By ILONA ANDREW
KOTA KINABALU: Accountants have a crucial role in the development of Industrial Revolution 4.0 because they analyse and make decisions and not the machines or computers.
Assistant Minister of Trade and Industry Azhar Datuk Matussin said, an accountant’s greatest responsibility is to help companies understand new value streams and new business streams from the transmission of all data.
“We need people in the accounting field to make all these analyses and decision-making because when IR 4.0 is being implemented, those ideas and strategic planning will not be done by machines or computers.
“Accountants are important especially those who deal with customers, investors, stakeholders and even board directors,” he said at the launching ceremony of a seminar in accounting at the Universiti Teknologi MARA (UiTM) here, Friday.
Azhar, stressed on the importance of IR 4.0 to the accounting world because it will result in the evolution of the “digital twin” in manufacturing, which allows new ways to optimise product design and functionality.
“Using artificial intelligence, machine learning and advanced analytics will help companies to build a product in the digital world that allows more advanced views and smarter designs than ever before.
“This also allows companies to do more rapid prototyping than with physical products and experiment with new designs at a lower cost while improving communication with the extended supply chain.