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What are opinions on if finance is worth going into or will AI take it over? This is my intended major and my family members have been scaring me into thinking that I might be making the wrong choice. #Spring25
What are opinions on if finance is worth going into or will AI take it over? This is my intended major and my family members have been scaring me into thinking that I might be making the wrong choice. #Spring25
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Wong’s Answer
Hi Parker. Many students today worry that AI might take over traditional careers, but it's important to look at the full picture. While technology is changing the finance industry, that doesn't mean finance careers will disappear. In fact, people who understand both finance and technology will likely be in even higher demand in the future.
Finance remains a strong and valuable field because money management, investing, and financial planning are essential to every business and individual. AI can automate certain tasks like data analysis, transaction processing, or detecting fraud, but it cannot replace the human judgment, communication skills, and ethical decision-making that finance professionals provide. Financial advisors, analysts, and managers often deal with complex human factors such as risk, emotion, and long-term planning, areas where people are still needed to interpret results and give advice.
Instead of seeing AI as a threat, you can view it as a tool that will make finance work more efficient. For example, AI can help you analyze large amounts of data faster, identify trends, and make better financial decisions. If you study finance while also learning about technology or data analysis, you'll make yourself more valuable in the job market. Many companies now look for people who understand both finance and how to use AI tools effectively.
Finance remains a strong and valuable field because money management, investing, and financial planning are essential to every business and individual. AI can automate certain tasks like data analysis, transaction processing, or detecting fraud, but it cannot replace the human judgment, communication skills, and ethical decision-making that finance professionals provide. Financial advisors, analysts, and managers often deal with complex human factors such as risk, emotion, and long-term planning, areas where people are still needed to interpret results and give advice.
Instead of seeing AI as a threat, you can view it as a tool that will make finance work more efficient. For example, AI can help you analyze large amounts of data faster, identify trends, and make better financial decisions. If you study finance while also learning about technology or data analysis, you'll make yourself more valuable in the job market. Many companies now look for people who understand both finance and how to use AI tools effectively.
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Kristen’s Answer
Finance jobs or accounting roles will always be needed. Actually, AI will provide much more support to someone in Finance or Accounting as it helps to recognize gaps or problems. Finance or Accounting roles are needed to ensure the data or reviews produced by AI is correct and won't impact the financial reports.
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Anita’s Answer
Hi think a field like finance would never run out of jobs. Yes AI significantly automates arithmetic and numerical tasks, which are already Fields like finance are unlikely to run out of jobs. AI greatly automates arithmetic and numerical tasks, which are already widely used. It's important for individuals to familiarise themselves with AI, as they will continue to play a vital role in the sector. Instead of fearing job loss to AI, learning to use AI tools in finance is a smarter strategy. Starting with simple applications, like AI-enhanced Excel sheets, creates a strong foundation for growth. Although AI automates many processes, human expertise remains crucial, and mastering these tools can lead to rewarding careers.
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David’s Answer
New technologies like AI often change the way jobs and industries work. Instead of avoiding these changes, it's better to embrace them and find ways to use them to your advantage. While AI might take over some tasks in Finance, there will always be roles that need people. By learning to use AI effectively and incorporating it into your work, you can build a successful career in areas like Finance.
Bruce Lane
I am a CPA and now work in Software Sales with Microsoft.
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Bruce’s Answer
Parker,
AI will impact nearly every profession. AI is yet one more tool professionals need to embrace and optimize in their related field. My initial assessment is that AI will change the way we work rather than replace individuals. Certain routine tasks once automated will eliminate some positions in a finance department. An example of that may be the matching process in accounts payable where individuals match documents which AI now is accomplishing with a very high success rate.
AI has helped me in my current position to automate tasks, prioritize follow-ups, organize my calendar, accelerate research, etc. AI has not replaced me but it may be used at some point to eliminate staff who only perform routine tasks.
AI will impact nearly every profession. AI is yet one more tool professionals need to embrace and optimize in their related field. My initial assessment is that AI will change the way we work rather than replace individuals. Certain routine tasks once automated will eliminate some positions in a finance department. An example of that may be the matching process in accounts payable where individuals match documents which AI now is accomplishing with a very high success rate.
AI has helped me in my current position to automate tasks, prioritize follow-ups, organize my calendar, accelerate research, etc. AI has not replaced me but it may be used at some point to eliminate staff who only perform routine tasks.