Very interesting topic on the open innovation in L’Oreal as I also wrote about it. But I raised a question on the tension of both internal and external innovation due to the misalignment of interest, since the internal parties in the company might be hesitated to fully adapt the external innovation result given their existing collaboration resources and networks.
The open innovation has always been a great initiative for every organization to have, however, when the incentives are not properly aligned, there might be some issues to push the innovation forward within the organization. How does the open innovation really impact employees? ement vs. technical competence. How they will balance their existing work and the innovation challenge? Will they have the skills need to go for the challenge?
Disney has always been one of the best content creator in the world! With AI and ML, it would further improve the experience that to be enjoyed by consumers, which is excited to see. However, there is always a line between the ultimate customer experience and customer privacy. When reading that they will be able to capture audiences’ facial expression, which is a bit scary to me. Is that permitted by the audience. I think most people would not be happy to have their facial expression been monitored. If from audience side, the information could not be captured, is there other ways to improve Disney’s understanding about audience?
I definitely love the idea of using AI to help stopping poaching, but the thing that I am concerned with is if we use the historical data to predict the future poaching, and if the poachers know that, they would always find ways to change routes to avoid to be predicted. With AI, can it provide real time prediction of the poaching? For example, can we tag each animals with a chip, so all of them are monitored. Once the system shows that there are other unusual moving items around the area, they can immediately send out the patrol to protect the animals.
As a lover of high fashion, this article triggered me dreaming of 3D printing every fashion pieces I like at home!!! If the 3D printing can really print clothes exactly as craftmen made, it would be amazing, and the fashion industry would be totally disrupted. First of all, they will no longer have the issue of supply and demand, and forecast management, which would be a huge cost reduction for the whole industry! Second, fashion houses would become truly designers. I am not sure how this would lead the fashion industry. Will the designers and brand owners like the idea of giving their craftman part to the hand of the consumers?
Thanks for this amazing article on how Machine Learning disrupt the VC industry. ML definitely could assist the venture capitalists with massive amount of business plans submitted to them, especially while identifying the pre-A deals. However, based on my own prior experience in VC, I think the VC industry is strongly network driven, and people driven.
ML might use the algorithm to identify the potential investment and increase their deal, but sometimes, the interaction with the founder’s team, getting to know who exactly the founders are, their personality, their chrism, their people skills, which might not be able to be identified by ML, might lost their chance of getting the money.
Meanwhile, the current situation is, there are lack of good deals. Once every firm use the same algorithm to find the deals, every VC will fight for the same deal, the competitive issue is still unsolved in how to getting money into those startups.