Indian School of Business Students Win Accenture B-School Challenge 2024

Accenture concluded the eighth edition of its B-School Challenge, focused on the theme of ‘Reinvention in the Age of Gen AI.’ The annual challenge aims to recognise, foster, and empower the next generation of consultants who will help reinvent businesses and drive growth.
Bluesky Associates from the

Indian School of Business

clinched the top prize at the Accenture

B-School Challenge 2024

.

The 1st runners-up were the team Breaking Bad from

IIM Bangalore

followed by the 2nd runners-up, the team Doctors from

FMS Delhi

. A special jury award was presented to the team Elevate from IIM Lucknow
A Two-Month Journey of Innovation
This year’s challenge saw a record number of 11,000 students from 16 top business schools across India, including IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Kozhikode, IIM Indore, IIM Udaipur, Indian School of Business, Faculty of Management Studies, Jamnalal Bajaj Institute of Management Studies, SP Jain Institute of Management and Research, Xavier School of Management (XLRI), Indian Institute of Foreign Trade, Management Development Institute, National Institute of Industrial Engineering, and Tata Institute of Social Sciences. In the two-month-long challenge, students went through four rounds of intensive evaluation.
The first round of the

Accenture B-School Challenge

2024 featured a rapid-fire quiz to test the critical thinking and analytical skills of the participants. This was followed by a round of interactive online simulation where students were required to role-play as Chief Operating Officers (COOs) and make decisions around driving business profitability. Ten teams from each school were shortlisted at the end of the second round. Accenture organised storytelling workshops and industry-specific masterclasses for the selected teams to help them hone their presentation skills and gain deeper industry insights.
In the third round, the students presented solutions for specific business challenges across different industries, including consumer goods & services, banking, energy, mobility, life sciences, communications, and media, among others. The top eight finalist teams were then mentored by Accenture leaders in preparation for the final round, where they presented their

business strategy

to the jury.
Panel Discussion: Reinvention in the Age of Generative AI

The panel discussion by the jury members focused on how organizations are adapting and reinventing themselves in the age of Generative AI. Experts delved into the evolving landscape of AI, its potential to reshape industries, and the challenges and opportunities it presents for talent, businesses and leaders alike. Topics ranged from AI-driven innovation to ethical considerations and the future of work.
The panel featured senior leaders from the industry, including:

During the event, Prithvijit Lead Data and AI, Accenture highlighted the profound impact of generative AI, stating, “With the rise of generative AI, three major trends have emerged over the past few years. First, companies are increasingly recognizing the vast amount of available data and its potential to create a competitive edge. Second, the technology behind generative AI is advancing rapidly, unlocking new possibilities. Finally, in just the past year and a half, generative AI has been democratized—becoming widely accessible and even a household term. CEOs across industries are now urging their teams to explore how generative AI can be adopted and leveraged for strategic growth.”
The discussion emphasized the importance of building a strong digital infrastructure, with Suresh Nanduru, India lead, Strategy and Consulting Global Network, Accenture stating, “Organizations undoubtedly bear significant responsibilities. When we collaborate with clients, we frequently observe many of them having dedicated responsible AI teams that ensure all necessary quality checks are in place before proceeding with AI-related work. At Accenture, we’ve introduced a new role, the Chief Responsible AI Officer, to oversee these efforts. Now, for every AI project we undertake, there are clear guidelines and regulations we must follow. This process also extends to evaluating who we partner with and the tools we use, such as Large Language Models (LLMs). We assess whether we’ve previously worked with these models, identify potential biases, and ensure they pass our internal checks. While the responsibility currently lies with organizations until regulations are fully enforced, the good news is that regulation is on its way. In fact, European Union is already leading the way with EU AI act ”
Furthermore, Mathew Cyriac, Chairman and Whole-time Director, Florintree Advisors reflected on the impact of generative AI on the workforce, stating, “There are two categories – knowledge workers and routine operations workforce. With the richness and context that search provides today, coupled with the ability to extract knowledge from vast amounts of data, based on the current situation and the organization’s knowledge, Gen AI is a perfect tool”.
Showcasing Talent: The Final Presentations
Following the panel discussion, the top eight teams from various B-Schools presented their strategies to a distinguished jury. The presentations reflected the participants’ deep understanding of industry challenges and their ability to craft innovative solutions using Generative AI.

Expert Jury Evaluation
An expert jury evaluated the finalists based on quality of presentation, the teams’ ability to convey innovative solutions, address business challenges, and leverage AI technologies, ultimately determining the winners.
Pre-Placement Offers and Cash Prizes
In recognition of their exceptional performance, the top three teams from each of the 16 participating business schools earned pre-placement interview opportunities with Accenture. Additionally, the top three winning teams were awarded cash prizes worth INR 10 lakh.
Looking Ahead
The Accenture B-School Challenge 2024 has once again highlighted the remarkable talent emerging from India’s top business schools. As these students embark on their careers, the lessons from this challenge will help with a deeper understanding and view of the strategy and consulting segment, with AI at the forefront of business reinvention.