Stephen A. Schwarzman, Blackstone Chairman, CEO, and Co-founder
Harvard Business School (HBS) recently announced receipt of a gift of $5 million from Stephen A. Schwarzman (MBA 1972), Chairman, CEO, and Co-founder of Blackstone, a multinational private equity alternative asset management and financial services firm, to support the development of case studies and other programs exploring the implications of artificial intelligence (AI) on business, industries, and markets.
The Schwarzman Research Fund will expand the work HBS faculty members across disciplines are doing in researching and writing case studies on the use of AI. Topics may include the impact of AI on innovation frameworks, new market creation, operating model design, organizational structures, and worker productivity, as well as the long-term policy and ethical considerations related to AI.
AI is already affecting workplaces and could potentially disrupt almost every industry. HBS Dean Nitin Nohria says, “AI has profound implications for the future of work and for society more broadly. 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.”
Schwarzman notes, “Across Blackstone’s diverse portfolio, I have seen firsthand the impact that rapid technological change has on businesses and industries. The disruptive implications and opportunities surrounding AI are far-reaching. Executives need to understand how to anticipate, act on, and manage these changes. I am hopeful that through these case studies – hallmarks of the HBS experience that have helped train a century of business leaders – we can better prepare the next generation to help shape the application of AI in an ethical and accountable way that benefits the public interest.”
For more information on HBS case studies, visit their Web site.
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