"Why do you want to do an MBA" and you will get 100 different answers from different people but all of them will have one common string they want to build business either for themselves or for someone else.
In 2018 , Kellogs School of Management , conducted a similar survey , but they went a little beyond , by asking the students to what more they want out of an MBA . Majority of them said - Artificial Intelligence and Machine Learning and that was no surprise. Because now AI has become an important tool across industries and functions.
And if you still feel you are comfortable avoiding A.I , here a 3 simple use cases in brief which may make you believe that you should.
- Launching a New Product in the Market
Flipkart.com is using Natural Language processing and Machine learning to mine through millions of customer data points to figure out what should be the color, size, power and design of its products , one of there successful products was a rose gold colored , 15000 MAH , Power Bank.
- 24*7 HR helpdesk for employees
A.I powered HR Chatbots , have made it simple for employees to get instant answers to frequently asked questions , applying for leave , knowing the HR policies of the companies. Also these bots are trained for smart routing by understanding the query. It has helped organizations to increase productivity and increase employee retention. Also now A.I is being in recruitment functions.
- Instant Loan Disbursement to people with no credit scores.
A rough estimation , around 90% of the world population don't have a credit score , that does not mean these people are not worthy of getting loans. Financial Institutions are now using the power of A.I to calculate social loan quotient based on multiple parameters , even some are conducting a psychometric test to arrive at making a decision of disbursing the loan or not.
All of the above business use cases are problems which you would be solving at a managerial level across the industry and across functions. There are many more examples of how A.I is impacting business processes.
I would push you take an A.I elective in MBA if your college is offering one.
Feel free to write me on firstname.lastname@example.org and leave a comment below.