New MBA Focuses on the Uses of Artificial Intelligence in Business
Artificial intelligence (AI) and machine learning have already revolutionized how businesses approach developing short-term and long-range strategy.
With its ability to mimic what can be accomplished with the human brain – and at much faster speeds – AI is increasingly a focus for smart companies looking to get an edge in highly competitive industries. Most believe AI will have the same significance for the Fourth Industrial Revolution that mass production and automation had for the first.
Touro University Worldwide is now offering a new MBA concentration in AI . Graduates from the program not only have the highest level of business skills but also expertise on the possibilities of artificial intelligence and how to leverage it for more effective and efficient business outcomes.
Earning such a degree puts graduates at the forefront of modern business. AI has significant implications not only on an operational level, but also for managerial approaches and strategies.
A Crucial Component in Business
Experts in the business world have anticipated the arrival and impact of artificial intelligence for years. But, in truth, for many companies it’s already here.
AI already has started to transform business. Many Silicon Valley companies are completely based on what AI can do. It also powers recommendation software for companies such as Amazon, Netflix and Hulu.
But it will go beyond that, according to experts. The possibilities of AI are so enormous that many business executives now believe it’s “crucial for every MBA student to study this phenomenon,” according to U.S. News and World Report.
An MBA with a concentration in AI gives graduates a detailed understanding as to where business is going as the 21st century unfolds.
What Artificial Intelligence Can Do
Examples of AI are multiplying rapidly. Even those outside the business world know about AI from the examples above of Netflix and Amazon.
The revolution has moved beyond that and into almost every industry. The enormous task of data collection, analysis and interpretation is now more often handled by machines than humans. Once programmed for these task, AI can learn as it goes, eventually making recommendations that provide insight and even direction for a company’s strategy.
But automated machines that handle cognitive labors in data collection are just the tip of the AI iceberg. AI is present every day. For example, creating customer segmentation – an important part of modern marketing – now takes only hours rather than months of research.
Business managers also can use AI for:
- Online customer support
- Categorizing emails
- Sales forecasts
- Fraud protection (for online transactions in particular)
- Price optimization
- Social media sentiment analysis
Even sports teams, particularly in Major League Baseball, have turned to AI to collect, analyze and find trends in enormous amounts of data. It’s led to new strategies such as defensive player shifts and “ the opener ” pitching strategy used by the Tampa Bay Rays.
What You’ll Learn
An MBA that focuses on AI merges the world of business and technology. At TUW, the goal is to equip graduates with thorough knowledge on how technology can help achieve ambitious business goals.
Despite “Terminator”-type fears, AI is not going to replace human leaders in business or anywhere else. But MBA graduates will have an advantage if they understand how to present information gleaned from AI and how to create trust among investors and executives in AI-supported endeavors.
It’s also important for leaders to understand the concerns about privacy when it comes to AI, and the ethics and security issues involved with machine learning, particularly in the area of data collection.
The MBA with a concentration on AI from TUW covers all these issues. It also can be completed in just one year and offers the flexibility of being offered completely online. With the growing importance of AI, and the value and ease for professionals who want to earn their master’s degree, there’s never been a better time to develop business leadership skills and become experts in the use of technology in business.