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Introduction to artificial intelligence
Definition of artificial intelligence
Artificial intelligence (AI) is a field of science and technology that aims to create intelligent computer systems capable of learning, reasoning, and acting like human intelligence AI encompasses many different fields of research and applications, but they all work toward the common goal of creating computer systems capable of solving complex problems intelligently and efficiently [CITATION Sta20 \l 1033 ]
Narrow AI and General AI: Narrow AI are intelligent systems designed to solve specific problems in a certain field, such as identification voice, face, or autonomous driving.
General AI (General AI or AGI): The ultimate goal of AI, to create systems with general intelligence like humans, capable of learning and solving any problem in many fields different areas.
Machine Learning and Deep Learning: Machine Learning is an important branch of AI, studying how computer systems can learn and improve their capabilities based on data and experience.
Deep Learning: Is an advanced technique of Machine Learning, using artificial neural networks to simulate how the human brain works, allowing learning and processing complex data quickly effectively.
Autonomy and Reinforcement Learning in AI: Autonomous AI systems (Autonomous Systems) have the ability to plan, make decisions and take actions independently to achieve a set goal, without the need for assistance Detailed management from people.
Reinforcement Learning: Is a technique that allows AI agents to learn how to act to maximize rewards in a given environment, through testing and learning from experience
Human-Centered AI: Human-Centered AI researches and builds AI systems as effective partners and support tools for humans, such as assistant robots help, smart virtual assistant.
Ethics and Safety in AI: With the increasing influence of AI in society, ethical and safety issues in the use of AI become extremely important AI systems need to be designed and operated according to principles of ethics, transparency, fairness and safety, ensuring accountability and control over possible consequences.
Artificial intelligence is a diverse and complex field, encompassing many different areas of research and applications Understanding the basic concepts and development trends of AI will help us effectively exploit the great potential of this technology, while ensuring the safe, ethical and human use of AI be the center.
The goal of artificial intelligence
Artificial intelligence (AI) is a field of research and development aimed at creating computer systems capable of solving problems and performing complex tasks intelligently, much like intelligence of human The general goal of AI is to create systems capable of observing, learning, reasoning, making decisions and acting automatically, flexibly and effectively Here are the specific goals of AI:
Develop reasoning and problem-solving skills: AI aims to create systems capable of analyzing information, drawing logical conclusions, and providing optimal solutions to complex problems, like process human reasoning process.
Easy and Efficient Knowledge Representation: One of the important goals of AI is to develop efficient ways to represent knowledge in computer-coded form, allowing AI systems to access, Organize and use knowledge flexibly and effectively.
Copy and simulate human intelligence: AI aims to create systems capable of copying and simulating human intellectual abilities, such as learning, remembering, reasoning, and solving problems Solve problems and make decisions intelligently.
Developing self-learning systems: One of the important goals of AI is to create computer systems capable of self-learning and improving their capabilities through experience and data, without needing to be trained pre-programmed.
Connecting perception and action: AI aims to create systems capable of connecting cognitive processes (learning, reasoning) with actions (decision making, control) flexibly and effectively, like the connection between cognition and behavior in humans.
Surgical support and medical applications: AI algorithms can be used to analyze medical data, support diagnosis and treatment, as well as develop smart medical applications, such as support virtual surgery.
Creating systems with intelligent behavior: The ultimate goal of AI is to create computer systems capable of displaying intelligent behavior, learning new knowledge, and assisting humans in making decisions in an intelligent way. effective.
Natural language processing: One of the important goals of AI is to develop systems capable of reading, understanding and processing natural human language (such as text, voice) to be able to communicate communicate and interact effectively.
Enhance and optimize sensor technology: AI aims to improve and optimize various aspects of sensor technology, such as the ability to recognize, process and analyze data from sensors.
Developing smart robots: Robotics is an important field in AI, aiming to create smart robots capable of collecting information, making decisions and performing complex tasks automatically.
Predict and simulate human behavior and emotions: AI also aims to develop systems capable of identifying, interpreting and simulating human behavior, motivation and emotions, helping for e-commerce applications, customer relationship management, and decision support.
