There’s rarely an accounting firm today that functions without a tech stack of some sort, most of which have been built out of a need to solve specific problems or client work. But with the onset of AI and what it can currently and potentially do, could we be looking at the end of the tech stack as we know it?
For years, vendors, industry pundits, and practitioners themselves have preached the importance of having the right tech stack for efficiency, overall productivity, collaboration, and, in some cases, cost savings. Depending on what type of work a firm does and how it wants to function best internally ultimately determined the “stack” you had.
But increasingly, we’re discovering that many of the stacks that have been built were done so to solve individual problems, which can range from integration to specific functions. Moreover, as indicated, now with the ability to actually create things like integrations or solve multiple problems using AI, it does draw into question the need for the tech stack as we know it.
I know I don’t have all the answers; this is just more posing the question based on conversations I’ve had and just seeing how firms use tech in general. It’s often spotty, reactionary, and, to be honest, kind of a band-aid approach.
To quote Jason Staats (credit where it’s due), AI right now is like a band-aid, but it is the best band-aid we’ve ever had.
That may not be everyone’s reality, but for most firms who aren’t as strategic and have gone with what they see as a “best of breed” approach, the likelihood is that you do end up with a bunch of tools that don’t always “talk” to each other or have been built inside of your practice in a more reactionary way.
While this is a scenario to consider for putting AI to work, it should go without saying that proper planning and thought before making such tech decisions are in focus. I know the reality is most firms don’t work that way, as they don’t see being able to set aside the time to do that level of planning.
Believe me when I say it’s not as much as you think. Speak to your colleagues and you will see. And even the level of work that does go into it will be worth it in the long run.
Because, let’s face it, unlike cloud, there’s only so long accountants will be able to avoid using AI to address not only technical but even strategic issues. It’s already built into most applications you use.
And with AI’s growing ability to not only allow you the opportunity to build and train but also, in short order, look at its own shortcomings and design what’s needed, I say again the days of the tech stack we know are numbered.