AI skills yet to become essential for MBA graduates: Survey

Despite the growing influence of Artificial Intelligence (AI) in the global job market, its impact on the MBA job pool remains limited, according to the latest GMAC Corporate Recruiters Survey. The survey reveals that AI is not yet a critical skill for MBA graduates, ranking second-to-last among 22 skills. However, its importance is expected to rise significantly in the coming years.

Confidence in graduate management education (GME) has increased among employers in key sectors such as consulting, finance, accounting, and technology since the pandemic. About 33% of recruiters plan to hire more MBA graduates in 2024 compared to the previous year, reflecting the value they see in the skills these graduates possess.

Currently, only 26% of global employers consider AI skills important for GME graduates. AI is defined in the survey as the ability to leverage AI technologies and platforms for data analysis, predictions, and process automation. While AI remains an optional skill for MBA graduates, many employers predict a significant rise in its importance over the next five years.

Interest in AI skills varies by region and industry. Employers in Central and South Asia show the highest current interest at 49%, followed by Africa. In contrast, only 13% of employers in the US currently see AI skills as crucial. The technology sector and Fortune 100 companies are more likely to value AI skills, with 36% and 34% of respondents respectively indicating its importance.

Employers in Western Europe and the technology industry anticipate AI skills becoming one of the top three most important skills in the next five years. According to GMAC CEO Joy Jones, future business leaders must harness technological advancements and manage the changes they bring.

The renewed confidence in GME is attributed to the strong performance of business school graduates, who tend to outperform other employees, fast-track to upper-level positions, and earn higher salaries. The survey also highlights the increased importance of remote work management skills, with about two-thirds of employers acknowledging this in today’s remote and hybrid working environment. Conducted from January to March 2024, the survey included 931 corporate recruiters and hiring managers from 38 countries.