Description: Failing to learn to work with Artificial Inteliigence – or AI, as it is commonly called – may be a major career mistake. In an example that may surprise you, clinicians at Toronto’s St. Michael’s Hospital Toronto are already using AI to their advantage in areas like patient monitoring and staff scheduling. Statistics Canada sees AI transformation coming for up to 40 percent of people in the workforce in the next twenty years.
Date: September 27, 2023
Source: cbc.ca
Discussion points:
1) How would you explain AI to someone who asked you?
2) What do you plan on doing as a student to set yourself up for an AI future?
3) Page 4-46 of Wiley’s Financial Accounting: Tools for Business Decision-Making shows us the 9 steps of The Accounting Cycle. Which steps do you think might be most vulnerable to replacement by an algorithm?
Spencer Desveaux, Daniel Spears, Abdul Haruna, Broderick Richardson
1. AI is a computer program designed to carry out activities that require human intelligence. It is changing the shape of our work force and is increasing our efficiency as a society.
2. We believe it is important to adapt and learn as much about AI and programming as we possibly can. As in the article it is evident all industries are changing and to remain an asset for a company you have to be versatile and able to shift in any direction the company needs. One of the students in our group is doing a minor in computer science as he believes this will give him an advantage over his competitors for job opportunities.
3. We would say that Journalizing and recording transactions are the most vulnerable to replacement by AI. As it would not be difficult to program an algorithm to submit these transactions and entries. The accounting field is regarded as one of the most vulnerable sectors to AI.
Samuel Woodman, Alexander Davison, Zainatu Massaquoi, Aidan Sullivan
1. AI are computer programs that can perfom rudimentary and complex tasks without direct human supervision, like typical computer programs.
2. Every student should develop at least a basic understand of the tool in order to remain competitive. As AI becomes more advanced and recognized, it’s important for students to understand as it becomes more integrated into society. As future employees, it’s an important concept to understand to ensure job security.
3. We believe that recording and posting journal entries are at huge risk to replaced by AI. As this step lacks problem-solving skills or any type of mathematics, it could easily be replicated by AI. Entering journal entries and closing accounts are the simplest of the nine steps, so it would not be far-fetched to say they are replaceable. With that being said, accounting as a whole is slowly becoming more at risk , as AI is becoming capable of crunching numbers and leaving less room for human error.
Cecilia Anderson, Spencer Joudry, Janan Anvar, Andrew Kenneth,
1) If I had to explain AI (Artificial Intelligence) I would describe it as a big database of information that gives outputs for any given inputs. AI can generate and process this information similar to the way humans do without any human supervision.
2) As students, we should learn about and use AI to our advantage. Although not wanting to strictly rely on AI for work, it will be important to adapt it its skills accordingly and prepare to be able to use AI as a resource for many future opportunities.
3) Out of the 9 steps in the accounting cycle, I think the step that is most vulnerable to be replaced by the algorithm would be recording Journal Entries. Because of AI’s accuracy, I think this would be a very easy replacement. AI could record entries very quickly and without human error which would be an advantage to replacing it.
Cecilia Anderson, Spencer Joudry, Janan Anvar, Andrew Kenneth,
1) If I had to explain AI (Artificial Intelligence) I would describe it as a robot or machine with a big database that can generate outputs for any given inputs. AI can generate and process this information similar to the way humans do.
2) Although not wise to rely on AI, I think that as students it’s important to learn and understand as it is only going to get more advanced. AI will replace many job opportunities but also provide help to many employments, we should be prepared for this.
3) Out of the 9 steps in the accounting cycle, I think the step that is most vulnerable to be replaced by the algorithm would be recording Journal Entries. Because of AI’s accuracy, I think this would be a very easy replacement. As well as because it would provide very fast entries – this replacement would save time and accuracy which would make it a good option.
Cecilia Anderson, Spencer Joudry, Janan Anvar, Andrew Kenneth,
1) If I had to explain AI (Artificial Intelligence) I would describe it as a robot or machine with a big database that can generate outputs for any given inputs. AI can generate and process this information similar to the way humans do.
2) Although not wise to rely on AI, I think that as students it’s important to learn and understand as it is only going to get more advanced. AI will replace many job opportunities but also provide help to many employments, we should be prepared for this.
3) Out of the 9 steps in the accounting cycle, I think the step that is most vulnerable to be replaced by the algorithm would be recording Journal Entries. Because of AI’s accuracy, I think this would be a very easy replacement. As well as because it would provide very fast entries – this replacement would save time and accuracy which would make it a good option.
Haley Harrison
Haley Harrison, Gantulkhuur Lkhagvasuren, Hailey Simoneau, Jack Arsenault
1. AI or Artificial Intelligence refers to the development of computer systems and algorithms that can perform tasks typically requiring human intelligence, such as problem solving, learning, and decision-making.
2. We believe as students and future members of the workforce that is is important to learn about AI and all of its benefits as well as utilize and become aware of it in the future as it becomes more advanced. Although it is an amazing tool that will become useful for many, we face the fear of AI replacing job opportunities. Choosing a career with AI in mind may benefit us in the future.
3. Out of the 9 steps in the accounting cycle, i think the most at risk of being replaced by the algorithm is recording journal entries. Considering AI’s fast accuracy and lack of human error, recording journal entries could be easily replaced. This step is considered the least complicated to record making it the most vulnerable. Now we ask ourselves, would the clients trust AI over a real human?
Christopher-James Valenti, COlby COrmier, Mishael Mathew, Jaimie Gallant
1) Artificial intelligence is the simulation of human intelligence processes by machines, especially computer systems. It is basically programmed to answer or complete any task someone is asking it to do. Initially, it was used as a tool to compliment the human work, but the more developped it gets, the more it replaces human activities.
2) Everyone should learn how to use the tool but no one should fully rely on it. We think, like we said, that it should be use to complement the human work, but not to replace it. Humans has something the AI doesn’t have and it is emotions. That being said, the AI will never be more than a machine executing your order and it will never develop that connection with the perosn using it or an emotional understanding. Also, a machine can’t reproduce human imperfections. For all those reasons, we don’t think AI will “take over us” and we will develop as if the AI didn’t exist. We think that it is the best way to get the most out of the AI because if you use it to finalize something or as a safeguard to make sur every is as good as it can be in your work, it will be way more powerful than just using it to complete the entire task.
3) Journalizing is a pretty formal and repetitive task so we think that it is the easiest job to replace with the AI. It doesn’t require anything the AI couldn’t do and for the reasons mentioned higher, we think that programing the AI to complete this task shouldn’t be too complicated. Again, I don’t know if everyone would be comfortable to trust the AI so we think that the best way to use it in this situation would be to use it as a confirmation that there were no mistakes in the human work.