FRANKFURT SCHOOL

BLOG

AI for Business: In good times and in bad
Executive Education / 6 April, 2020
  • Share

  • 1456

  • 0

  • Print
Marketing & Sales Koordinatorin
Michelle Neumann is Marketing & Sales Coordinator Professional & Executive Education at Frankfurt School.

To Author's Page

More Blog Posts
Technology that saves lives? AI in the fight against coronavirus
The Need for Domain Knowledge in Data Science Programs
Nowcasting Inflation: Machine Learning to resolve the classification challenge?

Companies worldwide are having very difficult times right now. Due to the spread of the coronavirus and the associated conditions (closure of shops etc), they are faced with a huge, existential challenge. Income suddenly disappears, expenses such as salaries and rent continue and nobody can say exactly how long this will last. Start-ups in particular are among the first to be hit by such a liquidity crisis, as they often fall through the grid of government support.

However, even during this global crisis, there are those companies that can use the event as an opportunity for themselves. We are talking mainly about products and ideas related to digitalisation.

Digitalisation, home office, video conferences

Anyone who has already dealt with the digital transformation and has pushed the technology forward in their company will now find themselves in an almost comfortable situation. The technical equipment of the employees should be available so that a main part can go into home office to continue working without any problems. Collaboration Tools and new working methods and processes are deployed and actively used. If you do not identify yourself with these actions, you will need an upgrade now. Innovative companies who offer solutions to those problems are in great demand – even courageous start-ups find their way!

The portal Munich Startup published an article about start-ups with digitalisation solutions. In it they presented some young companies and their promising ideas. One of them is H.U.H. Corporate, who developed an AI learning solution for in-company training. The platform enables learners to chat daily with AI-controlled tutors. The mobile application also sends them personalized learning content. Furthermore, the algorithm adapts the learning goals individually to the characteristics of the user.

The process of hiring new employees also currently suffers noticeably from the ban on contact. This is where “Retorio” could help, as the software enables recruiting through Artificial Intelligence. It analyzes applicant videos based on scientific knowledge from psychology and organizational research. Even short application videos allow Retorio to recognize the communication behavior and the special characteristics of a person and afterwards it can compare this with the desired job profiles. In this way, companies can identify talent more effectively and reliably. Currently, Retorio offers the use of the software for two months free of charge to help companies maintain their recruiting processes.

Using Artificial Intelligence

The above examples show: Anyone who relies on Artificial Intelligence and digitalisation is rarely mistaken these days. In order give a brief insight into how awareness of the economic and business aspects must change if we want to keep up with this technology, we invite you to an information session. The sessions motto is “Go for AI!” and it will take place online on April 15, 2020. It is free of charge to all participants.