The True Relationship Between AI and Accounting

There is no denying that Artificial Intelligence can now be considered an essential tool for many industries, to the point that it may potentially replace some jobs historically performed by humans. Some people believe this could happen to the accounting industry too. For example, using AI allows accountants to process large sets of data quicker rather than relying on a human bookkeeper to log and process hundreds or even thousands of transactions manually. However, many accountants argue that their roles would not be replaced by AI primarily due to following limitations of AI:

• Adapting and improvising to issues as they arise.

• Ability to understand tone and conversation nuances.

• Foresight to plan and prepare for your unique business needs and issues.

In short, AI may be able to replace a human bookkeeper in the near future, it is far from being able to replace your CPA, your CFO, your financial advisor or your financial controller. If you are interested in find out more about this topic, watch our video > https://www.youtube.com/watch?v=z2-p7r6Nj7w&t=3s.