“Digital Darwinism: thriving in the face of technology change” examines the current reality of technology and society evolving faster than many organizations can adapt to the changes. Yet technological advances continue to drive economic growth. This report presents the top 10 technology trends that will have the most impact on the accountancy profession and across the globe. The authors of this report consider the possibilities created by mutually reinforcing trends, such as those in social collaboration, mobile, and cloud computing (also referred to as SoMoClo). They bring together insights from experts in these 10 areas of technology, with perspectives from experts in and around the accountancy profession.
- The world has entered what some regard as an era of "Digital Darwinism" where technology is evolving too fast for many individuals and organizations to adapt to the changes.
- Recent research among IMA and ACCA members indicates that accountants and finance professionals are well aware that radical changes will be wrought by emerging and converging digital technologies.
- Accountants must maintain awareness of a broad range of technologies and trends. Finance professionals need to consider the challenges and opportunities created by new and emerging technologies.
- Finance professionals must use their analytical and problem-solving skills to assess the potential influence of these new and emerging technologies, in order to provide the insights needed to guide and set vision and direction, as well as tactical and strategic business decisions.
- As more data is gathered, correlated, stored, and analyzed, ethical issues will also increase – for individuals, businesses, and governments. Accountants and finance professionals will need to ensure that data protection legislation is followed and that data is used ethically.