AMBA & BGA DEANS & DIRECTORS GLOBAL CONFERENCE
Gen Zers want flexibility from their business school with real-world applications that translate to tangible skills and personal growth through networking and different perspectives. They are also laser-focused on ROI, which to them equates to multiple dimensions of success, not just money. In addition, they are attracted to authenticity and transparency; they want personalised advice from multiple, different sources along their learning journey. The Gmac speakers’ data also showed that since 2019 interest in hybrid programme delivery has grown in every region except Central and South Asia, with the greatest interest now in Africa and North America. Globally, interest in hybrid learning grew from 12 per cent in 2019 to 17 per cent in 2023, with most of these students expressing a desire to spend at least half the time in the classroom. However, they added a note of caution: nearly half of candidates who want to study for their degrees online still do not believe it will be as valuable as an in-person experience.
Another interesting aspect of the survey revolved around prospective students’ expectations of AI; two-fifths now demand it in their curriculum, a year-on-year growth of 38 per cent. Regionally, the Middle East, Latin America and Asia have displayed the greatest interest, with double digit, statistically significant growth in the US as well. Preparing students for disruptive technology Host school at this year’s global conference Corvinus University of Budapest provided the event’s closing keynote presentation, courtesy of vice-president for international relations Péter Fehér. Fehér said schools must ensure students are ready for the ways in which continuing technological disruption will affect the future of business and their own careers. “We are preparing people to lead and this requires an understanding of the real nature of disruptive technologies and how they are changing the way we do things,” he remarked. Fehér offered historical examples of how various technologies evolved from early and seemingly inglorious prototypes to yield a sustained impact on global business. He then reminded his audience of the technology sector’s current pace of change. “So many technologies are now reaching an exponential growth rate,” he remarked, drawing on data to demonstrate the need for MBAs to understand how this affects adoption rates and product lifecycles. “If leaders only react when they see that there is a new product, they are already late,” he said, before adding, “if we understand the challenge, it means that we can do something about it.” One challenge facing many is trust and Fehér shared the story of chess grandmaster Garry Kasparov to illustrate how an understanding of technology breeds not only acceptance, but also appreciation for its potential. When he famously lost a match against IBM’s Big Blue, Kasparov accused IBM of cheating. However, once “he started to understand how the computer worked, he started to love it and even created a competition using computer and human pairs,” noted Fehér. The Corvinus vice-president concluded by saying that while employers don’t expect MBAs to create machine-learning systems, “they need to understand how these systems work and what their potential business benefits could be.”
BREAKOUT SESSIONS
Guests enjoyed equestrian expertise at Lázár Park and a mouthwatering menu at the Museum of Fine Arts
Ready’s Andrew Taylor looked at engagement in the digital era
Ready Education In a breakout session on student outcomes, Ready Education vice-president Andrew Taylor outlined the challenge of maintaining engagement in the digital era. “We’re seeing the impact of a student’s digital experience and 35 per cent of students just don’t feel a sense of belonging anymore,” he said, citing the company’s own market data. Taylor’s colleague and sales account executive Nathalie Madsen then described how a one-stop digital platform for all aspects of student life can help redress the situation. “A central hub creates a personalised student experience and makes it easy to access anything to do with events, clubs and student organisations, as well as important dates, information and any survey feedback they want to give their institution.”
Péter Fehér explored the impact of disruptive technology
Ambition | JULY/AUGUST 2024 | 25
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