Artificial Intelligence at the Frankfurt School: Why Now?

Gregory Wheeler

The sea-change in artificial intelligence over the last few years resulted from a bet, placed in a couple of university and industrial labs a decade ago, that a sleepy line of research could come to life with a lot of data and a lot of computational resources.  The results have surprised even the most ardent supporters, and the subsequent deployments of working AI systems have by turns captivated and alarmed the public.  Both the power and limitations of these systems are difficult to appreciate, which is an obstacle to informed public debate and the shrewd use of these tools in business and government.

Nearly all jobs in finance and management will be touched by AI, but relatively few will be completely eliminated.  Instead, one should think of tasks being replaced by AI, rather than jobs, which will place a premium on people knowing where and how this technology can be deployed.  There are also many societal, ethical, and legal issues that arise, and tomorrow’s business leaders must be attuned to the implications of this technology in these areas.

The principal aims of the HMI are

  • To produce and disseminate excellent and original research in Decision Science, Behavioral Science, Machine Learning and Artificial Intelligence, with the aim of advancing our understanding of judgment and decision-making.
  • To become the premier center in Europe at the intersection of the decision sciences, artificial intelligence and machine learning, and business, connecting theory to practice at the center of European finance.
  • To stimulate and coordinate work worldwide at the intersection of finance, data science, and the decision sciences.
  • To foster collaboration with researchers from adjacent areas, including cognitive science, neuroscience, biology, political science, and philosophy.
  • To contribute to the responsible and ethical development of artificial intelligence in collaborations with both government and corporate initiatives.

Advisory Board

Meet some of the members of the HMI Advisory Board

Gregory Wheeler

Frankfurt School of Finance & Management

Head of Computational Science & Philosophy Department

Professor of Philosophy and Computer Science


Jeff Helzner

American International Group (AIG)

Head of Behavioral Sciences


Ralph Hertwig

Max Planck Institute for Human Development

Director of the Center for Adaptive Rationality (ARC)

Honorary Professor of Psychology, Humboldt University


Richard Scheines

Carnegie Mellon University

Dean of Dietrich College of Humanities and Social Sciences

Professor of Philosophy

Professor of Machine Learning

Professor of Human-Computer Interaction


Moshe Vardi

Rice University

Director of the Ken Kennedy Institute for Information Technology

Karen Ostrum George Distinguished Service Professor in Computational Engineering


Gunjan Bhardwaj

Innoplexus AG

CEO at Innoplexus AG