Dr. Jones Mathew Discusses How AI Is Revolutionising Education

Founded in 2004, Great Lakes Institute of Management is a business school in India with campuses in Chennai and Gurgaon. Known for its innovative curriculum and strong industry connections, Great Lakes offers a range of management programmes, including one-year PGPM. Sapience 2024, themed ‘AI for All’, aims to bring together industry leaders to explore the multifaceted impact of AI across business functions. The event will feature distinguished industry leaders who will explore the exceptional benefits as well as likely pitfalls of leveraging AI in businesses. In this interview, we will discuss how AI is transforming educational strategies by equipping students for future careers and highlighting the essential role of institutions in incorporating technology into the learning process.

SAPIENCE 2024’s theme, "AI for All," explores the impact of artificial intelligence on business strategies. How do you see AI influencing the future of marketing, given your expertise in the field?

AI is indeed a transformative force in marketing and its influence will continue to grow. While AI has been around for some time, its recent surge in attention and capability is reshaping how we approach marketing strategies. Historically, science fiction, like Isaac Asimov's work, envisioned AI's potential, but now we're seeing its real-world applications.

In marketing, AI addresses both routine and creative aspects. For routine tasks—like collecting data, conducting surveys and designing campaigns—AI can automate repetitive work, allowing marketers to focus on more strategic and visionary activities. This shift from mundane tasks to higher-value work enhances efficiency and creativity.
AI's impact on creativity is also significant. For several years, AI has been capable of generating innovative and compelling creative content. An example from Japan demonstrates how AI collaborated with human creative directors to produce a campaign where the AI-generated work was indistinguishable from human-created content. 
It's crucial to view AI not as a competitor to human creativity but as a complementary tool. Organisations that recognise AI as an ally rather than a threat will benefit most. Historically, new technologies often provoke fear, but they eventually become integral to progress. Embracing AI as an opportunity rather than a challenge will help companies stay ahead.

Just as we adapted to the computer and internet revolutions, AI is now a permanent fixture. It will continue to evolve and become more efficient, presenting both exciting possibilities and challenges that we must navigate.

What role do you think educational institutions should play in preparing students to effectively utilise AI technologies in their careers?

Educational institutions at the postgraduate level are likely the final frontier before students enter the corporate world. Traditionally, we haven't been very open to experimentation because we've never been taught to explore or be curious. AI, much like the smartphone revolutionised photography, now allows even those with limited skills to produce high-quality content. As AI becomes more accessible, the challenge for educational institutions is to help students stand out.

In the near future, most students will have a basic understanding of AI, making it crucial for institutions to guide them in leveraging a combination of AI, digital intelligence and human intelligence. At our institution, we've introduced workshops on prompt engineering essentially teaching students how to provide effective instructions to AI to achieve optimal results. This initiative aims to elevate students from achieving basic outcomes to reaching excellence, closely aligning with human-level outputs.

Great Lakes has been a pioneer in integrating AI into business education. We introduced AI courses in B-schools long before engineering schools did and we were early adopters of analytics specialisation, including artificial intelligence, machine learning, natural language processing and deep learning. Our focus has always been on not just using AI tools but understanding the underlying thought processes. We select faculty based on their ability to apply AI tools effectively and teach the rationale behind their use.

As AI becomes a requisite skill for managers, educational institutions must adapt to stay relevant. If students lack these skills, they may face challenges in the job market. Therefore, embracing AI and integrating it into curricula is essential for preparing students for future success.

With AI transforming traditional business models, what are some of the biggest challenges that organisations might face during this transition and how can they be addressed?

Business models are poised for significant changes, particularly with regard to manpower reduction. For instance, years ago, India's IT industry thrived as companies in more developed markets outsourced work to India. Today, Indian firms are now outsourcing repetitive, executive-level tasks to AI. This shift will undoubtedly enhance the profit margins by reducing human labour costs.

