Why Cost Accounting is the Wrong Way to Value Artificial Intelligence
AI can prepare a tax return. But is tax prep the bottleneck in your firm? If AI speeds up tax prep while the partner review queue moves at the same pace, your throughput remains the same. That’s the problem with applying cost accounting to the ROI of artificial intelligence.
PwC vs. EY: The Big Four Make Opposing Bets on AI
Anthropic’s AI Exposure Index actually tells a more nuanced story than the headlines suggest. Yes, business and finance has near-ceiling theoretical exposure. But the observed exposure — what's actually being automated today — is still low. There's a gap.
“Go Clean Your Room” and Other Ways to Get a Straight Answer from AI
Accounting systems need to be deterministic. There is no "probably correct" in a general ledger. You can't have a system running autonomous best-guess operations against books that a client is going to stake business decisions on — and that you're staking your reputation on.
When AI Can Prepare a Partnership Return, What Happens to the Business Model?
For decades, the complexity of business tax returns functioned as a moat around compliance revenue. If AI can cross that moat, even partially, we need to rethink some assumptions.
How AI is transforming and disrupting audit
In my latest podcast episode, I had the pleasure of speaking with Rob Valdez about the impact of artificial intelligence and generative chatbots, like ChatGPT, on the audit profession. We delve into how these technologies are not just automating routine tasks but are also revolutionizing how we train staff, improve quality, and save time on substantive testing.
AI Doesn’t Need To Be 100% Accurate In Accounting
During a recent conference presentation on AI and accounting, I discussed both the promise and limitations of artificial intelligence. One audience member asked a thoughtful question - how do we ensure the accuracy of AI?
How Artificial Intelligence Will Save Accounting
Watch the recording of my presentation at ExpensiCon about how generative AI will transform the accounting profession for the better.
New Survey Finds Accounting Teams Embrace Technology to Solve Hiring Challenges
Accountants are again taking a leadership role in their organizations with the adoption of cloud applications. According to FloQast’s new survey of accounting and finance professionals, 85 percent of respondents are facing increased challenges in hiring and retaining talent, and technology adoption is a key strategy in attracting and retaining talent.