The impact of AI on the finance and accounting profession and how business schools can prepare students to thrive in the AI era
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| Format: | Students’ Scientific Association paper |
| Kulcsszavak: | AI education higher education online education universities universities and colleges |
| Online Access: | http://dolgozattar.uni-bge.hu/58001 |
| Abstract: | THIAGETIA KENNETH Supervisor: Active semester 7 Dr. Andrea Vallyon International Business Economics Associate professor BGE KKK BGE KKK THE IMPACT OF AI ON THE FINANCE AND ACCOUNTING PROFESSION AND HOW BUSINESS SCHOOLS CAN PREPARE STUDENTS TO THRIVE IN THE AI ERA In the recent past, the use of AI has grown rapidly. AI has cut positions, broken the bottleneck of human efficiency, reduced standardized repetitive tasks, and created jobs. Despite all these great things, many people, especially white-collar employees are afraid that it could be only a matter of time before AI takes over their jobs. These fears have been exacerbated by the recent wave of mass layoffs in the tech industry. During the announcements of the mass layoffs, many companies cited AI. Some said that they wanted to focus their resources on AI investments, while others said that AI had changed their skills need. According to a report by Forbes, the finance and banking industry will be among the most impacted industries by AI. This is a sobering call for finance professionals to brace themselves for an AI driven workplace. This research therefore examines how AI is impacting the finance and accounting profession, whether the current finance and accounting students feel that their schools are preparing them enough to thrive in the AI era, and what business schools can do to better prepare their finance and accounting students to thrive in the air driven workplace. The research methods involved include both primary and secondary data collection. The primary data was collected via a survey that was spread to several groups of finance and accounting students from different business schools and faculties in Hungary. It also involved short interviews and questionnaires to finance professionals from some of the biggest financial services companies in Hungary. The secondary data was obtained from scholarly literature from sources like google scholar, reputable company or organizational websites. So far, the findings indicate that AI will not replace human beings anytime soon. However, many jobs will be either replaced or changed. We also found that the rise of AI gives more importance to soft skills. The research has also revealed that many students feel that their schools are not doing enough to prepare them for the ai driven workplace. However, many students are very proactive in studying about AI from other sources like Coursera. Many of the students have recommended that their schools should introduce more AI related courses. |
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