The enduring power of people in a digital age

Accountancy: Larking Gowen

AI’ s power to create growth and opportunity is just as strong now as it has always been, despite headlines trying to convince us otherwise.

For decades, we have worked on the principle that people buy from people. We’re constantly being told the momentum around AI is growing, and we recognise the need to innovate, but the implication is that human input is diminishing in value. While AI can help make processes more efficient, it cannot replace human instinct in the high-stake or values-driven decisions that form the backbone of any successful business. Nor is trust something AI can replicate – we know we need to check everything it produces, after all! People buy from brands they believe in. That belief is built on consistency, integrity and empathy – through genuine relationships.

As customers and clients become more aware of the obvious signs of AI use, the more heavily you rely on it, the greater the risk that your brand will stop standing out among distinctive and innovative competitors. AI focuses on patterns. Good business relies on nuance, lateral thinking, the courage to ask challenging questions and the ability to listen.

We all know how frustrating it is when you need to raise a complaint and end up going round in circles with a bot on a website. We also know how much loyalty can be created when an issue is resolved with care – by listening and valuing the feedback you’re given. A people-first approach strengthens the opportunities that technology presents.

The biggest benefit we see from AI in our business is saving time. We have invested in tools and software that don’t replace our people, they support them. These tools reduce time spent on administrative tasks and remove the repetitive, manual processes that take time away from client-facing work. Our people are empowered to use them to create more opportunities to support clients directly. That strengthens their sense of purpose and improves overall wellbeing.

Digital tax changes

It feels like the business landscape has faced constant change over the last few years, and this continues for many of our clients with Making Tax Digital for Income Tax (MTDfIT) coming into force this year for those sole traders and landlords earning over £50,000. We have embraced the use of cloud software such as QuickBooks and Xero, and our teams offer training to support clients who are facing the use of new systems to meet the MTDfIT requirements.

We don’t see this software as a replacement for us as accountants. Instead, we see it as a bridge. Using it efficiently can help speed up processes and create space for clients to focus on future planning and growth opportunities. By using cloud-based software alongside your adviser, you can keep data accurate and up to date, streamline tax processes, reduce errors and gain real-time financial insights, all while still benefiting from the human expertise needed to guide decision-making and identify opportunities.

Our ‘spirit’ has nurtured the long-term relationships that have sustained the success of our business and our clients, and while we continue to embrace efficiencies, AI is no substitute for that.