Did you ever wonder what happens to your old smartphone when you trade it in for a new one? by Kirk Kardashian Most likely, it’s sold by your cell phone carrier to a phone remanufacturer who refurbishes it and sells it to a price-sensitive consumer who doesn’t want to buy a new one. The market for used phones is large and growing fast. Globally, the secondhand phone market is worth…
In today’s fast-changing business world, AI has the potential to transform industries and unlock unprecedented opportunities. Yet, many industry leaders are uncertain about how to embrace this adoption within their organizations. They question whether it will replace human capabilities or add complexity without delivering tangible benefits. Imagine the possibilities of strategic AI adoption. A staggering 79% of companies have already experienced significant cost reduction through implementation. But, without a well-defined…
American restaurant executives are bracing for another challenging year. While some supply challenges and immediate inflationary pressures have abated, many leaders anticipate hefty annual increases in labor and input costs over the next five years. Restaurants also continue to endure pressure to meet evolving consumer demands in an increasingly competitive environment. A previous article detailed eight “ingredients” for profitable growth—areas of focus that can help restaurants succeed even during a…
Most executives acknowledge that learning is crucial to the performance of their business. But at a recent research workshop that my team and I ran with executives from over 40 companies, it became clear that organizations’ traditional learning models are facing pressure from the emergence of new work models. The participants identified these three learning challenges as the most acute: 1. Increased workloads have reduced learning time. Eighty-eight percent of…
Important as formal training programmes are for developing people, some of the most effective learning happens on the job. More experienced colleagues can be the best coaches. While some educators draw sharp distinctions between coaching and mentoring, a lot of this informal support and advice is essentially mentoring. As well as benefiting the mentee, these one-to-one relationships can be a boon to organisations, not least by aiding succession planning or…
Biodiversity Net Gain (BNG) is an approach to development and planning which aims to leave the natural environment in a measurably better state than beforehand. The objective is that development will impact the environment in a positive way by delivering improvements to ecological networks and the key point is that the improvement is measurable. Liz Hailey - Partner, Head of Property Law What is the requirement? The Environment Act 2021…
The widespread lockdowns which began in March 2020, implemented to contain the spread of the coronavirus (COVID-19) pandemic, caused global supply disruptions and suppressed demand. As a result, euro area output dropped and international trade plummeted. The euro area economy recovered solidly after the first strict lockdowns were lifted in 2020, despite the adverse shocks in 2021 and 2022 associated with global supply bottlenecks, the energy crisis and the uncertainty…
Is it possible to truly empower employees to make their own decisions—even when those decisions could mean life or death? That is the question posed by the Dutch home healthcare organization Buurtzorg, which has radically avoided almost all middle management, allowing its nurse teams to care for their patients as they see fit. A new Harvard Business School case study explores Buurtzorg’s decentralized model in depth, with lessons for institutions…
The researchers, led by the University of Cambridge, developed a device that processes data in a similar way as the synapses in the human brain. The devices are based on hafnium oxide, a material already used in the semiconductor industry, and tiny self-assembled barriers, which can be raised or lowered to allow electrons to pass. This method of changing the electrical resistance in computer memory devices, and allowing information processing…
Over the past few months, AI technology, the surrounding discussion, and learning in the worldwide education community have continued to advance. Back in March, we shared three critical focus areas that continue to guide us as we work towards bringing AI innovation to education. Today, we’re thrilled to announce our recent collaborations with New York City Public Schools, PowerSchool, and Kahoot!, highlight additional AI-powered experiences, and introduce a new AI…
Protect your employees from burnout, prioritize retention, and visualize long-term success.
