ICAN President Mazi Nnamdi Okwuadigbo, FCA, has implored chartered accountants to evolve technological driven strategies for service delivery as clients no longer reside in countries but in the cloud.
Delivering his key note address at the 4th International Accountants’ Conference of Canada & District Society of ICAN at Edmonton, Canada, Mazi Okwuadigbo asserted that “the successful accountants of the future would be those that can leverage technology to improve their service deliveries”.
He pointed out that the distinction between tasks that can be done by human and machine have become blurred due to the impact of technologies such as Artificial Intelligence, Machine Learning, Robo Advisory Services and Blockchain Technology, that have caused a paradigm shift in the commercial world.
“Figuratively, accountants’ clients are no longer residing in Canada or Nigeria or Australia or the United States of America or any part of the world, but are now in the cloud”, the ICAN president said, pointing out that “the ability to meet clients in the cloud, understand their needs and proffering real-time solutions would be a major success determinant in the business world.”
He averred that accountants must regularly update their knowledge, improve their skills and put on a general positive disposition and attitude to be able discharge their enormous responsibilities. While admitting that deployment of new technologies in business and accounting poses serious threats to the professionals who fail to adapt, he pointed out that it opens numerous opportunities for those who embrace the changes. “The services of accountants would still be required but the manner in which such services are delivered would change materially”, he said.