On youth and engagement

Professor Leif Anders Thorsrud argues that the current debate surrounding Artificial Intelligence (AI) and education is built upon an overly simplistic understanding of what the business sector actually demands. He asserts that the reality of technological development is much closer to actual needs than critics suggest.

Thorsrud addresses the recent public discussion initiated by Nicolai Tangen, CEO of Norges Bank Investment Management (NBIM), who claimed that Norwegian educational institutions were not keeping pace and had not consulted him on their hiring needs. Thorsrud clarifies that both NHH and BI, institutions he represents, have indeed engaged with NBIM on precisely these matters. Tangen has since acknowledged being "too bombastic" and expressed a desire for further dialogue, a sentiment Thorsrud's institutions are ready to embrace.

However, Thorsrud highlights a student's critical observation: "Following the news is not the same as learning to build something." This student criticizes the focus on economic theory at the expense of technology-oriented subjects. The fact that NBIM hires more graduates with pure science backgrounds than from business schools is used as evidence that dialogue with the business world has not sufficiently altered educational outputs.

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Following the news is not the same as learning to build something.

Thorsrud counters this by detailing the adaptations made by BI. About ten years ago, BI launched Norway's first bachelor's degree in Data Science for Business, recognizing a growing market need. This was followed by a master's degree in the same field four years later. BI has since invested in numerous quantitative subjects, established a dedicated institute for data science and analysis, and now offers a five-year program with a strong emphasis on data science, including programming, statistics, machine learning, optimization, and AI. The institution is also admitting doctoral students in this field this year.

He further emphasizes that the interdisciplinary nature of these programs is a direct result of dialogue with the business sector, which consistently highlights the importance of combining science expertise with theoretical knowledge in economics and finance. While acknowledging the student's point that "for every credit point spent on portfolio theory, there is a credit point not spent on actually building something," Thorsrud implies that the opposite is also true, suggesting a balanced approach is necessary.

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for every credit point spent on portfolio theory, there is a credit point not spent on actually building something.