Written by AccountingToday (originally published on 3/15/2021)
"Accounting firm leaders have long heard that artificial intelligence is an inevitable part of their distant future — that at some point, partners and employees must learn how to leverage AI to continue serving clients, growing efficiencies, and improving the bottom line.
Whether firm leaders like it or not, that time is now.
The global pandemic has virtualized day-to-day firm operations and has brought down unprecedented economic pressures on both firms and clients, the ripple effect of which is two-fold:
- While many previous AI solutions were abstract, there are now more practical AI solutions being crafted in the crucible of COVID-19 and honed to solve concrete problems.
- If firms are to unlock the productivity and profitability needed to survive in this post-COVID-19 economy, these new, practical AI solutions are operationally necessary.
Put more bluntly, inaction on AI was once a permissible approach. Now it’s an existential threat."
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