9 AI tools to help you solve problems now

In February, Secretary of State for Science, Innovation and Technology Michelle Donelan MP presented the government’s response to consultation concerning AI regulation, calling the developments in AI capabilities “a once-in-a-generation opportunity for the British people to revolutionise our public services for the better and to deliver real, tangible, long-term results for our country”.

The consultation outcomes set the scene for the use of AI with guardrails that reduce risk and to drive innovation across the economy. It also identified the growth of the AI industry itself, pointing out that it employs more than 50,000 people and adds £3.7 billion to the economy. 

A study of the adoption of AI tools in UK firms hypothesised in late 2023 that smaller firms were less likely than their larger peers to adopt new AI tools, based on their traditionally slower uptake of other technology tools. The reasons cited include:

• Decision making rests with one person – a CEO – or at least fewer people considering less information
• Less technical expertise within smaller firms, which employ more generalists
• Fewer resources to enable the investigation and implementation of new technologies
• Higher prioritisation of short-term objectives

That study also surveyed UK firms that had adopted new technologies, and found that:

• Positions: 67 per cent had created new positions because of the technology adoption, while 47 per cent reported eliminating positions. 
• Skills: 83 per cent report that new skills are needed, while 54 per cent see a reduction in the need for some skills.
• Quality: 48 per cent report job quality is improved a little and 21 per cent a lot; 5 per cent report say job quality is reduced by a little and 0.5 per cent by a lot. 

A Deloitte poll of professionals in Switzerland, also in 2023, found that six in 10 already used AI tools, with 63 per cent of those agreeing that their use of AI tools improved efficiency. Other benefits of AI tool use included a boost to creativity and quality. Despite the ‘AI will take jobs’ narrative, a reduction in costs was quite far down the list of advantages to AI use. 

Since these studies, and even since February when the government released its response to the consultation paper, AI tools have proliferated. The list of which tool is the top performer changes on an ongoing basis as the capabilities of AI tools expand and the performance of these tools' specific capabilities improves.

And with these expanding capabilities and improving performance, use cases have changed. We know Chat GPT can write a speech for us – and then can change the expression to that of a Shakespearean tragedy, a comedy skit, a rap. Those focused on utility are using AI platforms to translate videos, to create pitch decks in minutes rather than hours, to automate time tracking across teams and to identify bottlenecks and spaces for optimisation, and more. 

Below, we’ve compiled suggestions of AI tools that can help you solve challenges that are common in accounting firms and small professional services businesses of most types. Click on a ‘card’ to reveal a tool that can help.

Read next: 12 ChatGPT prompts for accountants.