Innholdsfortegnelse for January/February 2021 i The European Business Review

The employment of artificial intelligence is proceeding ever faster all around us – not least in business and commerce. Will its use be driven by purely commercial forces or can we control it to the overall benefit of society? Professor David De Cremer of the National University of Singapore believes we need to aim for AI tempered with humanity. Q Hello, Professor De Cremer. Thank you for taking the time to talk to us. Just to orient ourselves a little, I wonder if we could start off with rather an obvious question. “Artificial intelligence” is one of those terms that we hear and use quite a lot but, when challenged, we may have differing ideas about what exactly they mean. What, for you, is artificial intelligence? And what is the…

Yan Pang received his PhD degree in System Engineering from National University of Singapore (NUS) joint with Massachusetts Institute of Technology (MIT) in 2006, and his Master Degree and Bachelor Degree in Mechanical Engineering from Zhejiang University, China in 2002 and 1999. Dr. Pang is an Associate Professor at the Department of Analytics and Operations at the National University of Singapore (NUS), and the Co-Director of NUS Business Analytics Centre. Prior to the current role, he was the Client Technical Advisor (Chief Architect) in Analytics and Optimization at IBM, and led the IBM technical solution design in ASEAN Public Sector. Previously, he was also a Lead Architect and Senior Manager at IBM R&D Labs in charge of analytics and optimization product development. Dr. Pang is the author of more than…

• Beck, A. H., Sangoi, A. R., Leung, S., Marinelli, R. J., Nielsen, T. O., Van De Vijver, M. J., ... & Koller, D. (2011). Systematic analysis of breast cancer morphology uncovers stromal features associated with survival. Science Translational Medicine, 3, 108ra113-108ra113. • Bigman, Y. E., & Gray, K. (2018). People are averse to machines making moral decisions. Cognition, 181, 21-34. • Bort, J. (2019). Amazon’s warehouse-worker tracking system can automatically fire people without a human supervisor’s involvement. Business Insider. • De Cremer, D. (2020). Leadership by Algorithm. Hampshire: Harriman House Ltd. • Dietvorst, B. J., Simmons, J. P., & Massey, C. (2015). Algorithm aversion: People erroneously avoid algorithms after seeing them err. Journal of Experimental Psychology: General, 144, 114-126. • Dietvorst, B. J., Simmons, J. P., & Massey, C.…

Jochen Wirtz is Vice Dean MBA Programmes and Professor of Marketing at the National University of Singapore. He is also an international fellow of the Service Research Center at Karlstad University, Sweden, an academic scholar at the Cornell Institute for Healthy Futures (CIHF) at Cornell University, US, and at the Global Faculty of the Center for Services Leadership (CSL) at Arizona State University, USA. Dr Wirtz is a leading authority on service management and has over 200 academic publications, including six features in Harvard Business Review and over 20 books. His latest books include Intelligent Automation - Learn How to Harness Artificial Intelligence to Boost Business & Make Our World More Human (2021) and Services Marketing: People, Technology, Strategy (9th edition, 2021). Watch Jochen’s Master Class to better understand service…

• Amabile, T. M. (1996). Creativity in context: Update to the social psychology of creativity. Boulder: Westview Press. • Amabile, T. M. (2020). GUIDEPOST: Creativity, artificial intelligence, and a world of surprises. Academy of Management Discoveries, 6(3), 351–354. • Barrat, J. (2013). Our final invention: Artificial intelligence and the end of the human era. New York: Thomas Dunne. • Bledow, R., Frese, M., Anderson, N., Erez, M., & Farr, J. (2009). A dialectic perspective on innovation: Conflicting demands, multiple pathways, and ambidexterity. Industrial and Organizational Psychology, 2, 305–337. • De Cremer, D. (2019). Leading artificial intelligence at work: A matter of facilitating human-algorithm cocreation. Journal of Leadership Studies, 13, 81–83. https://doi.org/10.1002/jls.21637 • Dietvorst, B. J., Simmons, J., & Massey, C. (2015). Algorithm aversion: People erroneously avoid algorithms after seeing them…

