The interview: AI meets ROI

By Janet Berry-Johnson | for Net Gains

You've heard the hype: AI is coming for your job. But Ruth King isn't buying it. As the Founder and CEO of Financially Fit Business, she's spent decades helping entrepreneurs understand their numbers, and she sees AI as an accelerant, not a threat.

In this Q&A with The Net Gains, King breaks down how smart accountants can use AI tools to automate the grunt work, spot trends faster and spend more time having the kinds of advisory conversations that actually move the needle. Spoiler: empathy is still a competitive advantage.

 -Bianca Prieto, editor

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You’ve spent your career helping business owners become financially fit. How do you see AI tools enhancing the advisory role of accountants rather than replacing it?

AI performs the repetitive tasks. It doesn’t replace the person-to-person conversations about what is happening with a business.

AI can spot issues with the financial statements and alert the CPA or bookkeeper who checks to make sure the data is correct. Then the advisor has an impactful conversation with the client. They discuss the graphs/trends and help the clients understand the trends and what they mean.

At this point, AI cannot do this. AI is the tool to help these advisors do financial advisory grunt work faster.

What types of AI-powered tools do you recommend accountants and bookkeepers start with if they want to improve reporting, forecasting, or cash flow insights for clients?

The Financially Fit Business AI-driven software decreases the preparation time. It automatically calculates and graphs the trends of the client's business, and it takes less than two minutes, rather than spending an hour or two to calculate and graph the trends. The website has information to help the financial professional understand the trends and suggestions to help these financial professionals point their clients in the right direction if the trends are heading in the wrong direction.

How can firms balance automation with the human touch to ensure AI improves service delivery without losing the personalized advice clients rely on?

AI will never replace the human touch. I can’t imagine a client wanting to speak with an avatar or robot about the financial health of the company. This is a sensitive subject and requires human compassion and empathy to help guide the business owner to increased profitability and wealth.

Reviewing financial statement trends with the client each month helps build trust and keeps the human touch and pulse on that company’s financial journey. The CPA or bookkeeper truly becomes the trusted advisor and someone the business owner can rely on for guidance.