Flexible work arrangements, such as hybrid and remote models, have become important for talent acquisition and retention in the post-pandemic world. As organizations refine their virtual work practices, it is important to ensure that they are inclusive of neurodiverse employees. Because remote work often lacks concrete time cues and is prone to distractions and information overload, it can present unique challenges for individuals with attention-deficit/hyperactivity disorder (ADHD). If it’s not…
While ChatGPT falls short in this area, alternative approaches have come of age, mostly without people noticing. One of the earliest forms to hit the business scene was co-authored by John D.C. Little at MIT. Little developed algorithms that mimicked PhD econometricians in the way that they detect trends, variations and anomalies in vast data sets such as those generated by optical scanners at grocery stores. To make the intelligence…
Real estate is the ultimate Asset and nobody knows real estate better than Pavlos Loizou, the CEO of Ask Wire. We asked everything from real estate to AI, food and the Royal Family. He delivered perfectly. Where would you invest 1 million euros in real estate right now (any country), and why? I would invest in an ETF, i.e. a financial instrument that invests in funds that own real estate.…
Digitalisation has boosted some European firms’ productivity, but many are still on the digital sidelines. That is a pity as faster digital adoption could make our economies much more productive. This ECB Blog post looks at where and how digitalisation can be a game-changer. By Robert Anderton, Vasco Botelho and Paul Reimers Digitalisation promised to be a productivity gamechanger, yet we are still facing a “productivity paradox” at the aggregate…
Investing in innovation — not cutting costs — will position companies to thrive in the long run.
Economic activity indicators in May suggest that China is having a tough time shaking off the multitude of crises it's facing – consumer spending, real estate, a shrinking population – and now growing concerns over the prospect of a debt crisis for local governments. The story according to May figures First and foremost, growth is becoming balanced again, but that's not necessarily good news. Up until now, weak consumer spending…
A while back, my strength and conditioning coach asked me to work on jumping. while back, my strength and conditioning coach asked me to work on jumping. Jumping onto boxes and off of them, hopping on one leg, then the other, then both. I was confused. I was training to run ultramarathons—trail races longer than 26.2 miles—so why did I need to practice jumping in place? I told my coach…
Understanding and improving the Employee Net Promoter Score (eNPS) can play a pivotal role in your organization's success. This critical measure can contribute to successful recruitment, retention, and cost management, and even help tackle labour shortages. Understanding eNPS Unlike traditional five-point scales, the eNPS uses an 11-point measure, making it more granular and nuanced. Employees are categorized into promoters (highly engaged), passives (satisfied but less enthusiastic), and detractors (less satisfied…
Pricing a new product or service can be confusing, and founders—be they first-timers who’ve just shipped their MVP or veterans whose products have been in market for years—are often unsure how much time they should be spending on pricing strategy. Pricing can be particularly tricky for B2B fintech companies, which have multiple paths to monetization (e.g., some combination of SaaS vs. transactional revenue, or freemium vs. subscription). B2B fintech companies…
Pervasive societal inequity in the United States is strikingly evident in the start-up world. In 2022, Black and Latino founders received only 1 percent and 1.5 percent respectively of total US venture capital (VC) funding. Women-founded teams received 1.9 percent of VC funds, and only 0.1 percent of VC funds went to Black and Latino women founders. It’s a gap that persists through each stage of growth. Looking at the…
“The great thing about AI is that it is constantly evolving. One day it will be better than a real [girlfriend]. One day, the real one will be the inferior choice.” This quote is from one of more than 20,000 users who joined the early community of CarynAI, a voice chatbot created by influencer Caryn Marjorie. Users pay $1 per minute to talk to an AI version of Caryn—your “virtual…
House-owners the world over consider ‘knocking through’ walls to achieve more open-plan living or changing layouts to accommodate new arrivals or circumstances. The results may be impressive, but they come at a sizeable financial and environmental cost. But what if it wasn’t necessary to demolish internal brick and/or plaster walls and build new ones? By: Ana Gatóo - Ron Bakker In June 2023, researchers at Cambridge’s Centre for Natural Material…
Depression is the leading cause of disability worldwide. Anxiety disorder will affect almost one-third of U.S. adults during their lifetime. Problems of mental health are burdensome and ubiquitous. And while it’s true that AI holds tremendous potential for improving the science and practice of psychotherapy, it remains a definitively high-stakes area. The goal is not simply to increase the efficiency of treatment but also to improve lives — and avoid…
In an era defined by advancements in technology, AI has the potential to revolutionise nearly any industry. The financial services industry is no different, and a plethora of financial services, including banks and asset managers, have already recognised the benefits of incorporating AI into their operations. AI is reshaping the financial landscape by streamlining customer interactions, enhancing operational efficiency, and driving innovation. Let’s explore the impact of AI innovation in…
With many in the computer science industry naming the metaverse as the next iteration of the internet it should come as no surprise that this concept is projected to grow from USD 22.79 billion in 2021 to USD 996.42 billion in 2030 according to GlobalData. This prediction denotes that the hype around this ever-emerging global technological phenomenon is still on the rise and as a direct result, innovation of the…
What’s the latest thinking in fiscal and monetary policy? The Hutchins Roundup keeps you informed of the latest research, charts, and speeches. Taxpayers in the 90th to 99th percentile of the income distribution are responsible for the majority of the $500 billion in taxes that go unpaid every year. Using internal IRS information, William C. Boning of the U.S. Treasury and co–authors find that auditing these earners could generate revenues which…
It’s never too early to start thinking about your legacy.
