'AI only a threat to firms which renounce it'

Artificial intelligence will never usurp accountants, although firms that fail to embrace the technology have the most to fear, according to the marketing leader for accounting and advisory at Intuit QuickBooks, Damien Greathead. "I don't think it's going to replace accountants," Mr Greathead said on the latest Accountants Daily podcast. "I think it's going to replace those accounting firms, bookkeeping firms, that don't embrace it, that don't recognise that artificial intelligence can do certain tasks very efficiently and very effectively." Firms that adopted the technology would have more time to spend on client relationships because "accountants are in the people business". "They're in the business of helping their clients remain compliant, giving their clients peace of mind, helping them be successful in either their business or personal wealth. "I don't think that will ever go away, that relationship."