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AI Technologies Are Fundamentally Changing How Work Gets Done

Irving Wladawsky-Berger

To the contrary, automating the more routine parts of a job will often increase the productivity and quality of workers by complementing their skills with technologies and tools, thus enabling them to focus on those aspect of the job that most need their attention.

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. But, in the US and other advanced economies, productivity growth has significantly slowed down over the past few decades. From 1987 to 2004 US labor productivity grew at a 2.1% Since 2011, the productivity rate has further declined to 0.6%. . US labor productivity grew at only 1.5%

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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. 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 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. Some contend, - most prominently Northwestern University economist Robert Gordon , - that over the past few decades there’s been a fundamental decline in innovation and productivity. Demographic change , namely, the declining population and labor force growth around the world, is another potential cause for slow economic growth.

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.” .

Leadership in a Changing World

Irving Wladawsky-Berger

What are the critical competencies needed to lead in our fast-changing business environment? Its findings were recently published in The CEO Report: Embracing the Paradoxes of Leadership and the Power of Doubt. The key challenge confronting CEOs, - and senior executives in general, - is the relentless pace of change. But, w hile speed is the major dimension of change, it’s not the only one. Is the change evolutionary or revolutionary in nature?

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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

Lessons In Culture From United Airlines

Dan Pontefract

Specifically, I wanted to know if she felt their new CEO, Oscar Muñoz, would bring any change to the company, its culture and its operating practices. “Oh Take for instance the Airline Quality Rating 2015 report. In its 25th year of reporting on airline performance, the 2015 version does not indicate things are significantly improving for United Airlines. It is an average experience, both of its product and its service. Photographer: Patrick T. Fallon/Bloomberg.

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. But, technology and market environments have drastically changed in the intervening years. research leadership ultimately depends,” writes the MIT report. “In

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. The first report , published in November, 2015, explored whether we can look forward to vast improvements in productivity and quality of life, or whether automation will mostly threaten jobs, disrupt organizations, and strain the social fabric. McKinsey’s December, 2017 report analyzed whether there will be enough work in the future.

Skills 187

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 200

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. Education and Talent Future of Work Political Issues Society and Culture

Data Science and the Changing Nature of Research and Innovation

Irving Wladawsky-Berger

Establishing productive collaborations between academia and industry has been difficult. Organizational structures and cultural attitudes are not keeping up with changing realities. While competitive pressures force companies to adjust to fast changing market realities, change comes slower to academic and government institutions. Throughout this period, research discoveries in the physical sciences were rapidly translated by engineers into innovative products.

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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.

Online Learning Trends Enhancing Employee Productivity in 2017

TOPYX LMS

One industry that is constantly changing is online learning, also referred to as eLearning. Corporate Online Learning Trends Can Boost Employee Productivity . They want to know which trends are noteworthy, and which can facilitate a productive workplace. Read on to discover a few online learning trends that can bolster company culture and increase employee productivity in 2017. 3 Corporate Online Learning Trends That Can Boost Employee Productivity in 2017.

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.

It’s Culture, Leadership and E2.0 … or fail

Dan Pontefract

Over the last several months, at the job that actually pays me, I’ve been on somewhat of a soapbox speaking, writing, blogging, yammering about the link between culture, leadership philosophy and Enterprise 2.0 Social computing inside of the enterprise is changing the game. It is breaking down silos, opening up doors, building relationships … and … eventually, improving productivity, efficiencies and ideally revenues/profits. It can be culture forming.

Online Learning Trends Enhancing Employee Productivity in 2017

TOPYX LMS

One industry that is constantly changing is online learning, also referred to as eLearning. Corporate Online Learning Trends Can Boost Employee Productivity . They want to know which trends are noteworthy, and which can facilitate a productive workplace. Read on to discover a few online learning trends that can bolster company culture and increase employee productivity in 2017. 3 Corporate Online Learning Trends That Can Boost Employee Productivity in 2017.

To Really Drive Enterprise 2.0 Forward We Need A Behaviour Change

Dan Pontefract

A joint effort of Capgemini Consulting and the MIT Center for Digital Business resulted in a wonderful report recently published entitled, “ Digital Transformation: A Road-Map for Billion-Dollar Organizations ”. One key line struck me: Whether using new or traditional technologies, the key to digital transformation is re-envisioning and driving change in how the company operates. Why do I land on productive, and not collaborative, or engaged, or learned, or reciprocal, or connected?

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

Steve Denning

Medina (@ milouness ) got me thinking about this, when she posted an interesting question on Twitter: Why exactly do we tolerate nation-state system running on rules and culture norms that would bankrupt any modern organization? 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.

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How Covid Is Reordering the Global Economy

Irving Wladawsky-Berger

The covid-19 pandemic will accelerate change in the world economy,” says The Economist. Let me discuss the three key areas where The Economist expects long-lasting changes: globalization, digitization and inequality.

Issues 242

Building Better Jobs in an Age of Intelligent Machines

Irving Wladawsky-Berger

On November 18, the MIT Task Force on the Work of the Future released its final report , The Work of the Future: Building Better Jobs in an Age of Intelligent Machines. An interim report was released in September, 2019. The Task Force comprehensive report covers a lot of ground.

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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.

