With the world seeing consistent shift towards technology, adding AI and deep learning to the B-school educational plan may very well be the answer to provide a progressively comprehensive and better quality education to the understudies. 20 years ago, the role of AI in our world was imagined as some sort of science fiction. However, as we entered 2020, AI is almost in every aspect of our lives, from the phones we use to connect to our families and peers, to the way we handle business and education. Yes! AI in education is more real than we anticipate. Whether we look at our traditional classroom scenarios or the progressive online education institutes, AI is everywhere, and for the better.
The main agenda of using Artificial Intelligence and deep learning in education is to pin-point the main areas where students need help. Through diagnostic testing used in various apps, educators are able to identify the level of a student’s knowledge, and it helps recognize what a student already knows and where he/she needs further help understanding the concepts.
Using this methodology, the educators have also been able to shift the focus from the conventional theoretical approach to a more practical based learning approach. Another notable improvement that the involvement of AI has brought forward in education is the ability of educators to develop customized curriculum depending on each individual student’s particular needs that he/she can learn from anywhere and on his/her own pace. Let’s take a closer look at the role of AI and deep learning in the Indian B-school curriculum and why it matters:
The Role of AI & Deep Learning in the Business World Today
As we know, the business world today largely revolves around AI. The world’s largest organizations and new startups alike are constantly utilizing their resources to improve their processes by either existing AI & deep learning apps and software or developing their own variants. To help understand this role better, let me share an example. The two most important areas for any business to have a strong foothold in the industry are talent acquisition and customer acquisition. And, both these aspects have been largely improved with the use of AI and deep learning.
“Whether we look at our traditional classroom scenarios or the progressive online education institutes, AI is everywhere, and for the better”
Talent Acquisition: Various organizations have openly announced that utilizing AI for hiring choices has made the procedure simpler, quicker, and increasingly exact, allowing them to save huge amounts of time as well as money that otherwise goes in constantly replacing the talent made on accounts of a bad decision. Additionally, it automates the hiring process to a good degree by sorting-out the most relevant resumes for the job description. This means, the recruiters need not go through every single resume that is sent their way and they can focus on the right candidates, right from the start.
Customer Acquisition: Multi-faceted AI can easily understand the behavioral buying patterns of customers through the available data. It then automatically targets and re-targets those customers who are most likely to buy a particular product or service. Conducting this kind of virtually precise analysis from the large pool of data is practically impossible for human employees. The limitations include the amount of time required to carry-out such mundane tasks and the higher degree of possible errors occurring due to the need of going through nearly similar data over and over.
The Need for Adding AI & Deep Learning in B-School Curriculum
Since today’s students are the business leaders of tomorrow, it is only logical to prepare them for what is ahead rather than sticking to our educational ways. For the same reason, not only have several B-schools added AI and deep learning based teaching approach to fill the knowledge gap, but have also made the two a part of business studies curriculum. Here’s how can business students benefit through this addition of AI and deep learning in their curriculum?
It can help understudies to understand the basics of AI and machine learning itself, along with other progressively complex subjects like psychological frameworks, cognitive systems, business planning and others.
Since deep learning methodology is based on focused research, evaluation, and representation, it can help business students whose basic course learning curve heavily depends on various deduction techniques and critical thinking.
Lastly, AI based programs although virtually precise still need to be monitored closely, as a small variation in data can lead to program failure. (This is because AI based programs are usually narrow domain). Business professionals can only handle such responsibility if they understand how AI and deep learning works.
Dr. Suresh Nagpal, Chairman
The founder of the revolutionary e-learning website simplelecture.com, Dr. Suresh Nagpal has been the chairman of the esteemed Krupanidhi Education Trust for the last three decades. A visionary and a successful educationist, Dr. Nagpal, who earned his Ph.D. in Pharmacy, has been responsible for revolutionizing the way education is imparted through the many colleges affiliated to the Krupanidhi Trust. He has been awarded the Academic Visionary Award for Excellence in Education Leadership and Innovation in the academicians’ category of the WCRC Leaders Asian Education Excellence Summit and Awards. Today, Dr. Nagpal is leaving no stone unturned in developing simplelecture.com into a world class website and in turn helping students across the country.