Andy Witt has been Professor of Business Informatics with a focus on digitalization at the Hamburg School of Business Administration since the beginning of September 2023. Yesterday, he gave his inaugural lecture on artificial intelligence in front of numerous guests from business, industry and the university. The wave researcher and big data analyst used illustrative examples to show how AI can be used and applied effectively in teaching, research and business.
Using the example of ChatGPT, one of the most widely used AI applications at the moment, Andy Witt demonstrated the opportunities and risks, particularly for teaching and research, and how to deal with them. As a pure word statistic that is not content-based and does not know any current research results and content, ChatGPT is only of limited use for science and studies. However, if you know how it works, it is a very useful tool.
AI is already making life much easier for industry and business, allowing them to work efficiently and optimize products. Using a prototype he developed, Professor Witt demonstrated how AI can be used to automatically generate a cost and environmental analysis. Cost and CO2 analyses are scaled from existing data and product analyses, using inductive statistics and the concept of machine learning to train decision trees, regression analyses and neural networks, among other things.
"We are in the midst of an industrial revolution," Professor Witt concluded at the end of his presentation. Every change offers many opportunities but also challenges, so he appealed to his audience to get to grips with AI and rise to the challenge. Because in the long term, Professor Witt hopes that the advantages will outweigh the disadvantages.