Businesses in the realm of education, particularly business schools, are set to encounter a transformative influence from advanced AI technologies – a question of 'how' looms large.
Generative AI is currently revolutionizing various industries, and business education is no exception. Tools like ChatGPT, DALL-E, and Bard are becoming increasingly prevalent, affecting how business education is delivered, experienced, and assessed. But what impact will generative AI have on business schools in the near or distant future? This depends on who you ask.
To explore the broad transformations brought by generative AI in the world of business education, I consulted four experts within my academic network: Jonathan Boymal, Associate Professor of Economics at RMIT University; Donald Clark, AI entrepreneur and author of Artificial Intelligence for Learning; Patricia Feubli, Professor and co-head of the MSc in Information and Data Science at the Lucerne School of Business; and Douglas MacKevett, Head of Digital Learning Services at the Lucerne School of Business.
All four agreed that generative AI is already reshaping the interaction between students and educators in business education. Embracing opportunities while mitigating risks is essential for business schools, according to MacKevett.
When I asked these experts about the potential impact of AI on students, business schools, and society ahead, they had intriguing responses. I summarized some of their observations below as five key questions. While the answers to these questions will only become apparent in the coming months and years, they will significantly impact the learning and work landscape.
1. Will The Utilization of Generative AI Benefit Student Learning?
Students are increasingly using AI tools for a variety of purposes, such as clarifying concepts or refining assignments. While this offers convenience, it might come with drawbacks. As Boymal noted, students risk bypassing “friction and desirable difficulties” necessary for meaningful learning by relying on AI to reduce their cognitive load. This could potentially undermine the development of essential skills.
Reducing educational equity is another concern: while AI benefits knowledgeable individuals, novices may face challenges due to the tool's limitations, such as inaccuracies or biases. It remains to be seen whether AI can help or hinder learning among certain student groups.
2. How Will Social and Emotional Aspects of Learning Be Preserved?
Effective AI integration into education relies on creating an environment that supports growth, collaboration, and critical thinking. AI allows students to seek help in a 24/7 manner, providing guidance on concepts and assignments. However, to ensure deeper engagement and meaningful learning, a learning culture rich in motivation, curiosity, and collaboration is necessary.
AI alone cannot replicate the social and emotional elements of education, which are essential for complex problem-solving. Fostering learning cultures that blend AI with human-centered education, promoting emotional resilience, social collaboration, and creativity, will be crucial.
3. Will Professors Maintain Knowledge Authority?
Generative AI is beginning to undermine the traditional role of professors as knowledge gatekeepers. As students rely more heavily on AI tools, the authority in determining correct information will shift towards learners. This raises questions about the future of academic authority and expertise.
4. Will Lecturers And Disciplines Remain Relevant in The Future?
The changing role of knowledge transmission and the decreasing authority of professors raises questions about the future relevance of lecturers and disciplines. The responsibility for determining what constitutes correct information will likely become more distributed in the future. Some degree of adaptability, incorporation of AI into teaching methods, and a focus on applying knowledge to address real-world problems will be essential for lecturers to remain relevant.
Source: Five Unanswered Questions On AI’s Impact On Business Schools
Paraphrased:
Generative AI is modifying industries, and business education is no exception. Tools like ChatGPT, DALL-E, and Bard are becoming widespread, affecting how business education is delivered, experienced, and evaluated. However, it's unclear what impact generative AI will have on business schools in the next year or five. To explore the broader changes brought by AI in business education, I spoke to four experts in my academic network. They all agreed that generative AI was already altering how students and educators interact with business education.
I then asked these experts about the likely impact of AI on students, business schools, and society in the coming months and years. They had some compelling insights, which I've summarized below:
- Will the use of generative AI benefit student learning?
The convenience offered by AI tools might come at a price. While students will have access to a 24/7 personal tutor, they risk bypassing essential learning opportunities. Outsourcing tasks to AI tools could hinder skill development, specifically in novice learners.
- How will the social and emotional aspects of learning be maintained?
Effective AI integration requires the creation of an environment that supports growth, collaboration, and critical thinking. In a thriving learning culture, AI can enhance learning. However, in less engaging environments, students might view AI as a shortcut, bypassing the deeper engagement necessary for meaningful learning.
- Will professors retain knowledge authority?
As students rely on AI tools more heavily, the role of professors as knowledge gatekeepers may diminish. This shift raises questions about future knowledge transmission and academic authority.
- Will lecturers and disciplines remain relevant in the future?
Adaptation, integration of AI into teaching methods, and a focus on applying knowledge to real-world problems will be vital for lecturers to stay relevant.
"One notable shift I predict is shifting away from conventional lectures, instructor-created resources, and multiple-choice tests, toward a model emphasizing guidance and real-time performance evaluations," Mackevett noted. AI's ability to cater to individual needs could disrupt conventional teaching methods, offering personalized learning experiences at every level of the educational journey. This shift poses a significant challenge to the dominance of traditional lectures and one-size-fits-all assessments.
Feubli posed an equally thought-provoking query: "To what extent will disciplines like marketing and accounting continue to have an impact in the future?" Presently, business schools produce specialists—graduates distinguished by their expertise in HR, marketing, or other areas. However, as AI blurs boundaries between fields and promotes collaborative work, the importance of narrowly-focused disciplines could wane, forcing schools to reassess their curriculum design to satisfy the needs of an interconnected future.
5. Will Business Schools Continue to Matter in the Future?
Perhaps the most challenging question is, "How can young people be motivated to pursue formal education rather than relying on generative AI?" Feubli's inquiry touches on the tenuous future of business education. With AI emerging as a widespread and powerful substitute for traditional learning, the relevance of structured education is coming under scrutiny.
Boymal added another layer to this challenge: the disturbance of traditional career paths. With AI poised to manage entry-level tasks, young professionals might miss out on crucial opportunities to "acquire hands-on experience and mentorship"—critical components for career growth. This potential hole could slow down professional development and hinder the emergence of future industry leaders.
Unanswered Issues
AI's disruption is indisputable, and while its impact on business schools is beginning to be felt, even the experts I consulted aren't fully certain where it will lead (neither are experts in other domains, for that matter). The issues outlined above reveal just how fuzzy the landscape is.
Will business schools favor their human-focused value proposition, or will they lean toward AI-driven personalized education—or find a way to combine the two? Will they take the lead in preparing future-proof leaders or struggle to adapt to a terrain they no longer command? Will they even exist? These questions remain unanswered.
What is certain is that AI is not simply another resource; it's a force reshaping the fundamentals of education. As with any disruption, both opportunities and hazards abound on the path ahead.
In the context of the given text, here are two sentences that contain the words 'business education', 'business schools', and 'educational leadership':
- Embracing opportunities while mitigating risks is essential for business schools, according to MacKevett, who is the Head of Digital Learning Services at the Lucerne School of Business.
- With the increasing use of AI tools in business education, there are concerns about reducing educational equity, as more knowledgeable individuals might benefit from AI, while novices might face challenges due to the tool's limitations. This is an issue that falls under the realm of educational leadership within business schools.
