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Brigitte Madrian - AI and Business Education
- 1. How Artificial Intelligence is Impacting Business Education Brigitte C. Madrian November 29, 2023
- 3. 100% The fraction of college students who report using ChatGPT
- 4. Perceived Changes in Skills Needed for Business Students More Needed Skills • Integrity • Strategic vision • Ability to inspire • Negotiation • Interpersonal skills • Oral communication Less Needed Skills • Specific language skills • Written communication • Quantitative analysis
- 5. Curriculum
- 6. Productivity Effects of AI in Professional Writing Control Group: No ChatGPT Treatment Group: ChatGPT Quality: 18% higher Time spent: 40% lower Job satisfaction: higher Lower ability workers benefit most Source: Noy and Zhang (2023), Science, DOI: 10.1126/science.adh2586
- 7. Management Communications Curriculum Changes Do Less • Rough drafting Do More • Idea generation • Editing • Oral presentation
- 8. AI and Creativity/Innovation 200 randomly selected product pitch ideas from MBA students 200 product pitch ideas generated by GPT-4 vs.
- 9. AI and Creativity/Innovation MBA Students GPT-4 Source: Terwiesch, C., & Ulrich, K. https://www.wsj.com/tech/ai/mba-students-vs-chatgpt-innovation-679edf3b Time Spent Days An hour Quality of Ideas Purchase intention 40% Purchase intention 49% Of the Top 40 Ideas 5 from MBAs 35 from ChatGPT
- 10. Entrepreneurship Curriculum Changes Do Less • Idea generating Do More • Idea evaluation/validation • Idea development
- 13. ChatBot Learning Support Human Teaching Assistants ChatBot Available 24/7 No waiting No stupid questions Answers agree with the textbook
- 14. Business Ethics and Ethical Use of AI • Properly crediting AI use • Privacy concerns • Individuals • Proprietary data • Plagiarism/Intellectual property issues
- 15. Other Curricular Opportunities • Personalized learning guidance and support • Experiential learning courses • Students help organizations assess how they can effectively use AI • Courses on functional use of AI (e.g., in marketing, in finance) • Executive education
- 17. Accounting: Students vs. AI Human Students GPT 3.5 vs.
- 18. Accounting Students vs. AI Human Students GPT 3.5 Student Performance Data • 28,000 questions • 186 institutions • 14 countries
- 19. Accounting Students vs. AI 76.7% 47.5% 56.5% 0% 20% 40% 60% 80% 100% Students GPT-3.5 GPT-3.5 (partial credit) • GPT performs better • True/False questions • Multiple choice questions • Questions in English • AIS and audit questions • GPT performs worse • Short-answer questions • Workout questions • Tax, financial, and managerial accounting questions Source: Wood et al. (2023) Issues in Accounting Education
- 20. How Well Does GPT Do on Standardized Tests? Source: https://openai.com/research/gpt-4
- 21. Can We Reliably Detect AI-generated Work at Scale? “In short, no. While some (including OpenAI) have released tools that purport to detect AI-generated content, none of these have proven to reliably distinguish between AI-generated and human- generated content.” Source: https://help.openai.com/en/articles/8313351-how-can-educators-respond-to-students-presenting-ai- generated-content-as-their-own — OpenAI
- 22. Changing Educational Assessment • Increase expectations • Exams • Oral exams • Administer in settings without access to technology (e.g., in class vs. take home) • Make less use of the types of questions GPT does well on • Switch to or put more weight on non-exam assessments • Presentations with Q&A to check understanding • Class participation • Shorter in-class quizzes without access to technology
- 23. Research
- 24. AI and Academic Research • Research on AI and business education • Research on AI and business practice • Use of AI in research more generally • Synthesize existing literature • Editing/formatting • Regulation of AI
Editor's Notes
- Dean of a business school Graduating roughly 1800 students each year We want them to be well equipped to add value to the organization that will hire
- Note: ChatGPTs ability to do math is significantly enhanced by the addition of the Code Interpreter features available through ChatGPT+ or ChatGPT Enterprise. See link below for recent study. https://arxiv.org/abs/2308.07921 Suggestion: If you have a ChatGPT+ account, do a quick demo with data analysis and some math with optimization. If interested I can set up an example.