Though they get a bad rap in the workplace for work-life balance demands and salary expectations, Gen Z is growing in numbers across the labor force. As CFOs and their finance teams compete for strong young talent, how that talent is credentialed — especially as many hiring initiatives aim to expand applicant pools — may need fine-tuning due to the large-scale use of generative AI in the personal and professional lives of Gen Z.
According to new survey data from EY, young finance team members may be using generative AI extensively while facing significant knowledge gaps around its implications in cybersecurity, hallucination tendencies and the sourcing of data used to train AI models. Nearly half (47%) of the 5,000 members of Gen Z surveyed by EY said they believed AI developers need explicit permission to use a person or organization’s data to train an AI system, one of several AI-related questions largely answered incorrectly.
Gen Z’s trust and knowledge gaps
When considering their use of generative AI at work, CFOs and their fellow leaders may be surprised by Gen Z’s perception of AI use. Survey data suggests Gen Z believes teachers are more likely to discourage their use of generative AI than future workplaces (42% versus 15%).
Gen Z is also using AI for various tasks throughout their personal and professional lives. A majority (61%) identified as “varied users” of AI, with another 15% calling themselves “super users.” Less than a quarter (24%) referred to themselves as stragglers, the lowest categorization of AI use among the age group.
When asked to characterize their knowledge of AI, 70% of Gen Z respondents said they were either very knowledgeable or fairly knowledgeable about the topic. However, when surveyors tested actual AI literacy, they found literacy was mostly consistent regardless of self-assessment.
The survey data also shows the “very knowledgeable” group had just as low of an AI literacy score (62%) among those who claimed any knowledge of the technology.
There is evidence that Gen Z struggles to assess risks associated with generative AI. Only 29% of respondents correctly answered that users can bypass rules programmed into generative AI that restrict the content it can create. Additionally, and even more concerning for corporate finance teams, only 36% correctly answered that generative AI can hallucinate and produce inaccurate data.
Current and future use
While the use cases for AI tools extend into personal and professional areas, most Gen Z respondents said they use them regularly for tasks like editing written content, brainstorming, supplementing learning, self-help and more. While most believe their future employers will either encourage AI use (38%) or not care about their individual use of it (36%), its adoption is likely to increase, particularly among young finance hires who have had this technology at their disposal throughout their adult lives.
The source of their information on generative AI may further explain the inverse relationship between use and knowledge. More than half (55%) said they primarily learn about generative AI from social media. The top sources of information outside social media were traditional media (35%), AI tools (28%) and family and friends (22%). Colleagues and educators, who likely have the most resources, incentive and information to educate young people on this topic, ranked at the bottom of the list.
Despite the wide range of use and varying sources of information leading to confusion, young people remain confident in the technology. Nearly two-thirds (63%) said they believe AI as a whole will have a positive impact in the future.
How leadership can help
Although workplace AI upskilling has stalled in many organizations, respondents expressed a desire for employer-provided training on generative AI. Surveyors reported that Gen Z has been largely satisfied with current efforts, but the consensus for more training is clear. However, the preferred training methods vary.
Thirty-seven percent of Gen Z respondents said they want to learn how to use AI tools directly from providers. Slightly less (35%) said they prefer resources for self-guided learning. Coaching (29%), direct employer support (29%) and government support (21%) were also popular remedies to bridge knowledge gaps.
CFOs partnering with human resources can seize an opportunity to improve employee morale, well-being and organizational security via upskilling around AI. By investing in initiatives that teach employees about ethics and best practices around generative AI, leaders can guide staff toward safer and more effective AI use while also proactively protecting the business from any mishaps related to generative AI use.
