Caribbean accountants are being urged to rethink their role as artificial intelligence (AI) and other emerging technologies continue to transform the global business landscape.
Addressing the opening of the 43rd Annual Conference of the Inter-American Accounting Association (ICAC) on Friday, President Dr Irfaan Ali said the profession can no longer focus solely on producing financial statements but must become a key contributor to strategy, policy and economic development.
He said technology is changing how businesses operate, making it essential for professionals to adapt or risk becoming less relevant.
“Professions around the world are changing because of systems…we have to decide whether people drive systems or the system is driving people,” the President told delegates.
He also encouraged accountants to help craft solutions for challenges facing the Caribbean, including climate financing, biodiversity and new investment opportunities, rather than limiting discussions to technical accounting matters.
President Ali said governments and businesses are already using AI to analyse data and identify problems in a fraction of the time previously required, making critical thinking and interpretation more valuable than routine calculations.
He stressed that technology should remain a support tool, warning, “AI is a tool to help us, but if we allow AI to be the tool that directs us, then we will have challenges.”
The President further called for stronger links between education and the labour market to ensure graduates are equipped for the demands of a changing economy. He added that Guyana’s rapid economic expansion will create increasing opportunities for accountants who are prepared to adapt and offer higher-value advisory services.
