It's no longer just about automation; the conversations have evolved to exploring how AI can enhance advisory roles and improve decision-making.

The first gotcha: Poor data quality · The second gotcha: Understand processes · The third gotcha: leadership buy-in

Tech vendors can learn from CPAs by focusing on user-centric design, robust security, and continuous improvement in their products and services, as CPAs are highly attuned to these needs and have a strong understanding of complex data and processes…

Accounting firms can learn from tech vendors' talent management strategies by focusing on automation, digital-first approaches, and upskilling/reskilling initiatives to attract and retain talent, especially in a competitive market. 

The new drudgery will likely revolve around managing, monitoring, and ensuring the effectiveness and fairness of AI systems

Firms can learn from tech vendors by embracing innovation, focusing on customer needs, prioritizing agility and adaptability, and leveraging technology to improve operations and decision-making. 

The AI revolution is ushering in a capacity revolution by enabling organizations to rethink how they manage resources, skills, and talent, leading to greater efficiency and productivity. 

In 2024, AI will let accountants automate many repetitive and mundane tasks, allowing them to focus more on specialized and advisory services for their clients.

The biggest misconception about AI and the accounting industry is that it will make human accountants obsolete. AI cannot replace human judgment ...