Technology Innovation

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Artificial Intelligence Brings Out the Worst and the Best in Us

As AI develops better decision-making skills, leaders may feel threatened and push back, resisting the imperative to leave their biggest and most critical decisions to mechanical minds. And that might be a mistake, says psychologist Daniel Kahneman, given AI’s potential to reduce the bias in human thought processes.

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Global Competition With AI in Business: How China Differs

AI’s largest and most enduring contributions will be in non-technology sectors, and many of them will come from China. Buoyed by the country’s latest five-year plan and enabled by centralized data, Chinese companies are investing aggressively in AI and adapting their business models to make the most of AI’s potential, but unclear business cases and bottlenecks due to lacking technical capabilities hinder adoption.

The Changing Face of Innovation in China

The art of bian lian — or “face changing” — is integral to Sichuan opera: A main character changes masks to avoid capture by foes. The transformation is quick and surprising, the new face clearly different. In the theater of business, Chinese performers are undergoing a rapid transformation of their own as they seek to evolve from backroom producers to the world’s leading face of innovation.

Three Signals Your Industry Is About to Be Disrupted

Emerging technology and new business models have created new ways of serving customers and allowed digital leaders to disrupt traditional companies. Disruption rarely comes out of nowhere, however: There are common patterns to learn from and three major signals to recognize in evaluating the risk for your industry.

Building the Right Ecosystem for Innovation

As digital disruption expands, many legacy businesses seek partnerships with tech companies to maintain competitiveness in the digital sphere. But instead of a centralized “hub” partnership, some companies find greater success through an adaptive ecosystem model, where partners develop significant projects or innovations together. This type of strategy requires imagination and flexibility.

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The Hybrid Trap: Why Most Efforts to Bridge Old and New Technology Miss the Mark

Mature companies often lack the vision and the commitment to fully commit to new technologies — even when consumers are ready for them. This leads firms to develop watered down products with limited capabilities and leaves them exposed to upstart competitors.

The End of Scale

For more than a century, economies of scale made the corporation an ideal engine of business. But now, a flurry of important new technologies, accelerated by artificial intelligence (AI), is turning economies of scale inside out. Business in the century ahead will be driven by economies of unscale, in which the traditional competitive advantages of size are turned on their head.

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Unpacking the AI-Productivity Paradox

Systems using artificial intelligence increasingly match or surpass human-level performance, driving great expectations and soaring stock prices. Yet measured productivity growth has declined by half over the past decade.

Great Ideas Are Getting Harder to Find

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.

Developing Successful Strategic Partnerships With Universities

Collaborations between companies and universities are critical drivers of the innovation economy. As many corporations look to open innovation to augment their internal R&D efforts, universities have become essential partners. However, companies often struggle to establish and run university partnerships effectively.

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.

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.

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