AI Powered Humans and the Effect on Advisory Services Part 1

As technology continues to disrupt the accounting industry it is becoming more common to hear that AI (artificial intelligence) is going to take away our jobs. The idea that AI is going to replace humans is creating a misnomer that accountants may become irrelevant. However, AI is not to be feared, it should be harnessed and used as the engine that powers your advisory practice. Looking outside of our industry, AI can already diagnose certain types of cancers faster and more accurately than doctors. But no one wants the computer telling them that they have cancer and what their outcome will be.

Just like doctors, our industry can leverage AI to have the information at our fingertips. AI will allow us to provide solutions to our clients much faster than if we had to compile, calculate and analyze the data manually. Utilizing AI will force us as professionals to shift from someone who simply enters and calculates numbers to someone who understands and empowers those numbers.

Are you going to let AI consume your business, or are you willing to take a leap of faith and become an AI Powered Human?

Stay tuned for follow up blogs on how to add AI into your practice to become a better advisor.