The “Generative AI in Marketing & Management 2024” workshop at TUM Campus Heilbronn, organized by Prof. Jochen Hartmann and Prof. Martin Meißner, brought together 30 leading experts and young scientists to explore AI's role in marketing and business.

3 Key Takeaways:
1) From crafting engaging ads to decoding brand perceptions, AI is reshaping how we connect with consumers. Large Language Models and Generative AI are becoming indispensable tools in the marketer's toolbox, offering novel approaches to traditional challenges. 

2) Generative AI catalyzes innovation across domains. It enables professionals to explore concepts, generate solutions, and push creative boundaries in new ways. This capacity for rapid ideation accelerates innovation in research, product development, and strategic planning.

3) While AI supercharges creativity and decision-making, it's not without risks. It can amplify biases and erode trust if not managed carefully. We need to be careful as we integrate AI into sensitive domains like mental health and financial advice. The key lies in harnessing its power responsibly. 

 "I found the discussions around generative AI in business applications both insightful and forward-thinking”, says Shunyuan Zhang, Assistant Professor at the Harvard Business School. She adds: “One key takeaway was the potential for generative AI to streamline creative processes, reducing costs while maintaining innovation. 
The new contacts and insights gained at the workshop will certainly help advance my research. I see strong potential for future collaborations with TUM, particularly in exploring AI-driven business models and innovative marketing strategies.”

Prof. Oded Netzer, Columbia University: “I found the workshop to be incredibly engaging and insightful. It brought together some of the top researchers conducting cutting-edge work in the field of generative AI. I learned a great deal from the presentations and appreciated the family-style format with a relatively small group of researchers.”