MS&E celebrates its 25th anniversary

The department of Management Science and Engineering (MS&E) celebrated its 25th anniversary with a day of learning, community, and forward thinking. 

The event, held on campus May 2, welcomed alumni of MS&E and its legacy departments—Industrial Engineering, Operations Research, and Engineering-Economic Systems—to celebrate their history and think critically about the future they will design.

A day of learning

The bulk of the day was focused on five academic sessions, each highlighting different areas of focus within the department. Although these areas are distinct in some ways, they cut across intellectual areas of MS&E, and all are being affected by advances in artificial intelligence (AI). Perhaps fittingly, the descriptions of the sessions below were drafted by an AI large language model, then edited for accuracy and clarity. Recordings of the livestreamed video of each session are also included below.

Financial Technology

Professor Jose Blanchet moderated a fireside chat with Mike Kennedy (MS ‘95, BS ‘94), Founder of Zelle; Gustavo Schwenkler (PhD '13), Associate Professor at the Santa Clara University Leavey School of Business; and David Wu (MS '10), Algorithmic Trader at Jump Trading. 

Their discussion focused on the transformative impact of financial technology on the global economy, and addressed the rapid evolution of fintech and its potential to reshape traditional banking and investment practices. The group emphasized the importance of innovation in improving financial access for underserved populations, and highlighted several example startups that bridge this gap.

Technological advancements such as blockchain, artificial intelligence, and mobile payment solutions were highlighted as key drivers of change, which enable more efficient and secure transactions. The discussion also touched on the regulatory challenges that fintech companies face—including lack of concrete regulation—and urged policymakers to strike a balance between fostering innovation and ensuring consumer protection.

AI in Operations Research

Professor Ben Van Roy led a panel discussion about the intersection of artificial intelligence and operations research, with panelists Daniel Russo (PhD '15), Associate Professor at Columbia Business School; Madeleine Udell, Assistant Professor in MS&E; and Zheqing (Bill) Zhu (PhD '23), CEO of Pokee AI.

The panel revealed how AI is revolutionizing decision-making processes across various industries and allowing greater access to optimization. The convergence of these fields promises to enhance efficiency and optimize complex systems, with panelists illustrating the profound implications for supply chain management, logistics, and resource allocation.

Panelists also highlighted innovative AI applications, such as predictive analytics and machine learning algorithms, which are enabling businesses to anticipate challenges and streamline operations in unprecedented ways. However, the group also cautioned that the rapid integration of AI technologies necessitates a careful examination of ethical considerations and potential biases in data-driven decision-making. Emerging models that prioritize transparency and accountability were discussed as essential for fostering trust in AI systems.

Computational Market Design

The day's third session focused on the burgeoning field of computational market design and its potential for addressing real-world societal challenges. Professor Amin Saberi, who co-leads the newly established Stanford Center for Computational Market Design (SCCMD), emphasized the center’s mission to analyze and innovate marketplaces by bridging disciplines including economics, engineering, computer science, and business. 

Then, fellow SCCMD co-leader and Professor Itai Ashlagi led a panel discussion with panelists Vahideh Manshadi (PhD '11, Electrical Engineering), Professor of Operations at Yale School of Management; Ann Miura-Ko (PhD '10), Co-Founding partner at Floodgate and Adjunct Lecturer in MS&E; and Hamid Nazerzadeh (PhD '09), Director of Engineering and Science at Uber's Marketplace. 

The panel highlighted collaborative projects, such as kidney exchanges and school assignment mechanisms, that showcase successful applications of market design principles in sensitive areas involving human welfare.

Panelists shared insights from their various domains where market design concepts have significantly influenced outcomes. They also discussed the impact of AI in shaping user experiences and enhancing data access, while considering ethical implications and privacy concerns surrounding these technologies.

AI in Organizations

Professor Melissa Valentine engaged with Eric Horvitz (PhD ‘90), Microsoft's Chief Scientific Officer, in an insightful dialogue about the transformative impact of AI on organizations. Horvitz traced his journey from graduate student to industry leader, highlighting the interdisciplinary foundations of his education at Stanford that later allowed him to navigate the complexities of AI. 

He emphasized the importance of combining decision sciences with AI, suggesting that understanding human preferences and decision-making remains essential, regardless of how AI technologies evolve.

As AI continues to reshape work dynamics, Horvitz underscored the necessity for organizations to adapt while applying rigorous ethical standards and frameworks. He voiced concerns about the potential misuse of AI, particularly regarding misinformation and the indirect effects on human dignity and agency. 

The Future of Entrepreneurship Education

The final academic session celebrated 25 years of impactful entrepreneurship education at STVP and MS&E. Professor Chuck Eesley, who leads global initiatives for STVP, traced the evolution of entrepreneurship education from its early days, which primarily catered to MBA students, to a more inclusive, interdisciplinary approach integrating fields like computer science and biomedical engineering. This shift, he argued, has enabled students to tackle pressing global challenges like climate change and inequality.

Then, Professor Riitta Katila moderated a fireside chat with Adjunct Professor Steve Blank, a pioneer of the lean startup methodology. Blank emphasized the importance of teaching entrepreneurship as a creative craft rather than merely a career path, suggesting that founders are more akin to artists than scientists. He discussed the need for educational frameworks that equip future entrepreneurs with creativity, resilience, and ethical reasoning to navigate the complexities of modern society, particularly in the era of AI and deep tech.

Turning the discussion toward the future, Professor Eesley highlighted initiatives aimed at empowering marginalized communities and fostering responsible innovation. For example, STVP has been involved in entrepreneurship training for refugees in Uganda.

A celebratory sendoff

The day concluded with a Monte Carlo (Method)-themed Casino Evening celebration, featuring table games, live music from Adjunct Lecturer Dale Nesbitt and his jazz band, food and drink, and community. Attendees tested their stochastic skills using play money, and the top three winners left with gift baskets.

See the full photo album on Flickr