The various forms of AI are poised to significantly change the accounting workforce. There are many benefits to using AI in the accounting functions, such as reduction of errors, the ability to process larger datasets and the availability of more data for decision-making.
With the cost of a data breach reaching over $2 million per instance, the C-suite can no longer leave cybersecurity solely to IT. CFOs are becoming more involved with defining strategy for data security with the technology leaders.
Read Jeff Thompson’s, Institute of Management Accountants CEO, article on how financial executives are taking a more proactive role when it comes to data security.
Accountants not only need to analyze data and interpret the results, but they need to tell the story behind the data.
” Stories aren’t just for entertainment. Powerful stories evoke emotion and can inspire us to take action and make changes in ways that a PowerPoint data dump can’t. Those just put us to sleep like a lullaby. “
Help your clients understand the data and better relate to the facts.
It seems that every merchant has some type of rewards cards. At first it was just airlines and hotels that had these programs, now the local yogurt shop has joined into the trend. With more and more of these rewards programs online and accessible through apps, they are a new target for hackers.
See this article in the New York Times for more details:
Artificial Intelligence has been used to play Jeopardy, respond to verbal requests to play music, and answer trivia questions. It is also widely used in the business workplace to automate processes and predict results. AI is evolving to understand further nuances in a users voice to detect emotions.
The Wall Street journal examines the possibilities of AI:
Welcome to my blog. This website is to provide resources to those teaching Accounting Information Systems and related courses. It will provide some resources for instructors to use to get started as well as news items that apply to the world of accounting and information systems.
Thank you for joining me!
Good company in a journey makes the way seem shorter. — Izaak Walton
Excel is THE tool for accountants. There is rarely a day that will go by without using Excel. Each Monday, this blog will post a time saving tip that is helpful. Enjoy the first tip!
In larger spreadsheets, I used to spend lots of time dragging the cursor down a column to extend a formula for hundreds of rows. This trick will save lots of frustration and TIME!
By simply double-clicking on the Fill Handle in the lower right-hand corner of the cell, the formula will copy down the column.
NOTE: The column to the left of the formula needs to contain data. If there is a blank cell in the column to the left, the formula will stop at that row. In other words, the data in the adjacent column must not contain empty cells within the data.
I hope this tip saves you as much time as it has saved me!