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FutureCrafting: Leveraging AI and Prompt Engineering for Strategic Scenario Planning
Seminar Master BWL/Intercultural Business Studies in cooperation with the EFCA Future Trends Committee.
Backround
In an era of rapid technological advances and geopolitical shifts, the ability to navigate through turbulent times is crucial for businesses. Scenario planning stands out as a key strategic planning tool, allowing firms to prepare for various future possibilities, to identify potential risks and opportunities, and to develop flexible strategies. This approach is essential for maintaining sustainability and competitive advantage in a volatile environment.
Decision makers within the European engineering consulting sector are confronted with a unique array of challenges and opportunities, stemming from digital transformation, regulatory shifts, and the imperative for sustainability. At this pivotal moment, the capacity of these leaders to steer their firms through adaptation and evolution is critical. Adopting AI-supported scenario planning could mark a transformative shift, empowering these organizations to navigate changes with greater agility, effectively manage risks, and capitalize on emerging opportunities. For decision makers, the strategic integration of AI and prompt engineering into scenario planning emerges as a key driver for resilience, growth, and innovation, ensuring their firms are well-positioned for an ever-evolving industry landscape.
Seminar objektives
The seminar is open to 20 master students, who will be split into four groups (4-5 participants per group).
We will explore the integration of Artificial Intelligence (AI), particularly Generative Pre-trained Transformer (GPT) Large Language Models (LLMs), into scenario planning within the European Consulting Engineering industry. Amid digital transformation, regulatory shifts, and sustainability demands, students should explore how decision-makers can leverage prompt engineering for GPT LLMs to focus on the three core elements of scenario planning 1) build scenario frameworks, 2) explore scenario implications and 3) develop strategic responses:
1. Building Scenario Frameworks
Groups should identify and articulate the pivotal uncertainties and change drivers that could significantly influence the European Consulting Engineering industry. Groups will produce a presentation detailing the rationale behind the prompts they've developed, the resulting trends, critical uncertainties, and an impact uncertainty grid. They will discuss their scenario framework with an industry expert and document any adjustments they have made to their original prompts, trends, and critical uncertainties.
2. Develop Scenarios and Explore Implications
Based on the agreed upon impact uncertainty grid with the industry expert, groups are expected to develop four distinct scenarios using prompt engineering. Groups are expected to analyze the generated scenarios and prepare a brief presentation outlining the potential implications, focusing on market dynamics, consumer behavior and competitive environment amongst other aspects. These scenarios and implications will be presented and discussed with the industry experts.
3. Develop Strategic Responses
Groups are expected to use prompt engineering to develop comprehensive strategies and responses tailored for the industry expert's firm, enabling it to navigate the uncertainties, challenges, and opportunities highlighted by the four scenarios. They will present their strategic responses and the rationale behind each decision and consider factors such as feasibility, risk and potential impact. The groups should also reflect on the adjustments of the prompts they made and present their learnings on how prompt engineering can influence decision makers in scenario planning.