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Death, Taxes, and AI
Article

Death, Taxes, and AI

How Generative AI Will Change Accounting

a16z, 2024

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The field of accountancy in the United States is evolving. Facing declining numbers of practitioners as its current generation of professionals begins to retire, the industry is ripe for change. Enter artificial intelligence, which can execute many accounting tasks, particularly the more mundane. But fintech experts Marc Andrusko and Seema Amble advise that AI cannot — nor should it — replace human judgment. Professional development will remain critical, even as accountancy stands on the cusp of a generational shift. Accounting professionals will find this a useful take on the future of the sector.

Take-Aways

  • The next decade will witness a sea change in accounting.
  • Artificial intelligence has the potential to streamline many accounting functions.
  • Certain aspects of accounting, however, may not prove compatible with AI.

About the Authors

Marc Andrusko and Seema Amble are partners at Andreesen Horowitz focusing on financial technology solutions.