University of the Witwatersrand (Wits) Business School head Dr Sibusiso Sibisi has announced his resignation, effective at the end of the year, to pursue a new strategic initiative within the university.

Wits plans on setting up a new artificial intelligence, technology and finance initiative.

Professor Jannie Rossouw will serve as acting head of the business school from January 2020 until the university finds a permanent successor.

“The expansion of the technological era requires businesses to transform their skills, operations and organisation. Wits is increasingly working with South Africa’s enterprises to assist them in this regard. Sibisi is one such person through whom we do this.

“He provides a unique set of skills which bridges both the natural and commercial sciences. He therefore is the ideal person to take forward our initiative to assist South African businesses to transform themselves for the digital era,” said Wits vice-chancellor Professor Adam Habib.

Sibisi says his intention is to form a commercial venture that attracts people with a science, technology, engineering and mathematics (STEM) background, typically at Masters and PhD level.

“I have envisioned for many years to set up such a venture, but mathematical and computational modelling and data analysis seemed rather premature in South Africa. However, things have changed.”

Sibisi added the venture would be strictly commercial from the outset, with an envisaged client base in both private and public sector; it will also be STEM-intensive with a modelling, stimulation and software development focus, while it would have strong relations with academia.

“In my Wits Business School Vision of September 2018, I argued for a STEM-based interdisciplinary focus. I continue to believe that there is a huge opportunity here for the school, drawing upon the deep and diverse expertise within the whole of Wits.”

About 13 years ago, during his term as CEO of the Council for Scientific and Industrial Research, Sibisi set up a Modelling and Digital Science Unit to address these opportunities. “In many respects the thinking was ahead of the curve from a commercial perspective, but things have evolved radically since then.

“Now is the time to act with decisive commercial purpose and global ambition. Graduates with advanced degrees in STEM fields deserve a vision and demonstration of cutting-edge careers in commerce and industry, right here in South Africa,” Sibisi noted.