Value Creation Radar: AI-supported foresight for recognizing signals relevant to value creation

On April 12, 2024, the second meeting of the scientific advisory board of the joint project “Value Creation Radar” took place in Leipzig. The advisory board is made up of renowned experts from science and industry. The meeting was attended by project managers from all consortium partners and representatives of the PTKA Projektträger Karlsruhe. The focus stood on taking stock of the project and discussing current issues.

The “Value Creation Radar” project benefits from the interdisciplinary composition of the advisory board, which incorporates expert knowledge from the fields of economics, sociology, AI research, businesses and associations. The external advisory board members support the project in an advisory capacity throughout its entire duration and come together once a year for an in-depth exchange.

In addition to welcoming new project members and a new member to the advisory board, the second meeting provided an opportunity to review the progress and outlook of the project. The project consortium presented the current status of the “Value Creation Radar” in a deep dive. Titled “Value creation dynamics and weak signals – limits and potential of AI in foresight”, various methods and approaches were presented and discussed in depth.

In subsequent workshops, the advisory board members explored the topics of AI-supported tool development of the “radar tool” and qualitative methods in the horizon scanning process in small groups. These discussions led to in-depth debates in which challenges were addressed, possible solutions were discussed and promising approaches for further action were found. A subsequent get-together provided space for open and collaborative exchange across disciplines.

The project consortium would like to thank the participants for their valuable input, which will help drive the project forward. The next advisory board meeting will take place in spring 2025 and will once again provide an opportunity for stocktaking and enriching discussions.

The “Value Creation Radar” is a BMBF-funded joint project involving Fraunhofer IMW, Helmut Schmidt University, the Laboratorium Fertigungstechnik (LaFT) in Hamburg and the Institut für Sozialwissenschaftliche Forschung e. V. in Munich. The aim of the project is to develop methods for data-supported and expert-led foresight.