Investing in Tomorrow: Key Takeaways from our webinar with Training The Street
Preparing business students for the ever-evolving finance sector is a challenging task many educators face — as it's a pivotal component to their student's professional career success. According to a Citibank study, 54% of the jobs in the financial sector "have a high potential for automation."
Brandon Eng, CEO of ExPrep, recently had a conversation with Scott Rostan, Global CEO of Training The Street, and Ross Riley, Director, Data Analytics & Senior Instructor at Training The Street, during our Investing in Tomorrow: Preparing Students for Their Finance Careers webinar regarding this particular topic. During the webinar, we gained industry insights related to top financial institutions such as Bank of America and Goldman Sachs and critical skills students need to learn to be competitive in the job market. As well as learning more about how Training The Street has become a premier training platform for many of these credible institutions.
Preparing for a Career in Finance
Many of us are entirely aware of how AI has impacted many job sectors in the business world, ranging from administrative tasks like sending an email to helping forecast and analyze data. When we asked Rostan and Riley if they've noticed a shift in the skill sets top institutions seek and request training material on for employees, they answered that they have received inquiries on training materials for AI tools like CoPilot and ChatGPT; many of these corporations primarily seek general knowledge on what they capabilities are for these tools and how can productivity be improved when applying the best practices.
In addition, many institutions fear their privacy and security when using these third-party platforms, so while yes they have noticed more demand for AI training material for their employees, they have also seen a large amount of uncertainty in how they can introduce AI most appropriately and safely possible, especially when dealing with financial records and accounts.
To dive deeper into AI skills in the workspace, Eng asked if students should focus on their AI skills when considering working for these leading institutions. Rostan emphasized that while we don't know what the future will be for having AI skills — referencing the popularity of coding skills ten years ago and how it didn't have a significant impact on the financial sector. He stated that familiarity with these tools is encouraged as they seem here to stay. As a finance professor at the University of North Carolina Chapel Hill (UNC Chapel Hill) and the CEO of Training The Street, Rostan advocates for honest use of AI among his students. Strengthen his student's knowledge of Artificial Intelligence in a controlled and equitable way.
As we continued our discussion with Rostan and Riley about the skills these corporate institutions seek when finding their ideal candidate, it was clear that problem-solving and collaboration were the two most imperative skills. Rostan expressed that most of the time, companies seek strong problem-solvers and communicators, as there isn't a right or wrong way to approach certain tasks and issues. Having this in mind, universities must prep the students in those skills and provide resources to build their confidence in expressing and interpreting their and others' opinions.
With experience as an investment banking professor at UNC Chapel Hill since 2002, we asked Rostan "How he prepares students for real-world scenarios they will face in their finance careers." The key takeaway was:
Introduce a method for students to foster crucial technical skills.
As a leading university in the business world, UNC Chapel Hill always seeks the best approach to prepare students with the essential technical skills they will need in entry-level roles such as Junior Banker. The best method they concluded was approaching courses like a boot camp where they use skills and platforms Junior Bankers are expected to know without the pressure of learning them in the workplace. Since implementing this method, many corporations have reported more significant numbers in retention, acceptance letters, and overall performance.
In conclusion, our webinar with Training The Street highlighted the critical elements in preparing students for successful finance careers. The discussion underscored the increasing importance of AI tools and the essential problem-solving and collaboration skills that top financial institutions like Bank of America and Goldman Sachs seek in their candidates.
Rostan's unique perspective as the CEO of Training The Street and a finance professor at UNC Chapel Hill provided valuable insights into how academic institutions can effectively equip students with the necessary technical skills through practical, boot camp-style courses. This approach prepares students for real-world scenarios and enhances their confidence and competence, making them more competitive in the job market.
To gain a deeper understanding of these topics and hear more from Rostan and Riley about the future of finance education, watch the entire webinar here.
