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Kaitlyn
Student
Commerce City, Colorado
1
Question
Asked
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Will the rapid increase of AI have more positive or negative effects in accounting and business in general? Is it possible that I may need to change my degree entirely in order to ensure my job security?
I am getting ready for my second year of college, and I have found myself becoming more concerned with how rapidly AI is advancing. My ultimate fear is that I will have a degree that has no practical use in the real world. Should I look into changing my major from accounting to something else? What other professions would be similar to accounting?
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1 answer
Wong Loke Yuen
Head of Programme cum Senior Lecturer
645
Answers
Johor Bahru, Johor, Malaysia
Updated
Wong’s Answer
Hi Kaitlyn. As a lecturer in business and accounting, I understand the concerns you're facing regarding the rapid advancement of AI and its potential impact on the accounting profession.
AI is already being used in accounting to handle repetitive tasks, such as entering data, checking numbers, and creating simple reports. These tasks are easier for machines, which can work faster and make fewer mistakes. While this may sound worrying, it also creates opportunities. With routine tasks automated, accountants can focus on more important work that AI cannot do, like analyzing financial results, giving advice to businesses, planning strategies, and solving complex problems. These skills require human judgment and critical thinking, which cannot be replaced by AI.
You asked if you should change your degree to make sure your job is safe. My advice is not to switch entirely. Accounting is still a strong and useful degree because businesses will always need people to manage money, make decisions, and provide financial guidance. Instead, you should learn new skills that go along with AI, such as using accounting software or understanding how AI tools work in business. These skills will make you more attractive to employers and help you keep up with changes in the profession.
If you still want to explore other options, careers related to accounting include finance, auditing, management consulting, and financial analysis. These jobs use many of the same skills as accounting, like understanding numbers, solving problems, and making business decisions.
AI is already being used in accounting to handle repetitive tasks, such as entering data, checking numbers, and creating simple reports. These tasks are easier for machines, which can work faster and make fewer mistakes. While this may sound worrying, it also creates opportunities. With routine tasks automated, accountants can focus on more important work that AI cannot do, like analyzing financial results, giving advice to businesses, planning strategies, and solving complex problems. These skills require human judgment and critical thinking, which cannot be replaced by AI.
You asked if you should change your degree to make sure your job is safe. My advice is not to switch entirely. Accounting is still a strong and useful degree because businesses will always need people to manage money, make decisions, and provide financial guidance. Instead, you should learn new skills that go along with AI, such as using accounting software or understanding how AI tools work in business. These skills will make you more attractive to employers and help you keep up with changes in the profession.
If you still want to explore other options, careers related to accounting include finance, auditing, management consulting, and financial analysis. These jobs use many of the same skills as accounting, like understanding numbers, solving problems, and making business decisions.