AI will disrupt the finance industry, there's no doubt about it. But according to Andrew Paton-Smith, creator of www.Jazoodle.com, the accountancy and business advisory profession in particular will go through an evolutionary process.
The role of an accountant or business advisor is fundamentally one of an expert whom collates, examines, and presents data about a business and its environment. Then his or her skills are used to recommend and help clients implement strategies that take best advantage of available data sets, insights, skills, experiences and knowledge.
The accountant is indeed an intelligent body when looked at in this context, however, artificial intelligence (AI) is being discussed a huge amount – and has been for a while. So what is AI, and how will it impact the accountancy and business advisory profession in the future?