Why Accounting Skills Matter More Than Ever in the Age of AI
HEC Paris Associate Professor Olivier Levyne explains how mastering accounts empowers future leaders to think strategically, challenge AI outputs, and make smarter business decisions.
In a world where artificial intelligence is transforming how companies operate, one skill remains foundational: the ability to understand and interpret financial information. The Accounts for Finance & Strategy Summer Program at HEC Paris equips students with exactly that expertise — blending accounting fundamentals, financial modelling, and strategic thinking into an intensive two week experience.
To explore why accounting mastery is becoming even more critical in the age of AI, we spoke with the professor leading the program.
A Conversation with Associate Professor Olivier Levyne
AI is reshaping the finance function at remarkable speed. Can you briefly outline the advantages? “AI can automate tasks that once took days; as early as January 2025, David Solomon, Chairman and CEO of Goldman Sachs, explained that 95% of the drafting of an IPO prospectus can now be completed in just a few minutes, whereas it previously required two weeks of work by a six-person team before AI,” the professor explained. “AI can detect patterns humans might miss. But if you don’t understand how accounts work, you can’t judge whether an AI generated insight is meaningful or simply wrong."
Which is why accounting fundamentals remain essential for future leaders. “Exactly. Accounting is the language of business,” he continued. “AI can translate, but it cannot interpret context. Leaders must understand the economic reality behind the numbers to avoid becoming overly dependent on automated tools. As David Solomon explains for the drafting of the IPO prospectus, the remaining 5% has now become decisive, because everything else has turned into a commodity. Bottom line, investment bankers need to focus, more than ever, on value added tasks. Such tasks require a perfect understanding of firms’ accounts.”
The program’s goal is to turn this understanding into a strategic advantage. How do you envisage that? “It’s about using accounting not just to report the past, but to shape the future,” he said. “Let us keep in mind 2 pivotal projects, announced last October, Mercury and Argentum, that aim at training AI to replace the hours of grunt work performed by juniors in investment banks and at consulting firms. When you grasp how financial information is constructed, you can anticipate how decisions will impact performance. And this is a crucial skill in consulting, private equity, or corporate strategy.”
I know that you use real world cases, including major restructuring examples like Boeing’s, to help students apply what they are learning. “Yes, cases force students to confront ambiguity. Numbers rarely tell a simple story. By working through complex situations, students learn to connect accounting data with strategic thinking. That’s something AI cannot replicate," he explained. "Let us say that my intention to turn juniors into true contributors through understanding firms’ accounts is the common thread running throughout this Summer Program.”
Looking ahead, what three competencies do you foresee as essential? “Strong financial literacy, critical thinking or scepticism, and strategic judgment,” he concluded. “AI will make information more abundant, but it can hallucinate or reinforce flawed assumptions. So, at the same time AI also makes judgment more valuable as you have to know how to validate outputs and understand the limits of the underlying data.”
Who benefits most from this program? “Students aiming for finance, consulting, entrepreneurship, or strategy roles. What sets them apart afterward is their ability to combine technical accounting knowledge with strategic insight. Many can run a model; far fewer can explain what the numbers mean for a company’s future,” he explained.
Clearly, as AI accelerates the pace of business, leaders who can interpret financial information with clarity and strategic insight will stand out. The Accounts for Finance & Strategy Summer Program at HEC Paris gives participants the tools to do exactly that - preparing them to challenge AI outputs, make smarter decisions, and create long term value.