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Organizations Combining Organizational Learning and AI-Specific Learning Are up to 80% More Effective at Managing Uncertainty

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New MIT SMR and BCG Research Quantitatively and Qualitatively Links Organizational Learning, AI-Specific Learning, and the Ability to Manage Rapidly Changing Business Environments

BOSTON, Nov. 12, 2024 /PRNewswire/ — Addressing uncertainty is a critical challenge for leaders today as geopolitical tensions, shifting consumer preferences, talent disruptions, evolving regulations, and rapid technological advancements increasingly complicate the business landscape. According to a new report by MIT Sloan Management Review (MIT SMR) and Boston Consulting Group (BCG), artificial intelligence, a major source of uncertainty in its own right, is essential for meeting this challenge.

The report, Learning to Manage Uncertainty, With AI, presents findings from the eighth annual global research study on artificial intelligence and business strategy by MIT SMR and BCG. It draws from a global survey of 3,467 respondents across 21 industries and 136 countries, along with interviews with nine executives leading AI initiatives in sectors such as financial services, technology, retail, travel, transportation, and health care.

“AI adoption jumped 20% last year, driven by interest in generative AI, as 91% of organizations now expect GenAI to be core to the strategy in at least parts of their organization,” said report coauthor Sam Ransbotham, professor at Boston College. “This increased AI use isn’t causing workers to panic about their jobs, with respondents far more hopeful (84%) than fearful (20%). Instead, augmenting organizational learning with AI-based learning enhances the knowledge capture, synthesis, and dissemination that organizations depend on to manage the myriad uncertainties they currently face.”

“Our previous research found that organizations with superior learning capabilities are more likely to obtain significant financial benefits from their AI use,” said Shervin Khodabandeh, a BCG managing director, senior partner, and coauthor of the report. “Now we find that the reverse is also true. Using AI can improve organizational learning capabilities, and these learning improvements are tied to not only enhanced financial results but also the ability to manage strategy-related uncertainties.”

Most Organizations Lack Strong Learning Capabilities Despite Facing Widespread Uncertainty

The report defines organizational learning as “an organization’s capability to change its knowledge through experience.” The research finds that organizations that combine organizational learning with AI-specific learning outperform organizations that do neither or employ either alone.

Of the companies surveyed, 59% reported low levels of both organizational and AI-specific learning and only 29% of respondents say their company has strong organizational learning.

Organizations Combining AI and Learning See Greater Success  

According to the report, 15% of organizations integrate AI into their learning capabilities. These organizations — referred to in the report as Augmented Learners — are:

1.6 times more likely than those with limited learning capabilities to manage various environmental and firm-specific uncertainties, including unexpected technological, regulatory, and workforce changes.Twice as likely to be prepared to manage talent-related disruptions compared with organizations that have limited learning capabilities.60% to 80% more likely to be effective at managing uncertainties in their external environments than Limited Learners—companies with limited learning capabilities.1.4 times more likely to recognize some revenue benefits from AI compared with Limited Learners.

Augmented Learners Are Prepared to Manage Many Types of Uncertainty

Organizational learning and AI-specific learning (augmented learning) help enterprises manage uncertainty and disruptions from talent mobility, changing technology, and evolving regulatory and legal requirements. The survey results show a clear link between organizational learning and preparedness for talent mobility disruptions. Only 39% of Limited Learners feel ready to manage knowledge loss from departing employees, while this rises to 64% in those with strong learning capabilities. Using AI can further contribute to this readiness: Eighty-three percent of Augmented Learners are prepared to deal with the uncertainty of knowledge disruption from talent mobility—twice as much as Limited Learners.

Compared with Limited Learners, Augmented Learners are significantly more likely to be prepared to deal with uncertainty from technology disruptions (86% versus 49%) and regulatory disruptions (79% versus 48%). On the regulatory front, large organizations with global operations can use AI to navigate complex, uncertain regulatory frameworks that vary from one country to the next. Augmented learning organizations have an advantage here because they have abilities that those unable to learn with AI lack.

