How to Learn AI for Accounting and Finance

As some of the hype surrounding artificial intelligence (AI) and its impact on the financial industry begins to wane, leaders are embracing the technology and seeking realistic applications for AI within the field. Nationwide, job postings requiring AI skills have surged, with AI-related job listings growing by 257 percent between 2015 and 2023 [1]. Over the first eight months of 2024 alone, 1.62 percent of all online postings required AI skills, nearly double the share a year earlier [2]. 

The demand for employees familiar with AI has spread into the financial industry. Position vacancies in the field explicitly seek candidates with AI competencies. With 83 percent of hiring managers reporting difficulty finding qualified candidates for accounting roles [3], leaders hope AI can help alleviate the talent gap. Explore how to learn AI for accounting and finance, potentially increasing your marketability.

How to use AI in finance and accounting

As in many industries, the potential for AI in finance and accounting is vast. From enhancing decision-making by identifying patterns, performing predictive analytics, and gaining insights into customer behavior, to delivering cost and time savings by preventing fraud, sourcing new capital, and automating processes, the possibilities of AI in these fields seem almost limitless. Consider some possible uses for AI in the accounting and finance industries.

Examples of artificial intelligence in accounting

AI in accounting can automate repetitive tasks and reduce errors, freeing accountants to focus on higher-level advisory services. The following are just a few examples of how you can use AI to enhance your accounting services:

• Auditing: AI offers a cost-effective way to efficiently identify anomalies while minimizing the risks of over-testing during an audit, to offer a more accurate and complete picture of the company’s finances.

• Automation: From scheduling assistance based on the predicted amount of workflow for a given period to composing emails, processing invoices, account reconciliation, and task monitoring, AI can help improve efficiency.

• Fraud Detection: Accountants and other financial professionals can use AI to perform risk assessments, detect potential threats, and recognize patterns that might indicate fraudulent activity, helping to reduce the threat of accounting and other forms of financial fraud. 

Examples of artificial intelligence in finance

Financial professionals can benefit from AI in areas like personalization, risk management, fraud mitigation, transparency, compliance, and automation. The following represent only a few specific AI use cases in finance:

• Speech recognition: Speech-to-text conversion of customer service calls can provide insights that help you improve customer service experiences.

• Analysis and predictive modeling: Insights gained from AI-enhanced business intelligence solutions can help you accurately predict future outcomes in fraud detection, risk reduction, trading, and customer needs.

• Image recognition: Process claims more quickly using AI to assess and derive insights from images and videos of property damage.

• Recommendations: Personalize product and service recommendations, such as investment advice or banking offers, based on each customer's needs.

How to learn AI for accounting and finance

You can likely find online courses, certificate programs, certifications, and even degree programs to help you incorporate AI into your skill set. Depending on your time and financial commitment, you can also learn about AI for accounting and finance through podcasts, online technology hubs, and various sources of industry-specific literature. As an aspiring or current accountant or financial professional, you have a range of options from universities, industry associations, and private organizations to find a suitable path for learning AI.

AI degrees, certificates, certifications, and concentrations

Universities nationwide are responding to the growing demand for accounting and financial professionals with AI skills by offering degree programs, certificate programs, and concentrations focused on AI in accounting and finance. AI-focused educational options in these fields have become increasingly widespread, with topics ranging from machine learning and AI for business and finance to financial technology (fintech) and its broad set of use cases. 

For example, the University of Pennsylvania offers its four-module course, AI Applications in Marketing and Finance, on Coursera, allowing learners opportunities to gain practical and theoretical experience with AI, advanced analytics, and how it can impact financial data. You can also find foundational options from IBM, like Generative AI: Introduction and Applications and Introduction to Artificial Intelligence (AI), which you can use to become more familiar with the technologies before going into their use within accounting and finance. 

