The Accountany market has been flooded with many cloud based digital solutions over the past few years. Whilst this has delivered significant benefits, many practices also face challenges that include digital fragmentation (too many solutions), large data volumes, compliance, increased validations, partial process automations and bottlenecks - especially where manual interventions are required.
There is some research being conducted to assess the need for a 'platform' offering virtual workforce using AI (Artifical Intelligence) technologies to create Virtual Workkforce (book keepers, accountants, payroll admins, general admins etc.) that can be introduced as 'bolt-on' solutions on existing practice softwares to excute the processes in entirety. The level of automation for these 'AI Bots' is likely to vary depending on the cognitive skillsets involved, with the basic cognitive tasks (book keeping, payroll etc.) being fully automated and higher cognitive tasks (say audit, valuations etc.) being partially automated to augment the experts and professionals.
These AI Bots solutions are already being developed and deployed in the larger organisations. The difference would be to offer them to all the practices from a 'platform' where they can be deployed easily and interoperable with all the existing practice softwares - just like existing staff.
It'd be great to get some thoughts, views, suggestions and comments on this.