Putting CPAs, Accounting and Finance Professionals in the Driver's Seat of the Data-driven Economy

We have a saying that every challenge is a frustrated opportunity. This has never been truer than in the area of artificial intelligence (AI), Big Data, cognitive computing, and Blockchain.

Ever since the Oxford study of automation of employment put the odds of automation of accounting, auditing, and tax at ninety-four percent, there must be a headline per day about the coming demise of accounting and finance. We have decided to flip that into an opportunity. What if we could use that artificial intelligence to augment our profession? To add the power and speed of these machines and code to supplement the deep domain expertise of accounting and finance professionals and apply it to help our organizations, companies, and clients?

Can you fly that thing? Not Yet!

I am imaging a future where we can download these skills like the scene in the Matrix where Trinity and Neo are on the way to rescue Morpheus. Neo asks her is she can fly the helicopter, to which she replies, "Not yet." She proceeds to download a set of new skills and you can watch to see what happens next...

That is what we hope to accomplish with our latest partnerships with IBM and Burrus Research at the Business Learning Institute (BLI), a subsidiary of the Maryland Association of CPAs (MACPA). We are building a portfolio of learning in new interactive, cognitive and nano-learning formats that will allow finance and accounting professionals to learn more in less time and acquire the critical skills needed in the age of artificial intelligence (AI).

New skills for the new age of AI, Big Data, and Cognitive Computing

We started with the critical competency of anticipation and a proactive, future-focused mindset and our partnership with Burrus Research to create The Anticipatory Organization?: Accounting and Finance Edition. This revolutionary learning system will jump start your ability to anticipate and learn critical competencies like strategic thinking, external awareness, vision, continuous learning, innovation, creativity, problem solving, prioritization, business acumen, decisiveness, influencing/persuading, emotional intelligence, consensus building, collaboration, inspiration, risk management, and immediately apply it to your own situation at work.

We used our learning from The Anticipatory Organization? to identify the next set of skills that will be critical for accounting and finance professionals - data analytics, data science, artificial intelligence (AI), and an understanding of these emerging technologies which are all based on the hard trends of these exponential technologies.

If it can be done, it will be done and if you don't do it, someone else will. - Daniel Burrus

Applying the Anticipatory Organization?skills for finance and accounting

Here is how we applied our 'anticpatory' learning and framework to work with IBM on this exciting new project.

• Artificial intelligence (AI), Big Data and cognitive computing are hard trends and future facts that we can’t ignore.
• IBM was featured in innovation and disruption of our profession with KPMG and H&R Block using Watson for audit and tax.
• We have an imperative to seek out and partner with the disruptors and innovators, to benefit our members and clients.
• IBM has a platform of innovative learning - complementing our future-ready portfolio - and invited us to partner in this area.

The IBM - MACPA - BLI Strategic Partnership

This is why we are excited to announce our strategic partnership with IBM (See Press Release - IBM Partners with Maryland Association of Certified Public Accountants to Train Accounting and Finance Professionals in AI and Data Science) to upgrade the accounting profession and prepare accounting and finance professionals for future skills in artificial intelligence (AI), Big Data and cognitive computing. 

"IBM will provide an advanced cognitive and data skills platform to accounting professionals to more quickly acquire data science, business analytics and AI skills. By acquiring cognitive skills, accounting professionals can play a bigger role in guiding digital transformation within their organizations. The partnership will transform how accountants work, but also how they learn -- from in-person classes in traditional disciplines to hands-on cognitive learning that will provide skills to extract insight from the sea of data."

This new advanced cognitive and data skills platform complements our current efforts at BLI to help accounting and finance professionals be future ready with programs like the Anticipatory Organization?: Accounting and Finance Edition, MBAexpress, 8-Hour MBA and our Controller’s Series. All of these programs are designed to provide the critical 'success skills' for accounting and finance pros to thrive in these disruptive times. They are also available to individuals and enterprises in multiple learning formats - on-site, e-learning, instructor-led, webcast, public seminar, and keynote formats (See our catalog here).

An important part of creating a future for accounting and finance professionals is providing them the opportunity to gain the necessary growth skills to avoid disruption. We’ve seen what IBM can do with automating data-driven businesses, and we are excited to advance our century-old mission of equipping members with the most advanced skills needed to be competitive in tomorrow’s job market. We look forward to adding the IBM curriculum to our existing portfolio of future-ready skills.

When they ask you if you are a future-ready finance and accounting professional that has the skills of anticipation, artificial intelligence (AI), Big Data, and cognitive computing - you should respond Not Yet!

More posts and resources:

Anticipation: The Missing Competency for CPAs, Finance, and Accounting

AI is Coming Faster Than You May Think

It's time to make Watson (as in IBM) your friend

Our journey to becoming The ANTICIPATORY ORGANIZATION ?

Creating the future-ready firm at the Digital CPA Conference

TOM HOOD, CPA.CITP.CGMA is considered one of the most influential thinkers in the CPA Profession and the CEO of the Maryland Association of CPAs (MACPA). Tom is also the founder and CEO of the Business Learning Institute, the innovation and learning affiliate of the MACPA, a leading talent development and strategy organization for CPAs, finance and accounting professionals in the US. They provide customized, competency-based curriculums and a portfolio of “success skills” and technical programs designed for the Finance and Accounting Profession.