How Does the Adoption of AI in the Workforce Affect the Demand for Certain Skills and Proficiencies, and How Should Organizations Strategize to Fulfill the Resulting Demands?

Presenter

Martine Clare Mungovan

Campus

UMass Amherst

Sponsor

Muzzo Uysal, Department of Hospitality and Tourism Management, UMass Amherst

Schedule

Session 2, 11:30 AM - 12:15 PM [Schedule by Time][Poster Grid for Time/Location]

Location

Poster Board A7, Campus Center Auditorium, Row 1 (A1-A20) [Poster Location Map]

Abstract

The financial services industry is experiencing a dramatic transformation due to the adoption of artificial intelligence, which is changing the industry’s demand for certain skills and proficiencies. While AI (artificial intelligence) has been around for years, it has now evolved to complete tasks much more efficiently and effectively than humans. AI is now able to provide feedback on advanced problems that could only be solved using human judgment. As these capabilities continue to advance, downstream effects will need to be addressed by organizations and prospective employees. The purpose of this study is to identify the changes in the workforce relating to the emerging demand for certain proficiencies and skills brought about by AI, as well as explore how organizations should strategize to fulfill these demands. A comprehensive literature review examines the existing body of knowledge relevant to this concern. This study employs a survey to collect data on individuals’ perceptions and attitudes toward changing demands as a result of AI adoption. Regression analysis and relationship testing are conducted on the data to conclude the relationships between artificial intelligence adoption in the workforce and relevant skills that have emerged as a result. The study concludes with recommendations for organizations and individuals for the best ways to proceed given the body of knowledge extracted from the study.

Keywords

artificial intelligence, job market, financial services industry, accounting

Research Area

Artificial Intelligence

SIMILAR ABSTRACTS (BY KEYWORD)