Are accounts and tax related software products that are now essential tools for progressive firms, also ripe for development into advisory roles – offering ideas based on access to tax and business legislation.
How long before HMRC’s online services include an option “Click here to choose the strategy that minimises your liabilities based on current circumstances”.
When, if ever, will advisors be side-lined by AI competitors?
We are already seeing the classic compliance services being provided by bookkeeping firms or other less qualified individuals who provide the basic annual accounts and tax return solution stripped of thoughtful planning advice.
We may be many years away from the march of AI systems into advisory roles, but progressive firms are already being encouraged to increase the range and promotion of advisory-led services in addition to compliance activities.
We all need to stay informed, and we are proud to be part of the process that disseminates our ever more complex tax code and other legislation into copy that is more accessible.
Let us hope that the remorseless progress of AI remains the servant of their human creators and not their masters.
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