Artificial Intelligence

A sobering majority of executives lack the skills and mindsets necessary to lead in the digital economy, finds new MIT Sloan Management Review/Cognizant Study

Published

4 years ago

January 21, 2020

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A new study released today by MIT Sloan Management Review (MIT SMR) and Cognizant reveals that most executives around the world are out of touch with what it takes to lead effectively and for their businesses to stay competitive in the digital economy. Reliance on antiquated and ineffective leadership approaches by the current generation of leaders is undermining organizational performance. To remain competitive and lead effectively, executives will need to fully reimagine leadership, the study’s authors have found.

“We are on the precipice of an exciting new world of work, one that gives executives an opportunity to chart a new course for what their leadership should look like, feel like, and be like,” said Doug Ready, senior lecturer in organization effectiveness at the MIT Sloan School of Management and guest editor of the report. “Yet, our study suggests that digitalization, upstart competitors, the need for breakneck speed and agility, and an increasingly diverse and demanding workforce demand more from leaders than what most can offer. The sobering data underscores the urgent need for a fully reimagined playbook for leaders in the coming digital age.”

The study, as reported in “The New Leadership Playbook for the Digital Age: Reimagining What It Takes to Lead“ is based on a survey of 4,394 global executives from over 120 countries, 27 executive interviews, and focus group exchanges with next-gen global emerging leaders. The data reveals:

Only 12% of respondents strongly agree their own business leaders have the right mindsets to lead them forward, and only 9% agree that their organization has the skills at the top to thrive in the digital economy.
Only 13% strongly agree their organizations are prepared to compete in increasingly digitally-driven markets and economies.
A large majority, 71%, of respondents believe that they are personally prepared to lead in the digital economy. The same group scores significantly lower when asked whether they possess specific digital skills, such as using data analytics to influence their decision-making (55%) or advocating for the use of machine learning technologies in their organizations’ operations (50%).
While 82% agree the new economy will need “digitally savvy” leaders, less than 10% strongly agree their organizations have the right leadership to thrive in the new digital economy.
Just 40% believe that their organizations are taking the necessary steps to build robust digital leader pipelines.

“A generation of leaders in large companies are out of sync, out of tune, and out of touch with their workforces, markets, and competitive landscapes. What got them to their current exalted status won’t be effective much longer — unless they take swift action,” said Benjamin Pring, report coauthor and director of the Center for the Future of Work for Cognizant. “Allowing unprepared senior executives with outdated skills and attitudes to stick around forces next-generation, high-potential leaders to move on to new pastures, which harms morale and ultimately shifts the organization further away from where market demand is heading.”

The authors identify three categories of existing leadership behaviors (the 3Es); these include:

Eroding behaviors, or antiquated leadership patterns such as relying upon hierarchy for influence, command-and-control decision-making, and rigid strategic planning.
Enduring behaviors, evergreen and time-tested leadership attributes and behaviors including ethics, trust, and integrity.
Emerging behaviors, including digital savviness and collaboration skills.

“Our experience suggests that the most advanced leadership teams are those committed to developing these 3Es in their organizations,” added Carol Cohen, report coauthor and senior vice president, global head of talent management and leadership at Cognizant. “A key to success is artfully introducing new leadership approaches that particularly appeal to a new generation of employees while at the same time honoring the time-tested behaviors and attributes that inspire trust, build a sense of community, and motivate employees to improve performance.”

The authors caution that the primary leadership challenges in the digital economy are not solved by merely adopting a group of these 3E behaviors but require developing new mindsets that anchor, inform, and advance these behaviors. They identified four distinct mindsets that together constitute what they believe are the new leadership hallmarks in the digital economy and illustrate through data and case studies how they can shape successful leadership. They include:

Producer mindset: The producer mindset combines a focus on customers with a focus on analytics, digital savviness, execution, and outcomes.
Investor mindset: Leaders with an investor mindset pursue a higher purpose than shareholder returns.
Connector mindset: The connector mindset demonstrates a mastery of relationships, partnerships, and networks to drive organizational effectiveness.
Explorer mindset: Explorers are curious, creative, and operate well in ambiguous situations. They engage in continuous experimentation, encourage failure, and learn by listening to a variety of voices.

