3/13/26 7:00 AM - Lesezeit

On the Path to the Overman

Robert Karas

Chief Investment Officer, Partner

“Man is something that shall be overcome.” So speaks the narrator Zarathustra in the most famous work of Friedrich Nietzsche, Thus Spoke Zarathustra. After the “death of God,” humanity looks forward to the possibility of overcoming itself.

Is artificial intelligence a digital distortion of this Overman? Every day we hear which tasks it can take over and how it surpasses us in speed and data processing.

Nietzsche, however, did not describe a technological program of evolution. The Overman (“Übermensch”) is not the product of progress, but a demand placed on each of us as individuals: to create new values, to take responsibility, and to shape ourselves.

Performance alone is not a standard in Nietzsche’s sense. The Overman sets his own standards rather than merely optimizing within existing patterns.

Human beings are shaped by suffering, decisions, responsibility, and tragedy. AI processes data, models probabilities, and generates scenarios. It bears no risk, has no fate of its own, and does not wrestle with meaning.

Humanity as Bridge

If, for Nietzsche, the human being is the bridge, then AI at least changes the conditions under which this self-overcoming takes place.

It confronts us with the question of what remains distinctly human when analysis, pattern recognition, and forecasting become increasingly automated.

This is especially evident in investing. AI can analyze vast amounts of data in seconds, identify historical parallels, and simulate scenarios – for example, in times of geopolitical tensions involving Iran.

But markets price expectations. No model knows the future or can say with certainty which assumptions are already reflected in current prices.

As investors, we remain accountable. Judgment, humility, and experience – especially painful experience – shape our development. A drawdown in the portfolio reminds us that responsibility cannot be delegated.

Self-overcoming remains a human task.
 

Disclaimer: This is a marketing communication. Investment in financial instruments is subject to market risks. Past performance is not indicative of future returns. Forecasts are not reliable indicators of future results. The tax treatment depends on the personal circumstances of the respective client and may be subject to future changes. Bank Gutmann AG expressly points out that this document is intended exclusively for personal use and for information purposes only. It may not be published, reproduced or passed on without the consent of Bank Gutmann AG. The content of this document is not based on the individual needs of individual investors (desired return, tax situation, risk tolerance, etc.), but is of a general nature. This document is neither an offer nor an invitation to make an offer to buy or sell securities. The information required for disclosure pursuant to Section 25 of the Austrian Media Act can be found at the following web address:  https://www.gutmann.at/en/about-gutmann

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