Impact of AI Adoption on Firm Revenue and Efficiency

Could AI create a $20 trillion professional services earthquake? In this episode, Blake and David dive into the data showing that AI firms generate $45,000 more revenue per employee than non-adopters. You'll discover how AI is reshaping traditional accounting and what Claude's new ability to connect with your Gmail and calendar means for productivity. They also demonstrate how indistinguishable AI-cloned voices have become, sharing practical tips to protect yourself and clients from increasingly sophisticated voice scams. Plus, hear why the "impossible" US customs broker exam (with its shocking 4% pass rate) might offer accountants a lucrative alternative career path as tariff disputes heat up.

Sponsors
OnPay - http://accountingpodcast.promo/onpay
Bluevine - http://accountingpodcast.promo/bluevine (Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.)   
Reframe - http://accountingpodcast.promo/reframe2025
Payhawk - http://accountingpodcast.promo/payhawk

• (00:37) - The Impact of AI on Accounting Firms
• (02:04) - Voice AI Scams and Protection Tips
• (03:34) - Legislative Updates and Industry News
• (05:44) - Live Stream Shoutouts and Sponsor Acknowledgements
• (06:50) - AI in Accounting: Revenue and Efficiency Insights
• (14:01) - AI Voice Cloning Demonstration
• (16:29) - Protecting Against AI Voice Scams
• (24:12) - AI's Impact on Work and Productivity
• (32:32) - AI in Tax and Accounting Firms
• (38:19) - Success in Contract Drafting
• (38:43) - Starbucks' Automation Reversal
• (41:07) - AI and Productivity Gains
• (53:58) - The Great Legacy Extinction
• (01:08:58) - The Impossible Tariff Test
• (01:13:09) - Private Equity in Accounting Firms
• (01:16:03) - Conclusion and CPE Credits

Show Notes

Firms with AI report higher per-employee revenue vs others
https://www.accountingtoday.com/news/firms-with-ai-report-higher-per-employee-revenue-vs-others

Nine Ways to Protect Yourself from 'Impostor' Voice Scams
https://www.magzter.com/stories/newspaper/The-Wall-Street-Journal/NINE-WAYS-TO-PROTECT-YOURSELF-FROM-IMPOSTOR-VOICE-SCAMS

Danish study challenges claims about AI disrupting the labor market
https://getcoai.com/news/danish-study-challenges-claims-about-ai-disrupting-the-labor-market/

50% of finance teams still take over a week to close the books
https://www.cfo.com/news/50-of-finance-take-week-to-close-books-ledge-month-end-close-time-cfo-three-day-close-myth-/746085/

The Great Legacy Extinction: AI's $20T Takeover of Professional Services
https://www.venrock.com/insights/insights-technology/the-great-legacy-extinction-ais-20t-takeover-of-professional-services/

What Do You Think of the New PwC Logo?
https://www.cpapracticeadvisor.com/2025/04/30/what-do-you-think-of-the-new-pwc-logo/159946/

Big Four accounting firm PwC to slash about 1,500 jobs in the US
https://www.reuters.com/sustainability/accounting-firm-pwc-cut-1500-us-jobs-ft-reports-2025-05-05/

How are different accounting firms using AI?
https://tax.thomsonreuters.com/blog/how-do-different-accounting-firms-use-ai/

Customs Broker License Exam (CBLE)
https://www.cbp.gov/trade/programs-administration/customs-brokers/license-examination-notice-examination

Need CPE?

Get CPE for listening to podcasts with Earmark: https://earmarkcpe.com
Subscribe to the Earmark Podcast: https://podcast.earmarkcpe.com

Get in Touch

Thanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.

Sponsorships

Are you interested in sponsoring The Accounting Podcast? For details, read the prospectus.

Need Accounting Conference Info? 

Check out our new website - accountingconferences.com

Limited edition shirts, stickers, and other necessities

TeePublic Store: http://cloudacctpod.link/merch

Subscribe

• Apple Podcasts: http://cloudacctpod.link/ApplePodcasts
• YouTube: https://www.youtube.com/@TheAccountingPodcast
• Spotify: http://cloudacctpod.link/Spotify
• Podchaser: http://cloudacctpod.link/podchaser
• Stitcher: http://cloudacctpod.link/Stitcher
• Overcast: http://cloudacctpod.link/Overcast

Classifieds
REFRAME 2025 - http://accountingpodcast.promo/reframe2025

Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAd

Transcripts

The full transcript for this episode is availa...