Rajasthan’s First Virtual Business Lab to open in JK Lakshmipat University

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Jaipur: JK Lakshmipat University (JKLU), in its attempt to introduce multi-disciplinary education and bring innovation to the educational landscape for talented students, has signed a MoU with All India Management Association (AIMA) today. With this collaboration, JKLU becomes the only university in Rajasthan to include Business Simulation Lab (AIMA BizLab) in its portfolio.

The AIMA Virtual Business Laboratory offers experiential learning by bridging the gap between theory and practice. It also accelerates learning and delivers exception return on investment by increasing engagement level. It provides different modes of simulations for student development. The single mode helps the student to learn on their own at individual simulation level by competing against Artificial Intelligence (AI) while workshop mode helps the certified faculty run the simulation program along with the curriculum. It also helps in assessing the students’ performance by taking notes from their consolidated performance report against AI. Students can access the sessions of their college faculty and certified trainers on AIMA BizLab Portal.

Dr. R.L Raina, Vice-Chancellor at JKLU added, “It gives us immense pleasure to bring the one of its kind virtual business lab for the first time in Rajasthan. Our partnership with AIMA BizLab will lay the foundation for the evolution of business education in the state and provide an unparalleled pedagogical experience to management students.

Today, higher education in India no longer operates in the conventional ways as being relevant has become an integral aspect of teaching in the era of digitization. The educational landscape has already started witnessing a paradigm shift across the globe and requires students to have an extra edge to become placement ready. We have identified industry-relevant skills and domains that fit best with the hiring standards present in the country. The new virtual business laboratory is designed for management graduates to offer them hands-on-experience on management concepts and make them industry-ready. BizLab is fuelled by AI technology that responds dynamically to students’ strategy and provides competitive experience.”

The virtual competitors in AIMA BizLab possess Artificial Intelligence. It consists of 10,000+ actual human response mapped to various situations which are used for creating AI bots for better experience. The bots would be able to modify the decision based on participant strategy, making every game completely unique. The course and experiments available on this platform is in tune with the management syllabus across major universities. It enhances students’ learning capabilities and prepares them for best placement opportunities. Besides, these sessions can be accessed on all devices such as laptops, mobile, tablets etc.

“The establishment of the AIMA Biz Lab at JKLU marks a very purposeful milestone for us. Management education requires being able to integrate principles and theories with business realities allowing learners to practice these in near-real-life situations. Learning that cuts through functional silos, exactly as problems rarely come packaged as purely marketing or organizational or Finance problems. We have always aspirated to bring the same experience and advantage to students.

The AIMA biz lab is a strategic step in this direction. AIMA also brings the advantage of being industry and market backed, and also understands the management student capabilities due to their hugely popular MAT assessment for Management entrance. I sincerely believe that we will together make the Lab a tremendous advantage for students of management at JKLU and we also have a unique opportunity, given our respective strengths, to also develop and evolve it as the most effective learning tool for management in times to come.” Said Asheesh Gupta, Pro-Vice Chancellor, JKLU.

JK Lakshmipat University has observed a 100% growth in the number of companies visiting the campus every year. These companies include not only traditional favourites like IBM, TCS, Infosys, JK Group of Companies but also new-age start-ups and companies in exciting areas like robotics, AI, deep learning, analytics, and leading companies in other sectors like Goldman Sachs, HSBC, and S&P.

As a corporate university, JKLU believes in the need to build future talent that can become the driver of economic growth for the country. While most universities continue to focus on quality education, JKLU has taken a conscious decision to not just invest in ensuring quality education but specialized courses, teaching methods, and learning outcomes that prepare the students for the future. This can also be seen with the kind of faculty, international affiliations, and industry partnerships that the university has developed.