Artificial intelligence set to hit accounting, warns MYOB

MYOB has warned accountants that artificial intelligence (AI) is set to transform the profession, with quality of business advice likely to improve dramatically. Speaking to AccountantsDaily, Simon Raik-Allen, MYOB chief technology officer, said artificial intelligence is currently being deployed widely behind the scenes and will soon start to affect accountants – but in a very positive way. According to Mr Raik-Allen, businesses have significant interaction both with their immediate business environment and with the landscape created by wider economic conditions. For an accountant to give the best advice, they need to get their head around that. “What artificial intelligence has the power to do is to really analyse, gather, filter and start to automate the collection of that data and really provide the accountant with information summarised about the environment,”…

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