AI has dominated headlines throughout the year, with organizations across various industries experimenting with the technology. While some express concerns about AI’s impact on specific professions, many are embracing its potential for creating more meaningful client interactions and freeing up time for strategic and creative work that cannot be replicated by robots.
Embracing Technology in Accounting
Accountants are among those who are fully embracing AI. In fact, 82% of accountants believe that technology is enhancing client interactions. Furthermore, an impressive 48% plan to invest in AI and automation tools within the next year, according to research.
“Accounting professionals are our most valued partner,” says Jeremy Sulzmann, the Vice President of the Partners Segment Business at Intuit QuickBooks. “Our 2023 event is doubling down on how AI-driven innovations help accountants and the small businesses they serve gain insights to make more informed business decisions. Together, we’re unlocking new ways to power prosperity.”
This significant move towards AI was reflected in this year’s QuickBooks Connect event, where more than 2,500 accounting professionals gathered to explore a range of AI-powered innovations. Intuit’s AI vision took center stage as a driving force behind the company’s focus on solving critical financial challenges for small business owners and the accountants who serve them.
AI-Powered Innovations at QuickBooks Connect
At the QuickBooks Connect event, Intuit showcased several AI-powered highlights designed to serve accountants and their clients. One standout innovation is Intuit Assist for QuickBooks, a generative AI-powered financial assistant. This tool offers automated tasks and workflows, providing accountants with actionable insights and answering financial questions on the spot. By proactively surfacing relevant insights based on a business’s performance and customer behavior, Intuit Assist for QuickBooks complements the expertise of accounting firms, empowering them to deliver even greater value to their clients.
QuickBooks also announced new innovations across the platform to improve efficiency for accountants and small business clients. Some highlights include QuickBooks Ledger, a cost-effective solution for low transactional clients, QuickBooks Online Advanced, which offers scalable and customizable options for growing businesses, QuickBooks Online Payroll, simplifying human capital management, and QuickBooks Online e-commerce Innovations, helping businesses manage inventory across multiple sales channels seamlessly.
Leveraging AI for Accounting Success
Technology is reshaping the accounting industry, and AI is at the forefront of this transformation. By leveraging AI, accountants can enhance their services, increase efficiency, and drive greater benefits for both firms and clients. QuickBooks is leading the way by collaborating with accountants to inform its AI roadmap and deliver a comprehensive ecosystem that saves time and provides confidence in business operations.
The future of accounting lies in embracing AI-driven innovations and harnessing the power of automation. As AI continues to evolve and integrate further into the industry, accountants stand to gain valuable insights and a competitive edge in the ever-changing business landscape.
Dig deeper: Learn more about this year’s announcements from QuickBooks Connect. For more on how the QuickBooks Online platform supports accounting professionals and small businesses, visit QuickBooks.com.
