How AI can help business school students | Tangled AI
#AI is the biggest game-changer in recent times. The rapid rise of AI has pressed down the fact that AI must be incorporated into every business. But it should be done after carefully understanding its best practices and ethical implications. Apart from business adoptions, #artificialintelligence is also cementing its influence in education, especially in business schools. It is expected that the education industry will grow by 47.5% in 2021 with the integration of AI.
Business schools have started adopting AI to streamline both education and non-education related operations. Since the last decade, a handful of business schools have implemented AI-enabled systems to offer personalized education to students, alumni, and business educators.
Also, with the advent of covid-19, many business schools have embraced AI to conduct online learning more effectively. Let us now understand how AI can help business school students.
Personalized business programs
With a perfect blend of #machinelearning and #bigdata analytical models, business school students of today are exposed to personalized learning environments. It is very common to see MBA students being subjected to various entrepreneurial training and finance programs for developing their business acumen. But most of the time, the students end up taking classes that do not fit their skill set.
To help in this process, an AI-based recommendation system along with big data will come in handy. Based on the student profile and interests, different business domains will be allocated dynamically based on trends and aligns the students to the best tutoring resources.
For instance, Politecnico Milano has launched an AI-enabled application, Flexa, that provides personalized business and entrepreneurship courses for business school students, alumni, and even business organizations. AI-enabled business programs have proven to be much more fruitful than conventional business schooling as it has a data-driven approach to enlighten the students.
Career connections
AI can be used as a tool to connect business school students and their alumni for lifelong learning. Also, AI can connect recent graduates to alumni with specific and common career paths who can act as mentors. #ML can help figure out the skillset that is to be acquired by the students based on their aspirations, interests, and career path. AI helps students connect with the right executive programs offered by business schools. It can also benefit alumni and business school students to launch joint ventures, secure freelance work, and other business developments.
AI Mentorship
AI mentors can provide support to business school students by answering any queries related to a specific business program. It can even assist the students by providing the right training. However, AI mentoring is still in the experimental stages. It can never replace HI(human intelligence) and will always be used only as a subset, a tool to assist humans in imparting the right business education.
For example, Nuance is a transcription engine used by students with disabilities in writing and limited mobility. It is being implemented in some higher business education schools to convert speech to text so that students can transcribe speech and refer to it later.
Another tool, Knewton, uses adaptive learning technology for higher education. It comes with a program called Alta that can identify education gaps and knowledge gaps among students and help them to get back on track for higher education, especially in economics and business.
Updated curriculum
Business is always about innovation and out of the box thinking. There are new businesses emerging all around the world on a regular basis. So it is mandatory to stay in pace with the emerging businesses to have the upper hand in today’s business world. However, the traditional curriculum in business schools is not suitable to keep updated with the requirements of emerging businesses. And it takes years to update the business curriculum.
But with AI, business curriculum can get constantly updated to match with emerging business trends, irrespective of how big or small the industry is. AI and big data can also be used to analyze the various job opportunities in demand, hot trends, and skills required for the job. Based on all these data, a new curriculum can be designed.
Tracking financial initiatives
Business school students can seek financial aid for their startups through initiatives by government body. AI helps to keep tabs on such recently announced financial initiatives that will be a right fit for their business. AI also helps businesses to align with the right venture capitalist based on your needs. .
Hone Capital is already making use of this trend. It helps entrepreneurs to track down and differentiate themselves from other businesses leading to the right VC investing in them.
Ultimately by harnessing the power of AI, entrepreneurs will have a competitive edge in the market with better data-driven decisions and initiatives. Soon business school students will have an insight into the various capabilities of AI in garnering funding for their businesses.
AI Business School
AI business school is an effective blend of artificial intelligence and the business world. Understanding the potential of AI in the near future, business schools are garnering AI as a part of their operations resulting in AI business schools. Microsoft has launched an AI business school program based on AI strategy, responsibility and culture in business schools.
Winding up
AI along with its subsidiaries machine learning, big data, and #deeplearning are being used in all walks of education to constantly match with the pace of the growing trends. Business schools are implementing AI in such a way that complex tasks are automated, and students are subjected to new technologies to resolve their queries.
AI has been evolving as the most adopted disruptive technology in the market; from chatbots to warbots, AI is used everywhere. However remember this, AI cannot be used to completely replace HI(human intelligence) in business school. After all, AI can neither convey emotions nor understand the emotional angle of a requirement . But judicious use of AI in automating processes in schools can result in upliftment of it in the market and have a competitive advantage in this digital era.
