Ready for the AI-driven Future
A new MBA elective prepares students to apply AI in your organizations
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Artificial Intelligence (AI) is bringing new possibilities for businesses and changing the way that companies in every sector operate. Finance, manufacturing, engineering, and healthcare are just some of the industries that are affected by advances in AI.
Consequently, aspiring business leaders in every sector need to develop a clear understanding of the power and potential of AI systems so they can successfully deal with the issues and opportunities as they arise.
To prepare businesses for the revolution in AI, the HKUST Business School has teamed up with Microsoft to add a new elective to its highly regarded MBA Program. The course will give managers the skills, know-how and cultural sensitivity they need to make the best use of AI technology.
Collaborating with Microsoft
The new elective is built around online materials provided by Microsoft’s AI Business School. It includes four key modules which will be introduced at the start of the spring semester in 2020.
The modules focus on how businesses can define a suitable AI strategy, how they can enable an AI-ready corporate culture, and how they can use AI technology responsibly. The modules will also teach business leaders who have not been trained in IT how to understand the technology.
Course content is tailored to the needs of Hong Kong-based MBA students, and uses appropriate case studies and examples. The existing online materials will be combined with classroom teaching by HKUST faculty members and Microsoft executives, who will share the latest industry knowledge and practical insights about the changes and challenges AI technology brings.
There are plans to make the course available to MSc students and to extend it to various taught executive education programs. Business leaders from all types of local enterprises and organizations will soon be able to access the AI curriculum by signing up for HKUST’s open executive education.
Running alongside the business course, there will be an ongoing series of technology talks and practical guides designed to help organizations put themselves at the cutting edge of these latest developments.
“We are witnessing AI transforming the workplace, and there is a growing desire among MBA students to understand how AI will improve business decisions, processes, and productivity,” said Professor TAM Kar Yan, Dean of the HKUST Business School. “Working with Microsoft, a world leader in AI, will ensure that we unlock the full potential of MBA students as they harness the power of AI.”
Focus on advantages
The use of AI has increased concern among policymakers about the implications for employment and the world of work. The best approach is to focus on the upside, not the downside, of AI and automation. Businesses should start to adapt now, Tam said. “As we shift towards a landscape of digital automation, new jobs will be created for those who are prepared. We don’t know what kind of new jobs will be created [by the AI revolution] but we are sure that they will relate to how human beings work with AI tools.”
It is therefore essential to provide students with the skills and the mindset to work in an environment where these tools will be available to help individuals and businesses.
The HKUST MBA is already a place where “business meets technology”, Tam noted. The MBA features electives on fintech, data and the Internet of Things (IoT). The new AI option is an important addition to the MBA and is another way to promote interdisciplinary learning by means of cross-school collaboration, and collaborations between business and academia.
The new AI course content emphasizes the key principles which business leaders need to understand and apply. These include using the technology in a way that is fair to all, how to use it reliably, and how to address issues of safety, privacy and security, inclusiveness and accountability.
“AI is the defining technology, and main growth factor, in the Fourth Industrial Revolution,” said Cally CHAN, General Manager, Microsoft Hong Kong and Macau. “This requires a cultural shift, as it will change the relationship between humans and machines, as systems will evolve into intelligent collaborators. AI is now a critical foundation stone for Hong Kong businesses as they look to thrive in today’s digital era. That is why we are excited to partner with HKUST to give Hong Kong business executives the necessary skills to lead with confidence in the age of AI.”
