siliconindia | | JUNE 20248IN MY OPINIONTHE FUTURE OF LEARNING: ROLE OF TECHNOLOGY IN MODERN BUSINESS EDUCATIONBy Arvind Sahay, Director, MDI GurgaonArvind joined MDI as Director and Professor of Marketing & International Business in October 2023. Prior to MDI, he served as faculty at the Indian Institute of Management Ahmedabad (from 2004) and at London Business School (from 1996) since his Ph.D. in 1996 from the University of Texas at Austin. His primary areas of interest include marketing strategy, pricing, neuroscience and consumer behavior, brand management, high-tech marketing, and international trade and investment.Technology impacting the traditional methods of teaching in business education.In the student engagement process: Tools such as simulations, labs (e.g., modeling labs) and asynchronous content will considerably influence the teaching and learning process. I believe that this kind of active learning approach promotes better understanding and retention of information. Talking about `modeling labs', these allow students to explore and manipulate models to simulate real-world scenarios, that actually helps them apply theoretical knowledge to practical situations, fostering deeper comprehension. A second area of technology that is important is IT related and has to do with the ability to access, evaluate, understand, synthesize and deploy information in business processes through technologies such as Gen AI, blockchain, multi-modal data analytics, IOT, etc. These would need to be built into the content. Similarly, tools that improve our ability to access, evaluate, understand, synthesize and deploy information about human behavior should also be deployed. Asynchronous content, such as pre-recorded lectures, enables students to access learning materials at their own pace and convenience, giving them a certain flexibility.In the student skill set requirement: Students will need to be tech-savvy at a higher level with every succeeding batch that graduates - a certain level of tech tools savviness will be a hygiene factor going forward. The most sought-after graduates will be those that combine tech savviness with human behavior skilfulness. For management students, this translates into familiarity with technologies and the ability to access, evaluate, understand, synthesize and deploy information related to business processes and human behavior. Effectiveness of technology-based tools in facilitating learning outcomes in business education.Technology based tools such as Gen AI and blockchain are already providing a measurable improvement in performance of business processes. However, their impact on learning outcomes is less clear at this stage, In a conversation with Charulatha, Correspondent, Siliconindia Magazine, Arvind discussed how technology transforms business education, enhances learning with tools, and fosters collaborative online environments.
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