As a Business Owner, the changes AI can bring is the automation of repetitive tasks. AI Powered Accounting Software maybe able to recognize patterns, differentiate between different types of invoices or Bank Statements as well as automating categories and processing information.
But Wait!!! Do you know that AI cannot provide personalized financial advice that goes beyond the Financial Reports? AI cannot discuss with you to offer you a tailored and personalized advice to assist your Business Growth. It cannot adjust changes in financial regulations and tax laws as it struggles to know which law applies to what. In addition, with AI, you're not likely to have confidentiality of your financial information as there is no regulation, regarding what can be published by AI. You might just stumble into your Business Financial Information someday.
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