Introduction
I don’t know if it’s just me, or maybe my generation, but every time I use AI, I think of the film The Terminator and the rise of the machines against humans. It’s only a fleeting thought, but it’s always there.
Does that thought stop me from using AI? Absolutely not.
In fact, AI has become part of everyday life and business, often without us even realising it. Whether we’re using accounting software, asking a virtual assistant a question, or generating ideas for marketing content, AI is increasingly woven into the tools we use every day.
But what exactly is AI, and how much should we rely on it?
What Is AI?
The Oxford Dictionary defines Artificial Intelligence (AI) as:
“The capacity of computers or other machines to exhibit or simulate intelligent behaviour; the field of study concerned with this. In later use also: software used to perform tasks or produce output previously thought to require human intelligence.” (current definition)
In simple terms, AI uses large amounts of data to identify patterns, learn from information, and generate responses, suggestions, or actions that would traditionally require human input.
A common misconception is that AI simply searches the internet and provides an answer. While some AI tools can access online sources, many AI systems work by analysing information they have already been trained on, alongside any information provided by the user.
How Useful Is AI in Everyday Life and Work?
AI can save a significant amount of time and help increase productivity in both our personal and professional lives.
Whether you’re drafting an email, planning social media content, organising information, analysing data, or producing reports, AI can often complete tasks in minutes that may otherwise take hours.
For small business owners, this can be particularly valuable. Time is often one of the most limited resources available, and anything that reduces repetitive tasks can create more time to focus on customers, growth, and profitability.
However, a key question remains:
How much should we rely on it?
The answer lies somewhere between embracing its benefits and understanding its limitations.
Risks and Dangers of AI
Like any technology, AI has risks as well as advantages.
One concern is the creation of deepfakes: images, videos, or audio recordings that have been altered to make people appear to say or do things they never actually said or did. As the technology improves, identifying genuine content becomes increasingly difficult.
AI can also generate inaccurate or misleading information. Sometimes referred to as “hallucinations”, AI systems can present incorrect information confidently, making it easy for users to trust answers that aren’t actually correct.
Incorrect information can have serious consequences, particularly when decisions involve finances, legal matters, health, or business operations.
This is why checking sources and verifying information remains essential, regardless of how convincing the AI’s response may appear.
AI Regulation and Governance
Another challenge is the speed at which AI is evolving.
New AI tools and capabilities are being developed far quicker than governments, regulators, professional bodies, and organisations can create policies and procedures to govern their use.
Businesses are increasingly having to decide for themselves how AI should be used, what information can be entered into AI systems, and where human oversight is required.
This creates a balancing act. Organisations want to benefit from the efficiencies AI can provide while ensuring compliance with data protection legislation, maintaining confidentiality, and managing potential risks.
As AI continues to develop, regulation and professional guidance will undoubtedly evolve alongside it, but at present many businesses are learning and adapting as the technology progresses.
AI in Accountancy Software
Many accountancy software packages already use AI behind the scenes.
Features such as:
- Bank transaction matching
- Receipt data extraction
- Invoice processing
- VAT checks
- Error detection
- Cashflow forecasting
all rely on varying levels of artificial intelligence and automation.
These systems are generally tested and refined before being released, helping to improve efficiency while reducing manual data entry.
For accountants and bookkeepers, this can free up valuable time that can be spent supporting clients rather than processing routine tasks.
AI and Administration
One area where AI is making a real difference is administration.
Business owners often spend hours each week chasing invoices, processing paperwork, gathering information, responding to emails, and managing supplier communications.
AI can assist with many of these repetitive tasks, allowing businesses to focus on running and developing their operations.
A good example is William by Apron, an AI-powered assistant designed specifically for bookkeeping and finance administration. William can help collect invoices and receipts, chase missing information, organise supplier documents, and reduce the amount of manual communication required between businesses, bookkeepers, and accountants.
Rather than replacing people, tools like William are designed to support administrative processes and remove some of the repetitive tasks that can consume valuable working hours.
For many small businesses, that time saving can be significant.
