Automation is transforming the accounting industry in a major way. Thanks to advancements in artificial intelligence that include rapidly increasing AI’s ability to process data, learn from it and draw increasingly complex conclusions, accountants are seeing a major change in their field.
While robots slowly take over more and more of their tasks, accountants see increases in productivity but also a decrease in the total number of accountants needed to get the job done.
Like many industries, AI is not the death of the field but it does significantly impact the future employment opportunities available.
Although accountants will still be needed, they will have to refine their skills to the higher-level thinking that AI has not yet reached, while most of their current duties will be taken on by computers.
Read the Accountingweb.com here.