Joint event of the "Houses of": Developing the Future with Artificial Intelligence.

Scientists from the House of Finance and the other "Houses of" discussed the opportunities and risks of artificial intelligence with Kristina Sinemus, Hesse’s minister for digital policy


On the initiative of the state of Hesse’s Minister for Digital Strategy and Development, Prof. Dr. Kristina Sinemus, representatives of the "Houses of" came together for the first time on May 15, 2023 for a joint event "Artificial intelligence in Hesse's key industries" to talk about AI and its relevance for their respective industries. The event was also held in respect of the fact that three innovation fields mentioned in last year’s Hessen’s AI Future Agenda – health, mobility and finance - have significant interfaces with the "Houses of".
The goal was to promote intra-regional networking of institutions and players from the fields of business, science and politics, as well as to encourage an overall discussion on how to define recommendations for action in the respective key areas.

Hesse’s Minister of Economics, Tarek Al-Wazir, welcomed the participants with a keynote speech on the role of the "Houses of" which, he said, were designed as a "strategic approach to strengthen Hesse's innovative capacity. All of them have had one thing in common from the outset: their projects are always anchored in business and science.“ He emphasized that the principle is paying off and is helping to raise Hesse’s profile further as a business location."
"Artificial intelligence technologies have the potential to change and also improve our lives in many ways. For Hesse, we want to further exploit these opportunities and take a leading role in the responsible further development and use of AI technologies," said Tarek Al-Wazir.

In her opening speech, Digital Minister Prof. Dr. Kristina Sinemus stated that "AI made in Hesse" is being developed as a trademark of the state of Hesse. The AI Center hessian.AI and the Center for Responsible Digitalization ZEVEDI have already sustainably strengthened the Hessian AI ecosystem and two further initiatives were recently presented that are set to become important elements of "AI made in Hessen": the AI Innovation Lab and the AI Quality & Testing Hub. In his presentation, Prof. Dr. Peter Buxmann (Technische Universität Darmstadt) addressed the opportunities and the risks of the latest achievements in the field of artificial intelligence (AI). He gave a brief overview of application scenarios and, in particular, the opportunities and limitations of generative AI. He added that he is certain, "ChatGPT and Co are as revolutionary as the invention of the iPhone".

From the perspective of the House of Finance, Prof. Dr. Rainer Klump, Executive Director, pointed out that the financial markets are pioneers in the use of "artificial intelligence". "That is why the researchers at the Frankfurt House of Finance not only study the consequences of AI applications for financial stability and consumer protection. But they also provide stimuli for the welfare-promoting use of AI in close dialog with policymakers and practitioners - not least in the fight against money laundering or the financing of a "green transformation".”