AI And Machine Learning Could Empower Your Accounting Career Path Posted on : Sep 06 - 2018

People hear the words “machine learning,” “artificial intelligence,” and “automation” and are often stricken with fear, uncertainty, and doubt (FUD) about their careers and what the future holds for them, especially in the finance and accounting industries. Despite the FUD I've heard rampantly reported today on how “robots are going to replace the human workforce,” I believe the future is bright for financial professionals and that technology can light our path.

Don’t fear the robots; they can help you shape your adventure.

According to a Chicago Tribune article, Edward Packard is credited with the first book in the Choose Your Own Adventure series in which readers immersed themselves in the story by taking on the primary character role of a mountain climber, spy, doctor or race car driver, among others. What made this adventure series so popular was the unique opportunity for the reader to take control of the journey and choose their own path. As we grow into adulthood and enter the workforce, we often lose this ability to pick our path. Our path is sometimes chosen for us. Stresses of everyday life can make it harder to seek out a fulfilling career or pursue our dreams. And of late, the fear and uncertainty that advancements in technology create can be debilitating, especially for those who work in finance.

So, for a moment, I invite you to read along and consider which path you might choose on your adventure. As the CEO of an accounting company for entrepreneurs, I believe that while the advent of artificial intelligence (AI) and machine learning applications is rapidly changing process work across industries, cutting-edge technology can help accelerate, rather than hinder, our careers and drive us to be more strategic than ever.

I believe that advances in technologies like AI, machine learning and predictive analytics have helped alleviate and automate the overwhelming amount of process work required across industries. By eliminating tedious tasks, there is now an enormous opportunity for finance professionals to reinvent themselves and become strategic solution providers to their organizations.

Here's how to choose your path.

Specifically, I believe today’s professionals can be empowered to pick one of two strategic paths: They can either become communicators of critical business data and information, empowered to advise key stakeholders on business initiatives based on keen insight; or they can become experts in redesigning traditional industry processes to be more efficient by leveraging modern technology.

Either path will likely require a honed set of skills to execute effectively, and I believe specialization in one of these two paths will become a cornerstone to success for financial professionals. Fostering niche expertise while leveraging cutting-edge technology is, from my perspective, the formula for staying relevant, strategic and indispensable. To help guide your decision, I’ve outlined the key requirements for each path I foresee to determine which adventure will best align with your skill set, interests and expertise. View More