jerryking + irving_wladawsky-berger   22

The State of AI in the Enterprise - CIO Journal.
Sep 13, 2019 | WSJ | By Irving Wladawsky-Berger.

Tom Davenport, a professor of information technology and management at Babson College in Massachusetts, spoke about this topic a few months ago at the Massachusetts Institute of Technology's Initiative on the Digital Economy. His speech was based on two recent U.S. surveys conducted by Deloitte LLP. Mr. Davenport was a co-author of both reports.
artificial_intelligence  CIOs  Irving_Wladawsky-Berger  Tom_Davenport 
28 days ago by jerryking
Looking Ahead After a Quarter Century Into the Digital Age - CIO Journal
Aug 16, 2019 | WSJ | By Irving Wladawsky-Berger.

* Large economic potential is linked to digitization—and much of it is yet to be captured
* Digital superstars are rising far beyond the U.S. big four and China’s big three
* Digital natives are calling the shots
* Digital changes everything—even industry boundaries
* Agile is the new way to compete
* Playing the platform economy can boost earnings
* Self-cannibalization and innovation are a necessity for digital reinvention
* Going after the right M&A is key
* Effective management of digital transformation is vital—but challenging
* Leveraging and transitioning from digital to new frontier technologies is an imperative


Effective management of digital transformation is vital—but challenging. High incidences of failure can be found across industries and countries regardless of the objectives of the digital transformation, including customer experience, the most common type of transformation.

The report recommends five key actions to improve the odds of a successful digital transformation: shared responsibility and accountability; clarity of objectives and commitment; sufficient resources; investments in digital talent; and flexibility and agility.
artificial_intelligence  digital_economy  industry_boundaries  insights  Irving_Wladawsky-Berger  McKinsey  M&A  millennials  platforms  self-cannibalization 
7 weeks ago by jerryking
The Challenges of Automation in a Fast Changing Economy - CIO Journal. - WSJ
Aug 9, 2019 |WSJ | By Irving Wladawsky-Berger.

“Technological innovation should be embraced,” notes a recent report from the Aspen Institute, a public policy and research organization in Washington. “Automation has been a largely positive economic and social force, and looking forward, automation will be necessary to feed, house, and raise the living standards of a growing and aging population.”

Still, the short-term disruptive impact on individuals and communities can’t be overlooked, the report says.

To better assess automation’s impact, the Aspen Institute takes a two-pronged approach, identifying the challenges for American workers and suggesting solutions. Here is a summary of the findings:

Part I: The Case for Action

“Overall, it is difficult to anticipate every disruptive impact technology can have. But the use of technology to automate work is easier to predict than other impacts because automation is based on machines doing currently identifiable tasks," the report says. "For that reason, automation is the lens technologists, academics, and others use to project technology’s future impact on work, with the understanding that the actual disruptive impact of technology could be broader and more unpredictable.”

The Case for Action reached four major conclusions.

Automation boosts economic growth, creates jobs and improves living standards, but it also presents serious challenges for workers and communities. A number of recent studies have taken a close look at the future of work over the next 10 to 15 years. For example, a December 2017 report by McKinsey & Co. examined in great detail the work that’s likely to be displaced by automation through 2030, as well as the jobs that are likely to be created over the same period. The report concluded that a growing technology-based economy will create a significant number of new occupations that will more than offset declines in occupations displaced by automation. However, many workers will see their jobs change, as future jobs will require different skills.

Moreover, given the increasing importance of talent in our knowledge economy, global superstar firms and cities will continue to attract a disproportionate share of the most ambitious and talented people, presenting serious challenges for the workers and communities left behind.

Investments in education, training and the social safety net have helped mitigate automation’s negative impacts in the past. Technology has been replacing workers and improving productivity ever since the advent of the Industrial Revolution in the second half of the 18th century. In past technology-based economic revolutions, periods of creative destruction and high unemployment eventually subsided. Over time, these same disruptive technologies and innovations led to the transformation of the economy and the creation of new industries and new jobs.

“Investments in education, training, and the social safety net, along with a social contract between employers and workers that provided workplace benefits and protections, have helped mitigate automation’s negative impacts in the past and helped workers succeed in the changing economy,” the report says. These investments made it possible for a growing number of workers to achieve a middle class life-style and aspire to what we think of as the American way of life.

Recent challenges highlight the consequences of limited support for vulnerable workers. While we are hopeful that the country will once more adjust to technological disruptions, there’s no way of knowing for sure. “Today’s workers are especially vulnerable to the impacts of automation. Financial insecurity, an aging workforce, and falling geographic mobility, make it difficult for many to retrain and transition to new occupations following displacement.”

In addition, “Recent history has seen a reversal of efforts to support workers through economic disruption. Disinvestment in public and private sector training, a weakened public safety net, and reduced access to workplace benefits and protections have contributed to the slow and painful economic adjustment many workers and communities have experienced in recent decades.”

