The majority of accountants are not using AI and a significant portion have no plans to do so, according to a poll from accounting-centered cloud services provider Rightworks.
Specifically, the poll found that 73% of accountants are not currently using AI in any way and 35% said they had no plans to use AI in the future. Within this group, the most commonly cited reason provided in open-ended questions was an admitted lack of understanding about the technology and how it could benefit their business. The survey found only a minority, 4%, claim they are very knowledgeable about AI and its uses. Those who were "moderately knowledgeable" made up 27%, those who were "slightly knowledgeable" comprised 49%, and those who said they were "not at all knowledgeable" were 20%.
Incidentally, 4% — the proportion of those who said they were very knowledgeable about AI — was also the figure for those who actively use AI in multiple areas.
Beyond lack of knowledge, respondents also cited concerns about accuracy and security. The poll found 58% saying their biggest concern with AI was inaccurate information, which has proven to be an issue over the past year with certain solutions, and 55% cited data privacy as their main concern. Meanwhile, 14% said AI was too hard to use, and only 7% of the respondents had no concerns at all. Some stated they are taking a "wait and see" attitude to AI adoption
As one might imagine, the more someone knows about AI, the more likely they are to think it will bring positive benefits. Rightworks found 53% of accountants who are very or moderately knowledgeable expect savings on staffing versus 35% of those who are less knowledgeable; similarly, 70% of the first group said it would improve service versus 48% of the other.
Small firms are less likely to intend to use AI than medium and large firms, according to Rightworks CEO Joel Hughes. He noted that 58% of small firms intend to use AI, compared to 68% of midsized firms and 74% of large firms.
Cloud coverage
The survey also found that few firms deal with clients who have extensive cloud computing infrastructure, as only 22% of firms reported a high percentage (75% or more) of clients using the cloud, which limits collaboration possibilities.
Many firms struggle to implement new technology like AI. When asked to identify which description best matched their firm, about 60% of the survey respondents indicated they have somewhat disconnected software systems, inconsistent processes and the absence of standardized workflows leveraging digital documents. A broader lack of commitment to cloud-based environments and connected technologies was further evident, with 43% of the respondents reporting that less than 75% of their apps and data have migrated to the cloud.
The report noted that a third of those who hesitate to migrate to the cloud cite security concerns as the main reason. Paradoxically, the majority of firms that have moved more than half their data and apps to the cloud said security was one of the top benefits. "This means that despite reported evidence of benefits and positive impact, a large segment of the profession is not migrating based on pre-existing security concerns," said the report. "The irony of these concerns seems to confirm the overall lack of education about technology and its benefits."
