Will AI signal end of billable hours for accountancy firms?

The rise in the use of artificial intelligence in accounting could hit billable hours, but fixed fees could be the best alternative, argues Alex Smith, global search & AI lead, iManage

Within nearly every professional services field, there is a cyclical recurrence of conversation around how professional services are charged. In the accounting world, this conversation tends to center on the billable hour and whether other types of pricing models are a more appropriate fit for certain workflows or deliverables.

The most recent recurrence of this conversation has coincided with the emergence of artificial intelligence (AI) powered tools like next generation search, knowledge graphs, and generative AI, which can enable new ways of working at accountancy firms.

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