The impact of artificial intelligence (AI) is becoming increasingly evident in various industries, from customer service to stadium security and fast-food ordering systems. In response to this growing trend, business schools are adapting their curricula to include AI education, recognizing the importance of equipping future leaders with AI-related skills and knowledge. A recent survey revealed that 74% of business schools worldwide are already incorporating AI subject matter into their programs.
AI in the Business School Curriculum
Business schools across the United States and beyond are acknowledging the significance of AI and offering courses and programs designed to educate students on its applications and implications. For example, the University of Pennsylvania’s Wharton School of Business offers AI-related coursework through its “AI & Analytics for Business” program. This program focuses on AI entrepreneurship, its practical application in business, and the management of AI technologies.
Northwestern University’s Kellogg School of Management goes a step further by providing a specialized MBA program known as MBAi, which centers on AI-related subjects.
Teaching AI: A Complex Challenge
While the integration of AI education is on the rise, it comes with challenges. The dynamic nature of AI technology makes it necessary for educators to adapt continually. Teaching AI involves not only conveying its capabilities but also addressing ethical considerations and limitations. Educators must equip students with the ability to use AI in an informed and responsible manner.
Paul Almeida, Dean of Georgetown University McDonough School of Business, emphasizes that AI has long been in existence, but what distinguishes the present is its practical applicability in business and organizational contexts. This shift requires educators to think critically about how to prepare students for an AI-driven future.
AI’s Impact on the Workforce
The influence of AI on the workforce is undeniable, with automation projected to impact nearly half of current work activities between 2030 and 2060, as reported by McKinsey. AI has the potential to automate tasks that currently occupy a significant portion of employees’ time. However, it’s important to note that the introduction of AI doesn’t always result in increased efficiency or performance.
A study involving a master’s-level class in behavioral economics found that students using AI chatbots for assignments performed worse. This suggests that, in some cases, AI assistance may lead to suboptimal outcomes, possibly due to biases or other factors yet to be explored. As a result, one of the essential skills for the future is the ability to use AI effectively.
Business Schools Shaping the Future of AI
Business schools play a pivotal role in shaping the thinking and decision-making of future leaders. Their role extends beyond just educating students about AI; they influence the way future professionals consider various stakeholders and navigate the AI-powered landscape.
AI’s pervasive presence raises a multitude of questions, from the impact on employment to changes in the workplace. As breeding grounds for tomorrow’s leaders, business schools have a unique opportunity to steer the trajectory of AI and ensure it serves society in an ethical and productive manner.