Kai Chi (Sam) Yam is an Associate Professor and Dean's Chair at the National University of Singapore Business School. Sam is also a research affiliate at AiTH and received his PhD in Organizational Behavior from the University of Washington. Sam’s research focuses primarily on behavioral ethics, leadership, humor, and the future of work. His work has been published in premier journals such as Proceedings of the National Academy of Sciences, Academy of Management Journal, Academy of Management Review, British Medical Journal, Journal of Applied Psychology, Journal of Personality and Social Psychology, Organizational Behavior and Human Decision Processes, and Personnel Psychology. In 2016, Sam was named by Poets and Quants as one of the Best 40 under 40 Business Professors in the world. David De Cremer is a Provost’s chair and…

Graham Bright is the Head of Compliance and Operations at Euro Exim Bank. He has more than 35 years of experience in the finance industry in a number of roles, working collaboratively with industry utilities, regulators and central banks, and in consulting and partner/channels management. He holds a BA (Hons) degree in Business Studies, and is also a serving UK Justice of the Peace in the magistrates’ court, having sat on criminal and proceeds of crime trials, and he also sits on Crown Court appeals. Graham is a regular contributor to trade journals (GTR, TFR), with published thought-leadership articles in the financial technology press, and a speaker at international trade industry conferences, such as SIBOS, GTR and Ripple Regional events.…

We humans love a strong leader and we’ve seen plenty of them recently. The strong men of popular politics, in societies all around the world. They share characteristics with some of the corporate titans who turn up in the highest levels of organisations. Look at the front pages of business magazines and Sunday supplements and you see a pattern not far from the all-conquering kings of old. Risk takers, people movers, peddlers of compelling visions. They gather their teams and focus them on an enemy. Apparently fearless, they’re ready to step into the danger, to battle and seize the day. But other evidence can be brought to bear. The quiet ego is not a fragile, squashed or unwillingly silenced ego. It is deeply resilient, attuned to its own and others’…

Nicholas Ind is Professor of Brand Management at Kristiania University College, Norway and a Visiting Professor at ESADE Business School in Barcelona and Edinburgh Napier University. His work focuses on the intersection of co-creation, branding and corporate culture. He is the author of 16 books including Living the Brand, Branding Governance, Brand Desire and Co-creating Brands. Before becoming an academic, Nicholas worked as a brand management consultant with a focus on defining brands and bringing them to life. Venkat Ramaswamy is Professor of Marketing at the Ross School of Business, University of Michigan, Ann Arbor, USA. He is a globally recognized thought leader, idea practitioner, and eclectic scholar with wide-ranging interests in innovation, strategy, marketing, branding, IT, operations, and the human side of the organization. Venkat's book, The Future of…

1 Patrick Forth et al., “Flipping the Odds of Digital Transformation Success” October 2019, https:// www.bcg.com/en-us/publications/2020/ increasing-odds-of-success-in-digital-transformation 2 A.P. Moller Maersk, Annual Report, 2019, p. 5, https://investor.maersk.com/ static-files/984a2b93-0035-40d3-9cae-77161c9a36e0 3 Gerald Kane et al., “Strategy, not Technology, Drives Digital Transformation: Becoming a Digitally Mature Enterprise” MIT Sloan Management Review, reprint no. 57181 (July 14, 2015) http://sloanreview.mit.edu/projects/ strategy-drives-digital-transformation/ ; Thomas Jensen, Jonas Hedman and Stefan Henningsson, “How TradeLens Delivers Business Value with Blockchain Technology,” MIS Quarterly Executive, 18, issue 4 (December 2019): 221-243; Kirstine Helvig Kromberg, “How to Achieve Digital Mastery at Maersk Line: The Journey Towards Sustainable Digital Innovation,” Copenhagen Business School, 2016, https://research.cbs.dk/en/studentProjects/ b6b8a78c-62d5-4002-b827-695ea2710eb3…

