What's Next For Accounting? - Issue #99
💡 Intuit Announces Their AI Assistant
The long-awaited first look at Intuit’s AI assistant came this week. Let’s run through the highlights & lowlights:
👍 It promises to actually “do work”, not just talk about it. One example they give is sending out payment reminders for all invoices from the chat interface
👎 It’s rolling out to all US customers “in the coming months”
🤔 Interestingly it’s “Intuit Assist” not, QBO Assist, because it’ll supposedly work across QBO, Turbotax, Mailchimp and Credit Karma. Unclear how much of this is actually working today vs a mockup like this incredible 2016 sizzle reel for the original QB assistant
👍 They show useful stuff like short-term cash flow projections, but tbd whether there are just a few very specific use-cases
👎 They highlight its ability to connect you with an advisor. A QuickBooks Live bookkeeping professional, that is. Or a TurboTax Live pro.
My top tip:
Get proactive about how your clients could use this tool. Proactively advising around what it will & won't do is the only way to maintain alignment with your clients. Hide under a rock and your clients will form their own conclusions.
Tomorrow on the daily pod we're doing a deep dive on this, subscribe here.
We’ve discussed ledger chatbots quite a bit on the daily pod, most recently here
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📅 This Week
My daily pod passed 100 episodes thank you to the 1,200-ish lovely people tuning in every day
Practice management systems have an opportunity to enable client-facing chat experience atop the client specific data we have - we explored this opportunity in depth here
Delphi is an app for cloning individuals to enable true-to-life 1-on-1 conversations with experts - I think it’s the most disruptive short-term AI application for accounting pros
ClientHub shared their roadmap for revamping their practice management system with AI
Video recording app Loom shared more about their AI plans - They already use AI to generate a title, transcript, summary and chapters, and will soon use it to generate thumbnails, enable transcript-based editing (like Descript), generate personalized variations of a single video, even voice & visual avatars
Lingtual is an app to build AI apps atop your business data
😍From The Community
My private peer networking community Realize for firm leaders, now capped at 500 members. We’ll be permanently raising the price for new members in a couple weeks.
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