I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First. ...Full Bio
I work at ValueFirst Digital Media Private Ltd. I am a Product Marketer in the Surbo Team. Surbo is Chatbot Generator Platform owned by Value First.
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Artificial Intelligence to have a big impact on business education in 2018
The top deans of the world feel that robots are going to rise in business education in 2018.
Business School heads feel that Artificial Intelligence will be one of the trends having the biggest impact on management education in the current year.
Francisco Veloso, dean of Imperial College of Business School spoke about how Digital & AI are rapidly changing the way we live & work in many ways. He expects to see schools focusing on these areas in 2018.
"As businesses transform to keep up with the pace of technological change, schools will need to do more to provide students with the tools they need to undertake careers or start businesses in areas such as blockchain, fintech, crowdfunding, or social innovation," he adds
Business schools will also pay more attention to the ethics behind tech innovation, according to Bill Boulding, dean of Duke University's Fuqua School of Business in North Carolina.
He says: "We can't lose the human element in technological advances or we risk losing the values that anchor our lives. For example, our students need to think hard about the balance between rule-based algorithms and human judgment."
Over the past year, several top schools have launched electives in their MBAs which are exploring the impact of AI, including INSEAD, MIT Sloan, and Harvard Business School.
The schools hope to prepare students for a world of work which, many believe, will in the near future incorporate more machines.
While manual labour is most at risk of displacement from automation, says the consultancy firm PwC, white-collar roles are, increasingly, being digitized - from lawyers to equities traders.
AI is creeping into the MBA jobs market, with employers such as IBM using robo-recruiters to screen candidates. Companies are also seeking managers who can manage algorithms across service lines, and use data to make business decisions better.
"Employers will more rapidly adopt digital screening processes to broaden their reach, and hire the very best candidates," says Paul Almeida, dean of Georgetown University's McDonough School of Business in Washington DC.
He added that business schools will begin to offer more electives around data, analytics & AI using the new online platforms that are increasingly becoming a standard way of teaching.
AI will also impact the way students learn online. One of the essential components of learning is feedback. Presently, students receive limited feedback from classmates and faculty. Very soon, this feedback will become readily available with the help of automation. This will enable students to receive feedback after every session.