By Eric E. Cohen, CPA

CFOs and controllers are navigating an era of unprecedented technological evolution. Artificial intelligence (AI) – particularly generative AI – offers the potential to transform traditional business processes and is being incorporated at a pace that is difficult to keep up with. At the upcoming PICPA CFOs & Controllers Conference, my session, “AI in Accounting and Finance: Practical Tools for Today, Strategic Insights for Tomorrow,” will explore how generative AI is not only a strategic tool with immediate applications but also a transformative force that must be effectively managed.

Powering Up Finance

AI is no longer confined to research labs; it is a practical tool available to all to enhance efficiency and improve decision-making in finance and accounting. The session I will be leading introduces CFOs and controllers to AI-powered solutions that streamline the financial reporting process, supercharge forecasting, and strengthen compliance management. AI is already embedded in many of the tools financial professionals use daily – often to the dismay of the users – and offers the potential to help organizations gain deeper insights and operate more effectively.

For example, organizations are leveraging tools like OpenAI ChatGPT, Microsoft Copilot, Google Gemini, Anthropic Claude, Meta Meta.ai, and now DeepSeek to reduce the burden of repetitive tasks, enabling finance teams to focus on higher-value strategic initiatives. AI-powered risk-assessment tools are enhancing compliance and regulatory navigation with greater accuracy too. Do you need to quickly analyze a multi-hundred-page release from the Securities and Exchange Commission, Financial Accounting Standards Board, Public Company Accounting Oversight Board, American Institute of CPAs, or the IRS? Generative AI can help by summarizing key points and extracting relevant insights in seconds.

Your Tools, Evolved

Beyond standalone solutions, many familiar platforms are integrating powerful AI-driven enhancements. Microsoft, for example, introduced Microsoft 365 Copilot Chat, a generative AI assistant designed to revolutionize spreadsheets, reports, and email communication. Tax and accounting research tools are leveraging AI to filter complex regulatory and market data, providing relevant and timely information. Accounting software providers are embedding AI to automate reconciliations, detect anomalies, and improve financial forecasting.

Recent advancements in agentic AI – which uses machine learning and large language models to enhance learning and adaptability – are pushing capabilities even further. Tools like ChatGPT Operator, ChatGPT Tasks and Reminders, Claude with Computer Use, and the forthcoming Llama 4.0 give AI a more proactive role, automating multistep tasks autonomously and coordinating across applications, challenging traditional robotic process automation solutions. Meanwhile, reasoning AI – such as ChatGPT o1 and o3, and Deepseek R1 – moves AI beyond basic pattern recognition to provide logical, step-by-step reasoning and problem-solving capabilities. These breakthroughs far surpass the previous generation of AI, which primarily functioned as sophisticated “auto-complete” engines. Reasoning AI signals a new era of AI-driven financial analysis.

My session at the PICPA conference will showcase practical applications of these tools for finance and accounting professionals. Expect live demonstrations and discussions on how AI is being embedded into everyday financial workflows, ensuring seamless adoption with minimal learning curves.

Future-Ready Strategy

As AI revolutionizes accounting finance, a proactive approach is required to stay competitive. Integrating AI into financial workflows is not just about keeping pace with technological advancements, it is about positioning your organization for long-term success.

The session I’m leading will provide practical guidance on how CFOs and controllers can develop an AI adoption strategy tailored to their organizations. I will cover best practices for implementing AI tools, ensuring workforce readiness, and navigating ethical and regulatory considerations. Additionally, we will discuss how to cultivate an AI-driven culture within finance teams, emphasizing continuous learning and adaptability.

By attending this session, you will gain actionable insights into leveraging AI as a valuable partner in financial decision-making, helping you manage change and seize new opportunities.

This is your opportunity to stay ahead of the curve. Whether you’re exploring AI for the first time or looking to refine an existing strategy, the discussion will provide practical takeaways to enhance your practice today while preparing for the future.

Eric E. Cohen, CPA, is owner and chief AI officer of Cohen Computer Consulting in Mechanicsburg, Pa. He can be reached at eric.e.cohen@computercpa.com.

If you are intrigued by the uses of AI in accounting and Eric Cohen’s thoughts on incorporating it into your work, plan to attend the PICPA’s CFOs & Controllers Conference on March 20 and March 27. This two-day program offers a host of leadership tips for CFOs and controllers at all sizes of businesses. View the agenda and register today. 

Sign up for PICPA's weekly professional and technical updates by completing this form.

^{Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of the PICPA's officers or members. The information contained herein does not constitute accounting, legal, or professional advice. For actionable advice, you must engage or consult with a qualified professional.}