Why Most Firms Fail to Capitalize on New Technologies
While it is understandable for business leaders to focus on greater efficiency, using AI and other new technologies merely to upgrade current products and processes is not enough. Success lies in questioning longstanding assumptions about the way things are done, and whether they should be done at all.
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BOSTON – From artificial intelligence and electric vehicles to blockchain and composites, we are in a golden age of innovation. To unlock value from these technologies, though, businesses must transform themselves, and, according to a McKinsey & Company study, over 70% of such efforts fall short.