Emerging Technologies in AIS

Question 1

What are benefits of payment processing systems?

Answer 1

• Easy to use, cheaper, seller friendly, reduced costs, increased online sales

Examples: Amazon pay, Apple Pay, Venmo.

Question 2

What are business goals of Internet of Things?

Answer 2

• Transform business processes and models
• Enable new products
• New, advanced analytics
• New insight into production

Question 3

What accounting implications of accounting implications?

Answer 3

Automated information collection and data streaming for audits and tax engagements

Real-time managerial accounting

New skill sets for CPAs

Biggest challenge: Continuous auditing and monitoring of activities

Risks: Privacy, intrusive devices. Complexities of data ownership, availability, distribution, storage. The creation and management of “big data”.

Question 4

What are automated IT security?

Answer 4

Everyone hates current user access security

• Hundred of passwords, don’t write them down

These will become obsolete- or lesser part of authentication.

This will be a multi-factor security

Identities in the future include:

• Biometric (finger prints, iris scans, body scans, facial recognition, heart rhythm)
• Objects that you carry
• Knowledge

RISKs:

• Failures and shake outs as vendors and users experiment
• 10 to 20 years, wholly biometrics

Question 5

What are head mounted displays?

Answer 5

HMDS will similarly dominate the market for immersive communication technologies

Display devices worn on head or as part of helmet

Fully or partially “immersive”
- Provide augmented partially or virtual fully reality experience that immerse the user in digitized experience

Example:
- Google glasses

RISKS:

• Digital distraction and information overload
• Wandering into restricted areas

The future:

• More convienen and accessible real-time monitoring
• Less head-down devices like smart phones

Implications:

• Ubiquitous computing
• Real-time data steaming and alerts
• Continuous auditing and monitoring of human and non-human activity

Internet of things- an important driver adoption and use

Question 6

What is gamification?

Answer 6

Apply video gaming principles, or badges and points, to engage users in learning

Making learning fun again!

Examples:

• Reward employees for engaging in health and wellness activities
• Stimulate opportunities for employee to build client relationships and build firm brand