In January 2015, media reported that a plain text file containing over 1,800 Minecraft account usernames and passwords were leaked online (The Hacker News, 2015). Even though the 1,800 leaked account usernames and passwords are just a fraction of the Minecraft user database, this hacking could have huge implications. With these credentials, hackers can log in to the accounts and own it. Microsoft, who acquired Mojang, the creator of Minecraft, took appropriate steps to secure the breach.

So why is this so important? Well, we need to get a grasp of how important these online games, like Minecraft and World of Warcraft are. For example, World of Warcraft had around 5.5 million users in 2015, and just like any other massively multiplayer online game, it features a virtual in-game economy where plays can earn, pick up or purchase virtual items (Statista, n.d.; Trend Micro, 2015). If hacker find a way to enter the user database to gain the credentials of a fraction of users, they can take these items or even the entire account. The online gaming world is filled with reports of missing (stolen) in-game items, accounts, or characters that are held hostage for ransom. This may seem pitiful for non-gamers, it has serious implications for players who invested tons of in-game hours and real money to acquire these items. But it’s not all about money, accounts also contain personal information, like real names, addresses, email addresses, and even credit card accounts. In the end, this information is more valuable than in-game items.

So how can this be prevented? Since it can not be expected of companies to have a complete protection against intruders, because companies tend to not know if there is a breach only to find there is one when hackers entered the database. My best guess is to not always enter your real information, even though this is required. Make up a fake name and fake address to ensure the information that has been stolen is worthless. Also, if you are not planning to buy in-game items, why should you link your credit card to your account? I would like to hear your thoughts about this subject!

References:

Statista. (2015). Number of World of Warcraft (WoW) subscribers from 2015 to 2023 (in millions). [Online] https://www.statista.com/statistics/276601/number-of-world-of-warcraft-subscribers-by-quarter/. (Accesse

d 17th October 2018)

The Hacker News. (2015). Minecraft hacked! More than 1800 Minecraft account Credentials Leaked. [Online] Available at https://thehackernews.com/2015/01/minecraft-game-hacked.html. (Accessed 17th October 2018)

Trend Micro. (2015). Data Privacy and Online Gaming: Why Gamers Make for Ideal Targets. [Online] Available at https://www.trendmicro.com/vinfo/de/security/news/online-privacy/data-privacy-and-online-gaming-why-gamers-make-for-ideal-targets. (Accessed 17th October 2018)

In an industry that basically hasn’t changed in over 500 years, since the introduction of double-entry bookkeeping it’s time for a new technology to change the field of accounting. Accounting software vendors, like Intuit, OneUp, Sage, and Xero are starting to implement artificial intelligence and in particular machine learning in the accounting softwares (Su, 2018).

Accounting has always been interesting for new applications of IT (Omoteso, 2012). Basic accounting systems have been developed for a very long time already and every year new financial modeling packages are being developed for better analyses. New advances in computer technology have made it possible for the introduction of artificial intelligence in large accounting firms in order to make audit judgements as part of their integrated audit automation systems. If artificial intelligence systems are well integrated in the accounting software, it could possibly eliminate accounting errors that humans have much difficulty with finding those errors. This could not only reduce the liability of the accountants, but also push the accountants and auditors towards a more advisory role (Su, 2018).

However, central to accountants and auditing has always been that they provide “a independent third party expert opinion on the truth and fairness of financial information being presented by the management and the compliance of these information with applicable accounting standards and relevant legislation” (Omoteso, 2012). Maybe if artificial intelligence can take over most accounting and auditing tasks and be merely used as an aid for the auditor to help the auditor in his final determination of audit results. I think this is the foreseeable future for artificial intelligence in the accountancy industry. Therefore, I do not think that accountants will ever disappear, also mentioned during the Microsoft AI Summit on last Wednesday. Accountants and auditors are still needed for their final determination and in respect to their current tasks, they will simply get new tasks in the future.

Sources

Su, J.B. (2018) Why Artificial Intelligence Is The Future Of Accounting: Study. [Online] Available from: https://www.forbes.com/sites/jeanbaptiste/2018/01/22/why-artificial-intelligence-is-the-future-of-accounting-study/#439dfdc3337b. [Accessed on 04-10-2018].

Omoteso, K. (2012). The application of artificial intelligence in auditing: Looking back to the future. Expert Systems with Applications. [Online] 39, pp. 8490-8495 [Accessed on 05-10-2018].