AI and Other Technologies in Business
In the previous chapters, the authors discussed a switch from a traditional business model towards the modern digital business model, which seems to follow a specific pattern, as highlighted by strategist Tom Goodwin. In this economy, knowledge and data have an important role that can be compared to that of technology itself. Among other things, the authors discuss how companies need to overcome Polanyi's paradox as well as the so-called curse of knowledge—or status quo bias—according to which they might not understand how to innovate themselves because of it. In particular, some organisations might be so proficient and knowledgeable that they risk not seeing what is coming and preparing themselves for the disruption in their sector. The authors also discuss the use of AI and other technologies in business and how to use them efficiently.