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How Will Automation and Artificial Intelligence Affect the Accounting Industry

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Aequitas Information Technology Pvt Ltd
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Let us face it;  automation has been drastically changing the accounting profession for years. From robotic process automation (RPA) to artificial intelligence (AI), automation is quickly becoming the new norm in the industry. While there is some concern about how automation will eliminate jobs, the truth is that automation has actually created more jobs in accounting than it has eliminated. 


Read more: How Accounting Automation Tools Drives Company Revenue?


As automation becomes more sophisticated and AI begins to be adopted into accounting practices, we can expect even more dramatic changes in the industry. With AI, accountants will have access to technology that can improve accounting performance, accuracy, and insight. In fact, a study by PWC found that automation has the potential to increase productivity by up to 50 percent. This increased level of automation will likely lead to a reduction in the need for human interaction in accounting, making way for more streamlined and efficient processes.


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