The Growth of AI in Corporate Financial Processes and its Implications for Accounting Firms

Firms may need to incorporate new technologies into their engagements.

Synopsis

Corporations are increasingly relying on AI in their financial processes, according to recent research from global market intelligence firm IDC. Ninety-six percent of the organizations surveyed in the 2024 IDC Office of the CFO Survey, said they use, or plan to use, AI in their financial processes. There are a number of reasons organizations are turning to AI including time savings, increasing productivity and cost savings.

This growing use of AI in corporations has implications for accounting firms. As clients become more comfortable using AI within their own organizations it will change how firms conduct their audits and the technologies they use in the audit process. To find out more about how corporations are using AI, the areas within their organizations where they’re deploying it and more, download the IDC infographic.

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