Artificial Intelligence is Ready for Business; Are Businesses Ready for AI?

Irving Wladawsky-Berger

asks McKinsey in a recently published report - Artificial Intelligence: the Next Digital Frontier. “AI adoption outside of the tech sector is at an early, often experimental stage,” is the report’s succinct answer. “Few firms have deployed it at scale.”. AI is now seemingly everywhere.

Data 221

The Productivity Paradox: Digital Abundance and Scarce Genius

Irving Wladawsky-Berger

Translating technological advances into productivity gains requires major transformations in business processes, organization and culture, - and these take time. Despite the relentless advances of digital technologies, productivity growth has been declining over the past decade.

The Slow, Steady March Towards Digital Money

Irving Wladawsky-Berger

As in previous years, the Symposium convened a group of leaders in their field to explore the state of adoption of digital money and its economic and societal impacts around the world. . Digital money adoption is a slow changing, long haul commitment. .

The Impact of AI on R&D and Innovation

Irving Wladawsky-Berger

Beyond innovations in existing sectors, the rapidly improving price/performance of GPTs have led over time to the creation of whole new applications and industries.

The Internet, Blockchain, and the Evolution of Foundational Innovations

Irving Wladawsky-Berger

What makes disruptive innovations dangerous to incumbent firms is that, if allowed to gain a market foothold, they can get on a learning curve of rapidly improving quality and capabilities while preserving the lower prices and/or ease-of-use that drove their early acceptance.

The Evolution of Design Thinking

Irving Wladawsky-Berger

Good design brings together a high quality, competitively priced product with a positive user experience. The habit of publicly displaying rough prototypes hints at an open-minded culture, one that values exploration and experimentation over rule following.” .

Design 281

AI and the Productivity Paradox

Irving Wladawsky-Berger

Traditional metrics don’s adequately account for the digital economy, because so many of its technologies deliver substantial value while accounting for a small share of GDP due to their relatively low price.

A Data Science Approach to Organizational Health

Irving Wladawsky-Berger

By 2006, about 20% were out of business, almost half were struggling and a only a third were still high performers, according to Beyond Performance: How Great Organizations Build Ultimate Competitive Advantage , a book published in 2011 by McKinsey’s Scott Keller and Colin Price.

Data 250

The (Uneven) Digitization of the US Economy

Irving Wladawsky-Berger

Digital innovation, adoption, and usage are evolving at a supercharged pace across the US economy,” notes the report in its opening paragraph. “As Digital technologies are all around us, - increasingly ubiquitous and commoditized. But, are they a major source of competitive differentiation

Data 190

Shaping the Future of the Internet

Irving Wladawsky-Berger

That year saw the adoption of TCP/IP , - the communications protocol that defines the Internet to this day. Its technical directions and overall culture have been largely determined by the academic and research communities, who were also its early users.

Data 207

Irving Wladawsky-Berger: Business, Innovation and Survival

Irving Wladawsky-Berger

Part of it is to make the point of how serious it is to have an innovation culture in a company as part of its long term strategy. You need to then become even more innovative around the organizational, business and culture models needed to move the company to the new market realities.

Irving Wladawsky-Berger: Business, Innovation and Survival

Irving Wladawsky-Berger

Part of it is to make the point of how serious it is to have an innovation culture in a company as part of its long term strategy. You need to then become even more innovative around the organizational, business and culture models needed to move the company to the new market realities.

The Evolution of the Internet of Very Smart Things

Irving Wladawsky-Berger

The centrally managed, highly scalable, attractively priced cloud platforms were now being designed to support a variety of mobile devices, - e.g. smartphones, tablets, e-readers and laptops.

Data 278

The Future of Financial Services

Irving Wladawsky-Berger

The wide adoption of the Internet in the 1990s led not only to online banking, but paved the way for e-commerce. .

Data 227

The Global Business Environment: Success or Struggle?

Irving Wladawsky-Berger

A few weeks ago I wrote about one of them, The burdens of the past , which dealt with the growing gap between individuals and institutions in their adoption of knowledge-sharing technologies. Many of these companies have adopted a defensive posture in response to such unpredictable markets, - focusing on increased productivity and lower costs, which leaves little room for creativity and innovation.

The Analog Foundations of the Digital Revolution

Irving Wladawsky-Berger

Companies can thus provide lower prices and better services to their customer, and governments can offer more convenient online services for a wide range of tasks. Complex Systems Economic Issues Innovation Management and Leadership Political Issues Society and Culture Technology and Strateg

Class 193

The Impact of AI on R&D and Innovation

Irving Wladawsky-Berger

For the past couple of centuries, general-purpose technologies (GPTs) have been the key drivers of productivity and economic growth, - thanks to their rapid improvements in price and performance, pervasive applications, and ability to spur complementary innovations across a wide variety of industries. Beyond innovations in existing sectors, the rapidly improving price/performance of GPTs have led over time to the creation of whole new applications and industries.

