The $100B Revolution: How LLMs will Change Accounting Forever

In this episode, I sit down with Seema, a partner on the Andreessen Horowitz Fintech Team, to explore how AI is transforming accounting. We uncover why 75% of accountants may retire over the next decade and how AI could relieve shortages by streamlining data ingestion, research, reporting, and client advising.

Seema also shares insights from her comprehensive market map on AI in accounting, along with strategies for founders looking to sell either directly to firms or through embedded solutions. Whether you’re curious about the future of audit, tax, or month-end close, this conversation reveals how AI can reshape one of the largest professional fields.

00:00:00 - Why Accounting Faces a Crisis

00:02:06 - Seema's AI & Accounting Market Map

00:04:23 - Four Big Jobs for AI in Firms

00:06:57 - Data Ingestion & Month-End Close

00:09:08 - Research & AI-Driven Judgments

00:12:08 - Firms’ Excitement, Key Obstacles

00:15:08 - Challenges with Trust & Accuracy

00:17:27 - Selling AI: Firms vs. Companies

00:20:29 - Automation & Billable Hours Shift

00:23:38 - Embedded Accounting & Verticalization

00:26:52 - Niche Communities & Next Steps

00:29:24 - Future Outlook & Conclusion