[Expert Opinion] How Accounting Has Evolved in the Era of AI: Insights from Phil Hobden

Artificial intelligence redefines how firms operate and deliver value in today’s fast-paced accounting landscape. Tasks that once required hours of manual effort, like reconciliations, data entry, and reporting, are now being automated, allowing accountants to focus on deeper analysis and strategic advisory.  

As AI continues influencing workflows, it is no longer a trend but a key pillar in the profession’s future. 

Ace Cloud Hosting spoke with Phil Hobden, Head of Business Development at Sage, to explore how AI transforms the accounting profession. With over 15 years of experience in fintech and financial services, Phil has worked with leading organizations like NatWest, Wolters Kluwer, and Visma, helping to launch and scale go-to-market strategies across the UK and beyond. He now focuses on empowering accountants through innovation and technology-led solutions at Sage. 

Phil regularly contributes to Elite Business Magazine as a recognized thought leader and Top 100 Sales Influencer (2025). His deep industry insight and passion for helping firms modernize make him a powerful voice in AI and accounting. 

In this expert Q&A, Phil shares how AI transforms the accountant’s responsibilities, which technologies drive the most significant changes, and how firms can prepare their teams for long-term success in a tech-enabled profession. 

How has accounting evolved in the era of AI? 

Accounting has moved on quietly but significantly over the past few years. What used to be slow, manual work has become faster, smarter, and far more data-driven. And this is where AI comes in. AI has streamlined the basics: data entry, reconciliations, audit sampling, it’s all becoming automated.  

But beyond speed, it’s about insight. We’re seeing real-time reporting, stronger forecasting, and early warnings on risks and anomalies. The best accountants are now in a position to provide forward-looking advice, not just historical reporting. AI hasn’t replaced anyone (yet)—but it’s raised the bar on what’s possible.  

How has the role of an accountant changed with the adoption of AI-powered tools and platforms? 

AI has shifted the accountant’s role from routine processing to more strategic, value-added work. With automation starting to handle the repetitive tasks, and products like Silverfin opening capacity, accountants can now focus on interpreting data, advising clients, and supporting business decisions.  

The skill set has evolved; technical understanding of these tools is now essential, but so is the ability to apply context and judgment. AI and technology can provide the data, but it’s still accountants who turn that into meaningful insight. The role is broader and more collaborative than ever. 

Which AI technologies or applications do you believe are driving the biggest impact in accounting today? 

Machine learning is making the biggest splash—helping firms with forecasting, fraud detection, and pattern recognition. Robotic Process Automation (RPA) is also having a major impact, automating everyday processes like invoice matching and reconciliations. Natural language processing is coming into play too, extracting insights from unstructured data like emails or contracts.  

What’s exciting is how much of this is starting to be embedded into everyday platforms—whether it’s Xero, QuickBooks, or tools like Silverfin bringing AI within reach of firms of all sizes, without needing big in-house teams to deploy it. 

What challenges or limitations should firms be aware of when integrating AI into their accounting processes? 

AI is only as good as the data and systems behind it. If your data is incomplete or inconsistent, AI will reflect that—errors in, errors out. There’s also the challenge of transparency: AI can produce results without always explaining how, which can be tricky in a regulated environment. 

And let’s not forget people—adopting AI isn’t just a tech upgrade, it’s a culture shift. Teams need the right training and mindset to really get the benefit. AI has huge potential, but firms need to get the foundations right first.  

Looking ahead, how can accountants future-proof their careers in an increasingly AI-driven profession? 

Stay adaptable. The landscape is changing fast, and the best thing accountants can do is build a mix of technical understanding and human skills. Get familiar with AI tools—know what they do and where their limits are.  

But equally, focus on the things AI can’t replicate critical thinking, ethical judgment, and client relationships. The future is about working alongside AI, not competing with it. Accountants who can blend tech knowledge with strategic insight will be the ones in the highest demand. 

Conclusion 

Phil Hobden emphasizes that firms must balance innovation with accountability. Successful adoption depends on the right tools and data integrity, employee training, and strategic leadership. As firms embrace this transformation, those investing in people and platforms will be best positioned to grow, scale, and serve clients more meaningfully in the years ahead. 

From automating workflows with AI to enabling real-time collaboration on accounting data and applications through cloud solutions like Ace Cloud Hosting, accountants must become technology changemakers within their firms—evolving into strategic advisors rather than just bookkeepers. 

What are your thoughts? Have you started integrating AI into your processes? Share your experiences in the comments below.