However, the World Economic Forum’s (WEF) Executive Opinion Survey—which captured insights from over 11,000 executives worldwide—found that 50% of business leaders view a lack of AI skills as the top barrier to AI adoption.
Leading business schools are taking note and adapting to this rapidly evolving business landscape. Earlier this year, Harvard Business School began requiring all MBA students to complete a course in AI and data science before graduation. Likewise, The Wharton School—ranked best in the world by the Financial Times—also recently launched a new AI MBA concentration.
Now, University of Chicago Booth School of Business—a member of the prestigious M7 business schools along with Wharton and Harvard—has also taken steps to address this skills shortage by introducing a new concentration in Applied Artificial Intelligence to its MBA curriculum.
Expanding Booth’s already robust concentration offering to a total of 16, the Applied Artificial Intelligence track is designed to prepare MBA students to excel in an increasingly AI-driven market—equipping them with the skills needed to effectively and responsibly lead in the age of AI. It also aims to prepare students for the leading challenges inherent in the adoption of AI within organizations.
“Through the new concentration, we will challenge students to think differently—not just about algorithms, but about how AI reshapes human capital, decision-making, and society itself. It’s here that cutting-edge computation meets deeply human insight,” said Sanjog Misra, Charles H. Kellstadt distinguished service professor of marketing and applied AI at Booth.
Students pursuing the new concentration will need to complete three relevant courses to fulfill the requirements. In addition to AI Essentials, Machine Learning in Finance, and Starting an AI Company, the course list also includes AI for Good and Generative Thinking.
Participants in the concentration will also gain access to resources offered by the Center for Applied Artificial Intelligence (CAAI)—the school’s hub for thought leadership in AI and machine learning. The center supports research from across Chicago Booth and the University of Chicago in seeking to make revolutionary advances in the application of AI.
“The Center for Applied AI cultivates a vibrant ecosystem where faculty, students, and alumni come together to explore the frontiers of artificial intelligence,” wrote Sanjog, who also serves as the center’s faculty director, in a recent blog post on the school's webpage.
