Why having AI skills is important in today's business world
In the rapidly evolving landscape of the business world, one thing is clear – artificial intelligence (AI) is not just a technological trend; it's a transformative force shaping the future. The integration of AI into various industries has become inevitable, making it crucial for professionals to develop AI skills. Today we talk about why having AI skills is important in today’s business world.
Study Data Science & Business at Berlin International
Successful management in the digital age requires two skills: championing data science and business analytics in combination with management with a global perspective. Our BA Data Science & Business program brings together human and artificial intelligence while using progressive teaching concepts to ensure a successful learning journey for all students, regardless of background. Through hands-on experience and expertise and our advantageous location in the heart of Berlin, we provide the necessary skills for future employees in the area of AI and data science.
Applications at Berlin International are now open! Apply now until August 31st, 2024.
Essential AI Skills for Professionals
The global workforce is urged to constantly reskill, as technological advancements favor some new skills while rendering others obsolete. Here are some essential AI skills that professionals are expected to have.
Data Science
At the core of AI lies data, and professionals must be adept at not only understanding but also harnessing the power of data. Data science involves the ability to analyze, interpret, and derive meaningful insights from large datasets. Proficiency in data manipulation tools and understanding statistical concepts are fundamental for professionals looking to leverage AI effectively.
Machine Learning (ML) Expertise
Machine learning (ML) is the engine that drives AI applications. Professionals should familiarize themselves with ML algorithms, including supervised and unsupervised learning, and understand how to train models for various tasks. This skill is crucial for implementing AI solutions that can make predictions, classify data, and automate decision-making processes. A subset of ML that is also important, is deep learning (DL). Unlike ML where the AI can automatically adapt with minimal human interference, DL uses artificial neural networks to mimic the learning process of the human brain.
Programming Languages
While not every professional needs to be a hardcore coder, having a foundational understanding of programming languages is advantageous. Python, in particular, is widely used in AI development. Professionals should be comfortable writing scripts, understanding code, and collaborating with data scientists and developers to implement AI solutions.
Natural Language Processing (NLP) Competence
As businesses increasingly adopt chatbots, virtual assistants, and language-based AI applications, professionals need to be familiar with Natural Language Processing (NLP). This skill involves understanding how machines interpret and respond to human language. It's particularly relevant in customer service, content creation, and other areas where language understanding is critical.
Ethical AI Awareness
With great power comes great responsibility. Professionals working with AI should be aware of the ethical implications of AI technologies. This includes understanding biases in data, ensuring fairness in AI models, and addressing privacy concerns. Being ethically conscious is not only a moral imperative but also crucial for maintaining trust with customers and stakeholders.
Having AI Skills Can Increase Salaries by 40%
According to a study by researchers at the Oxford Internet Institute and the Copenhagen Center for Social Data Science, employees with AI skills are ‘particularly valuable’ and command salaries that are 21% higher than average but can potentially go up to 40%. This is due to their strong complementarities and their rising demand in recent years.
Among the most valuable AI skills are data science and programming languages. Of the frequently in-demand AI skills, the top 5 in terms of economic value to the worker were found to be:
- Machine Learning (+40%)
- Tensor Flow [1] (+38%)
- Deep Learning (+27%)
- Natural Language Processing (+19%)
- Data Science (+17%)
The study findings also indicate that a skill’s value increases when it has the potential to be combined with others. One reason why certain skills, like data analytics, are valuable is that they can be combined with other highly valued skills. Conversely, skills like photo retouching can only be combined with a specific set of other skills, thus lowering the value.
Benefits of Using AI in Businesses
Organizations are experiencing real benefits from integrating AI technologies into their operations, and these benefits are projected to have a substantial impact. Below are some of the benefits business professionals can expect when using AI.
Driving Innovation and Competitiveness
In an era marked by constant innovation, businesses and professionals that embrace AI gain a competitive edge. AI technologies, such as machine learning and natural language processing, can analyze vast datasets to unveil insights that were previously hidden. Companies with AI-savvy professionals can leverage these insights to make informed decisions, anticipate market trends, and stay ahead of the competition.
Enhancing Efficiency and Productivity
Automation, a key aspect of AI, is revolutionizing the way businesses operate. AI-powered tools can streamline repetitive tasks, allowing employees to focus on more strategic and creative aspects of their roles. Whether it's automating customer support with chatbots or optimizing supply chain management, AI contributes to increased efficiency, saving time and resources for organizations.
Mitigating Risks and Strengthening Security
With the increasing digitization of business processes, the importance of cybersecurity cannot be overstated. AI tools are adept at identifying and mitigating security threats in real-time. Professionals with AI skills are instrumental in developing robust cybersecurity measures, protecting sensitive data, and ensuring the integrity of digital infrastructure.
