If you were asked to pick a single word to describe the world over the past few years, what would it be? I can’t think of a better word than “disruptive!” The chain of events began with the 2020 pandemic, prompting lockdowns that paralyzed the economy. Job losses led to …more
PROS has fortified its market position through a combination of common moats. With a renowned brand, proprietary AI, strategic customer relationships, and robust R&D investment, we stand as a formidable player. But PROS also has a very distinctive moat – the unique synergy between our Travel and B2B.
The simple and fundamental truth is that not all moats are created equal. The traditional barriers to entry, such as brand recognition, network effects, and economies of scale, while effective in their own right, are still vulnerable to the relentless march of time and competition. Nvidia and TSMC had developed highly unique moats.
Most successful companies that stand the test of time usually have some kind of moat. Cost (economy of scale, efficient supply chain, low-cost supplier, efficient operation), intangible assets (brand, regulation, IPs), and switching cost (network effect, integration complexity) are some common moat strategies.
Have you ever experienced a time when you were so immersed in what you were doing that you forgot about your physical feelings and the passage of time? This highly rewarding mental state is known as flow, and it is studied and characterized by a renowned psychologist Mihaly Csikszentmihalyi.
Today, XAI is proving that the infamous “black box problem” is really not a problem after all. Business leaders who continue to scapegoat the use of AI due to its black-box nature are essentially foregoing an efficient and reliable way to optimize their business decisions for something that is only a problem of the past.
Barry hosts a popular podcast where he interviews thought leaders, industry experts, and successful entrepreneurs, delving into a wide range of topics related to leadership, innovation, and personal growth. Today, I’m one of the few lucky ones who had the opportunity to talk to Barry and share some of my own unlearning moments.
What makes a black box model uninterpretable is just complexity, nothing more! And the black box problem is an inherent inability of our human brain to distill those complex models down to something simple enough for us to explain in English.
While digital transformation has long been an effort undertaken by many global enterprises, the challenge today lies in differentiating your eCommerce business in an increasingly crowded digital market. So, how can a business stand out in this vast digital economy? For those that have succeeded, the secret ingredient is almost always Artificial Intelligence (AI)
The fear for AI is even more imminent with the advent of large language model (LLM) like ChatGPT (OepnAI), LLaMA (Meta), LaMDA (Google), etc. What must be done to reassure employees, while still ensuring the business reaps the benefit of AI and evolve as necessary?
Once work is virtualized, it can be digitized, tracked, turned into data, and used to train an AI system to mimic how we work. This will start with the most repeatable tasks, but AI will eventually automate some creative activities also. But before this can happen, more of the physical work must be shifted into digital work so it can be easily tracked and turned into training data.
To understand AI in ways that drive business, we must start with something that business is familiar with — business intelligence (BI). BI provides data and analytics to help business leaders make more informed decisions. Over the years, BI has evolved to include three basic types of analytics.