Centre of Expertise Applied Artificial Intelligence

Centre for Financial Innovation

Faculty of Business and Economics

If there is one area of application where AI has a future, it is in finance, controlling and accounting. Professionals in these fields are almost exclusively involved in developing and enriching data.

The past two decades have seen tremendous growth in the size of data files, the processing speed of computers and the multitude of information systems and web applications. A large number of user-friendly and fast data mining, process mining, IT auditing, data analytics and blockchain tools have also become available.

Nevertheless, the Centre for Financial Innovation sees that these technological developments in the field of ICT, digitisation and data analytics are currently only used to a limited extent in the professional field of finance, controlling and accounting. This is partly due to the extensive fragmentation in the field. In addition, there is too little knowledge of the possibilities of application, while the training programmes of universities of applied sciences and research universities are often insufficiently geared to the application of the above technologies in their graduates’ professional practice.

The Centre for Financial Innovation is going to change this. Among other things, the lab focuses on the optimal application and adoption of AI in the professional field of Finance & Accounting. For example, Artificial Intelligence technology can help to improve digital fraud detection.

Want to find out what the Centre for Financial Innovation can mean for you? Are you looking for a thesis assignment, minor or internship? Or would your business/organisation like to work with the lab? Then contact: