decision velocity
Analytics, automation and AI will fuel future of business
The combination of analytics, automation and augmented intelligence will drive the future of business. That was the message delivered by Ray Wang, founder and analyst at Constellation Research, who spoke recently during the Graph AI Summit, the spring edition of the biannual open conference hosted virtually by graph data and analytics vendor TigerGraph. According to Wang, nearly two-thirds of the companies that made up the Fortune 500 in 2000 are now gone, having been acquired, merged with another company or gone bankrupt. And by 2040, 80% will have disappeared. Meanwhile, tech vendors such as Amazon, Apple, Facebook and Microsoft have quintupled their market capitalization in the last five years alone.
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Monday's Musings: Decision Velocity Will Determine Winners and Losers In A Digital Age
Speed has always been a critical success factor in winning wars on the battlefield. You need to move troops faster, reach targets more quickly, and strike with speed and precision. However, what is often not talked about is how the speed with which decisions are made plays a role in claiming victory. Alexander the Great's success on the battlefield is often credited to the rapid decision-making capabilities of his armies. Enabled by trust and a decentralized command structure, his troops were able to beat their enemies by "out-decisioning" them.