The AI Evolution: How our professionals are adapting to support clients in this fast-changing industry

June 30th, 2025

The rise of Generative AI has brought about immense change that is not limited to technology. With such rapid transformation in an unfamiliar landscape, CPAs are required to be diligent, proactive, and thoughtful to ensure long-term success. In this article, the impacts of AI on finance and tax are explored, with summary points below.

  1. Generative AI is rapidly transforming the accounting profession, with widespread adoption among major companies—92% of Fortune 500 firms were using ChatGPT as of August 2024 (likely more as of today). There is an urgent need for CPAs to understand and adapt to this technology.
  2. Organizations must implement clear policies and risk mitigation strategies—including ethical guidelines, legal compliance, and human oversight—to ensure responsible and secure use of generative AI in accounting practices.

Read the full article in PICPA Spring 2025.

This article was co-authored by John Peatross, Senior Manager in the Financial Advisory Services group at Siegfried Advisory. You can contact John directly at [email protected].

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