Businesses are reaching out to candidates in search of individuals with Artificial Intelligence skills.
According to a study conducted in October by the Graduate Business Roundtable, 74% of business schools have integrated fundamental artificial intelligence concepts into their programs. This aligns with the findings from the Graduate Management Admission Council’s annual employer survey earlier this year, which revealed that 74% of employers are seeking candidates with software skills, particularly in AI and machine learning.
The annual Corporate Recruiters Survey by GMAC corroborates the insights from the GBC Roundtable’s earlier research. The GBC Roundtable, previously known as the MBA Round Table, is an international organization of business schools committed to advancing graduate business education through innovative teaching methods. The survey findings also resonate with a report by CarringtonCrisp from March, indicating a growing interest among MBA applicants worldwide in exploring the complexities and opportunities presented by emerging systems.
Furthermore, GMAC’s study reinforces the long-standing assertions by Poets&Quants and business schools that AI is currently a significant trend and will continue to be crucial in the foreseeable future.
EXPANDED DEMAND FOR OTHER TECHNICAL SKILLS
In the October survey conducted by GBC Roundtable, 72 faculty members and experts from 68 predominantly U.S.-based business schools discussed relational AI and the curricular offerings in their institutions. The survey revealed that 74% of the schools already include generative AI in their curriculum, echoing the demand identified by GMAC among employers. However, the actual implementation of generative AI in business school programs is limited, with only 15% of respondents indicating partial or complete coverage in their curriculum, and 19% offering dedicated courses on the subject.
The GMAC Corporate Recruiters Survey was compiled from over 1,000 responses across 34 countries between January and March 2023, with the full report released in June. The survey focuses on the influence of global trends and the anticipated future skills required by employers in their hiring decisions. Notably, over half of the respondents were from Fortune 500 companies.
Employers highlighted the importance of AI and machine learning skills for tech-focused graduates, with a growing emphasis on competencies in Web3, cryptocurrency, and virtual reality technologies, surpassing the demand for AI expertise. Cloud technology proficiency was also underscored by three-quarters of the surveyed companies as a critical skill.
VALUED SKILLS: ACTIVE LISTENING, MULTILINGUALISM, AND CROSS-CULTURAL COMPETENCE
Employers identified key skills for graduates, including communication, data analysis, and strategic expertise, anticipating their increasing significance as global connectivity expands. Particularly in the software and consulting sectors, bilingualism, active listening, and cross-cultural competence were highly valued skills expected to be crucial in the coming years.
Different regions exhibited varying priorities, with companies in Western Europe and the Middle East emphasizing cross-cultural competencies and nonverbal communication skills. In contrast, U.S. companies placed greater importance on fundamental communication abilities such as active listening, negotiation, and conflict resolution. Notably, U.S. employers expressed concerns about graduates’ preparedness in systems, software, and development skills, areas expected to gain more prominence over the next five years.
Nalisha Patel, the Europe Regional Director at GMAC, highlighted the evolving hiring landscape, emphasizing a growing emphasis on cutting-edge technology in recruitment. As workplaces continue to evolve with technological advancements, the necessary skills for success are changing, impacting collaboration and the knowledge required to thrive.
The Corporate Recruiters Survey from GMAC can be accessed below.
DO NOT MISS THIS: EXPLORE HOW B-SCHOOLS HAVE INCORPORATED AI INTO THEIR CURRICULA AND AI CERTIFICATES & SPECIALIZATIONS FOR MBAS IN A STRATEGIC AND DELIBERATE MANNER.
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