With AI and automation on the rise, I’m getting concerned about job security. Reports suggest that up to 40% of accounting tasks might be automated in the next decade. It’s making me consider a career change before it’s too late.

For those in the same boat, what future-proof fields are you looking into? I’m exploring data analytics and cybersecurity but am open to other ideas. How are you leveraging your accounting skills to transition, and what steps are you taking to reskill or upskill?

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General / corporate accounting work definitely. Like posting JEs, etc. but no public company in a SOX environment is going to get passed on an audit saying “chatgpt showed us this and we blankly relied”. More than likely it will continue to be used and updated for efficiency, like using it to prep a workpaper, perform initial analysis of agreements in order to assess ASC application, but still will need a reviewer. Back office bookkeeping definitely more at risk.

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Sorry didn’t answer the 2nd. Future proof would definitely be more accounting advisory, M&A and transactions, and audit lol (lot of judgement in applying firm standards in my opinion)

How will genAI replace us?

Currently what I’m seeing is that genAI is making workers more efficient.

No one has adequately explained to me how genAI will fully replace accountants.

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I’m learning debits and credits. Think those will be extra valuable

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AI will not replace accountants. They will only provide tools to aid in processing data. One still needs experience and expertise to do the jobs. If you have been taking any CPE’s, you’ll note that relying on AI solely is sanctionable and subject to loads of licensure for accountants and attorneys.

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