New Contours of Management: Artificial Intelligence, Interconnected World and Industry 4.0

The IILM University and Global Compact Network India, in association with the India International Center, presented a special lecture by Prof. Jagdish Sheth on a topic that is extremely relevant in today’s fast changing world. Speaking on New Contours of Management: Artificial Intelligence, Interconnected World and Industry 4.0, Prof Sheth, Charles H. Kellstatd Professor of Marketing at Goizueta Business School, Emory University, USA, elaborated upon the divergent stages through which world has evolved commencing with the Industrial Age 1.0 to the Infrastructure Age (Industry 2.0), Information Age (Industry 3.0) and emerging into the current Knowledge Age (Industry 4.0). An era of artificial intelligence, data mining & business insight, big data, social media, user experience & sharing economy, facebook, knowledge mobility, blockchain and cloud computing, Industry 4.0 is an age in which the world is transformed and adapting to the change is the only solution. Discussing the dark side of the internet where the virtual reality has become more fascinating than the real world, Prof. Sheth spoke about the changes that are taking place including uberization of markets, digital addiction, rise of room-mate nation, blurring of personal and professional lives to name a few. He stressed that there will be a shift from hierarchical to distributed governance and from external to self-governance. He ended the thought- provoking lecture with the final thought – “Successful leaders will be those who embrace coach, and use mentor style leadership in place of the traditional boss style leadership and management.”

Prof Jagdish, conferred with the 11th IILM Distinguished Global Thinker Award in January 2018, is a guiding force behind IILM’s Executive Post Graduate Diploma in Management in “Marketing and Innovation” in collaboration with Academy of Indian Marketing. A leading expert on consumer psychology and marketing with over 50 years of combined experience in teaching and research at the Universities of Southern California, Illinois, Columbia, MIT and Emory amongst others, Prof. Sheth has advised world leaders including Former President Bill Clinton and Prime Minister Modi when he was the Chief Minister of Gujarat, and has also been instrumental in setting up the first Indian Institute of Management (IIM) at Kolkata.

A distinguished speaker at the event was Mr. Arun Kumar Singh, formerly India’s Ambassador to USA, France and Israel. Mr. Singh, with 35 years of experience in Public Policy, specifically foreign policy and global institutions, who is part of the Board of Governors at IILM, has designed a multi-disciplinary programme in “Public Policy and Management” for IILM Executive Post Graduate Diploma in Management. At the event, Mr. Arun Singh delivered an address on Public Policy, Management and International Relations. He said, “All dimensions of development pose huge challenges for public policy resulting in public policy choices getting impacted therefore leading to new thoughts and changes in public policy.” By taking examples of clean air; decent work and economic growth, and good health and well-being, he explained how they affected public policy.

The other eminent speakers were Dr. Bhaskar Chatterjee, Senior Director IILM and part of the Board of Governors of IILM and Mr. Kamal Singh, Executive Director, Global Compact Network India. Dr. Bhaskar Chatterjee and Mr. Kamal Singh, as part of the academic advisory board, have curated IILM’s Executive Post Graduate Diploma in Management on ”Sustainability and Innovation” in collaboration with UN Global Compact. Dr. Bhaskar Chatterjee delivered an address on Global Significance of SDGs and their relevance for India and to Management Education. Dr. Bhaskar Chatteerjee, widely acclaimed as the Father of CSR in India and instrumental in framing and issuing the CSR guidelines for Public Sector Enterprises, spoke about how sustainable development goals are no longer a matter of choice but a necessity for the planet to survive. He said, “One major corrective approach that needs to be taken towards the success of SDGs is stop approaching only governments of countries and reach out to the private players also by creating a more inclusive agenda.”
Mr. Kamal Singh delivered the Vote of Thanks where he said, “Prof Jagdish Sheth’s session was most engaging, stimulating and fascinating and we are really grateful that he accepted the invitation and delivered this extremely motivating lecture.”
Prof. Jagdish Sheth, Dr. Bhaskar Chatterjee, Mr. Arun Singh and Kamal Singh, all the renowned speakers at the event are deeply committed to bridging the gap between work and education and are an integral part of IILM University’s Executive Post Graduate Diploma courses in Management that is offered in three streams – Sustainability and Innovation in collaboration with UN Global Compact, India; Marketing and Innovation in collaboration with Academy of Indian Marketing; and Public Policy and Management.
The lecture was opened to the audience for questions at the end leading to a lively interaction. This event at IIC which highlighted several areas that are pertinent and significant in today’s world, was attended by distinguished guests from Academia and Industry and very well received.