Artificial Intelligence (AI) is a buzz word that appears in almost every new business article. For
many small business owners, the idea of using AI in their business seems unrealistic.
A quick definition of AI would be a process or task that would usually require human
intelligence. Mostly, it is an action performed by a computer or app that used to be done by a
human. We have seen AI creep into our lives in uncountable ways. AI is impacting us
exponentially from education and finance to health and science. AI is no longer reserved for
large organizations with exorbitant research and development budgets. It is available to
everyone. If you own a smartphone, it is a safe bet you use AI every day.
If you run a business, you should use AI every day. Your bookkeeping and admin work should
be the first part of your business you turn over to AI. As an accountant, I may seem crazy to
proclaim that my service can be done by AI, but burying my head in the sand and hoping my
business model stays relevant is crazier.
Like in any industry, we need to adjust and use technology to reduce costs, increase service
quality, and stay competitive. From an accounting perspective, the apps available today are
amazing. The apps learn your expense history and can project your future cash flow. Further,
the apps learn what each vendor provides your business and categorizes the expenses for you.
Outside of accounting, there are numerous incredible apps to assist your business with
Artificial intelligence is a readily available way to save money and, more importantly, free you up
to run your business. Take a moment now to look at where you spend a lot of time and see what
AI is available to help you work smarter, not harder. It will pay off. I guarantee it.
An online Chartered accounting, focused on high-quality support for small businesses. I live in the cloud and service my clients that way. It keeps my admin costs low while delivering top-tier support and tools to my clients.