As AI does more of the routine work of accounting and finance functions, this is a strategic opportunity to develop the trusted business leadership of professional accountants, and from the start of their careers, writes Professor Michelle Carr of UCC.
In the ongoing conversations around artificial intelligence (AI), few topics are as paradoxical as the role of AI in accounting and finance. Despite being one of the most vital functions in any organisation, finance is often seen as particularly vulnerable to disruption by AI. This narrative persists, even as CEOs and boards continue to elevate their expectations for the finance function.
Today’s organisations are demanding much more from their finance teams than just periodic reporting. They look to finance to provide forward-looking insights, scenario modelling, risk intelligence, and a clear view of organisational resilience. The growing importance of sustainability reporting, geopolitical volatility, and the need for real-time decision-making only reinforce the strategic significance of high-quality financial leadership.
However, a structural tension exists. Many finance teams remain tied to the operational workload that has historically defined the accountancy profession: reconciliations, compliance cycles, manual data preparation, and regulatory documentation. While essential, these activities consume valuable capacity that could otherwise be directed toward strategic analysis and value creation.
This tension is something I have experienced firsthand. While teaching a group of Chartered Accountants Ireland students preparing for their FAE exams – bright and dedicated future professionals – we were working through models on international pricing decisions, part of the Advanced Performance Management course. In the middle of the session, one student trainee asked me: “Will I ever actually get to use these things? My work is nothing like this.”
His question was heartfelt, and it struck a chord. I realised that we train some of the brightest and best for years, yet so often, at least in the initial years of their careers, they are channelled into working at repetitive tasks that fail to utilise their full potential. Surely, there must be a better way.
And there is.
AI represents that opportunity. Rather than displacing or replacing accounting and finance professionals, AI has the potential to unlock the strategic contributions organisations have long sought from them. Intelligent automation can streamline routine processes, real-time analytics can uncover emerging risks and opportunities, and AI-powered financial systems can significantly accelerate decision-making cycles.
The result is not a diminished finance function, but a more trusted and elevated one.
When AI handles mechanical tasks, finance professionals can focus on work that truly drives organisational value:
- guiding strategic decisions with trusted insights;
- improving capital allocation and financial stewardship;
- strengthening risk management and organisational resilience;
- ensuring ESG integrity and long-term sustainability;
- advising on value creation through responsible leadership;
- connecting operations, sustainability, and financial impact.
These capabilities are at the heart of organisational competitiveness and rely on human reasoning, ethical judgement, and contextual understanding – qualities that cannot be automated. It is these qualities that build trust, trust that accounting professionals will not only safeguard financial integrity but will also lead organisations towards their strategic goals with foresight, responsibility, and a focus on long-term value.
For leaders, the message is clear: AI is not a cost-cutting tool, it is a capability-building tool. When implemented thoughtfully, AI enables finance teams to deliver the trusted insight, foresight, and governance that modern organisations require.
The future of accounting should not be viewed through the lens of workforce reduction, but as an opportunity for strategic enablement and trusted leadership. AI equips accounting and finance professionals with the tools and bandwidth to step into more influential roles, which align with the priorities of executives and boards and uphold the core values of trust and integrity.
At University College Cork, akin to Chartered Accountants Ireland, we view AI not as a threat to the accountancy profession, but as a powerful catalyst for its evolution. The redesign of our BSc Accounting programme and the accounting and finance modules across the business school reflect a deliberate shift away from training students for routine compliance work and towards preparing them for strategic, judgement-intensive roles in AI-enabled finance functions.
When This shift is delivered through four interconnected initiatives:
- Preserving technical excellence while reducing the dominance of mechanistic content increasingly handled by technology.
- Cultivating a broader perspective and adaptability by exposing students to different institutional, regulatory, and cultural contexts.
- Embedding AI, digital technologies, and sustainability as foundational elements of modern financial judgement.
- Fostering integrative, ethical, and strategic thinking through modules focused on ambiguity, trade-offs, and long-term value creation.
As machines take on and cover off more of the work of calculation and reporting, accounting education and professional development must focus on human insight, responsibility, and strategic judgement. This is an opportunity to recognise AI not as a threat to the accountancy profession, but as a catalyst for its renewal and ongoing relevance, built on a foundation of trusted business leadership.
Dr Michelle Carr is Professor of Accounting, and Head of the Department of Accounting and Finance at Cork University Business School, University College Cork
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