The Third Epoch: How Business Schools Can Navigate the AI Transformation, by Jonathan H. Westover PhD

Abstract: Business schools face unprecedented disruption as generative artificial intelligence fundamentally challenges the value proposition that has sustained undergraduate and graduate business education for decades. This article examines how AI technologies are simultaneously eroding traditional sources of educational value—knowledge transfer, credential signaling, and relationship building—while creating new imperatives for business education at all levels. Drawing on strategic management theory, organizational learning research, and emerging empirical evidence on AI's impact on business tasks, we analyze the structural barriers preventing business schools from adapting their programs and propose evidence-based pathways for reinvention. The analysis reveals that incremental curricular adjustments are insufficient; business schools must fundamentally reimagine their value architecture around capabilities AI cannot replicate: causal reasoning, contextual judgment, ethical navigation, and relationship building in high-stakes environments. The article concludes that business schools' response to AI will determine whether they remain central to professional preparation or become peripheral to an increasingly AI-augmented business landscape.

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