Artificial Intelligence and Machine Learning are significant terminologies and both are changing the way we live and work in this modern world. Artificial Intelligence is the wider concept it helps to carry out the tasks in a smart way while Machine Learning allows the set of such smart rules that the computer itself find out. As businesses are also leveraging the latest technologies same B-Schools are focusing on these technologies and teaching their students about these technologies.
India too is not late in comparison to other countries that are already using AI technology. Some estimates expect a 60 per cent rise by this year due to increasing adoption of automation, and the related IT industry will require 50 per cent more workforces equipped with digital skills.
Focus to provide future AI teams:
The demand of AI and ML professionals is high in the industries and educational institutes are the only one who can train the students and fulfill this gap. Almost every big and top business schools in India are proposing specializations in Business Analytics while some of them are offering specialization in Artificial Intelligence and Machine Learning.
High Demand for Artificial Intelligence Jobs:
In the coming year the demand for Artificial Intelligence and Machine Learning skills and jobs will increase and the future belongs to these two technologies AI and ML. It is estimated that in USA, there are more than 10,000 positions available at top employers across the country and additionally, the country is estimated to have 2, 50,000 open data science jobs by 2024.
Benefits from Artificial Intelligence and Machine Learning:
To understand what AI and ML bring, we must acknowledge that decision-making based on data inputs isn't new. Indeed, the traditional courses offered in B-schools related to decision sciences used computational algorithms as well as statistical models to solve problems.
Artificial Intelligence and Machine Learning allows solving the problem:
With the help of AI and ML we can use data in very efficient way to solve the difficult problems. This is where B-schools fit in, almost by design. B-school curriculums have always pride themselves for creating efficient decision makers. Managers are anticipated to decide and then execute their decisions. Often, such decisions must be made based on limited data and experience and yet must be made quickly.
Hence, MBA students should know the business value and by connecting all these technologies and concepts they can figure out the different business models and improve customer engagement.