Discontinuities in the market create space for disruptive business opportunities. Companies are therefore increasingly interested in proactively identifying future competitive advantages. Researchers Marie Scheuffele, Dr. Niklas Bayrle-Kelso and Prof. Dr. Leo Brecht published their paper on Data-Driven Foresight in Digital Disruption and Transformation Springer Proceedings in Business and Economics 2024.

A data-driven foresight differs from a vision in that its predictions are based on scientific findings on technology, demographics, regulations and much more. A promising approach for companies to proactively identify future competitive advantages is Data-Driven Foresight (DDF). By using different data sources from various perspectives, DDF can derive solid statements about trend-driven developments in the future. 

As technology life cycles accelerate, industrial firms increasingly want to incorporate foresight activities into their Life Cycle Management to foster digital transformation.The researchers asked themselves: How do companies obtain their data for DDF in Life Cycle Management and what alternative data sources are recommended? Using a systematic literature review, they described the current data sources and classified them along the life cycle.

Twenty semi-structured expert interviews with practitioners from different types of companies show valid premises for data selection and for the practical implementation of DDF. Regarding this, a recognizable difference between technology leaders and followers exists, which opens another gap for future research.

The PIRANESI Award 2023 exhibition can be viewed in the foyer of the University of Liechtenstein until March 22. The Piranesi Award presents various projects of different sizes and programs that reflect a successful relationship between modern architecture and its natural, cultural, historical and social context.

The Award was created as part of the Piran Days of Architecture international conference*, and it is presented by the DESSA Gallery, the Coastal Galleries of Piran and the Piranesi International Jury. The award is named after the 18th century Italian artist and architect Giovanni Battista Piranesi, whose family roots are said to be from Piran. It is presented to the best architectural realizations created in the last two years in the territory of Central European countries.

50 architectural realizations and 37 student projects compete for the Piranesi Prize 2023. The winners of the Piranesi Prize, two Piranesi Honorary Mentions and the Piranesi Honorary Mention for students will be selected by an international Piranesi jury, one of the jurors is Alberto Alessi, university lecturer for "Built Heritage & Upcycling" at the Liechtenstein School of Architecture.

Besides practicing architects, part of the exhibition for the Piranesi Award is also an international (since 2008) student exhibition in which 21 European architecture faculties participate. Each faculty can nominate two projects designed in the last two academic years.

* Piran Days of Architecture (PDA) is an international architectural conference initiated by a group of Slovene architects in 1986. The aim of the conference is to evaluate the social architectural situation and to present the most progressive and innovative ideas of contemporary architectural and spatial production which preserve cultural identity and diversity through the understanding and respect for the geographical and cultural context. Many architects have lectured at the conference, including: Amateur Studio, Bernardo Bader, Odile Decq, Enrique Miralles, Yvonne Farrell, Sverre Fehn, Kenneth Frampton, Francis Kéré, András Pálffy, Carme Pinos, Sami Rintala, Armando Ruinelli, Alvaro Siza, Eduardo Souto de Moura, Studio Mumbai, Heinz Tesar, Gino Valle, Peter Zumthor.

Prof. Dr. Michael Hanke, together with Prof. Nicole Branger (University of Münster) and Prof. Alex Weissensteiner (Free University of Bozen-Bolzano), published the paper "The information content of wheat derivatives regarding the Ukrainian war" in the Journal of Futures Markets in February.

Prices on financial markets reflect the expectations of market participants. These expectations can be extracted from the prices using financial mathematical methods.

In the case of the Ukrainian conflict, futures on grain, especially wheat futures, are of particular interest, as both Russia and Ukraine are major global exporters of wheat. In this paper, the authors show how the prices of wheat futures can be used to determine the changing market expectations regarding the likely duration of the conflict over time.

With the conclusion of the UN grain agreement, the information content of wheat futures prices shifted away from market expectations regarding the further course of the war and towards market expectations regarding the durability of the grain agreement. The approach used can easily be adapted for future, similar cases.

Branger, N., Hanke, M., & Weissensteiner, A. (2024). The information content of wheat derivatives regarding the Ukrainian war. Journal of Futures Markets, 44(3), 420-431. (ABDC_2022: A)

Online at https://onlinelibrary.wiley.com/doi/10.1002/fut.22475

On Monday, 19 February 2024, the Certificate Programme in Fiduciary Services at the University of Liechtenstein began once again. The 28 participants highlight the necessity of targeted continuing education measures and the significant role of the fiduciary sector in Liechtenstein.