“This research demonstrates that human users can use AI to make sense of the business environment in new ways,” said David Kiron, a report coauthor and editorial director, research, at MIT Sloan Management Review. Both organizations and managers can become better learners with AI. That is arguably at least as important as using AI to create efficiencies.”

“Companies can adopt five practical and actionable strategies to enhance their organizational learning through AI,” said Leonid Zhukov, vice president of data science at BCG and a coauthor of the report. “These strategies include fostering growth in both organizational and AI-driven learning, leveraging AI to drive exploration, accelerating learning with AI, selecting initiatives that support continuous learning, and ensuring responsible and ethical AI usage.”

The State of AI in Business

Since 2017, MIT SMR and BCG have tracked AI implementation in business as part of an ongoing research program. The report details evidence of other trends in AI use in business beyond the relationship between AI use and organizational learning:

Interest in AI, Especially GenAI, Is Increasing. Since 2017, AI adoption has been relatively stable, but this year, 70% of organizations report piloting or deploying AI solutions, up from 44% to 57% in previous years. More than 54% of organizations are now piloting or deploying GenAI solutions.GenAI Is Drawing Attention. Ninety-one percent of organizations report that their leadership expects generative AI to be a core element of their business strategy in at least some of their business units in the next three years. While 26% of organizations surveyed feel GenAI is diverting funds from traditional AI initiatives, 51% report that it is expanding their overall AI budget. Only 11% find it distracting, and just 13% believe their organization is overly focused on it.Hopes for AI Are Outpacing Fears. In 2024, 84% of respondents are hopeful that AI can assist with some of their tasks, up from 70% in 2017, while only 20% are fearful that AI will assume some of their tasks, down from 31%.Emergence of GenAI Upsets Strategic Plans for AI Use. Since 2020, MIT SMR and BCG have tracked AI’s importance in business strategy. In 2020, 41% of respondents viewed AI as core to their strategy, rising to 61% by 2023. However, in 2024, only 38% consider AI to be core, likely due to the impact of GenAI as executives reassess its role in their strategies.

Download the publication here: https://www.bcg.com/publications/2024/manage-uncertainty-with-organizational-learning-ai

Media Contacts:

Eric Gregoire:
+1 617 850 3783
gregoire.eric@bcg.com 

Tess Woods:
+1 617 942 0336
Tess@TessWoodsPR.com 

ABOUT BOSTON CONSULTING GROUP
Boston Consulting Group partners with leaders in business and society to tackle their most important challenges and capture their greatest opportunities. BCG was the pioneer in business strategy when it was founded in 1963. Today, we work closely with clients to embrace a transformational approach aimed at benefiting all stakeholders—empowering organizations to grow, build sustainable competitive advantage, and drive positive societal impact.

Our diverse, global teams bring deep industry and functional expertise and a range of perspectives that question the status quo and spark change. BCG delivers solutions through leading-edge management consulting, technology and design, and corporate and digital ventures. We work in a uniquely collaborative model across the firm and throughout all levels of the client organization, fueled by the goal of helping our clients thrive and enabling them to make the world a better place.

ABOUT MIT SLOAN MANAGEMENT REVIEW
At MIT Sloan Management Review (MIT SMR), we explore how leadership and management are transforming in a disruptive world. We help thoughtful leaders capture the exciting opportunities—and face down the challenges—created as technological, societal, and environmental forces reshape how organizations operate, compete, and create value.

MIT SLOAN MANAGEMENT REVIEW: BIG IDEAS
MIT Sloan Management Review’s Big Ideas Initiatives develop innovative, original research on the issues transforming our fast-changing business environment. MIT SMR conducts global surveys and in-depth interviews with frontline leaders working at a range of companies, from Silicon Valley startups to multinational organizations, to deepen our understanding of changing paradigms and their influence on how people work and lead.

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SOURCE Boston Consulting Group (BCG)

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Stryker launches next generation of SurgiCount+ to help improve the standard of care in hospitals for sponge management and blood loss assessment

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PORTAGE, Mich., USA, Nov. 14, 2024 /PRNewswire/ — Stryker (NYSE:SYK), a global leader in medical technologies, announced its launch of the next generation of SurgiCount+ within its sponge management portfolio. Now integrated with Stryker’s Triton technology, SurgiCount+ addresses two key challenges: retained surgical sponges and blood loss assessment. Integrating these previously separate digital solutions provides the added benefit of a more efficient, streamlined workflow for hospitals.

