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Ana Freire
Ana Freire is Vice-dean for Social Impact & Academic Innovation at UPF Barcelona School of Management. Her research interests are in Data Science and Artificial Intelligence for economic and social impact.
1. What were the main outcomes of the summit?
AI Action Summit in Paris, co-chaired by France and India, represents a pivotal moment in shaping the future of artificial intelligence governance and development. This international gathering brings together nearly a hundred countries and over a thousand stakeholders to discuss the future of artificial intelligence (AI).
Some of the key outcomes from this Summit is Europe’s push to attract AI investments and reduce regulatory hurdles. Major AI announcements included a substantial investment of €200 billion in artificial intelligence through an initiative called InvestAI. This funding is aimed at developing the necessary infrastructure for training sophisticated AI models, including the construction of gigafactories. In addition, a coalition of over 60 European companies, led by venture capitalist General Catalyst, announced the EU AI Champions Initiative. This aims to accelerate AI adoption among industries by investing €150 billion in AI-related businesses and infrastructure in Europe over the next five years. The initiative also calls for simplified AI regulations to enhance innovation while maintaining safeguards.
As we can see, Europe’s AI strategy is shifting, focusing from regulation to innovation and attracting private investment. The outcomes of the AI Action Summit have several significant implications for Europe’s industry, workforce, and of course for our business education sector.
2. What does this mean for the skills and knowledge B-school students need to develop
Even before the AI Action Summit, the International Monetary Fund predicted that at least 40% of jobs worldwide could be affected by artificial intelligence. That percentage may be even higher now, given the rapid acceleration of AI innovation and the easing of regulatory constraints. In this fast-changing landscape, education emerges as the most powerful tool to help society navigate the disruption without adversely affecting the workforce. Those who remain uninformed about AI may find themselves at a disadvantage, potentially replaced by individuals with stronger technological skills.
However, transforming an entire education system to address the dynamic needs of the labor market is a lengthy process and primarily aids future generations. This leaves current professionals at risk of being left behind during the transition. Here is where business schools, often the educational institutions most closely linked to industry, can play a pivotal role. Through concise programs such as short courses, postgraduate certificates, and master’s degrees, they enable a swift yet effective re-skilling for today’s workforce. Rather than requiring a three- or four-year commitment, these shorter, targeted educational pathways empower employees to rapidly update their skill sets in alignment with emerging market demands. This ensures that working professionals can adapt quickly to the growing influence of AI and other disruptive technologies, maintaining their relevance and competitiveness in the evolving job market.
Furthermore, to fully embrace AI-driven change, business school students must develop an array of specific AI-related competencies. These range from foundational data analytics and machine learning to more advanced areas like predictive modeling and data-driven decision-making. Equally critical is an understanding of AI’s ethical implications, including data privacy, bias, and broader societal impacts. By mastering these skills and perspectives, students can stay ahead in a job market increasingly demanding a blend of business acumen and technical expertise.
3. Where is business education on the adoption of AI in teaching, research, and ops?
But this is also a challenge for business schools. Traditionally, they placed a strong emphasis on core disciplines such as finance, accounting, marketing, or strategy. However, with the rapid rise of emerging technologies, they are now competing to offer cutting-edge, tech-focused content and even specialized technology programs. This shift has led to a significant transformation in faculty composition, as institutions strive to integrate expert practitioners and scholars from the tech sector.
Yet, doing so is no small feat. Tech professionals with in-demand skills in areas like AI, data analytics, or even cybersecurity are heavily courted by top companies offering highly competitive salaries and benefits. For business schools, operating within academic frameworks and budget constraints, attracting and retaining this caliber of talent can be a formidable challenge.
Meeting this challenge will require a concerted effort and deeper collaboration between industry and academia. By working closely together, business schools can stay at the forefront of technological advances, while companies gain access to a better-prepared, future-ready workforce. This partnership will be crucial in bridging the gap between theoretical knowledge and practical application, ensuring both institutions and students thrive in an ever-evolving global economy.
Next page: Pinnaree Tea-makorn, AI Strategist at Sasin School of Management, ThailandÂ