Technology will evolve from screens, to seamless fully integrated extensions of ourselves.
As tasks done by Accountants and Bookkeepers will likely be automated, their role needs to evolve into consultants that guide the transition of their clients as they adapt to the new rules of the modern economy.
Trillions of sensors
It has been labelled the Fourth Industrial Revolution. A moment in time which will change the way our species exist. Trillions of sensors, all connected to the cloud on an ultra fast 5G network, will capture staggering amounts of data, feeding algorithms that power our lives. As the cost of hardware continues to plummet, and the power of technology skyrockets exponentially, our dependence on augmented computing will increase with every day.
Just like our household appliances are automatically factored into the design of our houses, so will the dozens of sensors that monitor and capture the data of our lives. They will be silent and invisible as they watch, listen and feel for what we are doing, capturing and feeding that data into algorithms that predict, plan and proactively make decisions for us. It is inevitable that after bouts of regulation, the tides will turn on tech giants who own and commerialse our personal data, shifting the power back to us. This will allow us to commercialise and leverage our own personal data for ourselves.
Outsource the tasks
The ones who will thrive in the future economy will be the ones who best automate the menial tasks, allowing the human resource to think on a whole new set of problems. Capturing, processing, formatting, and publishing data will be the work of robots. This will be enlightening for us as Accountants and Bookkeepers, as the big problems that require real creativity and human intuition will be the focus of all new ventures.
Our personal AIs will know everything about us, our business, our clients, and the economy. One centralised brain will manage the everyday tasks of Accounting and Bookkeeping, constantly updating with the latests algorithms that calculate and forecast the success of our clients.
The days of storing data in a paper ledger, catalogued and boxed up in the office garage will be a distant memory, as our roles will evolve into future focussed consulting.
5G Powered Cloud
The network will give an identity and voice to everything from our cars to the toaster. Sensors will be integrated into everything, and be continuously feeding data into the cloud.
Thousands of calculations will be made each minute by a constantly improving AI systems. There will be thousands of features of your personal assistants, available like any other SAS product. The smarts will be so in tune with us personally, we will trust it enough to make everyday decisions for us.
Mobile sensory technology
Mobile phones are already packed with over 20 sensors. This hardware will become a physical extension of our bodies, integrated into wearables such as contact lenses, rings and watches, and even implanted under our skin.