(This column originally appeared in Accounting Today)
1. 74% of workers blame employers for their AI skills gap
A recent survey by educational platform Skillsoft reveals that 74% of workers blame their employers for the AI skills gap. The survey — which included 2,500 full-time employees from the U.S., U.K., Germany, and India — found that 35% of respondents lack confidence in their skills, with 41% concerned about job security due to the skills gap. AI and machine learning are identified as the most critical skills gap with 43% placing them at the top. Among those who cited AI/ML as their biggest skills gap, 74% rated their organization’s AI training as “average to poor.” To address this critical issue, holistic, long-term workforce planning will provide quality training and better prepare workers for the evolving job market. (Source: CIO.com)
Why this is important for your firm and clients: These workers are right — the biggest impediment to AI adoption isn’t the technology. It’s teaching your users to truly leverage the technology. But we’ve always been bad at that, haven’t we? We know we don’t invest in the training needed to use our office and other business applications. And we suffer the consequences when our people aren’t taking advantage of all the things available to them to help them do their jobs faster, which in turn improves productivity and our profitability.
2. Microsoft adds 10 AI agents in Dynamics 365
Microsoft has introduced 10 new AI agents within its Dynamics 365 suite to enhance business processes in sales, finance, supply chain, and customer service. A Sales Qualification Agent prioritizes and researches leads and can draft personalized sales emails. The Supplier Communications Agent manages collaboration with suppliers. The Financial Reconciliation Agent prepares and cleanses data sets to simplify financial reporting. Agents are expected to be available for public preview later this year and into early 2025. For more details, visit the Microsoft Blog. (Source: ZDNet)
Why this is important for your firm and clients: This is the start of something big. Dynamics agents are just the beginning. Every software application — from CRM to accounting to HR — will be rolling out these types of agents in the coming months. There will be countless agents available to businesses that will leverage AI to automate many internal processes. Smart managers will recognize this reality and start learning. I’ll be doing the same within my business.
3. Anthropic’s CEO reminds us of the radical upside of AI
In his essay “Machines of Loving Grace,” Anthropic CEO Dario Amodei presents an optimistic vision of AI’s potential to transform society in positive ways. Clarifying his position on the risks — which had been perceived as deeply pessimistic — Amodei explains why Anthropic has focused more on AI’s potential dangers. Emphasizing the importance of keeping a balanced perspective, he goes on to list the immense benefits AI could bring to areas like health, economics, and government. “I think that most people are underestimating just how radical the upside of AI could be,” Amodei says. (Source: Dario Amodei)
Why this is important for your firm and clients: This is a great read for both owners and their employers who are hesitant about AI. Yes, there are huge risks: deep fakes, environmental, losing control, jobs, etc. But the “radical upside” of AI I believe supersedes those risks and Amodei eloquently explains why.
4. Gmail users: Beware a new AI scam
Gmail users beware — a sophisticated AI-generated scam has been discovered and described as “super-realistic.” This latest alert was posted by Microsoft security expert Sam Mitrovic, who received an account recovery message that required his approval — followed by a call from Google with a report of “suspicious activity” on his account. Mitrovic later discovered the person who contacted him was AI-voice technology impersonating a rep from Google support. An account recovery message is what hackers are utilizing to initiate a phone call — something that a Google tech wouldn’t do unprompted. (Source: ZDNet)
Why this is important for your firm and clients: I mentioned the risks of deep fakes above and this is one of them. Users are advised to scrutinize the originating email and phone number, use two-factor authentication, and never share sensitive information.
5. Teams can now block workers for their own good
Microsoft Teams recently introduced a feature aimed at supporting frontline workers by limiting after-hours access to the app. This new capability allows organizations to either warn users or completely block them from accessing Teams outside of designated work hours. This functionality — part of Microsoft’s efforts to improve employee well-being — can help prevent burnout by encouraging proper work-life balance. IT administrators have the option to configure these restrictions based on company policies, ensuring workers are not engaging with the platform during personal time. (Source: Neowin)
Why this is important for your firm and clients: If you’re going to have policies, then you want help enforcing them. Also, with new overtime rules from the Department of Labor, it’s important that you monitor your employees’ overtime hours — or use a tool like this to restrict them from putting in those hours if it’s against your policy.
