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Stephen A. Schwarzman
BOSTON—Harvard Business School (HBS) announced today a $5 million gift from alumnus 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 programming that explore the implications of artificial intelligence (AI) on industries, business, and markets. The Schwarzman Research Fund will spur and extend the efforts of HBS faculty members across a range of disciplines who are researching and writing case studies on the use of AI.
The impact of AI is already being felt in the workplace today, and in the future it could disrupt almost every industry. AI also has the potential to 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. The Schwarzman Research Fund will sponsor case studies across many of these considerations. Topics covered 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,” said Harvard Business School Dean Nitin Nohria. “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 added, “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.”
Cases and other research materials created by HBS faculty members will be used across the School’s MBA and Executive Education programs, as well as in HBX, the School’s on-line educational platform. Case studies will be distributed globally through Harvard Business Publishing.
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