AI Accounting Initiative Targets ‘Dramatic’ Impact on CPAs

The American Institute of CPAs is rolling out an initiative to help accountants understand the impact of generative artificial intelligence, it said Wednesday.

AICPA’s CPA.com technology subsidiary will specifically focus on generative AI’s applications in tax, audit, client advisory services, finance, practice management and marketing, it said in a statement.

• “Generative AI is going to have a profound impact on the accounting profession,” Erik Asgeirsson, CEO of AICPA’s CPA.com technology subsidiary, said at a Las Vegas conference on Wednesday. “While other technologies like cloud computing have transformed how firms deliver services, we believe generative AI’s impact could be much more dramatic and evolve much more rapidly.”
• The promise that AI tools will disrupt the accounting market has generated intense interest among businesses including Big Four members KPMG and PwC, both of which have recently announced new investments in AI.
• The group is planning on AI training events in the coming months.