You can never fully replace an accountant with AI, you can replace the assistants, the bookkeepers, secretary and other support staff, but the accountants themselves are never going to be replaced. People want something that tells them everything is okey or trust on a certain quality standard. That’s why accountants where introduced in the first place.
But man we are still manually entering data from invoices, using basic bank imports that in some countries(cough US) don’t even work properly to be trusted in the first place. Invest into AI in the right part of the accounting sector and you can make millions and I have been saying this from before the AI boom.
Melvin_Ferd@lemmy.world 5 days ago
I don’t think this is as dramatic as a lot of you are saying it is. It works or it doesn’t. This is what VC should do
dantheclamman@lemmy.world 5 days ago
Have you ever used a chatbot for technical support? It’s infuriating. Yet the industry is barreling in that direction before the tech is ready, customers be damned. This is not what VC should do.
Melvin_Ferd@lemmy.world 5 days ago
Have you ever had to use an indifferent college student that barely speaks English for technical support
MentalEdge@sopuli.xyz 5 days ago
Then you need to look into how private equity works.
They buy mature companies, often with borrowed capital, and then place the debt on the purchase company. They essentially make companies take on a massive loan to buy themselves from themselves, except the private equity firm ends up the owner.
The company then goes into overdrive trying to pay off the debt, while the firm makes changes intended to make the company “more efficient”. All while paying themselves “consulting fees” and “bonuses” for stepping in and “helping” the company do better.
This usually means mass layoffs, dumping assets, paycuts, restructuring…
Best case scenario, they company was already failing, and now it fails faster.
Worst case… The company was doing perfectly fine, making a sustainable living for its employees. And then it gets purchased by a private equity firm.
Suddenly everything is on fire. Not a single penny can go unpiched, workplace comfort unsacrificed, or employee unoverworked. And that that is the new norm, is the good ending.
Ledericas@lemm.ee 4 days ago
example of a parasitoid, unlike parasites, they kill the host.
Melvin_Ferd@lemmy.world 5 days ago
I don’t know much about private equity. So I appreciate the explanation. But that all just sounds like modern business to me. It’s a product of who we are and what we allow.