Artificial Intelligence Should Be Top Priority For Business Schools In 2019, Say MBAs

MBA students predict how the degree will change this year, and how it should change

Artificial Intelligence (AI) was one of the hottest topics across MBA campuses in 2018. This year is set to be no different.

The Consumer Electronics Show (CES) takes place in Las Vegas in January and AI is expected to make its presence felt across every category of a show which exhibits close to 4,400 different companies: evidence of AI's influence on every industry, not just the tech sector.

Indeed, when we asked MBAs about their predictions for the future of the MBA in 2019, many of them pointed to more focus on learning about AI as the key change that will—or should—happen.

Here’s how MBA students from around the world expect the degree to change in 2019:

Artificial Intelligence will be a key focus

“Given the speed of change in technology and its impact on businesses, I suspect that the big trends in MBAs will include artificial intelligence, machine learning, blockchain, and big data analytics,” says Liqian Lim, a recent graduate from the full-time MBA program at INSEAD.

Before her MBA, Liqian headed up the legal...

ment of an international conglomerate, working closely with the CEO to drive rapid expansion. She still works in commercial negotiation and sees the applications of AI close to home.

“The way in which lawyers work has remained largely unchanged for centuries but now, there are tools to increase efficiency, de-risk certain scenarios, and commoditize more process-driven work,” she reports.

Liqian would like to see more MBA programs focus on how specific industries or roles are responding to AI in 2019.

“I think it would be very interesting to understand, in more detail, the impact of cutting-edge technology on specific businesses and how to best employ the right technology for one’s business,” she says.

Terry Tu, a current MBA at the University of Oxford’s Saïd Business School, agrees. He says it will be "increasingly difficult to become a business leader without a certain level of knowledge about technology.

“CFOs need to consider automation in their finance processes, CTOs have ever-changing security and systems needs, CMOs have seen changes in the way they target consumers because of technology and new platforms," he explains.

Terry’s background is in accountancy but, like Liqian, he thinks that MBAs regardless of industry or discipline will be making AI familiarity a priority.

“Business students of all disciplines will increasingly want more technology-related electives alongside their traditional strategy and finance classes,” he says. “Saïd has already begun offering a fintech elective, where we were able to meet and interact with fintech startups in London.”

Core MBA curriculum will become more diverse

Tech teaching shouldn’t just be sidelined to electives.

As AI and similar technologies penetrate the mainstream, it follows that they penetrate core MBA curricula too—general marketing courses should naturally focus increasingly on digital marketing and analytics, and HR teaching should include summaries of how AI is aiding and obstructing various HR objectives.

MBA students say such changes will help them adapt to the future of management.

“Students are concerned about their role after school and the numbers show two clear trends: graduates increasingly looking to work in tech or entrepreneurial roles,” notes Kellogg School of Management MBA Layon Costa. “To reach that, they will need specific skillsets, such as leading cross-functional teams and knowing customer design processes.”

It’s not just about technical skills, either—Layon believes that technological change will prompt MBAs to ask for courses that help them adapt to the dynamic environment we are now living in.

“They’ll need to step out of their comfort zone to learn the value of leading within ambiguous environments, and also motivate employees that do not necessarily report to them—this will require soft skills classes,” he says.

“In terms of design, they’ll need to generate accurate consumer insights based on pain points and data is a critical area of emphasis. Classes focused on different types of research, design thinking, and data analytics will be needed.”

Asian MBA programs will boom

Increasingly, MBA students see their contemporaries looking away from the USA for their education. Yoonki Li, an MBA at Duke University’s Fuqua School of Business, says that he expects MBA applications to shift elsewhere in 2019.

“International students are disenchanted at limited visa sponsorship opportunities in the US and begin to turn their attention to countries that are more supportive to foreign students," he says.

Manuel Valencia, a CUHK Business School MBA student, predicts that a decline in interest in the USA will mean an increase in interest in Asia—indeed, it was a choice that he himself made when selecting an MBA program.

“Location played an important role in choosing CUHK as my school and CEIBS as my exchange school,” Manuel recalls. “An MBA in Europe wasn’t going to differentiate me as I am European, and a program in the US was not aligned with my future plans.”

Evidently, students are anxious to find a foothold in the shifting ground of global employment in 2019.

Although their focus may be moving East, INSEAD MBA Yassine Lahlou believes that their priorities remain firmly global.

“[Schools need to have] open architecture to freely explore opportunities in terms of careers, leadership development, and access to deep and meaningful networks,” he says.

This is yet more evidence that, although the route by which the MBA takes graduates to success may be changing, the ultimate destination, and the trust put in the degree by students, remains the same.