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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. Demographic change , namely, the declining population and labor force growth around the world, is another potential cause for slow economic growth.

The Productivity Puzzle

Irving Wladawsky-Berger

Economic growth has two main components, productivity growth and the growth of the labor force. I ncreasing productivity is thus more crucial than ever to promote economic growth. From 1987 to 2004 US labor productivity grew at a 2.1% The Difficulty of Measuring Productivity.

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AI and the Productivity Paradox

Irving Wladawsky-Berger

But, at the same time, productivity growth has significantly declined over the past decade, and income has continued to stagnate for the majority of Americans. Economists have proposed competing explanations for declining productivity growth and so far have failed to reach a consensus.” .

AI and the Productivity Paradox

Irving Wladawsky-Berger

But, at the same time, productivity growth has significantly declined over the past decade, and income has continued to stagnate for the majority of Americans. This puzzling contradiction is addressed in Artificial Intelligences and the Modern Productivity Paradox , a working paper recently published by the National Bureau of Economic Research (NBER). Economists have proposed competing explanations for declining productivity growth and so far have failed to reach a consensus.” .

The Internet of Things is Changing the World

Irving Wladawsky-Berger

“How the world will change as computers spread into everyday objects,” is the title of the lead article in a comprehensive review of the Internet of Things (IoT) in a r ecent issue of The Economist. IoT has been ushering a whole new class of smart connected products.

Change 159

No cookie cutters for complexity

Harold Jarche

As social learning, collaboration, and even complexity become mainstream concepts, the array of products and services around them are becoming commoditized. Making a value proposition around behaviour and culture change is therefore very difficult. complexity

The Complex Nature of Cloud-based Innovation

Irving Wladawsky-Berger

I find it helpful to look at cloud along two key dimensions: as a technology to improve IT productivity, and as a platform for enabling business innovation. In addition, cloud can help business users become more agile and keep up with the fast pace of technological and market changes.

Build trust, embrace networks, manage complexity

Harold Jarche

But hierarchies are rather useless to create, innovate, or change. We have known for quite a while that hierarchies are ineffective when things get complex. In matrix management people have more than one reporting line and often work across business units. Complexity.

Automation and the Changing Demand for Workforce Skills

Irving Wladawsky-Berger

In the intervening three years, the study has published a number of report on the subject. Based on an analysis of around 2,000 work activities across 800 different occupations, the report concluded that “fewer than 5 percent of occupations can be entirely automated using current technology.

Skills 255

Scale and Complex Systemic Innovation

Irving Wladawsky-Berger

Conventional wisdom these days says that small is better when it comes to innovation and putting new ideas into practice,” writes Mandel at the beginning of the report. They are highly motivated to bring to market new products which offer significantly improved designs and/or lower costs, and thus gain competitive advantage and market share from the established leaders in their segment of the market.

System 163

How Can We Ensure that Our Complex AI Systems Do What We Want Them to Do?

Irving Wladawsky-Berger

Software-intensive systems are generally quite flexible, - able to evolve and adapt to changing product and market requirements. And, at the bleeding-edges of complexity are data-driven AI systems , which are generally based on statistical analysis and machine learning methods. .

System 221

Social Learning, Complexity and the Enterprise

Harold Jarche

Organizations, in order to function, need to encourage social exchanges and social learning due to faster rates of business and technological changes. The Internet has fundamentally changed how we communicate on a scale as large as the printing press or the advent of written language.

On the Complex Evolution toward Mobile Digital Payments

Irving Wladawsky-Berger

In addition, by reaching out to financial institutions, merchants, application developers and others, Apple is helping bring together the different players in the payments ecosystem, something that’s absolutely essential to succeed in such a complex undertaking.

Game-Changing Basic Research: Benefits and Challenges

Irving Wladawsky-Berger

Innovation Deficit , - a report on both the long term benefits of basic research and the impact on those benefits of declining federal investments. Over time, the innovations moved from the research labs to product development, and from there to the marketplace.

Human Capital and the Changing Nature of Work

Irving Wladawsky-Berger

But on balance, such fears appear to be unfounded, noted the World Bank in a comprehensive recent report on The Changing Nature of Work. That’s a mistake, because neglecting investments in human capital can dramatically weaken a country’s competitiveness in a rapidly changing world, one in which economies need ever-increasing amounts of talent to sustain growth.” . How is the Nature of Work Changing? People have long feared that machines are coming for our jobs.