Dr Anat Garti is a social psychologist, couple and family therapist, management consultant and coach. She is the chief psychologist of the “Israel Values Center”: www.values-center.co.il . Contact anatgarti@gmail.com Prof. Simon L. Dolan is a researcher, author, management consultant and very solicited speaker. A prolific author (over 75 books), the creator of the Leading, Managing and Coaching by Values school of thought. Recently he has created and serves as the president of the Global Future of Work Foundation. He commutes between Barcelona (Spain) and Montreal (Canada) and delivers speeches in four languages throughout the world via his “Thinking Heads” agency (www.thinkingheads.com ). To learn more about him: www.simondolan.com.Contact: info@simondolan.com…

• A manager that shares a resignation letter of a person with coworkers. • A coworker that refuses to speak to his/her manager when he/she sees something unethical. • Filling a job without advertising it and giving other people a chance to apply for it. • A manager that reveals other employees’ confidential information about the salary of coworkers. • Favoritism – holding employees to different productivity expectations. • A manager who shares someone’s performance statistics with coworkers. • A manager who selects a random coworker to deliver the message that someone is fired.…

Prof. Simon Dolan is currently the president of the Global Future of Work foundation. Previously, he held several professorship positions in some of the leading management and business schools (Montreal and McGill, Boston and Colorado, ESSEC and HEC, and ESADE in Barcelona). He co-founded ISSWOV (The International Society for the Study of Work and Organizational Values). He is a prolific author with over 75 books published in multiple languages. He is also an entrepreneur that founded Gestions M.D.S. in the 1980s (in Canada) and currently is the honorary president of ZINQUO (in Spain). A high solicited speaker- Check him out at: www.simondolan.com or www.thinkingheads.com email: info@simondolan.com Prof. Steven Hawkins is an assistant professor at Southern Utah University and received his PhD from the University of Tennessee. Steven›s research focuses on…

Seth Earley, author of The Ai-Powered Enterprise: Harness the Power of Ontologies to Make Your Business Smarter, Faster, and More Profitable, is CEO of Earley Information Science (EIS), a leading consulting firm focused on organizing information for business impact, with expertise in knowledge strategy, data and information architecture, search-based applications, and information findability solutions. He is currently on the editorial board of the Journal of Applied Marketing Analytics and is a former Data Analytics department editor for IEEE’s IT Professional magazine. He lives in Carlisle, Massachusetts.…

David De Cremer is the Provost chair and professor in management and organizations at NUS Business School, National University of Singapore. He is the founder and director of the Center on AI Technology for Humankind at NUS Business school; which is a platform developing research and education promoting a human-centered approach to AI development. Before moving to NUS, he was the KPMG endowed chaired professor in management studies at Cambridge Judge Business School (CJBS) and is currently an honorary fellow at CJBS and St. Edmunds College, Cambridge University. He is named one of the World’s top 30 management gurus and speakers in 2020 by the organization GlobalGurus, named as being among the top 2% scientists in the world in 2020, and has published over more than 300 articles and book…

1 “COVID-19 and the world of work. 6th edition,” International Labour Organization (ILO), 23 September 2020 2 “Working during COVID-19,” European Foundation for the Improvement of Living and Working Conditions (Eurofound), 13 October 2020, https://www.eurofound. europa.eu/data/covid-19/working-teleworking 3 Gertrude Chavez-Dreyfuss, “The number of permanent remote workers is set to double in 2021,” World Economic Forum, 23 October 2020, https://www.weforum.org/ agenda/2020/10/permanent-remote-workers-pandemic-coronavirus-covid-19-work-home/ 4 Kathleen Hogan, “Embracing a flexible workplace,” Official Microsoft Blog, 9 October 2020, https://blogs.microsoft.com/blog/2020/10/09/ embracing-a-flexible-workplace/ 5 “Agile resilience in the UK: Lessons from COVID-19 for the ‘next normal’,” McKinsey, 13 October 2020, https:// www.mckinsey.com/business-functions/organization/ our-insights/ agile-resilience-in-the-uk-lessons-from-covid-19-for-the-next-normal 6 Tomas Chamorro-Premuzic and Ian Bailie, “Tech Is Transforming People Analytics. Is That a Good Thing?” Harvard Business Review, 21 October 2020 7 “How to be great at people analytics,” McKinsey, 2 October 2020, https://www.mckinsey.com/…

