THE FUTURE OF THE ACCOUNTING PROFESSION UNDER THE PRESSURE OF NEW INDUSTRY 4.0 TECHNOLOGIES: CLOUD, AI, BIG DATA AND BLOCKCHAIN

Abstract

New technologies have penetrated all areas of daily life, significantly changing the way we work and live. Accounting is no exception to the rule either. AI, Cloud, Big Data and Blockchain have entered this field as well, fundamentally changing the way this profession carries out its activity. A good part of the entry-level positions in accounting have disappeared, their tasks being taken over by AI. Now accountants can no longer remain stuck in the routine, having to adapt to new technologies. The future belongs to those who will understand how it works and can capitalize on the opportunities offered by technology. The accounting profession will have to be dismantled into its component parts, part of the tasks to be assigned to the machine, and then the remaining parts to be reassembled into a new profession of the future. This will have the purpose of advising the management from a financial accounting point of view, based on the accurate, complete and current data provided by the machines, in order to give the organization a strategic advantage in relation to the competition.

Keywords

• accounting profession; artificial intelligence; cloud; big data; blockchain
• industry 4.0.