Irving Wladawsky-Berger

Is the Digital Revolution At Last Shaking Up Banking?

Irving Wladawsky-Berger

Digital transformations have generally followed three distinct stages. First comes the use of IT to improve the productivity and quality of back- and front-end processes.

Data 157

The Economic Value of Digital Identity

Irving Wladawsky-Berger

Identity plays a major role in our everyday life. It’s the key that determines the particular transactions in which we can rightfully participate as well as the information we’re entitled to access.

Data 200

Blockchain - the Networked Ecosystem is the Business

Irving Wladawsky-Berger

A few weeks ago I attended two back-to-back blockchain events in Toronto, - the Blockchain Research Institute All-Member Summit followed by the inaugural Blockchain Revolution Global conference. Both events included a number of excellent talks and panels.

The Third Wave of the Digital Economy - Promises and Challenges

Irving Wladawsky-Berger

“The next wave of digital innovation is coming. Countries can welcome it, prepare for it, and ride it to new heights of innovation and prosperity, or they can ignore the changing tide and miss the wave,” writes Robert Atkinson in The Task Ahead of Us.

Data 216

The Productivity Paradox: Digital Abundance and Scarce Genius

Irving Wladawsky-Berger

Despite the relentless advances of digital technologies, productivity growth has been declining over the past decade. Investment and interest rates have remained low, and income has continued to stagnate for the majority of workers in the US and other developed economies.

The Puzzling Personal Productivity Paradox

Irving Wladawsky-Berger

The past 10-15 years have seen a number of technology advances, from smartphones to machine learning. Yet, despite these impressive advances, for most of this period economies around the world have been stuck in an era of slow productivity growth.

A Novel Method for Measuring the Value of Free Digital Services

Irving Wladawsky-Berger

Gross domestic product (GDP) is the basic measure of a country’s overall economic output, based on the market value of all the goods and services the country produces. Most measures of economic performance used by government officials to inform their policies and decisions are based on GDP figures.

Data 188

AI and the Evolution of History

Irving Wladawsky-Berger

Data 181

AI and our Social Interactions

Irving Wladawsky-Berger

I recently wrote about the event I attended on February 28 to celebrate the launch of MIT’s Schwarzman College of Computing.

Issues 198

Redefining Work - Leveraging Human Capabilities in a Future of Expanding Automation

Irving Wladawsky-Berger

How will labor markets evolve in our 21st century digital economy? What’s the likely future of jobs, given that our increasingly smart machines are now being applied to activities requiring intelligence and cognitive capabilities that not long ago were viewed as the exclusive domain of humans?

System 246

Automation and the Changing Demand for Workforce Skills

Irving Wladawsky-Berger

In 2015, the McKinsey Global Institute launched a multi-year study to explore the potential impact of automation technologies on jobs, organizations and the future of work. In the intervening three years, the study has published a number of report on the subject.

Skills 259

The Economic Value of Artificial Intelligence

Irving Wladawsky-Berger

PwC recently released a report on the potential economic value of AI to different regions and industry sectors around the world.

Data 245

Globalization in Transition

Irving Wladawsky-Berger

I recently read two interesting reports on the state of globalization in 2019, one by The Economist, the second by the McKinsey Global Institute. They both agree on the facts, - globalization and global trade have been undergoing considerable changes since the 2008 global financial crisis.

Cost 188

Once Lumbering, Now Innovative Incumbents Hit Their Stride

Irving Wladawsky-Berger

Last year, IBM’s Institute for Business Value published Incumbents Strike Back , a global C-suite study based on survey data from over 12,800 executives from 112 countries, including CEOs, CFOs, CMOs, COOs, CIOs, and CHROs.

The Current State of AI Adoption

Irving Wladawsky-Berger

AI is seemingly everywhere. In the past few years, the necessary ingredients have finally come together to propel AI beyond early adopters to a broader marketplace: powerful, inexpensive computer technologies; advanced algorithms; and huge amounts of data on almost any subject.

Will Humans Be Better Off in an Increasingly AI-Based Future?

Irving Wladawsky-Berger

After decades of promise and hype, artificial intelligence is finally becoming one of the most important technologies of our era. As AI continues to both spread and advance, will it enhance human capacities or will it lessen human autonomy and agency?

System 207

The Business Value of Resilience

Irving Wladawsky-Berger

The Industrial Revolution was “as much about process innovations that reduced waste and increased productivity as it was about the application of new technologies,” wrote Roger Martin in a recent Harvard Business Review (HBR) article, - The High Price of Efficiency.

Price 192

Beyond Machine Learning: Capturing Cause-and-Effect Relationships

Irving Wladawsky-Berger

Artificial intelligence is rapidly becoming one of the most important technologies of our era. Every day we can read about the latest AI advances from startups and large companies.

Data 200

The Impact of AI on the World Economy

Irving Wladawsky-Berger

A few weeks ago I wrote about the economic value of AI based on a recently published report by PwC. The report’s overriding finding was that AI technologies and applications will increase global GDP by up to 14% between now and 2030, the equivalent of an additional $15.7

Data 216

Despite All the Bad News that Surround Us… Is the World Actually Getting Better?

Irving Wladawsky-Berger

News 185

Is Blockchain Now Transitioning to a More Mundane and Useful Era?

Irving Wladawsky-Berger

Blockchain was created around a decade ago as the public, distributed ledger for the Bitcoin cryptocurrency.

