Is the workforce at risk?
An article in The Times on Saturday, considered whether technology will be replacing many of the jobs we currently do over the next ten years.
Interestingly, the sectors the writers thought most at risk were not just manufacturing and retail, but the law and finance. Their article suggests that many factories will become fully automated with only a handful of technicians to oversee them, but also more surprisingly suggest that 40% of all legal jobs could be at risk of automation, as many machines can tackle a number of the clerical jobs.
However, it is not all doom and gloom. The article points out that whilst technology has contributed to the loss of around 800,000 lower skilled jobs between 2001 and 2015, it has helped create 3.5m higher skilled jobs, paying more. In the legal sector, 31,000 jobs have been lost, but have been replaced by 80,000, most of which are higher- skilled barristers and solicitors.
So what can we do to help our clients?
We appreciate that the markets our clients’ operate in are becoming increasingly competitive and with cloud accounting on the increase the quality of the data we can use to help you understand your figures is on the increase. No longer are we just producing accounts showing the historic position of the company, but can access real time information to be able to help you make decisions based on the most up to date information.
Additionally, cloud accounting can help speed up your bookkeeping, leaving you more time to build your business.
The way we work is in all likelihood going to change, but by embracing new methods, we can ensure our businesses continue to grow.
If you are interested in reading the article in The Times please mentioned above, click here.