The goals of AI are many and varied, including simulating human intelligence and creating intelligent systems that exceed human capabilities in some specific fields The development of AI has been bringing important breakthroughs in many different fields, from technology, health, education to science, military and social life.[ CITATION The22 \l
The impact of artificial intelligence on current practice
In education
Artificial intelligence (AI) is having a profound impact on the field of education and has the potential to change the way we learn and teach By using this technology, we can optimize teaching and learning to achieve the United Nations Sustainable Development Goal 4 (SDG 4) One of the ways AI plays an important role is through data collection and analysis AI can provide teachers with information about student engagement, learning progress, and health This helps educators make smarter decisions about how to approach and support individuals in the classroom In addition, AI can also personalize the learning process By analyzing each student's strengths and weaknesses, AI can tailor educational content to fit each individual's specific needs This helps enhance learning efficiency and performance Virtual reality technology is also an area where AI is driving progress By creating interactive learning environments, AI allows students to experience lessons in a more vivid and engaging way This can include interacting with virtual objects or visiting historical locations through virtual reality experiences However, implementing AI technology in education also carries risks and challenges Policies that protect privacy and ensure fairness in the use of sensitive data are needed In addition, educational managers also need to consider how to use AI properly so as not to lose creativity and diversity in education.
In short, AI has great potential to improve education by optimizing the learning and teaching process However, to achieve this, attention is needed to issues related to privacy, equity and creativity in education.
AI brings many important benefits to the education system, of which the highlight is the ability to personalize the learning process Specifically, AI systems can create individual learning and assessment plans for each student based on unique learning abilities and needs This ensures that each student receives an optimized learning experience, thereby increasing engagement and learning performance
Additionally, AI provides more flexible access to learning for students with special needs Through the smart learning system, AI-powered devices can detect areas where students need additional support and provide appropriate guidance This helps students who may need extra time or support in specific subjects to keep pace with their classmates.
Another advantage of AI in education is its ability to evaluate and solve problems in real time Teachers can use this technology to monitor students' understanding of concepts by tracking individual progress throughout the learning process Through this, they can identify problems that need attention and thereby propose appropriate solutions.
Finally, immersive virtual reality (VR) experiences are also an integral part of advancement in education Advances in artificial intelligence research, especially in the field of machine vision and SLAM algorithms, have brought new opportunities for the creation of VR games and simulations For example, Pokémon Go has accelerated the development of VR Universities such as the University of Southern California have also successfully applied VR technology in training soldiers, finding that they learn faster when using virtual reality simulations rather than relying solely on books and traditional instructions system This proves that AI and VR can create effective and interactive learning experiences, helping to improve the quality of education.
Although artificial intelligence in education (AIED) offers much potential, there are some notable limitations:
The real lack of AI integration in education: Despite many research and development efforts, the integration of artificial intelligence into the education system is still not widespread Many schools still continue to use traditional teaching methods and have not really applied AI technology to the teaching process.
AI products for education are not diverse and popular: Currently, the number of AI products for education is still limited Although there are some software and teaching tools that use artificial intelligence, they have not been sufficiently researched and developed to become an indispensable part of the education system.
Lack of preparation and training for teachers: Implementing AI in education requires preparation and training for teachers Most current teachers have not been trained on how to use AI technology in the teaching process, which reduces the effectiveness of applying new technology.
Limits on personalization: Although AI has the ability to personalize the learning process, doing so is difficult due to limited data and analysis methods This can mean that learning plans and assessments do not fully reflect each student's unique needs and abilities.
Privacy and ethical challenges: The use of personal data and sensitive information in the learning process can raise many privacy and ethical issues There should be clear policies and regulations to ensure safety and protection of students' personal information.
Artificial intelligence (AI) has become an indispensable part in many different fields, from smart mobile devices, sports, construction - architecture to education In the education industry, the fusion between AI and digital learning systems has created a new concept: Smart education The digital education market, commonly known as the e- Learning market, is growing strongly thanks to the adoption of AI applications From online courses to online reference materials and virtual classrooms, artificial intelligence in education has changed the way learning compares to traditional methods The emergence of artificial intelligence in education plays a more important role than we often think More than 50% of schools and universities globally are currently using AI to support administrative management and teaching Research has also proven that applying learning methods with AI brings many significant effects This trend is driving rapid growth in the e-Learning sector by providing personalized interactive courses, high- quality online lectures, and gamified classes to enhance learning studying skill Forecasts for the global AI education market are expected to surpass 20 billion USD by 2027 This shows the attraction and development potential of AI in the field of education.[ CITATION elc23 \l 1033 ]
In finance
Artificial intelligence (AI) is playing an increasingly important role in the financial sector and is creating significant impacts Below is some analysis of the role and impact of AI in this field:
Analyze and evaluate credit risk: AI has the ability to analyze and process huge amounts of data quickly and accurately, helping financial institutions evaluate credit risk and make decisions for customers Borrow more effectively Machine learning models can analyze thousands of factors to predict customers' ability to repay debt, thereby helping to minimize bad debt risks.
