A recent survey of private equity and venture capital fund accountants shows that changes in the profession go beyond just working faster. While many discussions about AI focus on automation, the results suggest that technology will also change how accountants develop and understand financial insights.  

CPA Practice Advisor reports that in just one year, the percentage of fund accountants who see AI as important in their work rose from 61% to 78%, and most doubts about AI have faded. This makes sense for fund accounting, where complex tasks, scattered data, and strict reporting standards make advanced analytics especially helpful. 

More accountants now see AI as a tool for deeper data analysis, not just a way to speed up their work. Their main goals are better reporting and analytics, which shows a move toward using technology to answer harder questions about performance, valuation, and investment results. This change is also affecting how accountants view their jobs, as they move from just making reports to building data systems and focusing on the most important insights.  

The survey also highlights ongoing challenges. Manual data entry, reconciliation, and poor system integration are still major problems, showing that automation alone cannot fix inefficiencies without better data systems. Security is also a growing concern, with 82% of respondents saying it is extremely important when choosing software.