Recently, at the AI & Automation Summit, key industry voices shared insights on the most impactful AI and automation trends to watch in the near future.
In this article, we’ll cover the main themes and practical takeaways from the summit, as discussed by expert panelists Aaron Wittman, James Rose, and Lielette Calleja.
Automating Repetitive Tasks to Streamline Workflows
One of the main benefits of automation in accounting is the ability to take over repetitive, time-intensive tasks that consume significant resources. With tools like Content Snare, accountants can streamline client data collection, document handling, and routine communications—reducing manual errors and speeding up workflows.
As Aaron Wittman from XBert noted, AI is empowering firms to spend less time on repetitive tasks and more time on high-value client interactions:
"By automating routine tasks, firms can focus on value opportunities within their business and reduce time on the tasks that aren’t adding value."
This shift illustrates the power of automation: it’s not just about saving time but also improving client satisfaction by increasing focus on quality service delivery. Similarly, tools like FYI are automating document workflows, allowing accountants to turn around client requests faster and with fewer errors.
The Growing Role of AI in Decision-Making
While automation handles repetitive tasks, AI enhances decision-making by analysing complex data to uncover insights and trends. As Aaron Wittman pointed out, 2024 will be the year of “AI assistants and agents,” which help firms interpret data and make more informed, strategic decisions.
Lielette Calleja from Business Depot also discussed how AI helps firms move beyond traditional accounting by supporting them in an advisory role. AI tools can synthesise vast amounts of data, which allows accountants to provide data-driven insights and recommendations to their clients.
For instance, Content Snare’s platform leverages AI to generate quick responses based on specific prompts, enhancing client onboarding and compliance workflows. Lielette is a thought leader in accounting automation, and emphasises the need for this shift in mindset:
“We all need to transform our minds and move beyond the traditional accounting role. AI allows us to provide strategic value and go beyond compliance and bookkeeping.”
Data Security: Safeguarding Client Information
With the increasing reliance on AI and automation, data security remains a major concern for firms handling sensitive client information. Several panelists addressed this, noting that firms must be cautious about what information they share with AI tools and ensure that their tools align with privacy requirements.
As Content Snare advised, firms should use secure tools that won’t use data to train third-party models and can offer strong encryption and data protection features:
"It's crucial to be careful with what data you’re putting into AI tools. Always consider privacy and only share data you’d be comfortable sharing publicly."
Future-Proofing Skills in a Rapidly Changing Landscape
As AI and automation become essential components of the accounting industry, future-proofing skills has never been more critical. Prompt engineering—a skill that allows users to extract the best insights from AI systems—is quickly becoming valuable.
Firms looking to enhance their team’s capabilities might consider training staff in prompt engineering, empowering them to use AI tools effectively to solve complex problems for clients. Aaron Wittman from XBert highlighted that such skills will not only improve workflows but will also generate new value opportunities for firms:
“Prompt engineering is a skill set that will help accounting and bookkeeping professionals achieve a higher accuracy and better outcomes with AI tools. Mastering this can open new areas of value and efficiency.”
Embracing the Future of AI and Automation
For accountants, the coming months will be pivotal as AI and automation continue to expand their reach. Implementing these tools thoughtfully—while keeping an eye on security and skills development—will enable firms to enhance operational efficiency, deepen client relationships, and unlock new growth potential.