This document discusses how artificial intelligence is impacting business education. It finds that 100% of college students now report using ChatGPT, and perceptions of needed skills have shifted to prioritize soft skills like integrity, strategic vision and inspiration over specific technical skills. AI tools like ChatGPT have increased productivity in professional writing by 18% while reducing time spent by 40%. Curriculums are adjusting to make less use of tasks AI can do like drafting, and more use of skills like editing, presentation and evaluation. While AI systems like GPT-4 can generate innovative ideas, human students still outperform on quality. Assessments also need to change as AI systems can now answer over 50% of accounting questions correctly. Detection
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
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
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
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
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
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.
