VCs are starting to partner with private equity to buy up call centers, accounting firms and other "mature companies" to replace their operations with AI
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God I cannot wait for this AI bubble to pop.
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You can never fully replace an accountant with AI, you can replace the assistants, the bookkeepers, secretary and other support staff, but the accountants themselves are never going to be replaced.
People want something that tells them everything is okey or trust on a certain quality standard. That's why accountants where introduced in the first place.But man we are still manually entering data from invoices, using basic bank imports that in some countries(cough US) don't even work properly to be trusted in the first place. Invest into AI in the right part of the accounting sector and you can make millions and I have been saying this from before the AI boom.
Edit: nobody likes mindlessly entering transactions, that's why bank connections are basically the standard now. Same for OCR invoice processing and asset tracking.
Automating data entry would be great. I myself would love that in my scientific job. It just seems like none of the agentic models are anywhere close to what's needed to deliver that.
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Every country needs a more fair tax structure. Sadly a lot of people don't seem to get that here in NL (among other countries). Even the left doesn't really want to fix it. since increasing social security for the lower class makes it so the middle class pay a lot more taxes percentage wise.
In the US we do that to some extent but not for the wealthy. Somehow we ended up with upper middle class paying the highest rate, then tax rates dropping as you get wealthy. It’s fair that I pay a higher rate than someone with less income, but very much not fair that I pay a higher tax rate than wealthy people
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I think there's good potential where the caller needs information.
But I am skeptical for problem-solving, especially where it requires process deviations. Like last week, I had an issue where a service I signed up for inexplicably set the start date incorrectly. It seems the application does not allow the user to change start dates themselves within a certain window. So, I went to support, and wasted my time with the AI bot until it would pass me off to a human. The human solved the problem in five seconds because they're allowed to manually change it on their end and just did that.
Clearly the people who designed the software and the process did not foresee this issue, but someone understood their own limitations enough to give support personnel access to perform manual updates. I worry companies will not want to give AI agents the same capabilities, fearing users can talk their AI agent into giving them free service or something.
I can definitely see the fear of letting ai do something like that. Someone will always try to trick it. That’s why we can’t have good things.
However, like you said, they didn’t think to make that an option in the voice menu. If it were an AI, you could drop the process into the knowledge base and have it available much more easily than reprogramming the voice menu
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Automating data entry would be great. I myself would love that in my scientific job. It just seems like none of the agentic models are anywhere close to what's needed to deliver that.
Yeah, something like Peppol (digital invoice exchange system) wil also be easier in the bookkeeping/accounting fild.
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In the US we do that to some extent but not for the wealthy. Somehow we ended up with upper middle class paying the highest rate, then tax rates dropping as you get wealthy. It’s fair that I pay a higher rate than someone with less income, but very much not fair that I pay a higher tax rate than wealthy people
Is that actual rates? Or is the looking at different kind of taxes? I was talking about income tax + social security if you get it.
People with massive company structures can always pay less tax. Or at least less at this point in time. The only way to change rhis if every country works together to fix it
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Is that actual rates? Or is the looking at different kind of taxes? I was talking about income tax + social security if you get it.
People with massive company structures can always pay less tax. Or at least less at this point in time. The only way to change rhis if every country works together to fix it
Effective rates
- The ladder of progressive rates ends too early, so actual income tax rates do not go up after something like half a million income. That’s a lot for most of us but does not begin to cover the wealthy
- Many tax cuts over the last few decades were specific to other types of income, generally available to the wealthy
For example if you were like Elon Musk, the richest person in the world (sometimes) who gets little to no salary and is paid mainly with stock options, you’d pay at most 37% on your salary, same as any basic millionaire but the bulk of your income would count as long term capital gains and taxed at 20%, lowering your effective rate. Even better, you could take loans against your stock and never “realize” the gains so never pay taxes on it.
There are many other tricks you can pull to count your income as other that income and taxed at a lower rate. Last time we had that debate, Warren Buffet, another of the richest men in the world wrote an opinion piece in support of changes that he could take advantage such that he paid a lower effective tax rate than his secretary. Nice try but quickly disappeared under a flood of propaganda from other rich people
Technically anyone could be paid in stock like Elon musk, and live off loans on stock like Elon musk, and pay a much lower effective tax rate like Elon musk, but it’s a practical Impossibility for most of us
Technically we could all form a trust like the Kennedys and many other wealthy families, hold all of our assets. The trust has several ways to avoid taxes and i believe is taxed at the corporate rate, which is also now lower than personal tax rates. And the trust can cover all of our expenses and write them off from its income, while we owe little to no income tax. Realistically most of us couldn’t afford the lawyers to make that happen much less the prerequisites to dodge the taxes
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You can never fully replace an accountant with AI, you can replace the assistants, the bookkeepers, secretary and other support staff, but the accountants themselves are never going to be replaced.
People want something that tells them everything is okey or trust on a certain quality standard. That's why accountants where introduced in the first place.But man we are still manually entering data from invoices, using basic bank imports that in some countries(cough US) don't even work properly to be trusted in the first place. Invest into AI in the right part of the accounting sector and you can make millions and I have been saying this from before the AI boom.
Edit: nobody likes mindlessly entering transactions, that's why bank connections are basically the standard now. Same for OCR invoice processing and asset tracking.
I feel you, and AI tech has been completely squandered.
My phone knows everything about me and has for the last decade.
It is not able to do a single useful thing for me.
It knows where I go, when I go, what my schedule is, what I buy, what I don't.
It has never been able to suggest anything useful, advise me of a sale on products that I buy, let me know about a vendor in my area that can deliver for cheaper.
It's not able to notice that I'm trying to format text on my screen and I'm entering the same bullet at the front of things. It would never take over and say oh let me copy paste this very obvious task you're doing that even a child could deduce from your primitive actions.
"Transfer all of my image files off of my phone into a folder on my computer, then reorganize all of the photos on my phone into sensible groupings instead of random folders all over the place that have piled up over the years". Not going to happen, because that's useful.
"Hey phone, I'm going out. Take a look at my shopping lists and let me know what stores have what on sale so I can save a few bucks. You know all the stores I go to, because you're watching my every move." Not going to happen, because that's useful.
When AI is implemented into businesses, it's qualified to direct you to an FAQ. Any opportunity to win new customers with high level service is squandered.
I do not hate ai, I detest the fact that the possibilities to improve the lives of people have been completely ignored, while it is primarily implemented as a cost saving measure. Completely short-sighted and fucking useless.
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I can definitely see the fear of letting ai do something like that. Someone will always try to trick it. That’s why we can’t have good things.
However, like you said, they didn’t think to make that an option in the voice menu. If it were an AI, you could drop the process into the knowledge base and have it available much more easily than reprogramming the voice menu
Part of the issue will be convincing the decision makers. They may not want to document a process for deviation x because it's easier to pretend it doesn't occur, and you don't need to record specific metrics if it's a generic "manual fix by CS" issue. It's easier for them to give a support team employee (or manager) override on everything just in case.
To your point, in theory it should be much easier to dump that ad-hoc solution into an AI knowledge base than draw up requirements and budget to fix the application. Maybe the real thing I should be concerned with is suits using that as a solution rather than ever fixing their broken products.
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Shareholder value? Capital gains? Golden parachute? These are all great things if you belong to the owner class.
Wait until AI reduces it to just owners.