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AI Appreciation Day: MBA in the age of AI — How the scope of management education continues to expand
This is the age of AI and it is only a matter of time before every course feels its impact. Tell us which particular aspects do you see AI enhancing, when it comes to management education?
In the era of Artificial Intelligence, management education has taken a significant height in many aspects that are termed fruitful for the industry.
Over 40% of higher education institutions globally use AI in their programmes according to a survey by IBM Institute for Business Value. Integration of AI with management education can revolutionise data analysis and interpretation.
With modern analytics, machine learning (ML), and innovative strategy, students can gain deeper insights from vast datasets and improve strategic decision-making skills. It can help students to analyse market trends, customer behaviours, and financial data more accurately and quickly than traditional methods.
AI-driven like virtual assistants, chatbots, and collaborative platforms enhance an easy and interesting learning method for students, leading to a more streamlined educational experience.
Any AI-specific course you see coming up in the future? Do tell us why and why not.
AI-specific courses emerging in the future should be driven by industry demand, technological advancements, and societal needs.
Explainable AI (XAI) and Transparency in AI Decision-Making, AI for Enhanced Customer Relationship, Post Graduate Diploma in Management - PGDM (Insurance Business Management), PGDM (Retail Management) and Experience Management, AI for Social Impact and Ethics, Multimodal AI and Human-Computer Interaction, AI-driven Cybersecurity and Threat Intelligence, and AI for Healthcare and Biomedical Informatics are potential areas of focus.
These courses will be essential as companies use AI to inform strategic choices, maximise marketing initiatives, and guarantee ethical usage of AI.
Given AI’s expanding ability to automate and improve a wide range of business processes, future managers must have specific training in these fields.
The need for these courses is highlighted by the fact that 70% of firms are anticipated to use AI by 2025, according to a Gartner survey.
Not just education, how do you think AI will affect jobs? In the sense that there is already the fear that AI will be taking over all our jobs in the future, if not the near future. Should those who pursue their MBA be fearful of this aspect?
The adaptation of AI in businesses will depend on how much use of technology is linked to that organisation’s objectives. Hence, this will impact the employment situation accordingly.
Such fear of replacement needs to be countered by potential improvement and augmentation, along with enhanced employee experience.
The integration of AI into the workforce can enhance human capital abilities by assisting people in intensive duties and freeing up human capital for high-value, strategic, and creative jobs.
While AI will greatly influence all human work by automating administrative tasks, it will also create new career prospects. Human brains cannot be replaced by technology instead, they can be partnered with artificial intelligence to increase efficiency in the workplace.
MBA programmes are focusing on skills like critical thinking, problem-solving, creativity, adaptability and human intelligence which are always in demand to navigate industry challenges; abilities that AI cannot replace yet.
MBA graduates should develop strong foundation in business principles that complement AI including analysis, digital literacy, and adaptability, to remain relevant in the job market.
How can educators ensure that AI and management education go hand in hand?
To ensure that AI and management education work hand in hand, educators can incorporate AI-related themes into their curricula, with a focus on AI’s applications, consequences, and business ethics. They can also invite industry experts to present practical examples and case studies.
Educationists can use AI-powered tools to develop modern teaching methods including virtual reality, chatbots, gamification, learning management systems and AI-driven exams.
Furthermore, AI promotes multidisciplinary approaches that combine technology and human mechanisms to build a more comprehensive understanding of AI’s influence on management and society.
This allows educators to teach future managers to successfully use AI and make informed judgments.
