Exponential Times Trigger Innovation In Accounting Technology
In this report, we will highlight key insights and strategies generated at the 2019 AICPA/CPA.com Executive Roundtable. The 10-year anniversary meeting provided a bird’s eye view of how the profession is evolving, with an underlying theme of exponential times fueling a wide array of technology discussions. The future of audit, voice-activated artificial intelligence and predictive analytics, for example, were explored in-depth, with attendees discussing their expected adoption rates, development tracks, and disruptive abilities.
The Rise of Artificial Intelligence
In this report, we will outline what artificial intelligence is, as well as the subcategories of machine learning and deep learning. We’ll place the technology in a historical context, and show why, given its decades-long lifespan, we are at somewhat of an inflection point, at least within the profession. Most importantly, we’ll delve into a variety of ways firms are already using AI and ML-based products. To conclude, we’ll peer into the future to examine not only how AI is transforming the way firms do business, but how accountants can capitalize on these impending shifts to gain a competitive advantage.
This past May, the AICPA and CPA.com in partnership with the Wall Street Blockchain Alliance, held the first Blockchain in Accounting Symposium. The event was a one-day brainstorming session that brought together more than 60 leaders in accounting to map out how the accounting profession can advance blockchain as a united front. This emerging technology trends report provides insights and key initiatives discussed at the Symposium as well as provides further blockchain definitions, practical application in accounting, and identifies where blockchain is at on the hype cycle.
Executive Roundtable Summary
The Executive Roundtable brings together the best, brightest, and most experienced minds serving the accounting profession to cooperate, compete, and exchange ideas on how to best serve accountants and their clients. It is the exclusive convening of C-Level executives from technology companies servicing the accounting profession. This report is a synopsis of trends identified at the 2018 meeting.