Create a 2 – 3-page infographic summarizing the effects of an emerging technology on business and accounting.
The objective of this assignment is to familiarize yourself with a variety of emerging data and technology topics and their importance to accounting. Before completing this assignment, make sure to read the documents related to ‘Data Analytics Mindset’ in the Week 5 Documents & Resources folder. An analytics mindset is the ability to:
- Ask the right questions
- Extract, transform, and load relevant data
- Apply appropriate data analytics techniques
- Interpret and share the results with stakeholders
You will learn about emerging technologies that are or becoming influential in the accounting profession. Many of these technologies may have significant implications for the future of accounting. Understanding these current and emerging technologies can influence every aspect of an analytics mindset by changing the questions you ask, altering how you work with data, requiring you to apply different or new data analytics techniques, and influencing how you share your results with stakeholders.
Select a technology (see list below). Create an infographic that includes the following: (1) a brief summary about the topic and (2) explain how the technology affects, or could affect business and accounting. (3) Briefly explain how the technology affects/may affect the analytics mindset – asking the right questions, extracting/transforming/loading relevant data, applying appropriate data analytic techniques, and interpreting and sharing the results with stakeholders.
Sample List of Technologies
- American Institute of Certified Public Accountants data standards
- Artificial intelligence (software of robots)
- Augmented reality and virtual reality
- Big data ethics (including data privacy)
- Big data storage (e.g. data lakes)
- Blockchain (internet of value) and cryptocurrencies (bitcoin)
- Cloud computing
- Cognitive computing
- Continuous auditing and monitoring
- Dark data and dark analytics
- Internet of Things (IOT), Internet of People and sensors
- Machine learning
- Natural language generation
- Neural networks, deep neural networks and deep learning
- Robotic process automation (RPA)
You can create your infographic using whichever platform you choose (just make sure that you have a way of sharing the file and/or link into the assignment drop box). Some options for creating your Infographic:
- Google Drawings: https://docs.google.com/drawings
- Piktochart: https://piktochart.com
- How to make an Infographic using Piktochart in Five Steps: https://support.piktochart.com/articles/235028348-how-can-i-make-an-infographic-in-five-steps
*Remember, infographics are a visual representation of information and data. Your infographic should help tell a story. There should be a good combination of text and graphics (e.g. images, charts, diagrams, etc.) within the infographic.