How Accounting & Financial Services Professionals can stay relevant

Alright, accounting and financial service professionals - let’s have a real talk.

AI is here, and it’s not just knocking on the door; it’s basically barged in, kicked off its shoes, and made itself comfortable in our industry. And, if you’re still thinking AI is something you can ignore or avoid, spoiler alert: you can’t. But here’s the good news—this tech revolution isn’t about replacing you; it’s about giving you superpowers. Yeah, you heard me. Superpowers.

Someone once asked me, ‘Aren’t you worried about AI replacing your job?’. I responded, ‘Aren’t you worried about someone who has embraced AI replacing yours?’.

Despite my personal bias which vehemently dislikes the thought of machines taking over the world – my philosophy is either jump on board or get run over.

So, how do you not only survive but thrive in this new AI-driven landscape? Let’s break it down.

1. Embrace the Change, Don’t Fight It

First things first: AI is not the enemy. I know, I know—change is hard, especially when you’ve built a career doing things a certain way. But here’s the thing: AI isn’t here to replace accountants and financial planners. It’s here to make you faster, more accurate, and more efficient. Think of it as your trusty sidekick, taking care of the grunt work so you can focus on the big-picture strategy and client relationships.

Those who resist change will get left behind—it’s as simple as that. The pros who dive headfirst into AI, on the other hand? They’re going to be the ones everyone’s talking about at the next industry conference.

2. Up Your Skillset Game

You didn’t get where you are by staying stagnant, right? Well, in the age of AI, continuous learning is your new best friend. Whether it’s taking courses on AI integration in finance or learning how to work with AI-powered tools, investing in your skillset now will pay off big time down the road.

The more you understand how AI works and how to leverage it, the more indispensable you’ll become. You’ll be the one who knows how to harness AI’s power while still bringing that human touch clients can’t get from a machine. And let’s face it—that is the sweet spot in this industry.

3. Leverage AI to Elevate Client Relationships

Here’s where things get exciting. While AI is taking care of the mundane tasks—like data entry, tax compliance, and even fraud detection—you get to focus on what truly matters: your clients. AI gives you more time to be the trusted adviser, the problem solver, the go-to expert. Use this tech to enhance your client relationships by offering deeper insights, faster solutions, and personalised strategies. Clients want more than just number crunchers—they want you, the person who understands their unique financial goals and challenges. I genuinely believe when it comes to money and retirement, Australians will always need that sounding board and the role we play in the industry can only be enhanced with AI.

For example, take a look at the incredible new video reporting I provide to SMSF trustees courtesy of Digital Rapport. Clients love it! Most replay the video several times (and why wouldn't you when it's information about your financial future)?

With AI handling the background tasks, you can spend more time being the financial superhero your clients need. That’s how you stay relevant, even in a world full of tech.

4. Focus on What AI Can’t Do

AI is a beast when it comes to analysing data, identifying trends, and flagging risks. But guess what? AI doesn’t have emotional intelligence. It can’t sit down with a stressed-out client and offer them reassurance. It can’t build trust, deliver bad news with empathy, or understand the nuances of a client’s fears and hopes. That’s your territory.

So, double down on what AI can’t do. Strengthen your communication skills. Be the one who understands both the numbers and the human side of finance. This is where you shine, and this is what keeps you indispensable in the age of AI.

5. Adapt, or Get Left Behind

The bottom line is this: AI is not a passing trend. It’s the future of accounting and financial services. Those who adapt will thrive. Those who don’t? Well, let’s just say they’ll be looking for a new line of work sooner than they think.

If you want to be in the game for the long haul, it’s time to embrace AI as your co-pilot. Learn it, leverage it, and let it take your career to the next level. AI isn’t your competition—it’s your secret weapon.

So, get on the AI bandwagon, and start joining your clients on the golf course.

The next time someone asks if you’re worried about AI taking over your job, you can confidently say, “Nope, because I’m already ahead of the curve.”