A Kind of Digital “Perfect Storm”

Irving Wladawsky-Berger

Mobile is furthest along while cloud adoption is taking off. Our human nature and organizational cultures have not changed all that much in the intervening millennia.

Data 234

AI and the Productivity Paradox

Irving Wladawsky-Berger

Traditional metrics don’s adequately account for the digital economy, because so many of its technologies deliver substantial value while accounting for a small share of GDP due to their relatively low price. It’s only been in the last few years that complementary innovations like machine learning have taken AI from the lab to early adopters in the marketplace. B eyond the relatively small number of early adopters, AI is still in the experimental stage.

Big-Bang Disruptions: The Innovator’s Dilemma in the Digital Economy

Irving Wladawsky-Berger

Once it’s clear that the innovation is inevitable, the company must step up to embrace it, - whether it likes it or not, - with efforts like in-house skunkworks , marketplace experiments, collaborations with early adopters and evaluation of potential acquisitions. Complex Systems Economic Issues Education and Talent Innovation Management and Leadership Services Innovation Smart Systems Society and Culture Technology and Strategy

En Route to the Cashless Society

Irving Wladawsky-Berger

Square Register is an iPad app that enables merchants to accept payments, generate digital receipts and manage their menu items and prices. Similarly , this past June, the US Agency for International Development (USAID) and Citi announced a partnership aimed at accelerating mobile money adoption in developing countries. Complex Systems Digital Money and Payments Economic Issues Innovation Political Issues Services Innovation Society and Culture Technology and Strategy

Why Do Firms Exist?

Irving Wladawsky-Berger

When processes have been effective for a long time, people follow them without thinking and over time they become part of the culture of the organization. Value shape the culture of the organization, defining what it does as well as the boundaries beyond which it will generally not go. Over time, the culture of the organization takes shape. Culture is a powerful management tools in these situations.

Innovation in Higher Education

Irving Wladawsky-Berger

And if a postsecondary education is fundamentally affordable - meaning lower in cost, not just price - this will also answer the question of how to extend access by enabling students to afford a higher education.” This changes the rules of the game by providing a reasonably priced, good-enough service to people who could not previously afford it, and which is easily scalable to serve many more people and flexible enough to keep improving over time.

The Power of Pull

Irving Wladawsky-Berger

The hierarchically organized enterprise was the management model adopted by businesses to help them scale their production of goods and services. Mass production was one of the major achievements of the 20th century, bringing us a plethora of goods and services at affordable prices and helping to raise the standard of living around the world. Tags: Complex Systems Economic Issues Education and Talent Innovation Management and Leadership Society and Culture

IT, Productivity and Organizational Capital

Irving Wladawsky-Berger

Given their fast declining prices, these companies have been able to acquire and deploy significantly more information technologies across all their operations. Productivity studies at both the firm level and the establishment (or plant) level during the period 1995-2008 reveal that the firms that saw high returns on their technology investments were the same firms that adopted certain productivity-enhancing business practices. invest in corporate culture.

The Management of Disruptive Innovations

Irving Wladawsky-Berger

Unrealistic predictions are then made about the near term impact and rate of adoption of the new innovation, because the innovation in question is quite complex in nature, but the predictions assumes that it is on the simpler end of the spectrum. . Similarly, flat panel displays replaced CRT monitors and televisions once their prices dropped to the point that many could afford them.

The Evolution of the World's Digital Payments Infrastructure II

Irving Wladawsky-Berger

They will also be able to collect lots of new real-time information that will be useful to consumers trying to find the best possible prices, to merchants trying to find new channels to reach their potential clients and to governments trying to get a better handle on their economies. we believe the interoperability benefits of the public anchor model [or regional payment clouds] will help accelerate customer adoption and shorten payback periods.

Principles and Compromises

Irving Wladawsky-Berger

And he put IBM’s money where his mouth was – writing to two Southern governors that IBM refused to adopt “separate but equal” policies, and that if those states didn’t like that, IBM would locate its plants elsewhere. President Johnson realized that his party was going to pay a huge price for his actions. “We Economic Issues Management and Leadership Political Issues Society and Culture

Leveraging Commercial Best Practices to Maximize Government Productivity

Irving Wladawsky-Berger

By harnessing major technological shifts and adopting best business practices, we can not only make our government far more productive, but also foster greater innovation in areas ranging from healthcare to education and energy – innovation that will generate economic growth and job creation. “We Given the current fiscal outlook for governments at all levels, maximizing government productivity will be essential to maintaining the services citizens want at prices taxpayers can afford.”

