It gets old, but it’s not far from the truth, and that’s the biggest risk to most local accountants, they’re not running a business, they’re still practicing.
One of the most effective forms of leadership is leadership by example. Today’s accountants are no longer the ‘cypher clarks’ of yore. The future of accounting lies in the ability of the professional to adapt to the machine learning environment of the future.Tomorrow's professional may no longer be called an accountant. Click To Tweet
Instead, they may be data analysts, digital analysts, software consultants, or any of hundreds of yet unnamed disciplines.
They will be acting as business managers, orchestrating a staff of multi-disciplinary experts in everything from marketing to operations, from mergers and acquisitions to biometrics.
In the future, technologies such as blockchain may make the audit obsolete. Advances in biometrics may make computer security almost inpenetrable. Data collection and storage may make interpretation techniques the realm of the specialist.
It’s all coming, and it is here now.
Advertising and communications are being tracked by complex algorithms, and researchers pore over the reports with even more algorithms to discern and give meaning to the numbers, so decisions can be made for future actions.
All this is happening right under our noses, and still we march along, hoping no one will notice we’re just practicing.
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