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Jagpreet
27 July, 2024
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The way businesses operate is constantly evolving, and the skills employers seek in graduates are no exception.A recent GMAC (Graduate Management Admission Council)survey showed that nearly 1,000 corporate recruiters and staffing firms around the world to gauge their thoughts on the value of AI (Artificial Intelligence) for graduates of MBA and business master’s programmes. The results reveal some more interesting insights here such as particularly how employer perspectives differ on AI’s current and future importance.
Let’s check the key takeaways for business graduates.
In this survey,it was found that currently, only 26% of recruiters consider AI skills to be a crucial factor when hiring GME graduates. For employers who do value AI skills, the survey highlights a key preference. They don’t necessarily want graduates who can simply operate AI tools. Instead, they seek graduates who can view AI as a strategic partner. This means understanding how AI can be leveraged to analyse data, make predictions, and automate tasks, but with a focus on applying these insights to develop better strategies and improve decision-making.
For instance, an MBA graduate with AI skills could help a marketing team use AI to analyse customer data and identify buying trends. This data could then be used to develop targeted marketing campaigns that are more likely to resonate with the target audience.
Also Read: Top 10 AI Productivity Tools: Enhance Your Workflow
While AI skills might not be a top priority right now, the future looks much different.The GMAC survey reveals that globally, employers rank AI as the fourth fastest-growing skill they expect to see in graduates over the next five years. This comes in behind the ever-important skills of strategic thinking, problem-solving, and technology/IT skills.
This shift in importance makes perfect sense. As AI continues to develop and become more integrated into businesses, companies will need graduates who can bridge the gap between human expertise and AI capabilities. These graduates will be essential for ensuring AI is used effectively and ethically to drive business growth.
The GMAC survey findings offer valuable guidance for current and aspiring business graduates. Here are some key takeaways:
Sharpen Your Core Skills: The foundational business skills like strategic thinking, problem-solving, and communication remain highly sought-after by employers. Do not neglect these areas in your pursuit of AI expertise.
Embrace Technology: Familiarity with technology is no longer a bonus; it’s essential. Take courses or workshops to develop a strong understanding of how technology is used in business, including AI.
Focus on Strategic Application: Don’t just learn how to use AI tools. Focus on understanding how AI can be used to solve real-world business problems and develop effective strategies.
Related: The Role of AI in Transforming Business
| Key Area | Details |
| Current AI Trend | Only 26% of recruiters consider AI skills crucial for hiring GME graduates. |
| Employer Preferences | Employers seek graduates who can view AI as a strategic partner, not just operate AI tools. |
| Future Importance | AI is ranked as the fourth fastest-growing skill expected in graduates over the next five years. |
| Top Skills | Strategic thinking, problem-solving, and technology/IT skills are more important currently. |
| Implications for Graduates | Sharpen core skills like strategic thinking, problem-solving, and communication || Embrace technology, including AI, through courses and workshops. || Focus on applying AI to solve real-world business problems and develop strategies. |
AI systems can reinforce biases, it can make decisions that are hard to explain or do not have the right logic. These issues raise concerns about trust and accountability in AI.
Companies must navigate these dilemmas by ensuring their AI systems are developed and used ethically, which includes reducing bias, protecting user data, and clearly explaining how AI decisions are made. Balancing innovation with ethical considerations is crucial to gaining public trust and maximising AI’s benefits while minimising its risks.
What do we learn from this report? We can learn that there is a future where AI competency will be crucial for integrating human expertise with technological capabilities in the business realm. Graduates need to go beyond just understanding AI tools; they must strategically leverage AI to drive innovation and decision-making. By combining AI knowledge with core business skills, future professionals can enhance their employability and contribute more effectively to their organisations.
The world of business is undergoing a significant transformation driven by AI. While AI skills might not be the top requirement today for business graduates, the future is clear: AI is here to stay, and its importance will only continue to grow. By equipping yourself with the right skills and knowledge, you can position yourself for success in this evolving landscape.
By taking a proactive approach and developing your AI understanding alongside your core business acumen, you’ll be well on your way to becoming a highly sought-after graduate with the skills to thrive in the AI-powered business world.
