Revolutions in Big Data, Housing, and More – Boston News
Let’s explore some of the most interesting stories that have emerged from Boston business schools this week.
So Much For The Robocalypse – Everett
BU Questrom School of Business Richard C. Shipley Professor in Management Iain M. Cockburn, an expert in innovation, was recently interviewed by the business school’s magazine, Everett, about his new paper “The Impact of Artificial Intelligence on Innovation.” His research, written alongside members of Harvard and MIT and published in the National Bureau of Economic Research, explores the long-standing potential of artificial intelligence, which can become a more all-purpose technology, rather than a niche concept or simply a tool to replace every degree of human labor.
Cockburn argues that AI, if used wisely, can replace the menial tasks associated with white collar employment, such as legal services.
“What a lot of people are sitting up and noticing is that this form of automation or replacement of human work with a computer is now percolating into areas that have been largely unaffected by previous technological revolutions,” he says. “Take legal services. It turns out that by using this technology, you can create systems that will do a lot of low-level legal work, like scanning contracts, reviewing contracts, or reviewing documents.”
A pessimistic view could say developments like this could lead to job loss, which may be true. However, in the evolution of the modern job environment, flushing out repetitive tasks that do not require critical or imaginative thinking could allow people to focus on larger issues, rather than bogging down daily routines.
“Then there’s a second question: ‘If I didn’t have to spend so much of my day doing that, what could I be doing that involves imagination, insight, critical thinking?’ So, for some people, their jobs are going to get much more interesting.”
You can read more from the Everett interview of Cockburn here, and check out the “The Impact of Artificial Intelligence on Innovation.”
Could Big Data Replace the Creative Director at the Gap? – Harvard Business Review
Assistant Professor Ayelet Israeli, “an expert in channel management, pricing, online marketing, and eCommerce” took to HBS’s Cold Call Podcast to discuss Gap CEO Art Peck’s move to eliminate its creative director and “turn to big data to predict what the big next designs are going to be.”
Since Gap is now identified as a basics brand, Israeli explains that “maybe it’s okay to sell the trend that everyone else is selling. If you’re selling something that is more fashion forward, then you’re in a bigger problem because you need someone to create this new trend and not just spot the trend that everyone else is doing.”
“The other part of [Peck’s big data] strategy is essentially to shorten production cycles that they had at the Gap. They were from traditional companies that take about 10 months, almost a year, from when they decide on something and it reaches stores. Now they shortened it to about eight to 10 weeks for most of their product categories.”
You can find the full HBS article here.
Corcoran Center to Debut Housing Case Competition – Boston College News
BC Carroll’s Corcoran Center for Real Estate and Urban Action announced a new case competition and panel discussion moderated by Boston Capital Vice President and Director of Communications David Gasson entitled, “The Future of Housing.”
The competition is “intended to hone students’ analytical skills in the field, raise awareness about issues connected to affordable housing development, and offer an in-depth look at the Low-Income Housing Tax Credit as a tool that helps both communities and developers of affordable housing.”
Corcoran Center Executive Director Neil McCullagh writes, “This competition will be a way for students to understand that housing challenges are deeply connected to every facet of our lives. It will also provide them great vision into an industry where they can do well while doing good.”
“In the competition, students will be analyzing a real housing deal. They will need to present their best understanding of the policy and their analysis of the deal outlined in the case. They will then present their solution and recommendations to the judges. The best team will walk away with the grand prize.”
Read more about the “Future of Housing” case competition here and the full Boston College News article here.
What Are The Highest Paid MBA Salaries in San Diego?
If you’re looking to take in the California sun but avoid the fast-paced and high-priced centers of Silicon Valley or Los Angeles, heading southward to San Diego may be the perfect place for an up-and-coming business professional. Recently named the eighth best big city to live in the U.S., based on livability, education, health, and a strong local economy, San Diego is increasingly becoming the perfect spot for business students looking to advance their education and start a career. Not only is San Diego the perfect spot for those breaking into well-established fields within business, but it has also been ranked by Forbes as the best city to start a new business in the U.S. Demonstrating heavy concentrations in areas that predict high growth combined with adaptability to new business methods and tech make San Diego the perfect place for young entrepreneurs to put their education to work.
Of course, a city can really only top the list for business students if it can offer quality educations and high-value degrees. In a state with a notoriously high cost of living, students thinking about pursuing a degree in San Diego will want to be sure their investment is worth it.
Thankfully, San Diego offers a number of quality business schools with graduates that are able to quickly turn their degree into a high salary and promising career. Let’s take a closer look at the business schools with the highest post-graduate salaries for MBAs in San Diego.
Rady School of Management – UC San Diego
According to the Rady School of Management at UC San Diego Class of 2017 Employment Report for full-time MBA graduates, the overall salary average for MBA students was $84,335, with a majority of graduates finding jobs in San Diego’s ever-emerging technology industry. Tech-based companies actively hiring recent Rady MBAs include Amazon, HP, IBM, and San Diego’s own Qualcomm Technologies, Inc, among others.
Not only are the post-MBA salaries high for Rady graduates, but so is the likelihood that graduates will secure a job. About 82 percent of graduates had secured a job within just three months of graduating, and 10 percent started their very own company—reflective of San Diego’s entrepreneurial environment.
University of San Diego School of Business Administration
The average salary for graduates from The University of San Diego School of Business Administration is $72,363, with a true range of salaries anywhere from $50,000 to $100,000 per year. Within just three months after graduation from the School of Business, 83 percent of MBA students would find employment, covering a wide range of industries from technology (40 percent) to consulting (20 percent) and consumer products (20 percent). Top companies such as Amazon, Deloitte, Intel, and Hewlett Packard have hired USD MBA graduates.
Fowler College of Business Administration – SDSU
The Fowler College of Business at San Diego State University also boasts some of the highest MBA salaries in San Diego. More than two-thirds of graduates from the full-time MBA program at Fowler would find jobs or promotions within three months after earning their MBA, with an average salary of $61,467. Graduates were spread through a number of industries and professional functions, the most significant percentage working in business development/sales and within the Technology/IT/Information Systems fields. Following graduation, Fowler students found jobs with some of the country’s top brands, such as The Gap Inc., GEICO, HSBC Group, and PepsiCo Inc.
For prospective MBA students looking to get paid out west, you can check out our overview of the highest paid MBA salaries in Los Angeles and San Francisco as well.
Getting Paid: Highest MBA Salaries in San Francisco
San Franciso means many things to many people. Equal parts counter-cultural mecca, ground zero tech hub, haven for diversity, and real estate development nightmare, SF conjures images of Silicon Valley introverts and Haight-Ashbury hippies, as well as the high-earning Facebook employees who displace them.