Change 153

Data Science and the Changing Nature of Research and Innovation

Irving Wladawsky-Berger

The study examined the current state of US research and innovation; looked at the role of its key players: academia, industry, and government; and proposed a set of recommendations to better address the highly complex challenges we face in the 21st century information economy.

Data 250

Measuring the Forces of Long Term Change

Irving Wladawsky-Berger

Intel co-founder Gordon Moore described what became known as Moore’s Law in a 1965 paper where he observed that the number of components in integrated circuits had doubled every year since their invention in 1958, and predicted that the trend would continue for at least ten years, a prediction he subsequently changed to a doubling every two years. The Foundation index has been growing at a ten percent CGR since 1993, and is the primary driver of all the other changes.

Change 195

Climate Change, Waste & Festivals: a collective fight needing a common understanding

Dave Snowden

it also has the potential to mobilise momentum and drive change through the sharing of stories about what people are doing to make the world a better place. Building small, incremental change has always been the complexity mantra. When thinking about change and transformation, we were particularly interested in the idea of apathy, simplicity and the importance of time, e.g. are people thinking ahead or are there “more important things to do”?

Change 187

The Complex Transition to the Age of the Cloud

Irving Wladawsky-Berger

a sea change - a deep and permanent shift in how computing power is generated and consumed. But, after discussing a number of its benefits to business, - individual productivity, group collaboration, information insights and application development, - McAfee points out that the shift to cloud computing has been slow. The IT function of 2015 will bear little resemblance to its current state,” concludes one such report.

Cloud and “Game Changing” Business Innovation

Irving Wladawsky-Berger

Earlier this year, IBM’s Institute for Business Value published a very good report - The Power of Cloud: Driving Business Model Innovation. According to the report “cloud empowers six potentially game changing business enablers”: . market adaptability - rapid prototyping and innovation to quickly respond to rapidly changing market conditions; . e-books is another widely used, game changing cloud application that is already transforming the book publishing industry.

Leveraging Commercial Best Practices to Maximize Government Productivity

Irving Wladawsky-Berger

On October 6, the Technology CEO Council released its report One Trillion Reasons: How Commercial Best Practices to Maximize Productivity Can Save Taxpayer Money and Enhance Government Services. The report identifes a set of recommendations aimed at reducing US government spending by one trillion dollars over the next decade. Both operate in increasingly fast-changing environments, which are subject to more frequent, serious and unpredictable problems.

The True Value of a Good Education: Adaptability to a Changing Environment

Irving Wladawsky-Berger

In his 1945 seminal report, Science The Endless Frontier , presidential science advisor Vannevar Bush laid out the blueprint for R&D in post-war America: “New knowledge can be obtained only through basic scientific research” conducted in universities and research labs, which is then applied to develop new products by the private sector and new and improved weapons by the defense sector.

The Leader's Guide to Radical Management: 84% vote for change in.

Steve Denning

84% vote for change I reported on Tuesday the shocking statistic that 84% of workers in the US plan to change jobs in 2011. It also shows the futility of changing jobs: when most of the jobs suck, changing jobs won't do anyone much good.

Change 184

Business or Pleasure? - why not both: The product-to-service.

Martijn Linssen

why not both Home About Contact Saturday, 21 August 2010 The product-to-service financial ratio Yesterday I saw a tweet by Frank Scavo : Chatting with a vendor about implementation cost to software license cost ratios. Because the product is more expensive. " Business or Pleasure? -

The Impact on Government of the Structural Changes in 21st Century Economies

Irving Wladawsky-Berger

Most everyone agrees that economies and societies around the world are going through structural changes of a historical nature , driven by a number of powerful forces including digital technologies and globalization. Over the past two decades, companies, especially large, global companies, have been going through major transformations to help them adapt to these structural changes. there are pragmatic grounds now for politicians of all sorts to make the state more productive.

Change 141

The State of AI Adoption - High Performers Show the Way

Irving Wladawsky-Berger

A common theme throughout the report was that the same players who were leaders in the earlier waves of digitization and analytics were the early leaders in the AI wave. Overall, 63% report revenue increases in the business unit where the AI use case is deployed.

