Let’s be honest: while artificial intelligence (AI) is a powerful tool, it does have some limitations, especially in the accountancy profession.
One of these is that AI just doesn’t understand maths the way humans do.
Certainly, it can crunch numbers and give results pretty well, but it doesn’t truly understand the concepts behind the calculations.
It’s a really fast calculator but it doesn’t quite know why it’s doing what it’s doing.
AI also struggles to understand complex tax regulations and financial laws because it’s essentially a very high-powered probability engine.
It generates outputs based on patterns in the data it has been trained on but doesn’t have the reasoning skills to interpret and apply these rules accurately.
This, of course, is where the expertise of tax advisers and accountants comes into play.
You can handle these complexities with professional judgement and experience, something AI can’t replicate yet.
AI relies heavily on historical data, so when there are changes in regulations or new, unprecedented situations, it might not adapt quickly or accurately.
On the other hand, you have the ability to understand the nuances and make informed decisions based on new information.
In essence, what we’re trying to say is that while AI is great at automating routine, simple tasks, it can’t replace the critical thinking and decision-making that you, the accountant, bring to the table.
The human touch: why people matter more than AI
Accountancy is more than just numbers and calculations – it’s about building relationships and trust with your clients who don’t just want a spreadsheet full of data.
They want advice, support, and reassurance from someone who understands their unique situation and can guide their business decisions.
This is where the human face of accounting matters, and AI takes a back seat.
Take information-gathering platforms, for instance.
These are designed by and for humans and focus on enhancing communication and collaboration among accountancy professionals and their clients.
They help you work more efficiently by making document sharing, project management, and client communication seamless.
Unlike AI-driven solutions, they prioritise human interaction, ensuring that your clients’ specific needs and preferences are met.
While AI can offer some great data-driven insights, it can’t replace the empathy and understanding you bring to the table.
By using tools that enhance your capabilities rather than taking shortcuts through AI, you can deliver better outcomes and keep your clients happy.
Balancing AI with human expertise
AI definitely has the potential to transform accountancy, but it’s important to remember its limitations and the value of human expertise.
Indeed, it’s good at automating repetitive tasks, analysing large datasets, and generating insights based on patterns.
All of which can boost your firm’s capabilities and can certainly benefit your efficiency and productivity.
However, successful accountancy is more than just processing data – it requires critical thinking, professional judgement, and a deep understanding of complex regulations and financial principles – and effortlessly communicating these to clients.
This is where you shine and where information-gathering and document management tools come in.
While we are firmly on the AI bandwagon, we highly recommend you continue to use platforms, like Glasscubes, which prioritise human interaction and expertise, and offer valuable alternatives that complement rather than replace your skills.
Information-gathering, document management and data-handling tools, like Glasscubes, vastly increase the efficiency and efficacy of your client relationships.
Can you keep a secret?
We’re planning on integrating AI into our systems soon!
We’re hoping this will be helpful in reducing some of your mundane, low-skilled workload and give you more time to focus on your client relationships.
Fundamentally, however, Glasscubes does (and always will) prioritise the human aspect of your work and, arguably, that’s the bit that’s most important.
Try Glasscubes now to discover how your client interactions could be improved.
