Real world ready | Next Gen accounting
No substitute for human touch
Despite the near-constant talk about AI and its growing role in accounting and the workplace, there will always be demand for personal interactions
Words Jessica Bown
From blockchain to cloud computing, technological advances have revolutionised the accounting profession over recent years.
As an accountant in 2025, many basic tasks can now be done in minutes rather than hours, a development that is helping to push productivity to new heights at forward-thinking firms.
But while the time-saving benefits of such programmes cannot be denied, their increasing adoption within the sector has prompted fears of technology such as artificial intelligence (AI) taking over and rendering human accountants null and void in years to come.
Fortunately, even with automated and AI-powered systems becoming smarter and more powerful, there is no danger of tech replacing humans in accounting any time soon.
One of the main reasons is that we can’t teach technology to respond with emotional intelligence (EQ) or a moral conscience.
Similarly, we can’t teach it to communicate with colleagues and clients in an empathetic way.
Even the most sophisticated programmes are only as good as the data humans give them to work on.
In fact, there is an argument that the insights provided by AI, for example, increase the need for considered human judgement in the accounting field.
IQ vs EQ
There is no doubt that AI systems have high IQs. It’s what allows them to excel at tasks such as data analysis and pattern recognition.
They don’t have any EQ, though, and that means they are incapable of making ethical decisions or applying abstract thinking to find a solution to a problem.
It’s also why only humans with a mix of both EQ and IQ can handle accounting tasks that require interpersonal interactions, emotional understanding, goal setting and innovative or creative thinking.
Amazon’s sexist recruitment programme
Like many large companies, Amazon is on a constant recruitment drive to find the best candidates to fill openings across its organisation.
In 2014, it tried to streamline this process using AI recruitment software designed to screen applications for suitable candidates.
Unfortunately, the software was built using data from 10 years of CVs sent to Amazon. Because most of the CVs sent in during that time came from men, it automatically downgraded applications from female candidates.
The company tried to edit the software to make it gender-neutral but was unable to guarantee that it wouldn’t continue to discriminate against certain candidates, so decided to stop using it as a result.
Three AI risk management rules for accountants
There are three main areas in which risk management and testing involving human accountants is integral to the success of AI systems in a modern finance department or accounting firm.
1
Data management
The quality, accuracy and ethical usage of the data being used.
2
Administrative architecture
The building of the systems and the monitoring of potential biases within them.
3
Business execution
Actioning recommendations based on AI insights and ensuring those insights are used in accordance with regulations and company strategy.
People and machines working in harmony
AI and other accounting technologies can be a massive help when it comes to completing certain everyday tasks.
Areas of accounting in which today’s technology can handle processes almost single-handedly include:
- procurement – AI makes it easy to track price changes among a wide range of suppliers, so you can be sure you’re always getting a good deal.
- expense management – the right accounting software will check receipts and review expenses, making it much easier to keep spending in check.
There are also lots of accounting tasks that machines can help with, despite the ongoing requirement for a human touch.
Auditors, for example, can make use of machine learning to pinpoint exceptions that need further investigation on their part.
But machines can’t cut it in all areas of accountancy, including advisory services. When it comes to client relationships, few people would rather deal with a machine than a human being.
TOP TIPS
Ways to future-proof your career
While human intervention remains crucial to the effective use of technology in accounting, there is no doubt that the growing capabilities of these new programmes and systems are changing the way finance professionals work.
That means the skills you need to succeed in the accounting profession are changing, too.
Future accountants will undoubtedly need to be tech-savvy, as well as technically proficient.
But although an understanding of data analytics, for example, will stand you in good stead when applying for accounting jobs, it is also worth concentrating on honing soft skills such as communicating and strategic thinking, as these are what differentiates men and women from machines.
In the fast-moving world of finance, a greater reliance on ever-changing technologies will also make a commitment to continuing professional development (CPD) and lifelong learning even more important for accountants keen to stay at the top of their game.
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No substitute for human touch
Despite the near-constant talk about AI and its growing role in accounting and the workplace, there will always be demand for personal interactions
Words Jessica Bown