To gain success in this hastily changing economy has become both extremely crucial and complex. Machines are preferred more than humans. One needs to master this shift powered by digital in today’s world. To be successful, this integration of the crowd and the core, of platforms and products, of machines and minds must be considered by every individual.
Three shifts related to how work takes place in any field have created by the latest phase of the Internet and the phase of computers. First is artificial intelligence (AI) – the transformation to the machine from man. The standard partnership was ruling the workplaces where individuals were working with computers. However, now that model appears to be broken down as more controlling power has shown by computers. Businesses have considered machine intelligence superior to human kind. According to them, invaluable objective analysis is provided by AI whereas imperfect analysis is provided by humans. The physical world is now being invaded by digital technologies. First, it was used for information, now we see online language translators and self-driving cars.
The second shift is to platforms from products. Its example can be well-seen in case of Uber – no personal vehicles are owned by this largest cab service company. Similarly, no inventory is held by Alibaba – the biggest extensive retailer. The third shift is to the crowd from the core. Centralized organizations are referred by this core, for example, Encyclopedia Britannica or central banks and the self-organizing and decentralized participants are referred to as the crowd, for example, Wikipedia and Bitcoin.
It was once well-said by Albert Einstein that “Things must be made as simple as possible, but not simpler”. This advice has been well-understood by McAfee and Brynjolfsson. They claimed that all decisions will not be automated by companies, therefore, humans will be required. One must have the capability to absorb different data through sense, as human common sense is one thing that cannot be constructed or replicated by the computer algorithm. Secondly, individuals must have capability to work effectively with social drives and emotional states of other individuals.