Robots and Technology Won't Replace Accounting Jobs

As the fear that accountants will lose their jobs due to technological advancements continues to grow, it's important to understand that innovation and advancements AI technology won't actually affect your career in a negative way. American economist Philip Aueswald stated in his book "The Coming Prosperity" that over the course of history, whenever machine and new tools substituted one type of human capability, new human experiences and capabilities emerged. There are consistent technological transitions throughout history that hold true to Aueswald's point. 

This same type of transition is happening within the accounting world, accountants are starting to become free from the monotonous and mundane data entry and spreadsheet tasks. Since these tasks will be automated, it will help accountants take their jobs to the next level and move from a "hindsight view" towards "predictive foresight". Accounting firms will be able to better understand patterns in their customer behaviors due to precise data analytics which will make it easier for both parties involved to take the best business course of action.

Accountants can now analyze, apply judgment and explain financial management to their clients, which is naturally more of an educational role. This new role will help customers better understand the intricacies of their accounts, making it easier for both parties to communicate with each other.

The accounting profession is more than bookkeeping and this is something that accountants should be most excited about. Simply put, robots and AI technology will not replace accounting jobs, they will enhance them. If you are an accountant, you should look optimistically towards the future of their careers.