6. Zendesk enhances service solution with AI
Customer service platform Zendesk is enhancing its service solution by deepening the collaboration between human agents and AI. Zendesk introduces new tools that integrate advanced AI capabilities into customer service workflows, aiming to improve efficiency and personalization. According to the company’s press release, these innovations include smarter AI-driven bots and automation features to assist agents in providing faster and more accurate responses. “AI is now bridging the gap between high-quality service, at a lower cost,” said Zendesk CEO Tom Eggemeier. (Source: PR Newswire)
Why this is important for your firm and clients: I’m a big fan of Zendesk for customer service, particularly because it has a strong presence in the SMB market with a very feature-rich, yet affordable, platform. I’m betting that these AI enhancements are just the start of many. If your firm is service-oriented, this is a good platform to consider. It also integrates with many CRM and accounting applications.
7. OpenAI says ChatGPT 4.0 will change how you use chatbots
OpenAI has introduced a new feature called Canvas. Designed to enhance productivity, Canvas provides a dedicated workspace for creating, editing, and managing documents and code. Canvas integrates a word processor with ChatGPT’s AI assistance, eliminating the need to switch between different tools and offering users smoother workflow. According to the company, Canvas opens in a separate window and will open automatically “when ChatGPT detects a scenario in which it could be helpful.” (Source: Business Today)
Why this is important for your firm and clients: Businesses can use Canvas to brainstorm and visually map out marketing campaigns. Product teams can leverage Canvas for collaborative product development to sketch out prototypes, organize research, and plan product features, all while integrating AI suggestions. Business analysts can use OpenAI Canvas to visualize and present data insights more effectively. For example, sales trends, customer behavior, or financial performance can be mapped out using AI-generated charts and visuals. How do I know all this? I just asked ChatGPT. Cheating!
8. 71% expect software to replace POS terminals
According to a recent report published by PYMNTs, 71% of merchants expect software-based solutions (SoftPOS) to replace traditional point-of-sale terminals. SoftPOS allows merchants to accept payments using smartphones or tablets, eliminating the need for expensive hardware. This shift is driven by the rise in contactless payments and the cost-effectiveness of SoftPOS compared to traditional systems. By 2027, the number of merchants using SoftPOS is expected to increase by 475% transforming the retail landscape. (Source: Pymnts)
Why this is important for your firm and clients: Hello AI. Bye-bye people.
9. FTC makes canceling subscriptions easier
The Federal Trade Commission has finalized a new rule called Click to Cancel to make it easier for consumers to cancel subscriptions. This rule requires companies to make the cancellation a simple process. Key aspects of the rule include consumer consent for subscriptions, auto-renewals, and free trials; transparency where companies must clearly disclose terms and conditions while prohibiting misleading information about a product or service. FTC Chair Linda Khan stated that this rule aims to save consumers time and money by eliminating “tricks and traps” often used by businesses. (Source: Fox Business)
Why this is important for your firm and clients: If your clients sell online subscriptions, they’ll need to comply and the size of the company doesn’t matter. Have them revisit their procedures for allowing consumers to cancel and update. As a consumer, I like this rule. I’m sure your clients’ customers will be expecting the same.
10. ZDNet loves this lightweight laptop
Kyle Kucharski of ZDNet reviewed Lenovo’s Yoga Slim 7x, giving it high marks as a lightweight laptop for remote workers. Key features include a 3K OLED display that offers stunning visuals; the Snapdragon x Elite processor for solid performance; an outstanding battery life; and the laptop’s sleek, 2.6-pound design. “Compared to a MacBook, one could argue that the Yoga Slim 7x is at least better than the MacBook Pro M2 Max … you’re not going to pay thousands for this machine,” Kucharski said. (Source: ZDNet)
Why this is important for your firm and clients: I’m in. Thanks Kyle.
