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Fieldguide is one of a plethora of startups envisioning ways in which artificial intelligence can transform the workplace. Former Ernst & Young consultant Jin Chang, who founded the startup in 2020, estimates about 40% of jobs remain unfilled in the audit and advisory industry. AI can help free up accountants for higher-value work, he said.
The top accounting firms, the so-called Big Four, have collectively pledged billions of dollars for artificial intelligence. But the profession is facing a crisis due to a shortage of accountants, according to the CPA Journal. It cited issues from enrollment declines to a 33% drop in candidates sitting for the CPA exam in 2021 compared with five years earlier.