At the time of writing this article, cognitive learning or artificial intelligence (AI) seems far in the distance for many accounting and tax professionals.
But the truth is it's here already.
Many people are waiting to tune into a global announcement that the Accounting industry has officially been disrupted.
As if it's going to be a new regulation or ruling appearing in your inbox by a governing body.
The truth is..
it's already happening all around you.
Literally every where you look there is another SaaS company pushing their latest product that can automate this and eliminate that.
Think of AI as software performing tasks previously thought to require human intelligence. It's not just one tool but LOTS of them.
It can be best applied in cases where there are standard and often recurring questions that need to be answered or paired with significant data sets which will hold the correct answers.
As testing continues and further developments are made, these software tools are returning more concrete answers that are confirmed correct once cross checked.
However, there are many instances where answers are incomplete and contain errors from missing data, particularly with predictions and forecasting different scenarios.
In short, AI is not to be viewed as a replacement for human expertise but more of an enhancement.
As a result, accounting & tax professionals can (& will) enjoy enhanced:
- human processes & workflows
- data analysis
- collaboration with clients
- collaboration with other service professionals
- productivity & presentation
And LOTS more....
With that said, you should not be viewing machine learning as mysterious or a threat to our industry but instead embracing it as a huge stepping stone!
So how do you find your magic in the accounting industry?
By addressing the human needs of your client and using technology to leverage your human expertise!
Inside our program, we solely focus on driving meaning innovation using the best technical horsepower on the market available for the accounting industry.
In addition to dialing in a fully automated client attraction system custom built for your business, we test the latest software for service delivery, enabling more efficient workflows, better presentation of results to the client and higher fees for delivering more value.
On the tax side, we provide 60+ tax saving initiatives and leverage technology to swiftly execute for your client - and allow you get paid a lot quicker!
To learn more about how we can help your accounting or tax firm and filter all the noise out there through the lens of an expert...
Book a call here to speak with myself or someone from my team.