Let’s start with this: Artificial intelligence is not replacing accounting and finance professionals. But it is – like with all industries – altering what the professions look like.

“I see first-hand how this shift is playing out across the Australian market,” says Senior Recruitment Consultant, David Wood , a specialist in finance recruitment at Launch. “Employers want the same professionals, but every brief requests a little extra. AI is automating the profession’s most repetitive components and freeing professionals to focus on higher-value work. Employers want to tap into those benefits.”

Automation has been the aim of the game for years now, and AI is powering this at high speed within the finance function. This push for automation has supported finance professionals by streamlining manual tasks like transaction matching, invoice processing, and report generation. It’s been a win for both employees and employers, as tedious tasks are taken away, allowing both parties to focus on the core of their roles.

But naturally, as automation improves and AI supercharges just how efficient it’s become, there are critical questions being asked in boardrooms and finance teams across Australia:

• If much of the work is automated, and collaboration is increasingly remote, do we still need full in-house teams?
• Could we leverage AI or offshoring at a lower cost?

The result is a shift in the balance of power. Employers are rethinking cost structures, while finance professionals are under pressure to add deeper, more strategic value.

A report by Microsoft and the Tech Council of Australia suggests that generative AI could automate over one-third of accounting tasks in Australia (36%) and help shift professionals toward more advisory work, while also contributing up to A$13 billion annually to the professional and financial services sector by 2030.

These kinds of reports sound both encouraging and alarming. If it’s taking over so much, where does that leave those in the industry?

Despite the discussions around greater AI utilisation and the ominous headlines circulating online, this technology is not eliminating the need for accountants. It’s evolving their role and raising the bar.

Yes, AI can reconcile thousands of transactions in seconds. But it can’t build trusted client relationships, exercise ethical judgement, contextualise financial data within a complex business strategy, or explain the real-world impact of a variance on a family’s future or a business’s survival. It can’t mentor a junior analyst, de-escalate a stakeholder’s concerns, or understand the story behind the numbers.

These are the skills that have always and will continue to set professionals apart. And they’re becoming more valuable, not less.

As AI takes care of the routine, the opportunity for finance professionals is to move further up the value chain.

A recent survey found that 72% of professionals believe AI will shift accounting roles from compliance to advisory, with users saving between 46 and 79 minutes per day depending on their AI fluency.

The finance professionals who stand out today, and will lead in the future, are those who pair technical excellence with emotional intelligence; the ability to influence, interpret and lead.

That combination of insight, judgement and leadership is what employers are really looking for. This shift is pushing the profession from a focus on process to a focus on impact.

By automating time-consuming tasks, AI is giving professionals more room to:

• Think strategically
• Interpret data through a commercial lens
• Advise clients and business leaders with confidence
• Craft financial narratives that support growth and transformation.

Rather than losing relevance, finance professionals are gaining capacity. Those willing to grow alongside the technology can open the door to more meaningful, future-focused work.

The Association of Chartered Certified Accountants (ACCA) recently released its AI Monitor report , which outlined four key work trends for accountants:

1. A contraction in routine processing : Automation will be handling high volume transactional work
2. Expansion in strategic and advisory decision making : Professionals will be empowered to shift into more value-driven roles
3. Evolution of mid-level roles : These positions will require more judgment and greater client interaction
4. New responsibilities around governance, controls and compliance: Professionals moving forward will need the AI literacy to verify AI outputs, maintain standards, and ensure ethical implementation.

What This Means for Employers and Professionals

AI is changing the accounting and finance professions. It’s not eliminating roles, but it is becoming a requirement that professionals in this industry know how to optimise and automate using AI tools. If a skilled AI user can save about an hour a day, that candidate has an edge over one who cannot.

If you’re looking for a role or an ambitious person eager to get ahead, there is simply no way around using AI. Not just using it but mastering its use.

For hiring managers, it’s time to look more intently for talent who can combine financial expertise with strategic thinking and adaptability. Roles will become ever more fluid, more analytical, and more human-centric. Hires today need to fit how the business will look tomorrow.

For finance professionals, now’s the time to upskill. A strong foundation in accounting will remain essential, but those who embrace AI tools, data literacy, and change leadership will be those with the edge to thrive in the AI-influenced years ahead.

Helping You Navigate the AI Future of Finance

At Launch Recruitment, we specialise in helping accounting and finance professionals, and the companies that hire them, to stay ahead and adaptable to the changing market.

Whether you’re recruiting future-ready talent or planning your next move, Launch can help you make confident decisions about your future in finance. Contact us today.