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June 2019 » Meeting the Challenge of Artificial...
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Paul Lin, PhD, and Tom Hazelbaker, CPA
The rapid advance of technology has resulted in CPA firms hiring more nonaccounting graduates in order to integrate new tools into their practice. For example, one national firm leader reported that more than 25% of its new entry-level hires are science, technology, engineering, and math (STEM) majors (Allan Koltin, opening remarks at Advisory Board's Winning is Everything Conference, Dec. 13, 2017, http://bit.ly/2wrh091). Specifically for the accounting profession, the integration of artificial intelligence (AI) with robotic process automation (RPA) can create intelligent virtual workers to improve productivity. On facing the challenge of AI, Barry Melancon, AICPA CEO and president, has said, “With AI the whole ramification of jobs in society is a huge issue, and those that embrace it will be the most successful” (Michelle Perry, “AICPAs Barry Melancon on the Challenge of Change in Accountancy,” ICAS website, Oct. 6, 2017, http://bit.ly/2Wajgkm).
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