Efficiency Gains
The accounting tasks increasingly being automated by AI tools.
What are data entry, transaction matching, and financial statement preparation?
The type of accounting tasks that AI is automating, leading to role shifts.
What are repetitive bookkeeping and compliance tasks?
A significant long-term benefit of AI implementation in accounting
What are reduced labor costs?
The reported percentage increase in productivity for accounting and finance departments using generative AI on tasks like compliance and audit preparation.
What is up to 30%?
A key benefit clients may experience from AI integration in accounting services.
What is faster, more accurate services?
The type of automation shown to reduce human error and improve compliance.
What is Robotic Process Automation (RPA)?
The types of roles accountants are increasingly moving towards.
What are higher-level analytical and client-facing roles?
The reported increase in audit accuracy from AI-assisted accounting systems.
What is 40%?
The strategic focus shift observed in accounting firm mission statements with the advent of AI.
What is pivoting toward innovation, agility, and insight generation?
The percentage of accounting clients reporting long-term trust as a primary reason for continuing engagement.
What is over 60%?
The potential annual economic addition from generative AI across various sectors, including accounting and finance.
What is $2.6 trillion to $4.4 trillion?
The skills that are in increasingly higher demand and better rewarded in the accounting profession due to AI.
What are strategic thinking, AI proficiency, and client advisory services?
The average payback period firms experience after implementing AI in their accounting workflows.
What is 18 to 24 months?
The benefit that AI provides to accounting firms as they expand their client portfolios.
What is consistent performance and accuracy at scale?
The potential impact of AI on the pricing of less complex accounting services.
What is making it more accessible for smaller firms and individuals?
The percentage faster monthly close cycles experienced by companies using AI-based reconciliation platforms.
What is 40-60% faster?
The estimated percentage of employees' skills that will be disrupted in the next five years, requiring retraining.
What is 44%?
The initial investments required for AI adoption in accounting.
What are infrastructure, training, and integration?
What larger accounting firms have begun redirecting manpower towards with the aid of AI.
What are data-oriented specialties such as ESG reporting and risk analysis?
What stakeholders will use AI to track in accounting firms.
What are rising profits, strategic expansion, and increasing firm value?
The percentage reduction in audit cycle times demonstrated by KPMG’s AI-powered audit platform, Clara.
What is a 35% reduction?
The predicted outcome for accounting professionals who utilize AI applications and expand their skills.
What are better career prospects and monetary compensation?
The percentage by which organizations implementing AI in accounting processes reduced labor costs within the first two years.
What is 30-50%?
The overall economic outcome for firms that adopt AI thoughtfully and strategically.
What is greater profitability and increased competitiveness?
The estimated annual global value expected from generative AI that professional services could capture a significant portion of.
What is $4 trillion?