Automated trading and investing: AI systems can be used to perform automated trading and investing in financial markets AI algorithms can analyze market data, identify trends and investment opportunities, and execute transactions quickly and efficiently, far beyond human capabilities.
Detect financial fraud: With the ability to analyze big data and recognize unusual patterns, AI can help detect fraudulent financial activities, such as credit card fraud, money laundering, and fraud accountant Machine learning models can be trained to identify signs of fraud and promptly alert financial institutions.
Financial consulting and wealth management: AI can be used to provide financial consulting and wealth management services to individual and institutional customers AI systems can analyze factors such as financial goals, risk appetite, and market data to make appropriate investment and asset management recommendations.
Improved customer experience: Virtual assistants and chatbots equipped with AI can provide 24/7 customer support, answering customer questions and requests quickly and effectively This helps improve customer experience and increase the operational efficiency of financial institutions.
Risk management and compliance: AI can help financial institutions manage risk and comply with regulations more effectively Machine learning models can analyze transaction data, identify unusual patterns and flag suspicious activities, helping to reduce risk and ensure regulatory compliance.
Applying artificial intelligence (AI) in the financial sector brings many advantages, but also faces some limitations Here are some points to consider:
Enhanced performance and speed: AI is capable of processing and analyzing large amounts of data in less time than humans This enhances efficiency and speed in financial decision making.
Accurate forecasting and prediction: AI models can be used to forecast financial market trends, helping investors and financial institutions make smart investment decisions.
Optimize risk management: AI can analyze data and identify potential risks in financial activities, thereby helping to optimize risk management and protect the assets of organizations position.
Increased automation: AI systems can perform repetitive tasks and automate work in the financial sector, helping to reduce errors and operational costs.
Fraud detection: AI can be used to detect fraudulent activities in finance, from fraudulent transactions to credit card fraud, helping protect consumers and organizations from financial loss
Dependence on data: To operate effectively, AI systems need to rely on accurate and sufficient data Missing or inaccurate data can lead to unreliable or misleading results.
Poor explainability: Some AI models, such as deep learning neural networks, can produce complex predictions that cannot be easily explained This makes it difficult to understand AI's decision-making process, especially in cases of error or fraud detection.
Security risks: The use of AI in the financial sector can cause data security issues, including the risk of hacker attacks or leakage of important information.
High initial investment costs: Building and deploying AI systems in the financial sector can require a large initial investment, from software development to training and system maintenance.
Risk of job loss: Automation through AI could cause job loss for some in the financial sector, especially in jobs that are repetitive and easily automated.
Artificial intelligence (AI) is changing the game in the financial services sector, delivering incredible improvements in customer experience, operational efficiency and risk management According to statistics, AI has become a force that cannot be ignored, reshaping the way customers interact and improving service quality Here are the important impacts of AI in the financial sector:[ CITATION Liv24 \l 1033 ]
37% of consumers have received financial assistance from AI chatbots, providing convenience and real-time connection.
78% of customers will continue to use the bank if provided with personalized content by AI.
Statistics show that AI can increase customer satisfaction by 20% thanks to its ability to predict and meet needs.
69% of consumers feel comfortable seeking advice from an AI virtual financial advisor.
Enhanced security and anti-fraud:
AI has resulted in a significant 60% reduction in false positives in fraud alerts.
AI's predictive capabilities help detect unusual patterns and prevent suspicious activities, strengthening financial security.
Automate processes and increase efficiency:
36% of organizations use AI for robotic process automation (RPA).
Process automation helps increase transaction speed and efficiency, from loan approval to instant money transfers.
Improve compliance and reduce costs:
AI helps some executives reduce compliance-related costs by 10% or more.
Automate tasks like monitoring transactions and flagging anomalies, ensuring customer interactions stay within legal boundaries.
Support employees and increase productivity:
70% of employees believe AI enhances job satisfaction by eliminating repetitive tasks.
Collaboration between humans and AI enables employees to focus on value-added activities, driving innovation and meaningful interactions.
Statistics predict that 95% of customer interactions will be driven by AI by 2025.
This is a future filled with endless possibilities, where innovation blends perfectly with customer centricity.
AI is becoming an unmissable force in the financial services sector, delivering incredible improvements in customer experience, operational efficiency, risk management and compliance As AI continues to advance, it will reshape the way financial services are delivered, introducing new standards of customer satisfaction and providing a competitive advantage to financial institutions that embrace innovation this innovation.