1. Bernard Marr, "The Amazing Ways Chinese Tech Giant Alibaba Uses Artificial Intelligence And Machine Learning", Forbes, last access on 21 Nov 2020, available at:https://www.forbes.com/sites/bernardmarr/2018/07/23/ the-amazing-ways-chinese-tech-giant-alibaba-uses-artificial-intelligence-and-machine-learning/?sh=5e31d581117a 2. Chris Gamble and Jim Gao, "Safety-first AI for autonomous data centre cooling and industrial control", Google Research Blog, last access on 21 Nov 2020, available at: https://deepmind.com/blog/article/ safety-first-ai-autonomous-data-centre-cooling-and-industrial-control 3. Z. Zhou, N. V. Chawla, Y. Jin and G. J. Williams, "Big Data Opportunities and Challenges: Discussions from Data Analytics Perspectives [Discussion Forum]," in IEEE Computational Intelligence Magazine, vol. 9, no. 4, pp. 62-74, Nov. 2014, doi: 10.1109/ MCI.2014.2350953. 4. Michele Banko, Eric Brill, "Scaling to Very Very Large Corpora for Natural Language Disambiguation", Proceedings of the 39th Annual Meeting of the Association for Computational Linguistics, 2001, pp. 26-33 5. Recchia, G., Jones, M.N.…

Tessa Haesevoets is a postdoctoral researcher at the Social Psychology Research Unit at the Department of Developmental, Personality and Social Psychology, Ghent University. She holds a PhD from Ghent University. Her research interests include trust repair and artificial intelligence. David De Cremer is Provost Chair and Professor in Management and Organisations at NUS Business School, National University of Singapore, a former KPMG endowed Professor in Management Studies and current honorary fellow at Cambridge Judge Business School, and a fellow at St. Edmunds College, University of Cambridge. He is also the founder and Director of the Centre on AI Technology for Humankind. He has been called one of the world’s top 30 management gurus and speakers in 2020 and is a best-selling author, his latest book being on “Leadership By Algorithm:…

1 This article draws on Jochen Wirtz, Paul Patterson, Werner Kunz, Thorsten Gruber, Vinh Nhat Lu, Stefanie Paluch, and Antje Martins (2018), “Brave New World: Service Robots in the Frontline”, Journal of Service Management, Vol. 29, No. 5, p. 909, https://doi.org/10.1108/ JOSM-04-2018-0119; Pascal Bornet, Ian Barkin and Jochen Wirtz (2021), Intelligent Automation - Learn How to Harness Artificial Intelligence to Boost Business & Make Our World More Human, https://intelligentautomationbook.com; Jochen Wirtz (2020), “Organizational Ambidexterity: Cost-Effective Service Excellence, Service Robots, and Artificial Intelligence”, Organizational Dynamics, Vol. 49, No. 3, https://doi.org/10.1016/j.orgdyn.2019.04.005. 2 Jochen Wirtz and Valarie Zeithaml (2018), “Cost-Effective Service Excellence”, Journal of the Academy of Marketing Science, Vol. 46, No. 1, pp. 59-80. https://link.springer.com/article/10.1007/s11747-017-0560-7 3 Paluch, Stephanie, Wirtz, Jochen and Kunz, Werner H. (2020), “Service Robots and the Future of Service”,…

