BMCC – CIMA: Future of Finance

The BMCC held a special talk & networking luncheon with CIMA, the Chartered Institute of Management Accountants to cast a prescient light on how technology will inevitable alter the financial and economic fabric as we know it today. In two exciting talks by Mr. Venkkat Ramanan (Regional Vice President, Asia Pacific, Association of International Certified Professional Accountants) and Mr. Ainol Yaacob (Head of Country and Global Tax Director, GBS Tax Operations, BP Malaysia), they illustrated how careers worldwide are heading for a seismic shift in the near future.

The Internet of Things, blockchain, cryptocurrencies, virtual & artificial intelligence, robotics and automation have already begun to impact the way we live and work. The economy will adapt, and so will its finance functions in what is considered as a dramatic move away from assigning value on the tangible towards the intangible. While this digital transformation brings significant opportunities, implementing these new technologies will also present challenges; not just for the systems, but for the people using them. A global process of re-skilling people will occur, with humans having to acquire multiple levels of competencies to work alongside machines. By the year 2020, Data Analysts are thought to be one of the most in-demand jobs.

Held at The Ritz-Carlton Hotel Kuala Lumpur, this luncheon was sponsored by CIMA, a 2018 Silver Sponsor of the BMCC. Over 50 attendees turned up, enjoying the presentations, a 4-course meal and light networking thereafter.