According to a 2016 article by Oliver Griffin, artificial intelligence (AI) is no longer the stuff of science fiction and Hollywood movies.1 Griffin observes that works of film and fiction are often hooked on the rise of artificial intelligence (AI) and such tales are often apocalyptic—Blade Runner, Alien, Terminator—where mankind comes off badly.
Contrary to popular fiction, the author notes that in the “real world” AI is being spearheaded by Internet giants including Google, Microsoft, and Amazon, and our daily lives are increasingly affected by seemingly intelligent systems—Siri and Alexa, purchase predictions, news generation, etc.
What does this mean for accountants? By some predictions, bookkeepers have a 97.6% chance of losing their jobs as machines take over the number crunching and data analysis.2
According to Griffin’s article, Richard Anning, ICAEW’s IT Faculty, asks, “Will AI reduce the need for accountants? I think the answer is probably yes,” he says. “But you have to define what an accountant is. If you’re looking at some of the more repetitive bookkeeping or process-driven tasks, those are more likely to be subject to automation than the higher value tasks.” As such, a younger accountant entering the profession needs to understand the AI trend and develop skills to permit working with intelligent systems.
Of no surprise, Griffin finds ...
