Earlier this week, Harvard Business School (HBS) announced it has received a substantial gift to help fund case studies on the uses and effect of Artificial Intelligence (AI) on the business landscape.
HBS alumnus Stephen Schwarzman, chairman and CEO of global private equity firm The Blackstone Group, donated $5 million to support the development of case studies and other programming that explore the implications of AI on industries, business, and markets.
In the not-too-distant future, AI could disrupt almost every industry. Potentially, it could create entirely new markets and business models, driving the need for new skills in the workforce. Additionally, AI raises organizational design, policy, and ethical considerations that future leaders must be prepared to navigate.
“Across Blackstone’s diverse portfolio, I have seen firsthand the impact that rapid technological change has on businesses and industries,” says Schwarzman, adding, “The disruptive implications and opportunities surrounding AI are far-reaching. Executives need to understand how to anticipate, act on, and manage these changes.”
HBS Explores AI’s Implications on the Business Landscape
The Schwarzman Research Fund will spur and extend the efforts of Harvard Business School faculty members across a range of disciplines who research and write case studies on the use of AI.
Especially relevant topics might include the impact of AI on new market creation, organizational structures, operating model design, innovation frameworks, worker productivity, and importantly, the long-term policy and ethical considerations related to AI.
“AI has profound implications for the future of work and for society more broadly,” says Harvard Business School Dean Nitin Nohria.
Consequently, the dean says, “We believe it is imperative to provide our students with opportunities to explore how these changes will affect the role of managers. Steve’s generous gift will accelerate faculty research in this area, advancing understanding and exposing business leaders around the world to this increasingly important topic.”
HBS faculty members will use these new cases and other research materials across the school’s MBA and Executive Education programs, as well as in HBX, the school’s on-line educational platform. Also, Harvard Business Publishing will distribute the case studies globally.
To learn more about Schwarzman and his generous gift, please visit The Harvard Crimson.