The future of business schools: where do we stand twenty years later?

Purpose Reassesses the challenges and opportunities confronting business schools today in light of recent developments in their socio-economic and technological environment. Design/methodology/approach Reviews the current situation for business schools and draws inferences for the future. Findings Business schools should remain the leading providers of business education in the foreseeable future. However, to sustain their dominance, they must accelerate the adoption of artificial intelligence (AI) tools that are revolutionizing learning, teaching, and research. They must also bolster their external fundraising effort and address the ongoing shortage of faculty, while continuing to offer innovative curricula and programs that respond to the demands of students and employers. Originality/value The traditional model of business schools – where students gather in a physical location to attend standardized programs – has persisted since the inception of business schools because it is inherently robust. Its resilience stems from its adaptability and flexibility, as illustrated in this article. While the rapid advancement of AI presents significant implications for higher education, it is unlikely to fundamentally disrupt the prevailing business school model in the near term.