Maternal mortality has been rising in the U.S. for decades,1 with approximately 50,000 cases of severe maternal morbidity occurring each year.2 Notably, 70% of pregnancy-related deaths due to hemorrhage are preventable.3 Stryker’s Triton software includes AI technology that can differentiate blood from other fluids and a Bluetooth scale that batch weighs blood-soaked items to help assess blood loss. This provides hospital staff with real-time information to help coordinate the clinical team’s hemorrhage response and make informed patient care decisions.

Surgical sponges continue to be the number one retained surgical item with 88% of retained surgical items occurring with a false correct count.4 For nurses trying to locate a missing sponge in the operating room (OR), that can take up to 10 minutes on average.5 Stryker’s SurgiCount+ software helps address these problems by featuring a wireless reader that counts, tracks and locates surgical sponges in the OR. RFID-tagged sponges enable unique identification, eliminating false-correct duplicate or unknown counts.

“We are committed to helping keep caregivers and patients safe from harm,” said Brandon Jominy, vice president and general manager of Stryker’s Surgical Technologies business. “Integrating our SurgiCount+ and Triton technologies on one platform will set a new industry standard for quantifying blood loss and continuing to help reduce retained surgical sponges in the OR.”

Additionally, recent studies show that nurse burnout is affecting more than half of all U.S. nurses.6 By integrating these two technologies into one solution, it provides additional benefits to hospitals and staff which includes:

Helping save time by standardizing clinical protocols for chartingSimplifying workflows and aggregating case data with backend dataHelping reduce manual data entry errors through real-time EMR integrationTracking and communicating patient information with one seamless workflow

For more information about Stryker’s SurgiCount+ integrated with Triton please visit safeor.com/products/surgicount-triton.

About Stryker
Stryker is a global leader in medical technologies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in MedSurg, Neurotechnology, Orthopaedics and Spine that help improve patient and healthcare outcomes. Alongside its customers around the world, Stryker impacts more than 150 million patients annually. More information is available at stryker.com.

Media contact
Beth Sizemore
Sr. Director, Strategic Communications
beth.sizemore@stryker.com

 

1. Hoyert DL. Maternal mortality rates in the United States, 2021. NCHS Health E-Stats. 2023. DOI: https://dx.doi.org/10.15620/cdc:124678

2. Callaghan, W.M., Creanga, A.A. and Kuklina, E.V. (2012) “Severe maternal morbidity among delivery and postpartum hospitalizations in the United States,” Obstetrics & Gynecology,120(5), pp. 1029–1036. doi:10.1097/aog.0b013e31826d60c5.

3. Building U.S. Capacity to Review and Prevent Maternal Deaths. (2018). Report from nine maternal mortality review committees. https://www.cdcfoundation.org/sites/default/files/files/ReportfromNineMMRCs.pdf

4. Gawande, A. A., Studdert, D. M., Orav, E. J., Brennan, T. A., & Zinner, M. J. (2003). Risk factors for retained instruments and sponges after surgery. The New England Journal of Medicine, 348(3), 229–235. https://doi.org/10.1056/NEJMsa021721 

5. Double-blinded survey of 154 Operating Room Nurses from 154 different facilities across the United States. Data on file internally. Conducted August 2020.

6. Rotenstein, L.S., Brown, R., Sinsky, C. et al. The Association of Work Overload with Burnout and Intent to Leave the Job Across the Healthcare Workforce During COVID-19. J GEN INTERN MED 38, 1920–1927 (2023). https://doi.org/10.1007/s11606-023-08153-z

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SOURCE Stryker

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14,000 Consumers Weigh In: Kearney Consumer Institute Releases Keeping Up with the Consumer – New Report Identifies Key Tension Points Informing Consumer Choices, Brand Selection, and What’s Behind “Unpredictable” Consumer Behavior

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Key Findings:

Brands are pumping out more choices than consumers need or want.Consumers streamline their needs spending to enable discretionary spend.Brands and retailers need to revert to EQ and great merchandising.

