What are the chances of AI dehumanising accountancy services?
There’s no doubt that AI has exploded into the workplace. Since 2000, robots and automation systems have pushed out over 1.7 million manufacturing jobs. In its credit column, though, AI is predicted to create 97 million jobs by 2025.
So how does that translate to your friendly neighbourhood accountant? Are you likely to be facing R2D2 across the desk in the near future?
Well, it’s clear that computers have brought huge new efficiencies and cost savings in many areas. Archaic manual chores such as journal entries, data entry and other repetitive tasks can now be done in a trice by computer programs like QuickBooks – saving you oodles of time and money and dramatically cutting the risk of human error.
Insights into the data
But automation frees up both person-hours and brain space to do more analytical stuff – because, while a computer is more efficient at basic accounting tasks, they’re very poor replacements for human auditors when it comes to analysing and interpreting the data churned out by AI.
The human touch
There is currently no programme for human properties such as experience, instinct, trust, and compassion. A computer has no equivalent of “The Smell Test” – it can’t tell if something is technically correct but doesn’t ‘feel’ right. Nor can it draw on personal and professional experience to help clients solve the idiosyncrasies that every business has.
In short, the relationships that human accountants build up with clients can’t be automated or mechanised. Nor can trust be replicated.
And while AI technology can communicate, it will never have the human concern and compassion that accountants offer when they work with clients.
So while the capabilities of accounting computers and software will continue to evolve and develop new benefits, we’re afraid that – joking aside – your auditor is as close to a robot as you’re going to get.
How we can support you
Looking for an auditor for your business? Complete the contact form and our specialists will be in touch.