The Rise of the Machines

Size: px

Start display at page:

Download "The Rise of the Machines"

Kristopher Stephens
5 years ago
Views:

Tank 2012, 2014-2016 Top 100 Most Influential People by Accounting

2 About Joe Woodard About Woodard TM Professional Education Professional Networks Professional Coaching Technology Consulting Authorship/Think Tank 2012, Top 100 Most Influential People by Accounting Today 2008 Top 40 Under 40 Up and Coming Thought Leaders by CPA Practice Advisor

3 My Rubik s Cube Need

4 My Options Find and Pay Someone with the: Knowledge (Intellectual Property) Skills (Learned/Conditioned Dexterity) Locate the Information and Develop Lay Abilities Leverage Available Technology ( There s an App for That ) Remove Myself and All Humans from the Equation (Routine Process + Robotics)

5 Rubik s Cube Robot

6 What if my unsolved Rubik s Cube represented a threat to my ability to survive or a hindrance to my ability to thrive? my only option for solving my Rubik s Cube is a small band of experts with tightly controlled answers?

7 The Grand Bargain A World without Ready Access to Information No Access to Technological or Automated Solutions The Grand Bargain with the Professional

8 The Grand Bargain In return for access to a specialist s extraordinary knowledge in matters of great human importance, society has granted them: A mandate for social control in their fields of specialization A high degree of autonomy in their practice A license to determine who shall assume the mantle of professional authority A Social Monopoly

9 A Glance at Technology Innovations Medical

10 A Glance at Technology Innovations Medical

11 A Glance at Technology Innovations Medical

12 Journalism Global Voices a Network of over 1,200 Non- Professional Writers and Editors A Glance at Technology Innovations Lay Submissions to The Huffington Post AI Compiled and Authored Articles deployed by The New York Times and The Associated Press My Journalist Friend Deana

13 A Glance at Technology Innovations Journalism

14 The Impact on the Accounting Profession The Impact on the Accounting Profession A Brief History of Bookkeeping

15 Client A Brief History of Bookkeeping Write Up Low Bookkeeping Involvement by Client High

16 A Brief History of Bookkeeping PC Revolution Bookkeeping Involvement by Client High

17 Outsourced A Brief History of Bookkeeping Bookkeeping Low Bookkeeping Involvement by Client High

18 Power users of A Brief History of Bookkeeping Accounting Solutions Bookkeeping Involvement by Client High

19 We re Swinging Where are We Now Back Bookkeeping Involvement by Client High

20 Outsourced Bookkeeping 2.0 The Impact of Technology on Bookkeeping Services Evolution of Cloud Technology Ubiquitous Internet Automation of Front End and Data Entry Process Automation of Back End Processes and Workflow Significant, Game-Changing Reductions in Data Entry

21 Automated Accounting The Impact of Technology on Bookkeeping Services Phone Capture Scanners Scraped , etc. Financial Institutions Bank Feeds to GL Credit Cards to GL Lending Companies to/from GL Mobile Apps and Imaging Devices Automation of Bookkeeping Process Integrated Operational Systems Point of Sale Warehouse Field Services E-Commerce, Etc. Outsourced and Integrated Processes Vendor Bills Customer Invoices Payroll Sales Tax, Etc.

22 How Far Might this Go? The Technology Story Doesn t End with Increased Efficiencies and Higher Profitability

23 Will automation become so accurate that bookkeepers no longer need to validate or complete the data? How Far Might this Go? Will tax preparation become automated? Will apps eventually provide accurate and researched tax planning? Will software solutions conduct the leg work of assurance services with cross referenced work papers and send the financials for partner review and signature?

24 How Far Might this Go? HAL 9000

25 Watson IBM s Real Hall 9000 Scaling the greatest minds to every mind.

26 Watson IBM s Real Hall 9000 Scaling the greatest minds to every mind. Every professional on the planet can be as good as the best professional in their field with the help of a cognitive assistant.

27 About Watson Beat Jeopardy's Two Leading Champions At the time, Watson ran on a computer the size of a household bedroom Is now the size of 3 pizza boxes By 2020 will fit into mobile devices Can Diagnose Patients, Prepare Treatment Plans and Conduct Medical Research Can Analyze Billions of Lines of Big Data to Perform Management Consulting Services and so much more!

28 True AI Innovation Automation Next 5+ Years Leverage the New Technologies to Greater Effectiveness and Efficiency What is Our Response? Next 20+ Years Stay Ahead of the Machines (Interpretative, Socialized and Specialized Services) Decades from Now Adapt in Ways No One Can Predict

29 Elevating the Model The Impact of Technology on Bookkeeping Services Since the client isn t paying employees to input data Since you aren t paying employees to input data Accounting Professionals Focus On: Maintaining the technology stack Completing and organizing the data Validating and verifying the data Scaling the practice and doing so at higher margin Interpreting the data Transforming Small Business

30 The Grand Bargain at Jeopardy Access to Information in a Format Anyone Can Understand Automation of Process with AI and Machine Learning The Permission to Use that Information Legally in the Service of One s Self or Others

31 Can Just Anyone Perform a Medical Procedure?

32 Can Just Anyone Provide Legal Advice?

33 Can Just Anyone Present Financial Statements?

34 Curators of Knowledge Privatizers of Knowledge Capitalizers of Private Knowledge Is this a Bad Thing? Imagine human beings across the world rich and poor having direct access to living, evolving treasure-troves of help, guidance, learning, and insight that will empower them to live healthier and happier lives.

35 The Future Professional The best and the brightest professionals will endure the longest those who can perform tasks that cannot or ought not to be replaced by machines, and tasks that we prefer to leave in the hands of human beings.