As the introduction of AI reaches most industries, some people have felt the effect at a faster pace than others. One of the most notable professions affected by AI is accounting. AI-powered automation accounting software has become part of standard operating procedure for most organizations, which affects you as an accounting professional at every turn. This evolution has understandably stirred up a lot of chatter and has left many of you wondering, “What is my role in this new world? Will accountants become obsolete? How do I stay relevant?” This article is written expressly for you. I encourage you to take a deep breath, lean back, and let these words sink in.
You are NOT obsolete.
First things first, it is important to recognize the positive impact of AI on accounting. It’s not all doom and gloom. In fact, let’s look at how AI-powered accounting software has simplified boring and mundane tasks such as data entry, and how easily you can accurately tackle the complexities that can come with invoice classification and bank reconciliation. This doesn’t mean that you or your skills are obsolete. Conversely, the advantages of human accountants have never been so clear. Machines can process numbers, but they can’t penetrate intricate customer relationships, understand complex economics, or make high-level strategic decisions. These skills are inherently human. Simply put, you cannot be replaced by this machine…no matter how quickly it scans masses of data.
However, your concerns are completely understandable, as it is also true that AI has revolutionized the accounting world and you are in fact experiencing a seismic shift. So, how do you stay relevant? Remember working in spreadsheets? Well, about a decade ago, accountants just like you, were forced to embrace the Excel revolution. Now we are in the next generation, the baton has been passed, and it’s your turn to embrace the power of AI. By learning how to work with AI-powered accounting software, you can lead the charge, harness the immense power of these platforms, and take advantage of the tool that will increase your productivity ten-fold while tightening up clients’ or interdepartmental relationships by providing them with deeper more valuable insights.
Upskilling with AI - Noteworthy Resume Builders.
We’ve addressed how AI will take on mundane responsibilities on your behalf, but how do you ensure your indispensability? Upskilling is the name of the game. Use some of the extra time AI has given back and dive into training classes, webinars, and workshops exploring the latest in AI-powered platform integrations. Immerse yourself in the software. Learn how to use the system’s powerful tools to build customized reports, evaluate insights, or elicit useful responses from generative AI functionality. Understanding how to give the right commands to an AI program is a skill…it’s an actual job. This may sound technical, but remember – it’s really all in a day’s work, the same way mastering Excel was once upon a time.
The exciting part here is that new job opportunities are emerging in the accounting industry because of AI. Have you ever heard of an AI Accounting Strategist? Or a Financial Data Analyst specializing in AI interpretations? OK, so you haven’t yet, but these are conceptualized future roles in the accounting and finance world, currently emerging as courses in universities like the University of California, Berkeley, and Northwestern’s prestigious Kellogg School of Management. Consider taking classes or reading up on ways to hone your interpretative skills like statistical analysis, probability, deductive reasoning, and storytelling ability. These are just ideas to show you how you could be the pioneer of a new role that marries statistical skills with AI insights.
The Human Mind is Irreplaceable
Finally, let’s debunk the myth: AI is not replacing accountants. Instead, AI-powered automation accounting software is paving the way for accountants like you to step into more advisory strategic roles. AI-driven platforms like Docyt are spearheading this shift.
Essentially, the heart and soul of the accounting profession will always be its people. AI is just a powerful tool in the toolkit. So, whether you want to dive into AI-powered platform integrations or explore new roles created for this technology, the future is bright. Embrace the change, upskill, and remember: the accounting world, even in its AI-driven automated form, still needs you.