Research: AI's Impact on Accountancy Practices Is Modest

A new AccountingWEB research report, produced in association with Sage, indicates that only 7% of accountants and bookkeepers perceive a "transformational impact" from AI. A further 53% report only "minimal or moderate benefits."

The primary benefit consistently reported is time saved on manual tasks, with approximately 42% of respondents citing this. Other advantages, such as faster completion of complex tasks or deeper data insights, were reported by less than a third of those surveyed.

The most significant challenges hindering AI implementation in the profession are data security concerns (62%) and a lack of skilled personnel (48%). The research also highlights that two-thirds of firms believe their core accounting software already includes AI, suggesting many may be underutilizing existing capabilities.

The findings suggest a more cautious approach to AI adoption in accountancy. The report advises firms to critically evaluate AI tools, starting with features already available in their current software, and to set realistic expectations for tangible benefits, primarily focusing on efficiency gains.