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It won’t. It will help replace AP/AR and tedious repetitive tasks. From a financial reporting perspective for AI to handle accruals, management decisions accounting for them, investigating reconciling items, theres just so much more judgement when it comes to booking actual journal entries. If anything AI will make day to day tasks of accountant EASIER through automation but an accountant still needs to be there to make sure everything is right and presents it in the way management wants to see it.
You can tell an AI to build a financial statement 10 times and 9 times out of 10 someone will not like how certain numbers look or how notes are written, even if AI can automatically do all that, you will still need someone to check or audit it, if anything you probably need even more auditors.
Can you really have AI run an entire accounting department without much oversight? Accounting jobs will always exist regardless of how powerful AI gets because someone needs to be there to make sure everything is reporting accurately correctly.
Agreed, accounting jobs may decrease in quantity but they will always be there in some capacity
Pro
They said Microsoft excel would decimate the accounting industry. Yet here you are still working 65 hrs a week for 4 months.
I hope AI can pass my CPA exam for me