While you can find various certificate programs and courses to increase your understanding and explore skills to learn AI for accounting and finance, certification programs in this area are less common. One AI accounting certification option is the Certification in AI for Accountants (CAIA)from MYCPE ONE, which can help affirm your expertise in areas like practical implementation of technologies like robotic process automation (RPA), ethical technology use, and integrating the Internet of Things (IoT) into accounting.

Artificial intelligence courses for accountants and finance professionals

For a less structured option that requires minimal commitment, consider registering for a course through a professional organization, such as the American Institute of CPAs and Chartered Institute of Management Accountants (AICPA & CIMA). This organization offers ongoing learning opportunities, including options focusing on applying AI in accounting and finance. 

State-specific chapters of professional organizations also offer courses in artificial intelligence for financial professionals and accountants. Some organizations offer these courses continuously, while others make them available periodically and update topics to reflect current trends. 

Depending on the specific offering, you will likely find options online and in-person, synchronous and asynchronous. These courses can help you learn about various topics, including integrating automation into financial planning and the practical applications of AI in accounting.

More resources for how to learn AI for accounting and finance

For a more “do-it-yourself” approach to learning AI for accounting and finance, consider the AICPA & CIMA’s technology hub. It offers resources including podcasts, white papers, guides, professional insights, news, and other tools to help you gain the knowledge necessary to provide the best possible service to your clients. It’s important to note that some resources may require membership to access. 

Additionally, CPA.com features a technology tools and resources hub where you can find materials related to its generative AI initiative, including special reports, toolkits, blogs, videos, and more. You can also check out some podcasts on your own, including options such as AI: Accounting Intelligence, which covers topics from AI ethics in finance to cybersecurity.

Learn AI for accounting and finance to future-proof your career

As you learn AI for accounting and finance, consider focusing on generative AI. This area is yielding significant returns on investment (ROIs), with nearly 90 percent of chief financial officers (CFOs) reporting a very positive ROI in December 2024, up from just 26 percent only 10 months prior [4]. Generative AI creates new opportunities for serving customers and delivering services that extend beyond the basic automation tasks of traditional AI. The tangible returns associated with generative AI suggest that its expanded use and the demand for professionals skilled in it will likely continue to grow.

In addition to understanding which types of AI will best meet your needs and how to implement them, grasping how AI solutions impact the core principles of accounting and finance can help you develop a lasting AI strategy within your organization. Depending on your role and level of responsibility, keep the following guidelines in mind as you explore how to learn AI for accounting and finance:

• Understand the technology’s potential applications and select AI tools that align with your goals.

• Set realistic expectations regarding AI’s capabilities and be prepared for mistakes.

• Start small.

• Assess the types and quality of data you can access for AI use.

• Acknowledge AI’s impact on existing roles and responsibilities, as well as the need for training.

• Maintain awareness of the potential challenges and ethical implications of AI use.

With the right mindset and a set of guidelines to follow, you can effectively learn to use AI in your accounting and finance career, regardless of your current skill level. 

Potential finance and accounting salary and job outlook

Financial analysts, who guide businesses and individuals in making financial decisions, earn a median annual salary of $101,910 and can expect job opportunities to grow by 9 percent through 2033 [5]. Accountants earn a median yearly salary of $81,680 and a faster-than-average job growth rate of 6 percent through 2033 [6]. 

Certification in a specific field of accounting further enhances job prospects for accountants. Based on the skills gap in accounting and financial professionals with AI skills, learning AI for accounting and finance may increase your chances of securing a position and earning a higher salary.

Learn more about AI for accounting and finance on Coursera

Learning AI for accounting and finance through a degree or certificate program, standalone courses, or online resources can increase your marketability in the field and help you acquire skills to improve your job performance. 

In the Generative AI for Everyone course from DeepLearning.AI on Coursera, you can explore what generative AI is, how it works, and the potential opportunities and risks that generative AI technologies present to individuals, businesses, and society. You can also sign up for Coursera Plus to access over 10,000 courses and programs, including many on AI, accounting, finance, and more. 

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