AI Accounting Softwares:

A Threat to actual Accountants

The accounting field is definitely one of the most tedious but rewarding job
in our society today. Upon graduating and passing the board exam for this
course, the fruit of success that's about to come in your way wont be surprising
due to the fact that you'll encounter a lot of different opportunities. However, there
is a possibility that all of these things will be regarded. All of it can dissappear in
the blink of an eye. It is mainly caused by one thing and it is the rise of AI
Accounting Softwares.

The future of accountants in this modern world is somehow in the brink of

downfall. There is a few notable rise of AI (Artificial Intelligence) Accounting
Softwares in some firms around the world. Surprisingly, the rapid innovation of
technology today allowed this software to emerge out of the blue. The rise of this
softwares signals the death of the accounting profession due to the fact that
companies and firms in the future will likely depend on the use of this softwares
instead of hiring professional accountants. There is a high possibility that more
and more firms will adapt this softwares for their company in order to lessen their
salary expenses for their workers. Because of technology, artificial Intelligence
will soon dominate the different work fields available in the job industry and the
accounting profession is not an exception. Luckily, AI Accounting softwares isn't
as popular nowadays but this kind of issue is not just something that we should
ignore because there is a high probability that this kinds of softwares will be
mass-produced in the near future.

AI Accounting Softwares or Computerized Accounting Systems allows a

firm to do the duties of an accountant through the use of technology. This kind of
softwares functions by putting financial data in its system and it will compile all of
their financial transactions and tax informations just like an actual accountant. AI
Accounting Softwares are definitely helpful but don't let it distract you from the
fact that technology cannot and will never replace humans. One should always
remember that softwares doesn't have the proper knowledge, wisdom,
experience, and judgement that an actual person possess. At the end of the day,
these softwares requires human to function and without the intellectual ability of
humans, they are useless. Accounting requires critical thinking and tedious
analysis and this is something that AI Accounting Softwares do not have because
they only rely on user inputs and computer algorithms.

Using AI Accounting Softwares has an underlying positive and negative

implications. Starting off with the good side, no one could deny the fact that using
these softwares are considered less of a hassle for companies because they do
not have to hire professional accountants to assess the profitability of their
company, the only thing that they have to worry about is the person in charge
that will input the data on the system. That's why it is important to hire a software
operator that is well-eqipped with ICT skills. On the other hand, it also has a few
negative implications attached to it. First, it will obviously limit the job
opportunities for aspiring accountants because firms will heavily rely on using
these softwares. Second, the security of using these softwares isn't guaranteed.
Hackers could potentially enter your database, exploit your financial data and use
it for their own malicious purposes. Lastly, these softwares are prone to user
errors. Since it heavily relies on user input and system algorithm, one wrong
input of financial data onto its system and it will affect the entire data. This will
lead to incorrect and unreliable financial information for a company.

At the end of the day, no one could stop the rapid growth of technology.
We, as humans, need to adapt to this certain changes in order to live
harmoniously. As a solution for this issue, we should envision AI Accounting
Softwares as an opportunity and not as a threat. Instead of replacing
accountants with softwares, why not combine the two forces in order to provide a
more productive ability to work. The power of humans and the power of
technologies are unmatched. When used properly, these two can provide greater
opportunities for risky situations. Lastly, from the viewpoint of a student in the
accounting course, in order to compromise with the use of this softwares in the
future, we should be greatly inclined with ICT related lessons at an early age by
gaining deep enthusiasm in studying the use of different softwares taught to us at
our schools. This will provide us with a foundational guideline that will
accompany us in our endeavor in the accounting field.