Dec 2018

Where are the gains

Is Digital Disruption in the Accounting profession just a load of garbage?

By: Odyssey Automation
Tags: Accounting World, Digital Disruption, Machine Learning

As we all settle into the thought of a break at Christmas time, it’s likely we’ll reflect on the year that was, which is only mid year in the Australian accounting compliance world.

More interestingly, what’s really changed this past year. The compliance world seems to be “same old same old”, more tax regulations have been introduced, but apart from that, it’s steady as she goes.

Even the “experts” are starting to mumble in the various social media channels about the lack of anything new to post about.

We’ve had plenty of research telling us that digital disruption and AI is going to disrupt accountants and bookkeepers, but the rise of AI and Machine Learning doesn’t seem to have impacted accountants greatly. Yes, we all use our mobile phones a bit more these days, some more obsessively than others.

So what’s happening really. Ask the experts and they’ll tell you billions of dollars are getting poured into other areas like blockchain. Or perhaps they’ll say “Rome wasn’t built in a day”. Actually I think the Romans could see their city being built, which is probably more than we can say for the impact of Machine Learning?

And how about these friendly assistants that were supposed to automate and learn. I’m not sure I’ve seen anyone take these seriously into their business. A bit like Alexa, Siri, or online translation programs. Nice, but not mainstream yet.

Like the boy who cried wolf, the accounting world is going to turn off if the same store is repeated over and over again.

So for the moment, just keep your head down and keep focused on the doing, and let the others talk about the future, at least until it arrives!

As the experts are now saying: Let’s hope the next four years brings out real change, not just more talk!

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