With the accounting world struggling with a staffing shortage, artificial intelligence, or AI, will likely make inroads among more routine tasks, particularly in tax and audit. But before implementing this new technology, it's important to consider where your inefficiencies exist and how this technology can assist.
The question that seems to come to everyone’s mind when thinking about artificial intelligence (AI) is whether AI is going to replace their job? With regard to public accounting, the answer is probably no. However, this may not be for the reason you might think. The industry has been struggling with a staffing shortage, causing more routine work to filter up to be done by more experienced employees. While AI might not be coming for a senior’s or a manager’s job, it may take on some of the responsibilities that had been performed by staff, who are increasingly hard to find in quantity.
Elizabeth M. Carroll, Director, Research & Development, outlines how AI can improve and grow tasks performed by accounting staff.