Technology and change are good, Right? Business is experiencing more change and upheaval now than at any other point in its history. That may be good for profits, but these advances in technology are not just affecting our business life, they are also affecting our personal life. Experienced employees cannot keep up and are becoming obsolete. Some can reinvent themselves; some are forced to lower their lifestyles and change jobs or worse.
What is more, the changes will not be slowing down any time soon. In fact, they are getting faster and faster every day. And they have not been brought about by war, famine, or political upheaval, but by a phenomenon we have never seen before: the internet.
Most importantly, the fact that the internet can leverage our visibility offers huge opportunities. We can now compete not just against other accountants in our local town, but also against companies who offer slightly different, or related, services around the world for pennies on the dollar.
Within the accounting profession, Xero and QuickBooks are replacing bookkeepers, while apps and other technology are halving the manual work accountants need to carry out. However, at the same time the apps, along with other automated platforms while enabling accounting practices to deliver excellent service, which also require less accountants to do it with.
The Zero-Touch World as coined by Forbes magazine will change all our lives. We are moving in the direction of Zero-Touch Sales, Zero-Touch Products, Zero-Touch Customer Service, Zero-Touch User Interfaces (facial recognition), Zero-Touch Tax Returns.
Yes Zero-Touch Tax Returns. If you have not noticed, governments through the use of technology, are eliminating the need for cash. We will soon live in a completely digitized world where every transaction will be catalogued and determined as income or a deductible expense. The IRS will know before you do, how much you owe before you go see your accountant. You will not need an accountant.
There is a war going on right now between Congress and Bit-Coin operators. Why, the government cannot track Bit-Coin transactions due to it’s technology. I am all for paying our fair share of taxes. But I am against the government knowing every minute detail of my life.
Technology slowly replaced the bookkeeper will eventually replace the accountant. When technology becomes aware and we reach the age of Artificial Intelligence, what will happen to those folks who create today’s technology? They will be replaced of course.
According to Forbes, the following 20 jobs will be eliminated due to technology. Click this link to read the reasons on each one.
- Farmers, Ranchers, and other Agricultural Managers
- Postal Service Mail Sorters, Carriers and Clerks
- Sewing Machine Operators
- Switchboard Operators
- Fast Food Cooks
- Agricultural Workers
- Data Entry Keyers
- Word Processors and Typists
- Door-to-Door Sales Workers and News and Street Vendors
- Food Service Managers
- Electrical and Electronic Equipment Assemblers
- File Clerks
- Prepress Technicians and Workers
- Computer Operators
- Postmasters and Mail Superintendents
- Office Machine Operators
- Pressers, Textile, Garment, and Related Materials
- Petroleum Pump System Operators, Refinery Operators, and Gaugers
- Loan Interviewers and Clerks
Maybe its time to go back to college and do try something different.