Fascinating topic! Similar to other commentators, I also doubt how the company can scale with this model of experimentation and open innovation. It seems that it might work while the company is local, but I think maintaining this model combined managing supply chain costs of a growing national business will be difficult. I think the company can establish a more controlled process for open innovation that maintains the open funnel for ideas, but might be slower and take longer roll out to different stores in order to better manage costs of constantly changing the products.
Great piece! I agree that AT should partner with more dentists to grow their market share from 10% and build long term relationship with customers. Regarding innovation, I think customers care more about effectiveness and speed so I think that AT should focus its innovation methods on using the optimal materials and the procedure so their treatment can reduce the time needed and inconvenience of using the product. On a related note, this type of innovation can clear that path for expansion into other product areas like TOMB mentioned above!
Fascinating topic! I think that additive manufacturing is necessary area of exploration and focus for Nike in order to remain competitive on a cost basis with Adidas, UnderArmour, etc. However, I do not think that Nike should look to print all of its products. Assuming the quality is on par with Nike’s manufactured shoes, the printed shoes might still encounter issues and push back from the consumers. For many Nike products, especially in the basketball line, the pent up demand is a function of the limited supply of the shoes. Once customers can print whatever Nike shoe they want, the ubiquity might have detrimental effects on the brand by reducing the initial allure of the shoes. I think Nike also needs to focus on which products, even within the footwear space, would be optimal for prints. I think evidence of this distinction already exists when examining which models of sneakers Nike currently offers for custom ID design.
Thank you for sharing! I think one other challenge for Winsun is the tension between growth and regulation. I think their model and growth story makes sense in China, but I am not sure how the international regulation outlined by the ICC might differ from the comparable body in China. I wonder if Winsun needs to solely focus on winning the Chinese market first and working within those boundaries before delaying growth plans while adjusting to the requirements of the ICC. As you opened the essay, there are 65 competitors right now and that number is only growing.
Thank you for sharing! When reading your article, I thought one key takeaway was the tension in incentives for people in the field between social good and economic gain, which is a common tension in the medical field. Researchers who care less about economic gain and solely care about advances in medicine to maximize social good would be likely buy in to this open innovation theory for medicine. Despite the importance of collaboration and ensuing open innovation to tackle modern medicine issues, that pursuit at the expense of individual economic gain and recognition is unfathomable for many. As a result, I think about the tenure and royalty questions in a similar way about how do you realign incentives and ensuing compensation in the industry. I do think that individual institutions can create their own internal incentive systems to reward collaboration, but I think a larger governing body would have to tie payout of grants, etc. to these institutions based on their track records of collaboration and achievement of joint research.
Great article on the applications of machine learning in the world of asset management. In response to your last question, I think it is of the utmost importance that Blackrock programs triggers and certain hurdles into the code for the algorithms that prevent trading activity after a certain threshold until human certification. I think a dramatic example of the lack of these controls was the 2010 Flash Crash that erased 10% of market value in minutes and temporarily caused the NYSE to shut down. (1) While these triggers sometimes might hinder the algorithm from achieving high, time sensitive returns, these types of measures can also help prevent swift and unintentional market swings from the trading activity of these algorithms.
Thank you for sharing this piece on machine learning at Google. When reading your second question about removing the human element of checking the map, I started to wonder about circumstances where the human element is still vital. For example, local residents in a city may have a better sense of the safety on a particular street that software and hardware may not be able to capture, but that information might be critically important when Google Maps is recommending a route for a user. As a result, I think it will be important for Google to determine what are the major information gaps that its technology is not capturing and focus on closing those gaps instead of just finding ways to replace the human element.