Thanks to XcelLabs for sharing this article.
AI is not a passing trend or stealer of jobs. Quite the opposite. It’s the not-so-secret sauce to help amplify efficiency. To reduce the stressors that come with time-draining, manual tasks. To elevate a firm and its people.
Even so, accountants continue to struggle with trust where AI is concerned. Is the data secure? Is data integrity ensured? How much do we really know about this AI character?
While these are valid questions, accountants cannot put AI off any longer. It’s time to cut through the noise and get to what AI really means, its value and best practices that will help elevate the accountant role.
What Does AI Really Mean?
It’s important to start with a solid understanding of AI, and the easiest way to do that is to highlight what it is not.
It’s not ChatGPT. Or Copilot. Or Gemini.
It’s not a standalone feature inside a spreadsheet or platform.
It’s also not new.
AI has been around for years, working in the background to elevate workflow efficiency. Think about invoice scanning and OCR. That’s AI at work. Any platform that supports predictive analytics is also AI at work. The difference today is that AI has moved to the forefront. It’s more visible and more “human” than ever before.
And these are all good things! It means that AI is progressively evolving to make our jobs easier. It not only removes manual, repetitive tasks that suck up valuable time, but also supports CFO and teams with predictive analysis, forecasting and a reliable brainstorming partner.
AI should be thought of as a tool that elevates humans, not eliminates them. It’s here to compliment the work of CFOs and team members. However, before that can happen, firms must move past the noise and apprehension and really dig in.
Rest assured that the real wins will go to those who get curious and find new and better ways to work with AI as a dedicated partner, not an afterthought.
Start With Clean Data
AI can’t work miracles. If you start by feeding it garbage, you’ll get garbage back.
CFOs often cling to the fear that: “AI can’t be trusted to deliver accurate results.” To be clear, this is not an AI-only issue; it’s a data issue. If you don’t start with clean data, how can you expect AI to do its job?
Accountants are no strangers to chasing down the latest Excel version or cleaning up numbers that changed three meetings ago. You can’t be expected to output accurate forecasting based on outdated and/or bad data, and neither can AI. It requires current, structured, reliable data from the start…just like humans do.
Also consider how much more AI can do in terms of predictions and insights when you add clean unstructured data into the mix. AI takes emails, PDFs and meeting transcripts, analyzes each communication and provides suggestions for improvement. This combined with clean structured data offers a world of possibilities to better support clients and ensure accurate financials.
Lose the App Chaos with Unified Systems
Your AI strategy must also include a unified technology ecosystem. Too many organizations deal with “app overload” where disparate solutions are used across departments and roles. This makes connecting the dots organization wide virtually impossible while also causing more headaches and late nights than necessary.
CFOs need to adopt a “great re-bundling” mindset. This means ditching dozens of apps and moving data into a single, centralized space. For example, there are platforms that exist to aggregate data for better forecasting, easier cash flow planning and less data-wrangling drama.
It’s about getting to a place where all your data lives in the same zip code, offering instant access and accurate output. This supports CFOs in not just staying on top of work but getting in front of it.
AI is Already Delivering
Whether you realize it or not, AI is already doing a fair amount of work. It’s flagging weird transactions, recommending invoice codes and automating annoyingly repetitive tasks. So let’s give it the credit it deserves, while also understanding that there’s so much more it can do for you.
Advisory is the big ticket. As automation takes over busywork, it frees finance pros to focus on advisory work like solving bigger challenges and offering bolder solutions. Firms are starting to offer services around “data readiness” and even auditing AI systems themselves. (And please, if you’re still billing by the hour, maybe it’s time to think about outcome-based pricing. AI changes how you deliver, so why not change how you charge?)
AI has the power to serve as your dedicated co-pilot, supporting you with recommendations based on the data you feed into it. It doesn’t replace your judgment and expertise, but it will challenge your thinking, help you poke holes in your strategy and bring up things you never considered.
The crucial thing to remember is that you can’t expect AI to be perfect. It’s like training a new hire. Use professional skepticism, check its work and lean into its support.
Success Means Being a Safe, Responsible and Human
Bringing AI into your work isn’t just another tech rollout. It requires a strategy, complete with goals, good governance and a culture that values learning and experimentation.
It’s best to start small. Pick a business problem, try out an AI tool and see where it takes you. Don’t expect one class or webinar to make you an expert. Being hands-on, iterating and, yes, making mistakes is how everyone gets better. Training is critical but so is creating a space where people feel safe to ask “dumb” questions and suggest new ideas.
If you’re ready to get on the AI train and do it right, start with a few tips:
Don’t boil the ocean. Begin with one real business problem and use AI to tackle it.
Get your data in order. A little time spent cleaning now saves a lot of AI headaches later.
Involve the whole team. Be transparent about what’s changing and set clear policies about what’s cool (and what’s not) with data.
Encourage curiosity and play. The more you interact with AI the more trust builds.
Always check AI’s work. You have to do this before sharing or acting on its advice. Like humans, it’s not perfect.
AI isn’t something to fear. It should be explored, tested and strategically implemented. It’s also something that can elevate your role beyond comprehension. So, get curious, experiment and see where fully embracing AI can take you.