Facilitating Cross-Functional Collaboration
AI is not confined to the realm of IT; its impact extends across various business functions. Professionals with AI skills can bridge the gap between technical and non-technical teams, fostering collaboration and innovation. Understanding the capabilities and limitations of AI technologies is essential for effective cross-functional communication.
Adapting to Technological Shifts
The Fourth Industrial Revolution is characterized by the integration of digital technologies into all aspects of business and society. AI is at the forefront of this revolution. Professionals with AI skills are better equipped to adapt to technological shifts, ensuring they remain relevant and valuable contributors to their organizations.
Thank you for taking the time to read our article about why having AI skills is important in today’s business world. If you are interested in pursuing a career in AI and data science, take a look at our BA Data Science & Business program.
Feel free to reach out to our Admissions Team at any time via application@berlin-international.de.
Study BA Data Science & Business at BI
The learning environment fostered at Berlin International is student-centered, hands-on, and has a strong focus on an applied, practitioner approach. Our teaching concept focuses on project-based learning and uses a number of innovative teaching techniques, such as case-based teaching, analytical labs and real-life simulations. Students work individually and in groups in order to promote professional and personal growth and the development of team skills. All Bachelor and Master programs at Berlin International are taught in English. In combination with our diverse student and teaching body and our global network, this enables us to offer a truly international academic experience.
All our Business students acquire the necessary foundations for successful further study during the first year of their program — no prior knowledge is required. The second and third years then focus on students’ chosen specializations.
In the BA Data Science & Business program, students receive a thorough grounding in both management and data science, highlighting the interdependence of these two fields in a data-driven economy. This grounding covers:
- Traditional management courses such as International Business and Strategy, complemented by a set of soft-skills courses such as Team-building and Conflict Management, as well as consulting.
- Courses that sit at the intersection of management and data science, such as Digital Marketing and Platform Business.
- Programming in Python and R, are the two most widely used programming languages in data science. (No prior knowledge of programming is necessary — it is taught in a hands-on manner whereby students get extensive experience with a wide range of datasets, applying machine learning and other analytical techniques.)
- Courses focusing on conceptual modeling techniques and tools, such as Digital Enterprise Management and Database Management.
- Students will have the opportunity to obtain certificates in machine learning and cloud computing from the Amazon Web Services Academy.
These subjects are never abstract but are always taught in an applied manner – the goal is to make the learning journey fun and to kindle intrinsic motivation. Current students value this highly: the courses with the seemingly most difficult material are also those which enjoy the highest rates of student satisfaction!
To gain further hands-on experience and sharpen their expertise, students undertake an internship at an organization of their choice during their fifth semester. Berlin International supports students in preparing for the internship and finding a suitable organization. Finally, the Bachelor Thesis is an opportunity for students to explore a topic that interests them independently and in-depth.
Around the world, there is a severe shortage of skilled professionals who are not only trained in business but also understand and can realize the opportunities that digitization has to offer. Due to this shortage, salaries have risen sharply for anyone working at the intersection of management and data science.
There are many different careers available to students of Data Science & Business upon graduation, both in traditional management roles and in more data-driven, analytic areas of organizations. Given the many different possibilities, the examples below represent only a small sample of such careers:
Business Analyst and Data Scientist
Both business analysts and data scientists use data to understand and quantify business drivers such as what are the core aspects of a product’s success. In addition, data scientists have the skills to develop models that make predictions about, for instance, individual consumers and whether a given consumer is likely to buy again from the company.
Business Developer
A business developer is familiar with the key competencies of the organization and identifies and evaluates opportunities for future growth, such as for a new data-driven product, or the expansion or repositioning of an existing product.
Product Manager
A product manager is responsible for the management of products and serves as a hub connecting the different business units that all work together to ensure a product’s success — units such as sales, development, and legal. A product manager, therefore, needs a broad understanding of all relevant aspects of the business. In a data-driven environment, this entails a deep understanding of the opportunities and limits of machine learning.
Marketing Manager
A marketing manager makes sure that the four Ps — the four essential factors involved in marketing a good or service — are well aligned. These are the product and its positioning in the market with respect to competitors, the price (what the consumer pays), the place (where a product is marketed online or offline), and promotion (i.e. advertising). This role often involves working extensively with data.
Enterprise Architect
Enterprises are complex systems with different organizational units, employees, processes, products and services, customer groups, suppliers, business partners, IT systems, and further resources. By offering a holistic perspective, Enterprise Architects link different views of an organization with conceptual modeling methods. They address the main concerns of key stakeholders and their strategic goals, analyze gaps within the IT landscape, and define the actions to be taken.
