AI, The New Student In Classroom

Himadri Das, director-general, International Management Institute (IMI), Delhi, teaches an advanced finance course in derivatives which includes modelling, as part of an MBA programme at the institute. He encourages students to use Generative AI (GenAI) tools to create Codes that can be used to analyse data.

“You show them how to use GenAI with the right prompts to generate the code, which they can incorporate into their projects. (This way) they can learn more than they could without those skills, since they don’t have to own the skills,” says Das.

As anxieties about AI taking over jobs abound, B-schools say students have to learn to work with such cutting-edge technologies and leverage them to make better business decisions. Das believes both teachers and students should use GenAI in the classroom. “GenAI is a productivity enhancement tool. Everybody should use it… because you don’t want to spend time doing things that an assistant can do for you… think of it as an expert assistant,” he says, adding, recruiters, too, are scouting talent with AI-related skills.

Since the launch of ChatGPT in 2022, GenAI has exploded, covering multiple aspects of business. It is anticipated to disrupt as well as revolutionise the way people work, learn and engage with technology. According to a report by EY, GenAI is transitioning from the initial hype to actual applications, and companies in India are launching proofs of concept (POCs) by deploying GenAI-powered apps. Around 84% in a survey of 50 CEOs conducted by the accounting firm across five industries reveals organisations need to act fast on GenAI to stay ahead of competition.

While most top B-schools have included AI courses/modules in their curriculum, educational institutions, too, are trying to incorporate platforms such as ChatGPT and large language models (LLMs) to make students industry-ready. The Wharton School of the University of Pennsylvania, for instance, says it will invest to scale its research and teaching capabilities in the areas of artificial intelligence and data science, and also provide ChatGPT Enterprise licence to students. “Business schools have a crucial role to play in understanding and advancing an AI-enabled world,” Erika James, dean of The Wharton School, said in a statement.

According to a study by TeamLease EdTech, 62% of educators across schools and higher education institutions in India are actively using GenAI tools for teaching and preparation.

Tech In Class, Curriculum

This year, IIM Mumbai launched a short-term online global certificate course — Generative AI for Business Decisions — in collaboration with David Simchi-Levi, professor of engineering systems and director, Massachusetts Institute of Technology (MIT) Data Science Lab. The Indian School of Business (ISB), Hyderabad, offers a ‘Leadership with AI’ course, which includes learning about GenAI and its applications. IIM Ahmedabad is using ChatGPT to generate assignments and assess students’ viewpoints in some of its courses. Meanwhile, IMI Delhi’s Das expects GenAI to be added to the B-school’s curriculum in the future. “The industry is already demanding it. A business school has to be aligned with what the industry wants,” he says.

IIM Kozhikode offers courses on AI and machine learning for business, and courses in marketing, including mobile and experiential marketing, oriented towards new-age technologies, says Rajesh Srinivas Upadhyayula, dean, programmes. The school, he adds, is adopting ChatGPT. “We are evaluating how we can use LLM in our day-to-day curriculum. Globally, there are institutions getting the (ChatGPT) licence. The faculty gets the licenced versions of ChatGPT and makes their own respective engines in their disciplines, and that’s one thing our faculty members are considering,” says Upadhyayula. Notably, India also saw a 1,648% increase in GenAI course enrolments during the year, according to Coursera’s Global Skills Report 2024.

“In the next three to five years we’ll see a dramatic change in the industry, as well as society itself. AI is going to be practically ubiquitous, and will shape everything that we know,” says Kuruvilla Pandikattu Joseph SJ, chair professor, JRD Tata Foundation for Business Ethics, XLRI-Xavier School of Management, Jamshedpur.

Even though it may not have been formally inducted into the curriculum everywhere, most B-schools agree GenAi is supplementing classroom teaching. According to Varun Nagaraj, dean and professor of information management and analytics, SP Jain Institute of Management & Research (SPJIMR), recruiters are currently not differentiating between candidates based on their knowledge of AI, but want students to have at least a basic understanding of the technology.

“Recruiters are assuming all our students are reasonably skilled in AI. There might come a point when they might prefer the information management specialisation, like a consulting company which would opt for a particular candidate because they might be more familiar with more cutting edge uses of AI,” he adds.

According to EY, as more educators and students use GenAI, tools such as ChatGPT and TutorAI are stimulating creativity and providing a fresh perspective, helping students learn how to ask questions better. With respect to teaching methodologies, IMI’s Das says GenAI is a horizontal tool that helps enhance learning outcomes from traditional techniques, including case studies.

IIM-K’s Upadhyayula says case studies help students understand the nuances of using AI better. “It helps students understand how companies’ activities have changed, how the supplier or partner ecosystem differs from the original brick and mortar system.” IIM-K uses simulations as pedagogical tools to help students learn aspects about AI, he adds.

While the debate on GenAI’s impact continues, B-schools see it as a tool that can augment learning. In terms of case studies, for instance, GenAI enhances learning by cutting down time spent on analysing data. “The case study might still be the anchor around which learning will happen. But the time you spent analysing a case earlier will get significantly reduced because of access to GenAI,” says Das.

Challenges Galore

B-schools are using AI-detection tools to ensure students don’t misuse the technology, and use GenAI only for tasks such as research, writing code or analysing data. Faculty is also becoming more innovative to stop students from misusing GenAI. For a group project that SPJIMR’s Nagaraj assigned to his class, he warned students against the use of AI for making reports, else they would have to take an oral examination instead of a written retest. It discouraged students from misusing the technology.

“You could get short-term benefits by getting a good grade, but you have short changed yourself because you have compromised your learning. Sooner or later you’re going to get caught and it’s going to affect your career progression,” says Das.

B-schools are working on policies to regulate the use of GenAI, but most believe it is too early to understand the impact. Most often, it is left to the faculty’s discretion depending on the kind of courses and the ways in which GenAI can assist teaching and learning. “We were considering having a policy but it has still not taken off. We want some experimentation to be done by faculty members before we devise policies to regulate the use of GenAI,” says IIM-K’s Upadhyayula.

Teaching students to use AI and regulate its usage also means faculty members have to continuously update themselves about the technology. “The best way to learn, especially for GenAI, is to get hands on. You start using any one GenAI tool, pick your favourite, and start using it on a daily basis,” says Das.