The accounting and finance professions have long adapted to technology — from calculators and spreadsheets to cloud computing. However, the emergence of generative artificial intelligence presents both new challenges and opportunities for students looking to get ahead in the world of finance.
Research last year by investment bank Evercore and Visionary Future, which incubates new ventures, highlights the workforce disruption being wreaked by generative AI. Analysing 160mn US jobs, the study reveals that service sectors such as legal and financial are highly susceptible to disruption by AI, although full job replacement is unlikely.
Instead, generative AI is expected to enhance productivity, the research concludes, particularly for those in high-value roles paying above $100,000 annually.