Business Simulations and Generative Artificial Intelligence: Synergy for Better Understanding and Decision-making

Abstract

Business simulations have transformed business education. Generative artificial intelligence (GAI) has taken business decision-making and business education to new levels. Combining business simulations and GAI has led to significant new pedagogical synergies. The number of business factors considered and explored can quickly increase. The purpose of this paper is to explore the ways faculty can coach simulation participants in prompting GAI and discerning how to apply the results to specific decision-making contexts. GAI rapidly equips faculty to embrace each teachable moment with simulation and real-world applications. The paper contains several examples of prompts applied in the context of the Income|Outcome (ASI) business simulation.