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BSBRES401A Analyse And Present Research Information

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BSBRES401A Analyse And Present Research Information

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Course Code: BSBRES401A
University: Victoria University

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Country: Australia

Questions:
You should consider these points:1. Will technologies eliminate the need for accountants?2. Will companies increasingly outsource their accounting services just as has happened with IT services.3. How will these technologies reduce costs/improve productivity/better service customers/win additional business. 

Answer:
The three technologies which are going to enable the changes are expansion of cloud computing, big data and artificial intelligence.
The capability of big data is that it has a frequency that data changes and then dissipate the data sources such as mobile devices as well as social media. Big data is essential insight to the customers, operational prices and key aspects of the business. The benefits of big data are providing better information as well as great operational efficiency. The companies those are using big data are Amazon, American Express, Netflix, Walmart and many others. The big data is changing the world by providing new business opportunities, better understanding the behaviour of customers and improved management. For example, Walmart is used big data to improve online shopping experiences with the search engine driven by the machine learning. Big data also improves security as well as law enforcements. Big data helps to prevent data breaches from being occurred and minimized damage to those data. It can predict where crimes are happened at provided moment.  The big data can predict the outcomes by use of algorithms for data interpretation. There is no need to eliminate humans for the accounting work. The companies increasingly outsource their accounting services because of cost savings and providing better core business functions. Hire of an outsourced accounting services is cheaper and cost effective. The big data technology can reduce cost, improve productivity and better customer services by making a better collaboration among the employees, partners and suppliers to boost business efficiency while cost reduction. The business performance is improved through strategic alliances and outsourcing.
Expansion of cloud computing is one of the technologies that can change the entire world. The cloud computing enables the companies to segment, supply as well as consume the resources at low cost and greater flexibility. It permits for higher performance infrastructures available on the mobile devices. It allows to provide effective business processes. The companies those are using cloud computing are Netflix, Toyota, Apple, Pinterest and Xerox. The companies are incorporated cloud technology with an ability to access distributed computer processing along with storage capabilities. The cloud technology enables the company to scale the computing solutions as it is growing. For example, Toyota is leveraged cloud computing for transforming car into connected platform. The car company is used of Microsoft Azure to host the applications that can connect car to Facebook. The cloud computing can eliminate need for the internal IT department. Moving to the cloud computing lets the technology experts to handle the technology such that it is focused on firm and clients. The companies are used of outsourcing as it is provided scalable solution and provides an opportunity to the firms to change fixed staffing cost into variable cost. With outsourcing, there is easy access to the technology for leveraging technology investment of outsourcing providers. The technology programs are migrated to cloud based platform and adopted Software as a Service (SaaS). Cloud computing technology helps to reduce cost and globalization increases better productivity. Choosing of right equipment help to reduce risk of costly errors and improve the way to do business. Web based technologies enable the company to improve the business operations.
The capability of Artificial intelligence is to create of intelligent machines that work like humans. The activities with the artificial intelligence are speech recognition, problem solving and learning. The companies those are involved into artificial intelligence development are Philips, Panasonic, Volkswagen and JPMorgan Chase. Artificial intelligence is changing the world by enabling people to rethink how to integrate of information, analyse the data and use of insights for improve decision making. It promotes new model for digital education and regulate the AI principles. Artificial intelligence is the future of accounting. Therefore, it is a possibility that this technology can eliminate accountants. It is required to outsource as it provides benefits of cost savings, and improves skills and qualifications to remain competitive. When it is outsourced of accountants, then it is an advantage for small and start up business. The technology can reduce the operational cost and involved team into all the activities, which can help to improve productivity. It can reduce labour cost, eliminate the errors and provide better customer services.
References
Chang, A, “Big data in medicine: The upcoming artificial intelligence.”. in Progress in Pediatric Cardiology, 43, 2016, 91-94.
Changming, C, “Research on the Application of Cloud Computing in Medical Field.”. in Big Data and Cloud Innovation, 1, 2017.
Dhar, V, “The Future of Artificial Intelligence.”. in Big Data, 4, 2016, 5-9.
Ouf, S, & M Nasr, “Cloud Computing.”. in International Journal of Cloud Applications and Computing, 5, 2015, 53-61.
Reddy, M, “Big Data and Current Cloud Computing Issues and Challenges.”. in International Journal Of Engineering And Computer Science, , 2016.
Sohangir, S, D Wang, A Pomeranets, & T Khoshgoftaar, “Big Data: Deep Learning for financial sentiment analysis.”. in Journal of Big Data, 5, 2018.

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