What does the future hold for accounting professionals? According to a recent article from Forbes Technology Council, the following trends will be instrumental in shaping this industry in 2019.
Instead of replacing human accountants, new technologies like the cloud, artificial intelligence (AI), and blockchain will instead empower the financial services industry to keep more accurate records. These technologies will assist their human counterparts by improving the quality of the data they record, store, and reference.
Since we live in a world where being able to access financial data from any internet-friendly device is the new normal, embracing new cloud accounting and software applications is the next step the accounting industry needs to take in order to make this kind of information more accessible to their clients.
Although modern technology is able to provide financial professionals and their clients with access to more precise data, this information still needs the assistance of human accountants to apply the facts and figures they manage to the standards of the real world.
Blockchain is a method of data delivery that allows users from several different sources to have access to the same information in a very short period of time. Therefore, transactions that used to take days can now be completed in a matter of minutes or even seconds.
Professionals in the accounting industry can secure their careers by embracing the role technology can play in helping them turn data into profits and increase their client’s cash-flow possibilities.
No matter how advanced modern technology becomes, AI will never be able to duplicate the same kind of emotional connection and level of trust with a client than an in-person accountant can.
Hocking College in Nelsonville, OH has an Accounting & Financial Services degree. In two years you can graduate with an Associate of Applied Science in Accounting & Financial Services degree.
For more information contact Program Manager Micah Covert by email at covertm29000@hocking.edu or by phone at (740) 753-7213.