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AI and Simulation Technologies Are Redefining Finance Classrooms Worldwide

Explore how AI and simulation-based learning are transforming finance and accounting education, bridging theory with real-world practice

Dr. Babli Dhiman

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Image for representative purpose: Credit: Mikhail Nilov/Pexels

The rapid expansion of digital technologies has profoundly transformed modern society. These advances have reshaped how individuals and institutions use technology to meet diverse needs and aspirations. Among the most impactful innovations is artificial intelligence (AI), which has catalysed social and educational transformations by simplifying complex challenges, enabling predictive simulations, and enhancing problem identification through modelling and scenario planning before decisions are made.

The COVID-19 pandemic further accelerated this digital transformation, compelling educational institutions to adopt online and hybrid learning models virtually overnight. This abrupt shift underscored the importance of digital competencies in accounting education while simultaneously revealing gaps in existing curricula and pedagogical methods.

AI now plays a pivotal role in teaching and learning across disciplines. Traditional classroom lectures and textbook exercises are increasingly being supplemented—or, in some cases, replaced—by AI-driven tools and interactive simulations. Collectively, these innovations are fostering a more immersive, adaptive, and forward-looking approach to financial education. In academic settings, AI facilitates rapid access to learning materials, delivers instant feedback, and supports autonomous learning, empowering students to achieve their academic goals more efficiently.

Artificial Intelligence–Driven Customisation in Financial Education

Despite growing recognition of the need for digitalisation in accounting education, a significant gap remains between the skills developed in academia and those demanded by industry. Finance and accounting disciplines are rooted in rigorous theoretical frameworks, quantitative analysis, and strict adherence to standards such as GAAP or IFRS. While textbooks and lectures provide foundational knowledge, they rarely reflect the complex and unpredictable decision-making environments that professionals face.

Students often experience limited exposure to market volatility, regulatory changes, and real-world uncertainty. Consequently, passive learning models that focus primarily on memorisation and theoretical understanding of topics such as risk management, portfolio optimisation, and forensic accounting are becoming less effective.

AI and simulation technologies are addressing this challenge by transforming classrooms into dynamic laboratories that mirror actual market and organisational contexts. The growing importance of sustainability reporting and integrated thinking further demands a technologically literate, systems-oriented approach to accounting education. Given the rapid evolution of the profession, it has become imperative to reassess and redesign finance and accounting curricula to prepare students for a digital-first future. However, a comprehensive understanding of how digitalisation reshapes learning outcomes and curricular design remains underdeveloped.

As early as the 1960s, educator Bert Y. Kersh developed a classroom simulator using films and stills to replicate classroom decision-making for pre-service teachers

AI-driven tools—such as ChatGPT, educational chatbots, Grammarly, Google Translate, and Microsoft Word’s intelligent features—are now ubiquitous in higher education. Their use must be critically evaluated, particularly in terms of data accuracy, transparency, and ethical implications.

Simulations: Bringing Theory into Practice

Simulation-based learning (SBL) serves as a bridge between academic theory and professional practice by recreating real-world environments and decision-making scenarios. In fields such as medicine and aviation, simulations have long been used to help students practise essential skills and solve complex problems safely. As early as the 1960s, educator Bert Y. Kersh developed a classroom simulator using films and stills to replicate classroom decision-making for pre-service teachers. A subsequent randomised control trial revealed that students trained through simulation reported higher self-efficacy and demonstrated “classroom readiness” three weeks ahead of their peers.

According to a 2023 report by the World Economic Forum, artificial intelligence is increasingly integral in accounting education, enhancing adaptive learning and student engagement.

In finance and accounting, simulation-based learning allows students to engage directly with financial instruments and business challenges, improving their proficiency in trading, budgeting, auditing, and decision-making. Virtual stock market trading, for example, enables students to manage portfolios using real-time or historical market data to understand risk, diversification, and market dynamics. Similarly, forensic accounting simulators expose learners to fraud examination and auditing techniques within controlled environments.

Comprehensive business simulations integrate finance, marketing, and operations, replicating complex decision-making processes and teamwork dynamics. These immersive exercises mimic the uncertainty and pressure of real-world financial contexts, helping students balance analytical precision with professional judgement. Moreover, because mistakes in simulations carry no real-world consequences, students can learn through trial and error—an invaluable process in developing professional competence and confidence.

Universities and professional training institutions worldwide are increasingly incorporating AI and simulation technologies into their curricula. Business schools, CPA training programs, and online finance courses now feature trading labs, AI-enabled auditing case studies, and gamified simulation platforms where students earn credit by solving complex, real-world problems.

