New research says while it is currently valued at nearly $1 billion, it’s anticipated to grown more than 48.4% from 2021 to 2027.
A report released in September 2021 by MarketWatch.com states artificial intelligence in accounting is set to skyrocket by nearly 50% in the next six years. “The ability of artificial intelligence (AI) to adapt and learn has propelled it to the forefront of technology today,” the report states. “AI is much more effective for data-driven companies such as accounting and finance because it not only acts without needing human intervention, but also extracts accurate results from a large amount of data.”
To help accountants leverage technology to capitalize on these innovations, the Center for Accounting Transformation will host How to Modernize Your Accounting Tech Stack with Mature Innovations.
Attendees will identify opportunities to leverage technology to automate the accounting process, learn how to classify information needs that drive decision making, and understand how to create a more sustainable organization by shifting to a strategy-driven view of products and services. Additionally, accountants can learn to revamp service offerings to increase profitability, reduce cost and optimize staff workload.
The online workshop will be presented by tech and accounting pro Donny Shimamoto, CPA, CITP, CGMA. The founder and managing director of IntrapriseTechKnowlogies, Shimamoto also serves as a business transformation advisor and outsourced IT partner for firms, finance departments, and internal audit departments. He’s been recognized by CPA Practice Advisor, Accounting Today and CPA Technology Advisor.
The Center for Accounting Transformation provides professionals with a framework for utilizing innovations that are ready for adoption, the training and resources necessary to apply the innovations, and an opportunity to engage the talent and community needed to further the pursuit of innovative accounting practices that drive responsible and mindful business performance.