Another major transformation is the redefinition of HR. As organisations increasingly rely on systems rather than people, HR departments will need to adapt to managing these technologies. Similarly, marketing strategies will evolve. Marketers will engage less with individuals and more with AI assistants like Google Assistant and Alexa. These AI systems will play a critical role in determining which products consumers see, necessitating a shift in marketing tactics to effectively communicate with these digital gatekeepers.

AI's impact extends to finance and operations as well. Automation will streamline many processes, improving efficiency and altering hiring practices. HR processes have already begun to shift from human-driven to automated systems. For instance, we are now teaching students how to design CVs to pass AI-driven recruitment systems, rather than relying on human reviewers.

While these changes are beneficial for companies, they present challenges from a social perspective. There is a risk of skill mismatches, as many graduates may lack the necessary AI-related skills. This could lead to short-term disruptions in the job market and a temporary imbalance between available jobs and required skills. However, over time, I believe the system will stabilise and adapt, smoothing out these initial disruptions.

Reflecting on your 18 years of industry experience and 13 years in academia, what are the most significant changes you’ve observed in the field of education and business over the years?

Let me start with the business perspective, which is where I have the most experience. Businesses today have significantly less time to turn around profits compared to the past. Competition is fiercer than ever, regardless of the industry. Previously, being a large, international multinational company provided a substantial advantage, but that’s no longer the case. Smaller organisations are now constantly challenging these big players. The democratisation of technology and the availability of mentorship have empowered these smaller entities to compete effectively.

In recent years, we've seen a shift towards a startup culture where entrepreneurship is highly valued. People are increasingly focused on creating jobs rather than just seeking them. This shift has led to businesses operating in a state of heightened urgency. Global challenges such as the COVID-19 pandemic, the Russia-Ukraine war and ongoing conflicts like the one between Israel and Hamas have disrupted supply chains and made survival more difficult. As a result, many businesses are in a panic mode, often resorting to layoffs as a first measure to cut costs.

Another significant change is in hiring practices. Efficiency is driving a shift from human-driven recruitment processes to automated systems. We're even training students to design resumes that can get noticed by AI-driven systems rather than individual recruiters. While this shift is beneficial for companies, it poses challenges from a social perspective. There is a growing mismatch between available jobs and the skills of job seekers. Many graduates and postgraduates were already struggling with employability and the rise of AI and technology skills gaps may exacerbate this issue.

In the short term, we might see some disruption and imbalance in the job market. However, over the medium to long term, I believe things will stabilise. After this period of adjustment, the system will likely return to a new equilibrium.

Your personal philosophy of education emphasises the ‘soul factor’ and ensuring that no one is left behind. How do you incorporate these principles into your role as Principal and Head of Institution?

I've always firmly believed that while IQ is valuable, it's not the only measure of capability. Emotional intelligence, societal concern and a commitment to sustainability and team well-being are incredibly important. In leadership and business management, technical knowledge is useful to a point, but beyond that, it's about people management. This involves emotional and social skills, what I call the "soul factor."

The soul factor represents adherence to a set of values that every organisation proclaims, yet often struggles to embody consistently. As a leader, I believe it's crucial for everyone in the organisation, from the pantry staff to the programme directors, to understand and embrace this soul factor. It's about understanding our purpose and striving to maximise our potential, not just as effective managers and leaders but also as responsible citizens. Even if we don't always have the top talent, our goal should be to polish and develop everyone to their fullest potential.

How does the Union budget 2024-25 propose to address the gaps in the current education system and improve access to quality education across different regions?

Budget 2024 has been a damper for the education sector in general and higher education in particular. UGC has been hit with a major slash of 61 per cent in its funding significantly affecting access to public education at the higher education level. This move is difficult to comprehend. Education is the foundation and lifeblood of a nation aspiring to be a powerhouse. It is not a good sign that the education sector has been given less priority in this year's resource allocation. It will result in the divide between those who can afford higher fees and those who can't to widen further. From a strategic perspective, this does not augur well. 

Mayank Badhwar

BW Reporters The reporter works as Senior Correspondent with BW Businessworld