The message is clear: Those who work in accounting and finance now need to have more advanced technology skill sets in order to be successful in the complex, data-centric environments we are creating. In finance, computers are already beginning to take over the more mundane tasks of extracting, organizing, and structuring data.
This doesn’t remove the human element, however.
Instead, humans are responsible for teaching computer programs and artificial intelligence (AI) what data to look for and how to organize the findings. Then once the computer has assembled the data, the human counterparts are freed to investigate anomalies.
But while humans are teaching the robots, they’ll also need to update some of their own skill sets in order to work effectively with the artificial intelligence on their team. These three skills are of particular importance to working with technology on your team:
- Fundamental data skills: data strategy and processing, proficiency in statistics, probability, and deductive reasoning.
- Storytelling: translating data into an accurate story of the business that audiences can understand.
- Ability to automate: implement automation, such as report automation in Microsoft® Excel, to reduce costs and improve efficiency.
Technology should be embraced, but certainly not at the expense of people. Machines working together with people have proven to be a much more effective team than either group working alone. Read more about how to better collaborate with machines by downloading our latest white paper, Making Technology Part of the Team.