AICPA launches AI training to upskill finance teams

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One of the world’s largest accounting industry groups is answering anxieties that AI will likely wipe out some jobs in many professions with what one of its executives calls “urgent optimism.” 

Tom Hood, EVP of business engagement and growth at the Association of International Certified Professional Accountants and The Chartered Institute of Management Accountants, acknowledged in an interview that some companies deploying AI could eliminate certain jobs on their accounting or finance teams.

“But there are others that we’re working with that are actually saying. ‘I would rather have these people working with all their background learning about AI and automating that accounting to add value to the business,’” Hood told CFO Dive. “AI won’t replace accountants. Accountants with AI will replace accountants.” 

To help finance executives get the AI skills they need to shape the future of accounting, the AICPA is launching a program aimed at giving finance professionals at all levels AI skills for using and embedding AI in their operations. 

The AI Accelerator Skills Program was modeled after a two-day training session last summer attended by about 50 CFOs and senior executives in the AICPA’s Future of Finance Leadership Advisory Group. So far it has been piloted at the Big Four firm KPMG, tech giant Cisco and tool-maker Stanley Black & Decker.   

The program, which can be virtual or live, is offered in three learning “tiers,” which include one that addresses strategies for CFOs and senior leaders, another focused on transitions for finance teams adopting new programs, and an operational level for accountants who will put it to use.

While the program expense varies depending on its configuration, its cost ranges from roughly $495 to $1,000 per person. It can also be taken by workers in a range of specialities and professional levels, including data analysts, financial analysts, FP&A team members, accountants, controllers and CFOs, Hood said. 

Education is important at all levels, Hood said, because AI will alter the entire tech stack used by finance teams. For example, some younger staff members may be assigned with supervising a team of bots, but they need to learn how to query the agents and test and determine whether the information should be passed on to other people in the company. 

“AI is just getting things done faster,” Hood said. “Teaching people how to think differently and apply it and use it to tell more stories about the business is going to really make the difference.”