A Blueprint for Innovation:
Building the Intelligent Future at the Tepper School of Business: Strategic Plan 2024 – 2030
In a landscape dominated by b-schools founded decades earlier, the Tepper School of Business at Carnegie Mellon University stood out from the start as a change agent. From the curricular genesis of management science to the hands-on learning experiences of the management game and real-time FAST lab, the Tepper School made waves in a sea of “business as usual” programs. Even the way the school approached problem solving was different, resulting in the emergence of what later became known as the multidisciplinary area of artificial intelligence (AI).
Building on this legacy in an era defined by rapid technological change, the Tepper School is unveiling a bold strategic plan, "Building the Intelligent Future," to guide its trajectory from 2024 to 2030. This initiative aims to prepare students for a business landscape increasingly shaped by AI, big data, and interdisciplinary approaches.
"The changing world of business demands our intellectual leadership. The Tepper School delivers the world’s best combination of analytics and creative problem solving to achieve our vision."
-Isabelle Bajeux-Besnainou, Dean and Richard P. Simmons Professor of Finance
Embracing AI and Technology
The strategic plan, anchored by the school's mission to advance the science and practice of management, focuses heavily on integrating AI into business education. The Tepper School has always been at the forefront of applying data analytics to decision-making processes. Now, the emphasis will be on AI's potential to transform business operations and education.
"AI is rapidly transforming the way we work and learn," said Bajeux-Besnainou. "In the workplace, AI can enable greater efficiency through automation and drive better-informed decision-making. In the classroom, AI allows for personalized learning and real-time knowledge testing."
The Tepper School's Center for Intelligent Business will lead this charge, focusing on generative AI, human-AI interaction, and responsible business decision-making. This interdisciplinary effort will involve collaboration with engineers, social scientists, and public policy experts across Carnegie Mellon University.
Strategic Themes and Initiatives
AI for Business: The school aims to pioneer AI applications in business through research and education, driving ethical, value-creating decision-making. This includes integrating AI into undergraduate, master's, and Ph.D. programs, as well as expanding executive education to expose leaders to next-generation AI.
Economic Prosperity: The Tepper School is committed to advancing economic growth locally, nationally, and globally. Through initiatives like the Initiative for Inclusive Growth and Prosperity and the Sustainability Initiative, the school will focus on research in areas such as income tax policy, environmental regulation, and healthcare consumption.
Entrepreneurial Pursuit: Recognizing the role of startups as change agents, the Tepper School will promote entrepreneurship and innovation. The Corporate Startup Lab within the Donald H. Jones Center for Entrepreneurial Studies and the Swartz Center for Entrepreneurship will be central to this effort, providing students with hands-on experience in building and funding ventures.
A Human-Centered Approach
While technology and data are at the roots of the strategic plan, the Tepper School’s human-centered approach to problem solving is at its core. This is reflected in the school's commitment to inclusive excellence, data-informed and human-driven decision-making, and collaboration.
"We will use human intelligence — analytical, creative, emotional — to unleash data’s insights and reach smarter decisions," said Bajeux. "If led and managed by ethical leaders, analytics and data-informed decision-making have the power to enrich business and society while bettering the lives of all."
Inclusive excellence will be cultivated by creating a diverse, equitable, and inclusive community where all members feel a genuine sense of belonging. This diversity is seen as a driver of innovation, collaboration, and outstanding results.
Signature Initiative: Collaborative AI
One of the standout features of the strategic plan is the Collaborative AI initiative. This program aims to transform business education through integrated simulations of complex human and system behavior. By moving beyond traditional case study models, Collaborative AI will enable true-to-life simulations and personalized learning experiences.
"Collaborative AI will reshape business education, providing students with a strong foundation to build the tools of tomorrow," noted Bajeux. "It will also help leaders understand how to harness AI to amplify, not replace, human connections and ideas."
The initiative will also drive research, leveraging AI to tackle complex business problems and generate new solutions. The Tepper School plans to collaborate with industry partners and world-class experts from across Carnegie Mellon University to explore the economic, societal, and ethical implications of generative AI.
Process and Progress
The development of the strategic plan involved a comprehensive and collaborative process. Over 300 individuals, including faculty, staff, students, alumni, and advisors contributed through retreats, focus groups, interviews, surveys, and innovative practices like Pitch Day and a collective intelligence process using Unanimous AI.
To ensure the strategic plan remains a living document, the Tepper School will define key metrics to monitor and track progress. These metrics will allow the school to hold itself accountable and maintain a culture of continuous improvement. Annual progress reports will be communicated to stakeholders.
As the Tepper School launches this venture, it aims to remain at the forefront of business education, adapting to the ever-changing landscape and preparing future leaders to navigate the complexities of a data-driven, human-centered, AI-powered world.
