They realised that the traditional theoretical model of isolated learning was increasingly out of sync with the changing needs of contemporary business, states Dr Deepak Srivastava, Director of IIM Ranchi. Their students had to build capabilities that go beyond what's in the books – they must work together with new technologies to create business solutions that address real-world issues, he added.

The WAI strategy aims at sending out graduates who are fully industry-ready. Conventional assessment techniques, though helpful for examining theoretical understanding, often cannot measure students' capabilities to navigate complex, technologically sophisticated business environments the institute's official news release says.

In addition, IIM Ranchi has revised its attendance policy from compulsory attendance to one that is flexible and positive. Students will be rewarded for attending but will also have the flexibility to seek other skill development opportunities.

They're setting a stage for students to own their learning process, explains Dean of Academics Prof. Tanusree Dutta. This calls for a balance between liberty and responsibility – students have greater liberty in how they engage with content but they're also held to greater accountability in expressing practical abilities added Dutta.

By engaging students in the use of AI systems to address real-world business issues the testing process intends to become an experiential learning platform for business skills. As per the IIM the students will be taught to select relevant AI tools, learn their limitations, converse meaningfully with AI tools and merge AI-driven insights with human judgement.

Despite such innovative mid-term examination reforms IIM Ranchi still retains the conventional hall-tests for end-of-term assessment. This hybrid approach allows students to sharpen their core analytical and reasoning faculties at the same time as they pick up real-world technology skills.

We are not ignoring the strengths of traditional evaluation systems, stated Prof. Gaurav Manohar Marathe the chairperson of the Student Engagement and Development Committee (SEDC). Instead they are developing an inclusive assessment ecosystem that values both core academic learning and the ability to use that learning in actual situations.