As we all know, artificial intelligence (AI) is quickly becoming the dominant force in everyday pursuits. Consequently, the lack of job security has emerged as the number one concern for workers today. One way forward to some degree of stability is the pursuit of a state license, which often requires education, training, and testing in occupations such as accounting. In Pennsylvania, for aspiring CPAs their road is full of obstacles. They must obtain a college degree, pass a complex exam, and obtain two years of experience in public accounting. Such rigorous, organized vetting keeps professionals smart and sharp and helps them excel. That’s not just an outgrowth of local resistance. State licenses have skyrocketed by as much as 30 times in recent decades.
The consumer demand for state licenses comes from consumers wanting a third-party guarantee of someone’s skills and abilities. Industries are changing quickly, and the peril caused by AI is accelerating. In response, a flood of these professionals are pursuing licensed avenues to protect their craft. Trade schools across Pennsylvania, and the country, are seeing booming enrollment. Since 2020, they’ve gone up more than 35%. This wave is driven by increasing demand to fill professional lanes that require some form of formal credential, especially in industries like accounting.
Candidates need to earn a bachelor’s degree, pass the CPA exam, and gain two years of applicable work experience. Further, CPAs are required to meet continuing education requirements each year to stay licensed. This ongoing education cultivates confidence in the knowledge that professionals are always up to date with best practices and industry standards.
The landscape of employment is shifting. If a role can be done by non-CPAs or non-licensed professionals, it’s likely to be replaced by AI tech. Predictions suggest that much of the work currently performed by accountants, customer service agents, software developers, marketing staff, and even accounting personnel could be automated within the next few years. The emergence of AI brings new opportunities and challenges to these professions.
The advent of automation is a real and present danger, licensed professions can provide an important defense from complete automation displacement. The procedure for verifying any credentials linked to state licensing offers an unprecedented level of trust and reliability for consumers. As one person’s dad said, “Nobody’s ever going to stop needing their taxes prepared. They’ll always need financial advice. Having a CPA license you can always set up shop and feed your family.”
This states’ sentiments echoes the continuing need for regulated work in an changing economy. While AI may streamline many tasks, the complexities of financial advice and tax preparation still require human judgment and expertise. The CPA profession is a prime example of how robust standards can support the profession and protect its integrity, even as technology continues to transform the industry.
State licensing boards are under heavy fire. We applaud them for engaging deeply with this moment and the growing centrality of AI in every sector. Critics argue that while licensing provides a framework for accountability, it may hinder entry into professions for new candidates. Consumers are calling for more transparency and accountability. In turn, these boards need to artfully navigate between preserving rigorous standards and being inclusive to various talent levels.