Technology is changing the world at an exponential rate. Numerous advances have been brought to a wide range of disciplines, such as medicine and business, allowing for a drastic change in the way organizations work or how people solve problems.
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While such shift has generally been welcome, there are fears that the accelerated pace of technological advancements could lead the replacement of professionals, such as accountants, by machines. Experts argue, however, that such a scenario remains remote.
These fears have been popping up for decades. What happened, however, was that technology only made the life of the accountants easier, as it removed laborious processes. With all the freed up time that accountants have on their hands, they could now branch out and enter into different fields such as giving out financial advice and providing counsel to businesses. This resulted in the unprecedented increase in the professionals’ commercial value.
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The automation of tasks is still rapidly becoming more diverse and abundant, yet this is actually an opportunity and not a threat to the many accountants around the world. With the proper mindset, accountants will arrive at ways to make technology work for them and not the other way around.
Eddie O’ Brien is a certified public accountant (CPA) and the current the CEO of the Americas at Arvato Bertelsmann, a multibillion-dollar business that delivers a host of BPO-related services. He once served on executive positions at Microsoft. For more information on his career, click here.