Recently, I was catching up on some reading I had set aside and found an article about machines and computers artificial intelligence (A.I.) replacing people in the July 2017 Entrepreneur Magazine. The article was not trying to use scare tactics like a horror movie but was putting workers and executives on notice. The message was "People need to adapt faster than ever."
My first thought on reading the first paragraph of the article was this people vs. A.I. thing has been going on a long time. One of my favorite old movies stars Katharine Hepburn and Spencer Tracy; Desk Set from 1957. It is about this very topic - a computer moving into the research department of a network TV Station. Who knew that when I first saw this movie on the afternoon movie show after school decades ago in the 70's that it would be topic of my
future adult world? The movie is 61 years old and the topic of people vs.
computers is still relevant and upsetting to most of the population. (yes, I
do know that I just revealed that I love old movies especially with Katharine
Hepburn and Spencer Tracy and I do know that some of you will likely mock me
for the revelation-I guess we will see who reads the articles that I write)
The author mentioned that when machines that replaced people in the
manufacturing of products happened swiftly, many companies and employees were
unprepared. Many people a few years ago
thought that "office" jobs would not be affected. Wrong - here is a quote from
the article
"For example, were seeing A.I. technology
companies targeting the replacement of what's estimated to be up to 50 percent of current employees in the finance sector over the next 10
years. We would have considered these
types of jobs "safe" from automation only a few years ago."
The article has the same message in several ways. Times and jobs change,
and we must adapt quickly and efficiently to stay ahead of trends in our profession.
The author mentioned that 10 years ago we would not have thought taxi drivers
would be becoming obsolete, but Uber and Lyft have changed that industry
quickly. Those remaining taxi drivers
and the new Lyft and Uber drivers are looking at being replaced by autonomous
vehicles in the near future. Regardless of your personal opinion on
owning/using an autonomous vehicle...they are coming.
Many of our companies are doing more with
less. This will include using A.I. In
the long run this will effect the finance/accounting departments of our
companies. We will need to be prepared. The author goes on to say this: "The good news here, however, is that previous technology revolutions have
demonstrated that these changes also create new opportunities and entirely new
kinds of jobs. The world will need more people who are able to do jobs that A.I. cannot. To succeed, then, we need to robot-proof ourselves and our workforce."
We are lucky in the credit profession to have people watching out for the trends, changes and needs of our profession
with NACM. As part of NACM we have FCIB,
ICEL, CFDD and other groups keeping tabs on the changing world. These organizations pass on the word to us
through classes at National Credit Congress, Western Region Credit Conference
(WRCC), Business Credit magazine, National Board meetings and local education
groups like our ICEL. Staying up to date is not a luxury, it is a
necessity. I understand the work I do
today is not the same as it was 10 and 20 years ago and won't be the same even
5 years from now. The only way I can
stay vital is to be informed, educated and aware of what is coming and how it
will affect me and my employer. Constant
education is the key education even in the second 1/2 of my life. The article says this about
education: "To meet the need of these non-traditional students, it's time that
educational organizations fully embrace certifications focused around
mastery and demonstrated competency, not seat time. With this approach,
students would get credit for what they actually know, not how much time
they've spent in a classroom."
As you can see the article mentions
certifications and non-traditional students, both are topics NACM's education
programs have long ago perfected. For
those of us who have already achieved our certification and those on the path
to obtain certification we know how great the credit education we are receiving
is. In obtaining my CCE a few years ago I was not trying to forestall being
replaced by A.I specifically, but I was trying to keep my mind focused and
fresh to the changes in credit. A truly
good credit manager does more than crunch numbers and read credit reports. We
have relationships with customers that are just as valuable as the sales force. For those of you looking into a certification
or wondering what value a certification provides remember the story of the taxi
driver and the quote about certifications from the business article above. Look
into attending WRCC in Salt Lake City in October - be prepared for the
changes ahead and ready to adapt.
Change
is coming - are you ready for it?
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