The accounting profession has a higher-than-average enthusiasm for artificial intelligence compared to other sectors, based on average investments.
This is according to
Similarly, accountants see more of a future for AI in their profession than in others. The poll found that 72% of accountants and finance experts believe the use of AI within their organizations will grow over the next three years and beyond, compared to 65% overall and 43% for law and other professional services.
They are also a little less eager to use AI to reduce headcount. On average, 22% of poll respondents saw reducing headcount and lowering payroll expenses to be the reason they are turning to AI — while slightly fewer accountants, 20%, said the same. This is in marked contrast to respondents from the automotive and aviation industries, which have also made major AI investments: There, 31% view reducing headcount as the main benefit of the technology.
In terms of who is investing the most in AI, the No. 1 spenders have been in IT and tech, followed by accounting and finance, then automotive/aviation, then property and real estate, and then manufacturing/distribution. Accounting and finance, where it has been argued for several years that automation could be transformational, has an AI investment and adoption rate above 80%. The lowest spender on AI was the government/public sector.
"It is clear from our latest research that accountants are light-years ahead of their counterparts in the law and other professional services when it comes to cutting-edge advances in AI. It is our view that, in the very near future, AI will be looked upon in the same light as other indispensable tools like email or a smartphone. Our profession clearly agrees with us," said Moore Global CEO Anton Colella.
The report added that there has been an overall 77% increase in AI adoption and investment since 2019.
