Executive education is always evolving, in response to the needs of the business world. And, in 2024, top business schools around the world are offering innovative programs that cater to the demands of modern executives.
These programs focus on essential skills such as leadership, digital transformation, sustainability and global strategy, reflecting the current trends and challenges in the business landscape.
Moreover, these institutions are integrating advanced technologies, like AI and data analytics, into their curricula to equip executives with the tools needed to drive innovation and make data-driven decisions.
Generative AI
At the forefront of executive education in 2024 is the rise of generative artificial intelligence (AI). “The hottest topic on our clients’ minds these days is the rise of gen-AI and how to unlock its potential to drive growth and improve competitiveness,” says Stephanie Hodnett, executive director of executive programs at the University of Toronto’s Rotman School of Management.
To meet this demand, Rotman is offering a program titled “Generative AI and Organizational Transformation”. Leveraging the University of Toronto’s strengths and reputation in technology, this program aims to provide executives with a strategic roadmap to deploy generative AI effectively. The course will enable leaders to drive growth and improve competitiveness through advanced AI technologies.
Sustainability and ESG
Another significant focus area is sustainability. “Rotman created a unique ‘ESG Designation’ program to equip leaders to align business models with responsible practices to unlock innovation opportunities and ensure long-term organizational success,” notes Hodnett.
The University of Toronto’s recognition as the most sustainable university in the world by the QS World University Rankings underscores its commitment and expertise in this domain, she adds.
Digital transformation
Patrick Murray, head of open programs at UCD Smurfit Executive Development, echoes similar themes in Ireland. “Key topics and specializations in executive education for 2024 will continue to center around digital transformation as well as sustainability,” Murray explains.
Executives are increasingly aware of the potential of digital technologies, including AI, to transform their organizations. To support this, UCD Smurfit offers programs such as the “Diploma in Artificial Intelligence and Business Analytics”.
Sustainable business transformation is also a major focus, with specializations such as sustainability leadership, sustainable finance and sustainable supply chain management all popular.
Both Murray and Rotman’s Hodnett agree that the interest in AI and digital tools reflects the business world’s evolving needs. “AI has now moved from hype to reality for many executives with tools such as ChatGPT creating opportunities for them to play with AI tools for the first time,” says Murray.
This shift has increased demand for digital and AI-focused executive education courses, as leaders seek to future-proof their careers and leverage these technologies for competitive advantage.
Regulatory changes
The drive for sustainability, meanwhile, in executive education is also a response to evolving regulatory standards. Managers and leaders need to align their strategies, business models, and governance with these new standards. “In the area of sustainability, incoming regulation is a big driver of demand for these types of programs,” explains Murray.
Courses focusing on sustainability leadership and specialized skills are crucial for organizations aiming to meet these demands and drive the transition towards sustainable practices, he adds.
Emphasis on human skills
Looking beyond 2024, Hodnett at Rotman predicts an increased emphasis on leadership and behavioral skills. “I think as technology and AI evolve to take over the rote tasks that machines can do, it will be even more critical for us to develop and refine the skills that make us human – such as judgment, decision-making and empathy,” she says.
The complexity of the modern world will necessitate leaders who excel in these human-centric areas, Hodnett believes.
Integration of advanced technologies
Murray, meanwhile, foresees exciting developments in the use of digital technologies in executive education. “One of the most exciting trends in executive education is how digital technologies including AI and machine learning will be leveraged,” he notes. Virtual and augmented reality (VR/AR) will be used as well for immersive learning experiences.
But AI and data analytics will power personalized learning journeys, offering customized pathways tailored to the individual needs of executives. “During 2024 and beyond, I expect to see an increase in the number of partnerships between business schools and external AI companies to deliver this type of learning experience to individual learners and organizations at scale,” adds Murray.
