INSEAD professor Jason Davis, in his podcast, discusses how networking for individual gains can harm companies. His “network agency theory” suggests that personal networking interests may not align with organizational needs, causing issues like overcommitment, insufficient trust, ineffective intermediary roles, and information flow bottlenecks. Davis recommends strategic network management at key employee stages and focused networking skills training as potential solutions.
A Forrester survey on digital strategy emphasizes the importance of allocation of digital budgets for business success. It highlights key practices such as developing internal competencies, working with reliable service providers, and ensuring alignment on budget priorities among stakeholders. The findings revealed a necessity for in-house expertise and proper knowledge transfer to stay competitive amid economic uncertainties. Digital budgets are increasing across all sectors despite potential economic challenges.
AI’s promise of benefiting all is threatened by a growing digital divide between the more and less digitally empowered regions globally, exacerbating the lack of participation, skills, and accessibility, especially in developing regions. Key stakeholders in AI must address this disparity by setting fundamental AI standards, empowering the underrepresented, ensuring diverse representation in AI discussions, scrutinizing data use in AI systems, discussing impacts candidly, and redefining the qualifications for AI professionals.
A webinar organised by digital@INSEAD discussed the impact of AI tools on the workforce. Although AI can replace certain tasks, creative and culturally sensitve tasks less affected. The panellists emphasised the importance of finding suitable applications for AI and fostering greater workplace inclusivity. As AI continues to advance, leaders and employees must build their skills to leverage it effectively. The panel acknowledged issues like trust, confidentiality, and governance as hurdles businesses must overcome.
Businesses often face a challenge of delivering transforming solutions under tight deadlines and smaller budgets, leading to the delivery of temporary solutions over strategic needs. The article addresses this issue, highlighting the role of Minimum Viable Products (MVPs) in empowering companies to adopt technology without overcommitment. These MVPs act as a proof of concept, fostering collaboration, reducing costs, and offering risk mitigation while promoting exploration and optimization of design and delivery.
Technological advancements and shifts in economy pose a risk to job stability, requiring workers to adapt and acquire new skills. The ability to successfully switch careers depends on one’s perception of the meaning derived from their work. Individuals who view this meaning as transferrable tend to rebound from job loss more effectively and are open to career diversification. Managers could assist this transition by aligning the sense of meaning in old and new roles.