Such experiential learning models align academic theory with professional practice, ensuring that graduates enter the workforce ready to thrive in a technology-driven economy. As digital disruption continues to reshape industries, these innovations hold the potential to produce not only skilled accountants and finance professionals but also visionary leaders equipped to navigate the complexities of the 21st-century financial landscape.

EDUNEWS & VIEWS

India’s Moment: The Race to Become the World’s Next Great Study Destination

With Anglophone giants closing their doors, a recent QS report reveals how India is positioning itself as the global higher education alternative – but warns that reputation and infrastructure gaps could hold it back.

Joe Jacob

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Image: Emmanuel Offei/Unsplash

India is on the cusp of a significant shift in global higher education. According to the QS Global Student Flows: India 2026 report — now in its eighth year and drawing on data from over 70,000 students across 191 countries — inbound international student numbers are forecast to grow at approximately 8% per year from an estimated base of 58,000 in 2025, making India one of the fastest-growing study destinations in the world.

The timing is not coincidental. As the United States, Canada, Australia, and the United Kingdom tighten visa routes and raise costs, students across South Asia, Africa, and the Middle East are actively looking for alternatives. India — affordable, English-medium, and geographically proximate — is increasingly the answer.

South Asia anchors India’s international student body, accounting for nearly half of all foreign enrolments. Nepal and Bangladesh together represent over 30% of arrivals, with Nepal projected to grow at around 11% annually through 2030. African demand is rising quickly too. Zimbabwe stands out, with projected annual growth of around 11%, which would lift it from India’s seventh-largest African source country to sixth by 2030. The UAE is the leading Middle Eastern contributor, expected to account for around 5% of India’s inbound population by the decade’s end.

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Government policy is accelerating this momentum. The Study in India programme has streamlined admissions and reduced financial barriers, while the National Education Policy 2020 has enabled foreign universities to open local campuses and expanded the number of seats available to international students. India’s longer-term ambition — to host 500,000 foreign students by 2047 — signals strong political intent.

Yet the report is equally candid about what could derail this trajectory. While Indian universities have improved their employer reputation rankings significantly — rising 61 places in median rank since 2017 — academic reputation rankings have seen little progress, and this matters: over 70% of Middle Eastern students cite institutional reputation as a decisive factor. The employability gap is equally concerning; only 42.6% of Indian graduates are considered job-ready according to a 2025 Mercer-Mettl report, even as employer reputation continues to climb. Infrastructure, too, remains a pressure point — rapid expansion without commensurate investment in housing and student support risks undermining the experience India is trying to sell.

On outbound flows, India remains the world’s second-largest source of international students, with over 800,000 studying overseas. But the traditional Big Four destinations are forecast to see a small average decline of 0.5% in Indian enrolments through 2030, as Germany, France, and the UAE emerge as preferred alternatives.

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EDUNEWS & VIEWS

Vidya Vanam to Host National Conference on AI in Education

Vidya Vanam will host a national conference on AI in education in May, bringing experts and students together to discuss future learning trends.

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Vidya Vanam will host a national conference on AI in education in May, bringing experts and students together to discuss future learning trends.
Image credit:  Pavel Danilyuk/Pexels

India’s Coimbatore-based Vidya Vanam Senior Secondary School will host its Sixth National Conference on Education on May 29 and 30, focusing on the theme “AI in Education.” The two-day conference will bring together educators, policymakers, researchers, artists, and students to explore how artificial intelligence is reshaping learning, teaching, and assessment.

The conference will examine a wide range of themes, including AI and employability, the human element in learning, creativity in the age of AI, responsible use of AI, AI in research, and AI-enabled assessment systems. A dedicated student panel featuring participants from schools and colleges will offer young learners’ perspectives on the growing role of AI in education.

Jibu Elias, head of the Responsible Computing Challenge in India at the Mozilla Foundation, will deliver the keynote address. The valedictory address will be given by S. Krishnan, Secretary, Ministry of Electronics and Information Technology, Government of India.

The conference will also feature a diverse lineup of speakers, including Rishikesha Krishnan (IIM Bangalore), Sai Narayanan Sundarakrishnan (Amrita Vishwa Vidyapeetham), Nandan Sudarsanam (IIT Madras), Salil Sahadevan (UGC), Shruthi Viswanathan (NCBS Bengaluru), Pon Mythili M. (Great Lakes Institute of Management), and Sakshi Kathuria (JAGSoM). Creative voices such as theatre artist Parshathy Nath, musician Vignesh Ishwar, artist Parvathy Nayar, and author Sandhya Rao will also contribute to discussions on creativity and human expression in the age of AI.

The event will be held at the Vidya Vanam campus on Thuvaipathy Road, Anaikatti, Coimbatore, and is open to educators, students, and the public. Registration is available through the official event page or via email and phone contact provided by the organisers.

For a deeper exploration of how artificial intelligence is transforming education, read the cover story of Education Publica on AI Literacy here.

