24 - Charting the Future of AI in Accounting with Darren Glanville, Ed Kless, Donny Shimamoto, and Shannon Weinstein

I'm joined by a panel of experts to dive into the pressing issues accountants face with the integration of artificial intelligence (AI) in our profession. Together, we explore why AI is such a crucial concern for accountants and emphasize that it should be viewed as a tool in our tool belt, rather than a static concept.

During our discussion, we debate the possibility of AI taking over compliance tasks in audits and the urgent need for upskilling within the accounting profession to keep up with the rapid advancements in AI technology. As we examine the dynamics of AI adoption, we contemplate whether it will be primarily driven by customer demand or if it will actively shape the accounting profession itself. Our conversation also dives into the ethical implications of AI, addressing the significant ethical issues surrounding its deployment in our field.

Looking ahead, we speculate on the future of AI over the next five to ten years and its potential impact on the accounting profession. We discuss how value is being redefined beyond traditional output metrics, urging fellow accountants to adapt to this evolving paradigm.

What you'll hear in this episode:

[3:05] Why is AI such a pressing issue for accountants?

[8:10] Technology is just a tool, it's part of our tool belt.

[10:45] ChatGPT doesn't care what you call it.

[16:00] Is AI going to take over compliance tasks like audit in the future?

[22:45] We are already behind our education system, and our funnel of accounting majors is already very behind in terms of the skill set we need in the accounting profession.

[25:40] The need for upskilling in tax advisory.

[31:00] Is this going to be driven by the customer, or is it going to drive the profession?

[34:20] Should we start using chatbots to summarize articles, emails, etc.?

[44:35] What's the biggest ethical issue you see with AI?

[47:35] Where is this going over the next five to ten years?

[53:35] Redefining value outside of output and how it will evolve.

Connect with Darren on Twitter @dazglanville and learn more with him on the Fathom website: https://blog.fathomhq.com/author/darren-glanville

Learn more from Ed on his website https://www.edkless.com/ or connect with him on LinkedIn @Ed Kless

Connect with Donny on LinkedIn @Donny Shimamoto and learn more about Intraprise TechKnowlogies on their website https://www.intraprise.us/

Learn more about Shannon's services on her website https://www.fitnancialsolutions.com/accounting and connect with her on Instagram @shannonkweinstein

Connect with Jackie on Instagram @jackiemCPA

Check out more of Jackie’s work at https://www.jackiemeyercpa.com/