Let AI takeover and simplify your workload.

In today’s digital age, artificial intelligence (AI) and automation are transforming various industries, including accounting. Many people believe that AI will only take away certain tasks from accountants, rather than entire jobs. However, this article argues that AI has the potential to eliminate a significant number of accounting jobs by automating tasks and allowing employers to consolidate remaining work. While this may seem like a problem, the accounting profession already struggles to fill numerous positions, so handing off tasks to computers could be a relief in some ways.

The article highlights the historical parallel of how early computers were actually people with exceptional math skills who performed complex calculations for businesses. Similarly, in the future, “bookkeepers” and “tax preparers” may be replaced by AI-driven programs. These roles currently take up a considerable amount of accountants’ time, and AI can free them up to become more valuable advisors. However, the true benefit lies in the potential to focus on tasks that accountants find most meaningful.

Workplace researcher Marcus Buckingham suggests that engaged employees enjoy at least 20% of the work they do regularly. If AI can handle the remaining 80% of grunt work, accountants can cherry-pick the tasks they find most interesting and rewarding, potentially boosting engagement and satisfaction levels. The article emphasizes the importance of embracing AI early enough to determine which tasks AI will perform and which tasks accountants will retain, ensuring a balance between human and AI involvement.

In conclusion, AI has the capability to automate a significant portion of daily tasks performed by accountants, potentially reducing the need for as many accountants in the future. However, embracing AI and strategically assigning tasks to AI and humans can lead to increased job satisfaction and engagement among accountants. It is important for accountants to adapt to this technological change and focus on the aspects of their work that provide the most value and fulfillment.