New research explains why data redistribution is critical to a more competitive platform ecosystem — By Paula Klein As digital marketplaces and platforms continue to dominate many market sectors, the lack of competition is a growing concern: Do the giants have too much control? Should governments intervene, as they do in the EU? So far, U.S. …

In his new book, MIT’s Andrew McAfee says that organizational culture holds the key to business success; here’s why — According to Andrew Mcafee, MIT principal research scientist, author, and co-director of the MIT Initiative on the Digital Economy (IDE), business leaders need to think more like geeks–but not the stereotype you may think. In his new book, The Geek Way: The Radical Mindset that Drives Extraordinary Results due out…

How generative AI will impact the future of work and the trajectory of inequality depends on how it is implemented — By Daron Acemoglu, David Autor and Simon Johnson, MIT Sloan Generative artificial intelligence will have a substantial impact on the future of work and the trajectory of inequality. The technology is currently on a path that emphasizes automation, the displacement of skilled labor, and diminished worker voice due to stepped-up…

The ongoing paradox is why productivity growth is slow despite breakneck tech advances — By Irving Wladawsky-Berger “One of the most enduring macroeconomic puzzles of the last several decades is the pervasive slowdown in productivity growth across industrialized nations, despite breakneck advances in information and communication technologies (ICT) and electronics,” wrote economists Daron Acemoglu, David Autor, and Christina Patterson in their recent paper Bottlenecks…

Before building generative AI apps, it helps to know how work created by AI, humans, or some combination will be recieved. — By Dylan Walsh, MIT Sloan The conversation surrounding artificial intelligence in the labor market has largely focused on the workforce. In what ways might AI assist humans? Where will it increase productivity or creativity? Which jobs will it make obsolete? This framing neglects another part of the equation, according to…

Wikipedia is a case study for human/machine interaction. Will that change with AI? — By Irving Wladawsky-Berger So far, Wikipedia has had a pretty good run. Despite some ups and downs over the past two decades, the English version of the online encyclopedia, the largest and most widely used, holds more than 6.7 million articles worldwide and a base of more than 118,000 active…

Researchers say productivity gains will be the rewards of generative AI — but only if firms take actions now. — By Paula Klein Although generative AI is on everyone’s radar as a viable, transformative tech advancement, businesses aren’t diving in and taking advantage as they should — and that’s a concern, according to two leading researchers. IDE co-director Andrew McAfee and Stanford Professor Erik Brynjolfsson say businesses have been slow…

Study predicts huge productivity gains when AI assists programmers — By Irving Wladawsky-Berger As generative AI and machine learning technologies seep into business use, executives rightfully want to know what the economic and productivity gains will be. In June, McKinsey published The Economic Potential of Generative AI: The Next Productivity Frontier addressing these issues — and found that the impact…

Beyond their use as commerce marketplaces, can platforms accelerate sustainability and reuse? — By Brian Eastwood, MIT Sloan If there’s one constant in the platform economy, it’s change. Platforms started out fueling the matchmaking economy (eBay) and have evolved to further encompass the sharing economy (Airbnb) and the gig economy (Upwork). The next phase: platforms supporting the circular economy, which reuses raw materials…