Miami Herbert Business School: A Leader In AI Business Degrees

Artificial intelligence has thoroughly beguiled the business world in 2023, starting with a first-quarter run that saw AI turbocharge corporate revenues and stock prices as if with a magic wand. 

At the Patti and Allan Herbert Business School at the University of Miami, AI’s sudden ubiquity isn’t regarded as magical, or even particularly surprising. Half a decade ago, when the mention of Chat GPT would have elicited head scratching and quizzical expressions, Miami Herbert was laying the groundwork for students to fully capitalize on the AI explosion we’re watching unfold today.  

A few months back, when AI was rightfully being recognized as a remarkably transformative business phenomenon, Miami Herbert already had several cutting-edge, STEM-certified graduate programs on offer; a Master of Science in Business Analytics; a Master of Science in Accountancy; a Master of Science in Taxation; and a Master of Science in Finance. These programs, in tandem with the STEM-certified Master of Science in Sustainable Business and the full-time MBA program, offer a sterling return on investment to students seeking to benefit from the profitable union of machine learning and data analytics.

“Even though we are growing our classes, we can’t grow them fast enough,” observes Professor Indraneel Chakraborty, chair of the Finance Department. “The quality of the students involved is growing, too, and our STEM-related programs are becoming more and more selective.”

This growth makes it easier for Miami Herbert to enlist the aid of employer partners who come in and give free lectures about how their firms utilize AI. 

“Our industry partners also engage with the students to make sure they are aligned with industry expectations,” adds Chakraborty, a Wharton School graduate who joined Miami Herbert in 2015 after working with Citibank. 

MS in Accountancy/Taxation

Miami Herbert’s STEM-certified Master of Science in Accountancy and Master of Science in Taxation is overseen by Professor Daniel Medina, a one-time forensic accountant who joined Miami Herbert in 2016, and has seen his graduates move on to the IRS, Chicago Cubs baseball team, FBI, and SEC, among other employers. 

“Analytics is huge today,” says Medina, whose students take four classes per semester, over a seven-week span. “Every business collects data and there’s a shortage of individuals that know how to interpret data. So, we’ve added more data-driven courses and are looking to transform more students from accountants into business advisors.” 

Medina grows particularly animated when discussing the capstone program associated with the STEM-certified Master of Science in Accountancy/Taxation. “It’s basically a case-based course where the instructor has students look at a company and go through all the financial statements – soup-to-nuts — from an accounting point of view,” Medina says. 

Along with maximizing their grasp of corporate accounting, students finish the program far savvier investors than when they started, according to Medina.

Applications for the MS in Accountancy/Tax are open for Spring 2024. To apply or to find out more information about the MS in Accountancy, click here. For information about the MS in Taxation, or to apply, click here.

Master of Science in Business Analytics

The director of Miami Herbert’s STEM-certified Master of Science in Business Analytics, Professor Doug Lehmann, has been prepping students to work with AI since 2016. 

“Our department and our degree are definitely at the forefront of what’s going on in data science and analytics,” Lehmann says proudly. “Our curriculum is sort of a mix between computer science, statistics, and business, and we’ve put a great deal of effort into updating the curriculum each year to stay relevant. It’s an exciting time to be in this field.”

Lehmann and his team have arranged for an employee of a major accounting firm to teach five AI-focused workshops to students. “The idea is to bring in someone from industry that can teach a new and modern topic that we don’t have in the curriculum yet.” 

When Lehmann was earning his Ph.D. in biostatistics from the University of Michigan, the field of statistics had a bit of a ho-hum aura, he recalls. “Now, everybody wants to be a data scientist.”

Lehmann says that last year, Master of Science in Business Analytics graduates lacking work experience received average annual salaries of $93,000. In 2016, some graduates were lucky if they cracked $70,000. 

“Employment out of our program has been really good. After you learn the skills, you can work in any industry and for any company,” Lehmann notes, adding that the breakdown of students in Herbert Business School STEM-certified degree programs is roughly 60 percent international, 40 percent domestic. 

Applications for the MS in Business Analytics are open for Fall 2024. To apply or to find out more information, click here.

MS in Finance

The STEM-certified Master of Science in Finance program has a number of new course offerings, including investment management, portfolio management, artificial intelligence and machine learning quantitative finance, market microstructure, and alternative investments.

Applications for the MS in Finance are open for Spring 2024. To apply or to find out more information, click here.

All things being equal, Miami Herbert Professor Tie Su believes the scales are clearly tipped in his school’s favor.

“Miami is a city like no other and Miami Herbert is a business school like no other, with a faculty that’s comprised of world-class scholars,” says Su, who recently became program director for the STEM-certified Master of Science in Finance program. “Students here get great industry exposure, as well as a great curriculum.

“We’re looking for people with high undergraduate GPAs and high standardized test scores, and I interview every single one of them for motivation, ethics–everything. We’re very serious about the program and it’s not easy to get in.” 

For more information about any of our STEM-certified master’s programs, click here.

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