In my last post, we talked about why AI (or a robot) will not eliminate the need for human participation within the accounting industry.
Today I want to address my accountant readers. As the personnel with the capabilities that help analyze and improve accounting situations, they will be in high demand and more likely be better paid for their contributions – the transition from historical bookkeeper to strategic and valuable analyst will begin to deepen.
This becomes Reason #3 you will not be replaced by a robot in the future. Despite the brilliance, we still need someone that understands the point, direction, and changes that occur in our business on a day to day basis
In all likelihood, the solution of tomorrow will be using a combination of Knowledge Representation and Reasoning (AI100) and Machine Learning with sparing portions utilizing Search and Planning AI.
Your AI driven accounting solution will be branded and named by your organization (i.e. Watson, IBM) and will be tasked with removing the following physical demands:
- Duplicitous entry
- Communication receipt and delivery
- Closing the books
- Monitoring AP / AR transactions for anomalies and errors
What’s different from the vision we’ve been given is the importance and factor in service to humanity. Context and content are the keys to the human condition – it’s the one place where nothing created has been able match what a human participant offers.
Imagine this. Dharma, your accounting AI, has been hard at work for the last two weeks quietly reviewing, gathering, and preparing all the necessary components for an effective year end close. At about 1pm, right after you finish your salmon, kale, squash salad, Dharma announces from your Apple Watch, “A report has been generated for your review”. You quickly navigate to your email and you see her message waiting for you.
Upon opening it, you are presented two attachments for comparisons. The first shows the actuals, the other the predicted actuals. They are not the same.
Dharma’s message states: “Payment discrepancy found. How would you like to proceed?”