Automation Anxiety is a term that implies ‘the fear of robots taking over our jobs.’
56% of Americans fear that automation eradicates more jobs than it creates. All businesses are going through a digital transformation in today’s age. The automated office is the norm. Companies can’t stay away from it for fear of falling behind the competition. Every-growing technology tries to justify this fear. But we can keep away from such risks by staying prepared.
Here are four skills that can help accountants keep up with the change and add more value at the automated office:
Humans have reserved the capability of Emotional Intelligence, regardless of the complexity of modern Artificial Intelligence systems. An accountant needs to maintain critical skills like being fast, accurate, and organized. But skills like empathizing with the critical needs of your organization or client and prioritizing are abilities only a human can constantly excel in. Emotional intelligence cannot get automated. As the job of an accountant becomes more advisory, its importance only goes higher in value.
In the future, a vital quality that recruiters will look for in accountants is their communication skills. A good accountant can get a holistic grasp of the financial intel and advise the stakeholders intuitively. Only active accountants can provide an accurate answer for a casually phrased question about a data set.
Accountants are creative professionals irrespective of an automated office or not. Any new techniques and approaches can aid in evaluating client needs and creating solutions to problems that could otherwise get overlooked. With substantial data documented and processed, more effective solutions can get hidden in not-so-straightforward methods. Accountants can even create breakthroughs in accountancy methodologies by being open-minded and inventive in their approaches.
Many find accounting a monotonous and repetitive task. Long paths become short and existing paths become fun once you start being creative. Being creative also helps accountants adapt better to changes in their profession. Don’t fret; anyone can develop creativity as a skill. Start by understanding the needs of the clients and stakeholders – do more than what was asked of you. Explore new technology tools to help you perform work faster. Soon, you are more than what any computer could replace.
The tools, infrastructures, rules, and bosses fluctuate. The only constant in life is ‘change.’ One can program a machine to do a task in a particular way, but a human can adapt. Human beings can also sense change rising on the horizon and prepare accordingly ahead of time. Being an accountant who is always on their toes, keeping up with new trends, and thinking about the future will make you invaluable.
Accountants today need to keep learning and evolving to perform common accounting tasks. Fluctuating tax laws, company policies, and regulations form the catalysts for change. With new technologies, our organizations are sure to hop onto the automation train enabling automated offices. We’ll be left in the dust if we don’t hold on. But being distinctly adaptable and inventive pushes you to the front of the competition (including AIs and computers), possibly even influencing coming generations of accountants.
An accountant often needs to rack their brains for some number-crunching. The figures don’t always add up, or new systems might cause errors. Either way, problem-solving skills are crucial for a competent accountant. Companies often face financial issues. Many of them end up being the responsibility of accountants or the CFO.
There are situations where the leaders turn to accountants for financial advice. Being adept enough to give quality guidance means you’ve created a niche for yourself no software can fill. A machine-learning algorithm might be able to give you analytics and predictions. But it won’t be capable of lateral thinking.
Understanding that change is inevitable and adapting to it is the only option that can change the mindset of budding accountants. This awareness will lead anyone into the future with stability and resilience.
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