do not. While accelerating the adoption of AI will be necessary to stay competitive it still requires considered and careful planning as the risks and challenges are becoming more apparent. Building an AI adoption roadmap that is both aligned to your firm’s strategy and also recognizes risks of data privacy, bias, accuracy, lack of regulation and even hallucinations is now necessary. As AI increasingly becomes our teams’ digital colleagues it will be important to find out how to balance AI with human intelligence, craft job descriptions for your new digital employees and establish their competencies, acceptable behaviors and an expectation of a biased-free performance.