Future managers must have a good, sound knowledge of data science, mathematics and statistics, as the future of every industry would revolve around artificial intelligence, said speakers at a convention on artificial intelligence (AI).
At the Madras Management Association’s All India Management Students’ Convention 2022 held on the theme ‘AI Shaping Today and the Future’ on on Tuesday, speakers urged the students to enhance their skills by taking up serious courses in data science and update their knowledge by reading up on technological revolutions around them. They used examples of AI chess and checker players that permanently changed the notion that the human brain was superior to computers.
Indian Institute of Technology Madras Director V. Kamakoti traced the evolution of chess from a game of human intelligence to one governed by computers that analysed patterns based on information fed into it. Human resource departments could use AIs to assess an employee’s performance, progress and even recruitment, he said. In the banking sector, AI could be used to assess a person’s credit worthiness and predict if a loan given out would be repaid.
According to him, in the near future, AI and automation would not replace humans but rather take over in performing mundane tasks. “Today, we are evolving a process so that it doesn’t need human intervention. This is precisely the reason why AI is also here. AI can only be an aid to human beings but never replace them,” Dr. Kamakoti said.
Further, he added: “You need to have a good basic understanding of data science to make sensible use of AI. Data science is not just about excel sheets and involves deep mathematics, good understanding of statistics, probability theory, behavioural sciences and such. I strongly suggest that all MBA graduates attempt a serious course in data science and get into a degree programme. You must look at a very serious course as a very deep foundation in data science is extremely important for you to build a career in AI.”
M. Arumugam, managing director of Broadline Technologies, also told students that they should be comfortable with AI in their career as it was transforming life beyond work. He traced his journey in AI and computers to 1986, as a student. “The power of computing is very important going forward. Work on AI started 80 years ago,” he said. AI was not only used in business but also in nanotechnology, pharmaceuticals and medicine, he added.
“We are now international citizens connecting across the world. Unless we qualify ourselves it becomes too complicated to compete,” he cautioned, urging students to equip themselves with knowledge. “People in management need to know more about handling AI. You should know about data analytics. You should learn a little mathematics and statistics, which will make you comfortable,” Mr. Arumugam added.
On the occasion, an online magazine for management students was also launched. The organisers said over 900 students were attending the event offline and another 20,000 were viewing it online from across the country.
