Human + AI in Accounting: Early Evidence from the Field

This paper provides early evidence on the integration and impact of Generative Artificial Intelligence (AI) in accounting at the accountant and task levels. Using a multi-method approach, we first identify heterogeneous adoption patterns, perceived benefits, and key concerns through panel survey data from 277 accountants. We then formalize these survey-based insights using a stylized theoretical model to generate corroborating predictions. Finally, partnering with a technology firm that provides AI-based accounting software, we analyze unique field data from 79 small-and mid-sized firms, covering hundreds of thousands of transactions. We document significant productivity gains among AI adopters, including a 55% increase in weekly client support and a reallocation of approximately 8.5% of accountant time from routine data entry toward high-value tasks such as business communication and quality assurance. AI usage further corresponds to improved financial reporting quality, evidenced by a 12% increase in general ledger granularity and a 7.5-day reduction in monthly close time. We also find complementarities between AI and accountant expertise: experienced professionals selectively leverage AI automation and expertise increases intervention when AI confidence scores signal uncertainty. Preliminary analysis from a supplementary pilot framed field experiment sheds light on the potential impact of AI errors. Overall, our findings highlight AI’s role in potentially augmenting, rather than replacing, professional accounting expertise.