Business schools are currently integrating AI into their curriculums to enhance the competitiveness of their graduates in the job market. They are also promoting the utilization of AI in coursework. According to a Columbia professor, even short sessions of AI, such as “15-minute little bursts,” can provide significant value.
To ensure their graduates remain competitive, business schools are fully embracing AI. Many institutions are adapting their curricula to stay abreast of rapid technological advancements. Some professors are going as far as creating specialized AI chatbots to impart soft skills to students.
For instance, American University’s Kogod School of Business plans to embed AI across all aspects of its curriculum starting in the fall. This initiative includes the introduction of 20 new classes covering topics from forensic accounting to marketing, as reported by The Wall Street Journal .
Meanwhile, Hitendra Wadhwa, a professor at Columbia Business School specializing in leadership studies, has recently introduced LiFT, an AI-powered leadership tool. This tool aids students and others in preparing for high-stakes events by planning and practicing beforehand, leveraging OpenAI’s large language models fine-tuned with Wadhwa’s extensive teaching experience.
Users can seek guidance from LiFT on navigating challenging meetings or preparing for emotionally charged conversations. They even have the option to choose the temperament of their virtual coach, whether empathetic or direct. Wadhwa highlights the benefits of spending just 15 minutes with the tool a few times a week, leading to improved decision-making, increased openness to diverse perspectives, and better conflict resolution skills.
The emphasis on AI skills aligns with the demands of employers who value technological competencies in business school graduates. A 2023 report from the Graduate Management Admissions Council revealed that about 75% of US employers consider technology skills like AI, machine learning, data visualization, and programming crucial for graduates. However, there is a perception gap, with fewer than half of employers believing that graduates are adequately prepared. Moreover, over 60% of employers anticipate the growing importance of technology skills for future graduates.
Beyond job readiness, professors are keen on imparting a holistic understanding of AI’s implications for the future of work. Ethan Mollick, a professor at the University of Pennsylvania’s Wharton School, considers AI proficiency an essential skill and mandates the use of ChatGPT for his students. He challenges students to automate aspects of their work, preparing them for potential insecurities upon realizing AI capabilities.
While some professors like Mollick emphasize the potential existential crises associated with AI adoption, Wadhwa advocates for a more positive approach. He believes that engaging with AI from a place of abundance and curiosity enhances the learning experience and joy derived from it.
It’s worth noting that Axel Springer, the parent company of Business Insider, has entered a global agreement with OpenAI, allowing the training of AI models on its media brands’ content.
