AI doesn’t need to be 100% accurate to be incredibly useful in accounting. It's about achieving an acceptable level of accuracy.
During a recent conference presentation on AI and accounting, I discussed both the promise and limitations of artificial intelligence. One audience member asked a thoughtful question - how do we ensure the accuracy of AI?
One way to do this is to have one AI produce an output, and another AI validate the accuracy and assign a confidence score.
In accounting, we don't need to tie out to the penny. Instead, it's about reasonable assurance and materiality. AI that gets us close enough could revolutionize productivity.
But AI has a long way to go before replacing human creativity, critical thinking, and judgment. My entire presentation explores how humans and AI can work together to shape the future of accounting.
