The article also predicts changes in the finance industry as AI becomes more integrated. Financial education will become more challenging and crucial, with an increased emphasis on emotional intelligence and high-quality mentoring. Software engineering, data science, and machine learning will become integral parts of financial education. Additionally, investing in human workforce development will become a significant part of the budget as the need for exceptionally skilled talent increases.
Key takeaways:
- Artificial Intelligence (AI) and human intelligence need to work together to create an optimal financial intelligence system. AI can handle repetitive tasks and data analysis, but human intelligence is needed for higher-level issues and the relational aspect of finance.
- Financial education will become more critical as AI takes over basic financial processes. Students will need to develop higher-value skills and softer skills that AI cannot emulate.
- The need for emotional intelligence in the finance industry will increase dramatically. Future finance professionals will need to pair quantitative reasoning with qualitative skills such as empathy and leadership.
- Investing in human workforce will become a significant part of the budget as the need for exceptionally skilled talent increases. This includes investing in education, retention, and performance incentives.