In automation and the job market
Artificial intelligence (AI) is bringing about profound changes in the way work is automated and the structure of the labor market While AI opens up many new opportunities and potential, it also poses significant challenges and risks in terms of its impact on jobs and the global workforce.
Impact of AI on automation:
Increase productivity and production efficiency: AI has the ability to automate many production steps and processes, reduce dependence on direct labor and improve operational efficiency This helps optimize resources, reduce costs and increase profits for businesses.
Detect and prevent risks: Thanks to the ability to analyze big data and recognize patterns, AI can predict and warn of potential risks in production, operations or transaction processes This helps people make accurate and timely decisions to prevent risks from occurring.
Replace job roles: AI is gradually replacing job roles that involve tasks that are repetitive, routine, or do not require too much complex thinking Machine operations, simple data processing, and many administrative tasks are likely to be automated by AI.
Creates new jobs: Besides replacing some existing jobs, AI also opens up new job opportunities in the design, development, deployment and maintenance of AI systems, as well as work related to data analysis and management of these systems.
Automate repetitive work: AI helps free up human time and resources by automating tasks that are repetitive, routine, and do not require too much complex thinking This allows employees to focus on more strategic, creative and value- added activities.
Impact of AI on the job market:
Changing the structure of the job market: AI is creating profound changes in the structure and human resource needs of many different occupations Traditional jobs may be replaced, while new jobs related to AI and technology will become more and more important.
Creates new jobs: While AI may eliminate some existing jobs, it also opens up many new job opportunities in fields related to the development, deployment and operation of AI systems , as well as jobs related to data analysis and AI management.
Changing existing job roles: AI will change existing job roles, automating many repetitive and uncomplicated tasks, thereby freeing up time for employees to engage in more mundane activities strategic, creative and higher value-added activities.
Impact on the workforce: According to estimates by the International Labor Organization (ILO), about 7% of the total global workforce is at risk of losing jobs due to automation and AI by 2030 Although However, this figure is likely to be higher in developed economies and some emerging markets, with around 60% of jobs affected.
To respond to the changes brought about by AI, countries and businesses need a strategy to train and retrain the workforce, focusing on developing new skills suitable for the AI era At the same time, there needs to be appropriate policies and regulations to protect labor rights and ensure fairness and inclusion during the transition process.
Applying Artificial Intelligence (AI) to automation and the job market brings both distinct advantages and disadvantages, as follows:
Enhance efficiency and productivity: AI can automate many repetitive and time- consuming tasks, helping to increase productivity and reduce working time.
Reduce costs: Automating workflows can reduce costs by requiring less human resources and fewer errors, while increasing operational efficiency.
Free employees from monotonous tasks: Employees can shift their focus to more complex and higher-value tasks, helping to create a diverse and creative work environment.
Increase prediction and risk management: AI can analyze big data and predict trends or risks in the market, helping businesses and organizations have smarter strategies and decisions.
Creation of new jobs: While it may reduce some traditional jobs, the adoption of
AI also opens up opportunities for the growth of new jobs in areas such as technology development and management WHO.
Job loss for non-skilled workers: Automation can lead to job loss for people doing simple and repetitive tasks without special skills.
Privacy and information security risks: Automation can create risks related to the disclosure of personal information or sensitive data if not carefully managed and protected.
Dependence on technology and techniques: If AI systems have problems or are not updated regularly, it can pose risks to business operations and the labor market.
Social impact and ethical issues: Automation could widen the gap between rich and poor and raise concerns about fairness and ethics in the labor market.
Ability to change labor market structure: AI can create major fluctuations in the structure and distribution of labor, causing new challenges for individuals and businesses.
Accounting
Manual, repetitive work: AI can automate many manual accounting tasks such as recording, reconciling, preparing financial reports, helping to save time and improve efficiency fruit.
Analysis and control: With the ability to process big data, AI can quickly analyze financial data, identify unusual patterns and signs to accurately warn of risks and fraud more fleshly than humans.
Consulting and decision making: AI can advise and make suggestions on financial decisions based on data analysis and machine learning models, helping accountants make more informed decisions.
Accounting standards and compliance: AI can easily update and apply new accounting standards and regulations, ensuring higher compliance.
Language
Translation: AI systems have very good natural language translation capabilities, helping people communicate, work and access information around the world more easily.
Natural Language Processing (NLP): AI-based NLP applications can understand, analyze and synthesize natural language (text, voice) helping to automate many tasks such as summarizing text text, answer questions, recognize emotions,
Writing support: AI can assist humans in drafting, editing and creating text content more quickly and effectively.
