Ai - The Future Is Here

The impact of new technology on accounting practices will not be a flash in the pan but will change organisational structures, culture and client relationships. Let a progressive expert guide you through.

Back in 2001, I eagerly awaited the new sci-fi film from Steven Spielberg. Even better, it was based on a story treatment and development work done by the recently deceased Stanley Kubrick. Surely this was an unbeatable team of cinema greats? Unfortunately, AI was no Space Odyssey or Close Encounters. More 1941 than 2001 (look it up).

The real thing will be more dramatic, exciting and far-reaching for everyone in business – especially the professions. It’s worth quoting Jo Owen from the ICAEW’s magazine ‘Economia’ at length here.

“The emergence of AI in the professions will create winners and losers. The losers will be the professionals engaged in fairly routine tasks where pattern recognition is easier to codify. The winners will be the professionals and managers who raise their game and focus on dealing with the more complex and ambiguous tasks.”

For the high street SME’s this means a move to true business advisory services – leaving accounts and tax comp preparation to the emerging technological specialists.

More from Jo, “In future, survival requires accepting the risk of the more challenging tasks and assignments. Life is about to get a lot more interesting.”


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