Artificial intelligence in the curricula of postgraduate studies in financial management: Survey results

Abstract

Objective: The aim of this article is to determine the awareness, preferences, significance, and effectiveness of application of artificial intelligence (AI) among participants of postgraduate studies in the field of financial management.

Research Design & Methods: The pilot study was conducted with the use of a survey, and the findings were analysed using the Importance-Performance Analysis (IPA) method. The survey group was composed of individuals working on final projects developed within the framework of postgraduate studies in finance management, carried out in collaboration with e.g. ACCA, CIMA, CFA.

Findings: The obtained findings have identified a demand for the incorporation of knowledge in the field of AI in the process of education in the area of finance management. The survey results will be used to modify the content of the curricula adopted for postgraduate studies in the field of finance management.

Implications & Recommendations: The only chance for experienced professionals and managers to gain knowledge about AI is to enrol in postgraduate studies. The existing postgraduate curricula are flexibly modified, which makes it possible to incorporate the knowledge about state-of-the-art IT solutions and AI on an ongoing basis. This requires, however, permanent research into the needs of the developing market.

Contribution & Value Added: The progressing digitalisation in the socio-economic sphere of our life translates into huge amounts of data being transmitted, collected, and stored, and calls for a need to implement new technologies and solutions utilising techniques and algorithms based on artificial intelligence (AI). The SARS-CoV-2 pandemic has increased the demand for modern IT solutions in the field of e.g. finance management.

Keywords

artificial intelligence (AI), education in financial management, curriculum in postgraduate education

Author Biography

Mariusz Andrzejewski

Associate Professor, Head of the Department of Financial Accounting, Institute of Finance, Cracow University of Economics (Poland). Habilitated doctor in economics (2013). PhD in economics (2001). Master of Science in informatics (1997). Master in accounting (1996). His research interests include financial audit, corporate finance, financial and managerial accounting, computer-aided techniques in accounting.

Patryk Dunal

Assistant Professor at the Department of Financial Accounting, Institute of Finance, Cracow University of Economics (Poland). PhD in economics (2018). Master in finance and accounting (2014). Bachelor in finance and accounting (2012). His research interests include corporate finance, fuel and energy market, managerial accounting, financial statements analysis, accounting of derivatives, risk management.

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