Artificial Intelligence (AI) is no longer some futuristic concept reserved for Silicon Valley. It’s here, right now, reshaping the accounting profession in ways that are both exciting and, frankly, a little confronting, especially for principals and partners who’ve built their firms over decades of hard work. But don't panic - there is a silver lining.
If you’re feeling overwhelmed by the idea of adapting your business to leverage AI, you’re not alone. Across the industry, firms are scrambling to figure out how to integrate AI tools into their workflows. And make no mistake: there’s a race on. The businesses already out in front are discovering ways to multiply the capacity of their best employees — empowering them to manage many more clients, at a higher quality, by delegating the repetitive grunt work to AI agents.
That’s not some far-off possibility. It’s happening right now.
Competitors aren’t standing still
If that’s not happening in your practice yet, it’s worth pausing to take stock. Chances are, your competitors are already experimenting with (or fully implementing) AI-powered efficiencies. That means they can do more, with less, while giving clients faster answers and slicker service.
For a firm owner in their 30s or 40s, the answer might be to double down — to invest in AI, hire consultants, and retool systems for the future. But what if you’re in a different position? What if you’re already thinking about slowing down, retiring, or passing the baton?
A different perspective: AI as your exit partner
Here’s the encouraging news: you don’t have to see AI as a threat. You can flip the script and see it as your best exit strategy.
Those same competitors who are racing ahead with new AI-empowered business models? They’re also your most likely buyers. For them, acquiring your firm isn’t just about expanding fee base and clients — it’s about securing the relationships, goodwill, and infrastructure that you’ve carefully built. AI simply gives them more firepower to maximise the value of that acquisition.
Put differently: the AI revolution is creating a stronger appetite for growth. And that makes your practice more attractive than ever.
Why waiting could backfire
Of course, there’s another side to the coin. The longer you hold on, the more ground you risk losing. As AI tools become standard, client expectations will shift. Margins could be squeezed. Recruiting younger partners might get harder if they’d rather build AI-first firms than take over legacy systems.
Retiring sooner, rather than later, means you can sell while the goodwill is strong, while your client base is loyal, and while the demand from acquisitive firms is high.
Protecting your legacy
Selling or stepping back isn’t about “giving up.” It’s about being strategic — choosing to exit on your terms, at a time when your firm is valuable and your reputation is intact. It’s also about ensuring that your staff and clients transition smoothly into the future, with buyers who have the tools and energy to thrive in the AI age.
And let’s be honest: it’s also about peace of mind. Instead of spending the next five years figuring out how to teach robots to reconcile bank feeds, you can spend them enjoying the freedom you’ve earned.
Final thought
AI is here. It’s changing the profession, and fast. For younger firm owners, it’s a challenge to embrace. For older vendors, it might be the clearest signal yet that now is the right time to act.
Rather than fearing the AI wave, you can ride it into a well-timed, well-executed retirement or succession. And when you look back, you may well find that AI didn’t just reshape accounting — it reshaped the smartest decision of your career.
