CIOInsider India Magazine

As the standard of management education in India differs across various institutions, it is necessary to foster a business-like atmosphere in the classroom. Besides, it is essential to acquire simulation software, utilize Artificial Intelligence (AI) for independent learning, and provide training for faculty members on effective case teaching methods. Investment in these areas is crucial as AI, and more specifically, Generative AI, is transforming the global landscape. From learners developing sophisticated technical abilities to educators preparing the innovators of the future to researchers chasing ground-breaking scientific advancements, AI is rapidly gaining traction on college campuses and is being utilized in innovative and evolving ways.

IIMs on Revising Curriculum
It is no surprise that academic institutions, particularly business schools, are beginning to realize that the AI revolution will alter everything from the methods of instruction to the preparations that students must undertake for a future where AI will influence corporate strategies and operational environments. As a result, many business schools are reassessing their curricula to determine how best to equip their students for this new era where disruption becomes standard. India, a country known for embracing cutting-edge technologies, has the potential to leverage the AI wave, with entrepreneurs utilizing AI to generate significant employment opportunities in a landscape where proficiency in emerging technologies will be highly valued.

The country’s top business schools, Indian Institutes of Management, are revising their curricula more often than the earlier frequency of once every three-to-five years to align with changing corporate needs, triggered by technology and business disruptions. AI and GenAI are becoming part of almost all the course offerings at the IIMs like Ahmedabad, Bangalore, Indore, Sambalpur and Raipur. So is sustainability or ESG (environment, social and governance). Some are introducing new courses, like IIM Bangalore’s recently launched ‘Token Economy’.

Academic Directors Opinion
“Token Economy is a newly designed cutting-edge course through which students will learn to navigate digital platforms, create and launch tokens, and explore emerging models like non-fungible tokens and the Metaverse,” says Mukta Kulkarni, dean of academic programs at IIM Bangalore.

Through no-code tools and experiential learning, the course bridges theory and real-world application, preparing students to lead in a decentralized, digital-first economy. IIM Bangalore has also recently added ESG as a core subject in the full-time two-year MBA (PGP). The first edition will start in June 2025, according to Kulkarni.

Diptesh Ghosh, dean (programs) at IIM Ahmedabad says “actively evolving our curriculum to keep pace with advancements in technologies like AI.”

Recent additions at IIM Ahmedabad include topics such as generative AI, ethical considerations in AI deployment, the risks associated with widespread AI adoption, and deep-tech business models.

“All courses are reviewed with a primary aim to keep them relevant to the modern corporate world,” Ghosh said.

IIM Ahmedabad is currently setting up a new campus in Dubai, where it plans to start a one-year full-time MBA program. The changes are driven by corporate demand for graduates who are agile, tech-savvy, and strategic in their thinking.

Ram Kumar Kakani, director of IIM Raipur says, “The landscape of management is changing rapidly with the integration of technology, sustainability, and globalization. IIM Raipur has recently introduced courses like crisis management, GenAI and business analytics; capstone business simulation; and marketing, music and storytelling, among others.”

“The institute is introducing more specialized courses that explore AI applications in decision-making, operations, marketing, and HR. These additions will help students develop a hands-on understanding of how data, algorithms, and automation are influencing the future of business strategy and execution,” adds Ram Kumar.

AI, Data analytics, and Digital Transformation
IIM Indore recently introduced courses in AI, data analytics, and digital transformation, focusing on their application in business decision-making.

Himanshu Rai, director of IIM Indore says, “We are focusing more on experiential learning by incorporating live projects, simulations, and partnerships with industry. We are also planning to introduce modern electives in fields such as sustainability, fintech, and innovation management.”

“IIM Indore is also planning to introduce AI tools like TensorFlow, scikit-learn, and cloud-based platforms, along with covering topics on ethics and governance in AI,” adds Himanshu.

Mahadeo Jaiswal , Director, IIM Sambalpur says, “ IIM Sambalpur is focusing on greater integration of AI into its teaching and evaluation methodologies, case studies on AI platforms, sustainability and entrepreneurship among others.”

“Our upcoming programs will be distinct and aim to address a crucial need for cultivating graduates with the skills necessary for creating a contemporary India. Technologies such as AI, automation, machine learning, and data analytics have become indispensable; they are vital tools for today's leaders. IIM Sambalpur has also implemented AI-driven case discussions on its campus,” adds Mahadeo Jaiswal.

Also Read: This Year's World Backup Day Made a Call for Action on Data Resilience

Utilizing GenAI effectively can improve students' comprehension and learning experiences. Nevertheless, numerous advanced LLMs and GenAI tools function on a subscription basis, which introduces a financial cost for their use. Access to the internet is already unevenly provided. Considering the ethical implications of using GenAI in education, it is essential to have frameworks that focus on fairness, transparency, and accountability. Such frameworks support the creation and adoption of GenAI systems that are impartial and ethically sound, ensuring that their integration into educational practices upholds equity and integrity while not reinforcing pre-existing disparities.