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Artificial Intelligence (AI) is no longer a future concept – it’s already here; redefining what it means to be efficient and transforming the way companies operate. From automating repetitive tasks to improving accuracy and decision-making, AI is revolutionising the business landscape.
Last month, we attended the 10th AI Summit event in London to learn from top tech leaders, exploring how AI is reshaping industries, especially the world of Accountancy. One clear message stood out: AI isn’t replacing humans – it’s enhancing what we’re capable of; and at MJB Avanti, it inspires us to deliver deeper insights, faster results, and offer proactive support for you and your business.
AI isn’t a new concept, but today it’s more accessible than ever. With thousands of AI-powered tools now available, even to small businesses, it’s transforming the way companies operate right before our eyes. And we know what you’re thinking – while it might evoke images of sci-fi scenes and robot takeovers – the reality is far more practical: AI is seriously changing the game for businesses, and we’re fully invested.
A few areas where AI is making a noticeable impact on business operations:
“AI is changing the way accountants work and is becoming essential, not optional”
- A thought-provoking insight from a speaker at the AI Summit
AI and cloud tools now go hand-in-hand bringing significant advancements to the business environment across all industries. Together, they’re giving business owners a level of visibility, speed, and accuracy that wouldn’t have been possible a few years ago.
Cloud-based software is any tool that runs over the internet rather than installed on a computer or server. Data is stored securely in the cloud and is easily accessible anywhere and at any time. There are many benefits to cloud-based software to businesses, including:
Xero is a powerful example of a cloud-based software platform that provides real-time visibility into your cash flow and a clear picture of your business finances – no matter where you are.
As a Platinum Xero Partner, at MJB Avanti, we don’t just recommend tools, we work closely with you to help choose, integrate, and get the most out of the right apps for your business. This includes:
Our team genuinely enjoys finding tech that works. We test, research, and recommend the best options so you don’t have to. You’ll be left with less admin, more accuracy, and quicker access to the numbers you need to grow your business. Our priority is to simplify your day-to-day so you can focus on what matters most.
“Traditional firms will not exist in the very near future”
- AI Summit quote of the day, Ryan Pearcy, Founder, Digital Transformers Group
It’s completely normal to feel wary of AI – and rightly so. That’s why we have researched some of the most common questions and addressed them below to give you peace of mind:
Q: “Will AI take my job?” A: AI won’t replace your job; it will just make you better at it. AI handles repetitive admin so that people can focus on creative thinking and strategy, boosting both creativity and job satisfaction.
Q: “Is my data safe if I use AI tools?” A: Yes, as long as it’s set up correctly using trusted platforms that meet strict data protection standards. (more on this below)
Q: “I’m not techy enough for this.” A: That’s exactly why we are here to help you set things up and provide support. Most tools we recommend are simple and user-friendly.
Q: “Can I trust the results?” A: AI is powerful, but not perfect. We always recommend human checks for anything important. (more on this below)
Need support? Or have any questions that weren’t covered in this section?
Beyond exploring the latest tech at the AI Summit event, we also learned to approach AI with care: developing ethical frameworks, implementing strong internal policies, and ensuring our teams have the right training and support.
While AI brings a huge number of benefits, it’s important to understand the flaws that come with it, because it doesn’t always get things right. It can misinterpret data, generate inaccurate information, or make assumptions based on incomplete patterns. In some cases, it can even make things up when it’s unsure. AI is a support tool; it is not to be used to replace – human judgement and ethical considerations are critical.
Here are the key takeaways:
“With mandates like MTD, over 60% of firms say automation is critical to remain compliant and competitive”
- Statistic from the AI Summit that stood out
The AI Summit event was hosted by The Digital Accountancy Show and was sponsored by Sage. We left feeling inspired, informed and excited about what the future holds.
A huge thank you to the organisers and speakers for making it such a valuable experience!
If you’re curious about how tools like Xero, AI, and cloud integrations could support your business, click the button below.
Trusting our people
Delivering the services you need
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