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Showing posts with the label Artificial Intelligence

How Fintech will Transform the Role of Accountants

The conventional image of the stable, vigilant accountant is set for an unexpected defeat. New technology, new software, and new rules mean the role of the accountant is prepared for a revamp. Artificial intelligence, automation, cloud accounting, Open Banking, creating Tax Digital all promise to rework the accountancy and consultatory profession, and, by extension, produce vast new opportunities for the companies they serve. So, what’s driving this change? What’s the importance for accountants? And what’s going to be impacted for businesses? Key drivers of changeFinancial data are flowing quicker and freer than ever. Bigger access to information, automation of processes and addition of software and tools is putting more influence at the fingertips of key decision makers inside businesses, allowing for more responsive and better-informed decisions. Artificial intelligence and machine learning in software and apps promise to unearth faraway bigger insights than manual analysi...