AI has made accounting cool again, as productivity gains take some of the “boring” tasks off employees’ plates and make the profession more attractive to Gen Z looking for stable, high-paying work. But the technology is also creating a new challenge for the industry: convincing clients that the human expertise behind the work is still worth paying for.
Ernst & Young is betting that it is. The Big Four professional-services giant is planning to spend $100 million to reward U.S. employees who develop “future-focused” human skills, such as business acumen, judgment and adaptability, and experiment with technology to drive innovation and improve client services.
Individuals can earn spot awards up to $500, while individuals and teams whose work makes a material difference to the firm can receive cash awards up to $25,000, according to the Wall Street Journal.
“How we reward our people defines what we value as a firm. And what we value are confident professionals who continuously push themselves to learn fast and drive a lasting impact,” EY Americas Chief Talent and Culture Officer Ginnie Carlier said in a press release.
“With these awards, we are empowering our EY professionals to bring a curious mindset to their work, to challenge what is possible and to ultimately shape the future of EY US.”
EY’s move comes as firms are asking employees to become more fluent in AI without losing the distinct human skills that can’t easily be automated. For younger workers entering the industry, that balancing act is already becoming a complicated, but central part of preparing for a career.
Accounting firms are leaning into human skills—but Gen Z are worried about overreliance on technology
Young workers and employees alike are aware of the need to protect human skills.
At fellow accounting firm KPMG, 76% of its latest summer intern cohort said future career success will require both strong human skills and the ability to effectively direct AI. At the same time, 43% worried that overreliance on technology could limit their critical-thinking abilities—suggesting that young workers are already thinking carefully about which skills they need to protect as AI takes on more of their work.
“For early-career professionals who aspire to leadership roles, the ability to evaluate information, apply context, exercise sound judgment and explain the ‘why’ behind a recommendation will be critical,” Derek Thomas, KPMG U.S.’s national partner-in-charge of university talent acquisition, previously told Fortune.
“Those are the capabilities that help people earn trust and grow into leadership roles.”
Margaret Burke, PwC U.S. talent acquisition and development leader, similarly emphasized the importance of human judgment as a key part of standing out in the hiring and promotion process.
“This is really a moment for learning agility,” Burke told Fortune last year. “AI can do a lot, but it still needs the human skills—it needs people who can think critically, ask better questions, and apply judgment. If you can be the person who helps your team move forward in the face of change, you’re already leading and can differentiate yourself in a tangible way.”
AI is eating away at entry-level accounting work—and some young workers are quitting
Adapting to AI isn’t just about teaching young workers which skills to develop. Accounting firms also have to make sure there are opportunities for those workers to develop them in the first place—and the industry’s shifting talent pipeline is already raising concerns.
A recent BambooHR survey found that one-third of new accounting and finance hires quit within their first year, as the role of entry-level workers changes alongside the technology. At the same time, AI is taking over some of the routine tasks that once gave younger employees a chance to learn the business from the ground up.
The survey also found a 3-to-1 ratio of senior-level hires to entry-level hires, highlighting how companies are increasingly favoring experienced workers even as they ask younger employees to build the skills needed to succeed in an AI-driven workplace.
That makes opportunities to develop human skills even more valuable. As AI takes on more of the tedious work, employers need talent that knows not just how to use the technology, but how to assess its output, design processes around it and determine where human judgment needs to come in.
“I’m glad that a generative AI tool has let us generate something that’s interesting, but is it right?” BambooHR CFO Justin Judd said. “Is it correct?”