Artificial Intelligence in Business: A Popular Major Among North Shore Seniors

By Andrew Cohen

The purpose of Artificial Intelligence (AI) is to think… like a human. AI exemplifies abilities including: comprehending, explaining, planning and producing all at lightning speed. AI can analyze and interpret large amounts of data at a high level, and make decisions and predictions across all industries.

With such impressive human-like skills, should the world be concerned that AI will become developed enough to replace humans from their own jobs? Or has it already? Let’s take a look at how AI can impact our seniors’ field of study, as they are applying to colleges and thinking about their careers.

One of the most popular majors across the senior class is business. According to an August 2023 Forbes article by David Morel titled “The Future of Work,” one of AI’s most notable abilities is its strong business decision making skills. Tasks including analyzing market trends, interpreting financial data, and understanding investment risks would take hours or even days for financial experts to complete. On the other hand, AI can complete these business operations within a matter of seconds to minutes, undoubtedly outperforming humans in productivity and speed.

AI has the potential to replace humans from entry-level business jobs like beginner financial analysts, auditors and bookkeepers. However, despite AI’s intelligence, it cannot fully replace higher-level jobs like investment bankers, Chief Financial Officers (CFO), or human resources managers as they require communication with clients and complex decision making from the perspective of a human with emotions. While it can detect sentiments, AI cannot experience feelings like humans; AI’s comprehension is incredibly literal because it interprets the denotations of words, not the connotations. Furthermore, AI does not truly have the ability to create new ideas because all of AI’s knowledge relies on existing information.

While it is remarkably efficient and productive, AI is simply not human. AI lacks the communication, creativity, and critical thinking skills that Business jobs require, despite its vast database of knowledge.