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Disruptive technologies: risks and opportunities

Disruptive-technologies

How do we future proof business when technology is rapidly changing the way we work?

Facing a disruptive future

Thanks to technological change, a future with robots and sprightly centenarians isn’t unrealistic – we’re already seeing it. As technological change gathers pace how will business keep up?

This paper considers the potential impacts of technological disruption on New Zealand and our preparedness to take advantage of this disruption as a nation.

Disrupting our nation

The structure of New Zealand’s economy is being challenged by changing technology along with our role within the global economy. Current business models aren’t sustainable making the need for change urgent.

Public debate on the appropriate role of technology in New Zealand’s economy and society is needed to ensure we address these issues as a nation.

Chartered Accountants Australia and New Zealand values the need to understand the risks and opportunities associated with disruptive technologies, challenge the existing paradigms and use this knowledge to make informed decisions on the best way to navigate this sea of change.

Impact on the profession

Technological advancement has historically been associated with displacement of blue collar workers, however, white collar professions, such as accountants, are also affected.

However, as compliance-based roles become more automated, it’s likely skilled staff will be freed up to focus on broader business challenges such as big data instead.

By anticipating the potential impacts of technology on our profession, and being aware of where the opportunities may lie, technological change could potentially be the most exciting and empowering opportunity to face our profession, ever.