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Finance or accounting major? Change while you still can
Posted on 3/6/16 at 8:37 pm
Posted on 3/6/16 at 8:37 pm
LINK
Engineers, you have a little while longer, but the machines will come for your jobs, too.
quote:
According to the Oxford paper and subsequent research, employment prospects vary significantly by industry. In health care, for example, where human interaction is vital, automation threatens fewer jobs than it does in the labor market as a whole. Taxi and truck drivers, though, face a bleak future given recent advances in self-driving cars. Among better-compensated professions, the Oxford researchers took into account software that can analyze and sort legal documents, doing the work that even well-paid lawyers often spend hours on. Journalists face start-ups like Automated Insights, which is already writing up summaries of basketball games. Finance stood out in particular: Because of the degree to which the industry is built on processing information — the stuff of digitization — the research suggested that it has more jobs at high risk of automation than any skilled industry, about 54 percent.
Engineers, you have a little while longer, but the machines will come for your jobs, too.
16
Posted on 3/6/16 at 8:39 pm to Jim Rockford
its shocking what I find out on a daily basis what engineers are ignorant of, I think it's turned into a weed out degree to see who can handle projects etc.
Posted on 3/6/16 at 8:42 pm to Jim Rockford
quote:
accounting major
quote:
Change while you still can
Change to it? Nothing in your post suggest getting out.
Posted on 3/6/16 at 8:43 pm to Jim Rockford
Wasn't it the belief around the middle of last century when everything was going to be so automated that everyone's work load would be cut way down and we'd all have a lot of free time?
Posted on 3/6/16 at 8:47 pm to Jim Rockford
accounting will be just fine. Firms are hiring up assloads of new grads and alot of partners are starting to retire in every firm. I think my career choice is just fine.
Posted on 3/6/16 at 8:54 pm to Jim Rockford
Disagree, and I spend a good bit of time thinking about this. I used to be more of a pessimist on technology, and I still am in many ways, but not necessarily in the workplace for professional jobs. What it comes down to IMO is that it really depends on whether or not you're doing repeatable grunt work.
The jobs that will be automated in accounting are going to be more of the types of tasks that don't require a B.S. or CPA. Those guys will still be in demand for quite some time.
The same thing applies to Finance. Sure, technology helps you automate tasks like portfolio management, tracking pricing and valuation data, Monte Carlo simulations, etc. But I've come to find out that the more analysis that is done in high finance in a more efficient way, the more information overload we get, due to those efficiencies, etc.
So a portfolio manager, a C-level guy at a client looking at a deal, etc., is going to be fed a lot more information that makes them over-analyze the shite out of something, but there will still be a need for people to help analyze and truly digest it.
There is still a lot of art to finance and even accounting, based on my experience. And let's not forget how relationship-driven both of these professions are (NB4 joke about accountants).
The jobs that will be automated in accounting are going to be more of the types of tasks that don't require a B.S. or CPA. Those guys will still be in demand for quite some time.
The same thing applies to Finance. Sure, technology helps you automate tasks like portfolio management, tracking pricing and valuation data, Monte Carlo simulations, etc. But I've come to find out that the more analysis that is done in high finance in a more efficient way, the more information overload we get, due to those efficiencies, etc.
So a portfolio manager, a C-level guy at a client looking at a deal, etc., is going to be fed a lot more information that makes them over-analyze the shite out of something, but there will still be a need for people to help analyze and truly digest it.
There is still a lot of art to finance and even accounting, based on my experience. And let's not forget how relationship-driven both of these professions are (NB4 joke about accountants).
This post was edited on 3/6/16 at 8:57 pm
Posted on 3/6/16 at 8:57 pm to Jim Rockford
quote:
Engineers, you have a little while longer, but the machines will come for your jobs, too.
Those machines have to get built somehow, brah.
Posted on 3/6/16 at 9:02 pm to PrivatePublic
Machines will build the machines.
Posted on 3/6/16 at 9:04 pm to heartbreakTiger
I'm in accounting as well and it seems like firms are hiring more than ever 
Also I am in auditing and machines can't use professional judgment.
Also I am in auditing and machines can't use professional judgment.
This post was edited on 3/6/16 at 9:06 pm
Posted on 3/6/16 at 9:06 pm to Jim Rockford
quote:
Machines will build the machines.
And who will build those machines?
Posted on 3/6/16 at 9:09 pm to East Coast Band
quote:
Wasn't it the belief around the middle of last century when everything was going to be so automated that everyone's work load would be cut way down and we'd all have a lot of free time?
not in a capitalist society.
it would take a top down mandate to do your post in real life.
Posted on 3/6/16 at 9:12 pm to CelticDog
Apparently Skynet will build those machines. Lol as long as you still need wireless comm's I feel secure in my line of work. Even as we create virtual everything in the Network.
Posted on 3/6/16 at 9:17 pm to PrivatePublic
Other machines. It will eventually be a closed loop, with us on the outside looking in at a system too complex for us to be understand, let alone be part of.
Posted on 3/6/16 at 9:22 pm to Jim Rockford
How will robots affect the porn industry?
Posted on 3/6/16 at 9:22 pm to heartbreakTiger
quote:
accounting will be just fine
They'll just keep implementing new standards and regulations to make auditing and taxation even more complex than it needs to be so accountants will never be out of a job, haha.
Posted on 3/6/16 at 9:23 pm to Mr Personality
Posted on 3/6/16 at 9:31 pm to Jim Rockford
CPA's will always be needed. A/P clerks might be in danger. CPA's use a great deal of judgment.
Posted on 3/6/16 at 9:32 pm to Jim Rockford
That article is longer than a fricking book report
Posted on 3/6/16 at 9:45 pm to Jim Rockford
The paper by Frey and Osborne has been out for a couple of years now.
It's findings aren't exactly startling. Creativity, communication skills, and the ability to understand different cultures is already important. They'll just become more important as computing power and robotics improve.
Where people go wrong is when they assume creativity just "happens." Creativity is 99% expertise and accumulated skill in a given area.
It's findings aren't exactly startling. Creativity, communication skills, and the ability to understand different cultures is already important. They'll just become more important as computing power and robotics improve.
Where people go wrong is when they assume creativity just "happens." Creativity is 99% expertise and accumulated skill in a given area.
This post was edited on 3/6/16 at 9:46 pm
Posted on 3/6/16 at 9:54 pm to MikeyFL
Autor: Why are there still so many jobs?
quote:
ATMs were introduced in the 1970s, and their numbers in the US economy quadrupled from approximately 100,000 to 400,000 between 1995 and 2010. One might naturally assume that these machines had all but eliminated bank tellers in that interval. But US bank teller employment actually rose modestly from 500,000 to approximately 550,000 over the 30-year period from 1980 to 2010 (although given the growth in the labor force in this time interval, these numbers do imply that bank tellers declined as a share of overall US employment). With the growth of ATMs, what are all of these tellers doing? Bessen observes that two forces worked in opposite directions.
First, by reducing the cost of operating a bank branch, ATMs indirectly increased the demand for tellers: the number of tellers per branch fell by more than a third between 1988 and 2004, but the number of urban bank branches (also encouraged by a wave of bank deregulation allowing more branches) rose by more than 40 percent.
Second, as the routine cash-handling tasks of bank tellers receded, information technology also enabled a broader range of bank personnel to become involved in “relationship banking.” Increasingly, banks recognized the value of tellers enabled by information technology, not primarily as checkout clerks, but as salespersons, forging relationships with customers and introducing them to additional bank services like credit cards, loans, and investment products.
This post was edited on 3/6/16 at 9:57 pm
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