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Nearly all jobs in finance and management will be touched by AI

The sea-change in artificial intelligence over the last few years resulted from a bet, placed in a couple of university and industrial labs a decade ago, that a sleepy line of research could come to life with a lot of data and a lot of computational resources.

The results have surprised even the most ardent supporters, and the subsequent deployments of working AI systems have by turns captivated and alarmed the public. Both the power and limitations of these systems are difficult to appreciate, which is an obstacle to informed public debate and the shrewd use of these tools in business and government.  

Nearly all jobs in finance and management will be touched by AI, but relatively few will be completely eliminated. Instead, one should think of tasks being replaced by AI, rather than jobs, which will place a premium on people knowing where and how this technology can be deployed. There are also many societal, ethical, and legal issues that arise, and tomorrow’s business leaders must be attuned to the implications of this technology in these areas.

Centre for Human and Machine Intelligence

The Centre for Human and Machine Intelligence, HMI, conducts basic and applied research at the intersection of Artificial Intelligence & Machine Learning, Decision & Social Science, and Finance & Management. Our focus is to develop and advance our understanding of computational systems that augment human capabilities for judgment and decision-making.

The principal aims of the HMI are:

  • To produce and disseminate excellent and original research in Decision Science, Behavioral Science, Machine Learning and Artificial Intelligence, with the aim of advancing our understanding of judgment and decision-making.
  • To become the premier centre in Europe at the intersection of the decision sciences, artificial intelligence and machine learning, and business, connecting theory to practice at the center of European finance.
  • To stimulate and coordinate work worldwide at the intersection of finance, data science, and the decision sciences.
  • To foster collaboration with researchers from adjacent areas, including cognitive science, neuroscience, biology, political science, and philosophy.
  • To contribute to the responsible and ethical development of artificial intelligence in collaborations with both government and corporate initiatives.  

The HMI website will follow soon.

AI in Faculty and Research

Prof. Dr. Gregory Wheeler

Gregory Wheeler is Professor of Theoretical Philosophy and Computer Science at the Frankfurt School of Finance & Management. Gregory’s research interests in theoretical philosophy and computer science center on reasoning under conditions of uncertainty, with a focus on the foundations of probability, statistics, and machine learning. Learn more.

Prof. Dr. Florian Ellsäßer

Florian is Assistant Professor for International Entrepreneurship at the Frankfurt School of Finance & Management. His main interest lies in inference under uncertainty. On the theoretical side his focus has been on research methodology, analyzing the applicability of different philosophical theories such as contrastive explanation and machine learning methods such as Causal Graph Models to management research. Learn more.

Prof. Dr. Peter Roßbach

Peter is Professor of General Business Administration and Business Informatics, with emphasis on Applied Business Informatics and Information Technology. Learn more.

AI Events

Meetup.com | May 15th, 2018 

This is a meetup for everyone interested in artificial intelligence. All skill levels are welcome. We will have several speakers and demos covering a wide range of AI topics. Come and enjoy the networking with other AI experts and enthusiasts!

Learn more.

ProcessLab-Konferenz | 14. Juni 2018

„Von digitalen zu smarten Prozessen: Analytics, Robotics und Artificial Intelligence“

Erfahrungsberichte,  Prototypen und Anwendungsfälle werden sowohl Einblick als auch Anregung für die Anwendung von Mining, Robotics und Artificial Intelligence in Prozessen geben. Nutzen Sie die Konferenz, um neue Entwicklungen und Lösungsansätze im Prozessmanagement zu diskutieren.

Learn more.

AI Summit | June 18th, 2018

The Third Wave of Artificial Intelligence is game changing.

Artificial Intelligence (AI) seems to be everywhere. We experience it at home and on our phones. AI is already delivering real value in business. It‘s being implemented across all industries and business functions creating unprecedented efficiencies in human productivity.

But we will see a Third Wave of AI and that is game changing because it has the potential to automate almost any repetitive manual task. It can both learn from and explain complex statistical patterns and can teach humans what it learns.

Learn more.

AI in Academic Programmes

BSc in Business Administration (Wirtschaftsinformatik)

In seven semesters students will gain profound IT knowledge. Simultaneously they will work on relevant topics within management and economics from our Business informatics degree program. Learn more.

Digital Innovation and Fintech

In seven semesters students will acquire in-depth IT knowledge focused on digital technologies such as app development. At the same time, they will work on relevant topics within management and economics during their studies. Learn more.

Master in Applied Data Science

​The MSc in Applied Data Science is a response to the demand from across different industries for business savvy data scientists with the collaborative skills to match. This 4-Semester programme, designed for students interested in applying computational data science to contemporary business problems, equips students with the technical skills, business domain knowledge, and critical judgment to navigate the modern data ecosystem. Learn more.

AI in Executive Education

“Disruption“ belongs to the most used expressions in connection to the rapidly progressing digitization. Applications such as Blockchain Technology, Big Data, and their growing influence on business processes, Artificial Intelligence and the need to continuously assess its potential and risks, are increasingly prevalent in everyday business life at a growing pace.

With the new Competence Center (CC), Frankfurt School of Finance & Management will prepare professionals and senior managers to shape digital transformation processes in their companies.

Certified Expert in Artificial Intelligence for Business

Artificial intelligence (AI) has enormous disruptive potential, but it requires a change in mind-set and business priorities to be able to live with this potential. The goal of the course is to give an overview about what AI is, what is the current state of this technology and how to make the best use of the business opportunities it can bring. The course focuses on questions and applications of a business leader, and highlights the most important shifts required in leadership mind-set. Learn more.

Certified Expert in Data Science and Artificial Intelligence

The recent wave of innovation in Artificial intelligence (AI) has enormous disruptive potential, but there is a definite shortage of professionals capable of harnessing the power of the newest modeling techniques and bringing AI from the drawing board to real life practice. This course is aiming to give practitioners a solid foundation in data modeling as well as an in depth understanding of recent AI methods and solutions (especially Deep Learning). Learn more.

Seminar „Anwendung der künstlichen Intelligenz im Geschäftsumfeld“

Wie prägt KI unseren Alltag? Welche Herausforderungen birgt die Einführung einer intelligenten Maschine in einer Organisation von Experten? Was sind mögliche Lösungsansätze zur organisationalen Akzeptanz von AI Anwendungen? Wo liegen individuelle Anwendungsmöglichkeiten von AI im jeweiligen Arbeitsumfeld? Erhalten Sie an einem Seminartag durch einen fachlichen Motivationsvortrag mit praktischen Beispielen einen Überblick über das Thema KI. Treten Sie mit Teilnehmern und unserem Experten zum Erfahrungsaustausch in Kontakt und nähern Sie sich an mögliche individuelle Anwendungsfelder in Gruppen an. Learn more.

ProcessLAB

Frankfurt School’s ProcessLab research center focuses on applied research on process management in the finance industry. A team of researchers from the areas of process management, organizational behavior, and information systems addresses various research questions around on how to manage, improve, and innovate business processes in banks, insurance companies, and other firms from the financial services sector. This does also involve the utilization of new digital approaches and technologies, such as process mining/analytics, process robotics, or blockchain.

The ProcessLab does also organize the annual ProcessLab conference, one of the largest German industry events on process management in the financial industry; this year’s conference theme is “From Digital to Smart Processes – Analytics, Robotics, and Artificial Intelligence”.