Business Use of AI
In business, many people now use AI for:
- Blog ideas
- Social media content
- Marketing plans
- Email drafting
- Customer communication
- Research and brainstorming
AI can be particularly useful when planning content or generating initial ideas. It may suggest topics or approaches that hadn’t previously been considered.
However, AI isn’t always aware of the latest UK legislation, tax changes, or industry-specific developments unless it is connected to current sources and provided with appropriate context. For example, changes relating to Making Tax Digital (MTD), tax legislation, or government announcements may not always be reflected in every AI-generated response.
Like any assistant, the quality of the output depends largely on the quality of the information provided.
The more context you give AI, the more useful its responses are likely to be.
Writing and Communication
One of the most practical uses of AI is improving written communication.
AI can help review emails, letters, reports, and other documents by improving structure, readability, and clarity. It can also help explain technical information in simpler terms, making it easier for clients and customers to understand.
Another useful application is document creation. By providing guidance notes, procedures, or specifications, AI can often produce a well-structured first draft in a fraction of the time it would take manually.
While the final output should always be reviewed and checked, this can be an enormous time saver when creating business documents and communications.
A Different Use for AI: Choosing What to Wear
AI isn’t just for business.
One example I’ve come across is someone who uploaded details of their wardrobe into an AI system. By entering information such as the occasion, weather, and location, the AI can suggest outfit combinations using items they already own.
While it may seem unusual at first, it demonstrates just how versatile AI can be and how quickly it is becoming part of everyday life.
Checking Sources and Credibility
No matter how useful AI becomes, source checking remains critical.
When AI provides information, take the time to review where that information came from.
For example:
- Medical information should ideally come from organisations such as the NHS.
- Tax information should be checked against HMRC guidance.
- Business regulations should be supported by official government sources.
- Charity information can be verified through the relevant charity regulator.
Not every website provides accurate information, and AI cannot always distinguish between reliable and unreliable sources.
The responsibility for checking the information ultimately remains with the user.
Professional Examples: When AI Gets It Wrong
While AI can be an excellent tool, it is important to remember that it does not replace professional expertise.
One example I have encountered involved a business owner using AI to carry out a cost analysis rather than seeking professional advice. The resulting analysis excluded a significant portion of the business expenses, leading to inaccurate conclusions and an incomplete picture of the business’s financial position.
In another situation, an AI tool provided information that conflicted with professional guidance regarding access to client funds. The AI’s answer appeared confident, but it failed to take account of the professional, ethical, and regulatory requirements involved.
These examples highlight an important lesson:
AI can provide information, but it does not always provide the full picture.
Professional judgement, experience, and understanding of specific circumstances remain incredibly important.
The Reality of AI
Interestingly, when AI is asked to list its own advantages and disadvantages, it often focuses on productivity and efficiency.
Commonly cited advantages include:
- Automation
- Time savings
- Increased productivity
- Reduced administrative workloads
- Faster access to information
It also frequently highlights concerns around job displacement in certain sectors.
However, one of the most significant risks is often understated: the possibility of confidently providing inaccurate information.
In my experience, this is one of the most important limitations businesses should be aware of when using AI.
Conclusion
AI is evolving rapidly and will undoubtedly become an even bigger part of our personal and professional lives.
Used correctly, it can improve efficiency, reduce administration, support communication, generate ideas, and save significant amounts of time. It is already transforming accounting software, business administration, and many of the tools we use every day.
However, AI is not a fountain of knowledge, nor is it a replacement for professional advice, experience, or human judgement.
Like any tool, its value depends on how it is used.
By understanding both its capabilities and its limitations, businesses can benefit from AI while avoiding some of the risks that come with relying on it too heavily.
AI can be a fantastic assistant, but it should remain exactly that: an assistant, not the decision-maker.
Want to Learn More About AI?
If you’re interested in using AI effectively in your business, consider undertaking formal training to better understand both its capabilities and limitations. Good AI training can help businesses use AI safely, efficiently, and responsibly while remaining aware of data protection, compliance, and accuracy considerations.
I have worked with and would recommend NS Design, who offer practical AI training designed for businesses looking to make the most of emerging technology.
