AI won’t replace accountants — it’ll make them indispensable

Brian McGlynn is the CEO of Canadian investment portfolio accounting software company Wealth Write.Up.

WITH all the buzz around artificial intelligence transforming industries, it’s fair to ask: “Is accounting going to be obsolete with AI?” The short answer is no. But the role of accountants is already evolving, and that evolution is picking up speed.

Accounting has traditionally lagged behind other sectors in adopting AI — for good reasons, but that’s starting to change. According to the 2025 Generative AI in Professional Services Report, tax, accounting, and audit firms using GenAI technology jumped to 21% in 2025 from only 8% in 2024. And survey respondents said their general sentiment about AI was positive, with 68% of tax firm survey respondents choosing “excited” or “hopeful” when asked about the future of generative AI in their industry.

Concern that AI will replace accounting jobs is valid. The World Economic Forum’s 2025 Future of Jobs Report predicted that accounting, bookkeeping, and payroll clerks would be the seventh fastest declining job in the next five years. They cited AI and autonomous systems as primary drivers for the decline. But AI won’t eliminate the need for accountants. Instead, roles are evolving to enhance their work by automating repetitive tasks, reducing errors, and allowing professionals to focus on more strategic, high-value activities. In fields like wealth management and tax planning, that shift will be significant.

AI is best thought of not as a replacement for accountants but as a platform that strengthens their ability to deliver value. It handles time-consuming tasks such as data migration, data import, spreadsheet clean-up, communication and transaction categorization. These are all important, but they don’t require deep expertise. By letting AI take the lead on these areas, accountants can focus more energy on strategic planning, scenario modeling, and client engagement.

For example, many Canadians are currently re-evaluating their U.S. real estate investments. With the exchange rate, maintenance costs, and political uncertainty, it’s becoming less attractive to hold property in the U.S. But selling isn’t simple. There are complex tax implications that include foreign property rules, capital gains exposure, and the logistics of moving funds back to Canada. This is where AI-enhanced tools can help. By modeling different scenarios, accountants can better advise clients on the best timing and strategy for a sale. AI will act as an enabler for that.

This shift isn’t limited to property sales. Across wealth management, AI is helping accountants offer faster and deeper insights into portfolios, tax events, and succession planning. Today’s tools, such as Wealth Write.Up, can model long-term impacts of investment decisions, track real-time financial changes, and flag patterns or anomalies that may require attention. The result is better service, not just faster work.

As wealth in Canada continues to grow, particularly across generations, more clients are seeking advice through structures like family offices. These high-net-worth individuals, especially younger generations, have high expectations. They want clear answers, intuitive digital tools, and a level of responsiveness that traditional methods struggle to deliver. AI helps meet these expectations by making data more accessible and actionable.

However, the adoption of AI in accounting comes with an important caveat: data sovereignty. Canadian accountants must be confident that their clients’ data remains secure, private, and stored within Canada. AI platforms should respect these boundaries. Data should not be used to train generalized models or flow across borders without clear consent. The infrastructure matters just as much as the software. Tools that prioritize Canadian hosting and compliance with national privacy laws, such as Wealth Write.Up, are best positioned to earn and keep trust.

While AI will bring major efficiencies and capabilities to accounting, it does not diminish the importance of human judgment. Clients still need guidance, context, and relationship-based service. They rely on their accountants not just for tax filings or reconciliations but for strategic thinking, interpretation, and clarity during complex financial decisions. AI can help gather and organize information, but it’s the accountant who brings meaning and insight to the table.

In short, AI will not make accounting obsolete. It will make it smarter, faster, and more valuable. Accountants who embrace the change won’t become redundant. They’ll become more proficient and central to their clients’ success than ever before.

Firms that adapt will thrive. Those who modernize their tech stacks, invest in Canadian-compliant AI platforms, and focus on high-impact client service will lead the way. Because at the end of the day, it’s not about doing less accounting. It’s about doing better accounting.

Brian McGlynn is chief executive officer of Wealth Write.Up.