Latest news with #Kosar
Time of India
2 days ago
- Business
- Time of India
‘People are going to walk in the door and almost instantaneously become…,' says Jenn Kosar, AI assurance leader at PwC on junior hires
Junior accountants at PwC will be performing manager-level responsibilities within three years as artificial intelligence takes over routine audit tasks, according to the firm's AI assurance leader. New hires will immediately step into supervisory roles, overseeing AI systems that handle data gathering and processing work traditionally done by entry-level employees. "Three years from now, we will feel like the first years are functioning more like fourth years," Jenn Kosar told Business Insider in a recent interview. "We will look back and say, 'Okay, these young people feel more like the managers of my day.'" Big Four firms reshape training as AI transforms accounting industry The transformation is forcing PwC, one of the "Big Four" accounting firms, to completely rethink how it trains junior employees. Rather than teaching new hires to execute basic audit tasks, the company is now focusing on "back to basics" training that emphasizes fundamental audit principles and critical thinking skills. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo Entry-level workers are receiving earlier training in professional skepticism, negotiation, and advanced analytical skills—capabilities previously reserved for later career stages. The shift reflects AI's ability to handle repetitive work while freeing human employees for higher-value activities. Technology challenges traditional consulting business models The AI revolution extends beyond junior roles, with senior positions also facing disruption. Partners and managers must adapt to client requests about fully automating certain business functions, Kosar explained in the Business Insider interview. Traditional hourly billing models are under pressure as clients question paying premium rates for work that AI can complete instantly. Former PwC UK partner Alan Paton previously noted that automation is causing clients to reconsider consultant fees when answers come "instantaneously from a tool." Despite concerns about AI replacing jobs and reducing critical thinking, Kosar believes the technology will create better-informed professionals who develop faster. PwC's "assurance for AI" product, launched in June, helps clients operate AI systems responsibly while the firm adapts its century-old practices to an automated future. How WhatsApp's New Security Features Will Protect You From Scams AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Insider
4 days ago
- Business
- Business Insider
PwC is training junior accountants to be like managers, because AI is going to be doing the entry-level work
Think you can do your boss's job? If you're a junior accountant, you might soon find out. New hires at PwC will be doing the roles that managers are doing within three years, because they will be overseeing AI performing routine, repetitive audit tasks, Jenn Kosar, AI assurance leader at PwC, told Business Insider in an interview. "People are going to walk in the door almost instantaneously becoming reviewers and supervisors," she said. PwC, one of the "Big Four" accounting and consulting firms, is deploying AI to take over tasks like data gathering and processing. This is leaving entry-level employees free to focus on "more advanced and value-added work," Kosar said. "Three years from now, we will feel like the first years are functioning more like fourth years," she said. "We will look back and say, 'Okay, these young people feel more like the managers of my day.'" AI has got PwC rethinking how it trains junior employees Kosar said the technology meant PwC was changing how it trains its junior employees, adding that entry-level workers have to know how to review and supervise the AI's work. Where the Big Four firm once focused on teaching young employees to execute audit tasks, it's now focused on more "back to basics" training and the fundamentals of what an audit should do for a client, she said. There's more time in the programming to teach junior employees deeper critical thinking, negotiation, and "professional skepticism," she said, adding they previously would have been trained in these soft skills later in their careers. 'Assurance for AI' AI is rapidly pushing the industry in new directions. Kosar was a partner in its digital assurances and transparency division before her role as AI assurance lead was created in July 2024. PwC's " assurance for AI" product, which works with clients on ensuring the AI they use is operated responsibly, has only existed since June. For all its potential, AI is challenging the Big Four's long-held business models, organizational structures, and day-to-day roles. Firms are having to consider outcomes-based pricing models based on results instead of billing clients by the hour. Alan Paton, a former partner in PwC UK's financial services division who's now CEO of a Google Cloud solutions consultancy, previously told Business Insider that automation could increasingly cause clients to question why they should pay consultants big money when they can get answers "instantaneously from a tool." While AI is already transforming more junior roles, Kosar said the technology would eventually affect senior ones. Partners and managers will have to adapt to new types of requests from clients, who are asking how AI can fully take over certain business tasks, she added. "It's a shift in how we serve clients as opposed to accelerating progression of capabilities," Kosar told BI. Kosar acknowledged there was fear AI would reduce critical thinking capabilities and replace jobs, but she said she thought AI would lead to better-informed, faster-developing professionals. "We will actually get to a better place in terms of how auditing works, how consulting works, and be able to focus on higher value insights and information," she added.
