Dimitri Raziev is Cofounder and CEO of Kolleno—a global, B2B SaaS accounts receivable and collections management platform.
If you did not expect the AI revolution to happen so quickly, well, now you have to get ready for what’s coming. In my previous articles, I explored how drastically AI will change the landscape for financial professionals in the very near future. From automating 80% of your routine tasks to making real-time insights and analytics available at your fingertips, AI will completely change your workday.
Now, like with any revolution, it does not come without consequences and changes that each individual has to make to adapt to a new reality. Some companies will win, and some will lose, and all of it will depend on how agile they are in implementing AI and using it to its full advantage. In order to succeed in the new world and stay competitive, you will need to not only know how to use basic ChatGPT functions but absolutely master this technology to drive efficiency in everything you do.
Let’s take a look at the skills you need to succeed and prosper in this unprecedented yet exciting chapter of human history.
1. Data Literacy
Starting with the obvious number one on the list: data literacy. I mean, this skill should already be a basic necessity for any individual to have. Yet, you will be surprised by how many people struggle to interpret, manipulate, and analyze large datasets. Someone with the ability to produce compelling storytelling and communicate insights effectively is often hard to find. But in the age of AI, this will be an absolute necessity. Being able to read, analyze and interpret data should feel as natural as speaking a language. In the future, professionals will be required to go beyond basic Excel functions and PowerPoint presentations. What will be required is to be familiar with data visualization tools (e.g., Power BI, Tableau). You should know about structured and unstructured data and understand how it’s used in AI models. Knowing how to leverage data insights to inform financial strategies and decision-making is critical in an AI-driven landscape.
The future of work demands that everyone make informed, strategic choices. If you don’t know how to use data well, how else will you make important decisions in an age where AI will do the rest?
2. AI & Machine Learning Basics
While no one expects you to become a software engineer or whizz in data science, a basic understanding of how AI and machine learning technology work is an absolute must-have. Familiarize yourself with fundamental principles such as algorithms, natural language processing, neural networks and supervised vs. unsupervised learning. This knowledge will help you to understand how AI models are used in predictive analytics, fraud detection and algorithmic trading.
3. Tech-Savviness
In this age, you have to “speak” tech. The number of companies and people working there that are reluctant to change is honestly surprising. There are already so many different tools available now for almost everything, from plugins to editing your spelling and grammar as you type (e.g. Grammarly) to automatically saving passwords in one place (e.g. 1Password). Yet, how many times today have you seen a typo somewhere or a name embarrassingly misspelled? How many times has someone asked you what the password for this app is, or how many times have you had to reset your forgotten password yourself?
It is surprising but true that lots of people do not use tech to its full advantage due to either the old habit of doing something the same way or the inability to learn new tools fast. In the age of AI, if you don’t know how to adapt quickly to new technology, new software, new AI agents to improve the efficiency of your work, then you will struggle.
Tech-saviness is not just knowing how to use tech, it’s about constant and continuous learning, and staying up-to-date with all industry innovations. It is a habit of learning all the time that drives greater efficiency. To keep up, you need to start making a habit of learning something new every day.
4. Problem-solving And Decision-Making
This is probably one of the most important skills to have in the age of the AI revolution. AI tools are only as good as the problems they are designed to solve. AI can automate complex analyses, but it still needs human direction to ensure that it is asking the right questions, using the appropriate data, and aligning with strategic objectives. As AI will be completing most of the tasks for you, your responsibility will be shifting from mostly executing to managing. If we look back, only 6% of jobs in 1970 required decision-making. By 2018, this number had risen to 34%. With AI technology, in a few decades, this number will skyrocket to 80-90%.
Therefore, you must have the skills to come up with a solution for any problem, make strategic decisions, and let the AI execute your command. As long as AI knows what you need to achieve and has a clear action plan, it will be more than capable of executing it on your behalf, while your job is only to guide it in the right direction.
A few recommended books for developing problem-solving skills are The Art of Thinking Clearly by Rolf Dobelli, Problem Solving 101 by Ken Watanabe and Mastermind: How to Think Like Sherlock Holmes by Maria Konnikova.
Concluding Thoughts
There are various opinions about AI so far. Some people find it unsettling and worry about its impact on the job market, while others think this is the greatest invention in our history that will help to solve global problems. I believe that the majority of the population has not realized what’s really happening and how AI will change the world in the near future.
Nevertheless, AI is here to stay and make a significant impact. So now is the perfect time for you to get ready and equip yourself with the right skills to succeed in this new reality.
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