Leveraging AI tools in finance education: exploring student perceptions, emotional reactions and educator experiences
Creators: name: Córdova, Pamela
name: Grájeda, Alberto
name: Córdova, Juan Pablo
name: Vargas-Sánchez, Alejandro
name: Burgos, Johnny
name: Sanjinés, Alberto
Publisher: name: Taylor & Francis
Year: 2024
Subjects: subject: Neuroscience
subject: Sociology
subject: FOS: Sociology
subject: Science Policy
subject: Mental Health

description: This study explored the integration of Artificial Intelligence (AI) tools in finance education, focusing on student perceptions, emotional reactions, and educator experiences. Quantitative data were gathered using the Synthetic Index of Use of AI Tools (SIUAIT) instrument, administered over three semesters. The findings revealed that finance students perceived AI tools as essential for enhancing their learning experience. Notably, Financial Engineering students exhibited higher proficiency and more positive perceptions of AI tools compared to students in other disciplines, such as Engineering and Business. An observational study utilizing eye tracker technology and facial expression analysis highlighted the emotional dynamics between AI-enhanced and traditional lecture-based classes. Positive emotions, such as joy and surprise, were significantly more prevalent in AI-enhanced environments, contributing to a more engaging and emotionally positive learning experience. However, an increase in fear was also observed, which could be considered a negative activating emotion that, ultimately, still fostered learning. Semi-structured interviews with educators revealed both the opportunities and challenges of AI integration. Educators acknowledged AI’s benefits in enhancing pedagogy but expressed concerns about over-reliance and ethical implications. Thematic analysis identified key dimensions: knowledge, usage, and ethics in AI. The study concluded that AI tools could significantly transform finance education, offering enhanced learning experiences and better preparing students for future careers. However, a balanced approach, addressing ethical and psychological impacts, was essential to maximize benefits and minimize potential drawbacks. Future research should explore AI’s long-term effects and its correlation with academic performance. This study highlights how Artificial Intelligence (AI) tools are shaping finance education by examining their effects on students’ learning experiences, emotional responses, and educators’ perspectives. AI tools, such as ChatGPT and FinChat, were shown to improve students’ engagement and understanding, particularly in finance-related subjects. The study’s findings suggest that students, especially in Financial Engineering, not only gain valuable skills but also experience increased positive emotions, like joy and surprise, during AI-enhanced classes. However, an observed rise in fear also indicated the importance of addressing emotional challenges in AI-driven learning. Educators viewed AI tools as beneficial for enhancing teaching but raised concerns about ethical considerations and over-reliance. This research underscores the transformative potential of AI in finance education while advocating for a thoughtful balance between its advantages and challenges. These insights are relevant for educators, students, and policymakers as they consider the future integration of AI in academic environments.