How AI Will Transform Accounting: A $100B Opportunity Explained

[@travelinggreek]

AI will definitely ease accountants' pressure by handling repetitive tasks that take up a lot of time.

[@t2p5g4]

I wouldn't agree that Reagan Era software is still being used. I've being doing accounting since 1988. Back then spreadsheets didn't even have tabs. You couldn't just download your transactions from the bank and have it automatically reconcile. If there were ETL systems back then they weren't on every user's desktop like Power Query. LLM's are still of great value. I can translate a German Tax return to English, I use it to record transactions from paper bank statements. It was pretty hard to do with OCR software. I can easily generate code if I need to. I can cook up new functions and behaviors in Excel.

[@kornflakesjunkie]

awesome. but please remove these distracting subtitles in the video. the ones we can activate are sufficient.

[@t2p5g4]

I also disagree with the claim that accounting is about numbers. It is about exercising professional judgements to determine how to classify those numbers. Usually it is about the classification of the transactions under both accounting standards and tax law.

[@TheDoubleMvp]

Timely video. Basis AI just announced a Series A today, building AI agents for accountants

[@elliptictree]

Interesting

[@contemarinovillas8332]

Excellent video!

[@theshaneburns]

IRS expense deduction categorization is the most abundant, thoughtless work in accounting.

[@seymorebizz7950]

Literally Automation Anywhere and UiPath exist and already ran this thesis/playbook down to death.... This sounds good, but is utterly missing reality

[@cerebralparasite9238]

Say goodbye to all the back offices in India