Future-proofing accountants in an AI-driven world

ARTIFICIAL intelligence (AI) is rapidly transforming the global business landscape, and accounting is no exception. While automation has already streamlined many repetitive processes, industry leaders stress that AI’s rise is not a threat to accountants, but rather a turning point that will redefine the profession. The accountants of tomorrow will need to combine technical expertise with data fluency, ethical oversight, and strategic insight to remain indispensable.

In Singapore, policymakers have highlighted AI as a national priority. At the National Day Rally this year, Prime Minister Lawrence Wong highlighted how the government will equip enterprises to harness AI to sharpen their competitive edge. Accountants, often seen as the custodians of financial integrity, are positioned to be among the first to feel these shifts.

Greg Unsworth, digital business and risk services leader at PwC Singapore, said the profession is moving quickly to test, embed, and scale AI responsibly. PwC has positioned itself as “Client Zero,” trialling innovations internally before rolling them out to clients.

Its AI Hub, launched with support from the Singapore Economic Development Board, is already delivering solutions such as an automated shipping workflow that cuts document processing times by up to 90 per cent.

“The accountants of the future will be characterised not only by technical excellence but also by their ability to responsibly harness AI to deliver deeper insights and sustained value,” said Unsworth.

He added that professionals will also need to continue developing human-oriented skills such as empathy, creativity, and leadership to deliver the best outcomes for their organisations.

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Lifting productivity and insight

At accounting firm EY, investment in AI has been underway for more than a decade. In 2021, the firm announced a US$10 billion plan to strengthen audit quality through technology and innovation, with more than US$1.4 billion channelled into EY.ai, its global AI platform.

EY’s Singapore head of assurance Lee Wei Hock explained that AI tools have already reduced the burden of mundane work such as reconciliations and document reviews, freeing teams to focus on more complex analysis. He sees a future where the role of accountants expands beyond financial reporting into helping businesses connect the dots from past performance to future strategy.

“The role of an accounting and finance professional may evolve to become that of a storyteller, of both the past and into the future of business,” he said.

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This shift, Lee added, demands a workforce fluent not only in AI and data but also in business fundamentals. Upskilling through professional bodies, firms, and universities will be key to ensuring accountants can keep pace as AI evolves from predictive to generative to agentic.

Augmenting human expertise

For IBM, the adoption of AI in finance and operations is already well advanced. More than 70 per cent of its enterprise processes are embedded with AI, supported by a growing suite of automation tools. Naomi Hill, vice-president, finance and operations, CFO APAC and Japan, said this has improved decision-making, reduced complexity, and sharpened forecasting accuracy.

She expects the continued evolution of AI to give rise to new roles in accounting and finance, with professionals increasingly needing capabilities in client relationship management, strategic decision-making, and AI-driven financial analysis.

“At IBM, we anticipate finance professionals evolving into digital navigators – leveraging AI to deliver insights, ensure compliance, and drive sustainable value,” said Hill. The company is investing heavily in AI education and ethics to ensure its workforce is equipped to operate confidently and responsibly in this changing environment.

Rethinking education and skills

Educators are also rethinking how to prepare the next generation of accountants. Susan See Tho, associate professor and vice-dean (undergraduate studies) at NUS Business School, said that AI’s ubiquity in business is making operations and relationships more complex.

Accountants will need to develop sharper critical thinking, scepticism, and communication skills to navigate these challenges. “AI does not replace the accountancy profession, but reshapes the professional field of accountancy as it does the same to many other professional disciplines,” she said.

Her priority as an educator is to embed these capabilities into all course designs, so that students are equipped for both the current and future workplace. This includes training accountants to apply AI responsibly and ethically.

Opportunities in the decade ahead

As AI continues its advance, new roles are emerging in the profession. Industry leaders foresee demand for accounting automation specialists, AI ethics and governance experts, and tech-aware accountants who can bridge finance with data science. Strategic advisers will also be sought after to interpret AI-driven insights and advise business leaders.

Yet amid this change, some fundamentals remain constant. Human judgment, ethical oversight, and the ability to build trust will continue to anchor the profession. Technology may automate reconciliations and reporting, but it cannot replace the nuanced decision-making that comes from understanding context, engaging stakeholders, and advising on long-term strategy.

For accountants willing to embrace new skills, adapt to emerging technologies, and bring human insight to increasingly data-driven environments, the future is not one of reduced relevance, but greater impact.

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