Language learning: AI applications in language teaching and learning such as analyzing pronunciation errors, providing personalized feedback, and virtual reality learning environments have helped significantly improve language learning abilities
Current status of the impact of artificial intelligence on job opportunities and job
AI and job automation
2.1.1 Examples of industries and tasks affected by job automation
Work automation is already impacting many specific occupations and tasks in a profound way Here are some examples that illustrate this trend:[ CITATION Ngu214 \l 1033 ]
Industry: Industrial robots are being widely used to automate intensive manufacturing tasks These large, heavy robots are placed in fixed positions in industrial plants, and all other workers' tasks and processes revolve around them The use of robots helps increase productivity, while minimizing labor safety risks for humans However, this also means that some traditional jobs will be replaced by automation Factories need to balance economic efficiency and job security for workers.
Automobile industry: This industry has been hit hard by supply chain disruptions during the COVID-19 pandemic However, before that, automation had a significant impact on the car manufacturing process Robots and automated machinery have replaced many assembly steps previously performed by workers This increases productivity, while ensuring greater quality and accuracy However, direct labor demand in automobile production also decreased significantly.
Footwear and apparel industry: 43.3% of respondents reported "very significant" disruption due to the impact of COVID-19 However, even before the pandemic, automation was significantly affecting the industry Many sewing, cutting and machining steps have been performed by modern machines, replacing traditional manual labor This helps increase productivity and production efficiency, but also means that some traditional jobs are lost.
Factory workers: According to the International Labor Organization (ILO), 44% of factory workers are at risk of being replaced by robots With the rise of industrial robotics, artificial intelligence and automation, many repetitive tasks previously performed by human workers can now be delegated to automated systems This helps increase productivity and production efficiency, but also poses challenges in terms of employment and retraining of workers.
Cashiers: 40% of cashiers are at risk of being replaced by robots With the development of automatic payment technology, barcode scanners and smart payment systems, the role of traditional cashiers is gradually shrinking However, communication and customer support roles are still essential.
Taxi drivers: 20% of taxi drivers are at risk of being replaced by robots With the development of self-driving car technology, many taxi companies have begun testing and deploying self-driving car services This will completely change the traditional business model of the transportation industry.
Customer service staff: 18% of customer service staff are at risk of being replaced by robots With the development of artificial intelligence, chatbots and automation systems, many basic customer support tasks can be performed by machines However, for complex cases, the role of customer service staff is still very important.
Pilots: 16% of pilots are at risk of being replaced by robots Although automatic control technology and automation systems have developed strongly in the aviation industry, the pilot's role is still very important in ensuring flight safety and handling emergency situations However, in the future, self-driving aircraft technology may completely change the traditional operating model.
In short, automation is having a profound impact on many different industries and tasks Although it brings many benefits in terms of productivity and efficiency, it also poses major challenges in terms of employment and retraining of workers Businesses and governments need appropriate strategies and policies to deal with these changes effectively However, it is also important to note that automation also creates many new opportunities For example, in the IT, technology and electronics industry, only 6.7% of people reported disruption due to automation This shows that there are many opportunities to upskill and retrain workers to adapt to changes.[ CITATION CNB21 \l 1033 ]
2.1.2 Benefits and challenges of AI-driven job automation
Benefits of AI-driven work automation:
Increase production productivity: Machines and robots controlled by AI are capable of performing repetitive tasks quickly, accurately, and tirelessly They can operate continuously 24/7 without needing to rest, something humans cannot do AI systems monitor the number of resources used, production cycle times, environmental temperatures, waiting times, errors and downtime to optimize production operations, minimizing waste and increase operating efficiency This helps businesses increase production productivity significantly According to Capgemini research, manufacturing automation can increase productivity by 20% and reduce production costs by 3.9% A report by the International Labor Organization (ILO) shows that industrial robots helped increase global labor productivity by 0.36% per year between 2005 and 2014.[ CITATION Phú23 \l 1033 ]
Improve product quality: AI has the ability to analyze and process a huge amount of data, helping to optimize production and operating processes to achieve high quality products AI systems use the final decisions of the operator to learn how the human mind works, thereby adjusting the production process to achieve a product that meets the desired quality standards In addition, AI can also detect and eliminate defective products accurately and promptly, ensuring consistent quality for all products McKinsey research estimates that AI can reduce product defect rates by 20% from current levels According to Tom Siebel, CEO of C3.ai, AI technology can reduce scrap rates in production by up to 50%.[ CITATION Sch23 \l 1033 ]
Save labor costs: Automation with AI support helps reduce the need for direct labor in the production process This significantly reduces the cost of salaries, insurance and other benefits for businesses Besides, automation also helps save effort, time and costs related to training new personnel, thereby increasing economic efficiency for businesses.
