Robots Are Not Accountant Analysis

In our society today, technology has become a forefront in nearly every aspect of life. It has provided countless improvements that have made for more fast and efficient functions, such as the way in which we communicate with one another. Even so, there are some aspects of new technology that have many people feeling uneasy. In 2016, the Pew Research Center found that 65 percent of Americans believe that in 50 years, most human jobs will be taken over by robots. A group of workers that are especially worried are accountants. Accountants have already begun to see the changes and effects of automation in their jobs, resulting in them having one question looming over their heads like a dark cloud: Will robots take away all accounting jobs? Although

In her article “Robots Are Not Accountants”, Therese Tucker, the founder and CEO of financial automation solutions provider BlackLine, explains why robots will not replace human accountants any time soon. Tucker states that “Despite the enormous power and promise of digital solutions, there will always be a need for the human connection. Robots may replicate what people do, but they are unemotional, have no intuition and cannot be motivated in a common cause”. Her claim demonstrates that people’s emotions and connections are needed in the accounting business. Bernard Marr, an expert on big data, analytics, metrics, and improving business performance, stated in his article, “Machine Learning, Artificial Intelligence - And the Future of Accounting”, that “Robots are NOT going to replace all human accountants or bookkeepers”. He also states that “currently, there is no machine replacement for the emotional intelligence requirements of accounting work”. Marr brings out that as of today's current technology, none can replace the human connection and interactions that are vital to accounting work. Some of the "emotional intelligence requirements" mentioned here include face-to-face explanations, motivation and drive to reach goals, and human problem

Nafis Alam, a finance professor at Sunway University, pointed out that "robo-advisers are cheap and save time when creating a simple investment portfolio, but they may struggle to take the correct precautionary measures when markets become volatile, especially when thousands, maybe millions, of machines are all trying to do the same thing while operating at great speed." Alam's point that robots may struggle when being overloaded demonstrates that human accountants are needed for their critical thinking and problem solving skills. Chris Sheedy, a freelance writer based in Canberra, Australia, bring out that for accountants, "the real job is rising above the details and seeing meaning in information the company holds". An accountant's job goes beyond number crunching and calculations. They have to see the deeper meaning and analyze the information, something robots cannot do at this point in