AI in Accounting: Where We Are and Where We’re Headed

Artificial intelligence (AI) is transforming the world and the accounting profession. This week at Gusto Showcase, I attended a panel on AI moderated by Bridgette Haymaker (Gusto), featuring Echo Zhong (Zhong & Sanchez), Yoseph West (Relay), and Blake Oliver (Earmark). Each of them is actively applying AI in their lives and businesses, sharing both where we are today and how they believe the profession will evolve.

When asked to describe accounting’s current relationship with AI in one word, their responses captured the tension perfectly: Beginning. Underutilized. Revolutionary.

Early Days, Uneven Progress

Blake noted that 25 to 50 percent of firms (less than half) have implemented some form of AI. While that is a significant percentage, the reality is that we are still in the early stages. Compared to other industries, accounting is ahead of some and far behind others, but adoption remains uneven and often superficial.

Being “AI native” is not about plugging in a tool and calling it done. As Echo explained, it is a mindset: asking which tasks can be automated rather than hiring more people, consulting with vendors, and even considering engineering talent as firms scale.

In this early evolution, people need to think of AI as more than just a tool. It can become an extension of our service offering. My own experience is that we are still treating it as an assistant, not yet as an integrated partner that helps us share value more efficiently and consistently.

Small Businesses and Practical Wins

For small businesses, Yoseph cautioned against the hype. They do not need perfect solutions; they need directionally correct answers they can understand and act on. The most significant opportunities today are in sales and marketing, where AI can help create and distribute content quickly. It is a simple entry point that builds competency.

What resonated most for me was the point both Blake and Echo raised: AI enables us to analyze data faster, freeing up time for real conversations and insights. Accounting has always been a tool to help businesses understand their financial history. AI packages that data better, so accountants can spend more time guiding clients and applying expertise. It is a cheat code to real conversations (counterintuitive?).

Balancing Opportunity and Risk

The opportunities are clear: faster data extraction, improved workflows, and quicker insights. But risks remain:

• Over-reliance on “agent” tools without proper controls
• Losing the human perspective that connects numbers to client goals
• Compliance and banking-specific risks

As Yoseph put it: “AI is a good first draft. It is not a substitute for your own thinking.”

That sentiment struck me. The challenge for all of us is using AI in a way that sharpens rather than dulls our edge, creativity, and judgment.

At the beginning of the year, I might have handed my notes to ChatGPT and let it draft an article for me which I would have posted here without much thought. Now, I use it differently: I add my notes. Then I build a draft, layer in my thoughts, and then rework it from my own perspective. Stepping away from the tool that did the drafting until I am happy with it, and I can then ask it again to be critical and suggest some corrections. It is slower, but it is real. I now have an editor for a very small price. This change is worth it. It adds insight, personality, and ownership.

Future Proofing the Firm

The panelists agreed: start small. Utilize AI for administrative tasks, note-taking, or cash flow management, and then scale accordingly.

Cultural change is key:

• Blake argued that prompt writing is the new delegation skill and should become a core competency, even a barrier to leadership
• Yoseph encouraged firms to break down fear by building training agents where teams can learn together
• Echo emphasized the importance of modern accountant communities, sharing insights as they go

The truth is in all of these perspectives. Firms need to embed AI skills into their culture: provide tools, training, and safe spaces for experimentation. AI is coming fast, and it is up to leadership to give people room to thrive with it.

This will feel like a risk, but group thought will have a bigger impact than trying to control everything yourself.

Personal Reflections: Still Early in the Journey

Listening to the discussion, I realized I am still a beginner myself. I use AI daily, and it makes my life easier, but my usage is basic compared to the possibilities that exist.

Within my team, I see a spectrum: some are curious and experimenting, others are curious but hesitant, and some are simply scared. Their fears are valid, from job security to data risks. This is a significant change, and big changes are always intimidating.

We have taken steps forward: launching an AI Think Tank, hosting AI Thursdays, and giving people space to experiment. Still, we have a long way to go. Many of our partners are also just dabbling without meaningful results.

It is becoming clear that we need to step back and ask:

• What do we want to achieve with AI?
• Where will it make the biggest impact?
• How do we balance innovation with the pace our people are comfortable with?

Rethinking Our Businesses

AI is not just about tools; it is about transformation. It forces us to rethink how we run our businesses, what value we deliver, and how we empower our people.

As Blake reminded us, AI is not going to kill accounting jobs, but it will change them. Consulting, human insight, and face time are the future. The challenge is embracing this evolution thoughtfully so both firms and people advance alongside the technology.

We are all on this journey together. Play, experiment, and share. Talk to colleagues and peers. Do not be afraid to fail. That is where the best learning happens.

This was not a “fancy AI session,” but it was thought-provoking. It made me reflect deeply, and it shifted my direction.

AI is here. The time to embrace it is now.