Interview/ Prof Bharat Bhasker, director, IIM Ahmedabad
Q/ What is the next big change after AI and ML?
It is clear that AI/ML is bound to have a significant impact on our lives and on organisations. The conversations are around what would be the new ways of doing business. There are a variety of questions being discussed: how would work change, how would people change, how would governance change, how would structures of the organisations change, how would interactions between human-human and human-machine change, to name a few.
Q/ Can you also elaborate on the short-, medium- and long-term expectations on industrial trends and how industry is changing?
In the short term, there is the use of generative AI tools expanding across marketing, customer service, content creation and analytics. Organisations are experimenting with AI to improve productivity and customer interaction.
In the medium term, organisations would explore continuous engagement with the customers and continuous value addition. Internet and digital technologies are prime enablers. Automation in inventory management, logistics, HR and other functions, and even in tactical decision-making is round the corner.
In the long term, there is a lot of uncertainty about the new equilibrium that will get established given the global dynamics, changing technology, workforce demands and consumer expectations. Therefore, many companies are cautious but at the same time diversifying digitally, investing in pilots and exploring new ways of doing business.
Q/ Has the placement of management graduates shown a positive trend?
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Many tech-based roles are gaining prominence. Artificial intelligence is also bringing forth new kinds of jobs in product and project management. Even among consulting firms, this trend is visible. Diversity in academic background is also playing a role in placements. While tech skills are useful, people with deep knowledge in a sector are finding interesting opportunities.
Given the uncertainty around the world, we do not anticipate placement trends to stabilise. In fact, schools that adapt faster may have an edge. While consulting rules the roost one year, finance is taking the cake the other, and so on. It is also heavily influenced by macroeconomic situations, including an increased focus on India as a potential job market. We do not see these macroeconomic situations stabilising in the near future.