Indian accountants worried about AI, tech changes, says ACCA survey

A recent survey conducted by the Association of Chartered Certified Accountants (ACCA) reveals that over 50% of Indian accountants are concerned about keeping pace with the swift advancements in technology and artificial intelligence. The survey highlights a growing apprehension within the accounting community about their ability to acquire the necessary skills to remain relevant in an evolving industry landscape. As technology continues to reshape traditional roles, the pressure is mounting on professionals to adapt swiftly. The findings indicate that the fear of falling behind is not unfounded, as the accounting sector in India increasingly integrates AI and other advanced technologies into its operations. These innovations promise greater efficiency and accuracy but also demand a new set of competencies from accountants. The ACCA survey underscores the urgency for continuous learning and upskilling to meet the demands of a future-ready workforce, emphasizing the need for educational institutions and professional bodies to support this transition. In response to these challenges, industry leaders are advocating for a proactive approach to skill development. They suggest that accountants embrace lifelong learning and seek opportunities to enhance their technical proficiency. By fostering a culture of adaptability and innovation, the accounting profession in India can not only mitigate the risks posed by technological disruptions but also leverage these changes to drive growth and competitiveness.

— Authored by Next24 Live