RCA TRAINING
Root Cause Analysis training by Sologic provides the tools, skills, and knowledge necessary to solve complex problems in any sector, within any discipline, and of any scale.Learn More
SOFTWARE
Sologic’s Causelink has the right software product for you and your organization. Single users may choose to install the software locally or utilize the cloud. Our flagship Enterprise-scale software is delivered On Premise or as SaaS in the cloud.Learn More
In 2010 when Tesla opened the doors of its first dedicated plant outside Fremont in California’s Bay Area, it promised to herald a 21st Century revolution in vehicle manufacturing. It would become Tesla’s, and the industry’s first fully automated flagship asset.
The vision of an AI driven plant proved to be optimistic. Far from driving production to new levels of efficiency, Tesla’s AI-powered robots actually slowed down production and the plant fell well short of its targets. Ultimately, Tesla had to call a halt to production until they could hire specialised workers to ‘train’ and manage the robots.
“Yes, excessive AI at Tesla was a mistake. To be precise, my mistake. Humans are underrated.”
Founder Elon Musk tweet
So, what can the Accountancy profession learn from this?
Despite the growing consensus in the professional press that technology, AI and the political climate will be amongst the top challenges facing firms, there is also an understanding that the future will provide some uniquely human challenges for all accountancy firms. These include:
- Attracting and retaining Talent
- Internal Communications
- Client Experience and Satisfaction
- Regulator Relationship
Leading commentators in the sector are already reporting that there is a growing trend towards accountancy firms looking solely to technology, software and apps for solutions to client demands, not least as a means to reduce their overheads and need for talent. Equally, as technology advances it may in fact be the clients that use this technology to their advantage and no longer to turn to the accountancy profession to take care of their professional needs.
It’s not that embracing technology isn’t crucial, desirable or even inevitable. It is that focusing solely on technology for future solutions overlooks one of accountancy’s biggest assets – the human being. Technology cannot replace the complex, context-rich judgement and wisdom that many clients rely upon from their accountants. Future-proofing firms and attracting the the clients of tomorrow will increasingly require a focus on value-added services, such as advisory and planning services. At present, there is only one source of these skills – qualified, motivated and experienced humans.
In part 2, we’ll explore how Structured Problem Solving and Root Cause Analysis is helping humans keep pace with AI.
RCA TRAINING
Root Cause Analysis training by Sologic provides the tools, skills, and knowledge necessary to solve complex problems in any sector, within any discipline, and of any scale.Learn More
SOFTWARE
Sologic’s Causelink has the right software product for you and your organization. Single users may choose to install the software locally or utilize the cloud. Our flagship Enterprise-scale software is delivered On Premise or as SaaS in the cloud.Learn More