The Impact of the Potential of Artificial Intelligence in the Field of Management Education

Abstract

The paper aims to showcase the technological advancements in artificial intelligence(AI) and highlight its significance in the realms of management. Additionally, the research addresses the anticipated requirements of management education in the future.

In the paper, various definitions of artificial intelligence have been examined, including those provided by high-ranking expert groups such as the Organization for Economic Cooperation and Development (OECD), the Council of Europe, and the European Commission. Additionally, we have formulated our own definition.

We define artificial intelligence as systems capable of exploring external data to achieve specific goals. These systems have the capacity to learn and autonomously perform tasks, reaching near-superhuman performance across a broad spectrum of activities. In this research, focusing on areas such as fraud detection allows to consider both the risks and opportunities associated with AI.
Artificial intelligence holds immense potential to reshape the economy, foster the emergence of new industries and business models, enhance productivity, and elevate the overall standard of living. By automating routine tasks, it liberates time, allowing individuals to concentrate on more creative endeavors.

As the significance of addressing these emerging challenges grows, business education must play an increasingly vital role in preparing students. Consequently, management programs should concentrate on enhancing students' understanding of the tools and techniques prevalent in the modern business environment. The ultimate objective is to cultivate leadership skills, empowering students to employ these tools and techniques for critical analysis of business challenges and opportunities. This, in turn, equips them to make compelling recommendations and decisions, ultimately enhancing organizational performance.

Keywords: Artificial Intellect, Business Education, Hypercompetitive Environment