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Artificial Intelligence & Robotics –

So what top technologies are helping the shift into accounting automation and creating new roles for accountants? Here are the top 5 ways we think technology is transforming the accounting industry:

  1. Artificial Intelligence & Robotics – Artificial intelligence and robotics is automating complex and repetitive tasks and processes, with extreme accuracy, reducing operating costs and increasing efficiency . These are some of the emerging technologies supporting the transitional role of today’s accountant into a more critical thinking role. However, the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA) states in their report, Digital Darwinism: thriving in the face of technology changeAlthough an agent intelligent enough to replicate the human brain is not yet a reality, there are many examples that can demonstrate limited ‘intelligence’, depending on how this is defined. Intelligent behaviour can include: learning from experience, determining what is important, handling complex situations, understanding visual images, being creative or imaginative, and other characteristics.