AI has more pros than cons for business schools, says new AACSB Report

A new report from AACSB International reveals there are more advantages to using AI in business schools than disadvantages. 

The report, titled “Building Future-Ready Business Schools with Generative AI” outlines the strategic paths that schools can take in their adoption of new Generative-AI tools. It identifies six key advantages for schools: 

1. Elevated productivity– some tasks can now be automated, making certain processes quicker. 
2. New jobs– as new areas of work develop and expand, new jobs will be created.
3. Personalised learning– students will benefit from educational experiences that are tailored to their specific needs.
4. Cross-disciplinary integration– business education can more easily integrate with other disciplines for a more holistic learning experience.
5. Enhanced creativity and innovation– access to new tools will promote innovation and help to engage in creative problem-solving. 
6. Democratisation of education and inclusion– high-quality, personalised learning experiences will become accessible to a broader audience.

The report also identifies five challenges for schools and staff: 

1. Redundancy– certain jobs could be replaced with automation.
2. Skill loss– critical and innovative thinking could decrease.
3. Inequity and bias– existing biases in admissions and student evaluation will be harder to prevent. 
4. Academic integrity challenges– the ease of generating content could lead to increased instances of plagiarism, possibly diminishing the value of original thought. 
5. Devaluation of human-centric skills- skills such as empathy, leadership, and negotiation may initially be prioritised less over technical competency. 

The report provides a deeper understanding into the realities of integrating generative AI.