Accounting Profession to Experience Highest AI Impact

A new research report hints at future opportunities for accountants.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

OpenAI, the creator of the wildly popular artificial intelligence (AI) tool ChatGPT, conducted a new research study with the University of Pennsylvania. It identified the occupations with the most significant impact potential because of large language models (LLMs, like ChatGPT). Among the occupations with the highest exposure to AI are accountants, auditors and tax preparers!

MORE: Be Serious About AI, Not Amused
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What does it mean?

1. To quote some (edited somewhat for more straightforward reading) of the essential notes from the research:

Which occupations will see GPT-powered software saving workers a significant amount of time completing a task while maintaining equivalent quality? Workers facing higher (lower) barriers to entry in their jobs tend to experience more (less) exposure to LLMs. (GPT = generative pre-trained transformer.)

Posted on April 13, 2023

Hitendra Patil

About the Author

Hitendra Patil is the president of the Global F&A and CPA outsourcing services unit of Datamatics Business Solutions, Inc., a global provider of outsourced accounting, bookkeeping, finance, tax preparation, audit & assurance, payroll and demand generation & data services.

He is one of the profession's leading authorities on accounting technology, accounting firm innovation, and client accounting and advisory services (CAS / CAAS) and among the Top 100 Most Influential People in Accounting, the Top 10 Accounting Influencers to Follow on Social Media, and the Top 100 Accounting Social Media Leaderboard.

He is the best-selling author of
“The Definitive Success Guide to Client Accounting Services.”

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and
"Accountaneur: The Entrepreneurial Accountant."

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For over 20 years, he has worked exclusively for the accounting industry, leading several functions, including accounting, payroll, tax, and advisory services and technology solutions used by professional accountants.

He is a regularly published author in many leading publications in the United States accounting profession. Accountants have bought his best-selling books in 12 countries across five continents. He frequently provides fresh thought leadership and actionable insights to the accounting profession about CAS/CAAS, practice growth, entrepreneurship in accounting, and emerging technologies, such as artificial intelligence, machine learning, blockchain, and cybersecurity.

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Patil's newest book is, "Rise of The AiCCOUNTANTS: The What, Why, and How of Artificial Intelligence – Exclusively for Accountants.”
Available here

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