We are in a new world of accountancy where trends in artificial intelligence and ESG assurance dominate the profession, making it unrecognisable in some ways from a few decades ago. As accountants, we need to rethink how we develop and grow accountants of the future to ensure we continue to attract high-calibre candidates into the profession. The key to this is innovation and creativity, and for this we need collective intelligence.
What Is Collective Intelligence?
Collective intelligence isn’t a new concept. It simply refers to a group’s combined capacity and capability to perform a wide variety of tasks and solve diverse problems. Collective intelligence has been found to consistently enhance the performance of groups and teams. It has become even more relevant today in the world of AI, where humans and technology need to combine to maximise productivity and drive business performance. Put simply, collective intelligence is 21st century common sense, and it enables diverse groups of people, data, and technology to achieve the goals of a business.
Collaboration as a Strategic Imperative
The World Survey Supplement in 2025, commissioned by International Accounting Bulletin, highlights the ubiquitous issues of AI, ESG, and talent shortage in the industry, and then goes further to talk about the need for collaboration and how collective intelligence is emerging as a pivotal driver for organisations seeking to accelerate innovation. In the face of uncertainty and global change, it is imperative that we focus on creating innovative solutions to problems and building resilience, both personally and professionally. Within the supplement, Amy Spillard, Head of Technology Partnerships at HLB, says:
"The concept of collective intelligence is transforming the way organisations approach problem-solving and innovation. By leveraging the shared expertise and diverse perspectives of their people, forward-thinking firms are driving creativity, efficiency, and growth in ways traditional approaches often fail to achieve.”
This means that for accountants, both in business and in practice, it is essential that we use collective thinking to operate effectively in an increasingly complex global environment.
Creativity: The Secret Ingredient
Creativity is a key component of collective intelligence. According to Lee Sze Yeng, Managing Partner, KPMG in Singapore:
"Accountants today are fast evolving to become ‘creative designers of businesses’ who have to embody the tenets of design thinking and innovation in a nuanced yet important way, akin to a creative production team that works in the background to bring ideas and solutions to life.”
The combination of creativity and innovation, particularly in terms of technology, can be a winning formula for the success of an accounting team.
Trust: The Timeless Core
It's important, though, amidst the evolution of the profession and the vast wave of technological, economic, and environmental change, to keep one key attribute of the accountancy profession at front and centre of our thinking. And that is trust. Trust is, and should always remain, at the heart of the accounting and audit functions. In fact, trust becomes even more important in areas like ESG assurance and AI explainability.
So when we are embracing all the new trends that we must adapt to and evolve with as accountants, trust remains at the heart of what we do, and ethics needs to play a key role when we are applying the concept of collective intelligence.
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