-
As AI becomes table stakes on Wall Street, business schools are racing to keep pace.
-
Elite programs nationwide are launching new courses at the nexus of AI and finance.
-
Leaders from Wharton and Goldman Sachs explain how AI is reshaping teaching and hiring.
Yesterday’s classroom threat was: Use AI and you’ll be caught.
Today’s is: Don’t use it, and you’ll be obsolete.
As artificial intelligence becomes table stakes on Wall Street, business schools are racing to overhaul their programs for finance industry hopefuls. The technology is set to automate much of the work that has defined junior bankers’ roles, including the rote tasks of building models or the endless tinkering of slide decks.
Across the country, universities are adding AI-focused courses, launching new majors, and retraining professors to prepare students for a world where algorithms handle the grunt work and humans provide the judgment.
Wharton, the famed business school at the University of Pennsylvania, is introducing a new academic track built around AI, offering students classes that fold in psychology, ethics, and governance to help them understand how humans and machines will reshape business. In Tennessee, Vanderbilt University is establishing a new College of Connected Computing to meet the moment. Nationwide, insiders say a debate is underway about how to update business-school curricula that have long centered on traditional finance fundamentals — like accounting, statistics, and financial modeling — as the advanced technology races past anyone’s ability to keep up.
The push is to better prepare the next generation of Wall Street talent, as recruiters now prize candidates who have the human insight to interpret the outputs that AI produces, question a system’s logic, and channel insights into cohesive strategies on deals.
Jacqueline Arthur, global head of human capital management at Goldman Sachs, told Business Insider that, as AI becomes more commonplace, the firm has doubled down on efforts to probe candidates’ analytical thinking. When meeting with students, the firm tries “to see how they think critically, react in the moment, and solve a problem,” she said — essentially, the attributes that would make a human more valuable than a robot.
Business Insider spoke to leaders at educational institutions as well as bank-hiring executives to determine how the AI revolution is transforming what and how students learn as they prepare to embark on Wall Street careers.
About 10 years ago, Wharton, the famed business school at the University of Pennsylvania, became one of the first business schools to formally explore the potential of artificial intelligence. It launched a research center, enhancing its academic offerings, and partnering with corporations on real-life projects for its students.
Now, the school is taking that work into the classroom, rolling out new courses and an undergraduate and MBA academic track built around AI, Eric Bradlow, Wharton’s vice dean of AI and analytics, told Business Insider.
New course offerings explore classes from interdisciplinary points of view, looking at how AI will change business and society from philosophical and psychological lenses. They include “Artificial Intelligence, Business, and Society,” “Applied Machine Learning in Business,” “Big Data, Big Responsibilities,” and “AI in Our Lives,” according to Wharton’s online course listings. Classes combine quantitative analysis and lab-based data projects with coursework on ethics, governance, and behavioral responses to AI technologies; or case studies that unpack how humans and AI will work together to reshape organizations and the labor economy.
While some classes involve coding, training of large language models, or statistics, many also tie in elements of critical analysis to teach students how to validate the output of AI systems.
Students learn to query models, review results, and determine whether the underlying assumptions withstand business scrutiny. To accelerate the shift, Bradlow said, Wharton established an AI in Education Fund that provides faculty with funding, data, and technical support to integrate AI material into existing courses.
Six months ago, a tech executive at a large private-equity firm, Bradlow, sought recommendations for hires who could sit at the intersection of business strategy and data science.
“I said, ‘We’ll send you five names,’ Bradlow told BI. “He hired every single one of them the next day.”
Across the country, other schools besides Wharton are also catching the AI wave. One is Vanderbilt University in Tennessee, which recently announced the creation of a standalone college that will be dedicated to advanced technologies in AI, computing, data science, and robotics.
Though the school hasn’t finalized its curricular programming, the College of Connected Computing is exploring where subjects overlap as part of its ongoing academic planning with Vanderbilt’s Owen Graduate School of Management, the University told Business Insider in a statement.
“Our teams are actively developing opportunities that reflect the rapidly evolving role of data, AI, and analytics in business education,” Vanderbilt added.
At the Kelley School of Business at Indiana University, Steve Sibley, a professor who oversees the investment-banking workshop — a program that’s sent students to leading banks including Goldman Sachs, Bank of America, and Moelis — said faculty were exploring how to “pivot the curriculum” in light of AI’s rise. The school is expanding the number of case-based classes it offers, he said, and exploring more coursework tied to AI and programming, such as Python for Finance and a graduate-level AI and Business class.
Training The Street, which provides technical training to banks and early-career finance professionals, has launched a series of free online resources on how to use AI and data tools in finance roles. Scott Rostan, the company’s founder and chief learning and strategy officer, told Business Insider the tutorials are open to the public, underscoring the growing demand for AI training.
Recruiters say those changes mirror what Wall Street is looking for.
“Many of the tasks junior employees would have traditionally performed will over time be automated, but that will really enable them to focus their attention on higher-value deliverables,” said Arthur, Goldman’s human global human capital management head. Training programs at Goldman incorporate AI lessons, she added, with new-hire development including hands-on experience with the firm’s internal AI tools as well as instruction on responsible use and continuous human oversight.
“Many of these quantitative analyses will be automated, but will we need our people to understand how to look at that and actually assess it and make sure that what the AI has delivered is actually right?” Arthur asked. “Absolutely.”
Read the original article on Business Insider
Leave a Comment
Your email address will not be published. Required fields are marked *