Artificial intelligence and other new technologies may lead to deeper, faster, broader and more disruptive automation. Technology is being increasingly applied to activities requiring cognitive capabilities and problem-solving intelligence that not long ago were viewed as the exclusive domain of humans. As powerful technologies like AI and robotics continue to advance, the impact of automation might well be deeper.

Part II: Policies for Shared Prosperity

The report’s second section outlines a concrete policy agenda to address four overarching objectives:

Encourage employers to lead a human-centric approach to automation. This includes expanding apprenticeships, worker-training tax credits and regional workforce partnerships; promoting new forms of worker participation in automation decisions; and introducing proactive strategies to identify and address potential issues.

Enable workers to access skills training, good jobs and new economic opportunities. This includes access to effective and affordable skills training, a system of lifelong learning, wage subsidies as necessary, and programs to promote entrepreneurship.

Help people and communities recover from displacements. Unemployed workers need to be supported through retraining, re-employment services and unemployment insurance. Governments should promote local and regional economic development through targeted strategies to help workers recover and transition and they should also invest in digital infrastructure.

Understand the impact of automation on the workforce. It is important to collect data and provide better information to key stakeholders so they can better anticipate the impact of automation on their industries, communities and occupations.

Irving Wladawsky-Berger worked at IBM for 37 years and has been a strategic adviser to Citigroup, HBO and Mastercard. He is affiliated with MIT and Imperial College, and is a regular contributor to CIO Journal.
automation  disruption  Irving_Wladawsky-Berger 
8 weeks ago by jerryking
The Rise of Global, Superstar Firms, Sectors and Cities - CIO Journal.
Jan 18, 2019 | WSJ | By Irving Wladawsky-Berger.

Scale increases a platform’s value. The more products or services a platform offers, the more consumers it will attract, helping it then attract more offerings, which in turn brings in more consumers, which then makes the platform even more valuable. Moreover, the larger the network, the more data available to customize offerings and better match supply and demand, further increasing the platform’s value. The result is that a small number of companies have become category kings dominating the rest of their competitors in their particular markets.

Network dynamics also apply to metropolitan areas. For the past few decades, the demands for high-skill jobs have significantly expanded, with the earnings of the college educated workers needed to fill such jobs rising steadily. Talent has become the linchpin asset of the knowledge economy, making capital highly dependent on talented experts to navigate our increasingly complex business environment.

“Just as the economy confers disproportionate rewards to superstar talent, superstar cities… similarly tower above the rest,” wrote urban studies professor and author Richard Florida. “They are not just the places where the most ambitious and most talented people want to be - they are where such people feel they need to be.”
cities  clusters  geographic_concentration  hyper-concentrations  Irving_Wladawsky-Berger  knowledge_economy  network_effects  platforms  Richard_Florida  start_ups  superstars  talent  winner-take-all 
january 2019 by jerryking
Silicon Valley Myths Aside, Time Is on the Side of Aging Entrepreneurs - CIO Journal. - WSJ
By Irving Wladawsky-Berger
Aug 31, 2018

Are young entrepreneurs more likely to produce high-growth firms? Can middle-age founders in their 40s be successful?

Age and High-Growth Entrepreneurship, — a recent working paper by economists Pierre Azoulay, Benjamin Jones, J. Daniel Kim and Javier Miranda — aimed to answer these questions.
aging  ageism  entrepreneur  entrepreneurship  high-growth  Irving_Wladawsky-Berger  midlife  myths  Silicon_Valley  founders 
september 2018 by jerryking
Piecing Together Narratives From the 0′s and 1′s: Storytelling in the Age of Big Data - CIO Journal. - WSJ
Feb 16, 2018 | WSJ | By Irving Wladawsky-Berger.

Probabilities are inherently hard to grasp, especially for an individual event like a war or an election, ......Why is it so hard for people to deal with probabilities in everyday life? “I think part of the answer lies with Kahneman’s insight: Human beings need a story,”....Mr. Kahneman explained their research in his 2011 bestseller Thinking, Fast and Slow. Its central thesis is that our mind is composed of two very different systems of thinking. System 1 is the intuitive, fast and emotional part of our mind. Thoughts come automatically and very quickly to System 1, without us doing anything to make them happen. System 2, on the other hand, is the slower, logical, more deliberate part of the mind. It’s where we evaluate and choose between multiple options, because only System 2 can think of multiple things at once and shift its attention between them.

System 1 typically works by developing a coherent story based on the observations and facts at its disposal. Research has shown that the intuitive System 1 is actually more influential in our decisions, choices and judgements than we generally realize. But, while enabling us to act quickly, System 1 is prone to mistakes. It tends to be overconfident, creating the impression that we live in a world that’s more coherent and simpler than the actual real world. It suppresses complexity and information that might contradict its coherent story.

