Forbes: Will Artificial Intelligence And Cloud Accounting Replace The Accountants Of Tomorrow?
Monday, July 23, 2018 at 08:16AM
Charlie

The Forbes article, Will Artificial Intelligence And Cloud Accounting Replace The Accountants Of Tomorrow?, explains that robots and artificial intelligence will replace 7% of all jobs in the U.S. by 2025.  So, that 7% is actually a net of a 16% loss of existing jobs and a 9% increase in new jobs, per Forrester.

The article says:

In this not-too-distant future, businesses will be able to afford powerful CFO advice without the cost of a full-time employee. All of those menial, time-consuming tasks that used to eat up hours of a day will be gone – a victim (or virtue, depending on your perspective) of the automation process. This doesn't eliminate the need for accountants, but rather empowers them. It frees up time in their day to work with clients in a more effective way.

The article goes on to explain that disruption is what you make of it:

When people hear the word "disruption," they tend to assume it has a negative connotation. However, this doesn't have to be the case --technological disruption is more about creating an opportunity than creating a threat. For accountants working with small business owners, disruption is less about, "What I do can now be automated, putting me out of a job," and more about, "Now that I can automate X, Y and Z, I can change my job for the better and for the future."

 

 

Article originally appeared on Intelligent XBRL-based structured digital financial reporting using US GAAP and IFRS (http://xbrl.squarespace.com/).
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