Will Artificial Intelligence replace Professional Recovery and Insolvency Advice

Can Artificial Intelligence (‘AI’) replace the listening, understanding and sound practical advice given to directors of companies in difficulty that a face to face meeting with BRI Business Recovery and Insolvency can provide.

No doubt AI on its own could explain the pertinent points when considering a rescue or the relevant insolvency procedures and the risks of each.

What it struggles to do is tailor that advice to the specific issues a client faces as each issue in turn leads to another tangent in the provision of advice.

For example in a failing manufacturing business could AI discuss how to complete work in progress without: the landlord changing the locks due to unpaid rent

• bailiffs taking away materials/stock/goods falling foul of wrongful trading preferring any one creditor

• considering how staff will be paid either by the company or the government’s redundancy fund

Businesses can attract people back into the office – if the offer is right

Free food, free drinks and social gatherings can be effective in enticing workers back into the office, a new survey has revealed.

While 78 per cent of respondents still want an element of flexibility in their working week, free food, free drinks and more social events could be key to drawing people back to more traditional ways of working in the wake of the pandemic. The online poll, by recruitment firm Pertemps, showed 12 per cent of respondents said free food could help convince them to change their working habits to be based in the office. One per cent of participants indicated free tea and coffee would be enough for them to ditch remote working, while social events emerged as a more compelling factor, with nine per cent saying they would consider returning for regular gatherings.

I put that very question to ChatGPT and whilst parts of the answer seemed logical and useful some didn’t provide the guidance needed. It wasn’t professional or tailored advice, it was generic.

I have no doubt that AI will have a positive impact on our industry in time and if applied correctly but when a client is in difficulty they need to speak to a person that provides sound tailored advice, empathises and holds their hand through what are often the most difficult times in their business and personal lives.

BRI Business Recovery and Insolvency provide that advice day-in day-out and are a trusted advisor in our industry. For a free meeting, in confidence and without obligation the management team at BRI are on hand to answer any queries you might have.

Contact jrimmer@briuk.co.uk or 02476 226839 or visit www.briuk.co.uk for further information.

Tracy Evans, Group HR and Quality Director at Pertemps, said: “Social interactions, team bonding and incentives like food and drink clearly can have an impact on the inclination of people to return to the office.

“An element of flexibility remains important to many, but it is interesting that just small changes in culture could be the key to encouraging people back into an office environment where there are many advantages for people and businesses.

“These findings carry important implications for employers seeking to optimise their workforce strategies in a post-pandemic landscape. By accommodating the preferences of remote workers, organisations can create a more inclusive and responsive workplace environment that advances employee engagement and well-being.”