Business education is evolving, and AI is playing a big part in that transformation. MBA programs, always on the lookout for the latest industry trends, are now tapping into the power of artificial intelligence to change the way students learn.
This shift isn’t just about making the classroom experience more engaging — it’s about preparing students for a business landscape that’s increasingly driven by AI.
“Artificial intelligence is poised to fundamentally transform every sector of business and society, and the world needs reliable, evidence-based insights about its practical and responsible use today,” says Erika James, dean of the Wharton School at University of Pennsylvania.
“Business schools have a crucial role to play in understanding and advancing an AI-enabled world,” she adds.
“That’s why we are investing heavily in areas that allow our faculty to navigate the avalanche of interrelated issues AI has broached.”
For example, Wharton is the first business school to partner with OpenAI, providing enterprise licenses for its wildly popular chatbot ChatGPT, to all full-time and executive MBA students. This move aims to give students hands-on experience with generative AI, preparing them for an AI-driven business world.
AI Tools That Tailor to Learning Styles
But in the classroom, one of the main things AI brings to the table is the ability to tailor learning to each student’s unique needs. In a traditional classroom, it can be tough for professors to cater to the different learning styles and paces of every student. But with AI-powered tools, like adaptive learning platforms, that’s starting to change.
These tools analyze how each student learns and adjust the material accordingly.
For example, if a student is struggling with a particular concept, the AI can provide extra resources or alternative explanations to help them grasp it better.
On the flip side, if someone is breezing through a topic, AI can challenge them with more advanced material, keeping them engaged and motivated.
“If used properly, AI could bring greater personalisation to the MBA experience and the ability to accelerate knowledge acquisition and development of collective intelligence among students,” says David Shrier, professor of practice in AI and innovation at London’s Imperial College Business School.
He adds that AI offers the possibility of greater personalization, allowing students to tailor their educational experiences more closely to their needs. At Imperial College Business School, for example, professors have already tried out a “Davatar” — basically, a digital version of the professor that’s loaded with tons of information. Students can interact with it anytime, anywhere, making learning more interactive and accessible, even if they’re on the other side of the world.
Interestingly, Shrier says that even students who are physically in the classroom found this AI tool a highlight, showing that MBA students are pretty open to new ways of learning.
Enhancing Case Study Analysis
Meanwhile, AI is being applied to case studies. They’ve long been a cornerstone of MBA education, but they can be time-consuming and complex for both students and professors. AI is stepping in here as well, helping to streamline the process.
Some business schools are using AI to analyze large sets of data quickly, providing insights that students can use to deepen their understanding of a case.
This not only saves time but also allows professors to focus on guiding discussions and encouraging critical thinking rather than getting bogged down in the details.
AI is also making it easier for professors to give students real-time feedback. Imagine working on a business plan and getting instant, AI-generated suggestions on how to improve your strategy or financial projections.
This kind of immediate feedback can be incredibly valuable, helping students to learn from their mistakes right away and apply those lessons to their work. It’s like having a personal tutor available 24/7, ready to help whenever you need it.
Some business schools are even experimenting with AI-powered virtual teaching assistants. These assistants can handle routine tasks like answering frequently asked questions, grading assignments – and even leading group discussions on certain topics.
This frees up professors to focus on more complex and interactive aspects of teaching, like mentoring students and facilitating in-depth discussions. Plus, it means students can get help whenever they need it, even outside of office hours.
Challenges on the Horizon
But it’s not all smooth sailing. Marc Sosna, the executive director of the Learning Innovation Unit, at IESE Business School in Spain, says the integration of AI raises concerns about ethics, data bias and the potential loss of crucial human interactions in education.
“Education and learning is fundamentally a social process, and there’s a risk that over-reliance on AI might reduce the human interaction critical to developing various skills and enriching the overall program experience,” he says. “This includes teamwork, coaching, mentoring, and networking.”
Additionally, he says the initial investment in AI infrastructure and the need for training could be significant. There is also the risk of student resistance, especially in elite programs where face-to-face interaction with faculty is highly valued.
Also, Shrier, at Imperial College, says there’s a real concern that students might become too dependent on AI, losing some of the critical thinking skills that come from doing things on their own.
“Just as we have a generation of students who no longer know how to write longhand, we may see a generation of students arising who lack the cognitive ability to operate without an AI assistant,” he says.
But ultimately, by integrating AI into the classroom, business schools are giving students a taste of the technology they’ll likely encounter in their careers. So as AI becomes more prevalent in the business world, understanding how to work with these tools — and how they can be used to make smarter decisions — will be crucial.