CHICAGO, Nov. 14, 2024 /PRNewswire/ — The Kearney Consumer Institute (KCI), an internal think tank of global strategy and management consultancy Kearney, today released a consumer research report that upends much of the conventional wisdom around brand proliferation, over-reliance on data, and consumer choices. Based on survey data from 14,000 consumers across the US, Europe, and APAC, Keeping Up with the Consumer examines buyers’ unpredictable, seemingly quixotic behaviors, identifies the underlying tension points that explain them, and concludes that brands are massively under-accounting for the human element that drives purchase decisions.

“Brands have more data than ever about consumer demographics, behavior, spending, and opinions. But we still often categorize consumer behavior as ‘unpredictable.’ To understand why, our research found three key consumer tensions that help explain this behavior,” notes KCI lead Katie Thomas. “As options and access grow, consumers’ lives are only getting more complicated. Sometimes we get lost in one side of a narrative, without realizing the strain it puts on consumers.” The research identified the following three friction points:

Options vs. overload: Consumers seem to expect a product that suits each type of skin, diet, or fitness need. Yet, in many major categories, most consumers believe there’s already plenty to choose from—if not too much.

Curation vs. control: Two out of three consumers say they like making all their decisions themselves. But it’s logical that consumers want (and need) some level of curation to make sense of all their options.

Facts vs. feelings: Consumers want to “do their own research” (and they trust themselves more than they trust brands and institutions), but have limited reserves of time, energy, and motivation.

Keeping Up with the Consumer explores consumer shifts since 2016, when the KCI released The Future Consumer. Then, brands were focusing on the power of influence, a socially driven approach centered on “authenticity.” However, as the “influence” approach became more common, it lost some appeal and started to feel less authentic. Meantime, dramatic changes to the consumer landscape—from COVID-19 to political unrest to the emergence of new social media and shopping platforms—helped consolidate this massive shift.

The research suggests that retailers and brands aren’t striking the right balance between facts versus feelings, curation versus control, and too many choices. Noted Thomas, “When retailers and brands balance the tension, applying emotional intelligence and great merchandising, they will better navigate the mindset of the future consumer to address their needs.”

“Here, we see the push–pull between consumers and brands,” Thomas says. “Sometimes brands should lead consumers forward; but sometimes, the better choice is following consumer behavior. The key is understanding the complex, nuanced, and sometimes unexpected tensions that will crop up next.”

Read the full report by clicking this link.

For more information, or to schedule an interview with Katie Thomas or receive a copy of the Keeping Up with the Consumer report, please contact:

MKPR/Meir Kahtan
+1 917-864-0800
mkahtan@rcn.com

About the Kearney Consumer Institute

The Kearney Consumer Institute (KCI) perspective. By leveraging consumer behavior data and insights, the KCI helps generate conversation, and ultimately action, around how to address consumer needs with meaningful benefits.

Using a consumer-first lens the KCI looks at today’s consumer revolution not by thinking about consumers, but by thinking like consumers. Our consumer-centric approach includes simple, precise, plain-language conversations on topics like trends, consumer communities, convenience, loyalty, service, fair pricing, and product development and technologies.

About Kearney
Kearney is a leading global management consulting firm. For nearly 100 years, we have been a trusted advisor to C-suites, government bodies, and nonprofit organizations. Our people make us who we are. Driven to be the difference between a big idea and making it happen, we work alongside our clients to regenerate their businesses to create a future that works for everyone. www.kearney.com

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SOURCE Kearney

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GovInvest Reports Triple-Digit Quarterly Growth Fueled by New Customer Wins and Industry Recognition

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LOS ANGELES, Nov. 14, 2024 /PRNewswire/ — GovInvest, the pioneer of compensation analytics technology for government agencies, is celebrating a record third quarter in 2024, marked by significant new customer growth, regional expansion, and industry recognition. Over the past quarter (July-September 2024), GovInvest achieved an impressive 125% quarter-over-quarter increase driven by new client partnerships and strengthened relationships with existing customers through expanded solutions.

