The State of AI, Machine Learning, and Accounting

It wasn't long ago that cloud technology was emerging as a potential disruptor to the accounting profession. In the beginning, many didn't foresee that cloud adoption would become so widespread, but now it's becoming the standard and we're looking at an even larger potential disruptor: artificial intelligence (AI) and machine learning. As I'll share at an upcoming session at AICPA Engage, we are at another inflection point in accountancy. AI and machine learning systems are already powering the technology we use in our everyday lives, and now, accounting technology companies are experimenting with and implementing them in their platforms. A new report by Asian broking firm CLSA studies six sectors that will see material changes where AI and machine learning may cause some disruption, highlighting short-term growing pains in the tech and accounting professions.