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With AI initiatives the talk of the Xerocon Sydney 2023 event, here we share insights from Xerocon favourite, Trent McLaren, whose workshops drew crowds of hundreds.
Surrounded by hundreds of avid Xerocon fans, popular tech advocate and Director of SaaS consultancy Journey Trent McLaren offers some thought-provoking insights into what our bookkeeping industry can expect from AI.
A hot topic with the recent Chat GPT explosion, Trent explains the industry is well primed for significant change, with Aussie innovators leading that change.
“A great example of Aussie innovators includes Australian audit and workflow management software, XBert, which uses in-built AI technology that intuitively spots where improvements that can be made to bookkeeping data.
“They’re making some significant headway to improve auditing, which is taking an activity that can take months before you spot problems down to daily checks that reveal problems in real-time,” said Trent.
Trent presented at Xerocon alongside XBert Founder Aaron Wittman, and the pair delved into aspects of AI that sought to alleviate fears. Trent prompted open discussion with optimistic predictions about how much AI will change the landscape for our industry.
“AI is still quite a buzzword and is in the early stages of what it can do and how it can work,” said Trent.
“The potential of what it can do is an exciting one, though it’s hard to tell when the big burst of innovation will change things forever,” said Trent.
Our own Director, Peter Thorp, who also hosted a session at Xerocon, agrees that this is a time of change that is only making strategic bookkeeping advice even more worthwhile.
“Contextual understanding is an even more valuable skill that bookkeepers offer,” said Peter. “Repetitive calculations and tasks are being removed by automation, and AI brings to the forefront the value of bookkeepers as safeguards for the technology.”
Peter emphasises the importance of checking the data fed into these tools to avoid breaches and embrace the efficiencies to be found.
“By embracing AI and adopting responsible practices, bookkeepers can unlock new levels of efficiency, accuracy, and client service,” said Peter.
“It’s already happening, and it’ll be interesting to see how much the technology has advanced in the next 12 months, with many saying we’re on the edge of something very big.”
To keep in touch with all major announcements and trends insights around AI and its value to bookkeepers, become an ABN member.
