AI to bring big changes to CPA firms

Featuring Donny Shimamoto, CPA/CITP, CGMA, founder and managing director of IntrapriseTechKnowlogies LLC


Transcript:

A few of the really big changes that we’re going to see coming along is really that we have got access to a lot more data and that data can be then used to fuel artificial intelligence, which can then be used to automate a lot of what we would traditionally think of as compliance work. So when we look at these two changes that are coming through, that is going to affect the work that we are then doing as CPAs to actually get rid of a lot of these menial things that actually none of us like to do, or at least I like to think none of us like to do, and really shift into more of this advisory role. I know everyone’s been saying like, hey, you got to do this advisory stuff, and we’ve been saying it for years, but now it’s really true. Artificial intelligence is going to come in and automate a lot of what we’re trying to do in terms of analysis, in terms of working with the data, and now we have to focus more on the interpretation of that data or what are the insights that we can pull from the analysis that was performed to then drive more meaningful decision-making and action by those that we’re serving, whether they are employers or our clients.

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