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As Generative AI transforms industry at a fierce pace, organizations face important challenges. How do you build a product that not only insights into today's users, but also drives valuable, reliable, and competitive AI? The answer starts with resilience as a principle of new design.Unlike previous products, systems, and software development cycles, products followed predictable patterns, so AI-powered solutions introduce unique uncertainties. Models can drift in unexpected and unproven ways during development, generate unexpected output, or fail. This introduces new vulnerabilities. SMART organizations are aware of this and are changing the way design sessions are conducted. Product design resilience (and…
AI will not cure GroupThink, or No. 1, Board disease. Many executive search companies define board recruitment missions regarding identifying candidates with the required expertise, but when hired, such expertise is often undermined by board pressure on consensus. Missing Consensus Celebrations of the Bestsellers 2004 Books Crowd Wisdom We encouraged the introduction of steam in dissent from individual experts.The board now hopes that AI tools can make up for the knowledge gap despite struggling with technology monitoring. A recent Deloitte survey of 600 directors on 57 major global corporate committees in 57 countries found that even if investments surge beyond…
Some of the most successful companies didn't get a place where they were by standing still. They pivoted, and they reached new heights. Adjusted when customer needs shifted or when market conditions changed. Netflix is the perfect example. The company went from mailing DVDs to becoming a streaming powerhouse by quickly realizing how people consume content. IBM has evolved from selling hardware to providing IT solutions and consulting, and has done the same. These are not just stories from the past, but lessons to maintain their relevance. But pivots don't always mean changing what you sell. Sometimes it's about changing…
Even capitalized companies have accumulated layoffs. Unfortunately, this trend is expected to last. Factors such as inflation, tariffs and low consumer confidence can soften the economy and could strengthen over the next few years. And because of the weak job market, many people affected by layoffs could face a long period of unemployment. It all poses a risk to CFOs who are forced to cut but end up taking up disproportionate liability for predictable outcomes. Angry former employees who can't immediately find new jobs get a lot of time to beat the company online. The anger of these employees may…
You defined your strategy, started your transformation, and explained it to your team. A shift is in progress. But after a few weeks or months, something is off. Progress has slowed down. The enthusiasm is getting dark. Resistance has reappeared in new forms. And your momentum of change is stagnating. This scenario is more common than most CEOs realize. The study consistently shows that 60% to 70% of organizational change initiatives failed. One important reason? Resistance does not end after kickoff. It evolves. Leaders often treat resistance like a high initial hurdle. In reality, it is the repetitive signal that…
The dynamic interplay of data and AI is fundamentally reshaping the CFO’s role. This episode features a conversation with Tod Crane, the astute CFO of Domo, a cutting-edge, cloud-based data and AI platform. From his roots on an Idaho potato farm to doing inventory counts in public accounting to navigating the complexities of a tech unicorn’s IPO, Tod delves into how his journey forged his financial acumen. He also discusses the crucial role of strategic partnerships, seamless transitions to life as a public company and the relentless pursuit of measurable value through insightful, data-driven decision-making. To book a demo with…
The luxury yacht industry is riding a wave of change. Charter bookings have skyrocketed as Covid introduced a new generation of clients. This views yachts as property ownership and as a gateway to experiential luxury. Meanwhile, sustainability has evolved from an industry buzzword to a business mandate, with owners and operators competing to reduce their environmental footprint and without compromising the ultra-high-end experience. Leading this evolution is Anders Kurtén, CEO of Fraser Yachts, a Monaco-based intermediary with 78 legacy and global reach. A 25-year industry veteran who led the turnaround at Finland's Balto Yacht, Kruten shares insights into how the…
The world is moving at a fierce speed, Corporate Board Members EY Americas Center for Board Matters also reveals how this pace of change is reshaping corporate governance.A new study conducted earlier this year among board members of nearly 200 public company members has found that almost three-quarters of directors say their corporate strategy is constantly fluid, with six out of ten expecting a carefully prepared plan to require a complete overhaul within just 12-18 months.This finding illustrates a fundamental shift in the way boards must approach strategic oversight, with continued strategic vigilance and adaptive governance. Take a closer look…
For Michiel Boere, former global CFO at Uber Eats, the secret behind being an effective financial chief is as far away as you can get from the old CFO stereotypes. Boere, the employer of Record of Record and HRIS Solutions, the CFO of Payroll Provider Remote, sees his role as the “connection” of the entire management team. His goal as CFO is to remove growth and innovation that reduces friction, not to create it. Instead of strict control over them, know when to make costs more flexible. To do all that, CFOs need to look “practically, operationally aware and positive.”…
Fresh from the announcement that Columbia Banking Systems is acquiring Pacific Premier Bancorp in a $2 billion stock transaction, board member Chris Mitchell is feeling pretty good. Mitchell, formerly a director at Pacific Premier, will join the board at Columbia, a post-merger regional banking behemoth with $70 billion in assets. “This was an industry, regional middle-market banking, that was starved for deals the last four years,” he says. “We’re now at the front end of a very large M&A movement.”While acknowledging that banking is one of just a few sectors experiencing an M&A resurgence, Mitchell says others are poised for…