AI adoption across accounting and bookkeeping firms is accelerating, but not all AI delivers the same results.
Artificial intelligence is becoming part of everyday accounting workflows, but simply adopting AI isn't enough to improve efficiency. Dext's latest Power of Applied AI report explores how firms are using AI in practice, where they're seeing measurable benefits, and the risks of relying on general-purpose AI tools for financial work.
The report highlights that many firms are using AI to automate bookkeeping, streamline workflows and increase advisory capacity. However, it also finds that generic AI tools often create new challenges, including incorrect expense categorisation, VAT or GST errors, payroll inaccuracies and unreliable tax advice. Research cited in the report found that 96% of firms waste time correcting AI mistakes, 81% have experienced higher error rates and 47% have seen financial losses linked to AI use.
Rather than focusing on AI adoption alone, Dext recommends evaluating AI solutions based on data control, accuracy, auditability and how well they integrate into existing accounting workflows. AI delivers the greatest value when it's purpose-built for accounting and supported by appropriate human oversight.
The report offers practical insights into what separates successful AI adoption from costly mistakes, providing firms with a framework for implementing AI confidently and effectively. If you're evaluating AI's role in your practice, this report delivers valuable data and real-world perspectives.
Latest news, events, and updates on all things App related, plus useful advice on App advisory - so you know you are ahead of the game.
Connect with us
