Artificial intelligence: The revolution in controlling at TUM Heilbronn!

Artificial intelligence: The revolution in controlling at TUM Heilbronn!

The Technical University of Munich (TUM) is taking a significant step into the future of controlling by establishing a new professorship for controlling and artificial intelligence (AI). This initiative is supported by the Péter Horváth Foundation with a generous grant of three million euros. The professorship will be located at the TUM Campus Heilbronn and aims to actively shape digital change in the corporate world and develop progressive concepts based on AI. This creates an important link between business administration and computer science.

A central research goal of the professorship is to optimize controlling processes both strategically and organizationally. Particular attention is paid to the use of artificial intelligence to support these processes. The insights gained should not only increase the benefits for corporate management, but also improve aspects such as benchmarking and compliance. Through the professorship, TUM intends to develop new paths and methods that are based on the possibilities of artificial intelligence.

The role of artificial intelligence in controlling

The integration of artificial intelligence into controlling processes is increasingly viewed as indispensable. Artificial intelligence supports companies in various areas such as data analysis, reporting and decision making. These technologies enable rapid analysis of large amounts of data, promote the automation of reporting processes and help create precise forecasts through predictive analytics. Such developments are considered valuable in creating more efficient and accurate controlling practices.

An example of the application of AI in controlling is AI-supported data analysis, which enables companies to efficiently evaluate large amounts of data and make decisions more quickly. Furthermore, documents can be checked and categorized automatically, which significantly increases processing efficiency. Support in creating accurate reports and overcoming language barriers through AI-assisted translations are also key advantages.

The synergy of man and machine

While the possibilities of AI in controlling are considerable, human intelligence remains indispensable. The idea that controllers have to develop in parallel with data scientists is not entirely tenable. Rather, the successful application of AI in controlling requires a deep understanding of the business in order to interpret the analyzes meaningfully. Controllers should seek collaboration with data scientists rather than replacing them; human decision-making remains an essential element supported by data analytics.

Developing a culture of innovation in companies is necessary to successfully implement AI and continuously adapt to new technologies. Within this framework, controllers can advance from mere data managers to strategic advisors, which could fundamentally change their role within the company. Artificial intelligence is seen as a “good servant but bad master” in this context – it is a tool that must be used optimally to generate real value without negating the importance of human expertise.

The TUM Professorship for Controlling and AI represents not only an academic innovation, but also an answer to the challenges that digital transformation brings with it. In close cooperation with practice, the aim is to exploit the opportunities offered by artificial intelligence for corporate management through targeted research and teaching initiatives.

For more information about the new professorship, visit the website Technical University of Munich, while comprehensive analyzes and current trends on the role of AI in controlling appear in the articles PMC and alexloth.com can be read.