Financial Innovation

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The Best of This Week

  • Read Time: 2 min 

This week’s must-reads for managing in a digital age: What the U.S. is getting wrong about the race for powerful AI, why putting culture front and center when managing is important, Facebook faces cryptocurrency hurdles, and why sports analytics fail in the playoffs.

Learning From China’s Digital Disrupters

Digital newcomers who understand their consumers can change the economic status quo. This has been true in China and its banking industry in recent years. The financial arms of Alibaba have used powerful consumer experience insights from their digital ecosystems — and altered the nature of competition for incumbents in the process.

Navigating the Next Wave of Blockchain Innovation: Smart Contracts

Blockchain represents more than just cryptocurrencies and digital cash. The decentralized ledger system provides a platform for smart contracts, which are digital agreements that are fast, secure, and require no third party.

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Seeing Beyond the Blockchain Hype

Blockchain has recently taken center stage in the conversation about management’s digital makeover. Many believe the impact of blockchain on the ways organizations function and produce value may be greater than other technologies that have grabbed most of our recent attention — data and analytics, the cloud, even artificial intelligence.

Better Data Brings a Renewal at the Bank of England

The Bank of England, one of the world’s oldest and most influential central banks, has made analytics excellence a key pillar of its mission to promote economic stability within the United Kingdom. Like other central banks, the Bank has relied on data and analytics to formulate policy recommendations. But, since 2008 when it regained its status as a regulator, the Bank has begun using its access to new forms of data to increase its insights and forecasting abilities about the British economy.

Lessons From Hollywood: A New Approach To Funding R&D

Could science-based industries benefit from a financing model similar to one used to make Hollywood movies? “We propose that a form of governance centered on the project rather than the company may be a more efficient way to organize innovation in science-based industries,” write the authors. Their proposal addresses the fact that traditional venture capital “wasn’t designed to deal with the costs, risks, and slow payout of science-based industries.”

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Clayton Christensen on innovation

A leading expert on disruptive innovation discusses a range of topics — from health care to innovation in financial markets –in an interview published in MIT Sloan Management Review.

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The Case for Expressive Systems

A NEW KIND OF INFORMATION SYSTEM IS EMERGING THAT WILL REDUCE THE TIME TO MARKET, HELP TAILOR PRODUCTS AND SERVICES TO customers’ needs, and make processes more responsive to unexpected events. Expressive systems allow users to adapt quickly and easily to exceptions from standard operating procedure. The authors describe how expressive systems work and suggest ways of modifying the roles and structure of IS departments to implement the new technology.

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