Weekly Ledger 37: Top Stories in Accounting and Finance

March 21, 2017 Nvoicepay Staff Writer

Weekly Ledger 37- Top Stories in Accounting and Finance

Here's what's trending this week

Robots are Not Accountants —Accounting Today

In Therese Tucker's editorial piece for (@AccountingToday), Ticker urges accountants not to take the coming automation revolution as a threat to their future careers. Robotic Process Automation is one of many technologies entering center stage in financial services. But as Tucker asserts,"Despite the enormous power and promise of digital solutions, there will always be a need for the human connection. Robots may replicate what people do, but they are unemotional, have no intuition and cannot be motivated in a common cause. They're simply machines making routine work easier and more efficient."


Stop All the 'Hype' Talk: We've Only Scratched the Surface with Blockchain—VentureBeat

Shashank Dixit (@SHASHARK) for VentureBeat covers how the blockchain bubble hovering over Silicon Valley to deliver all its promised greatness is headed to burst. The upside? Not all that pressure is hype. Dixit shares why we must be patient for blockchain to deliver its aims, even if they appear far-fetched or futuristic: "But blockchain is not, by any stretch of the imagination, a fad. And it is definitely not overhyped. It will change the way the world does business just as much as the assembly line revolutionized manufacturing."


JPMorgan Software Does in Seconds What Took Lawyers 360,000 Hours—Bloomberg

The biggest U.S. bank has invested in document-reading software that will save the company's legal counsel hundreds of thousands of man hours per year as it speed-reads through commercial loan agreements. JPMorgan's Chief Operating Officer Matt Zames shares with Bloomberg how a third of the company's budget is allocated towards these new technology ventures. Hugh Son writes: "[Zames] expects savings from automation and retiring old technology will let him plow even more money into new innovations."


The Promise of Blockchain is a World Without Middlemen—Harvard Business Review

The possibility of what blockchain can offer in the near future has many hopeful for a day when middlemen are cut out and the little guy can directly compete with the big players. Vinay Gupta for Harvard Business Review harkens back to the original IBM database and how it has forever changed the process of storing and retrieving data. In a word, he asserts, blockchain is bringing us "decentralization."


From Automation to Empathy, AI Dominated the SXSW Conversation—Forbes

Artificial Intelligence and the imaginings of how it will take over the workplace in 30 years or so was the topic of conversation in South by Southwest's 2017 conference. Ray Kurzweil, renowned author and proponent of singularity, shared the stage with his daughter New Yorker Cartoonist Amy Kurzweil in a session called "Collaboration and the Future." In all the discussions of artificial intelligence, one thing was important—machine learning will adopt a sense of human empathy and emotional intelligence.


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