Fusion Strategy: How Real-Time Data and AI Will Power the Industrial Future by Vijay Govindarajan and Venkat Venkatraman.
Vijay holds an MBA from Harvard Business School and is Professor of International Business at Dartmouth College. Venkat holds an MBA from the Indian Institute of Management and a PhD from the University of Pittsburgh and is Professor of Information Systems at Boston College.
Mix AI innovation and digital strategy and you can certainly understand how real-time data can transform companies and their products. Furthermore, this book is addressing industrial and manufacturing firms., data-rich information was limited to a select few like Boeing.
So parsing terabytes of interconnected datasets, industries can drive new value by creating strategic connections not possible even 10 years ago. However Facebook, Amazon, and Google proved repeatedly that the collection of real-time data can drive innovation in a fast changing world. Especially for design and manufacturing firms, the deployment of inexpensive sensors, enhanced wireless technologies and real cheap computing wrapped around artificial intelligence will make industries shift overnight.
When Steel meets silicon
Readers will appreciate how Vijay and Venkat outline the impact of AI for consumer engagements leading them to focus on the business impact to industry under their Fusion Strategy. In short, industrial manufacturing must continue to innovate while embracing AI to create or further cement strategic relationships. I appreciate how they address John Deere as a case study.
Placing this book into a good selection: Competing in the Age of AI, The Digital Mindset, Gödel, Escher, Bach, and Working with AI.
Datagraphs
By combining social networks and graph theory, AI and ML technology “datagraphs” are data network effects in real time. When understood and correctly implemented, industries will get more ‘smart’ as they intake more data from their products and how their customers use them.
Big Tech to Industrial and Manufacturing
So, you can easily point to market leaders who embrace datagraphs including Airbnb, Amazon, Amex, Netflix, Spotify, and Twitter. Each harvests unique data specific to their market. In fact, across large industrial companies ABB, Caterpillar, Foxconn, GM, Honeywell, John Deere, Rolls-Royce, and Siemens have already recognized the disruption caused by tech companies and have begun to embrace those digital tech leaders across auto, farming, construction and building vertical markets. Vijay and Venkat also address Digital Twins and the outcomes are very powerful for large industry and manufacturing.
In conclusion, this is an absolute must read for industrial and manufacturing markets. Interesting focus on AI and leveraging data into your business with insightful perspectives. This would also include those seeking to understand the intersection of AI, datagraphs, and industrial innovation.