Stephen Edginton, Chief Product and Technology Officer (CPTO), Dext
In 2025, AI is no longer just a buzzword. Across every industry sector, embracing AI tools is now a strategic advantage and operational necessity.
So it’s reassuring to see the Government is putting AI at the core of its economic strategy, with an aim to make the UK a global AI powerhouse. As outlined in its AI Opportunities Action Plan, this involves major investment designed to encourage and spur adoption of the technology across the public and private sectors in order to drive productivity, efficiency and new opportunities for growth.
Businesses need to follow the Government’s lead and urgently embrace AI. It’s no longer a futuristic concept but a crucial tool for today, and those who delay risk being left behind. And a great starting point would be to integrate AI to streamline and automate the workflows of the most fundamental function of every business – finance.
Leveraging technology for business workflow
Embracing digital AI tools is not just about saving businesses valuable time and money spent on tasks such as planning for upcoming tax obligations or expense management; it’s about reducing errors, improving accuracy and, most importantly, allowing finance teams to focus less on manual tasks and more on giving valuable advice that enhances business decision-making.
This advisory shift is where the real power of AI in accounting lies. Reducing admin workload and streamlining day-to-day tasks through automation means finance teams have more time to focus on higher-value advisory work, providing smarter insights and strategic business guidance.
Organisations can now receive real-time recommendations, such as when to consider switching or negotiating with suppliers, how to manage their cash flow more effectively, or whether to invest in growth. These insights were previously difficult to access, especially for SMBs, often requiring significant time and financial investment in dedicated analytical resources. However, this is now possible thanks to AI, enabling any enterprise to gain a competitive edge.
The gap between businesses adopting AI is widening
While many businesses have been quick and open to adopting AI, others are still lagging dangerously behind. Not long ago, the forward-thinking businesses were those moving from paper ledgers to spreadsheets – but the divide now lies between businesses using outdated desktop accounting software and those leveraging modern AI native platforms that are smarter, faster and more cost-efficient.
AI native software can not only handle tasks that once took hours in mere minutes, but these systems will continue to learn and improve over time, becoming more valuable with use. In contrast, firms that choose to cling onto legacy systems face rising inefficiencies, greater risk of manual error, and a heavier administrative burden.
That being said, adopting the technology is just one step on the ladder. It’s vital that businesses also stay up-to-date on using the new features and capabilities vendors add if they want to thrive in the faster-moving digital world.
Businesses are only going to get faster
Today, the most successful businesses are those that have raised the bar when it comes to speed, responsiveness and customer service. Global giants like Amazon and Uber are just two examples of this, putting everyone else under pressure to match their pace, stay relevant and competitive.
This is where AI can help bridge the gap. Businesses need technology that allows them to respond and act quickly, as delays caused by manual processes – such as issuing quotes, managing payroll or chasing invoices – often cost companies valuable time, money and opportunities.
In fact, Dext’s research into expense management practices found that UK SMBs are losing an average of £742 every month from incorrect invoicing and poorly-managed expenses, with two-thirds (68.6%) of business leaders saying expense mis-management has a detrimental impact on their growth initiatives.
Therefore, adopting AI isn’t just about speed and efficiency – it’s about fuelling sustainable business growth. By freeing up internal resources, organisations can redirect their efforts towards valued customer service, strategic planning and future innovation.
Adoption should be strategic by balancing automation with human expertise and judgement, which is irreplaceable in client communication and financial planning. With AI, the role of accountants moves more towards assurance and verification rather than data entry and analysis. While AI is responsible for the heavy lifting in mundane tasks, accountants still have the duty of asking the right questions, validating and refining any insights before delivering strategic value to clients – elevating their role as trusted advisors at the heart of impactful decision-making.
Despite the benefits, some businesses are still resistant to change – but this hesitation comes at a cost. AI adoption is accelerating across all industries, from the private to public sector, and firms that fail to embrace the technology will fall behind – and fast.
In today’s digital economy, agility and speed are the keys to success. From saving time and money to unlocking real-time insights and making better decisions, the case for AI in business is undeniable. The future isn’t waiting, and businesses shouldn’t either. AI applied correctly saves time, that time can be used to leverage AI to adapt further – a flywheel of success.
