Technology is advancing at a pace, and as well as being aware of the impact it is having on business performance now, organisations also need to make sense of the effect that emerging technologies are going to have; the disruption they will cause and the opportunities they will provide.
Technology has always played a key part in the role of the accountant so the impact on the accounting profession is not to be underestimated. Accountants need to adapt to the current changes and also think about how they can use technology to enhance the roles that they perform to add further value to the business, rather than being concerned that advances in technology may o mean their roles become redundant.
Learning is essential for accountants to keep abreast of what is going on, and we particularly like this quote from Clar Rosso, AICPA's executive vice president of engagement and learning innovation: "Automation and other disruptive trends in the accounting profession will require CPAs and Chartered Global Management Accountants (CGMAs) to learn, unlearn and relearn as they progress through their careers. To thrive, you'll need to continuously adapt your skillset and evolve your competencies."
So, learning needs to be ongoing. Accountants need to think about the effect that technology has now, ensure they are up to speed in areas such as cloud accounting, data analytics, tax software, and then understand how emerging technologies like machine learning, robotic process automation and artificial intelligence are starting to change the shape of the profession. Going forwards, accountants, and the organisations they work in, need to keep learning in order to understand how to adapt their roles to make the most of the technology revolution.
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