Reality Check
The accounting and finance profession stands at a pivotal crossroads. For decades, the field has weathered waves of change—outsourcing, offshoring, regulatory upheavals, and digital transformation. Yet, nothing compares to the seismic shift now underway: the rapid rise of artificial intelligence (AI) and automation. As organizations grapple with a historic shortage of qualified accountants and finance professionals, AI is simultaneously reshaping what it means to work in these roles. What will truly happen to accounting and finance jobs as AI takes over? What stages can we expect over the next 5, 10, and 15 years? And how should companies respond to ensure they not only survive but thrive in this new era?
@mondial
The State of Play in 2025: Intense Demand Meets a Talent Crunch
As of mid-2025, the accounting and finance sector is experiencing a paradox. Demand for skilled professionals in roles such as accountants, auditors, and credit analysts remains at record highs. Unemployment rates for these positions are well below national averages, and companies are struggling to fill open roles. This talent shortage is driven by two major factors: an aging workforce, with many experienced professionals nearing retirement, and a marked decline in the number of students pursuing accounting degrees.
At the same time, AI adoption is accelerating. Over half of accounting firms have implemented some form of AI, primarily to automate routine tasks like data entry, reconciliations, and invoice processing. Investment in AI for accountancy is projected to more than double in the next two years. The result is a profession in flux: while basic, repetitive tasks are increasingly handled by machines, human accountants are shifting toward more strategic, analytical, and advisory functions.
2025–2030: Automation Accelerates, Roles Transform
The next five years will see the most visible impact of AI on the accounting and finance workforce. Routine, repetitive roles—bookkeepers, payroll clerks, and entry-level accounting staff—will be the first to feel the effects of automation. Global employment reports consistently rank these jobs among the fastest-declining occupations. AI-driven systems will handle data entry, reconciliations, compliance checks, and even some aspects of audit and reporting, dramatically increasing efficiency and reducing error rates.
However, this does not mean the end of the accounting profession. Rather, the nature of the work will shift. The remaining professionals will be tasked with higher-value activities: advisory services, strategic planning, advanced data analytics, compliance, and risk management. Accountants will spend less time on manual processing and more on interpreting data, providing insights, and guiding business decisions.
The most sought-after skills will change accordingly. Data analytics, business intelligence, AI tool management, and soft skills such as communication and critical thinking will become essential. Companies will look for professionals who can bridge the gap between technology and business strategy, leveraging AI tools to drive value rather than simply process transactions.
Despite the automation of routine tasks, overall demand for finance professionals may remain high in the short term due to the ongoing shortage of qualified talent and the emergence of new, tech-focused roles.
2030–2035: Full AI Integration and Strategic Focus
By 2035, most transactional and compliance-based accounting functions will be fully automated. AI systems will handle not only data entry and reconciliations but also complex audits, financial forecasting, and regulatory updates. The traditional accountant’s toolkit will be unrecognizable compared to a decade earlier.
In this environment, accountants will evolve into strategic business partners. Their primary role will be to interpret AI-generated data, provide actionable insights, and guide business decisions at the highest levels. The profession will see the emergence of entirely new roles: AI compliance analysts, data governance officers, financial systems architects, and AI ethics specialists within finance departments.
Continuous learning and reskilling will become the norm. The profession will prioritize cognitive, management, and technology skills, with lifelong learning embedded into career paths. The total number of traditional accounting jobs will decline, but the value and compensation of the remaining roles will rise due to their strategic importance and the expertise required.
2035–2040: Autonomous Finance Functions and Innovation
Looking fifteen years ahead, the finance function will be nearly unrecognizable. AI systems will autonomously manage most finance functions—budgeting, forecasting, compliance, and even certain investment decisions—requiring minimal human intervention. The role of the human professional will shift to oversight, ethical decision-making, and handling exceptions or nuanced scenarios that require empathy, creativity, or complex judgment.
Finance professionals will become drivers of innovation, leveraging AI to create new business models, products, and services, and to unlock insights from vast data sets. Teams will be smaller but composed almost entirely of highly skilled, tech-savvy professionals who can manage, interpret, and act on AI-driven insights. The profession will have transitioned from a focus on processing and compliance to one of strategic leadership and innovation.
The Skills Shift: What Will Matter Most
The transformation of the accounting and finance profession will be defined by a dramatic shift in required skills. In the short term, technical proficiency in data analytics and AI tools will be essential. As automation takes over routine tasks, the ability to interpret data, provide strategic advice, and communicate complex insights will become increasingly valuable.
