AI, Intuit Upheaval, and the Future of Accounting

In episode 175 of The Woodard Report Podcast, Joe Woodard and Heather Satterley tackle some of the biggest stories shaping the accounting profession. From Intuit’s recent stock decline and workforce reductions to the rapid acceleration of artificial intelligence, the conversation centers on a common theme: change is happening faster than many professionals realize.

Joe and Heather also explore lessons from popular culture, productivity strategies, and emerging research that challenge long-held assumptions about the future of accounting work.

Intuit faces a challenging season

Heather opens the episode with several significant developments involving Intuit. The company has experienced a notable stock decline after reporting weaker-than-expected tax season results. The disappointing performance has also led to a shareholder lawsuit alleging that the company overstated TurboTax's pricing advantage.

At the same time, Intuit announced workforce reductions affecting approximately 3,000 employees, citing efficiencies gained through artificial intelligence.

While acknowledging the challenges, Joe notes that Intuit remains a profitable company with significant resources and believes it is well-positioned to adapt.

Heather also highlights the launch of ChatGPT Finance, which allows users to connect financial accounts and ask questions about their financial data. The development raises important questions about how traditional financial software providers may respond as AI platforms continue expanding their capabilities.

 Watch Episode 175 here 

Why talent is becoming a competitive advantage

Joe also points to Sage's hiring of former Intuit executive Ted Callahan as Deputy CTO. To Joe, the move signals a broader trend within the accounting technology industry.

As software companies continue building AI-powered solutions, they need leaders who understand not only technology but also the workflows, challenges, and opportunities accountants face every day. The future of accounting technology will increasingly depend on the ability to blend technical innovation with deep profession-specific expertise.

Quote of the week: Preparation meets opportunity

Heather's quote of the week comes from The Incredibles. When Helen Parr questions why Edna Mode created a superhero suit for Jack-Jack before his powers were known, Edna replies: "Luck favors the prepared."

Heather says the quote perfectly reflects today's AI environment. Professionals who invest time learning and experimenting with new technologies will be better prepared when opportunities emerge.

Joe's quote comes from Project Hail Mary: "You just have to find someone to be brave for."

Together, the quotes reinforce an important message. Preparation requires courage, and courage often comes from focusing on the people who depend on us, whether they are clients, colleagues, or family members.

The rule of three for productivity

Heather shares a practical strategy that has improved her own productivity: the Rule of Three.

Rather than maintaining endless task lists, she identifies the three most important priorities for the day and focuses on completing those first. Once finished, she resets and selects the next three priorities.

The approach helps reduce overwhelm and creates clarity about what truly matters. Joe adds that many professionals struggle not because they lack activity, but because they spend time on lower-value tasks instead of focusing on their highest priorities.

The danger of "not us" thinking

One of Joe's most significant takeaways this week comes from technology researcher Richard Susskind, who describes a mindset he calls "not us thinking."

This occurs when professionals believe artificial intelligence will transform every industry except their own. Joe explains that accountants often acknowledge AI's potential in medicine, law, research, and manufacturing while assuming their own work is somehow immune to disruption.

Joe argues that this assumption is increasingly risky. If a process can be explained, documented, and repeated, AI will likely find ways to perform it, even if it approaches the task differently than a human would.

His advice is clear: do not place your value solely in the process itself. Instead, focus on the uniquely human capabilities that technology cannot easily replicate, including judgment, wisdom, empathy, and relationship building.

Looking ahead

The episode closes with a broader reflection on the pace of AI investment and innovation. Global spending on artificial intelligence now rivals some of the largest technology initiatives in modern history, suggesting that the momentum behind these developments is unlikely to slow.

For accounting professionals, the challenge is not simply keeping up with technology. It is understanding how to leverage technology while continuing to deliver the insight, trust, and expertise that clients value most.

As this episode makes clear, the future belongs to professionals who stay curious, remain adaptable, and continue learning. Change is coming quickly, but for those willing to prepare, it also brings tremendous opportunity.

Listen to the full episode and subscribe to The Woodard Report Podcast

🎧 Listen to the full episode at woodard.com/podcast.

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Thank you to our show sponsor, Digits!

Digits is the world's first agent general ledger, accounting software that works for you. Built from the ground up for the AI era, Digits automates bookkeeping in month and shifting your team from data entry to review and advisory. Visit Digits.com to get started today.

This article was written with the assistance of AI and edited by a human.