How to Prepare for a Robot-Automated and AI-Enhanced Future in Accounting

• OVERVIEW

A recent MIT-Boston Consulting study of over 3,000 companies found that 80% of them believed AI (Artificial Intelligence) would give them a competitive advantage. What's more, we are already seeing the use of AI and RPA (Robotic Process Automation) creeping into the business world, and more specifically into various accounting functions. This is one change that will radically impact many white-collar jobs. And that change will happen in the next few years, not ten or twenty years from now.

• LEARNING OBJECTIVES

After this session you will be able to:

• Define AI and RPA as they relate to accounting
• Pinpoint situations where they can be used in your organization
• Begin to plan for future applications
• Identify the new skills needed to succeed in accounting in the future
• Create an action plan for acquiring needed skills

• WHY SHOULD YOU ATTEND

This session will begin with a definition of AI and RPA, with special reference to how they apply to account practices. Then the session will look at how these functions are being used in accounting as well as some projects on how they might be used in the future. The session will then turn to give practical information about the skills that will be in demand with relation to the use of these new technologies in accounting as well as some recommendations on how attendees can acquire those skills.

• AREAS COVERED

• Explanation of Artificial Intelligence (AI), Robotics Process Automation (RPA) and bots as they pertain to accounting
• Real life examples of where AI, RPA, and bots are being used today
• Look at the skills you will need to work with this new technology
• Impact of AI, RPA, and bots on accounting and accounts payable function
• The type of professionals that will be in demand in the future

• WHO WILL BENEFIT?

• Accountants: controllers, assistant controllers, accountants, accounting managers, GL managers
• Auditors: company internal auditors, accounting firm auditors
• CFO
• Procurement
• Accounts payable: Managers directors, supervisors, and professionals
• Accounts receivable: Managers directors, supervisors, and professionals
• Other