Accenture's report predicts that automation and AI can save up to 40% of labor costs in the manufacturing industry According to Deloitte, automating business processes can save 16% of operating costs for businesses.[ CITATION Lại21 \l 1033 ]
Optimize the product quality inspection process: AI can be applied on product scanner cameras to find defective products, foreign objects or incorrect specifications quickly and accurately AI systems are trained to identify defects, scratches, shape errors or technical errors on products, thereby making decisions to eliminate or keep them This helps increase the speed and efficiency of the quality inspection process, while minimizing errors due to human factors IBM research shows that applying AI in quality testing can reduce error rates to 7% compared to 20% of traditional methods According to Mr Sanjeev Sharma, Chief Technology Officer of IBM, AI can detect 90% of errors on the production line.[ CITATION Sch23 \l 1033 ]
Challenges of AI-driven job automation:
Impact on employment: The development of artificial intelligence and automation could change many traditional jobs, especially jobs that are repetitive and do not require high skills This could lead to job losses for some occupations, causing significant economic and social consequences Governments and businesses need to have appropriate policies to support workers in changing careers or reskilling to suit new market needs According to a report by the Organization for Economic Cooperation and Development (OECD), about 14% of jobs in member countries are at high risk of being fully automated Research by the Institute for Economic and Social Research (IRIS) predicts that 20% of jobs in France are at risk of being replaced by machines within the next 20 years.[ CITATION Ban23 \l 1033 ]
Impact on the career prospects of AOF students
2.2.1 The evolution of job roles and skill requirements in the AI era
In the age of AI, we are witnessing a dramatic shift in job roles and new skill requirements Here are more detailed analyzes of the mentioned highlights:
Machine learning engineer: This is one of the hottest jobs in the AI field Machine learning engineers design, build, and deploy machine learning models to solve complex problems They need to have strong software skills, the ability to apply predictive models such as regression, classification and clustering, and use natural language processing when working with large data sets The average salary for a machine learning engineer is
$121,106 according to 2022 data, reflecting the competitiveness and high demand for this position.
Robotics Scientist: This role focuses on designing, building, and programming robots or mechanical devices that can perform tasks according to human commands. Robotics scientists combine knowledge in fields such as mechanics, electronics, software and artificial intelligence to create intelligent, flexible and safe robotic systems for applications in manufacturing, medical, military or space exploration.
AI Engineers: These are experts with extensive knowledge in AI-related fields such as machine learning, computer vision, natural language processing, game theory, and expert systems AI engineers not only need high technical expertise, but also must have practical experience through projects and applications, the ability to constantly update with the latest advances in the industry, teamwork and communication skills Efficiency, analytical skills and complex problem solving In addition, they must also be aware of ethical issues and biases in the design and use of AI.
Rising demand for AI skills: According to Stanford University's Artificial Intelligence Index Report 2023, demand for AI-related skills has skyrocketed over the past decade This includes skills in programming such as Python, SQL, computer science, data analysis and machine learning This increase reflects the trend of AI application in many different fields such as healthcare, finance, manufacturing and e-commerce. Businesses need human resources with AI skills to develop and deploy new technology solutions.
Challenges and negative impacts of AI on jobs: Satya Nadella, CEO of Microsoft, has warned that AI opens up an era where anyone can become an expert in any field with an assistant AI support This means that office workers, including positions such as secretaries, administrative and customer support staff, are at high risk of being replaced by AI Without appropriate solutions and policies, this can lead to serious labor
Solutions to reduce labor inequality and leverage the benefits of AI: To address these challenges, the International Monetary Fund (IMF) has called on governments to establish social safety nets and introduce retraining and new skills training programs to help workers transition to jobs more suitable for the AI era At the same time, effectively grasping and applying AI technology will also help workers, especially the younger generation, increase productivity and create a competitive advantage in the job market It is important to have close coordination between government, businesses and training institutions to meet human resource needs in the AI era
In short, AI is drastically changing the landscape of job roles and required skills. While some traditional jobs are at risk of being replaced, many new positions in the AI field such as machine learning engineers, robotics scientists, and AI engineers are becoming essential Demand for skills in programming, data analysis and machine learning is also increasing However, we also face the challenge of labor division and inequality due to the impact of AI To effectively leverage the benefits of AI while minimizing negative impacts, close coordination between stakeholders is needed to develop appropriate policies and training programs.
