GEN AI: HOW B-SCHOOLS CAN SHOW HOW TO RIDE THE WAVE

Going beyond implementing AI in curriculum and pedagogy, business schools can create leaders who can learn to deploy it with a critical eye on its biases, ethical aspects and human considerations

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Jane Street, a Wall Street trading firm renowned for its algorithmic trading strategies, reportedly generated over $10 billion in net trading revenues in 2023. The firm is also said to have outperformed most Indian trading firms in the derivatives market by achieving substantial profits and impacting a legion of clueless retail traders as collateral damage, according to business press reports. This dominance derives from the competitive edge provided by the trading strategies, particularly in high-frequency trading environments, reshaping global finance.

Similarly, Al in digital advertising generate, test, and deploy content at a humongous scale in real time, enhancing performance. Another upshot of Al is in levelling the playing field for startups, using no-code tools to automate customer service and optimize supply chains, a trend that's transforming entrepreneurial worlds.

For instance, a 2024 Gartner study predicts that within a year, 65% of all applications will be developed using no-code or low-code tools, with Al powering 45% of the fastest-growing enterprises, highlighting the trend's significance. A more profound impact can be felt across business functions or verticals as firms gear up to adopt Gen AI. This shift is not only reshaping how businesses operate by automating mundane, repetitive tasks the so-called 'boring' yet essential aspects of running any business through Al but also making tremendous strides in analyzing complex data that humans cannot process, thereby providing critical insights for decision makers.

Critically engaging with AI

This may sound like a cliché, but as Al reshapes industries, business schools must adapt to ensure their graduates remain relevant in this AI-driven world. Traditional curricula, focused on structured analysis and strategic planning, must now incorporate Al literacy teaching leaders not just how to use AI, but how to critically engage with it.