BLOG: Digital Financial Reporting
This is a blog for information relating to digital financial reporting. This blog is basically my "lab notebook" for experimenting and learning about XBRL-based digital financial reporting. This is my brain storming platform. This is where I think out loud (i.e. publicly) about digital financial reporting. This information is for innovators and early adopters who are ushering in a new era of accounting, reporting, auditing, and analysis in a digital environment.
Much of the information contained in this blog is synthasized, summarized, condensed, better organized and articulated in my book XBRL for Dummies and in the chapters of Intelligent XBRL-based Digital Financial Reporting. If you have any questions, feel free to contact me.
Entries from May 20, 2018 - May 26, 2018
H&R Block and IBM Watson Partnership, Example of Things to Come
H&R Block is partnering with IBM Watson for personal tax return preparation. Imagine a similar tool for the creation of corporate and partnership tax returns. This is an example of the sorts of things to come in financial reporting, accounting, bookkeeping, etc.
I put together the document Computer Empathy to help people understand how computers work and therefore how to accurately understand the true capabilities of computers.
This video walks you through some of the capabilities of IBM Watson and how Watson works. IBM is not the only one building this sort of software. Google Deep Mind has similar capabilities. It is highly likely that Apple, Microsoft, and many others will create similar capabilities.
But there are risks related to artificial intelligence. Good leadership is called for. Intellectual laziness needs to be avoided. Snake oil salesmen will take advantage of ignorant buyers.
Charlie
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