Making sense of probabilities, numbers and graphs requires us to engage System 2, which, for most everyone, takes quite a bit of focus, time and energy. Thus, most people will try to evaluate the information using a System 1 simple story: who will win the election? who will win the football game?.....Storytelling has played a central role in human communications since times immemorial. Over the centuries, the nature of storytelling has significantly evolved with the advent of writing and the emergence of new technologies that enabled stories to be embodied in a variety of media, including books, films, and TV. Everything else being equal, stories are our preferred way of absorbing information.

“It’s not enough to say an event has a 10 percent probability,” wrote Mr. Leonhardt. “People need a story that forces them to visualize the unlikely event – so they don’t round 10 to zero.”.....
in_the_real_world  storytelling  massive_data_sets  probabilities  Irving_Wladawsky-Berger  Communicating_&_Connecting  Daniel_Kahneman  complexity  uncertainty  decision_making  metacognition  data_journalism  sense-making  thinking_deliberatively 
february 2018 by jerryking
Start Spreading the News: Digital Fuels Superstar Cities - CIO Journal. WSJ
Dec 29, 2017 | WSJ | By Irving Wladawsky-Berger.

Superstar companies are primarily driven by economies of scale, generally achieved through platforms and network effects. Whenever a product, service or process is captured in software and digitized, it becomes digital capital and the economics of abundance take over. The more products or services a platform offers, the more users it will attract, helping it then attract more offerings from ecosystem partners, which in turn brings in more users.....The result is that a small number of companies become category kings dominating the rest of their competitors in their particular market – the Facebooks, Googles, Twitters, Ubers and AirBnbs. Category kings generally take over 70 percent of the total market value in their category, leaving everyone else to split the remaining 30 percent.

“Cities have been caught up in this winner-take-all phenomenon, too,” noted Mr. Florida. “Just as the economy confers disproportionate rewards to superstar talent, superstar cities… similarly tower above the rest. They generate the greatest levels of innovation, control and attract the largest shares of global capital and investment.”

Network dynamics apply to cities just as they do for companies and talent. “They have unique kinds of economies that are based around the most innovative and highest value-added industries, particularly finance, media, entertainment and tech; businesses in superstar cities are formed and scaled up more quickly. All of this attracts still more industries and more talent. It’s a powerful, ongoing feedback loop that compounds the advantages of these cities over time.”

But, such a concentration of talent, wealth and economic activity in fewer and fewer places has led to what a recent Economist issue called the changing economies of geography, the rising inequalities between a relatively small number of superstar cities and the many towns and regions that have been left behind by technology and globalization.
Irving_Wladawsky-Berger  cities  winner-take-all  platforms  superstars  network_effects  disproportionality  geographic_concentration  geographic_inequality  feedback_loops  compounded  increasing_returns_to_scale  digitalization 
january 2018 by jerryking
Computing Beyond Moore’s Law - The CIO Report - WSJ
Apr 8, 2016 GUEST VOICES
Computing Beyond Moore’s Law
ARTICLE
COMMENTS (3)
CHIPS
INTEL
MOORE'S LAW
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By IRVING WLADAWSKY-BERGER
Moore's_Law  software  evolution  cloud_computing  Marc_Andreessen  Irving_Wladawsky-Berger 
april 2016 by jerryking
The Rise of the Platform Economy - The CIO Report - WSJ
Feb 12, 2016 | WSJ | By IRVING WLADAWSKY-BERGER.

A platform or complement strategy differs from a product strategy in that it requires an external ecosystem to generate complementary product or service innovations and build positive feedback between the complements and the platform. The effect is much greater potential for innovation and growth than a single product-oriented firm can generate alone.”

The importance of platforms is closely linked to the concept of network effects: The more products or services it offers, the more users it will attract. Scale increases the platform’s value, helping it attract more complementary offerings which in turn brings in more users, which then makes the platform even more valuable… and on and on and on.
Alibaba  Apple  Facebook  Google  IBM  Microsoft  scaling  economies_of_scale  Uber  Salesforce  platforms  ecosystems  network_effects  Irving_Wladawsky-Berger 
february 2016 by jerryking
Measuring Technology’s Impact on the Evolution of Financial Services - The CIO Report - WSJ
Jun 26, 2015 GUEST VOICES
Measuring Technology’s Impact on the Evolution of Financial Services
ARTICLE
COMMENTS
BITCOIN
FINANCIAL SERVICES
IRVING-WLADAWSKY-BERGER
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By IRVING WLADAWSKY-BERGER
Bitcoin  financial_services  Irving_Wladawsky-Berger 
july 2015 by jerryking
The Evolving Automotive Ecosystem - The CIO Report - WSJ
April 6, 2015| WSJ | By IRVING WLADAWSKY-BERGER.

