Industry Research
White Paper
This white paper demonstrates the industry research of AI and the effects it has on the business and workers.
Summary
In my White Paper, I deepened my analysis skills by researching the effects of artificial intelligence in accounting firms. This experience allowed me to understand the different effects that AI has on the industry, demonstrating my ability to analyze complex business contexts. While AI hasn't had a severe impact on the accounting industry in terms of jobs being lost, there is still evidence of it occurring. Some ideas that the white paper shares to alleviate the concerns are government intervention. This intervention would restrict the usage of AI in terms of treating workers unfairly while also encouraging the usage of AI for the sake of innovation. Both businesses and individuals need to pay attention to the adoption of AI and ensure that workers and businesses can thrive with this new technology.
Excerpt
"A critical part of the implementation strategy is the cooperation with local state and federal government regulations. With AI rapidly expanding through many businesses, the Federal and State governments should establish regulatory frameworks that can encourage the usage of AI while also making sure that workers are not being treated unfairly or removed from their jobs due to AI. All companies, regardless of size or whether they are publicly traded, should be required to submit a standardized annual report detailing the usage of AI. Any usage of AI must be documented and tracked using the company's systems. These reports will include clearly defined metrics such as the percentage of tasks automated, the extent of AI-assisted decision-making, and changes in employee productivity pre and post AI deployment. Each part of this report should be broken down to ensure transparency and accountability by job role and stature. This report will be enforced by including randomized or periodic audits and penalties for non-compliance.
Government institutions should also enforce ethical guidelines on maintaining a balance between such automation and employee oversight. These enforced guidelines will improve worker satisfaction and reduce the fear of their jobs being replaced by a machine. The government can encourage the use of AI that is ethical by presenting tax benefits or grants for organizations that demonstrate AI productivity gains without workforce reduction. These same companies shouldn't bar new entrants into the accounting profession due to the use of AI. This should allow those who have just graduated from college to not be blocked from entering these companies due to the involvement of AI."