With all the CHATter about 'AI' we wanted to let you know what your peers have been saying.
- “The ATO will use this opportunity to finally remove the need for Individual Tax Returns”
- “The Computer turned up and we all stood around it wondering what will be left for us to do in the future”
- “Bookkeeping will disappear and so will a lot of the simple work”
- “We see this an opportunity to speed up work and get on with the real work”
- “Maybe this will help us with our staffing problems”
…and the list goes on.
Well, we have seen and heard the fears, excitement and watched the souls that ignore because they don’t have the time to even care but get on with what’s at hand for many decades now.
Change is a constant and is what creates revenue. I note, since taking over from my father, Dip Jadeja (almost 12 years ago), I’ve watched Accountants sweat a myriad of concerns; Going Paperless, Outsourcing, Offshoring, Moving to the Cloud – and look at us now. We’re still here and stronger for it.
The likes of ChatGPT are amazing and intoxicating (not to mention, fun!) but my advice to everyone is to remember the main component of our profession: we are in the ‘relationship (service) business’. We solve our clients’ problems through solutions and, importantly, wisdom. Most firms have been using some form of statistical model-informed automation for at least a decade. The latest AI hype cycle will unearth opportunity yet remains best exploited via tangible solutions.
Sure, embrace the change, because we all end up doing it anyway. Both the naysayers and the ‘blue sky’ dreamers will always catch your ear at the right time or the wrong time. Be sure to investigate, stay educated, watch out for the noise yet get amongst it.
BUT, if you’re temped to imagine that emerging AI solutions will give you an excuse to put your clients at arms length, avoiding the bread-and-butter of ‘face to face’ meetings or regularly checking in via a phone call, rethink that strategy.
Gosh it’s an exciting Industry to be in! Please email us your thoughts and discoveries around AI so we can add it to our list.
Also, If you’d like to talk about what’s happening in the market out there or anything else – let’s talk.
Magnus Yoshikawa
E: magnus@jadejapartners.com
M: 0408885944