With its comprehensive suite of labor costing, budgeting, and compensation analytics solutions, GovInvest empowers public sector organizations to streamline operations, bridge the gap between HR and finance, and make smarter workforce decisions. By providing real-time, data-driven insights, the platform helps agencies attract top talent, optimize budgets, and improve employee satisfaction—critical advantages during today’s labor crisis.

Nationwide Customer Growth
Q3 2024 client wins and expansions included new deals in California, Georgia, Ohio, Rhode Island, Iowa, Texas, and Washington. These recent additions highlight GovInvest’s continued momentum in its core California market, where cities like San Bernardino, Beverly Hills, and San Marcos have deepened their use of GovInvest solutions. At the same time, the company is experiencing significant geographic growth, with new clients across diverse regions such as Georgia, Texas, and Washington, demonstrating its expanding national footprint and ability to address the labor costing and budgeting needs of government agencies nationwide.

“We’re excited to see such strong customer growth this past quarter in every geographic market, particularly in the southeast and pacific northwest,” said Michael Fryke, CEO of GovInvest. “This expansion underscores the trust that public sector agencies have in GovInvest’s ability to deliver powerful, data-driven solutions that address their labor costing and budgeting needs. We’re proud to partner with these organizations as they tackle today’s workforce challenges and plan for future success.”

Industry Recognition and Strategic Partnerships
GovInvest’s industry recognition further solidified its leadership in the government services sector. The company was named to the 2024 Inc. 5000 list, ranking 95th in the Government Services sector. This prestigious recognition honors the fastest-growing private companies in America and highlights GovInvest’s rapid growth even amid inflationary pressures and labor market challenges.

“We are deeply humbled by the opportunity to not only make the Inc. 5000 list but to have earned a position within the top 100 Government Services companies,” said Michael Fryke, CEO of GovInvest. “Our success is driven by the dedication of our customers and team, who work tirelessly to provide cutting-edge solutions to help governments make smarter, data-driven workforce decisions.”

In addition, GovInvest announced a strategic partnership with CPS HR Consulting, designed to deliver advanced, technology-driven solutions for compensation consulting. This collaboration further positions GovInvest as a leader in the government services sector, enhancing its value proposition for public sector agencies seeking smarter workforce strategies.

Strengthening Industry Ties
GovInvest’s involvement in key industry events continued to drive its momentum in Q3 2024, including being selected as a sponsor for the PSHRA (Public Sector HR Association) Annual Conference in September. GovInvest showcased its commitment to supporting human resource and public sector professionals with ongoing education and technological innovation.

Customer Webinars Resonating with Agencies
GovInvest’s client webinars also gained traction, with a particular focus on labor costing and workforce planning in the face of inflation and wage compression. The “Effective Labor Negotiations in an Era of Union Empowerment” webinar, featuring Chris Moses, Director of Human Resources for the City of Columbus, OH, provided public agencies with actionable insights into navigating today’s complex labor landscape with GovInvest’s tools. The session resonated with many participants, reinforcing GovInvest’s position as a thought leader in the government analytics space.

“With GovInvest, we’re able to show the unions exactly where we stand financially, making negotiations more transparent,” Moses said. “The trust that we’ve built through these accurate, real-time projections has been invaluable.”

Looking Ahead
As GovInvest looks ahead to continued growth, the company remains dedicated to providing the most advanced labor costing and compensation solutions for government agencies across the country. With a strong foundation of customer success and industry recognition, GovInvest is poised to drive further innovation and transformation in the public sector.

About GovInvest
Founded in 2014, GovInvest empowers over 1,000 public sector agencies nationwide to run their own labor, compensation, and benefits analysis at a fraction of the cost and time through powerful software solutions and hands-on consulting. With a commitment to transparency, efficiency, and equity, GovInvest empowers government leaders to make data-driven decisions, attract top talent, and enhance the effectiveness of their operations. To learn more, visit www.govinvest.com.

CONTACT: Christen Clegg, christen@govinvest.com

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SOURCE GovInvest

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