Learn about how IMD Business School in Switzerland is integrating AI into its MBA learning experience. This intersection of AI and education at IMD prompts a broader question: Are we on the cusp of a major transformation in the global education sector? Join us as we delve deeper into the implications and exciting possibilities that lie ahead.
The incorporation of AI into business education is unfolding rapidly. ChatGPT-3 made its public debut in December 2022 and astounded the world with its unparalleled generative language capabilities. The initial narrative focused on how this new groundbreaking technology would disrupt various industries. Education was one of the sectors reported to be on the firing line.
The world of education had been transformed overnight. Generative AI tools were quickly proving that they were capable of writing A-level academic essays, solving complex problems, and even passing medical exams. In response, universities established guidelines to restrict the use of AI tools such as ChatGPT in academic settings.
However, over time, a shift in perspective has emerged. The education community has started to realize that tools like ChatGPT aren’t necessarily the enemy. Schools and universities are recognizing the potential to leverage AI to enrich the learning experiences of their students
“What AI does is it gives us new tools, new capabilities, to help tailor insights and lessons to each individual learner,” says David Bach, the Dean of Innovation and Programs at the International Institute for Management Development, better known as IMD Business School, in Switzerland. (00:11)
Contrary to initial apprehensions, institutions like IMD are now incorporating AI into their curriculum. Far from being a looming threat, AI is now being seen by many as a promising educational ally.
At IMD, MBA students are immersed in a dynamic learning environment where AI-driven technology complements their educational journey. An AI-integrated mobile application stands ready to answer any course-related questions they might have.
“It’s almost like you could walk up to the front of the room [and] ask the professor a question after the session,” David says. “Only that the whole thing happens three days later, and you might not even be in the same place anymore.” (01:02)
Sarah Toms, Chief Learning Innovation Officer at IMD, outlines some questions students can ask the app: “What was the session about? Where is this going to be difficult for me? Do you have any recommendations for good books? What were the frameworks that the faculty member specifically spoke about?” (00:48)
This IMD app exemplifies how AI can support and improve education. Far from supplanting lecturers, the app acts as a supplementary resource, ensuring students have consistent access to crucial information. Moreover, it’s a boon for those engaged in remote learning to help maintain their academic focus.
AI can be a helpful tool, but that doesn’t mean we should go full speed ahead and implement AI into everything. We’ve seen the benefits it can have for society – but we’ve also seen the potential negatives.
A sobering Goldman Sachs study from March 2023 projects a loss of 300 million jobs to AI in the coming years. This research underscores the need for a judicious approach to AI integration, one that mitigates AI’s potential social disruptions
“It’s a huge revolution because it will have not only business implications but also societal level implications,” says Öykü Işık, a Professor of Digital Strategy and Cybersecurity at IMD. (01:59)
“I am very positive in terms of its value in our organizations, but I’m also acutely aware because I teach these topics that there are many things that are often ignored about this. So we just need to make sure that these things are taken into consideration, and our leaders, our executives make sure that they push the responsible AI agenda in their organizations.” (02:07)
As Işık says, the responsibility for overseeing AI within businesses will fall on the shoulders of corporate executives. This fact drives IMD’s proactive stance towards AI. By equipping future business leaders with a nuanced understanding of these emerging technologies, they’re preparing the world to handle the societal shifts spurred by AI.
One thing is clear: AI is here to stay.
We’re already starting to see the impact of AI in business schools. But in the next few years, you can expect to see the pace of change accelerate. Sarah Toms says the education industry has been “primed for disruption for a very long time now.” This is just the beginning.
“What we’re going to now see is hyper-personalization coming to life,” she continues. “We’re going to be able to achieve more interactivity, less passive learning modes. And the ability for learners to engage not just in courses and degrees that have a certain amount of time, but to go into lifelong growth.” (02:42)
Time will tell whether or not Sarah’s predictions will come true. IMD is choosing to be an early adopter of a technology that nobody truly understands the full potential of yet.
Like in other industries, the key to AI’s success in the education sector will be using it responsibly. Incorporating AI within teaching models is certainly exciting, but it’s essential to make sure it genuinely improves the learning experience.
IMD is betting big on AI, and they are inviting you along for the ride.
Learn more about IMD on their MBAGRADSCHOOLS school profile.