An issue in many other industries. Will the legacy industry leaders be able to embrace the new digital technologies, processes and culture, or will they inevitably fall behind their faster moving, more culturally adept digital-native competitors? [the great game]

(1) Find new partners and dance: “The structure of the automotive industry will likely change rapidly. Designing and producing new vehicles have become far too complex and expensive for any likely one company to manage all on its own.
(2) Become data masters: “Know your customers better than they know themselves. Use that data to curate every aspect of the customer experience from when they first learn about the car to the dealership experience and throughout the customer life cycle. Having data scientists on staff will likely be the rule, not the exception.
(3) Update your economic models: “Predicting demand was hard enough in the old days, when you did a major new product launch approximately every five years. Now, with the intensity of competition, the rapid cadence of new launches, and the mashup of consumer and automotive technology, you may need new economic models for predicting demand, capital expenditures, and vehicle profitability.
(4)Tame complexity: “It’s all about the center stack, the seamless connectivity with nomadic devices, the elegance of the Human Machine Interface.
(5) Create adaptable organizations: “It will take a combination of new hard and soft skills to build the cars and the companies of the future. For many older, established companies, that means culture change, bringing in new talent, and rethinking every aspect of process and people management.
Apple  automotive_industry  autonomous_vehicles  ecosystems  Google  know_your_customer  adaptability  CIOs  layer_mastery  competitive_landscape  competitive_strategy  connected_devices  telematics  data  data_driven  data_scientists  customer_experience  curation  structural_change  accelerated_lifecycles  UX  complexity  legacy_players  business_development  modelling  Irving_Wladawsky-Berger  SMAC_stack  cultural_change  digitalization  connected_cars  the_great_game 
april 2015 by jerryking
The Rise of the On-Demand Economy - The CIO Report - WSJ
March 13, 2015| WSJ | By IRVING WLADAWSKY-BERGER.

we are seeing the rise of what The Economist called the On-Demand Economy in a recent article....Manufacturing jobs have been automated out of existence or outsourced abroad, while big companies have abandoned lifetime employment. Some 53m American workers already work as freelancers....now the sharing economy is evolving into something new. Ubiquitous communications, freelance work forces and low transaction costs are giving rise to the on-demand company, which aims to apply the principles of Uber or Airbnb to a much broader range of markets....A well-managed company strives to achieve an optimal balance between what work gets done within and outside its boundaries.

Advances in information and communication technologies are having a huge impact on the structure of companies....Where is the future of work heading in such an economy? “Freelance workers available at a moment’s notice will reshape the nature of companies and the structure of careers,”...Ubiquitous communications and very low transaction costs are giving rise to a new class of firm, the on-demand company. These firms aim to efficiently bring together consumers and suppliers of goods and services with their highly scalable platforms and innovative applications...
digital_economy  sharing_economy  Uber  Lyft  Ronald_Coase  Coase's_Law  transaction_costs  freelancing  on-demand  Outsourcing  gig_economy  Irving_Wladawsky-Berger 
march 2015 by jerryking
Tracking the Rise and Potential Fall of the Talent Economy - The CIO Report - WSJ
November 14, 2014, 1:56 PM ET
Tracking the Rise and Potential Fall of the Talent Economy
Article
Comments
2
By IRVING WLADAWSKY-BERGER
digital_economy  talent  Roger_Martin  Rotman  Mihnea_Moldoveanu  Irving_Wladawsky-Berger 
november 2014 by jerryking
Why Imagination and Curiosity Matter More Than Ever - The CIO Report - WSJ
January 31, 2014 | WSJ | By Irving Wladawsky-Berger.

How can you foster imagination and curiosity? This was the subject of the 2011 book co-authored by JSB: A New Culture of Learning: Cultivating the Imagination for a World of Constant Change. One of its key points is that learning has to evolve from something that only happens in the classroom to what that he calls connected learning, taking advantage of all the available resources, including tinkering with the system, playing games and perhaps most important, absorbing new ideas from your peers, from adjacent spaces and from other disciplines....How do you decide what problems to work on and try to solve? This second kind of innovation–which they call interpretation–is very different in nature from analysis. You are not solving a problem, but looking for a new insight about customers and the marketplace, a new idea for a product or a service, a new approach to producing and delivering them, a new business model. It requires the curiosity and imagination.
ideas  idea_generation  STEM  imagination  tacit_data  Roger_Martin  Rotman  critical_thinking  innovation  customer_insights  books  interpretation  curiosity  OPMA  organizational_culture  cross-pollination  second-order  new_businesses  learning  connected_learning  constant_change  Irving_Wladawsky-Berger  worthwhile_problems  new_products  mental_dexterity  tinkerers  adjacencies 
february 2014 by jerryking

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