Learn more about the BA Data Science & Business program and Berlin International. Below, you can download the study plan, the Berlin International brochure, and our current academic calendar in PDF format.
Apply for BA Data Science & Business
To meet our admission requirements for the Bachelor degree programs in Business Administration, one needs to hold the German Abitur / Fachabitur or equivalent. Any foreign qualification will need to meet the equivalence criteria to these German certificates, which is set by the German Central Office for Foreign Education.
The requirements for equivalence vary from country to country. We have summarized a few of the most frequently asked about education systems:
To confirm whether you meet the requirements to study in Germany, the German Academic Exchange Service provides an English language resource here.
For the original German source, please check the homepage of the Kulturministerkonferenz here.
There are four admission possibilities:
Direct general admission – you are qualified to start undergraduate studies into any subject area.
Direct subject-restricted admission – you are qualified to begin undergraduate studies in the subject area you have previously studied.
Subject restricted admission to a preparatory course/the Feststellungsprüfung (university qualification exam) – you require additional periods of study before you can begin undergraduate studies in Germany, see more information below.
Admission is not possible without additional proof of education – the qualification you hold is not equivalent to a university entrance qualification in Germany. You will need to complete further qualifications to meet the admission requirements.
Preparatory Course / Additional Studies
If you current educational qualficiations do not fully meet the Abitur/ Fachabitur-level in Germany, and you will need a Preparatory Course or additional studies, here are your 3 options:
Option 1: International Year One
Through our brand new partnership with the Touro University Berlin, the International Year One is the perfect pathway to fulfill one year of university study after higher secondary education, ensuring a smooth transition into our bachelor programs in business administration.
Find out more here.
Option 2: Study time
As an alternative to our International Year One, you can enroll at a university outside of Germany, and complete the first academic year of a bachelor´s degree successfully. In order to meet the admission requirements, the university and program must be fully accredited, you must choose the same or related subject you intend to apply for at BI, and you must complete the first academic year with all courses and credits successfully. For some countries, you may need to complete more than 1 academic year.
If you choose this route, you would be welcome to apply as a transfer student into a higher semester. Read more about this in the ‘Transfer students and course acknowledgments’ section.
Option 3: Studienkolleg
A 'Studienkolleg' is a university preparatory course to prepare your for German universities. There are different types of Studienkolleg programs, for business programs, you would need to choose the 'W' or 'WW' course.
German language is required for anyone wanting to study at a Berlin-accredited university after completing the Studienkolleg.Therefore, it is not a typical route for our students.
For more information on Studienkolleg programs, click here.
Please note that Berlin International can only consider applicants who meet the admission requirements for the desired program.
All applicants who meet them will be subject to faculty selection and seat availability per program.
Applicants for our bachelor programs in Business Administration can join our International Year One, through our new partner Touro University Berlin, to meet the admission requirements mentioned above.
Find out more here.
The application process for studying Data Science & Business at Berlin International is straightforward. You can simply and safely share your personal information through our online application platform. A complete application includes the following documents:
- Passport
- High School Diploma and Transcript (Please also submit an official translation into English or German if they are in another language.)
- University Certificate and Transcript (if you already have university-level studies). Please also submit an official translation into English or German if they are in another language.
- English language test certificate (CEFR level B2 or above)
For more information, including course acknowledgement and transfer applications, please use the menu item Admission.
Our BA Data Science & Business program is taught in English. We will require proof of your language skills. German knowledge is not required.
If your language skills are at CEFR Level B2 or above, one of the following currently valid language test certificates and scores can be accepted for your application:
- TOEFL ITP: 543
- TOEFL IBT: 74
- IELTS (Academic): 6.0 Overall
- Cambridge FCE: B2
- PTE Academic: 59
- BI internal exam/ BAU 'English Language Proficiency Exam': 60/100
- IB Diploma: English A or B at HL or SL
- German Abitur
The score must be earned within the last two years.
If you have not completed high school in a majority-English speaking country (USA, UK, Canada, Australia, Ireland, New Zealand) or a bachelor's degree fully in English, an approved language exam is required in order to qualify for admission.
You are welcome to attend the internal Berlin International language proficiency exam. It will be hosted online, participation is free of charge, and can be offered once an application to one of our programs has been made and admission requirements have been met.
For the dates of our next language proficiency exam, see the Language Requirements tab on our Admissions Page.
Preparatory School:
If you do not yet have CEFR level B2 English, and are eligible to study in a BA program at BI, you can sign up for our English Preparatory School.