2.2.2 Opportunities created by AI in many different industries
Artificial intelligence (AI) has been opening up many new opportunities in various industries and business sectors Below is a more detailed analysis of the examples given:
Cybersecurity/Fraud Management: AI plays an important role in enhancing cybersecurity and fraud management AI systems are capable of analyzing traffic data, system logs, and user behavior to detect unusual patterns, warn early about threats, and prevent cyber attacks In addition, AI also helps reduce fraud risks by identifying suspicious transactions, classifying fraudulent behavior and automatically applying defensive measures.
Personal digital assistant: Virtual assistants such as Siri, Alexa, Google Assistant have become popular thanks to the application of AI Voice recognition, natural language processing and machine learning help these assistants understand and respond to user requests, from making appointments, finding information to controlling smart devices in the home home They help users perform daily tasks quickly and conveniently.
Customer relationship management: AI is changing the way businesses manage customer relationships (CRM) Through analyzing data about customer behavior, preferences and transaction history, AI helps businesses classify and group customers more effectively In addition, AI also helps predict customer purchasing behavior, thereby helping businesses come up with appropriate marketing strategies and customer care services.
Resource management: AI plays an important role in optimizing resource use, helping to save costs and protect the environment At the enterprise level, AI helps effectively manage resources such as human resources, finance and supplies At the societal level, AI supports the sustainable management of energy, water and natural resources.
Content production: With the ability to process natural language and create content,
AI has become an effective support tool for content creators AI can write articles, scripts, poetry, as well as create videos, music and images Although there are still some creative and aesthetic limitations, AI has significantly contributed to the efficient and fast content production process.
Product suggestion: AI systems play an important role in suggesting products to customers based on their preferences and shopping behavior Through analyzing big data about transactions, product reviews and search history, AI can provide personalized product suggestions, suitable for each specific customer In addition, AI also helps predict shopping trends and market demand, supporting businesses in planning production and marketing.
Accounting: AI is changing the way accounting works AI systems can automate many accounting tasks such as invoice management, ledger entries, bank reconciliations, and bookkeeping In addition, AI also supports cash flow forecasting, budget analysis and provides early warnings about financial risks, helping businesses make more accurate and timely decisions.
Supply chain operations: AI helps optimize supply chain management by analyzing data on market demand, inventory, transportation and logistics AI models help predict product demand, plan production, and manage warehouses and transportation routes, thereby reducing costs and improving supply chain efficiency.
Feasible and practical solutions to improve the position of Academy of Finance students
Develop technical skills in AI and related industries
For finance students interested in developing skills in artificial intelligence (AI) and related industries, here are some analytical ways they can develop this skill:
Learn online courses and specialized materials: There are many online education platforms that offer courses in artificial intelligence and related fields such as data science, machine learning, and data analytics Participating in these courses helps students gain basic and advanced knowledge about AI.
Participate in AI-related projects and competitions: Competitions and projects are good opportunities to apply knowledge and practical skills Students can participate in competitions such as data classification projects, financial market predictions using AI, or even robo-advisor competitions.
Internships and practical work: Look for internship or work opportunities at companies or organizations related to finance and technology This helps students apply their knowledge in real-life settings and they can learn from industry experts.
Build personal projects: Students can build their own personal projects related to
AI and finance This not only helps them practice their technical skills but also helps them build a portfolio and demonstrate their abilities when looking for a job later.
Join communities and networks: Join online or offline communities about AI and finance, participate in forums, events, and seminars to connect and learn from experienced people in the industry.
Improve programming skills: For AI, programming skills are extremely important. Students can focus on learning popular programming languages like Python and R, along with popular libraries and frameworks like TensorFlow and PyTorch.
Learn and apply data knowledge: AI and finance both rely heavily on data.Students need to master knowledge of data processing, data analysis and data visualization to be able to apply AI in the financial sector.
Develop soft skills and adaptability
In addition to developing technical skills in artificial intelligence (AI) and related industries, finance students also need to develop soft skills and adaptability These skills will help them become well-rounded professionals and more successful in their careers.
Communication skills: According to a study by Harvard University, nearly 85% of career success is related to effective communication skills In the field of finance, this skill helps students present ideas, convince customers and build good relationships with colleagues They can practice this skill through presentations, discussions, writing reports and participating in training courses on communication skills.
Teamwork skills: In the modern working environment, the ability to work in groups is an important factor According to a Stanford University study, diverse and productive teams are 35% more likely to achieve higher results than non-diverse and unproductive teams Students can participate in group projects in school or in extracurricular activities to practice this skill.
