The impact of artificial intelligence on small business accounting — LJ Suzuki | CFOshare – Atlanta Small Business Network
While artificial intelligence has proven to be a game-changing technology, many are concerned about the impact it could have on employment, especially for those who work in small business accounting. As more use cases are discovered for tools such as large language models and image generation, more workers are feeling a sense of unease about their job security.
On this episode of The Small Business Show, host Jim Fitzpatrick is joined by LJ Suzuki, small business expert, serial entrepreneur and the CEO of CFOshare. Suzuki is an expert in the field of small business accounting and has created success for both his clients and his own enterprises through quantitative research and data-driven solutions. Now, he joins the show to share his thoughts on artificial intelligence and the trends workers and small business owners should keep an eye on as the technology sees wider adoption.
Key Takeaways
1. Artificial intelligence poses special risks to accountants and CFOs due to its ability to compile and analyze data.
2. There are limits to what artificial intelligence can do for small business accounting. Suzuki notes that platforms such as ChatGPT not only struggle to make accurate mathematical calculations but are gradually becoming worse as time goes on.
3. Artificial intelligence is never going to be reliable for judgment or for ethics. Both are used heavily for financial management and small business accounting.
4. AI tools such as Intuit’s QuickBooks can reduce labor and increase productivity for CFOs and accountants.
5. Entrepreneurs should use artificial intelligence as a complementary tool but never as a supplemental crutch for their small business accounting needs.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
On this episode of The Small Business Show, host Jim Fitzpatrick is joined by LJ Suzuki, small business expert, serial entrepreneur and the CEO of CFOshare. Suzuki is an expert in the field of small business accounting and has created success for both his clients and his own enterprises through quantitative research and data-driven solutions. Now, he joins the show to share his thoughts on artificial intelligence and the trends workers and small business owners should keep an eye on as the technology sees wider adoption.
Key Takeaways
1. Artificial intelligence poses special risks to accountants and CFOs due to its ability to compile and analyze data.
2. There are limits to what artificial intelligence can do for small business accounting. Suzuki notes that platforms such as ChatGPT not only struggle to make accurate mathematical calculations but are gradually becoming worse as time goes on.
3. Artificial intelligence is never going to be reliable for judgment or for ethics. Both are used heavily for financial management and small business accounting.
4. AI tools such as Intuit’s QuickBooks can reduce labor and increase productivity for CFOs and accountants.
5. Entrepreneurs should use artificial intelligence as a complementary tool but never as a supplemental crutch for their small business accounting needs.
ASBN, from startup to success, we are your go-to resource for small business news, expert advice, information, and event coverage.While you’re here, don’t forget to subscribe to our email newsletter for all the latest business news know-how from ASBN.
We are using cookies to give you the best experience on our website.
You can find out more about which cookies we are using or switch them off in .
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