Jakob Stollberger is an assistant professor at Aston Business School, UK, as well as an international research affiliate of the Centre on AI Technology for Humankind at NUS Business School, Singapore. Jakob’s research examines topics such as leadership and innovation, the intersection between work and family, as well as how artificial intelligence plays a role in the future of work. He also works as a practitioner advising businesses in these areas. Prior to joining Aston Business School, Jakob held research positions at Judge Business School, University of Cambridge and the University of Birmingham. David De Cremer is Provost Chair and Professor in Management and Organisations at NUS Business School, National University of Singapore, a former KPMG endowed Professor in Management Studies and current honorary fellow at Cambridge Judge Business School,…

Q EEB has described itself as “future-ready”. What place does the exploitation of leading-edge technology, including artificial intelligence, have in the overall strategy of the company? A Our Future Ready strategy brings clarity and vision to complex scenarios, delivering peace of mind, lower lifecycle costs and resilience, making not only our applications but our infrastructure ready for future challenges. In competitive, fast-changing markets with significant events, we have not let up in our investment in new technologies, which optimise the systems we use, enhance and simplify the way we use them, and draw best value from the data and information available to us. In terms of planning, analytics, audit and longevity, our systems have been carefully developed with specialist trade experts and IT to provide ease of integration, implementation, security…

High levels of uncertainty often lead businesses into predictable directions, many of them negative. Extreme risk aversion, pre-emptive layoffs, and a laser focus on the short term are all common examples. On the positive side is the forming of alliances, a move that has become increasingly popular during the pandemic. Partnering with other firms can help strengthen a competitive position by enhancing market power, increasing efficiencies, accessing new or critical resources or capabilities, and entering new markets. “In many instances, alliances are not only the preferred method for growth, but also the only feasible one,” says Wharton management professor Harbir Singh. Consider the race for a COVID vaccine. Multinational pharma giants Pfizer and AstraZeneca, for example, respectively joined forces with BioNTech, a boutique German firm, and scientists at Oxford University.…

Michael Chaskalson is a Professor of Practice at Ashridge Executive Education at Hult International Business School and associate at The Møller Institute at Churchill College in the University of Cambridge. A pioneer in the application of mindfulness to leadership and in the workplace, he is founding Director of Mindfulness Works Ltd. and a partner at GameShift. Philippa Hardman is co-founder with Chris Nichols of GameShift. She is a chartered accountant by background, with 25 years consulting experience including Coopers & Lybrand (now PwC) and PA Consulting. She was previously co-leader of the strategy engagement group and Director of Ashridge Consulting. Chris Nichols is co-founder of the specialist systems change consulting firm GameShift, Over the past three decades he has worked in public service, consulting, finance and academia. His work brings…

Leaders understand that digital transformation is an imperative. Shareholders demand it. Customers expect it. The commercial impacts of COVID-19 are accelerating it. Yet only a quarter to a third of digital transformations fully achieve their goals.1 Research points to several keys to transformation success, such as customer-centricity, well sequenced technology adoption, employee enablement, effective use of data and analytics and taking a step-by-step approach to transformation management. Meanwhile, torrents of best practices and expert advice flow from every imaginable source about what it takes to win at digital transformation. Large-scale digital transformations demand so much adaptation to specific company circumstances that much of this insight is useless without a context for transformation management and leadership. Actively managing the multifaceted aspects of organisational change across the enterprise is the path forward…

1.The acronym VUCA, according to many sources, originated in the US military (Whiteman, 1998). 2.https://www.un.org/sites/un2.un.org/files/2020-06_-_unin_ quarterly_innovation_update_-_second_covid-19_special_edition.pdf • Bennett, N., and Lemoine, G.J. (2014). What a difference a word makes: Understanding threats to performance in a VUCA world. Business Horizons, 57(3), 311-317. • Brand, F.S., and Jax, K. (2007). Focusing the meaning (s) of resilience: resilience as a descriptive concept and a boundary object. Ecology and society, 12(1). • Dolan, S.L. (2006). Stress, self-esteem, health and work. Springer. • Dolan, S.L., (2011). Coaching by Values: A Guide to Success in the Life of Business and the Business of Life. iUniverse. Bloomington, IND. • Dolan, S.L., (2019). Más coaching por valores. Madrid, LID editorial. • Dolan, S.L., (2020). The secret of Coaching and Leading by Values: How to ensure alignment and proper…

