AI and ML-based disruptive practices are many, on the one hand, in the substitute of traditional companies, and on the other hand, in the form of new business opportunities. In short, AI is the broader concept that machines can do ‘intelligent’ tasks while Machine Learning prescribes the set of “intelligence” rules that the computer itself identifies.
The future scope and advantages of Artificial Intelligence motivate B-schools to take account of AI and ML as a part of the curriculum. Science fiction and sprinting are breaking out of artificial intelligence. A robot now identifies a person from a picture of his face, drives a poker player, and pilots an airplane in theory. Business applications for AI are increasing, and business schools want to make sure their graduates have the skills to meet the future needs of industry from Apple’s personal Siri assistant to Amazons delivery drones. There are a wide variety of masters programs and options available in established AI courses. Almost all business schools now offer business analytics specializations, while some offer specialization in AI ML.
We must admit to the fact that decision-making based on data inputs is not new in order to understand what AI and ML technologies bring to the table. The traditional B-schools courses relating to decision-making use both computer algorithms and statistical models for problem resolution. In a simple way, AI and ML have made it possible for both traditional and new ecosystem problems to be accessed, processed, and used efficiently for solving complex problems. This is where B-schools almost fit into the design.
The current future belongs to AI and ML, and this is no exaggeration. In the U.S., more than 10,000 jobs are estimated to be made available by leading employers throughout the country, and by 2024, the number of jobs in open data science is estimated at 2, 50,000. In other places-EU, Canada, and China, AI-related employment demand is not only high but is also a couple of steps higher than the average salary. In regard to AI hiring, India is not far behind other countries. Some estimates are expected to increase 60 percent by this year as automation continues to grow, and the corresponding technologies and their implementations will require 50 percent more digitally qualified employees.