Research: Accounting Pros Cautiously Optimistic about Generative AI

Expert says we must work together to balance the benefits of technology and unintended consequences.

By Rick Richardson
Technology This Week

Thomson Reuters, a global content and technology company, recently released new research on generative AI that gauged the sentiment of professionals across legal, tax, and accounting firms in the United States, the United Kingdom, and Canada. The research sought to understand better how the technology is perceived and applied within the professional services industry. The report uncovered a mix of optimism and caution in adopting generative AI.

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“Generative AI can disrupt and redefine the professional landscape, but it is clear from our findings that there is a trust gap with professionals,” said Steve Hasker, president and CEO of Thomson Reuters. “The future of professional work is set to be revolutionized by generative AI, and as an industry, we need to work together to find the right balance between the benefits of technology and any unintended consequences. We believe this will help our customers first to trust the transformative power of generative AI and then harness the opportunity to shape the future of their professions.”

Posted on July 26, 2023

Rick Richardson

About the Author

Rick Richardson, CPA.CITP, CGMA, is the CEO and founder of Richardson Media & Technologies and editor and publisher of Technology This Week, regularly featured at CPA Trendlines under special arrangement.

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Technology This Week provides an easy to read digest of the technology that tax and accounting practitioners need to know to better serve their clients. Professionals rely on Richardson to tell them in a timely and informative manner what’s new in technology and how it will impact their business and personal lives. Subscribers also have access to the entire library of prior issues with an easy-to-use search.

With all of the news sources available today, it's next to impossible to keep up with what's new in the world of technology. Technology This Week is a 20-minute read designed for an average reader rather than the technologist. Richardson had a 28-year career in technology with Ernst & Young, the last twelve years of which he served as National Director of Technology. He has been named to the "Technology 100" – the annual honors list of the 100 key achievers in technology in America. He has also been honored by the American Institute of CPAs with two lifetime achievement awards for his contributions to the profession in the field of technology. In 2012, Rick was inducted into the Accounting Hall of Fame by CPA Practice Advisor Magazine. He has also been named to the 100 most influential individuals in the accounting profession in America by Accounting Today magazine. He is a sought-after speaker around the world, providing his annual forecast of future technology trends to thousands of business executives, professionals, community leaders, educators, and students.

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