2023 has been a relentless year. Devastating wars and disasters caused widespread destruction and humanitarian crises. Progress towards the Sustainable Development Goals remained sluggish. Recession fears loomed. Mass layoffs in the tech industry and the collapse of Silicon Valley Bank floored us all. The great leap forward of artificial intelligence (AI) ignited ethical and safety concerns. And companies pushed harder than ever to get workers back to the office.
Amid the chaos, INSEAD professors provided some clarity. Their research and thought leadership offer insights and strategies to not only navigate an ever-changing landscape but also plot a better path forward for business and society.
AI is forcing us to up our game
The benefits and risks of large language models like ChatGPT dominated discussions this year, particularly with regard to their potential impact on business education, as well as issues around trust, safety and governance. Highlights from our AI: Disruption and Adaptation series in 2023 include:
1. ChatGPT and AI Disruption: Is Consulting Next in Line?
Philip M. Parker, INSEAD
Given the increasing uptake of generative AI, consultants need to up their game to match algorithms’ ability to provide affordable strategic due diligence.
2. How Will ChatGPT Shape Business, Society and Employment?
Phanish Puranam and Theodoros Evgeniou, INSEAD; and Morten Olsen, University of Copenhagen
Will next-generation AI systems such as ChatGPT deliver the productivity boost modern economies need – and are we ready for it?
AI training enhances strategic skills, especially in lower-skilled individuals. But it isn’t a perfect substitute for human training partners.
The workplace is evolving, and so must the way we work
Hybrid work has become a permanent fixture, yet many companies struggle to really understand employees’ needs. This year, INSEAD faculty shared research and insights on how we can enhance the work experience for everyone:
1. Beyond Salary and Benefits: Why Career Conversations Matter
Winnie Jiang, INSEAD; Claire Harbour, Culture Pearl; and Antoine Tirard, NexTalent
To best navigate gender divides, pay attention to perceived power imbalances.
Organisations must go back to the drawing board
Companies need to carefully (re)consider their decision-making processes, structures and strategies to remain competitive. INSEAD professors underscored the importance of agility and adaptability in today's fast-changing business environment:
1. Only Fools Rush In: Pitfalls of Hasty Problem-Solving
Asher Lawson, INSEAD
Managers and organisational decision makers need to target their efforts to improve decision-making, starting with taking their time when approaching a problem.
2. Three Key Global Strategy Challenges Companies Face
Felipe Monteiro, INSEAD
How multinationals can adapt and redesign their global strategies in response to mounting pressures.
Leaders need to level up
As the well-worn proverb proclaims, "A fish rots from the head." But how can we nip toxic tendencies in the bud? INSEAD faculty outlined the need for self-awareness, continuous learning and a healthy dash of humour:
1. How Storytelling Makes You a Better Leader
Manfred F. R. Kets de Vries, INSEAD
Purposeful storytelling isn’t show business, it’s good business.
Negotiating radical organisational change needs to be a collective effort.
We are all responsible for fixing our world
2023 is set to be the hottest year on record, and both natural and human-made disasters are on the rise. As INSEAD professors argue, proactive business action remains critical to solve the world’s biggest problems:
By leveraging nondisruptive creation, companies can help the transition to a greener economy without sacrificing their financial interests.
3. Circularity in Practice: Case of a Zero-Waste Island
Atalay Atasu, INSEAD, and Imran Gill, Polygreen
Implementing sustainable solutions has everything to do with influencing behaviour, as showcased by the Just Go Zero project on the Greek island of Tilos.
Edited by:Katy Scott
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