Business Insider
4 days ago
- Business
- Business Insider
PwC is training junior accounts to be like managers, because AI is going to be doing the entry-level work
Think you can do your boss's job? If you're a junior accountant, you might soon find out. New hires at PwC will be doing the roles that managers are doing within three years, because they will be overseeing AI performing routine, repetitive audit tasks, Jenn Kosar, AI assurance leader at PwC, told Business Insider in an interview. "People are going to walk in the door almost instantaneously becoming reviewers and supervisors," she said. PwC, one of the "Big Four" accounting and consulting firms, is deploying AI to take over tasks like data gathering and processing. This is leaving entry-level employees free to focus on "more advanced and value-added work," Kosar said. "Three years from now, we will feel like the first years are functioning more like fourth years," she said. "We will look back and say, 'Okay, these young people feel more like the managers of my day.'" AI has got PwC rethinking how it trains junior employees Kosar said the technology meant PwC was changing how it trains its junior employees, adding that entry-level workers have to know how to review and supervise the AI's work. Where the Big Four firm once focused on teaching young employees to execute audit tasks, it's now focused on more "back to basics" training and the fundamentals of what an audit should do for a client, she said. There's more time in the programming to teach junior employees deeper critical thinking, negotiation, and "professional skepticism," she said, adding they previously would have been trained in these soft skills later in their careers. 'Assurance for AI' AI is rapidly pushing the industry in new directions. Kosar was a partner in its digital assurances and transparency division before her role as AI assurance lead was created in July 2024. PwC's " assurance for AI" product, which works with clients on ensuring the AI they use is operated responsibly, has only existed since June. For all its potential, AI is challenging the Big Four's long-held business models, organizational structures, and day-to-day roles. Firms are having to consider outcomes-based pricing models based on results instead of billing clients by the hour. Alan Paton, a former partner in PwC UK's financial services division who's now CEO of a Google Cloud solutions consultancy, previously told Business Insider that automation could increasingly cause clients to question why they should pay consultants big money when they can get answers "instantaneously from a tool." While AI is already transforming more junior roles, Kosar said the technology would eventually affect senior ones. Partners and managers will have to adapt to new types of requests from clients, who are asking how AI can fully take over certain business tasks, she added. "It's a shift in how we serve clients as opposed to accelerating progression of capabilities," Kosar told BI. Kosar acknowledged there was fear AI would reduce critical thinking capabilities and replace jobs, but she said she thought AI would lead to better-informed, faster-developing professionals. "We will actually get to a better place in terms of how auditing works, how consulting works, and be able to focus on higher value insights and information," she added.
Yahoo
06-06-2025
- Business
- Yahoo
Amazon expands AI footprint with $10 billion data center investment
This embedded content is not available in your region. Amazon announced Wednesday a massive $10 billion investment plan to expand its data center operations in North Carolina, aiming to boost its artificial intelligence and cloud computing capabilities. The investment comes as tech companies race to build infrastructure for the growing demands of AI technology. The project will create at least 500 high-skilled jobs, including data center engineers, network specialists, and security experts, the company said. According to Dr. Tevfik Kosar, director of the Data Intensive Distributed Computing Laboratory at the University at Buffalo, this investment is crucial for Amazon's competitive edge in AI computing. "It's a very competitive race since the computational costs of state-of-the-art AI models increase at a rate of 1,000 times every three years," Dr. Kosar told ABC News. "This new deal is very important for Amazon to increase their crucial AI compute resources." North Carolina Gov. Josh Stein welcomed the announcement. MORE: US jobs at risk due to Trump's steel tariff dispute, Canadian leader says "Artificial intelligence is changing the way we work and innovate, and I am pleased that North Carolina will stay at the forefront of all that's ahead as we continue to attract top technology companies like Amazon," he said. The investment ranks among the largest in state history and is expected to bring an economic boost to Richmond County. However, experts have warned of significant environmental challenges presented by AI data centers. Kosar pointed out that data centers of this scale typically require hundreds of megawatts of power—enough to supply a mid-sized town—and millions of gallons of water daily for cooling systems. "These power and water demands can bring a significant load to North Carolina's natural resources," Kosar cautioned. "Any new investments in data centers should follow state-of-the-art sustainability practices and address the concerns of local communities." David Zapolsky, Amazon's chief global affairs and legal officer, emphasized the company's commitment to the region. "Amazon's $10 billion investment in North Carolina underscores our commitment to driving innovation and advancing the future of cloud computing and