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ACCOUNTING
FOR THE
ROBOTS
ACCOUNTANCY IS ONE OF THE FIRST PROFESSIONS TO BE.
AFFECTED BY THE.ADOPTION OF ARTIFICIAL.INTELLIGENCE(AI).
IT IS ESTIMATE...
A growing number of repetitive tasks are being
delegated to robots, leaving accountants more
time to look for value-added ...
The adoption of AI is outpacing
the construction of an ethical
governance framework.
Algorithms that drive everyday
search...
5 WAYS ACCOUNTANTS.
HAVE.MASTERED AI.
READ
MORE
Despite some people’s fears, AI can be a
job creator, not a job killer.
He...
BEYOND.
COMPLIANCE.
AI will move beyond
compliance and into the
delivery of accounting advice,
but it will never fully rep...
LEARNING TO LOVE AI.
READ
MORE
For Ayesha Khanna, AI must be an aid
for humanity, not a destroyer of it.
The Singapore-bas...
ADAPTING TO.
THE DIGITAL FUTURE.
READ
MORE
Digital technologies will “cut out the
middleman” in financial services,
leavin...
OPPORTUNITY.
MAKER OR KILLER?.
READ
MORE
Will AI lead to more unemployment
or create new opportunities?
According to the A...
IMAGINING.
THE AI FUTURE.
READ
MORE
The image of human-like AI has
dominated our thinking for decades.
Today, AI is creepi...
Technology is completely transforming how we think, feel and
work.That’s why, this year, CPA Congress is changing too.
LEA...
INTHEBLACK.COM
To read about the latest trends.on how new technology.
is impacting accounting,.visit: https://www.inthebla...
Accounting for the robots
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Accounting for the robots

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Accountancy is one of the first professions to be affected by the adoption of AI.

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Accounting for the robots

  1. 1. ACCOUNTING FOR THE ROBOTS
  2. 2. ACCOUNTANCY IS ONE OF THE FIRST PROFESSIONS TO BE. AFFECTED BY THE.ADOPTION OF ARTIFICIAL.INTELLIGENCE(AI). IT IS ESTIMATED THAT.95 PER CENT OF ACCOUNTANTS. ARE LIKELY TO BE IMPACTED BY ADVANCED.TECHNOLOGY,. BUT THERE ARE ALSO.OPPORTUNITIES FOR THOSE WHO ARE. WILLING TO ADAPT.AND FIND NEW AREAS IN WHICH TO ADD VALUE.. READ ON TO DISCOVER SOME OF THE CRITICAL ISSUES AS ACCOUNTANTS RESPOND TO THE NEW TECHNOLOGY.
  3. 3. A growing number of repetitive tasks are being delegated to robots, leaving accountants more time to look for value-added opportunities. While automation and AI could be bleak for the profession, they also open up opportunities for people who can harness the data they create to offer strategic advice to clients. With their time freed up, accountants and other knowledge workers will be able to apply their intellect and creativity and transform the nature of their work. READ MORE THE. CREATIVE. ACCOUNTANT.
  4. 4. The adoption of AI is outpacing the construction of an ethical governance framework. Algorithms that drive everyday searches could have unseen biases, and already there have been issues with chatbots tweeting racist slurs. Human governance is needed to ensure that AI is being used for good and not evil, but although momentum is building, this is still a work in progress. READ MORE AI: THE GOOD,. BAD AND THE UGLY.
  5. 5. 5 WAYS ACCOUNTANTS. HAVE.MASTERED AI. READ MORE Despite some people’s fears, AI can be a job creator, not a job killer. Here are five accounting tasks that can be positively impacted by AI: Auditing, risk management, vendor reconciliation, regulatory compliance and reporting, and trend analytics.
  6. 6. BEYOND. COMPLIANCE. AI will move beyond compliance and into the delivery of accounting advice, but it will never fully replace the human touch. At the 2018 World Congress of Accountants, Xero head of AI research Carole Barnay said AI would soon “provide suggestions” to accountants. She said AI would progress beyond “showing anomalies” and develop new abilities to focus on business issues “which could be more problematic”. READ MORE
  7. 7. LEARNING TO LOVE AI. READ MORE For Ayesha Khanna, AI must be an aid for humanity, not a destroyer of it. The Singapore-based CEO of ADDO AI says technology “has to tango with humans” and give us what we need for a more relevant, productive and higher-quality life. She is also driven by a desire to see women of all faiths, backgrounds and races take up science and technology, and see them have the creative confidence to participate in any company using AI.
  8. 8. ADAPTING TO. THE DIGITAL FUTURE. READ MORE Digital technologies will “cut out the middleman” in financial services, leaving accountants to focus on strengthening relationships and delivering insights. CPA Australia policy adviser – reporting, Ram Subramanian, says “this is a challenge to enhance our profession”. “So much of what we do is compliance work, so what will we do when that is taken away?” he asks.
  9. 9. OPPORTUNITY. MAKER OR KILLER?. READ MORE Will AI lead to more unemployment or create new opportunities? According to the Australian Government’s scientific and research organisation the CSIRO, in the next decade about 75 per cent of all work done today will be affected by AI, automation and machine learning. The CSIRO has identified cybercrime and privacy concerns as key factors that will determine the extent to which the potential of the new technology is realised.
  10. 10. IMAGINING. THE AI FUTURE. READ MORE The image of human-like AI has dominated our thinking for decades. Today, AI is creeping up on us thanks to improvements in computer-based vision and speech recognition, and to advances in natural language processing. A Stanford University study has identified eight areas where AI is already having an impact, and these include transport, healthcare, public safety and security, employment and the workplace.
  11. 11. Technology is completely transforming how we think, feel and work.That’s why, this year, CPA Congress is changing too. LEARN MORE..
  12. 12. INTHEBLACK.COM To read about the latest trends.on how new technology. is impacting accounting,.visit: https://www.intheblack.com/. Job positions were accurate at the times these articles were published in INTHEBLACK

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