Many people still wonder how magical AI is. AI simplifies work, particularly work that is repetitive, require accuracy, involve complex and large data and demand high-level analytical processes. At a simple prompt, AI efficiently produces solutions for people. Without a doubt, the crucial fields of economics and business both derive benefits from the existence of AI.

Despite its myriad benefits, concerns have emerged about AI, especially over its use in academia, where it can compromise integrity. Consequently, the question of how to deal with AI has not been fully resolved for most academics.

In their recent article published in the prestigious Academy of Management Learning & Education, Moser et al. raise concerns regarding the potential for AI to profoundly and irreversibly alter morality. They argue that education must play a pivotal role in preventing the deterioration of human judgment in economics and business as a result of using AI.

The rise of diverse type of artificial intelligence presents a challenge for educators and students in economics and business schools.

On the one hand, since current economics and business practices demand AI, its incorporation into the higher education curriculum is important. For example, these disciplines need to study how to leverage AI for purposes such as business intelligence and forecasting to make better decisions.

On the other hand however, generative AI is one among several technologies that have broader implications and require deeper consideration.