Over-reliance on artificial intelligence carries concerns that cannot be overlooked. Technology can't replace critical thinking and professional skepticism.

KPMG research has found gen AI has a 3-17% EBITDA impact, but this is no reason to replace human accountants.

Developing an AI system can carry a hefty price tag that includes not just the coding of the system itself but secondary costs like labor, training and data fees.

Audit and finance skills are heavily in demand on corporate boards, according to a survey by BDO.

Plus, Deloitte releases four new accelerators on Workiva marketplace; KPMG invests $100 million in Google Cloud Alliance; and other accounting tech news.

As the accounting industry taps into the power of Generative AI, firms need to ensure privacy, transparency and other elements of responsible use.

PricewaterhouseCoopers made a $1.5 million investment to Bryant University to fund the launch of the PwC AI in Accounting Fellowship.

Accounting software development cycles will accelerate with generative AI, but so will competitive pressures.

Plus, TaxBit launches platform for both traditional and digital finance; Mastercard releases business solution platform; and other news.

the accounting solutions provider is expanding to all small businesses after mainly concentrating on the bookkeeping needs of venture backed startups.