I'm writing this article because a lot of ACCA and CIMA students have been asking recently about whether AI is going to wipe out accountancy jobs. A recent Economist cover story added fuel to that worry, and I wanted to share a calm read on it.

The May 15th 2026 issue of The Economist leads with a cheery article titled "Prepare for an AI jobs apocalypse".

While I respect The Economist (I'm a long-time subscriber after all), they have a history of having been famously wrong, from the death of the euro to repeated predictions of American decline to name just two. And I believe they're wrong again.

Firstly, The Economist article doesn't actually represent the consensus view on AI and jobs. Aside from the CEOs of the frontier AI labs and their investors (who have a big incentive to overstate AI's impact given all the capital they've thrown at it ahead of IPOs), the majority of commentary from mainstream publications, labour economists etc are dialling the panic down, not up. The New York Times, a16z and The Ringer have all published articles arguing the opposite side recently.

Secondly, the history of capitalism is a history of innovations that rendered some jobs obsolete but ultimately ended up creating newer, better jobs that created more wealth and wellbeing. That's the base rate. Why should this time be different?

Even so, let's assume The Economist is directionally right. What are the implications for accountants and finance professionals?

Without a doubt, labour markets are changing fast. Big Four firms are restructuring around AI. Junior tasks that used to fill an accountant's first eighteen months (basic reconciliations, transaction processing, first-draft compliance work) are increasingly being done by machines.

When finance professionals ask me how best to position themselves in the age of AI, I come back to four fundamentals:

1. Get qualified. ACCA and CIMA are both updating their syllabi for the AI age. They continue to be highly respected credentials that command higher pay, better roles, and access to the work AI cannot do. If you haven't qualified, qualifying is still the highest ROI thing you can do for your career.
2. Become AI-fluent. AI on its own won't replace you, but an accountant who knows how to use it well might. Fluency is more than using ChatGPT for emails. It's knowing when to use it, when not to, and how to use it without switching your brain off.
3. Sharpen your critical thinking. AI produces volume. It also produces hallucinations, fabricated citations and confident nonsense. EY had to retract a published study just days ago for exactly this reason. The work of reviewing, challenging and signing off on what AI produces is becoming one of the most valuable things an accountant does.
4. Build the soft skills accountants are often accused of lacking. Communication, leadership, business partnering, the ability to sit with a non-finance colleague and translate the numbers into something they can act on. AI can produce a Powerpoint but it cannot present it, defend it, and influence decisions in a room of senior leaders.

Hope it's useful. As always, feel free to get in touch with me (thomasnewman@vivatuition.com) if you want to push back, disagree, or ask about anything specific. I read every email.

Best, Thomas

Founder, VIVA