We’re entering a new era of accounting driven by artificial intelligence or AI. While the benefits of AI in regards to everyday productivity and efficiency are pretty extreme, the real upside will be with the new era of business success.
Companies that Wait May Never Catch Up
For the past couple of decades, artificial intelligence has found itself stuck in research labs around the world, but it’s now ready for prime time. It will completely transform many sectors of the economy including rule-based industries like accounting. The accounting industry is in line for disruption. There has never been a single technology that is so transforming as AI is to the global economy. It’s more important now more than ever to start adopting AI for your CPA, accounting, or bookkeeping practice.
It’s quite shocking when you see publications like the Harvard Business Review state that companies that wait to adopt AI may never actually catch up.
Is AI Part of Your Firm’s Future?
Do you see AI as part of your accounting or bookkeeping firm’s future? Have you already started deploying AI? Do you feel like you need to implement AI to survive? Do you think AI is a fad? Or are you doubling down on adding machines and green ledger paper?
In a recent poll, we found about 64% of accountants and bookkeepers surveyed said that AI is in their firm’s future and that they need to implement AI to survive.
27% of accountants and bookkeepers surveyed said they see AI as part of their future and have already started deploying AI.
And the remaining 9% don’t see AI as part of their firm’s future.
So when you’re thinking about selecting the right AI platform, you want to first clarify why you’re investing in AI. For most accounting, CPA, and bookkeeping firms, the goal is to find an accounting platform that will generally work for you and will streamline mundane tasks.
Is AI part of the plan for your accounting or bookkeeping firm’s success? Share your thoughts in the section for comments below.
To learn how CPAs and bookkeeping firms are transforming, watch the webinar recording on “AI Best Practices for CPAs and Bookkeepers (How Accounting and Bookkeeping Firms Can Grow with Artificial Intelligence and Machine Learning).”