Don’t be scared of the robots; embrace them

Featuring technology expert Amy Vetter, CPA/CITP, CGMA


Video transcript:

There are many in the profession that look at the technology that’s coming, such as robotics, blockchain, artificial intelligence — all of these things that we read about — [that] we are going to be disrupted and accountants are going to go away. And I do not believe that that is the case at all. What will happen is the way we work today will be different, absolutely. And a lot of the processes that are truly considered non-value-added to a client may not be non-value-added to us. But, for instance, in an audit when we are reading all of the different pages in minutes, in contracts, and so forth, it takes up a lot of time in our audit to be able to find those things, whereas robotics can actually help us to identify those things faster so we can get the information faster. That doesn’t mean our value has gone down because we use that technology. Instead we are able to get that information at a faster rate, and be able to respond to our clients in a way that’s continuous, so we can get the information and be proactive as far as the audit goes, rather than reactive.

SPONSORED QUIZ

How well do you know small business?

There are over 30 million small businesses in the U.S., and many of them are optimistic in their outlook. Are you familiar with the obstacles and opportunities they are facing? Test your small business acumen with this quiz sponsored by Chase Ink®.

SPONSORED REPORT

In focus: Payroll

Providing payroll services that comply with ever-changing regulations and meet evolving employee and employer demands is no easy task. Paychex's Tom Hammond discusses common payroll considerations for CPA firms.