Dr Bhupender Kumar Som is Director at GNIOT Institute of Management Studies (GIMS), Greater Noida, Delhi/NCR The aspirants taking the MBA/PGDM course and starting their career in the management domain will have to do a lot of decision-making. With the advent of AI, a lot of decisions are made without human intervention. It is not only about the decision-making, but rather it is a shift at the core of the business. AI is effectively delivering other functions of management, such as strategies, operations, forecasting, etc.

Having said that, the fundamental question in front of young aspirants is, “What tools do they need to master for sustainable career growth”? Do they have to move away from the traditional specialization, such as. Marketing, finance, operations, and human resources? Or they have to maintain a balance between learning the traditional specializations and taking AI as a top-up course.

Transforming Business Education Through Data Intelligence

Management education has seen the transformation from management being more of an art to management becoming more of a science. The logical intervention of data analytics removed a lot of managerial delusion. Data analytics is putting the patterns, evidence, and projections based on concrete information rather than based on instinct. 

Tons of data are produced each passing second, and correct data analysis provides a robust input for artificial intelligence tools. AI tools process the information highly efficiently in a quick time and produce tailor-made solutions and decisions to corporate problems.

Hence, it is clear that qualitative decision-making is no longer driving business success. Data analytics and artificial intelligence are providing a decision-making approach with in higher probability of success.

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A Three-Layered Curriculum to Build Future-Ready Managers

As the corporate demands manpower with the skill of operating in the realm of data analytics and artificial intelligence. The MBA/PGDM programmes are thus pushed to amend their curriculum in tune with the corporate requirements. First, data analytics is introduced to the MBA/PGDM curriculum. As data analytics and AI operate like an umbrella in the organizational structure for all management domains these days, these topics are encompassed at two different layers in a dynamically designed curriculum. The management programme is taken by graduates from various domains. The students who have completed their graduation in commerce, computer science, arts, science, pharmacy, engineering, health care, or any other stream are eligible to do an MBA/PGDM.

The first layer of incorporating AI and data analytics in the curriculum is to bring the students on par with the fundamental understanding of the tools on which these courses are built. The basics of programming, Excel, modelling, and other languages, along with the digitization of information, come as part of the curriculum. Upon this foundation, the second layer of curriculum is built. This includes the overall application of data analytics and AI for managers in decision making, strategy, planning, and operations. The third layer of the curriculum incorporates the area-specific tools of AI and Data Analytics. The courses like marketing analytics, HR analytics, financial modelling using AI, and Digital Supply Chain train the students on specific tools of expertise.

Teaching the Tools of Tomorrow, Today

Further, the curriculum design of a smart PGDM/MBA programme dives deep into the content of each paper, which delivers AI and Data Analytics. The curriculum further sees upgradation in terms of teaching pedagogy. The delivery of AI and Data analytics courses can not be done with traditional teaching and learning methods. A balanced approach of practical and theoretical learning needs to be adopted throughout. These courses are taught in labs by the academic faculty and industry practitioners for contemporary and sustainable learning.

Hence, PGDM/MBA curricula are shaped largely with the advent of AI and Data analytics. The management has become largely a domain driven by data science, built upon the fundamental principles. Increasing the scope of AI and data analytics in the time to come is foreseeable.

As per a report, 70% of the business processes can be automated using AI and data analytics. The key ingredients for running the business successfully, efficiently, and error-free are fundamental knowledge, data analytics, digitization, and artificial intelligence. The management aspirants shall always look forward to developing the competence that not only caters to current needs but also to future needs. The PGDM/MBA institutes are also becoming competent with an upgraded curriculum by encompassing AI and data analytics at different levels, i.e., from beginner to expert in specific domain areas.

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