Getting ahead of the curve on emerging technologies
Emerging technologies, like machine learning and automation, are disrupting the business status quo. 415 Group Associate Mark Manwaring, CPA, explains how this could revolutionize the workplace, particularly in the accounting industry.
I’ve always had an interest in technology that helps us as human beings do things better. When it comes to emerging technologies, the concepts outlined in this article will help accounting professionals and their clients improve efficiency, while also saving time and money.
Machine learning is one of the top things that will really push our industry forward. It’s going to help us look at data and give us information that we can use to better serve our clients, particularly manufacturers, who rely on an enormous amount of data.
Audits will become much faster. We can allow AI (artificial intelligence) to take over some analytics and data mining. It won’t completely remove the human element from our work; it will enhance it. While I specialize in audits and assurance, I also see potential benefits on the tax-side of our business with cloud accounting and moving elements more online.
All of our clients could benefit from emerging technologies to some extent, regardless of their size or industry. It’s something that every business needs to look into, because if you don’t, you’re going to fall behind.
At 415 Group, we can help our clients explore these technologies and find ways to implement them that will enhance our relationships. Our group of IT experts deal with these technologies on a daily basis and can help clients decide what is right for them; technologies that can help them run their businesses more efficiently and effectively.