Will Digital Transformation Kill Accountants?
Written by: I Kadek Viandra Diarsa & Nafizal Muhammad Effendy
Designed By: Dewi Wulandari
Entering the 4.0 industry era, we are faced with digital transformation in various industries. It is also supported by the COVID-19 pandemic which accelerates the digital transformation of businesses. The digital transformation brought many changes in the company’s business activities. The rise of digital transformation in business requires workers to have the ability to master technology. Workers who are not able to adapt will cause a mismatch between the abilities of the workers and the capabilities required by the industry. These workers will lose their jobs and structural unemployment will increase.
This is exacerbated by starting to replace human power with machines or better known as automation. Machines being more efficient than manual labor is the reason behind automation in digital transformation. Currently, there are several jobs that have been replaced by technology, for example, toll gate guards which have been replaced by cashless payment machines.
The service industry is also impacted by digital transformation. Several professions in this industry are threatened by digitalization, one of which is accountants. The accountant is often said to be replaced by artificial intelligence (AI) technology. It happens because AI can do journaling and bookkeeping more efficiently than accountants. Moreover, AI can avoid the occurrence of human errors in these activities.
However, the fact is that AI cannot completely replace accountants. Research conducted by Robert Half found that AI lacks creativity in solving emerging problems. That’s because AI does not have the intellectual intelligence and creativity possessed by humans. Accountants are more competent in dealing with problems that arise in the work.
The use of AI is a good opportunity for accountants. AI can reduce the task of accountants in bookkeeping, which is tedious and quite time-consuming. Accountants can focus on more strategic tasks that require creativity in their completion. Therefore, accountants can become more efficient and productive in doing their jobs to support the development of the company.
The use of technology can be said to not limit accountants, but free them up in jobs that are more strategic for the company. Therefore, accountants are required to be able to adapt to the digital transformation that occurs. It aims to increase efficiency and productivity in their work and continues to evolve as changes occur.References:
Half, R. (2019, Juli 2). How Job Automation Is Shaping the Future. Retrieved from Robert Half: https://www.roberthalf.com/blog/the-future-of-work/how-job-automation-is-shaping-the-future
Higgins, M. (2021, May 19). The Future of Accounting: How Will Digital Transformation Impact Accountants?. Retrieved from Forbes: https://www.forbes.com/sites/forbestechcouncil/2021/05/19/the-future-of-accounting-how-will-digital-transformation-impact-accountants/?sh=38e84fa953fb
Kenton, W. (2020, September 29). Structural Unemployment. Retrieved from Investopedia: https://www.investopedia.com/terms/s/structuralunemployment.asp