Creative and problem-solving spirit: Finance is a field that requires creativity in solving complex problems According to a study by the Center for Economics and Business Research, companies with cultures that encourage creativity and problem solving have 59% higher profit growth than companies without such cultures So. Students can participate in creative activities such as designing new financial solutions, or participating in startup competitions.
Time management ability: To be able to balance study, work and personal activities, students need to have good time management ability According to research by the Massachusetts Institute of Technology (MIT), people who manage their time well are 25% more productive than those who do not manage their time effectively They can use time management tools such as daily and weekly planning or use applications that support time management.
Flexibility and adaptability: In innovative and uncertain work environments, adaptability and flexibility are critical According to research by Harvard University, people with high adaptability have 24% higher income than people with low adaptability. Students can practice this ability by participating in diverse activities, facing difficult situations and finding ways to solve them.
Confidence and ability to manage stress: In a stressful work environment such as finance, confidence and the ability to manage stress are very important According to research by the National Mental Health Association (NAMI), high stress can lead to decreased work productivity, cause health problems and negatively affect relationships.Students can practice this ability by participating in physical activities, meditation, yoga
Developing soft skills and adaptability will help finance students become well- rounded professionals, capable of solving problems effectively and succeeding in their careers Studies have shown that people with good soft skills often have higher incomes,better promotion opportunities and higher job satisfaction.
Take advantage of internships, projects, and networking opportunities
To make the most of internships, projects, and networking opportunities, finance students can pursue the following strategies:
Internships are a golden opportunity for students to experience a real working environment, apply learned knowledge and develop new skills According to research by the National Union of Undergraduates, 63% of students with internship experience receive at least one full-time job offer after graduation.
Students should actively search and apply for internship programs at banks, investment companies, investment funds and other financial institutions This helps them build project portfolios, practical skills, and industry connections. Project:
Participating in real-life projects is a great way for students to develop skills and knowledge related to their major According to research from Stanford University, students who participate in real-life projects are 28% better at problem solving and decision making than students without project experience.
Students can participate in startup competitions, analyze competition, or design financial models for startups They can also initiate their own projects, such as developing a financial application or building an investment analysis model.
Building a network of contacts is very important in finding job opportunities and developing your career According to a LinkedIn study, 85% of all jobs are found through networking.
Students should participate in industry events, seminars and conferences to meet and network with professionals in the financial sector They can also join student groups, clubs and related organizations to expand their network.
Additionally, students should use professional social networking platforms such as LinkedIn to connect with professionals and companies in the financial industry This gives them easy access to information about jobs and career opportunities By taking advantage of internships, projects and networking opportunities, finance students can develop real-world skills practice, build an impressive portfolio and expand your network of contacts This will help them better prepare for the labor market and increase their chances of success in their future careers.
Learn for life and stay updated in the rapidly growing AI field
For lifelong learning and staying up to date in the rapidly growing field of AI, finance students can apply the following strategies:
Setting specific and measurable learning goals will help students focus on essential skills and knowledge For example, they might aim to learn about AI-based financial modeling, big data processing techniques, or ethics and accountability in AI.
According to research from Harvard University, people who set clear goals are 33% more likely to achieve success than those who do not have specific goals. Create a flexible study plan:
The field of AI is developing rapidly, so students need flexible study plans to easily adjust to new trends and technologies.
They can combine online courses, attend seminars, read the latest literature, and participate in real-life projects to update their knowledge.
A Stanford University study found that people with flexible learning plans were42% more adaptable to change than those without flexible plans.
Participating in AI learning communities will help students connect with experts, share knowledge, and stay up to date with the latest trends.
They can participate in forums, online groups, events or organizations related to
According to research from the University of Cambridge, people who participate in learning communities are 27% better able to absorb and apply new knowledge than those who study alone.
Apply learning through real projects:
Participating in real-life projects related to AI in finance will help students apply and improve their knowledge.
They can participate in research projects, develop AI-based financial applications, or participate in competitions about AI in finance.
Oxford University research shows that learning through practical projects helps students remember and apply knowledge 83% better than theoretical learning. Follow reliable news sources:
To update knowledge about AI in finance, students need to follow reliable news sources such as specialized magazines, blogs of experts, and reputable research organizations.
They can also sign up to receive newsletters or updates from leading organizations and companies in the field.
According to research by MIT University, people who follow trustworthy news sources are 51% better able to recognize and apply new trends than those who do not.
By applying these strategies, finance students can sustain lifelong learning and stay current in the rapidly growing field of AI This will help them improve their competitiveness, stay ahead of new trends and be more successful in their future careers.
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