1. Liran, Avi and Dolan, Simon L. (2016) “Values, Values on the wall, Just do business and forget them all: Wells Fargo, Volkswagen and others in the hall” The European Business Review https://www. europeanbusinessreview.com/values-values-on-the-wall-just-do-businessand-forget-them-all-wells-fargo-volkswagen-and-others-in-the-hall/ 2. Association of Certified Fraud Examiners. (2020). Report to the Nations: 2020 Global Study On Occupational Fraud and Abuse. https:// www.acfe.com/report-to-the-nations/2020/ . 3. https://ec.europa.eu/anti-fraud/investigations/fraud-figures_en 4. Source: Zorana Ivcevic , Jochen I. Menges and Anna Miller: How Common Is Unethical Behavior in U.S. Organizations? Harvard Business Review, March 20, 2020 (https://hbr.org/2020/03/ how-common-is-unethical-behavior-in-u-s-organizations) 5. Dolan, S.L. (2020) The Secrets of Coaching and Leading by Values. London-NY Routledge. 6. Association of Certified Fraud Examiners. (2020). Report to the Nations: 2020 Global Study On Occupational Fraud and Abuse. https:// www.acfe.com/report-to-the-nations/2020/ . 7. Espinosa-Pike, M. and Barrainkua, I. (2016). “An exploratory…

Euro Exim Bank Limited is an innovative global financial institution with Head Office in St. Lucia and Representative Office in London. We hold a "Class A" international banking license from Financial Services Regulatory Authority (FSRA) of St. Lucia. This license provides authorisation to conduct business with third parties across industries and geographies worldwide, exercising strong due diligence, full compliance and operational excellence in our processes. Euro Exim Bank is an associate member of the Caribbean Association of Banks Inc (CAB). Being a member of CAB offers us opportunities and knowledge sharing with industry leaders that are applied to modernise our operations and customer service.…

Companies everywhere must find new sources of value creation both inside and outside traditional industry boundaries. For decades, industry definitions have been used to both group certain companies and business activities together as well as to serve as the starting point for growth and operational business strategies. In a pre-digital world, that thinking made a lot of sense. Today, however, traditional industry boundaries are often blurred as companies jostle with convergence and consolidation. Strategy development in this boundaryless environment requires a new perspective. Companies need to think first about what they are famous for, and from which capabilities and services their business, employees and customers derive value, rather than their historical industry affiliation. Profits Tell the Tale To understand why the industry lens for strategy creation needs to be rethought,…

Joerg Niessing, a Professor of Marketing at INSEAD, is a globally recognized leader on digital transformation, digital strategy, customer-centricity, and data analytics and has authored a series of reports and frameworks on these topics. He is the programme director of INSEAD’s flagship programmes “Leading Digital Marketing Strategy” and “B2B Marketing Strategies”. His credentials do not only come from his academic career, but also from over 14 years in consulting. Fred Geyer is a Senior Partner at Prophet, a leading transformation consultancy. Fred and Joerg are co-authors of The Definitive Guide to B2B Digital Transformation, curators of B2BDigitalTransformation.com – an resource hub for transformation leaders and facilitators of a webinar series featuring B2B transformation leaders. For more information go to B2BDT.com.…

William S. Harvey is Professor of Management and Associate Dean at the University of Exeter Business School. He is an International Research Fellow at the Oxford University Centre for Corporate Reputation and Chair of the Board of Libraries Unlimited. William advises leaders on reputation, talent management and leadership. Vincent Mitchell is Professor of Marketing at The University of Sydney Business School. After publishing over 200 academic and practitioner papers in journals such as Harvard Business Review, Journal of Consumer Psychology, Journal of Economic Psychology, his work has created much impact and resulted in an h index of 59. Alessandra Almeida Jones is a marketing and communications professional with a track-record in building brands for professional services firms. Particularly skilled in creating thought leadership campaigns, she has pioneered many award-winning marketing…