On Tuesday, March 19th, I had the opportunity to attend The Importance of Big Data and Technology with PwC, hosted by Beta Alpha Psi. The speakers included Andrew Thorne (Asset Management Partner), Mai Anh Pham (Assurance Manager), Marcus Wei (Assurance Experienced Associate), and Ralitza Dountcheva (Deals Experienced Associate).
Digital is adopting technology innovation, being data-driven in every decision, designing experiences to achieve 100% adoption, and moving with startup speed and behaviors. Productivity revolution and new or accelerated growth models help drive these four digital steps. Challenges include skills (poor implementation), processes (inefficiency), integration (areas gone wrong), and technology (outdated). For 2020 outlook, the top eight technologies include augmented reality (e.g. Microsoft HoloLens), Internet of Things (IoT), drones (e.g. monitor progress for a construction project), robots (e.g. bot can mimic a user when interacting with a computer), virtual reality (e.g. educational tool for surgeons), blockchain (e.g. cryptocurrency), 3D printing (e.g. medical devices), and Artificial intelligence (AI).
PwC has two current strategies related to technology: Continuous Improvement and Your Tomorrow. For Continuous Improvement, PwC is investing in world class development for their employees. The company created a Digital Accelerator Program, “an internal program that takes groups of employees out of their day jobs and puts them through a two-year immersive training program that teaches them skills in technology such as automation, machine learning, design thinking, and digital storytelling.” In addition, PwC is digitally enabling their business and delivering an exceptional experience. A few initiatives include interactive whiteboards that allow employees from all over the world to view a process in real-time, the PwC app store, and Audit 360, a web-based platform for evaluation and testing. For Your Tomorrow, PwC is digitally upskilling their workforce and broadening employee’s horizons for complex problems. In addition, the company is standardizing across lines of service. A few initiatives include Power Up! Trivia, Learning Bursts, Tech While You Trek podcasts, and Learn by Doing. In addition, PwC awards employees with a digital badge, commonly recognized across organizations, for learning a new technological skill.
The coolest part of the presentation was when they showed a bot autonomously inputting data into a tax form. In addition, they showed a process flow for transforming data into a desired format using Alteryx Designer. Finally, they showed the many benefits of using Tableau for data visualization.
The presenters offered advice for current students. Technology is rapidly changing, so they do not advise heavily learning just one technological platform. Rather, they advise students to read and learn as much as they can about current technology prior to entering the workforce. Further, they emphasized the importance of knowing basic accounting principles and theory.
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-Tiana Maraia, MST ’19