what an a.i.-powered workforce means for accountants

ready or not, ai is here to stay.

by rick richardson
technology this week

the complicated relationship that humanity has had with its technological creations throughout time has shaped many executives’ views on adapting to change and remaining in demand in any industry or profession. the various cycles of emerging technology always enlighten, frighten and inspire the masses until we adjust and change our mindsets to embrace the disruption.

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even though it has been present for decades, artificial intelligence (ai) is currently promoted as the dramatic change that threatens to upend our society. people are terrified as they try to imagine how it will change the way they live their lives, how they view their employment and what the future of their professions might bring.

the emergence of the desktop computer occurred in the 1990s, the internet and digital media in the 2000s, and streaming, the cloud and instant content availability emerged in the 2010s.

each transformation had a significant impact on many job markets in addition to how people consumed media. it is simple to understand where the healthy dosage of anxiety comes from because, in a capitalist society, it is assumed that most businesses will take advantage of every opportunity to maximize profits while utilizing the least amount of human resources. however, these significant changes also present a chance for individuals who can develop into new roles that will unavoidably be created during periods of widespread innovation.

your ability to contribute significantly is continuously redefined. the most crucial thing for people to do to protect themselves in their careers after any new digital wave is to be ready to upskill their current professional repertoire.

change is not inherently good or bad. it’s change, and humans have always adapted, for better or worse.

when a new standard is established, a revolution takes place, opening up limitless possibilities for what follows. in the case of the automotive industry, the enormous benefits of a technology-driven shift were obvious: workplaces became safer, decision-making became more efficient, and, despite the loss of traditional assembly jobs, a variety of new roles were created to meet needs for maintaining and improving the machinery as well as facilitating integration within the workforce.

it was the beginning of a new era as much as it was the conclusion of the previous one.

this can be observed in other industries as well. technology has improved our ability to work throughout history, but it has also allowed us to explore brand-new, interesting job choices that weren’t possible before.

automation and other technological developments make it possible to eliminate physically demanding or hazardous occupations, potentially increasing accessibility and allowing some individuals to move into positions that they find more rewarding and intellectually engaging.

the worry that ai would supplant humans in the workforce is exaggerated and bombastic. one of the fundamental things to understand about automation and ai is that these technologies can only function to their full potential when operating inside a set of predetermined parameters. in the ai-integrated future of work, some human input – and controlling the chaos that results from human nature’s unpredictability – will still be essential. still, it will be up to us to decide how we fit into that evolution.

while it’s normal and even prudent to be concerned about how automation and artificial intelligence will affect the way we work, we must also look forward to this future with hope. whether or not we’re ready for it, it’s coming.

many people will have more job possibilities if more people are consciously made to invest in their own ongoing growth. finding methods to integrate ai into your workflow to improve what you can already create will be the new “cheat code” for a career; doing so will be essential to being relevant in a job market that is changing quickly.

ironically, the rise of ai and automation in the white-collar sector will promote better emotional intelligence at work. ai and automation will improve white-collar workers’ talents by automating tedious and repetitive jobs, allowing them to concentrate on more complex tasks that call for creativity, critical thinking and emotional quotient (eq).

theoretically, because workers will have more free time to pursue initiatives that call for a higher degree of strategic thinking, they will have a higher possibility of discovering passion within their place of employment.

one of the most crucial skills white-collar professionals will need to have in the future is the ability to engage with ai tools and algorithms effectively. this requires developing digital literacy and technological competency. the acquisition of ever-valuable transferrable skills, such as adaptability, sophisticated problem-solving and interpersonal communication, will be stressed even more because of the changing nature of the work market.

the larger conversation on how to enter the new era without making the same mistakes as in the past should center on the significance of government, educational and commercial partnerships to enable a seamless transition to a future that embraces ai and automation.

it’s crucial to exert pressure on legislative authorities for regulations that promote and, in some circumstances, require firms to invest in job reskilling and upskilling projects as ai becomes the dominant emerging technology.

the discussion about the future of work in an ai-integrated society must include the development of easily accessible, lifelong learning opportunities to enable people to adapt to the changing job market and the support of strong pathways for blue-collar workers and others to build livelihoods in trades and fields projected to endure.

if a wider support system of retraining and relocation opportunities can enable a transition away from the costs of employer-provided health care and student loan debt, perhaps ai will one day be remembered as a catalyst for improvements in the freedom found through career and social mobility. one can only hope.

while it’s normal and even prudent to be concerned about how automation and artificial intelligence will affect the way we work, we must also look forward to this future with hope. whether or not we’re ready for it, it’s coming. we can influence a future where people and technology collaborate to build a more affluent and fulfilling society by acknowledging the potential benefits, preparing ourselves via constant learning, and lobbying for favorable policies.

the secret is to embrace change and seize the upcoming chances. we should all be prepared to embrace the idea that disruption and change always hold the promise of a better future.