Exponential Impact Has Arrived, Act Accordingly

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Seth Adler
11/14/2018

Rohit Amberker
Director - Royalties and
Content Operations
Microsoft

All research and market studies more or less conclude

Digital transformation is occurring at a pace never seen before. Technology and digitization is impacting every business from restaurants to grocery stores to cars.
Jobs are getting disrupted and new job categories are evolving in everything from manufacturing to autonomous cars and trucks to accounting
Very powerful technologies are emerging such as AI / ML, Robotics, Blockchain and they are already proving to be disruptive
The impact of all these technologies is exponential. A whole industry can be created or destroyed. Uber created a completely new industry; warehouse robots are completely replacing warehouse jobs.

Realities of today

Digital Transformation:

No matter how you define it, enterprise, business, function, leader and worker all must aggressively transform to be in a position to benefit from artificial intelligence

Cognitive and Process Jobs Disruption:

Enterprise, business, function, leader and worker must
work towards that new paradigm today

Emergence of powerful technologies:

AI/ML, Robotics & Blockchain have already disrupted
the enterprise

Exponential Impact:

Unlike ERP, Cloud & Mobile, AI does not offer iterative change

Studies indicate accountants and auditors have a 93.5% chance of being automated and hype-cycle news remains in full effect:

Digital business create more value and market rewards digital businesses. Unless traditional businesses digitize their operations, they will soon become irrelevant.

Digital Businesses Create More Value

Bots are clearly taking over manufacturing jobs and even with reduction in jobs, the manufacturing output continues to grow significantly. This is due to introduction of bots in the manufacturing industry.

The direction of economic growth

We are focused on process automation, anomaly detection, customer service and leveraging our known and dark data.

Applying Technology to Finance Operations
Automation

“The first rule of any technology used in a business is that automation, applied to an efficient operation, will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.”
~ Bill Gates

The numbers are in on where automation is having an empirical effect

And most importantly, the numbers are in on where job growth will occur. The industry already has a shortage of talent in BI, ML, Logic Reengineering and good old fashioned customer service:

New In-Demand Skills for F&A JObs*

Technology skills such as RPA, POwerBI, Machine Learning. R, etc.
Customer Obsession and Customer Empathy skills
Problem solving skills for bot Process and IT
Process + Logic Reengineering skills

Change in skills demand and composition

The tectonic plates are certainly already shifting. But the solutions have already made themselves apparent:

The fact that digital businesses create more value can be proven to Senior Management
Macroeconomic forces already showcase bot vs. carbon-based growth
There are proven case studies of how and where to make automation work in global corporate enterprise
The need for jobs of the future has already arrived
Build your enterprise accordingly