A year after generative AI tools like ChatGPT, Copilot, Claude, and Gemini became household names, we are beginning to understand how profoundly these systems are reshaping accounting and business practices. While early uses focused on experimentation and novelty, 2025 has seen a shift: businesses and professionals now deploy generative AI with purpose and precision, from finance departments to boardrooms.
Drawing inspiration from Marc Zao-Sanders’ influential article on generative AI in the workplace [READ IT HERE], this piece unpacks the key ways people are leveraging AI in accounting and business, not hypothetically, but practically and strategically.
The big idea: augmentation, not replacement
Generative AI is not replacing accountants or managers. Instead, it is augmenting their capacity. The dominant trend across business functions is the use of AI to streamline routine tasks, enhance decision-making, and improve communication. In accounting specifically, AI is transforming audit planning, risk detection, and reporting. A CFO of a mid-sized logistics firm recently remarked, “We no longer ask whether AI can do the work, we ask how it can help us do it faster and better.”
Store: Where AI lives in the accounting workflow
In modern accounting workflows, generative AI is being embedded directly into enterprise software. Microsoft Copilot, integrated into Excel and Dynamics 365, is a staple for automating monthly reports, reconciling data, and generating real-time dashboards. Accounting teams use AI for:
- Automated Journal Entry Suggestions: Based on historical entries and invoice metadata.
- Narrative Reporting: AI drafts management commentary, financial highlights, and variance explanations.
- Audit Trail Review: Large volumes of transactions are scanned by AI to identify anomalies or patterns indicative of fraud or error.
For small businesses, platforms like QuickBooks and Xero have added AI assistants that help owners understand cash flow trends, prepare BAS (Business Activity Statements), and even draft responses to customer invoice queries.
Data & visuals: A new language of insight
Accountants have traditionally been guardians of financial truth. But now, they are becoming data storytellers. AI tools are empowering them to turn raw numbers into compelling narratives and visuals.Consider the following:
- AI-generated visual summaries allow CFOs to present profit drivers, cost centres, or ESG data to boards without needing data scientists.
- Natural language queries enable users to “ask” spreadsheets questions like, “Why did travel costs spike in the second quarter (Q2)?”, and receive chart-supported answers.
Tools like Tableau, Power BI, and Looker now support AI-driven visualisation suggestions, enabling even non-technical users to spot trends quickly. This has enhanced transparency and increased the speed of decision-making at every level of business.
Image supplied by DC Studio