The rapid advance of technology has resulted in CPA firms hiring more nonaccounting graduates in order to integrate new tools into their practice.
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For example, one national firm leader reported that more than 25% of its new entry-level hires are science, technology, engineering, and math (STEM) majors (Allan Koltin, opening remarks at Advisory Board’s Winning is Everything Conference, Dec. 13, 2017, http://bit.ly/2wrh091 ). Specifically for the accounting profession, the integration of () with robotic process automation (RPA) can create intelligent virtual workers to improve productivity. On facing the challenge of , Barry Melancon, AICPA CEO and president, has said, “With the whole ramification of jobs in society is a huge issue, and those that embrace it will be the most successful” (Michelle Perry, “AICPAs Barry Melancon on the Challenge of Change in Accountancy,” ICAS website, Oct. 6, 2017, http://bit.ly/2Wajgkm ).
While is still an evolving technology, many applications have recently made impressive leaps. For example, computers can defeat chess champions, help drive cars, instruct drones to return automatically, provide medical diagnoses, perform as virtual assistants, and navigate vacuum cleaners through a furnished house. The applications for business involve training computers to do tasks employees can perform, learning from experiences and adjusting to new data, if needed. Currently, CPA firms can use intelligent robots to count inventories, inspect fixed assets, handle bank audit confirmations, and read contracts or other documents to generate meaningful insights.
Some CPAs may assume that, like big data or blockchain, is a relatively recent development. To the contrary, research started even before the creation of the Accounting Principles Board, FASB’s predecessor, in 1959. Subsequently, several subfields of have emerged, including , perception (vision and ), (
Alan Turing, who played a pivotal role in breaking Germany’s Enigma code during World War II, is considered by many as the father of
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