By Helen Brand OBE, Chief Executive, ACCA
The second ACCA and IMA CFO Month starts today, and this year we are focussing on all things digital.
Today we live in an era of ‘digital Darwinism’, a time where technology and society are evolving faster than many organisations can adapt to the changes. This is one of the many underlying factors that led to the demise of stores such as Blockbuster and Borders. Yet technological advances continue to drive economic growth.
As trusted advisers to business, accountants and finance professionals around the world are expected to lead, not follow. The profession has historically been quick to identify and then exploit the huge potential of emerging technologies – from the earliest known records of commerce, to the earliest commercial computer systems.
Accountants’ enthusiastic use of the first programmable computers and widespread adoption of the spreadsheet helped to turn accountancy into the profession it is today; embracing of emerging technologies will turn it into the profession it aspires to be tomorrow.
Many new technologies have the capacity to influence the future of business and the accountancy profession, over the next decade and beyond.
ACCA and IMA’s latest report Digital Darwinism: thriving in the face of technology change, focuses on 10 technology trends with the potential to reshape the profession and business landscape significantly. These are developments that will change the way people live and work, and responses to them will determine the future success of individuals, organisations, and even countries.
The 10 technology trends that will have the potential to significantly reshape the business and accountancy landscape are:
- big data;
- artificial intelligence and robotics;
- cyber security;
- the cloud;
- payment systems;
- virtual and augmented reality;
- digital service delivery;
Over the coming weeks during CFO Month 2014 we will be looking at some of these trends in a little more detail. In the meantime, to find out more about the technology trends impacting on the accountancy profession, please read the full report.