Over the next decade, new roles will emerge that require expertise in AI management, data governance, and ethics. Professionals will need to understand not only how AI systems work but also how to ensure their outputs are accurate, unbiased, and aligned with organizational goals. Soft skills—such as adaptability, critical thinking, and leadership—will be just as important as technical know-how.
By 2040, the most successful finance professionals will be those who can combine deep technical expertise with creativity, ethical judgment, and the ability to drive innovation.
Scenario Matrix: The Evolution of Accounting and Finance Roles
Year | Job Market Status | Role Focus Shift | AI Integration Level | Key Skills Needed |
2025 | Severe talent shortage, high demand | From manual processing to analytics and advisory | Early to mid-stage: automating routine tasks | Data analytics, AI literacy, consulting, soft skills |
2030 | Routine jobs decline, demand for specialists | Advisory, compliance, risk, tech integration | Deeply embedded in workflows | Advanced analytics, AI management, strategic thinking |
2035 | Fewer traditional jobs, higher pay | Strategic business partnership, AI oversight | Core processes fully automated | Data governance, AI ethics, business acumen |
2040 | Lean, expert teams | Innovation, oversight, exception handling | Autonomous finance functions | Continuous learning, creativity, ethical judgment |
A Realistic Short-Term Plan for Companies
The coming transformation presents both risks and opportunities for organizations. Companies that act now to prepare their workforce and reimagine their finance functions will be best positioned to thrive. Here’s a realistic short-term plan for the next five years:
1. Invest in Upskilling and Reskilling
Ongoing training is essential. Companies should provide robust learning opportunities in data analytics, AI tools, programming languages such as Python, and business intelligence platforms. Encouraging employees to pursue certifications in AI, data analytics, and digital finance will help build a future-ready workforce.
2. Redesign Roles and Career Paths
Job descriptions must evolve. Shift focus from manual processing to value-added activities such as advisory, analytics, and strategic planning. Create new roles that focus on managing AI tools, compliance analytics, and data governance. Make career paths more flexible, allowing employees to move into tech-focused or strategic roles as their skills develop.
3. Enhance Talent Attraction and Retention
To attract scarce talent, offer competitive salaries, flexible and hybrid work models, and clear career progression opportunities. Rebrand the profession to appeal to younger, tech-savvy candidates by emphasizing its technological and strategic dimensions. Highlight opportunities for innovation and impact, not just compliance and reporting.
4. Integrate AI Thoughtfully
Begin with pilot projects in low-risk areas—such as invoice automation or predictive analytics—before scaling up. Ensure robust change management and clear communication to ease adoption and minimize resistance. Engage employees in the process, soliciting feedback and involving them in shaping the future of the finance function.
5. Foster a Culture of Continuous Learning
Encourage a growth mindset, adaptability, and digital fluency across the finance team. Regularly review and update training programs to keep pace with technological advancements. Recognize and reward employees who take initiative in learning new skills and driving innovation.
6. Prepare for Workforce Transition
Develop comprehensive transition plans for roles likely to be automated. Offer retraining or redeployment opportunities to affected employees. Collaborate with educational institutions to align curricula with future industry needs, ensuring a steady pipeline of talent equipped for the AI-driven finance landscape.
The Human Factor: Why Accountants Will Still Matter
Despite the rapid advance of AI, the need for human judgment, creativity, and ethical oversight will remain. AI excels at processing vast amounts of data and identifying patterns, but it cannot replace the nuanced understanding that comes from experience, context, and empathy. The most successful organizations will be those that combine the strengths of AI with the unique capabilities of human professionals.
Accountants and finance professionals will increasingly serve as interpreters, advisors, and innovators. They will be responsible for ensuring that AI systems are used ethically and effectively, and for translating AI-generated insights into actionable business strategies. Their role will be less about processing transactions and more about driving value and shaping the future of the organization.
Your next steps...
💡Click here to ensure data residency, compliance and reduce time spent on period-end reporting.
🔋Click here if you wish to solve 25+ Spreadsheet reporting issues without losing the spreadsheets.
🔆 Click here to improve the accuracy and usability of generated financial reports.
💯 Click here to decrease risk by providing on-demand access to the transaction detail behind every reported balance
☎️ Book a free, no-obligation walkthrough with Mondial to see how we can help you in financial reporting and consolidations just like one of our successful clients.
