How artificial intelligence is set to transform the accounting industry

Artificial intelligence has already begun to impact on our everyday lives and the technological revolution we are witnessing is set to transform the accounting profession – and the relationship between accountants and SMEs. That changing relationship will benefit accountants and businesses, heralding new ways of working and putting our service and knowledge at the heart of business development and strategy for the good of SMEs and the wider economy. There is no doubt that we are on a journey that is going in only one direction. Sophisticated accounting software and systems will change our role as artificial intelligence (AI), smart machine learning and increased automation takes over traditional accountancy roles such as bookkeeping and data entry. And the direction we are heading is already being well signposted.