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AI Will Replace Accountants? Not Very Likely

August 6th, 2019

automation likelihood chart

Accounting Today has a graphic illustrating a 2013 prediction from The Economist suggesting that after telemarketers, accountants and auditors are the most likely to be automated. Don't believe it.

Or at least don't believe it if you do more than merely collect and process data. The days of those kind of accountants may, indeed be numbered. For those accountants and bookkeepers who analyze the numbers, advising business owners on how to achieve goals and improve performance. the future is bright, says Chris Wicker, head of partner sales at Xero Americas.

In his Accounting Today article, Wicker insists, "Artificial intelligence and machine learning aren’t the next big thing — people are."

"By making sense of financial data and providing rich insights to their clients, accountants and bookkeepers are able to provide the solutions only a human can, and they remain one of the most trusted sources of business advice. In fact, despite advances in AI and automated accounting technology, the vast majority of small-business owners will continue to rely on the human advice of their accountant."

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