15 de fev de 2022

Business education trends in 2023 and beyond: artificial intelligence

TREINAMENTO 4 minutos de leitura

Nowadays, all eyes are on AI. Artificial intelligence will change business education and make it more efficient, impactful and tailored to individual needs.

Business education is not business as usual anymore. The external factors influencing it have multiplied in the past years and will lead to its complete transformation. To help you navigate this fast-changing landscape we published a trend report with the must-know trends.

We predict ten trends, split into three categories:

  • societal trends that will challenge the purpose of business education
  • industry trends that will change the way it is taught
  • tech trends, like artificial intelligence, that will open new avenues and make the transformation of business education possible. 

Enjoy a sneak peek into our 38-page Business education trend report then download it in full.

Artificial Intelligence (AI) is the ability of a machine to display human-like capabilities such as reasoning, learning, planning and creativity.

It´s already used in teaching and training and examples include software for translation, online assessments, plagiarism checks, text correction tools, voice-recording transcripts, etc. But its potential is vast.

In 2023 and in the years to come, all eyes will be on AI and it´s not a surprise considering its benefits to business education.

The global market for AI in education will reach $25.7 billion in 2030, up from just $1.1 billion in 2019.

The AI in Education Market Research Report, 2020

What are some of the use cases for AI?

1. Hassle-free administration

AI will automate tedious, time-consuming tasks and simplify complex processes such as sign-up, registration, admission processes, even assignment grading. It will allow more time for highly cognitive task and support data-driven, strategic decision making.

2. Stellar customer service

Five-star customer services can be ensured by AI at all stages in the journey of any learner; from the moment they enter the website of the institution or organization to the moment they finish the program and beyond.

Examples include chatbots that can answer questions related to programs and application procedures or digital assistants that can support instructors in the classroom, automating tasks or displaying learner engagement levels in real-time.

3. Tailored learning

According to an individual's results and progress, AI will enable personalized learning paths. There will be no more one-size-fits-all way. AI will reveal areas of improvement or excellence and devise unique learning paths, suggesting courses and programs. It will identify disengaged learners, keep them motivated, decrease drop-out rates and enhance outcomes.

4 key considerations when adopting AI

1. Have a strong use case

Develop a use case with defined objectives for the AI you need. Base your use case on solid business understanding and make sure there is a clear collaboration between all concerned departments that will implement and work with it.

Spend more time to really work with the business. Understand what are the latest challenges, what are the opportunities, and then based on that try to match the needs with suitable technology.

Choo Tatt Saw

CIO at INSEAD

 

2. Lead effective change management efforts

AI adoption can be daunting. Depending on the magnitude of the changes, employees might be reluctant, and some might even fear for their jobs. Make sure to communicate that the role of AI will be to support workers, remove or ease dull, repetitive tasks and leave time for high cognitive ones. Provide training and support throughout the entire adoption process.
 

3. Choose strategic partners

Make sure you choose a strategic partner to implement the desired solution. The right partner will let you test it, listen to your challenges and demands, and have a reliable team that will be supportive and open to offer a tailored approach.

 
4. Be mindful of the data you collect

Large and accurate amounts of data is a prerequisite for AI but so is its safety and user privacy. Ensure complete transparency regarding any legal or ethical concerns that might arise. Make sure to clarify the extent to which data is captured, how it is processed, stored, and secured. Respect regulations like GDPR and ensure your partners minimize any potential bias in AI decision-making.

Artificial intelligence is just one of the ten trends that will impact the future of business education. Discover what lies ahead in the future! Read all the trends to ensure a thriving future for your institution in our report.