CCS 2024 in the Metaverse – How Artificial Intelligence (AI) is shaping the future of controlling

CCS Controlling Competence Spaces 2024 took place from November 12 to 14 – and in a completely new dimension: the Metaverse! Numerous presentations and interactive sessions made the virtual conference an exciting experience full of practical insights and valuable learnings. Here are the most important insights that controllers, companies and interested parties can take away with them:

🔍 1 AI as an efficiency driver

Generative AI (GenAI) was highlighted as a key factor for increasing efficiency and innovation. Whether Siemens with predictive maintenance or General Motors in the design of components: AI enables solutions to complex challenges. Efficiency gains of up to 30% in production costs and an optimized use of materials by up to 40% impressively demonstrated what is already possible today.

💡 2. added value through personalized analyses and strategic decisions

AI can significantly improve the quality of decisions. The investment bank Morgan Stanley uses AI to personalize financial advice and thus increase customer loyalty. By adopting a data-based approach, companies can make informed, agile decisions while saving time and resources. But be careful: Data quality remains the be-all and end-all to guarantee reliable analyses and reports.

⚙️ 3. mastering challenges in the cultural and security sector

Cultural change is essential in order to successfully integrate AI solutions. This was illustrated by a humorous example from the world of “Lord of the Rings”: Sauron failed because he lacked strategy and team diversity. This tongue-in-cheek comparison made it clear that interdisciplinary collaboration and continuous training are key to the success of digital transformation. The focus was also on topics such as data protection and IT security, as this is the only way to strengthen the trust of employees and customers in AI.

📊 4. value-oriented corporate management with ChatGPT

An application example from the automotive supplier industry illustrated how ChatGPT can support corporate value management. Using a three-stage prompting process, the AI helped to identify value-creating measures and calculate specific savings potential. This type of AI support gives controllers a new role as strategic partners and business partners for managers.

🌍 5 Sustainability as a strategic goal

Sustainable corporate management was another key topic. AI-supported approaches for carbon accounting and risk management, as presented by AXA and the Fehrmann Group, demonstrated how companies can better monitor their emissions and act sustainably. Sustainability goals can be better achieved through data-driven insights – a development that will also help with regulatory requirements.

🔍6 Conclusion:

CCS 2024 has shown that AI in controlling has long been more than just a trend – it is an indispensable tool that is fundamentally changing the industry. From strategic decisions and efficiency gains to sustainable transformation: AI and digital skills will be decisive for tomorrow’s competitiveness. And: We are only at the beginning!

🎤7 The new event format:

The 4th CCS Controlling Competence Spaces was a complete success – with a unique Metaverse format that took knowledge and interaction to a new level. At the “Beaches” – not beach bars, but virtual hotspots for specialist knowledge – there were exciting presentations and lightning-fast session changes that were almost reminiscent of zapping on TV, only without advertising and with all the more insights. 3.5 hours of intensive knowledge transfer kept the participants attentive and provided space to absorb the nuances of the topics. Notes, screenshots and video recordings were diligently taken to capture what was heard. Unfortunately, some of those interested had to join the waiting list, as the response was huge and the virtual places were highly coveted. On the first day, 366 participants caused “capacity problems” and somewhat “choppy” technology, but this was quickly resolved.

Looking back, CCS 2024 was not only a platform for innovative controlling topics, but also a test of the participants’ flexibility and commitment. The Metaverse format allowed for a new way of interacting – fluid switching between sessions, a sense of presence and the freedom to dynamically follow one’s own interests. Despite the digital environment, the concentration was high and the enthusiasm palpable; even the technical challenges that the Metaverse sometimes entails were mastered with humor and patience. The huge turnout and the positive feedback show that the concept worked and we are looking forward to the next CCS on 11-13.11.2025.

The International Association of Controllers has taken a big risk with this event, a terrific organizing team (Claudia Maron, Prof. Dr. Björn Baltzer, Sophie Dähn, Jasmin Engel, Gabriele Heller, Hilal Öntürk, Carmen Zillmer, Christian Bramkamp, Brigitte Dienstl-Arnegger, Miriam Schönrock) and sophisticated risk management made this event a success. The participants felt the same way.