Market Share of AI In Accounting Industry
Artificial intelligence in the accounting market is highly fragmented and comprises multiple influential players competing for greater market share. These main firms, which have significant market shares, are concentrating on growing their clientele internationally. To improve their market shares and profitability, they are also offering fresh, creative ideas and engaging in business transactions and mergers. Google Inc., Microsoft Corp., Xero, Intuit, etc. are important participants.
In March 2023, Microsoft Corporation announced the new A.I. features, dubbed Copilot. Word, PowerPoint, and Excel, among the company's most popular business tools, will all support Copilot technology, which is based on a large language model, or LLM, a class of artificial intelligence software.
In February 2023, Intuit Inc. introduced artificial intelligence (AI) enhancements for its virtual export platform to drive highly personalized experiences, connect consumers with experts, and reduce tax filing time with its portfolio of Turbo Tax Alive goods. Intuit, a pioneer in artificial intelligence (AI) and a market leader with over 100 million small business and consumer clients worldwide, uses AI technologies like machine learning, natural language processing, and knowledge engineering to seamlessly combine virtual and real human experts on the platform that powers its Turbo Tax Live and Quick Books Live products and services.
AI in Accounting Market Leaders
Xero Limited
Intuit Inc.
Sage Group
SAP SE
Epicor Software Corporation
*Disclaimer: Major Players sorted in no particular order
