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Many organizations are finding success with IoT projects by starting small, considering the short- and long-term value of initiatives, and looking at alternative ways to investigate issues for the information they need.
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As demand for big data technologies grows, so does the problem of finding sufficient skills. Result: Talent shortages could limit the rate of productivity growth. Research shows that labor-market factors have shaped early returns on investment in big data technologies such as Hadoop, a framework for distributed processing of large data sets. It turns out that when know-how is scarce, organizations that invest in new IT or R&D derive significant benefits from the related investments of other organizations.
What’s happening this week at the intersection of management and technology: Smart earbuds at work; adding cybersecurity to the executive job description; diving into data lakes
Eight out of 10 executives surveyed say that as the business value of data grows, the risks their companies face from improper handling of data increase exponentially. While digital advancements enable new opportunities for businesses to compete and thrive, they also create increased exposure to systemic risks. Success in the digital age will require a new kind of ethical review around how companies gather and use data.
The combination of new analytical capabilities and burgeoning data assets are being used to form value-added “data products.” Such products have powered rapid growth in the value and success of online companies, but the expansion of analytics means the standard model for developing these products needs to evolve. An updated model needs to reflect new “time to market” expectations and input from a variety of stakeholders.
The ability of artificial intelligence to sift through mountains of data and identify patterns — and problems — in real time is its key value for business. Using AI to predict failures and take action to prevent them will become commonplace in the very near future. But it can also offer insights into human behavior to help managers improve customer service and employee relations.
Digital transformation is happening all around us, but it’s the foundation for a much more profound transformation still to come. With huge challenges facing humanity on many fronts — climate, disease, population, food and water — we need cognitive technologies to augment human problem-solving capabilities. And those technologies are almost here.
An infographic provides highlights of MIT SMR‘s 2016 Internet of Things report and illustrates the three key areas business leaders need to address in order to realize the IoT value proposition.
We are past the point of debating whether human intuition can be replicated. Machine learning is already here. It will impact most companies over the next few decades and become part of everyday business life. Executives must quickly come to grip with how companies and industries will evolve.
More tasks are being done by cognitive technologies, cutting costs, improving efficiencies, and displacing humans. This may lead to less differentiation between organizations, and a shifting composition of activities within the organization.
The physical world and the digital world are combining to become “a new hybrid space,” with a blurring of boundaries between areas that are private, public, and shared. Understanding how workforces connect within this new, flexible working environment, says MIT professor Carlo Ratti in a recent webinar, is crucial for designing next-generation offices.
Products connected to the Internet of Things are providing unprecedented levels of information. A webinar from MIT SMR covers how IoT is changing the way companies can think about what their customers want and how to design the products they need.
Despite improvements in cognitive technologies, the “Jetson” dream managerial scenario of sitting back and letting machines do all the work is still far from reality. Decisions that executives face don’t necessarily fit into defined problems well suited for automation. Cognitive technologies will increasingly absorb the easiest aspects of executive jobs, but at least for the time being, countless decisions still require human engagement.
In this webinar, James Heppelmann, president and chief executive officer of PTC, discusses how IoT is transforming companies’ organizational structures. He illustrates the new need for companies to coordinate across product design, cloud operation, service improvement, and customer engagement, and some of the models for making the transition to a new structure, including centers of excellence and steering committees.
In a conversation with MIT SMR’s David Kiron and Sam Ransbotham, associate professor of information systems at the Carroll School of Management at Boston College and guest editor for the Data and Analytics Big Idea Initiative for the MIT Sloan Management Review, Jeffrey Bohn, chief science officer at State Street Global Exchange discusses how he is developing better trading and risk strategies for clients using State Street’s proprietary data and analytics.
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