Transforming the Norm: The Propulsion of Artificial Intelligence in Workplaces by Generation X
In a surprising turn of events, older accountants are adopting Artificial Intelligence (AI) at a faster pace than their younger counterparts, according to recent studies. This trend challenges the common notion that younger generations are quicker to embrace technology.
Senior leaders, with decades of experience in manual processes, are recognising the value of AI in streamlining operations and reducing manual workloads. Their awareness of the looming talent shortage in the industry further fuels their interest in adopting AI to maintain productivity.
Research shows that accountants aged 55 and over are adopting AI at a rate of 50% for client insights and reporting, compared to only 16% of 18-24-year-olds. For compliance tasks, the adoption rate among the older age group is 71%, compared to 39% among the younger group [1].
This disparity can be attributed to differing work experiences, responsibilities, and perceived utility of AI technology. Older professionals may face more pressure to optimise and automate time-consuming regulatory tasks, driving faster AI adoption. Conversely, younger accountants might still be building their foundational skills or might not yet have roles that demand AI-driven efficiencies as much [3].
To ensure a widespread distribution of AI usage across all employee demographics, businesses can provide targeted training and reskilling programs, promote awareness of AI benefits, encourage cross-generational collaboration and mentorship, and invest in continuous learning programs that emphasise STEM and digital skills [4].
The higher adoption rate among older accountants presents a crucial opportunity for businesses to transform their approaches to work. AI offers a powerful opportunity to help teams work smarter, not harder, and achieve the work-life balance that 85% of new practitioners rank as a top priority when choosing an employer [2].
However, there is a risk of gaps in training and access to AI upskilling among junior staff in accounting firms. To make the most of the opportunities presented by AI, businesses need to ensure training is provided right across the organisation.
In conclusion, the disparity in AI adoption between older and younger accountants is contrary to stereotypes. Companies should customise AI integration efforts to support all employees, regardless of age, focusing on training, ease of use, and demonstrating tangible benefits [1][4]. For AI to help transform current approaches to work, usage must be widespread across all employees, not just certain demographics.
- To optimize their operations and manage workloads effectively, senior leaders in the accountancy field are increasingly adopting AI, especially for client insights, reporting, and compliance tasks.
- The older generation of accountants (55 and over) are adopting AI at significantly higher rates for client insights (50%) and reporting (71%) compared to their younger counterparts (16% and 39% respectively).
- The faster AI adoption among older accountants may be due to differing work experiences, responsibilities, and perceived utility of AI technology, with older professionals facing more pressure to optimize regulatory tasks.
- To ensure equal distribution of AI usage across all employee demographics, businesses can provide targeted training and reskilling programs, encourage cross-generational collaboration and mentorship, and invest in continuous learning programs focused on STEM and digital skills.
- With AI offering a powerful opportunity to improve productivity, work-life balance, and career development, it is crucial for businesses to bridge the training gaps among junior staff to fully leverage this technology across the organization.
