Frankfurt School offers lecture visits (free of charge) to all MBA Alumni after graduation – the Lifelong Learning programme. Recently I joined the course “Applied Digital Transformation”.
Going on a digital journey: Learning about the potential of Artificial Intelligence
At least once a year I go to a place I have never been before in order to experience and learn something new. This summer I decided to go on a digital journey and head back to my Alma Mater, Frankfurt School, for the Lifelong Learning Module Applied Digital Transformation in the current Executive MBA class.
For 14 years I have been working in various client-facing roles on the retail and corporate banking side. In the context of my cross-divisional leadership development program (One Bank Leadership) at Deutsche Bank, I was interested in understanding how technology will transform the banking industry and how it will also have an impact on my client’s businesses. From my perspective, being at the forefront of integrating technological progress is a decisive competitive advantage. A company’s ability to integrate Artificial Intelligence (AI) solutions with client needs and translate them into client solutions will be a unique value driver.
That is why I wanted to get a better understanding of how machine learning really works and how AI will help us to be more efficient and enable us to focus on complex tasks which require the unique skills of a human being: emotional intelligence in the interaction with other humans.
Insights to Digital Transformation
For me, the week was a true eye-opener to see how far technological development has already advanced and that the true challenges go beyond the technology itself. Examples of this are discussions around ethical questions in the space of Autonomous Driving. The responsible handling and value of personal data, as well as questions about who should actually capitalize on personal data were also topics we discussed.
We also looked at different AI solutions, e.g. natural language processing used for ChatBots, and discussed their limitations. We learned how important human supervision is in order to feed the system with accurate data (supervised and reinforcement learning). It is necessary to interact with the machines to make them understand certain patterns and make them apply those patterns in future.
With Deloitte we practiced the concept of SCRUM and discussed why going agile means more than just another way of project management and is the basis for any implementation of AI in business. The biggest challenge for companies is changing the mindset of their employees in order to harmonize their interaction with the tools offered by AI. This is what I took away from our Executive Talk with the Chairman of the Management Board from Börse Stuttgart.
Throughout the Lifelong Learning week we worked on a client case with Conrad Electronics where we could put into practice what we have learned during the week.
My key take-aways
- AI offers a large tool-kit of solutions which may help taking client relationships to another level.
- Proper data is key for a successful integration of AI.
- Take your people with you on your digital journey and share insights with each other!
Thank you to the great professors for sharing your knowledge and passion for AI with us and thank you Frankfurt School for an interactive week in the FS AI Lab I very much enjoyed!