Practical ways to embrace AI in your firm
Ellen Choi shares how AI is reshaping accounting and what firms must do to stay competitive in a rapidly evolving industry.
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By Bianca Prieto | Editor
The accounting profession is at a crossroads, with technology and AI transforming the way firms operate. For many firms, the challenge is clear: adapt quickly or risk falling behind.
Ellen Choi has made it her mission to help accountants stay ahead. As the founder of Edgefield Group and co-founder of Aiwyn, she’s spent her career solving problems at the intersection of innovation and accounting. With practical insights and proven strategies, Choi empowers firms to embrace AI, improve efficiency and build practices ready for the future. The Net Gains sat down with Choi to uncover how accountants can harness AI to stay competitive, streamline operations and build future-ready firms.
How should firms approach investing in AI today and in the future?
To navigate the evolving AI landscape, firms should adopt a structured, strategic approach. My AI ATM (Adopt, Test, Monitor) Framework offers a roadmap for identifying opportunities, aligning them with business goals, and scaling AI effectively. Here are practical steps for incorporating AI:
- Start with the Business Problem: Pinpoint specific challenges and assess how AI capabilities can address them.
- Adopt Proven Technologies: Leverage tools like Microsoft Copilot and ChatGPT Plus to boost productivity and encourage AI adoption. Prioritize AI cybersecurity training for safe implementation.
- Test Emerging Technologies: Explore custom GPTs via Copilot Studio or Azure for internal AI solutions.
- Monitor Trends: Keep an eye on innovations like client-facing AI assistants and AI agents, acting when the time is right.
- Encourage Collaboration: Use a top-down and bottom-up framework to align staff insights with prioritized, high-impact opportunities.
What excites you most about AI today?
The rapid progress in AI agents and multimodal applications is both fascinating and slightly daunting. Companies like OpenAI, Microsoft and Google are driving agentic AI capabilities forward, with tools like GPT-4o Tasks redefining possibilities. I’m equally inspired by multimodal innovations like text-to-voice tools (NotebookLM, Eleven Labs) and generative AI-powered video platforms (Heygen, Synthesia), which are delivering significant value to accounting firms. Success lies in identifying meaningful use cases, adopting these technologies carefully, and establishing responsible-use guardrails. Firms that strategically and boldly integrate AI stand to gain a strong competitive advantage.
What motivated you to launch Aiwyn and later Edgefield Group?
During my early career at Google’s finance team, I encountered the frustration of working with outdated, legacy software—challenges accountants still face today. This experience sparked my mission to create modern, user-friendly tools for back-office teams. After founding and selling a B2B HR tech startup, I saw firsthand the inefficiencies in paying accounting bills. Conversations with early Aiwyn customers confirmed that manual, error-prone accounts receivable processes caused delays and wasted time.
This led my co-founders and me to launch Aiwyn, helping accounting firms streamline practice management. Today, Aiwyn serves 130+ of the Top 500 CPA firms, employs over 100 team members, and has earned recognitions like Forbes 100 Rising Stars and Accounting Today's Best New Products Award. After stepping into an advisory role as Aiwyn scaled with a $113MM capital raise, I reflected on my next steps. Recognizing the immense potential of AI to transform the profession, I launched Edgefield Group to accelerate innovation in accounting.
Answers above edited for brevity and clarity.
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The Net Gains is curated and written by Janet Berry-Johnson and edited by Bianca Prieto.