Hey, I'm Damon Millar. I'm an accountant, fractional CFO, and business advisor. I help business owners grow profits, reduce tax, and build lasting wealth, and I help accounting firms run a more proactive, higher-value practice.
McKinsey, Deloitte, and PwC all published major AI research this year. Between them they surveyed thousands of finance and accounting professionals. I read the three that matter and pulled out what's actually useful for people running a practice or a finance function, not a research department.
Here's the short version before you read the long one: the tools exist, and almost everyone now has them. The gap is implementation. The firms pulling ahead didn't buy better software. They changed how the work gets done.
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Read separately, the three reports look like they're measuring different things. Read together, they tell one story.
💡 Adoption is nearly universal. Results are not. The technology is no longer the constraint. What separates the firms getting a return from the firms getting nothing is whether they redesigned the work around the tool, or just bolted the tool onto the old process.
Three numbers make the point:
If you take nothing else from this: buying the tool is the easy 10%. The value is in the other 90%, and most firms never do it.
McKinsey's finance research is the most practical of the three because it names where the money is.
The three finance domains with the highest ROI, and the order to tackle them: