Press release
Nearly 90% of Accountants Expect Technology to Drive their Firms' Growth in 2023, according to Intuit QuickBooks Survey
Artificial intelligence and automation tools lead the wave for desired technology investments in the industry MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- Today,
About this update from Intuit Inc.
[{"type":"text","content":"\nArtificial intelligence and automation tools lead the wave for desired technology investments in the industry\n\n MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--\nToday, Intuit Inc.(NASDAQ: INTU), the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, unveiled new data that reveals how accountants are embracing the power of technology and artificial intelligence (AI) to help propel their business growth and better serve their clients. The Intuit QuickBooks Accountant Technology Survey, which collected responses from 2,000 accountants in the U.S., also explores how firms are adapting to the decline in the talent pipeline while maintaining a positive outlook on the future of the profession.\n\n\"We know accountants are busier than ever - with 43% reporting they serve more than 40 clients - and increasingly, they're looking to technology to help them be more efficient and better meet client needs,” said Jeremy Sulzmann, Vice President, Intuit QuickBooks Partners Segment. “As our most valued partners, we wanted to dig deeper into what macro trends are impacting accountants so we can continue to focus on further developing the technology they need most to grow their businesses. In 2019, Intuit declared its strategy to become an AI-driven expert platform, and we’ve accelerated AI innovation at scale to deliver personalized experiences to more than 100 million consumer and small business customers.”\n\nAI and Tech Adoption Spurs Firm Growth\n\nAccountants recognize the impact technology can have on the growth of their firms, and as a result are prioritizing tech investments to move their businesses forward. In fact, 86% of respondents agree that technology will play a significant role in the growth and expansion of their practices in the next year. And in 2023, accountants expect to spend an average of $15,800 on technology improvements and upgrades. Nearly half expect to invest in and adopt automation tools (48%), AI (48%), and blockchain technology (47%) to maximize efficiencies.\n\n“AI has powerful potential, and accountants are hungry to capitalize on what it has to offer,” Sulzmann explained. “We see this appetite today with emerging tech, such as generative AI, as accountants look for ways to leverage new technologies that create efficiencies and free up their time to pursue higher-value...