Artificial Intelligence (AI) and the Accountancy Profession
There is no doubt that AI is going to be one of the main influences for the future development of the accountancy profession
Technological advances in robotics and AI, faster broadband speeds and machine learning are some of the factors driving change not only in the accountancy profession but for business generally. Routine tasks such as data entry will in the very near future be carried out by machines while many service type jobs will be replaced by Chatbots and AI.
The profession should embrace this change as a positive development for the level of service which we can offer our clients. Less time spent on data entry and routine tasks will free up time for more ‘added value’ type service offerings for clients such as strategic planning and business development.
Advances in AI are an opportunity and not a threat – the real question is how new technologies can be exploited for the benefit of our clients and the continued growth of their businesses.