As AI continues to reshape industries, future business leaders must understand this technology's ethical implications and potential. The Knauss School of Business is at the forefront of this transformation, instilling values and equipping students with the skills to harness AI-driven insights for enhanced decision-making and strategy development.
The rise of AI has been in development for decades. However, the recent explosion in accessibility has brought it into every classroom, leaving instructors and students alike to assess the role of AI in business education settings.
Instructors in every field are quickly learning the benefits of AI in improving learning outcomes. AI helps teachers stay on top of grading and format their feedback accurately and perceptively while maintaining a personalized approach. Where human attention to detail often fails, AI can pick up the slack and provide individualized learning strategies.
AI also allows students to understand complex business processes from a different point of view. Through algorithms that rephrase or simplify complicated subjects, students can more easily grasp the concept and receive specific instruction that benefits their education.
At USD’s Knauss School of Business, we are dedicated to integrating AI concepts and applications throughout the business curriculum. Students receive practical hands-on experience with AI tools and platforms throughout their educational journey so they have an arsenal of ethical AI strategies and practices under their belt.
Recent examples of AI integration from the Knauss School of Business highlight its diverse applications. In a Digital Marketing course, teams create a digital campaign, which includes an AI component. AI is also used to clean data, pull outlines and run descriptive analytics within a Marketing Analytics course. In a course centered on Big Data analytics, utilizing AI to debug code is taught, which is crucial for troubleshooting and refinement. Additionally, there is a specially designed course that analyzes the monumental impact of AI in business and strategy. Each instance fosters and encourages critical thinking and promotes ethical reasoning in the deployment of AI technologies.
These initiatives not only prepare students for the technological challenges they will face in their careers but also ensure they understand the broader implications of AI in society. By emphasizing the ethical dimensions of AI, the Knauss School of Business is equipping future leaders with the skills and awareness necessary to navigate the evolving landscape of digital technology responsibly.
In business, leveraging AI for strategy and data analysis has been recognized as a beneficial tool for some time. As AI becomes more commonly accessible, businesses large and small reach for artificial intelligence solutions and face the challenge of using AI ethically in business operations and decision-making processes.
Because it pulls from a variety of sources to generate answers, AI often creates biased results that may be unreliable. One simple consideration for ethical AI use is addressing potential biases and ensuring transparency in AI algorithms before applying them as a solution.
Responsible AI implementation balances innovation and ethical principles to look toward the future of business without compromising today. While AI promises efficiency and accuracy for many areas of business, it’s vital to maintain ethical standards for use. At USD, we teach AI literacy alongside our goal of using business for good.
One of the clearest uses for AI applications in business is strategy development and data analysis. AI can be leveraged for data-driven insights and predictive analytics to increase efficiency and create reliable reports for business strategy. It’s also helpful in identifying market trends and consumer behavior patterns, allowing for better marketing and strategizing for a consumer base.
By utilizing AI for brainstorming, strategists can also develop innovative business models and disruptive strategies. In the years to come, AI will be an integral part of business processes from development to implementation.
As AI continues to reshape the business landscape, the Knauss School of Business is committed to equipping future leaders with the knowledge and skills to navigate this technological revolution responsibly and effectively. By instilling ethical values and fostering AI literacy, the school empowers students to harness the power of AI-driven insights, enhancing their decision-making capabilities and developing cutting-edge business strategies that provide a competitive edge in the real world.