AI Business Strategy

During the first lectures, the students will get a basic introduction to AI (focus on machine learning) and strategy fundamentals. Besides, they are guided through each step of developing an AI-driven business strategy (initiation, formulation, and implementation). Afterwards, during the project group work, the team collects data to describe an AI business strategy of a real-world firm (i.e., conducting a case study). For this, they will search for adequate literature but also approach a self-selected company to organize interviews, analyze firm documents and develop/apply appropriate AI business strategy concepts. The entire project is built on frequent interaction, discussion and feedback for improving personal, professional, and academic skills as well as helping students coming-up with impactful results and learnings.

Participants will gain practical fundamentals of AI and strategy that help better navigate in today's AI driven business environments. They will understand AI-oriented business strategies and how they can be initiated, formulated, and implemented. Based on that, they practically learn how real- world companies strategically apply AI (impactful use cases) for gaining competitive advantage in their industries. On top of that, students will improve their project management and teamwork skills, as they are required to elaborate a complex project topic in teams. They will also create basic skills of academic writing and literature search as well as strengthen their communication and presentation skills.

Course Procedure Each student will be allocated to a group of 3-4 people. Each group will elaborate an AI business strategy of a real-world firm (case study approach, including interviews). Groups can choose case companies on their own e.g., based on topic fit and their personal connections. However, each group aligns with the supervisor. The examination consists of three parts: 1) A project plan about how the students intend to work together and how they elaborate the topic (worth 20% of the grade) 2) A 20 pages group seminar paper (worth 40% of the grade) 3) A 20 minute group presentation using MS PowerPoint (worth 40% grade) This procedure assists students to strengthen their AI and strategy knowledge, academic writing, presentation and project management skills.

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The seminar is planned to take place on site. First, there will be basic lectures dealing with AI, strategy/strategizing, and AI-oriented business strategies. Then, the students will be allocated to groups and start to work on describing an AI business strategy of a real-world firm. Over the project, the students have the chance to present their current results to receive feedback in mid- term lecture sessions. At the end, they will present their final results to the class and will submit a corresponding academically-written seminar paper.