Issues 174

The Evolution of Work in Urban Labor Markets

Irving Wladawsky-Berger

A few weeks ago I heard a very interesting keynote by MIT economist David Autor at the annual conference of MIT’s Initiative on the Digital Economy. The talk was based on his recently published paper Work of the Past, Work of the Future.

Skills 118

The Myth of the Washed-Up, Middle-Age Entrepreneur

Irving Wladawsky-Berger

Steve Jobs, Bill Gates, and Mark Zuckerberg were in their early 20s; Sergei Brin and Larry Page were 25; and Jeff Bezos was just 30 when they founded their world leading high-tech companies.

The New, Interdisciplinary, MIT Schwarzman College of Computing

Irving Wladawsky-Berger

A few months ago, MIT president Rafael Reif announced the launch of the Stephen A.

Data 171

Fostering an Innovation Culture: Talent, Discipline and Leadership

Irving Wladawsky-Berger

Innovation has been a hot topic for the past few decades. Companies all over the world have integrated innovation into their overall strategies and marketing campaigns.

The Rise of Global, Superstar Firms, Sectors and Cities

Irving Wladawsky-Berger

In the 1990s, t he Internet was supposed to usher a much more open, decentralized, democratic economy and society. Startups with innovative business models where now able to reach customers anywhere, anytime.

Data 188

Serverless Computing - An Innovative Approach to Software Development

Irving Wladawsky-Berger

I n October of 2008, The Economist published a special report on a then relatively new, rapidly growing IT development, - cloud computing.

What Might Work Look Like in 2030?

Irving Wladawsky-Berger

A number of recent studies have taken a close look at the the future of work over the next 10 to 15 years. For example, a December, 2017 report by McKinsey examined which jobs will likely be displaced by automation through 2030, as well as which jobs are likely to be created over the same period, based on data from 46 countries.

Skills 147

Are Innovation and R&D Yielding Decreasing Returns?

Irving Wladawsky-Berger

Given the pace of technological change, we tend to think of our age as the most innovative ever. But over the past several years, a number of economists have argued that increasing R&D efforts are yielding decreasing returns. Has the ideas machine broken down?

Blockchain Beyond the Hype

Irving Wladawsky-Berger

A recent issue of The Economist included a special report on cryptocurrencies and blockchains.

Data 176

What Machine Learning Can and Cannot Do

Irving Wladawsky-Berger

Artificial intelligence is rapidly becoming one of the most important technologies of our era. Every day we can read about the latest AI advances from startups and large companies.

Data 207

The World Bank’s Human Capital Index

Irving Wladawsky-Berger

Last week I wrote about a recently published World Bank report, The Changing Nature of Work. The report highlights the increasing importance of investing in human capital by both the public and private sectors.

Data 171

A Biological Approach to Management

Irving Wladawsky-Berger

Darwinian principles seem to apply in business almost as much as in biology.

An Agile, Incremental Approach to Business Process Automation

Irving Wladawsky-Berger

I’ve long believed that customer self-service was key to the success of e-business , - the IBM Internet strategy I was closely involved with in the mid-late 1990s.

Harnessing the Collective Intelligence of Humans and Machines

Irving Wladawsky-Berger

For over a decade, MIT professor Thomas Malone has been conducting pioneering research on the collective intelligence of groups. Malone is the founding director of the MIT Center for Collective Intelligence , and has authored and co-authored a number of seminal articles on the subject.

Data 210

Social Physics and Cybercrime Detection

Irving Wladawsky-Berger

A few weeks ago I wrote about social physics, a new discipline that aims to help us better understand and predict the behavior of human groups.

Data 186

The 2018 MIT Inclusive Innovation Challenge

Irving Wladawsky-Berger

In 2016, MIT’s Initiative on the Digital Economy launched its first annual Inclusive Innovation Challenge (IIC).

The Jobs Outlook for 2022

Irving Wladawsky-Berger

A few weeks ago, the World Economic Forum (WEF) released The Future of Jobs Report 2018. T he report takes an in-depth look at the world of work in what the WEF calls the Fourth Industrial Revolution.

Survey 169

Social Physics - Reinventing Analytics to Better Predict Human Behaviors

Irving Wladawsky-Berger

Social physics first emerged over 200 years ago as an attempt to understand society and human behavior using laws similar to those of the physical sciences.

Robocalypse Now? Technology, Productivity and Employment

Irving Wladawsky-Berger

Is the Robocalypse upon us?, asked MIT economist David Autor in his presentation at a recent Forum of European central bankers. His presentation was based on a paper co-written with Utrecht University economist Anna Salomons. “Is productivity growth inimical to employment?,”

Deep Learning: Is it Approaching a Wall?

Irving Wladawsky-Berger

Deep learning and related machine learning advances have played a central role in AI’s recent achievements, giving computers the ability to be trained by ingesting and analyzing large amounts of data instead of being explicitly programmed.

Human Capital and the Changing Nature of Work

Irving Wladawsky-Berger

People have long feared that machines are coming for our jobs. Throughout the Industrial Revolution there were periodic panics about the impact of automation on work, going back to the so-called Luddites , - textile workers who in the 1810s smashed the new machines that were threatening their jobs.

Change 156

Platforms, Blockchains, and the Evolution of Trust

Irving Wladawsky-Berger

“In primitive economies, people traded mostly with members of their village and community,” wrote David Brooks in a June, 2014 NY Times OpEd, - The Evolution of Trust. “Trust was face to face.

Issues 236