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EDUNEWS & VIEWS

India Emerging as a Global Education Hub as International Student Numbers Set to Rise Rapidly: QS Report

A QS report forecasts international student enrolments in India to grow 8% annually to 2030, positioning the country as a rising global education hub while highlighting challenges in reputation, employability, and infrastructure.

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India is poised to strengthen its position as a major global education destination, according to a new report by QS Quacquarelli Symonds
India is poised to strengthen its position as a major global education destination, according to a new report by QS Quacquarelli Symonds Image credit: Jon Austin/Pixabay

India international students are expected to grow rapidly over the next decade, with a new QS report forecasting annual growth of about 8% through 2030.

India is poised to strengthen its position as a major global education destination, with international student enrolments projected to grow steadily in the coming years, according to a new report by global higher education analytics firm QS Quacquarelli Symonds.

The report, QS Global Student Flows: India 2026, forecasts that inbound student numbers will grow by around 8% annually through 2030, starting from an estimated base of 58,000 international students in 2025.

The analysis highlights a shifting landscape in global student mobility. Tightening visa regulations and rising costs in traditional study destinations such as the United States, the United Kingdom, Canada, and Australia are encouraging many international students to consider more affordable and accessible alternatives — with India increasingly emerging as a strong contender.

Regional Demand Driving Growth

South Asia remains the largest source of international students for India. Countries such as Nepal and Bangladesh together account for more than 30% of incoming students, and Nepal’s numbers alone are projected to grow at roughly 11% annually.

Demand is also rising significantly from Africa. Student flows from Sub-Saharan Africa are expected to grow at around 6% annually, driven by expanding youth populations and limited higher education capacity in many African countries. Zimbabwe stands out as a particularly fast-growing market, with projected annual growth of around 11% in students choosing India as a study destination.

Meanwhile, the Middle East and North Africa region continues to contribute steadily to India’s inbound student population, with students from the United Arab Emirates expected to account for about 5% of India’s international student cohort by 2030.

Policy Reforms Strengthening India’s Appeal

The report attributes much of India’s growing attractiveness to policy initiatives and structural reforms in the higher education sector. Programmes such as Study in India have simplified admission processes and reduced financial barriers for international applicants.

At the same time, the National Education Policy (NEP) 2020 has introduced major changes aimed at internationalisation. These include allowing foreign universities to establish campuses in India and enabling institutions to expand seats for international students. The University Grants Commission now permits universities to reserve up to 25% additional seats for overseas applicants.

India’s long-term ambition is even more ambitious. The country aims to host 500,000 international students by 2047, signalling a strong national commitment to becoming a global education hub.

Indian Students Abroad Diversifying Destinations

Even as India attracts more international students, it continues to remain a major source of global student mobility. More than 800,000 Indian students were studying abroad in 2024, making India the world’s second-largest source of international students.

However, the report suggests that the traditional “Big Four” destinations — the US, UK, Canada, and Australia — may see a slight decline in their share of Indian students, with combined enrolments expected to fall by around 0.5% annually through 2030.

Instead, Indian students are increasingly exploring new destinations such as Germany, France, and the United Arab Emirates, attracted by lower tuition costs and accessible study pathways.

Key Challenges for Indian Universities

Despite the optimistic outlook, the report identifies several challenges that India must address to fully realise its potential as an international education hub.

One major issue is institutional reputation. While Indian universities have improved their employer reputation rankings — with the median score improving by 61 places since 2017 — academic reputation indicators have shown limited progress.

“India has long been central to global student mobility — as both a major sending market and an increasingly influential destination”

Another challenge relates to graduate employability. A Mercer-Mettl report in 2025 found that only 42.6% of Indian graduates are considered employable, highlighting the need for stronger industry connections and work-integrated learning opportunities.

Infrastructure also remains a concern. Rapid expansion of international enrolments without adequate investments in housing, campus facilities, and student support services could undermine the overall student experience.

A Strategic Moment for India

Ashwin Fernandes, Chair QS India and Vice President for Strategic and International Engagement at QS, emphasised that India now stands at a critical moment in global higher education mobility.

“India has long been central to global student mobility — as both a major sending market and an increasingly influential destination. The conditions are shifting in India’s favour, from government policy and affordability to regional demographic pressure. But sustaining this momentum will require institutions to close the gap between reputation and real-world graduate outcomes.”

Scenarios for 2030

The report outlines three possible scenarios for the future of India’s higher education landscape by 2030. These include stronger regional student flows across Asia and Africa, the rise of technology-enabled hybrid learning models, and a global competition among countries to attract international talent.

How India responds to these shifts, the report concludes, will determine whether the country can convert its growing demand advantage into lasting leadership in international education.

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