The Pace of Creative Destruction is Accelerating

Irving Wladawsky-Berger

Shrinking company lifespans in the S&P 500 is a useful indicator of marketplace turbulence, driven to a large extent by technology disruptions and business model changes. Change is often difficult for such companies. Watch out for changing customer behaviors.

The Urgent Need to Strengthen the Nation’s Resilience

Irving Wladawsky-Berger

These included a significant expansion of government support for scientific research in universities and R&D labs, leading to product innovations from the private sector and better weapons from the defense industry, - and making the US the most prosperous and secure nation in the world.

Issues 224

Building Capacity for Social Change 2.0

Beth Kanter

Heather agreed to write up this report to share some of the content. Building Capacity for Social Change 2.0 Call this “social change 2.0”. Photo by Beth Kanter.

Change 103

The State of AI in the Enterprise

Irving Wladawsky-Berger

Davenport was a co-author of both reports. 44% of respondents cited “enhanced current products” as the top AI benefit to their companies, followed closely by “optimizing internal operations” at 42%, and “make better decisions” at 35%.

Data 233

Why Some AI Efforts Succeed While Many Fail

Irving Wladawsky-Berger

Winning with AI , - a 2019 report based on a survey jointly conducted by the MIT Sloan Management Review and the Boston Consulting Group , - found that 90% of respondents agree that AI represents a business opportunity for their company.

Survey 202

Irving Wladawsky-Berger: Innovation, Fundamental Research and Universities

Irving Wladawsky-Berger

Irving Wladawsky-Berger A collection of observations, news and resources on the changing nature of innovation, technology, leadership, and other subjects. The lead article set the stage when it said, "Rapid and disruptive change is now happening across new and old businesses.

The Business Value of Augmented Reality

Irving Wladawsky-Berger

We generally think of products as physical entities built with a combination of mechanical and electrical components, - e.g., appliances, cars, agricultural machines, industrial equipment, - some quite simple and some highly complex. But, their actual products were largely unaffected.

Data 187

The Collapse of Complex Business Models ? Clay Shirky

Clay Shirky

The Times’ Paywall and Newsletter Economics » The Collapse of Complex Business Models. In 1988, Joseph Tainter wrote a chilling book called The Collapse of Complex Societies. Every one of those groups had rich traditions, complex social structures, advanced technology, but despite their sophistication, they collapsed, impoverishing and scattering their citizens and leaving little but future archeological sites as evidence of previous greatness. Clay Shirky.

The Third Wave of the Digital Economy - Promises and Challenges

Irving Wladawsky-Berger

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. “The next wave of digital innovation is coming.

Data 217

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

Irving Wladawsky-Berger

Over the past few years, a number of papers , reports and books have addressed these very important questions. Given these predictions about the changing nature of work, what should companies do? How will labor markets evolve in our 21st century digital economy?

System 242

A Quarter Century into the Digital Age

Irving Wladawsky-Berger

A few months ago, the McKinsey Global Institute published Twenty-five Years of Digitization , a report offering ten insights to help business leaders navigate this still relatively new digital world. Digital changes everything - even industry boundaries.

Survey 165

Hybrid Worlds

Luis Suarez

One of the most significant and impactful ones has been acknowledging the fact what once used to be the main good old mantra from different Enterprise Social Networking platforms, it’s now pretty much obsolete having lost its touch with today’s more complex than ever business reality.

WebEx 130

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 184

leadership through cooperation

Harold Jarche

According to one news report by Al Jazeera on 2020-02-06 — “The apparent rapid progress in the search for a vaccine to fight the coronavirus, according to analysts, is due to a decision by Chinese authorities to share information about the virus with the public.”

How to Support the Widespread Adoption of AI

Irving Wladawsky-Berger

But during this period of rapid IT growth, US labor productivity grew at only 1.5% You can see the computer age everywhere but in the productivity statistics,” said MIT Nobel Prize laureate economist Robert Solow in 1987, in what’s become known as the Solow productivity paradox.

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. GDP is essentially a measure of production. noted its report.

Data 184

The World is Facing a Period of Digital Disorder

Irving Wladawsky-Berger

Kearney in Competing in an Age of Digital Disorder , - a recent research report. “The global technological landscape is currently being reconstructed, subjecting the once-free and unfettered transfer of data across borders to new and greater digital walls.