Is accounting threatened by AI?
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Anonymous
| DS is a rising sophomore at Penn State’s Smeal school of business. Is accounting a good major to go into? Or will AI takeover? What is a good business degree to get these days? |
Anonymous
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Yes, of course it is.
AI will takeover. |
Anonymous
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Every white collar job is information based
It's all in trouble |
Anonymous
We don't know yet. I'm not frightened of AI. I think it will be like the internet. I think the answer to fear about majors is to double major. I am watching an accounting master's as a practical add-on to a Public Policy BA. My kid and I decided to talk about the practical part of his education before junior year. There will still be jobs in 5 years. If there are not, the MAGAs will smash the computers. |
Anonymous
Accounting will exist and there will be people that need to know the principles, laws etc. The domain knowledge will be important. But a lot the 'tactical' stuff will be automated. Fewer accountants will be needed in a business, but this will be true of a lot of professions. The think the 'degree' such as it is may become less relevant as compared to the skills, knowledge across domains and adaptability student possesses. Learning and skill development will not stop and he may have 8+ different jobs across 3 difference professions in his career. I dont know that I would worry too much about the 'right' business degree. Who knows what the landscape will look like 3 years from now when he graduates and 5 years after that. |
Anonymous
Yes accounting is threatened by AI. Double major. |
Anonymous
What double major is safe? |
Anonymous
Some of you people have seen Terminator too many times. Or read too much science fiction. |
Anonymous
| I think the junior roles will be impacted by AI. The senior level client facing portfolio mgt roles will not. But yeah firms will be smaller in 5 years than they are now. |
Anonymous
| this. Junior roles are done. It will snowball to the point where in 15 years there wont be experienced accountants left since the young one cannot get the experience they need…. |
Anonymous
We don't need senior accountants. The deal makers mentioned above perform a social function that doesn't require accounting skill. |
Anonymous
| Our accountant’s firm used AI for data collection this year and it was positively horrid. |
Anonymous
Not at all. AI is moving forward at an unprecedented pace. https://www.newsweek.com/experts-share-gen-alpha-future-jobs-2076358 Around two in three Gen Alphas will work in jobs that do not currently exist, and the job market they are projected to enter will be unlike any the world has ever seen. |
Anonymous
Amazingly, there are still plenty of accounting internships. |
Anonymous
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So many people today work in jobs that just did not exist 20, 25 years ago. Think of all the tech roles. In the 80s into the 90s, the early tech scene wasn't cool or lucrative, it was geeky. I had a few friends whose fathers were among the early coders and they made a comfortable income but nothing like today's 250, 300k+ salaries for experienced coders.
Other kinds of jobs have nearly disappeared or halved in numbers. Entire supermarkets today are staffed by seemingly half the staff they had 20 years ago. Yet the population is much larger! I'm not afraid of AI. AI will eliminate jobs everywhere but it will also open up new opportunities. Especially in unexpected areas. The other thing about AI is that someone needs to run the programs and tell the systems what to do and reformat the output into a presentable report. |