Excel Gets AI, FP&A Pros Under Threat, QBO AI Feeds Blowback

In this episode of the Accounting Podcast, Blake and David discuss the use of AI in accounting, including Blake's experience using ChatGPT for strategic planning and the issues with QuickBooks' new AI-powered bank feeds. They explore how AI can be used to improve efficiency and margins in accounting firms, but also caution against blindly accepting AI-generated results without proper oversight and control. The hosts also touch on the potential impact of tariffs on small businesses and the economy, as well as news of Gusto acquiring Guideline. They also answer questions from live viewers, addressing concerns about AI replacing accountants and the challenges of implementing AI in practice.

Outlines

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The Accounting Podcast

AI's Impact on Accounting and Strategic Planning

Sponsor Messages and AI Implementation in Bank Feeds

Problems with QuickBooks AI Bank Feeds and a Better Approach to AI Implementation

Addressing Listener Concerns About AI and Demonstrating AI Capabilities

AI Implementation, Task Automation, and the Role of Accountants

The Limits of AI, the Cost of AI Agents, and the Potential for Increased Profit Margins

Excel's New Copilot Feature and AI Usage Policies

AI's Impact on FP&A Professionals and Barstool Sports Lawsuit

Tariffs and Their Impact on the Economy

Sponsor Message and Gusto's Acquisition of Guideline

Excel Gets AI, FP&A Pros Under Threat, QBO AI Feeds Blowback

The Accounting Podcast

00:03AI's Impact on Accounting and Strategic Planning

AI's Impact on Accounting and Strategic Planning

02:54Sponsor Messages and AI Implementation in Bank Feeds

Sponsor Messages and AI Implementation in Bank Feeds

05:07Problems with QuickBooks AI Bank Feeds and a Better Approach to AI Implementation

Problems with QuickBooks AI Bank Feeds and a Better Approach to AI Implementation

09:53Addressing Listener Concerns About AI and Demonstrating AI Capabilities

Addressing Listener Concerns About AI and Demonstrating AI Capabilities

14:45AI Implementation, Task Automation, and the Role of Accountants

AI Implementation, Task Automation, and the Role of Accountants

21:14The Limits of AI, the Cost of AI Agents, and the Potential for Increased Profit Margins

The Limits of AI, the Cost of AI Agents, and the Potential for Increased Profit Margins

26:58Excel's New Copilot Feature and AI Usage Policies

Excel's New Copilot Feature and AI Usage Policies

34:06AI's Impact on FP&A Professionals and Barstool Sports Lawsuit

AI's Impact on FP&A Professionals and Barstool Sports Lawsuit

41:25Tariffs and Their Impact on the Economy

Tariffs and Their Impact on the Economy

52:14Sponsor Message and Gusto's Acquisition of Guideline

Sponsor Message and Gusto's Acquisition of Guideline