BSBRES401A - Analyse and Present Research Information
Added on - 08 Nov 2019
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Game Changing Technologies1GAME CHANGING TECHNOLOGIESStudent’s Name:CourseProfessor’s NameInstitutionLocation of InstitutionDate
Game Changing Technologies2TOPIC 1 Game Changing TechnologiesExecutive summaryThere have been evidences of the game changing technologies that have affected thetrends of the accounting and consultancy firms. Big financial companies are the first toembrace these technologies and therefore, change is a dairy aspect in these firms. The trendsare approximated to influence the provision of accounting services in the near future.Expansion of cloud chamber, optical character recognition and job automation in artificialintelligence are some of the technologies that companies have embraced in offeringaccounting services1. The report will, therefore, seek to research how these technologies aregoing to enable the changes in PWC, KPMG, Deloittes, and EY accounting firms.IntroductionEmbracing the game changing technologies for the PWC, KPMG, Deloittes and EYaccounting firms has been gradual and based on offering better services for the clients. Theendeavour has been accompanied by both positive and negative consequences. For theaccountants, the experience has been quite different because some have lost their jobs. Thecompany has however been able to advance in outsourcing and offshoring based on jobautomation and mobilized knowledge in accounting.Optical Character recognition (OCR) for the case of PWC, KPMG, Deloittes, and EYThe four companies use OCR for a variety of functions. For instance,PriceWaterCoopers (PWC) is the biggest firm that serves worldwide. Since the beginning ofthe 21stcentury the company has been running big data both in legal systems, in accountdetails and also receipts. The company uses Optical word recognition system in capturingthese character. Other companies such as KPMG, Deloittes, and EY operates in English,1Frey, C.B., Osborne, M.A., Holmes, C., Rahbari, E., Garlick, R., Friedlander, G.,McDonald, G., Curmi, E., Chua, J., Chalif, P. and Wilkie, M., 2016. Technology at work v2.0: the future is not what it used to be.CityGroup and University of Oxford.