Politics · Malaysia Bureau
Accountants must develop broader skills to stay competitive amid AI disruption
Deputy Finance Minister Liew Chin Tong has called on accounting professionals to expand their expertise beyond traditional finance roles as artificial intelligence increasingly automates routine financial tasks. The push comes as the profession faces significant transformation from technological advancement.
LSN Malaysia ·
KUALA LUMPUR — Malaysia's finance sector is undergoing rapid transformation driven by artificial intelligence and digital innovation, requiring accounting professionals to adapt their skill sets to remain relevant in the workforce, according to Deputy Finance Minister Liew Chin Tong.
Liew emphasised that accountants can no longer rely solely on traditional accounting competencies to secure their career prospects. Instead, professionals in the field should pursue multidisciplinary knowledge spanning technology, data analytics, and strategic business advisory to complement their core financial expertise.
The digital shift is reshaping how financial services operate across the region, with routine accounting tasks increasingly handled by automated systems. This transition presents both challenges and opportunities for the profession, creating demand for accountants who can interpret data insights and provide strategic counsel to organisations.
Finance professionals who combine accounting qualifications with complementary skills in emerging technologies and business strategy are positioning themselves advantageously for future roles. Industry observers note that this evolution aligns with global trends, where accountants are transitioning from transaction processors to strategic business partners.
The call for upskilling underscores Malaysia's broader efforts to maintain competitiveness in finance and professional services as the region navigates technological disruption across multiple sectors.