Why only accountants can save accountants from AI

The Institute of Chartered Accountants of Singapore (Isca) recently hosted a workshop with OpenClaw Singapore on artificial intelligence agents. One thing became very clear from that discussion. That means AI is no longer a distant prospect for accounting professionals.

Technology has already begun to change the way we work, and the pace of change is only accelerating. However, full automation still feels far away. why?

From an outside perspective, accounting is often seen as the processing of transactions or the mechanical application of rules. But those who have done the work know otherwise.

Accounting requires judgment, context, and interpretation. This is why automation in this field is gradually increasing. Not because of a lack of technology, but because the task itself is much more complex than it seems.

Let’s take a simple example. How does a system cope with a contract that bundles software, implementation services, and future upgrades, with tiered payment terms and no clearly defined performance obligations?

At this point, accounting stops being data and begins to judge.

We have standards, frameworks, and checklists that make our profession look structured and predictable.

But in reality, numbers are more than just numbers. It involves intent, context, risk, and interpretation. Two experienced accountants may look at the same transaction and come to different but defensible conclusions.

It’s no wonder that there are job insecurities. When faced with something unfamiliar, we often instinctively feel anxious.

Think back to the first time you jumped into a pool or rode a bike. AI can feel the same way. Plus, the constant headlines about turnover can easily overshadow the opportunity.

What we often overlook is that while some roles evolve or are replaced, new roles are also created.

At the same time, AI has the potential to eliminate the late nights, manual checks, and repetitive tasks that many accountants have endured in silence for years.

This is not the first time the profession has faced such changes.

Over the past few decades, accounting has evolved from simple record-keeping in the Middle Ages, to structured bookkeeping in the era of merchants, to achieving control and scale during industrialization, to protecting trust in modern capital markets.

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Each wave of change reduced manual work and increased the level of judgment and expected value. This moment of AI is truly the next chapter. History shows that change does not make this profession weaker, it makes it stronger.

So why do many AI solutions still struggle in real-world accounting?

It’s not a question of ability. It’s a language issue. Accounting is the language of business. AI is the language of logic and data.

Few people today are fluent in both.

That’s why I believe that: Only accountants can save accountants from AI. Not by resisting it, but by moving forward to shape it.

Change will happen whether we are ready or not. Our roles will continue to evolve. Some responsibilities will shrink, but entirely new ones will emerge. The real risk is not losing your job, but being unprepared for a change in your profession.

And therein lies the opportunity.

The next generation of accountants will be the lucky ones. No need to spend nights refining spreadsheets, tracking documents, and repeating manual checks. Much of that work will be automated.

Instead, they end up doing more thinking, more advice, and more decision-making.

Therefore, accountants must proactively develop the skills and confidence to use AI tools effectively. Increased AI fluency will help guide how technology is deployed within an organization, ensuring it is applied with the appropriate level of professional judgment and governance.

If we want a future where AI strengthens rather than weakens the profession, accountants must take the lead.

I am the CEO of Isca, which will launch an AI Fluency program for accounting professionals in June 2026. The program is supported by the Infocomm Media Development Authority and is available free of charge to Isca members, Singapore citizens and permanent residents.