It's not every day you get the opportunity to interview the Global Chief Technology Officer of one of the landmark suppliers to the accounting profession. In this podcast discussion with Aaron Harris from Sage, we explored a few issues around using AI in the accounting profession. We, perhaps surprisingly, opened up a very human conversation on this topic, exploring the idea that the success of your firm in using AI to support your clients and work better with your team is founded on trust. There is much scepticism around the use of AI in the accountancy profession, but it is important to work out how to build a high trust environment within which AI can work. Bearing in mind that Bill Gates recently said that the use of AI is profoundly more impactful than any other single thing in the history of Microsoft, it’s something we have to take seriously. It’s not something that we need to be fearful of, but it is something that requires a foundation of trust. So why not check out this profoundly valuable podcast discussion with Aaron Harris. Please scroll down the podcast’s episode page for the contact information for Aaron and for the additional, downloadable resources mentioned in the podcast.
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The Solution:
I think the first part of that answer is that when you go to ask a question, if we no longer are limited by a monthly close you know that the answer you get is reliable and it's based on information that's current to the minute that you ask your question.
There's a lot that goes into us solving this but that's the first part of it - answering a question anytime or asking a question and getting an answer anytime, knowing that the data is current and reliable.
But the second piece is that some of the same technology that we apply to automating the capture of all of this information, the accounting for all that information, and the assurance of the reliability of that information, is the same technology that can be used to discover insights in the data, whether its risks or opportunities.
So it’s not that you have to feel overwhelmed and constantly going into your system to see, what you might have missed – it’s our job to deploy technology and AI is a huge part of this, in a way that surfaces those insights in real time when they are actionable.
SHOW NOTES
Connect with Aaron
Meet Aaron Harris, Sage's visionary Chief Technology Officer, steering emerging tech investments, AI-powered innovations, and driving the company’s continual transformation excellence. Aaron’s passion lies in powering the accounting industry forward with transformative technology, and building the next generation of diverse tech talent. At Intacct (now Sage Intacct), Aaron was a cloud computing pioneer, developing the world's first multi-tenant cloud architecture for on-demand financial applications. He's a trusted voice in cloud computing, artificial intelligence, technology leadership, and finance tech standards. Holding a Master's in Information Systems and a Bachelor of Science in Accounting from Brigham Young University, Aaron Harris is an AI-driven tech luminary who for the last 25+ years has been shaping tomorrow's innovation.
Connect with Paul
Resources relating to this podcast:
During the podcast, Paul and Aaron talk about how Sage has been very open and transparent with their principles and drive about the way they build AI and how they decide what they will use AI to address and what they won't use it for.
Click the button below to read their ethics and data principles in detail:
During the podcast Aaron talks about the findings from their Forrester Consulting study. The study was commissioned by Sage and is its vision of how AI will reshape the future of the accounting industry.
The study of 2339 small business finance leaders reveals how AI unlocks real-time insights to improve strategic decision-making capabilities and Forrester make 5 big predictions. Click the button to access this research and discover what these predictions are:
During the podcast Aaron and Paul talk about the responsiveness of AI and how it is always adapting and why using AI starts with your clients and the relationship you have with them. Once you understand their issues you can build the technology to support their needs and adapt and adjust as necessary along the way.
Aaron calls using AI within an accountancy firm an iterative process, which can be a challenge for some accountants as they see themselves as always needing to be right.
He talks about the importance of adopting an Agile Methodology to your work with AI and the importance of 'constant course correction' and why you need to include iteration in the experience.
If you want to know more about the Agile Management system and how to 'Scrum' and 'Sprint' your way to success then please click on the button below to read the new Business Breakthrough Report 'Business Sprinters Win', you will discover a framework to enable you to build an agile management system successfully in your firm.
Towards the end of the podcast, Aaron mentions a quote from Alan Kay an influential computer scientist who said, 'The best way to predict the future is to invent it'.
Aaron talks about us being in a period where we can choose the future we want and to what extent we will allow AI to creep into it.
Below is a keynote speech from Alan, where he goes into much more detail on the reason he made this statement when he worked for Xerox. It is funny, and light-hearted and very interesting, He talks about the alternatives for the future and what we can and cannot control, he also talks about what happens if we do nothing.