In response to emerging technologies, shifting societal attitudes, and evolving ethical dilemmas, companies that embrace continuous learning stand to gain a competitive edge.
The University of Melbourne offers a wide range of professional development courses designed to equip business leaders with the skills and actionable insights they need to navigate their companies’ most pressing challenges.
Diversity, equity and inclusion: it’s just smart business
“We are living in a fast-changing and interconnected world,” says Yu Flora Kuang, a professor of accounting at the University of Melbourne. “In our world, diversity, equity, and inclusion [DEI] is not just the right thing to do or a moral imperative – it’s also a strategic imperative. It’s the smart thing to do.”
Kuang’s research confirms what forward-thinking organisations already recognise: we’re better together. “Organisations that embed DEI into their core operations benefit from a richer diversity of thought, enhanced innovation and improved decision-making,” she says.
Apple’s Project Purple is a prime example of this; cross-collaboration with diverse teams led to the creation of the first iPhone. “The project involved a diverse team of hardware engineers, software engineers and designers working closely together,” Kuang says. “This cross-functional collaboration was instrumental in revolutionising the smartphone industry.”
Beyond internal operations, a commitment to DEI influences brand perception and consumer engagement. “A 2024 study found that brands using diverse and inclusive imagery in their campaigns see higher engagement rates, with 80% of customers more likely to interact with such brands,” Kuang says. Similarly, 83% of gen Z employees consider a company’s commitment to DEI important when choosing an employer.
While organisations may recognise the importance of DEI, the challenge that many face is translating DEI commitments into meaningful action. “What companies deliver is largely different from what they have promised,” Kuang says. “There’s a gap in what they say and what they do … they need to acquire critical knowledge to really understand how to effectively and efficiently implement what they have promised.”
The University of Melbourne’s micro-credentials and short courses aim to address this gap by providing leaders with practical, actionable insights into unconscious bias, inclusive leadership and strategies to build diverse, high-performing teams. The courses are designed for busy professionals, offering flexibility through online and in-person options to ensure leaders can learn and apply new strategies without disrupting their schedules.
Unconscious bias is particularly important to address because it’s embedded in human nature, Kuang says. Our herding nature means we’re drawn to people who look like us, sound like us, think like us and have a similar educational background. Although we may set out with the intention of appreciating and valuing each other’s differences, Kuang says unconscious bias can make it difficult for us to create a truly diverse, inclusive work environment.
Removing human filters from the recruiting process using AI is one way businesses are tackling this challenge, but acquiring relevant knowledge is going to be crucial if they are to create a culture that truly values diversity.
“DEI is a very important measure of business sustainability,” Kuang says. “We are all different and unique in our own way, and we bring different, unique contributions to an organisation – it’s the organisations that can maximise the aggregate contribution that will benefit in the long run.”
The AI revolution: challenges and ethical considerations
The rapid adoption of AI in business brings with it ethical challenges and risks that must be carefully navigated. With AI in such a state of flux, Prof Jeannie Paterson, the director of the University of Melbourne’s Centre for AI and Digital Ethics, says it’s important that business leaders stay on top of AI’s implications.
“Business leaders need to understand the capacities of AI and the importance of using it in a way that’s safe, effective and ethical,” Paterson says.
While generative AI is accelerating productivity, it also introduces new challenges. “AI lacks a fundamental understanding of truth,” Paterson says. AI can perpetuate problematic stereotypes, produce fake content and reflect a limited worldview.
“[Most current AI tools] reflect primarily a US worldview because that’s what [they have] been trained on; they won’t be reflecting, for example, Asia-Pacific perspectives,” she says. “The idea that AI is neutral or in some way telling some ground truth, it’s not, it’s dependent on the choices that are made about data and training.
“Business leaders need to understand those risks so they can actually respond to them, and have governance mechanisms and policies about the way the AI is used so they get the best out of it, while also minimising the risk.”
The environmental costs of AI models are significant and the dampening of creativity and culture is a concern, Paterson says. “The more we use generative AI, the greater the risk that we lose independent voice, because we’re always filtering things through an AI that’s been trained at a particular place at a particular time.
“The concern, and I think it’s a genuine one, is that the more people rely on a particular tool to filter their thoughts and produce their images, the more we lose that individual, creative spark and voice that might be interesting and unique and specific to our region or our communities.”
The role of professional development in business success
Given the complexities surrounding DEI and AI, business leaders must remain agile, informed and proactive. The University of Melbourne’s micro-credentials and short courses can provide a structured way for professionals to stay ahead of the curve. While no business leader is expected to be an AI engineer or a DEI expert, they do need to know enough to ask the right questions, implement the right policies and engage in meaningful discussions, Paterson says.
These courses can help mitigate risks associated with AI. “Some employees will use AI regardless of company policies,” Paterson says. The danger is that they input sensitive data into unsecured AI tools, posing serious privacy and security risks to companies.
By providing professional development opportunities to business leaders, companies can ensure employees are guided to use AI responsibly and in compliance with data protection regulations.
The University of Melbourne also offers tailored training programs that align with industry-specific challenges in a range of sectors, including government, healthcare and sustainability. As Kuang says, one size does not fit all when it comes to professional development, so organisations can work with the university to develop customised programs that address their unique DEI- or AI-related challenges.
With a focus on real-world application, interdisciplinary expertise and flexible learning options, these programs can empower professionals to drive positive change within their organisations.
