(FEB NEWS)_Fadjar Hall, 2nd Floor FEB UNAIR – Technological developments and the importance of ethics in the world of economics and business were the main highlights of The 9th International Conference and Ph.D. Colloquium for Economics and Business (ICEB 2025) held by the Faculty of Economics and Business, Universitas Airlangga on June 3–4, 2025, at Campus B Surabaya. Carrying the theme “The Ethics–Economy Nexus: Harnessing Technology for Sustainable Social Impact”, this event successfully gathered more than 200 participants from various countries.
ICEB 2025 featured international experts from leading institutions worldwide. Among them was Professor Grantley from Curtin University, Australia, who presented on the Panel Seminar Session 2: Finance, Accounting, and Auditing Research. In the session, held on Tuesday (June 3rd), he discussed how artificial intelligence (AI) technology has and will continue to shape the new landscape in accounting, auditing, and finance.
"AI is not new; we have been discussing it since 1956. But only in the last few years have its impacts been truly felt, including in audit practices and financial decision-making," said Prof. Grantley at the Fadjar Notonegoro Hall, FEB UNAIR.
With the help of machine learning and neural networks, AI technology is now capable of detecting suspicious transactions, supporting real-time financial data analysis, and mitigating potential fraud that is difficult to detect using conventional methods. However, Prof. Grantley also emphasized that the adoption of this technology is not without challenges. According to him, the success of digital transformation depends heavily on the organization's overall readiness. Good governance, an adaptive work culture, and the integration of ethics into every operational line are key to making AI a strategic tool that is not only efficient but also responsible.
Furthermore, Prof. Grantley also revealed that the use of AI can prevent stock price crashes, a phenomenon where share prices drop drastically due to delays in management's disclosure of information. AI capable of recognizing anomalous patterns can accelerate the transparency process, thereby reducing the risk of losses in the capital markets.
Over the two days of the event, ICEB 2025 served as a global dialogue space, bringing together academics, researchers, doctoral students, and business practitioners to discuss the relationship between technology, ethics, and sustainability. The participants' enthusiasm was evident in the intense and interactive parallel sessions and panel discussions.
"AI won't replace accountants. But accountants who can leverage AI will replace those who can't," concluded Prof. Grantley, ending his session with a quote that drew applause from the audience.
Author: Yesa Alfitriana – E-Radio FEB UNAIR