- Research Highlight
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Today’s retailers need to adopt a data-driven view — with the goal of understanding how website features and advances in AI will affect consumer behavior.
A featured excerpt from Big Mind: How Collective Intelligence Can Change Our World. Geoff Mulgan’s new book provides a guide to managing and optimizing collective intelligence. The five fundamental principles Mulgan outlines in this excerpt offer a nuanced answer to the question: “What is it, at the micro and macro levels, that allows collective intelligence to flower?”
A wide range of evidence shows that U.S. research efforts are rising substantially, but at the same time, research productivity is sharply declining. Optimists hope for a fourth industrial revolution that will raise the bar again, while pessimists lament that most potential productivity growth has already occurred.
Artificial intelligence is beginning to replace many of the workplace roles that men dominate. The parts of those jobs that will have staying power are those that rely more heavily on emotional intelligence, abilities such as empathy, persuasion, and inspiration — skills in which women typically excel. In the AI economy, men won’t be as successful as women unless they embrace these differentiator skills.
There are four different pathways that businesses can take to become top performers in the digital economy. Leadership’s role is to determine which pathway the company should pursue – and how aggressively to move.
Executives often look at the network effects of digital platforms as a key source of competitive advantage — without understanding that platforms need to also leverage other factors at play in the local markets and among preferred customers. Network effects can help, but on their own, they offer very limited competitive value.
For young adults accustomed to continually checking their cellphones, even a single day without access to them can be anxiety-producing. What are the implications for executives about managing this constantly connected generation – and their devices – in the workplace?
Bad data is the norm. Every day, businesses send packages to customers, managers decide which candidate to hire, and executives make long-term plans based on data provided by others. When that data is incomplete, poorly defined, or wrong, there are immediate consequences: angry customers, wasted time, and added difficulties in the execution of strategy. Getting in front on data quality is crucial, and presents a terrific opportunity to improve business performance.
Chief information officers need to oversee all of IT — in close collaboration with marketers and the business units. Only then can companies deliver digital experiences that win, serve, and retain increasingly demanding customers.
There was once a time when middlemen were indispensable. Intermediaries facilitated transactions between makers and buyers; they closed the gaps between disconnected entities that required one another for survival; and, within organizations, they interpreted high-level corporate strategy and connected it to front-line execution. But one by one, such intermediaries are being made obsolete by technology.
A study of 250 global companies found that a company’s digital intelligence is informed by four dimensions: strategy, culture, organization, and capabilities. Within these dimensions, the research identified 18 management practices that contribute the most to digital leaders’ financial and market success — and offer a road map for companies seeking to expand their digital know-how.
Business has become too complex for boards and CEOs to make good decisions without intelligent systems. Just as artificial intelligence helps doctors use patient data to make better diagnoses and create individualized medical solutions, AI can help business leaders know more precisely which strategy and investments will provide exponential growth and value in an increasingly competitive marketplace.
In his new book, WTF?, Tim O’Reilly takes issues with the vogue for disruption. “The point of a disruptive technology is not the market or competitors that it destroys. It is the new markets and the new possibilities that it creates,” he writes.
Although traditional financial services companies now offer mass-market financial advice via “robo-advisers,” average U.S. customers seeking investment advice are still underserved — and platform-based digital powerhouses like Amazon are taking notice.
Throughout the 20th century, autos and the auto industry propelled human development, bringing unrivalled utility and flexibility to the way people move. Yet the industry now faces fundamental disruption as vehicle ownership yields to on-demand mobility.
The successful use of analytics in sports, both on the field and off, comes down to integrating analytics within an organization. Three strategies — collaborative analytics, a common language, and accessible technology — are key.
A global survey by the McKinsey Global Institute finds that AI is delivering real value to companies that use it across operations. C-level executives report that when they adopt AI at scale — meaning they deploy AI across technology groups, use AI in the most core parts of their value chains, and have the full support of their executive leadership — they are finding not just cost-cutting opportunities, but new potential for business growth, too.
In his new book Sensemaking, a polemic defending the need for the liberal arts in business, Christian Madsbjerg, the founder of strategic consultancy nReD Associates, argues that leaders shouldn’t try to know everything. Instead, they should try to make sense of something.
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