It’s easy to go along to get along: give lots of managers an equal say and allot each division its “fair share” of capital. Usually, however, a laissez-faire approach underserves a corporation’s most promising opportunities for growth. Companies typically provide lump sums to division heads, often in proportion to current revenue; choices about funding get pushed across the organization and down its hierarchies, with the result that historic performance repeats…
Corporate Rebels are dedicated to exploring and sharing the most innovative and forward-thinking approaches to work, to help organisations on their way to becoming progressive. In this episode of Never Mind the Pain Points, our in-house performance psychologist Suzie chats to Corporate Rebels Co-founder Pim de Morree about what high-performing teams look like within different kinds of businesses, and how organisations can set themselves up for success. Listen here or…
Ever since the United Nations started publishing population figures, about 75 years ago, the top of the tables has been boringly the same: China at #1, India at #2. But last week, the UN declared that a historic change was imminent: that India’s population was expected to reach 1,425,775,850 in a matter of days, which meant it would match—and then surpass—China’s population. by Matthew J. Slaughter and Matthew Rees The…
The experience of today’s workforce is complex, and the future promises to be just as challenging. Communities, companies, leaders, teams, and individuals struggle to align to purpose, ensure their time and talents are used wisely, and contribute to something meaningful. Lack of resources — everything from technology to trucks to personnel to finances to time — is getting in the way of motivated, dedicated employees delivering the impact they want…
We regularly publish a summary of reports compiled by our 12 regional Agents following discussions with at least 700 businesses across the UK every reporting period.
Google’s Yossi Matias and WMO Director of Infrastructure Anthony Rea discuss the Early Warnings For All Initiative.
Greek philosopher Heraclitus once wrote, “There is nothing permanent except change.” Recent world events will testify to that with seismic shifts in the way we live and work. In times of uncertainty, we cling to routine as a safe harbour in a storm. For some, that can be the day-to-day routine of work, but when that foundation changes, uncertainty will prevail. Changes to business operating models impact our sense of…
Currently the youngest demographic, Generation Alpha is becoming an increasingly more important customer base for the beauty industry to target. Gen Alpha consists of those born between 2010 and 2024 and is projected to consist of at least 2 billion individuals. This generation’s ties to digital media and technology are more powerful than any other, which is key for forward-looking companies navigating today’s landscape. So, how will Gen Alpha impact…
Autonomous vehicles, also known as self-driving cars, have the potential to truly revolutionize the transportation industry, with their impact anticipated across many industries. Several stubborn obstacles, however, stand in the way of mass adoption. In the over 150 years since the automotive industry was founded, it has never experienced such rapid innovation and transformational change as it is currently experiencing. Since the advent of the horseless carriage in the 1860s,…
If skulls were transparent, you still wouldn't see much going on in someone else's brain. But Josef Parvizi (Stanford) has ways of peeking into people's heads and finding out what makes us tick. His experiments have pinpointed specific brain regions crucial to capabilities ranging from perceiving faces to recognizing numerals. Ever wonder where in your brain that interesting character called "I" lives? Stanford Medicine physician-scientist Josef Parvizi, MD, PhD, has news of…
The headlines are full of grand and sometimes terrifying speculation about the potential of artificial intelligence. At Yale SOM’s CEO Summit recently, Prof. Jeffrey Sonnenfeld asked business leaders for some real talk about how their companies are using the technology. Jeffrey A. Sonnenfeld Senior Associate Dean for Leadership Studies & Lester Crown Professor in the Practice of Management Steven Tian Director of Research, Chief Executive Leadership Institute Amidst all the…
One of the most common questions I get asked as a coach is: What are the account management skills I need to keep my customers for as long as possible? The answer is simpler than most people expect: Learn how to hunt and farm. Traditionally, sales and account management has been divided into what psychotherapist Thom Hartmann calls the hunter mindset and the farmer mindset. The hunter mindset (sales) is…