By John Phillips, EMEA General Manager at FloQast
The accounting profession as we know it is changing, with advances in automation now rapidly being supercharged by AI. Enter AI Agents: digital tools designed not just to automate, but to take efficiencies in finance teams to the next level.
The momentum behind this change is growing fast. The global market for AI in accounting is projected to reach £5.21 billion in 2025 and surging to over £29.33 billion by 2030.
AI agents are already streamlining traditionally time-intensive tasks, from generating journal entries and matching transactions to flagging anomalies and forecasting risk. But their impact goes further. They’re changing how finance professionals engage with data, not as number-crunchers buried in spreadsheets, but as strategic advisors who can unlock deeper business insight for them and their clients.
Meet your new favourite colleague
Unlike legacy automation, AI agents are purpose-built to tackle specific tasks, and increasingly, to adapt to user needs. These systems don’t just process data; they learn patterns, generate recommendations, and help teams be more proactive – leaving the days of firefighting behind them.
Imagine an AI agent that pulls data from multiple systems, structures it for compliance, and posts it autonomously – no manual work required. Or one that, prompted in plain English and not code, can explain budget differences, or highlight unusual spending patterns. For finance teams, this means AI is no longer confined to the back office; it’s now a front-line partner in decision-making.
With low-code or no-code platforms making it easier than ever to create custom agents, firms don’t need to overhaul their systems or hire AI specialists to get started. These tools are now able to smoothly integrate with existing systems and processes, enabling teams to shift from preparers to reviewers.
Elevating people, not replacing them
What does this mean for people? The narrative of job displacement may grab headlines, but the reality is far more nuanced. AI isn’t about eliminating accountants or their jobs, it’s about removing the bottlenecks that prevent them from adding real value.
Across the profession, talent shortages, burnout, and rising expectations are pushing teams to their limits. AI helps relieve that pressure. By offloading repetitive tasks like data entry, invoice matching, it frees up bandwidth for finance professionals to focus on higher-level work like strategic thinking, creative problem-solving, and driving business value.
In fact, the evolution of AI is even elevating the profile of accountants themselves. No longer seen solely as record-keepers or compliance enforcers, finance teams are being repositioned as business partners, helping organisations respond to change, manage risk, and plan better for the future.
What’s standing in the way of AI?
Despite the clear upside, widespread AI adoption in accounting isn’t without its hurdles. Smaller firms, in particular, may face constraints around budget, skills, and competing priorities. But the rise of AI-as-a-Service (AIaaS) models are levelling the playing field, offering access to advanced capabilities without large upfront investments.
Secondly, with so many AI tools promising transformative results, it’s easy to get caught up in flashy features that don’t actually solve the real problems. For finance teams working with sensitive data, the focus needs to stay on what matters most, and any AI solution must be built with transparency, auditability, and data privacy from the ground up.
Finally, leadership execution makes all the difference. Communicating a clear vision that AI is a support mechanism, not a substitute, is key to building trust and driving cultural buy-in. Providing training, encouraging experimentation, and choosing tools that prioritise security and compliance are all must-haves.
Compliance shouldn’t keep you up at night
As regulations become more complex, from the UK’s Making Tax Digital initiative to evolving EU reporting standards, AI is proving invaluable to finance leaders. It can monitor regulatory changes in real-time, update internal processes automatically, and ensure that financial operations stay audit-ready at all times.
AI tools can also create complete audit trails, improve the accuracy of reconciliations, and reduce the time and stress involved in month-end close. The result? Fewer errors, reduced risk exposure, and more time spent adding value instead of chasing compliance.
The takeaway for finance teams
The most exciting aspect of AI’s rise in finance isn’t the technology itself, it’s what it allows humans to do. With AI agents handling the heavy lifting, finance professionals can move beyond transactional work and into roles that are more fulfilling and meaningful. Yes, there are challenges, but ultimately, by getting on board with what AI has to offer, firms can unlock more value not just for their bottom line, but for the people behind the numbers.
