Another Top U.S. B-School Adds An AI Track To Its MBA Program

The University of Virginia’s Darden School of Business has introduced a new MBA concentration in AI, Data Analytics, and Decision Sciences, the school announced this week. The concentration has a menu of 25 courses, of which students must complete six to fulfill the requirement.

According to the school, the new offering is designed to give MBA students experience in areas that reflect growing employer demand for analytical and quantitative skills. The concentration is available to students in Darden’s full-time MBA program.

“Darden has always been at the forefront in creating transformational learning experiences, shifting as the tools of business evolve over time,” Dean Scott Beardsley tells Poets&Quants. “Today, our students want and need practical skills in AI, data analytics and decision sciences. And many employers tell us they expect students to bring this knowledge and capability with them. So if Darden is going to prepare students to be leaders in business, we must invest our time and energy in what the market needs and expects.

EXPANSION OF DATA-FOCUSED CURRICULA ACROSS MBA PROGRAMS

“Darden has increased its involvement in AI and all of these areas exponentially,” Beardsley continues. “We expect our students to know not just how to use these tools in their daily life, but to envision what new businesses, products and value for society they can create using AI. To help them realize that vision, our students and faculty use AI in the classroom. We incorporate AI in our school operations. Our faculty research its development and practical use in business. What makes Darden’s approach to AI, data analytics and decision sciences distinct is our commitment to including the ethics of its development and use in everything we do.

“We are very proud to provide our students more opportunities in these critically important and highly desired focus areas.”

The new track adds to Darden’s existing MBA concentrations in areas such as asset management, investment banking, marketing, entrepreneurship, strategy consulting, and supply chain management.

“Darden’s offering will prepare students to contribute to and lead organizations that use data, data science, and artificial intelligence as part of their core business processes,” says Yael Grushka-Cockayne, vice dean and senior associate dean for professional degree programs at Darden. “Students who complete the concentration will bring proven analytical and quantitative abilities to employers.”

EXPLOSION OF AI TRACKS, COURSES & PROGRAMS

Darden’s new concentration follows similar developments at other business schools. In recent years, a number of institutions have introduced analytics- and AI-focused programs, majors, certificates, or specializations as part of their MBA offerings.

• MIT Sloan School of Management offers a Business Analytics track and courses through its College of Computing.
• The Wharton School at the University of Pennsylvania offers majors in Business Analytics and AI for Business, and hosts the Wharton AI & Analytics Initiative.
• Kellogg School of Management at Northwestern University offers an MBA pathway in Data Analytics.
• Chicago Booth School of Business includes analytics-focused coursework under its Econometrics/Statistics and Analytical Finance concentrations. Booth has had a Business Analytics concentration in its MBA since 2018.
• Berkeley Haas School of Business launched a Certificate in Business Analytics that includes coursework in AI and machine learning.
• NYU Stern School of Business offers a specialization in Technology and Analytics, supported by its Fubon Center for Technology, Business, and Innovation.

Several schools also offer joint or dual-degree programs in analytics and business, including Darden’s own programs with UVA’s McIntire School of Commerce and the School of Data Science.

RELATED DEVELOPMENTS AT DARDEN

In 2023, Darden launched the LaCross Institute for Ethical Artificial Intelligence in Business, which supports instruction and research in AI and ethics across the university. The institute was established with a gift from Darden alumnus David LaCross, a 1978 graduate of the B-school, and his wife, Kathy.

At $101 million, it is the largest donation in the school’s history.

The institute collaborates with faculty across UVA and is intended to contribute to the school’s broader focus on AI and data-driven business strategy.

CHANGES TO THE GMAT REFLECT SIMILAR SHIFTS

The introduction of AI and analytics concentrations in MBA programs follows broader changes in the admissions process.

In 2023, the Graduate Management Admission Council launched the GMAT Focus Edition, replacing the classic GMAT format. The new version of the exam is shorter and includes a Data Insights section that tests candidates on skills such as table analysis, graph interpretation, and multi-source reasoning.

These types of questions now factor directly into the overall GMAT score, replacing sections such as the Analytical Writing Assessment.

According to GMAC, the new exam format is designed to reflect the skills most relevant in today’s business environments, including the ability to work with complex data in a decision-making context.

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