The engine of change in accountancy is not what you think. As we head into 2024, everyone is talking about AI, other technologies and automation. It’s important to be aware of those trends - but what accountants really need to know is the implications these things have for day-to-day work and for the profession as a whole.
Technological developments are attention-grabbing, and it makes sense that people are focused on them. The evolution of generative AI alone in the last year is tremendous, enabling innovation that would have seemed like science fiction only a few years ago. Accounting is no exception to the influence of this trend; according to Markets and Markets research, AI in accounting market size is expected to reach $4.791 billion, growing at a CAGR of 48.4% in 2024.
What matters in practice, however, is the real implications for actual accountants and what these say about the direction of accountancy more generally. We’ve narrowed this down to the 7 trends that will define 2024 in accounting.
Click here to download the infographic.
Connect with Aiwyn today to speak to an expert!