The Reality Behind AI In Accounting
Artificial intelligence is often pitched as the solution to the industry’s talent challenges and productivity gaps, but is it really delivering? A new study at MIT Sloan and Stanford Graduate School of Business digs into how AI is shaping accounting workflows, efficiency, and reporting.
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How AI is Increasing Productivity in Accounting
Artificial intelligence continues to make headlines in the accounting industry, often framed as a solution to talent shortages and productivity challenges. A new research paper from MIT Sloan and Stanford Graduate School of Business offers evidence that some of those promises may be taking shape.
In partnership with an AI-based accounting software and a San Francisco accounting firm, researchers examined hundreds of thousands of transactions across 79 small and medium-sized companies and surveyed 277 accountants on AI adoption.
Here’s what they found:
- Accountants using generative AI managed 55% more clients per week.
- They redirected 8.5% of their time from routine tasks to higher-level work.
- The month-end close was completed 7.5 days faster, freeing up to 3.5 hours of routine work per 40-hour week.
Researchers also noted improvements in reporting. Accountants using AI produced 12% more detailed reports, reflecting greater general ledger granularity. These outcomes point to AI’s role in enhancing timeliness and precision by automating data processing and anomaly detection.
However, the paper emphasized that AI is most effective when paired with strong human oversight. High-quality input data, proactive error management, and professional judgment remain essential.
The conclusion: AI isn’t replacing accountants but serving as a powerful collaborative tool to boost efficiency and reporting accuracy.
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