Generative AI is an application that offers software transforming models (GPT-1,GPT-2,GPT-3,GPT-4), Business functions and services in content creation and creative innovation. The market is anticipated to experience substantial expansion from the value of USD 11.1 billion in 2023 to 76.8 billion by 2030. Bachelor of Business Administration-BBA https://www.jimssouthdelhi.com/bba-course.php degree courses have justified the use of generative AI application in the job market with the introduction of generative pre-trained transformers from a family of neural network models. These models have redefined job roles in the areas of research & development, strategy simulation, decision making, fraud detection, financial policy & strategy making. All of this is driven by an optimized approach that will lead to future projection in all aspects of business.
Generative AI plays several roles in applied Business Administration:
- Market research & Analysis: Generative AI can assist students in conducting market research by generating synthetic data-sets that mimic real market conditions.
This will enable the students to analyze market trends, customer behavior and competitive landscapes more comprehensively.
- Business Strategy Simulation: Generative AI can be used to create business simulation models . Students can experiment with different strategic decisions and observe how these decisions impact the company performance, helping them, thereby to develop strategic thinking and industry specific skills.
- Content Generation: Generative AI can assist in generating business reports, marketing content and financial forecasts. This will enable the students to focus on the interpretation and analysis of results rather than spending excessive time on data preparation and document creation.
- Customer Engagement : Students can learn about customer engagement strategies by using generative AI to create chatbots or virtual assistants that simulate interactions with customers. This will help in understanding customer service and engagement techniques. Students will also be able to engage in competitive Events.
- Predictive Analytics: Generative AI models can be used to predict trends, customer behavior and market changes aiding, thereby, in proactive decision making.
- HR & Recruitment: AI can help streamline the recruitment process through automated resumes.
- Fraud Detection : Generative AI can enhance fraud detection systems in finance and E- commerce.
- Decision Support: It can aid in strategic decision making by simulating different scenarios and their outcomes.
- Financial Analysis: Generative AI generates financial models, forecasts and assists in risk assessment and portfolio management.
- Operations: Generative AI can optimize supply chain management, inventory control and production scheduling.
Incorporating generative AI in a BBA program can prepare the students for the global business landscape by providing practical and hands-on experience with cutting edge technologies. With the upcoming AI tools BBA students can enhance their chances of placement in high end jobs.
The instruction in the BBA classes has started incorporating discussions on the abovementioned technology. This technology will, by all means , reduce the time and cost of business operations. JIMSVK2 is proactive in focusing on all such technologies in its curriculum.
Dr. Nilima Thakur
Assistant Professor
BBA Department