Posted on November 30th, 2023 by TN Unnikrishnan First Year MBA (General)

The advent of the Internet was a major catalyst that merged the business and technological sectors into a singular business model. Over the past decade, however, there has been a rush to adopt AI in businesses. For example, the improved ability of financial institutions, courtesy of AI, to predict the creditworthiness of their customers has reduced or prevented the accumulation of NPAs. Financial giants like Goldman Sachs had projected that AI would contribute significantly, with an estimated boost to global GDP by 7%.
The increasing use of AI has tremendously impacted the MBA sector, requiring it to adapt to the changing corporate landscape. Business schools have started incorporating AI-focused content such as Tableau for data visualisation, IBM Watson for analytics and natural language processing, etc., into MBA programs, recognising the requirement for graduates adept in business strategy and technical advancements. Integrating AI into core MBA classes, such as strategy, marketing, and operations, empowers students with multifaceted skills that will benefit them and the organisationsthey are associated with for the long haul.

Despite AI’s myriad capabilities, it lacks emotional and social intelligence, critical components of effective leadership. AI also cannot replicate human creativity, judgment, and common sense. These human capabilities will perpetually remain in high demand, serving as valuable assets in the business world. Hence, the value of an MBA will continue to be relevant, provided the qualification has been upgraded and is dynamic as per the latest innovations in AI.

AI is transforming the business landscape, emphasising a data-driven and analytics-focused approach. MBA graduates need to develop AI, data analytics, and computational tools skills to remain competitive in the job market. Additionally, they must focus on building skills difficult for AI to replicate, such as emotional intelligence, creativity, and interpersonal communication.

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