SMBs are acting on financial advice from AI chatbots — before talking to their accountant, as experts warn 'that pressure is only going to grow' | Tech Radar

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SMBs are acting on financial advice from AI chatbots — before talking to their accountant, as experts warn 'that pressure is only going to grow'

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70% of UK small businesses turn to AI for financial advice before their accountants

Most business leaders are dissatisfied with current accounting services

Nearly three-quarters (70%) of UK SMEs say they often or always act on AI-generated financial, tax or business advice before they consult their accountant, according to a new report of 500 UK SMEs commissioned by Ravical.

Conversely, only 5% rarely or never do this, highlighting just how widespread AI adoption is when it comes to seeking advice.

Answering tax questions, responding to financial planning queries, serving up business strategies and triaging day-to-day accounting issues are among the most common use cases, with accountants instead being used to validate AI-generated advice as a secondary layer.

As for the role of a human accountant, only one-third of UK SMEs described their accountant as a genuine working partner who proactively contributes ideas and delivers strategic insight, which could be why business leaders have turned to artificial intelligence – personalization, as well as efficiency.

Clearly, leaders aren’t happy with their existing accountants, because 91% have considered changing during the past year over a desire for more advice, quicker responses, forward planning and proactivity.

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Cost isn’t actually so much of an issue, with 92% saying they’d be prepared to pay higher fees if accountants actually delivered the quality of services they wanted.

While the report confirms that many turn to AI in the first instance, it also offers an insight into why human accountants might be losing business, with customers still happy to spend the money with them.

Leaders aren’t actually looking for compliance so much as forward-looking advice and the proactive identification of opportunities.

“You become the second opinion, and you have to be better and faster than the tool the client already used,” CEO Joris Van Der Gucht noted.

Expectations from accountants are evolving as AI automates compliance

But it’s not just business leaders who should be turning to AI to boost efficiency. Xero research revealed that the UK accountants who use AI at work deliver results 31% faster.

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Institute of Chartered Accountants in England and Wales (ICAEW) also found that 85% of accountants are willing to use AI, with four in five (79%) seeing their roles evolving into ‘data guardians’ – verifying AI-generated outputs and expanding on them with more personalized context. Ravical found that foundational compliance work is already being automated through AI, and the role of an accountant is evolving.

90% of SMEs believe compliance work could largely be handled by AI within the next few years, but 35% already see that as being true today.

AI’s role in an accountant’s office is to remove the low-value and administrative work, allowing them to focus on judgement, strategy and advice.

The ICAEW report, published in April 2025, also acknowledges the need for broader business advice and client relationships. It also addresses the continued role of humans in the profession – specifically that human judgement remains crucial. While SMEs are clearly happy to check AI for advice in the first instance, trained professionals are clearly valued when the stakes are higher.

Rather than replacing human accountants altogether, AI is mostly redefining what business leaders expect from their accountants. With routine compliance now considered either automated or nearly automated, and many businesses turning to AI for basic guidance, it could be good news for accountants.

The ones that succeed will likely be the ones to turn this time into higher-value, quality advice and relationships with their customers.

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With several years’ experience freelancing in tech and automotive circles, Craig’s specific interests lie in technology that is designed to better our lives, including AI and ML, productivity aids, and smart fitness. He is also passionate about cars and the decarbonisation of personal transportation. As an avid bargain-hunter, you can be sure that any deal Craig finds is top value!

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