Rapid advances in AI technologies have generated intense interest and debate about their potential to reshape industries and societies. This book compiles academic papers from "The Economic Perspective of Artificial Intelligence (EPEAI)" conference held at the Ruhr West University of Applied Sciences in Germany, in March 2023. The authors explore the economic dimensions of AI, shedding light on…
The starting point for this book is that digitisation works as a catalyst for society and the organisations therein. A catalyst is something that increases the speed of a process without itself being consumed. It simply produces results faster. Digitisation, if used in the wrong way, can also make a bad situation worse. And it can make wh…
Why do some people appear to obtain a disproportionate share of income and wealth? The French economist Thomas Piketty, in his book Capital in the Twenty-First Century, frames the problem in a rather old-fashioned way as a tussle between capital and labour. His main thesis is that inequality is rising because the rate of return on capital, held disproportionately by the wealthy, exc…
Writing inThe New York Timesduring the midst of the Covid-19 crisis,Thomas Friedman said that, from the time the Coronavirus appearedonward, “There is the world B.C.—Before Corona—and the worldA.C.—After Corona.” This is definitely an After Corona book, and I amcertain there will be many others. Most thinking people recognize theCovid-19 crisis as a turning point in our human affairs,…
But what many people are no longer aware of today is that predicting this devel-opment 70 years ago would have been a risky bet. To understand this better, let ustake a moment to look back at the country’s situation in 1949. After 12 years(1933–1945) of the totalitarian, criminal and aggressive Nazi dictatorship, Germanywas literally in ruins at the end of the Second World War. Not only had…
Australians retire with millions of dollars. It’s not that Australia is necessarilywealthier than any other country, although they certainly rank high on a per capitabasis. Rather, they happen to reach the traditional retirement age with millions ofdollars in their retirement savings accounts. The source of (and credit for) theirwealth is the Australian government who forces workers to save c…
The energy sector accounts for three-quarters of greenhouse gas emissions presently, and consequently, efforts to mitigate the consequences of climate change rely massively on improving the condition of our energy consumption, production and transportation. While many declarations for net-zero futures have been made, it requires a lot of efforts at …
After 50 years of debate on this crucial question, the evidence is increas-ingly strong in favor of “yes.” In the well-known study “Corporate Purpose and Financial Performance,”1 Gartenberg, Prat and Serafeim demonstrate, with a large data sample from more than 900 companies and half a million employees, that companies can achieve better results if they inc…
Conventional wisdom on strategy is no longer a reliable guide. In Essential Advantage, Booz & Company's Cesare Mainardi and Paul Leinwand maintain that success in any market accrues to firms with coherence: a tight match between their strategic direction and the capabilities that make them unique. Achieving this clarity takes a sharpness of focus that only exceptional companies have mastered…
Are you at risk of being trapped in an uncompetitive business? Chances are the strategies that worked well for you even a few years ago no longer deliver the results you need. Dramatic changes in business have unearthed a major gap between traditional approaches to strategy and the way the real world works now. In short, strategy is stuck. Most leaders are using frameworks that were desig…