The continuous influx of students in recent years demonstrates not only the high attractiveness of the programme but also the relevance of fiduciary services in Liechtenstein. As one of the key pillars of the country’s economy, the fiduciary sector holds great importance. Due to the international orientation of the financial centre, sound, cross-border expertise in various legal, economic, tax, and financial advisory areas is indispensable. Programme Director Prof. Dr. Alexandra Butterstein emphasised “that the increasing demands and changing conditions in the fiduciary sector require targeted continuing education in order to continue meeting the highest standards in the future.” She also expressed her pleasure that a special added value for the students is created through close collaboration with the Chamber of Trustees, for which the University of Liechtenstein is very grateful. The Certificate Programme in Fiduciary Services prepares students for the demanding work in fiduciary companies. Subject-matter experts from academia and practice impart the latest developments, providing students with a unique combination of practical knowledge and academic content at the highest level. The 28 students from Liechtenstein, Germany, Austria, and Switzerland acquire fundamental knowledge in the areas of law, taxation, business administration, and asset management and investment advice over the course of two semesters. Upon graduation, they will possess recognised professional qualifications enabling them to provide comprehensive client services in the Liechtenstein fiduciary sector. Completion of the Certificate Programme entitles graduates to enrol in the advanced Diploma Programme in Fiduciary Services, which prepares participants for management positions or independent work as a trustee. The completion of both programmes serves as preparation for the Liechtenstein trustee examination and, for participants without an academic background, constitutes proof of training in accordance with the Liechtenstein Trustee Act of 8 November 2013.

The University of Liechtenstein is pleased to announce the start of the Erasmus+ project "Pathfinder". Since January 2024, Sebastian Moder and Julia Tenschert from the Liechtenstein Business School have been working under the leadership of Prof. Dr. Furtner in cooperation with the LAB University of Applied Sciences in Finland, the University of Dubrovnik in Croatia and the formatio private school in Liechtenstein to anchor the understanding and application of artificial intelligence (AI) in higher education. The project will run until December 2026.

Through the use of strategic guidelines, AI-based tools and tailored learning programs, teachers and students will be equipped with the necessary resources and knowledge to responsibly and effectively integrate AI into the teaching and learning process. The project includes the development of a framework to support teachers, an AI-supported toolkit for lesson planning and a competency-based learning program for students. These tools aim to improve employability, foster innovation and strengthen the resilience of the European education community.

The project is in line with the research strategy of the participating institutions and emphasizes the importance of sustainability and responsibility in the implementation of AI technologies. By investigating the societal impact of AI, the project makes a significant contribution to sustainable development and positions the project partners as pioneers in the field of responsible technological innovation in education.

The partner institutions contribute their respective strengths and expertise to the project. The LAB University of Applied Sciences contributes its experience in the development of innovations and the integration of AI into educational programs. The University of Dubrovnik is contributing its expertise in the development of education and training programs to the project through the Center for Digital Transformation. The formatio private school in Liechtenstein, on the other hand, is focusing on strengthening individual strengths and innovative teaching methods. The University of Liechtenstein is responsible for project management and the strategic development of the project.

The results of this project will not only improve digital readiness and educational practices within the participating institutions, but will also provide valuable insights and resources for the entire European educational community. The participating institutions are convinced that this project will enable a cultural shift to foster innovation and broader access to responsible AI use in higher education.

The Center for Philanthropy at the University of Liechtenstein has launched a new online information service. The portal "Liechtenstein Philanthropy Talks" (philanthropytalks.li/) offers extensive knowledge about charitable commitment and philanthropy. Under the motto "HOLISTIC. MEANINGFUL. EFFECTIVE." it is aimed at philanthropists, volunteers and all those working in the charitable, non-profit sector.

The new platform makes the Center for Philanthropy's in-depth practical and research knowledge accessible to a broad international target group. For example, it offers information on various forms of philanthropic commitment, how to find focal points and how to measure impact. People who want to set up a charitable institution such as a foundation will also find plenty of guidance.
"In view of the variety of possibilities and forms of philanthropic commitment, people who want to set up a foundation are often unsure. It is important for them to first of all be clear about their own motives and goals. With the Philanthropy Talks, we now offer a comprehensive orientation service," says Prof. Dr. Marc Gottschald, Director of the Center for Philanthropy and creator of the portal.
The visually appealing platform https://philanthropytalks.li/, which is enhanced with numerous illustrations, consists of nine "Inspirations" that explain the basics of charitable commitment. Questions are answered such as: What types of involvement are there? How do you find the right cause and the right form of implementation? How do you plan your commitment in an impact-oriented way?

Knowledge and attitude

The second, even more comprehensive area is "Insights". These are intended to help people who are already active in charitable work to further develop themselves and their work and to reflect on their personal attitude: What is the importance of trust and control in charitable work? How do foundations find good partners in order to implement their own concerns as effectively as possible? In addition, trends and developments in the philanthropic sector will be analyzed: What is the significance of Bill and Melinda Gates' Giving Pledge initiative, which has received a lot of media attention? What is behind the concept of venture philanthropy? Critical topics are also covered: For example, an essay on "philanthrocapitalism" discusses the question of how useful it is when, especially in large entrepreneurially managed foundations
economic calculation, efficiency considerations and a focus on key figures are increasingly gaining ground. Critics criticize a reductionist attitude that does not do justice to the complex problems to be solved.
"With the Philanthropy Talks, we want to give philanthropists positive food for thought from research and practice," says Dr. Christian Meyn, lecturer at the Center for Philanthropy and one of the authors of the site. "Above all, however, we want to encourage people to engage in good dialogs and to work effectively for the common good - worldwide and in Liechtenstein."