The Robot and I: AI isn't coming for your accounting job, it's joining your team

If I were going to lose my job to AI, I would have at least thought it would be on a battlefield.

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I'd be suited up in some crazy attire straight out of Mad Max. Ultimately, I make my final stand against an array of virtual chatbots and advanced computer algorithms masquerading as AI.

When I think of AI, I'm reminded of the eternal words of Arnold Schwarzenegger: "I'll be back." Sometimes, I think about those menacing, red-eyed killer robots in the movie I, Robot - Is that what will replace me at my accounting job?

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I understand the fear of being replaced, especially as an accountant.

Our jobs are wrapped up in tedious number crunching, reconciliations, and data verification. If I were AI, I would be salivating at the opportunity to maximize efficiency and cut out the so-called middleman. Understanding our roles as accounting professionals helps us explore the real impact of AI on our jobs. More importantly, we need to delve beyond the numbers.

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On the surface, accounting looks like an endless minefield of:

• Repetitive data entry
• Reconciliations
• A healthy dose of tick-box exercises

Behind every journal entry, there is a nuanced understanding of:

• Business strategy
• Tax implications
• Regulatory and legal frameworks.

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Yes, AI can analyse massive data sets, spot discrepancies, and predict future trends, but can it sit across the table and sense a client's anxiety about an audit, or offer a listening ear when they're going through financial hardship? Not yet.

The alleged misuse of AI has made headlines and landed some organisations in the dog box.

I asked ChatGPT, and this is what she had to say about her ability to experience empathy:

I can process information, analyse data, and help with technical tasks — but I don't feel emotions, and I can't truly understand the subtle cues behind a client's tone or the emotional weight of their concerns. That human connection is where your accountant shines, not me.

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The "Garbage In, Garbage Out" debate.

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Despite AI's phenomenal data-crunching capabilities, it is, after all, only as good as the information it's fed. A machine that can spot trends or identify discrepancies in large data sets could be good. But if those numbers are skewed or incomplete, AI will generate just as misleading conclusions.

That is where our expertise as professional accountants becomes invaluable. We don't just feed data into a system and pray for a miracle; we know how to:

• Clean up
• Verify
• And interpret the data

Ensuring that the outputs are as accurate and meaningful as possible.

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Our ability to combine numbers with insight lies in the real value as accounting professionals. We can guide businesses through financial challenges, adapt to changing regulations, and make decisions that align with a company's strategic goals.

So, will AI take my job? Not quite.

Will it replace the repetitive and time-consuming tasks? Definitely. But AI will never be able to replace the

• Judgment
• Critical thinking
• Personalized service that we offer as accounting professionals.
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Rather than seeing AI as a threat, we should embrace it for what it is—something that can enhance our capabilities and streamline our workflow.

The future of accounting will not be about AI replacing accountants but about accountants leveraging AI to deliver even greater value to their clients. The key to surviving and thriving in this new landscape is adaptability and continuous learning.

Maybe after a couple of iterations of AI in the future, when they are literal human-AI cyborgs walking around, will I surrender my designation as a chartered accountant for my Mad Max persona.

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However, for now, I do need to adapt and stay ahead of the curve. After all, the future is coming, and we need to be ready to work alongside it.

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