AI technologies," he said. "This investment will position North Carolina as a hub for cutting-edge technology, create hundreds of high-skilled jobs, and drive significant economic growth." Amazon says it has maintained a strong presence in North Carolina for over a decade, investing $12 billion since 2010 and contributing $13.1 billion to the state's GDP. The company currently supports 24,000 full-time and part-time jobs, along with more than 26,000 indirect jobs in the state. As part of the investment, Amazon announced several community initiatives, including support for local education through data center operations training programs and STEM education for K-12 students. The company is also launching the Richmond County Community Fund, committing $150,000 for local community projects focusing on education, sustainability, and economic development. Fengqi You, an energy engineering professor at Cornell University, sees the investment as potentially transformative for both the state and the company. "This will bring thousands of high-quality jobs during both the construction and operational phases, spur local business growth, and attract further investments in technology and energy infrastructure," You said. "The scale of this project puts North Carolina on the map as a central hub for AI innovation in the U.S." You also emphasized that the project could potentially set new environmental standards. "If Amazon prioritizes renewable energy and energy-efficient designs, it can set a new standard for sustainable data center development—helping both the company and the region progress toward their climate and sustainability commitments," You said. Sign in to access your portfolio
Yahoo
05-06-2025
- Business
- Yahoo
Amazon expands AI footprint with $10 billion data center investment
This embedded content is not available in your region. Amazon announced Wednesday a massive $10 billion investment plan to expand its data center operations in North Carolina, aiming to boost its artificial intelligence and cloud computing capabilities. The investment comes as tech companies race to build infrastructure for the growing demands of AI technology. The project will create at least 500 high-skilled jobs, including data center engineers, network specialists, and security experts, the company said. According to Dr. Tevfik Kosar, director of the Data Intensive Distributed Computing Laboratory at the University at Buffalo, this investment is crucial for Amazon's competitive edge in AI computing. "It's a very competitive race since the computational costs of state-of-the-art AI models increase at a rate of 1,000 times every three years," Dr. Kosar told ABC News. "This new deal is very important for Amazon to increase their crucial AI compute resources." North Carolina Gov. Josh Stein welcomed the announcement. MORE: US jobs at risk due to Trump's steel tariff dispute, Canadian leader says "Artificial intelligence is changing the way we work and innovate, and I am pleased that North Carolina will stay at the forefront of all that's ahead as we continue to attract top technology companies like Amazon," he said. The investment ranks among the largest in state history and is expected to bring an economic boost to Richmond County. However, experts have warned of significant environmental challenges presented by AI data centers. Kosar pointed out that data centers of this scale typically require hundreds of megawatts of power—enough to supply a mid-sized town—and millions of gallons of water daily for cooling systems. "These power and water demands can bring a significant load to North Carolina's natural resources," Kosar cautioned. "Any new investments in data centers should follow state-of-the-art sustainability practices and address the concerns of local communities." David Zapolsky, Amazon's chief global affairs and legal officer, emphasized the company's commitment to the region. "Amazon's $10 billion investment in North Carolina underscores our commitment to driving innovation and advancing the future of cloud computing and AI technologies," he said. "This investment will position North Carolina as a hub for cutting-edge technology, create hundreds of high-skilled jobs, and drive significant economic growth." Amazon says it has maintained a strong presence in North Carolina for over a decade, investing $12 billion since 2010 and contributing $13.1 billion to the state's GDP. The company currently supports 24,000 full-time and part-time jobs, along with more than 26,000 indirect jobs in the state. As part of the investment, Amazon announced several community initiatives, including support for local education through data center operations training programs and STEM education for K-12 students. The company is also launching the Richmond County Community Fund, committing $150,000 for local community projects focusing on education, sustainability, and economic development. Fengqi You, an energy engineering professor at Cornell University, sees the investment as potentially transformative for both the state and the company. "This will bring thousands of high-quality jobs during both the construction and operational phases, spur local business growth, and attract further investments in technology and energy infrastructure," You said. "The scale of this project puts North Carolina on the map as a central hub for AI innovation in the U.S." You also emphasized that the project could potentially set new environmental standards. "If Amazon prioritizes renewable energy and energy-efficient designs, it can set a new standard for sustainable data center development—helping both the company and the region progress toward their climate and sustainability commitments," You said.