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70:20:10 – Above All Else It’s a Change Agent

Charles Jennings

“Progress is impossible without change; and those who cannot change their minds cannot change anything.” People aren’t hired to learn, they’re hired to increase productivity or capability. There are productivity expectations and organizational needs to be met.” Each organisational culture will display its own profile of workplace, social and structured development opportunities, and each will vary dependent on a number of factors. [1]

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Why Business Transformation Efforts Often Fail

Irving Wladawsky-Berger

It was thus important to analyze what distinguished successful corporate changes. “The most general lesson to be learned from the more successful cases is that the change process goes through a series of phases that, in total, usually require a considerable length of time.

Total Institutions, Productivity, and Unemployment

Bob Sutton

   And I do believe from many conversations with senior Google executives over the years that they care deeply about their people's happiness and well-being and seem -- somehow -- to have sustained a no a **e culture even at 32,000 people strong.    I love the folks at Facebook, especially their curious and deeply skilled engineers, but think of the message it sends about the definition of a good citizen in that culture). 

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. Nearly half, 47%, had embedded at least one AI capability in their standard business processes, but only 21% reported using AI across multiple business functions. 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. According to the Innosight Forecast report , a few key megatrends are responsible for the market turbulence behind the changing makeup of the S&P 500. Change is often difficult for such companies. Disruptive change highlights the importance of continual business model innovation.

What History Tells Us About the Accelerating AI Revolution

Irving Wladawsky-Berger

A few weeks before our lives were turned upside down by Covid-19, I read Technology at Work v4.0 , the fourth report in the Technology at Work Series developed by Citigroup in collaboration with Oxford University. The report includes an excellent chapter on What History Tells Us About the Coming AI Revolution by Oxford professor Carl Benedikt Frey based on his 2019 book The Technology Trap.

How Will the Pandemic Reshape Labor Markets?

Irving Wladawsky-Berger

Autor and Reynolds are cochairs of the ongoing MIT Work of the Future task force, whose interim report was published in the (pre-Covid) Fall of 2019. Such changes in urban life would severely impact the employment prospects of urban non-college-educated service workers.

Issues 166

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. Main | A Grand Challenge Crying Out for Leadership » November 26, 2007 Innovation, Fundamental Research and Universities The October 13 issue of The Economist included a special report on innovation. The lead article set the stage when it said, "Rapid and disruptive change is now happening across new and old businesses.

Hope for HP's Culture - Bob Sutton

Bob Sutton

Management maxims in need of a makeover - US News and World Report. James Adams: Good Products, Bad Products: Essential Elements to Achieving Superior Quality. Howard Gardner: Changing Minds: The Art and Science of Changing Our Own and Other Peoples Minds. Guy Kawasaki: Enchantment: The Art of Changing Hearts, Minds, and Actions. May: The Shibumi Strategy: A Powerful Way to Create Meaningful Change. This is a dramatic change in behavior.

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. Something similar could happen to a company or economy too dependent on a few products, industries, processes or business models.

Price 168

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. Many AI initiatives fail,” was the report’s overriding finding. “Seven out of 10 companies surveyed report minimal or no impact from AI so far. Companies often look to AI to help them cut costs and increase productivity.

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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. The report’s overriding finding is that AI is the biggest commercial opportunity for companies, industries and nations over the next few decades. trillion of the expected GDP growth will come from productivity gains, especially in the near term. What’s your readiness for change?

Data 194

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. F or the most part, they view AI as mostly augmenting rather than replacing human capabilities, automating the more routine parts of a job and increasing the productivity and quality of workers, so they can focus on those aspect of the job that most require human attention. Given these predictions about the changing nature of work, what should companies do?

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Irving Wladawsky-Berger: Hybrid Models of Capitalism

Irving Wladawsky-Berger

Irving Wladawsky-Berger A collection of observations, news and resources on the changing nature of innovation, technology, leadership, and other subjects. Titled “Going Hybrid” , it is the lead article in a special report on business in Japan. It examines the changes taking place in Japanese companies in the past decade as they are developing a new industrial model that combines elements of the old Japanese way of doing things with some carefully chosen bits of American capitalism.

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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 I now want to discuss a September, 2018 report by the McKinsey Global Institute on the impact of AI on the world economy. Below is a summary of the report’s key findings. .

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The Current State of AI Adoption

Irving Wladawsky-Berger

Two recent reports concluded that, over the next few decades, AI will be the biggest commercial opportunity for companies and nations. AI advances have the potential to increase global GDP by up to 14% between now and 2030, the equivalent of an additional $14-15 trillion contribution to the world’s economy, and an annual average contribution to productivity growth of about 1.2 AI is seemingly everywhere.

What Might Work Look Like in 2030?

Irving Wladawsky-Berger

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. Another report, The Changing Nature of Work , - published by the World Bank in October, 2018, - concluded that our problem is not that there won’t be enough work in the future.

Skills 138

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. But, they differ in their explanations of the reasons for the changes. Major structural changes.

Cost 144

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. But, concerns have long been raised about the adequacy of GDP-based measurements given the major changes that’ve taken place in economies around the world over the past several decades. GDP is essentially a measure of production. noted its report.

Price 144

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. According to the report, the first stage of the world’s digital transformation started in the early 1990s, with the advent of the commercial Internet and the World Wide Web.