A Very Delicate Balance

Irving Wladawsky-Berger

They have a revenue stream, investors, a stock price and financial expectations to meet - quarter after quarter after quarter. They have employees, assets, an established organization and a corporate culture. Ideally, an established company can embrace a new innovation not by trying to act like the start-up it is not, but by figuring out how to leverage the new innovations to evolve its organization, culture and business models into the future.

Toward a More Distributed, Collaborative Government

Irving Wladawsky-Berger

But, for a distributed organization to work effectively, it must adopt a culture of collaboration across its most important tasks. We have also seen new private sector initiatives like miniclinics , which hold great promise for delivering "entry-level" primary care at reasonable prices. Tags: Management and Leadership Society and Culture

The Big Shift: from Scalable Efficiency to Scalable Learning

Irving Wladawsky-Berger

And, all these changes are being ultimately driven by the fast adoption rate of digital infrastructures, which is two to five times faster than previous infrastructures like the electric grids and telephone networks. Stock price volatility, labor productivity and competitive intensity are used as measure of markets and market dynamics. Tags: Education and Talent Innovation Management and Leadership Society and Culture

Exploring Business Types and Business Models

John Hagel

And, if there is a difference, what business models should each business type adopt? As I suggested in a blog post last year, business models focus on the specific form of value delivered to customers and the economics (revenue, expenses and assets) required to deliver that value to the marketplace so that customers feel they are paying a fair price and the owner of the business earns a decent return. OK, I’ve created some confusion.

Types 118

Open – Review

Harold Jarche

David Price in Open: How we’ll work live and learn in the future. The core of this book is David Price’s SOFT model and I have highlighted some components in this summary table, with further explanations below.

Review 238

The Disruption Debate - What's Missing?

John Hagel

Some of the commentators may be right: perhaps this article is better read as the most recent manifestation of the cultural conflict between the humanities-driven East and the technology-driven West. This demise is typically brought about by one or more players adopting a different approach to a market or arena that represents a significant challenge to the established position of existing participants.

Trends 208

Scaling: of gaps and things

Dave Snowden

For those interested and able to get to Sydney this link will give you a third off the full price. The common assumption that strategy as determined and articulated by senior management creates various needs (which can be organisational change, culture, technology, tools etc.

The “New” Recruiter

Kevin Wheeler

They have ranged from business process re-engineering to Six-Sigma quality and have been responsible for the productivity gains world economies have enjoyed, as well as for the lower prices and better quality of most products we use. We also expect products to be priced very low relative to how they were priced for our parents. Items such as televisions, cars and computers are incredibly cheap compared to when they first appeared on the market, and prices continue to decline.

Price 151

The Leader's Guide to Radical Management: Is Internet access a.

Steve Denning

Many of the basic ideas that animated the movement developed in the aftermath of the Second World War, culminating in its adoption by the Universal Declaration of Human Rights by the United Nations General Assembly in 1948.

[berkman] Piracy in developing countries

David Weinberger

Three areas of research: Pricing: The persistence of high and relatively uniform media prices in the developing world; the industry wants to protect the value of their goods in Western markets rather than worrying about making it available in the developing world. Uniform and high prices plus poverty is pretty much the recipe for piracy. Joe shows a table of prices of Coldplay’s Viva La Vida in six countries. The legal price ranges from $8.50

Price 136

Beyond Free ? Open Learning in a Networked World

Stephen Downes: Half an Hour

It''s not simply the money, but it''s the background, the expectations, the culture, and the values that money can buy." Abel & Deitz, 2014) Financial aid programs drive college prices higher, as though they were incapable of doing anything else. From price.

The Leader's Guide to Radical Management: Radical management is.

Steve Denning

For me the key questions relate to cultural norms and values. What changes are required in the value system to drive the culture so that one day organizations will be able to say (radical management ) this is the way we do it around here.

Change 192

Without the need to think, people stop doing so

Martijn Linssen

million educated - thats 10,000 euro people like me wont have to pay, because we do so via taxes So, everything comes at a price I think that common sense comes at a price too. And if this is the price paid by the US, what did they get in return? Business or Pleasure? -

The Reinvention of Management: Part 3: From controller to enabler

Steve Denning

In effect, management must adopt teams as the basic mental model of the way the work is done. Reinventing management Part 6: From command to conversation How education is infected by bureaucracy: We need a new culture of learning Obama and the moral of the salmon: its the story, stupid!