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Driving Operational Cost Savings With the Internet of Things

  • Read Time: 3 min 

AI and IoT offer significant benefits — as yet untapped — for facilities maintenance. In most large companies, maintenance and repair is done piecemeal with tremendous inefficiency, something automated, data-centered management practices could reduce. Operations executives should take notice, because the companies that allocate resources toward putting technology to work in this area are likely to gain an important competitive advantage.

We Must Rescue ‘Win-Win’ From Its Buzzword Status

Companies tend to compete not as individual entities, but as members of networks — which makes collaboration a strategic necessity, not merely a tactical choice. But while many executives say they want win-win solutions, in reality, they usually seek victories that don’t excessively annoy their counterparts. In other words, “win/no-lose” is a more accurate description.

Seizing Opportunity in Data Quality

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.

Are AI Learning Scenarios Unpredictable Enough?

  • Read Time: 4 min 

AI’s strength is processing input from many signals quickly to build an accurate short-term estimate of what will happen. But sooner or later, AI must confront the dark side of human behavior in real-world situations — where people don’t always respond in ways that make sense. The concern: When people know what AI will do, but AI can’t predict how people may behave, there’s an opportunity to “game the system” in ways that hurt businesses that use AI.

Give Technical Experts a Role in Defining Project Success

Poor communication between managers and technical experts is an obstacle to technology innovation that literally has been present for centuries. To overcome these issues, leaders need to absorb three key lessons about how to manage the inherent tensions between defining technical requirements and achieving valuable business outcomes.

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What the Military Can Teach Organizations About Agility

  • Read Time: 6 min 

Once bastions of command-and-control management style, U.S. military institutions have moved to the forefront of organizational and leadership agility. Today’s military leadership emphasizes efficient movement through four decision cycles — observe, orient, decide, and act — to speed up its response to external threats. It’s also investing significant resources to become more agile and experimenting with innovative solutions.

Are You Taking the Wrong Approach to Digital Transformation?

  • Read Time: 5 min 

Our research suggests that the approach many companies take toward digital transformation may be misguided. Early and developing companies push digital transformation through managerial directive or by technology provision. In contrast, maturing companies use an approach that cultivates conditions in which transformation can occur.

Digital Transformation on Purpose

As digital technology advances, the opportunity to use it to create a more sustainable, equitable world should not be overlooked. The first step: Define key terms and set up a framework for understanding how the digital revolution can also become a revolution for sustainable development.

Don’t Get Caught in the Middle

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.

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Business Needs a Safety Net

As the effects of climate change become more prominent, business needs to grapple with its own attitudes toward government. A more destructive physical environment requires a more nuanced relationship in which government is viewed as a partner in enabling and supporting markets rather than as a regulator that needs to be managed.

Focusing on What 90% of Businesses Do Now Is a Big Mistake

It’s not smart to base any part of your strategy on what you see in the rear-view mirror — and that’s particularly true when you develop strategies for navigating modern, thorny environmental and social challenges. The norms and expectations about how companies manage sustainability issues are shifting fast: Just six years ago, only 20% of the S&P 500 companies produced sustainability reports, while by 2016, 82% did. Change is coming to business — and executives need to adjust.

Sustaining Advantage With Transitory Technologies

Just when you have your data collection and analysis systems in place, technology changes mean that your company needs new, updated systems. This is a problem for many companies — but it can also be an opportunity. Organizations that work with data from old and new equipment can learn more about the shortcomings that modern techniques have in this context and can gain advantage in developing tools that no one else has.

Why Companies Should Report Financial Risks From Climate Change

Meeting the recommendations for disclosure put forth by the Task Force on Climate-related Financial Disclosures might seem like a tough job. But if the oil & gas industry is any example, it’s not as difficult as some might imagine — and there are excellent reasons for corporate boards to consider it.

Your Company Doesn’t Need a Digital Strategy

As sexy as it is to speculate about new technologies such as AI, robots, and the internet of things, the focus on technology can steer the conversation in a dangerous direction. Because when it comes to digital transformation, digital is not the answer. Transformation is. In various industries, including banking, paint, and shipbuilding, digital leaders are finding that technology’s value comes from doing business differently because technology makes it possible.

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Justifying Human Involvement in the AI Decision-Making Loop

  • Read Time: 4 min 

Though AI is far from perfect, vast training data has given smart systems formidable accuracy in making independent decisions. Yet even as these decision-making capabilities improve, a Cold War history lesson reminds us that human involvement may still be needed to avoid intolerable consequences of incorrect AI decisions.

AI in the Boardroom: The Next Realm of Corporate Governance

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.

Putting an End to Leaders’ Self-Serving Behavior

Business leaders are often selfish. They honestly think they are entitled to more resources than anyone else, and that they have earned the right to take more. Their self-serving behavior is usually enabled by their organizations. But three strategies can help: Organizations can choose leaders who tilt away from self-serving frameworks; create systems that reinforce fairer evaluations; and recognize the added complexities that arise on the global stage.

Showing 21-40 of 1021