Technology is evolving at a breakneck pace, and artificial intelligence and automation offer unprecedented opportunities for improving efficiency, accuracy and client service in accounting. However, the conversation usually frames these tools as replacements for accountants and advisors. That perception is far from reality.
Instead, the impact of AI and automation lies in augmenting human capabilities, freeing skilled professionals from tedious, repetitive tasks so they can focus on higher-value work. This shift allows firms to realign their workforce toward client engagement, problem-solving and strategy.
We hear fears of AI taking over jobs, but the truth is that these technologies are not equipped to replace human judgment, creativity or ethical discernment — elements central to the work of accounting professionals.
AI excels at handling repetitive, well-defined tasks that require speed and precision, which makes it a valuable ally, rather than a competitor. Accountants provide critical insights, tailor financial advice based on specific client needs and guide businesses through complex tax and compliance requirements — skills that can't be automated.
The current applications of AI and automation reflect this divide. For example, AI might assist in drafting blog content or summarizing financial data for advisory engagements. It can't replace the final editorial review, fact-checking or the nuanced adjustments required to meet a client's unique goals. AI can compile and analyze, but humans make the final decisions based on experience, empathy and ethics.
Leveraging automation for repetitive tasks
One benefit of AI and automation is the ability to offload tasks that, frankly, most people would rather not do. Bots excel at performing tedious, repetitive tasks that require consistency but offer little room for strategic thought or innovation.
Here are a few examples:
- Automated data transfers: In many firms, employees manually transfer information from one system to another. With automation, bots can handle data transfers between platforms, reducing mistakes and saving valuable employee hours for more meaningful work.
- Document verification: Bots can routinely check websites for confirmations, perform data validations or manage other duties requiring long hours and repetitive actions. Bots don't need breaks or vacations, so they're ideal for tasks that, while essential, are time-intensive and tedious for humans.
Delegating these tasks to bots frees employees to engage in complex problem-solving, client relationships and strategic planning — activities that add value to the firm and its clients.
A framework for the ethical and practical use of AI
As use cases for AI and automation continue to evolve, firm leaders must aim to adopt a human-centered approach. This framework keeps humans in the loop at critical decision points, using AI as a tool to enhance human productivity, rather than replace it.
For example, AI lacks ethical judgment and moral understanding, which are crucial elements of professional services. Whether deciding on a course of action for tax planning or assessing the broader implications of financial strategies, human input is indispensable.
Also, AI can process massive amounts of data but can't apply creative thinking or adapt insights to nuanced client needs. For example, AI may suggest a standard cash management strategy based on historical data, but only an advisor familiar with the client's unique situation and future goals can tailor the recommendation to fit.
Adopting human-centric AI means using these tools as a means to an end — enhancing the accountant's role, not diminishing it. Human-centered AI supports professionals by handling routine tasks, allowing them to exercise judgment, creativity and empathy where they matter most.
Reimagining roles with technology
To fully harness the potential of AI and automation, we need to look at where these technologies can enhance, rather than replace, accountants' work. Think of automation and AI as tools to elevate professionals by removing obstacles to productivity. When looking for augmentation opportunities, ask questions like:
- Where do we currently use staff to perform rote data entry that we could automate?
- Which processes require multiple system logins and manual inputs?
- How can we use automation to handle mundane tasks?
This mindset is about more than just improving efficiency; it's about improving the employee experience by allowing accountants to focus on more engaging work.
Ultimately, the goal of introducing AI and automation into your firm should be to add value to each role. By automating repetitive tasks and augmenting the work of accountants, you create a more enriching, rewarding environment where employees can focus on high-impact activities that clients truly value.
Consider tasks accountants currently perform that could be handled by automation. Could that time be reallocated to tasks that require human skills — such as interpreting data, building client relationships or guiding clients through complex decisions? By focusing on value-driven technology integration, you can create a more efficient team that's also more satisfied and engaged in their work.
