AI isn’t going to take accountant’s jobs, but it can fill the talent gaps
August 12, 2025
With the accounting industry facing talent shortages, Sunil Padiyar, CTO at Trintech explores the role AI plays in the future to support finance and accounting teams.
While headlines warn us that AI will take our jobs, the accounting industry faces a very different reality: not enough people, not enough time, and not enough expertise. I believe accounting, in particular, has been hit hard by talent issues in recent years.
Last September, ‘Accounting and Finance Technicians’ were identified as one of the 10 most critically in-demand occupations by Skills England. It’s not just the UK that is facing challenges recruiting and retaining talent – at the end of 2022, the Bureau for Labor Statistics in the US said 300,000 accountants and auditors had quit their jobs over a two year period. That equated to a 17% reduction in the profession’s workforce, and it was the largest reduction of professional accountants the U.S. has seen in the last 14 years.
There are many reasons for this shortage. As our workforce ages, new grads are not coming in to take their place as much as we would like. On top of this, many accountants, both experienced and new to the field, choose to leave the profession due to burnout from workload, unsustainable hours or lack of clear career progression.
An ageing workforce, rapid advancements in tech, and shifting job expectations are widening the gap between talent needs and the number of qualified accountants. To bridge that gap, CFOs see AI as the answer – according to Deloitte’s Q1 CFO Signals Survey, 79% of finance chiefs plan to use generative AI in the coming 24 months to address skill gaps.
There is no doubt many accounting teams are already making the most of AI’s capabilities, whether that be through general LLM tools like ChatGPT and Claude, or more niche tools designed with accountants’ needs in mind. The question now is; with no end in sight for the talent shortages, what role does AI play in the future to support these teams?
Today’s AI: Useful, But Underleveraged
The AI tools we have now can automate repetitive tasks across the finance function. These include data entry, report generation, certain auditing processes, and much of the accounting close process. We’re seeing how reducing the reliance on human labour for some basic tasks allows accountants to free up time to focus on the strategic functions of the role and value-add tasks.
Many CFOs are investing in AI to streamline their accounting functions and prepare for the future, but their teams are struggling with burnout from rapid technology changes and high turnover. Additionally, the other members of executive teams are asking CFOs to deliver insights on cost and growth objectives, all while providing data that can tell a story to potential investors.
While it’s tough for teams to keep pace, the initial hype surrounding AI is beginning to die down. AI is crossing the chasm from novelty to necessity and with each passing day, they are getting better at helping accounting teams do their jobs. This also means companies have had time to solidify their expectations around specific AI use cases that can make an impact on their business today.
Even with AI now being commonplace, the actual deployment of AI still creates unique challenges for accounting teams. Implementing AI requires not only clean, accurate, and well-structured data but also a cultural shift. Many accounting teams are unprepared to integrate AI into their workflows, and fears and misconceptions surrounding its capabilities further complicate adoption. AI is not a silver bullet or a magic wand; it’s only as effective as the sources it learns from. If the accounting team is running on ineffective processes or inaccurate data, then AI will merely make the same mistakes, but faster.
Making AI Work for Finance — Not the Other Way Around
While AI’s deployment in accounting and finance may still have some early-stage adoption hurdles, there is no doubt in my mind that its capabilities will only grow to immensely help the profession in the future, relieving some of the pressure created by talent shortages.
A core element to ensuring AI supports finance teams is the relationship between the CTO and CFO. An organisation’s CFO needs to understand why any large tech purchase is worth the money, and this is especially vital in their own teams. I speak with my own CFO every single day – our alignment speaks to the importance of technology in the finance function, and in finance’s role in helping our organisation implement best-in-class technology. When so many tech purchases, like AI tools, require a large financial commitment, it’s important that the CFO can demonstrate impact in the long run.
For many, fostering the CFO and CTO relationship will feel like a cultural shift in how these functions operate together. In order to make the most of what AI has to offer, now and in the future, a cultural shift will be needed at all levels. The skill gaps at more junior levels are felt all the way up to senior finance directors and CFOs. Fostering a cultural shift in how finance teams utilise technology by offering dedicated time to learn and allowing collaboration between technology and finance teams at all levels will enable accounting and finance teams to truly embrace tech advancements.
Another key use case of AI for accounting teams is across the financial close process. AI tools now exist that match, validate and close every reconciliation, every journal, every approval, at the true point of financial accuracy. For accountants, this not only helps save significant amounts of time, but also allows them to move away from chasing data points, into a more strategic role internally.
AI Won’t Replace Accountants. But It Can Reignite the Profession.
In accounting, AI isn’t going to replace our jobs anytime soon – it’s simply going to replace our least favourite parts of the job. Enabling accountants and finance professionals with AI helps them maximise their skills, and has the potential to make the profession more attractive to the next generation as the worst parts of the role become automated. The CFOs who signalled they’d use AI to help fill talent gaps are on the right track; they must now empower their organisations and teams to make the most of AI.
In the end, it’s not just about filling a gap — it’s about reimagining what accounting can be. AI gives us the chance to redesign roles, uplift teams, and finally free our most strategic minds from their most tactical burdens. That’s not a threat to the profession. That’s its revival.
[Accountancy Age]
