**Artificial Intelligence in Business Schools: An Exciting New Frontier**
In the ever-evolving landscape of business education, the integration of generative artificial intelligence (AI) is gaining steady momentum. According to a recent survey released by the nonprofit Graduate Business Curriculum Roundtable (GBC Roundtable), a majority of faculty and staff in business schools are recognizing the importance of incorporating AI technologies, such as ChatGPT, into their curricula.
“The growth of generative AI presents unique challenges and opportunities for business schools,” says Jeff Bieganek, executive director of GBC Roundtable. “It is exciting to see the thoughtful and impressive actions that institutions are taking to integrate generative AI into their programs, curriculum, and operations.”
**Current State of Generative AI Integration**
The survey conducted by GBC Roundtable involved 68 business schools primarily located in the United States. Out of the 72 faculty and professionals who responded, 74% reported that their institutions already teach generative AI as a subject in their curriculum. However, only 15% indicated that generative AI is significantly or fully taught within the business school curriculum.
The most widely covered generative AI topics in business school curricula include Intro to AI, Ethics/Legal Implications, and Industry Innovation. While the adoption of generative AI usage in business schools is still limited, educators are putting emphasis on integrating this technology into various areas, such as job interview and resumé preparation.
**Guardrails for Responsible AI Usage**
Due to the potential for misuse and abuse of generative AI tools, business schools are taking steps to establish guidelines and policies. The survey revealed that at the time of the survey, only 30% of the participating institutions had a policy regarding generative AI, while 20% were in the process of developing one, and 33% reported that discussions were underway.
Institutions with established generative AI policies exhibited a greater integration of generative AI as subject matter and an increased focus on faculty research in the area compared to those without policies. This suggests that having clear guidelines can facilitate the responsible and effective use of generative AI in educational settings.
**Innovations Linked to Generative AI**
While generative AI usage in business schools is still relatively limited, some institutions are exploring innovative applications. These include the potential use of AI chatbots for handling repetitive questions and providing advising services, incorporating AI in batch grading of answers, and utilizing generative AI for self-assessment exercises.
Additionally, generative AI is being employed to enhance student success in areas such as student recruitment, curriculum design, and improving the student experience. Business schools aim to personalize the student experience by utilizing generative AI in advising, tutoring, and career coaching.
**Insights from the Field: The Classroom Experiment**
A study conducted by HEC Paris professor Brian Hill explored the impact of AI chatbots on student performance in behavioral economics. The results indicated a reduction in performance when students utilized AI chatbots for assignments. Hill argues that without a better understanding of generative AI, future professionals may struggle to perform as effectively when aided by AI.
Hill emphasizes the need for further research to understand the dynamics between humans and AI chatbots. He advocates for the inclusion of chatbots in classrooms to equip students with the skills to evaluate and correct AI output, which aligns with the potential realities of future workplaces.
**Expert Opinions: Embracing Generative AI**
Professor Jaideep Prabhu from Cambridge Judge Business School views generative AI as a valuable tool for business students. He emphasizes the importance of caution and critical thinking when using generative AI and highlights the significance of framing questions effectively to obtain accurate responses.
Professor Thomas Roulet at Cambridge Judge Business School believes that generative AI can complement existing teaching methods. He sees AI as an aid to develop students’ judgment skills, as it can offer valuable insights while encouraging students to trust their own abilities.
The integration of generative AI in business school curricula signifies a promising frontier in education. As the use of AI becomes more prevalent in various industries, it is essential for future professionals to develop the skills to interact effectively with these technologies. While caution and guidelines are necessary to ensure responsible AI usage, the potential benefits of generative AI in enhancing the student experience and preparing students for the job market are significant.
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*Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official position of GPT News Room.*