Artificial Intelligence (AI) spans every major industry and is likely to dramatically transform industries. With better algorithms and large amounts of data, AI has the potential to perhaps outperform human decision-making. Performance differentials between firms on account of their proficiency with AI will also likely intensify over the coming years and will shake up most industries. “AI is a gamechanger to drive new business models and transform today’s businesses and workplaces,” remarks Anant Maheshwari, president, Microsoft India.
Taking a cue, the Indian School of Business (ISB) and Microsoft India have inked a new partnership to take forward their shared vision for an AI-empowered India. Through the creation of the AI Digital Lab, the two organisations will collaborate in research which will use AI and Machine Learning (ML) to study issues that are relevant for business and public policy. In addition, the partnership will also introduce a new executive programme titled “Leading Business Transformation in the Age of AI” in October 2019 which will equip business leaders with tools and strategies to transform their respective organisations to AI-driven organisations.
According to a recent Microsoft and IDC Asia/Pacific study, ‘Future Ready Business: Assessing Asia Pacific’s Growth Potential Through AI, lack of a coherent AI-strategy is among the top three challenges that Indian business leaders face while trying to accelerate the growth of their respective businesses.
Rajendra Srivastava, Dean, Indian School of Business and the Novartis Professor of Marketing Strategy and Innovation, said “Business schools are attempting to redefine management education by making it more future-ready and relevant for opportunities and challenges that businesses will face in the future. Transforming organisations guided by AI and augmented by frameworks integrating analytics with human behaviour and management issues will be an important imperative for business leaders.”
Dedicated to research in social sciences that utilises the potential of AI, the virtual lab will enable ISB to explore new phenomena that is relevant for Business and Policy using the vast array of AI tools and infrastructure provided by Microsoft.
The lab powered by PlatiFi technologies (a Microsoft partner) will provide an opportunity for ISB to enhance its research eminence through unique insights that will be derived from the research conducted by the lab.