The report also offers further recommendations for a new leadership playbook and briefs leaders on the need to articulate a powerful leadership narrative, build communities of leaders, demand diversity and inclusion, and align talent, leadership, and business strategies.

To read the full report and take the accompanying leadership assessment, please visit MIT Sloan Management Review.

MEDIA CONTACTS:
Emily Lavelle, [email protected], +1 212-390-1328
Mara Stefan, [email protected], +1 781-534-3609

About the Authors:
Doug Ready is a senior lecturer in organizational effectiveness at the MIT Sloan School of Management, the founder and CEO of the International Consortium for Executive Development Research, and an MIT Sloan Management Review guest editor.

Carol Cohen is a senior vice president of global talent management and leadership at Cognizant. She is a founding board member of the $100 million Cognizant U.S. Foundation, and a board member of the National Center for Women and Information Technology.

David Kiron is executive editor, Big Ideas, at MIT Sloan Management Review. For the last eight years, he has led MIT SMR’s research efforts in the areas of artificial intelligence, the future of work, sustainability, digital transformation, internet of things, and other pivotal management topics.

Benjamin Pring cofounded and leads Cognizant’s Center for the Future of Work. He is a coauthor of a number of bestselling and award-winning books on how new technologies are changing the future of work.

SOURCE MIT Sloan Management Review

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Clarivate Declares Dividend on Mandatory Convertible Preferred Shares

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4 mins ago

May 1, 2024

CISION (PR Newswire)

LONDON, May 1, 2024 /PRNewswire/ — Clarivate Plc (NYSE: CLVT; CLVT PR A) (“Clarivate”), a leading global provider of transformative intelligence, today announced that its board of directors declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares (the “Preferred Shares”), payable in cash on June 3, 2024 to shareholders of record at the close of business on May 15, 2024.

On the mandatory conversion date, which is scheduled to occur on June 3, 2024, each Preferred Share will automatically and mandatorily convert into a number of ordinary shares of Clarivate (and cash in lieu of any fractional ordinary shares) based on the average volume weighted average price (“VWAP”) of Clarivate’s ordinary shares over a 30-trading day period that begins on, and includes, April 18, 2024 and is scheduled to end on, and include, May 30, 2024 (the “valuation period”). If such VWAP is (i) greater than $31.20, then the mandatory conversion rate will be 3.2052 ordinary shares of Clarivate per Preferred Share, (ii) less than or equal to $31.20 but equal to or greater than $26.00, then the mandatory conversion rate will be a number of ordinary shares of Clarivate per Preferred Share equal to $100.00 divided by such VWAP and (iii) less than $26.00, then the mandatory conversion rate will be 3.8462 ordinary shares of Clarivate per Preferred Share. The mandatory conversion rate will be announced following the end of the valuation period. The above description of the terms of the Preferred Shares is not complete and is subject to, and qualified in its entirety by reference to, the “Statement of Rights” for the Preferred Shares, which is filed as Exhibit 3.2 to Clarivate’s annual report on Form 10-K for the fiscal year ended December 31, 2023.
Cautionary Note Regarding Forward-Looking Statements
This communication contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These statements, which express management’s current views concerning future business, events, trends, contingencies, financial performance, or financial condition, appear at various places in this communication and may use words like “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “future,” “goal,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “see,” “seek,” “should,” “strategy,” “strive,” “target,” “will,” and “would” and similar expressions, and variations or negatives of these words. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on management’s current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include those factors discussed under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). However, those factors should not be considered to be a complete statement of all potential risks and uncertainties. Additional risks and uncertainties not known to us or that we currently deem immaterial may also adversely affect our business operations. Forward-looking statements are based only on information currently available to our management and speak only as of the date of this communication. We do not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, except as otherwise required by securities and other applicable laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.
About Clarivate
Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.
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Artificial Intelligence

CGTN: 3rd CMG Forum in Beijing discusses AI development

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4 hours ago

May 1, 2024

CISION (PR Newswire)

BEIJING, May 1, 2024 /PRNewswire/ — Focusing on the development of AI, the third CMG Forum was held on Monday in Beijing.

Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and the head of the Publicity Department of the CPC Central Committee, attended the opening of the event and delivered a speech.
Guests at the forum stressed the role of media in promoting the innovative application of AI as well as its governance.
Efforts should also be made to boost the development of AI in creating positive, healthy, diverse and high-quality content, so that AI can become a force for good and benefit mankind, they agreed.
They also called on media to accelerate intelligent transformation and help bridge international exchanges and cooperation on the governance of AI to facilitate its healthy, orderly and safe development.
Hosted by China Media Group (CMG), the forum attracted more than 200 participants from international organizations, media, think tanks and multinational companies.
“Innovation and breakthroughs in science and technology not only guide the development and progress of human civilization, but also bring uncertainty to the changing world,” said Shen Haixiong, vice minister of the Publicity Department of the CPC Central Committee and president of CMG. He called for efforts to jointly create valuable and responsible artificial intelligence.
AI technology is affecting every aspect of our lives. Thomas Bach, president of the International Olympic Committee (IOC), stated in a video speech that CMG has always been a partner of the IOC, bringing the charm of the Olympic Games to hundreds of millions of Chinese viewers. He said the IOC invites CMG to work together for the creation of a future with the application of AI in Olympic sports.
“From ancient inventions such as silk, printing and the compass to modern technological advances such as robotics, telecommunications and green technology, China has always been committed to innovation and creation,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). He said WIPO pays close attention to ensuring a balance between the opportunities and risks of artificial intelligence and is committed to strengthening cooperation to ensure that artificial intelligence is properly used.
https://news.cgtn.com/news/2024-04-30/3rd-CMG-Forum-in-Beijing-discusses-AI-development-1tdDcXvCexG/p.html

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Artificial Intelligence

Trianz Appoints Sridhar Kannan as Practice Leader – Digital, Elevating its Leadership in the Global Digital Transformation Space

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4 hours ago

May 1, 2024

CISION (PR Newswire)

trianz-appoints-sridhar-kannan-as-practice-leader-–-digital,-elevating-its-leadership-in-the-global-digital-transformation-space

SANTA CLARA, Calif., May 1, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Sridhar Kannan as Practice Leader – Digital. With over 25 years of extensive experience in technology and business leadership, Sridhar joins Trianz to lead the expansion of Trianz’s Digital Practice, forging strategic alliances and expanding the business footprint.

Sridhar’s appointment comes at a transformative phase for Trianz as it solidifies its commitment to redefining the digital landscape with an “IP Led” model. This strategic shift is powered by Trianz’s cutting-edge hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace. Sridhar’s visionary leadership in technology-led business transformations across diverse sectors will be instrumental in leveraging IP-led models and innovative methodologies to position Trianz at the forefront of digital transformation.
“We are thrilled to welcome Sridhar Kannan to the Trianz family,” said Seshi Vanguru, Chief Revenue Officer at Trianz. “His appointment marks a significant stride in Trianz’s journey toward innovation and excellence. Sridhar’s wealth of experience and exceptional leadership skills will elevate our Digital Practice to new heights, reaffirming our commitment to delivering exceptional value to our clients.”
Sridhar is recognized as a client-focused technology and business transformation executive with a remarkable track record of helping Banking and Financial Services organizations in business transformation and product innovation using applications, cloud, data, and digital solutions. His extensive prior experience at industry giants such as Wipro, Cognizant, and Infosys include successfully leading Fortune 10 global client relationships and implementing transformative solutions across Banking, Financial Services, and Healthcare industries. Sridhar is highly regarded for his ability to lead global cross-functional teams, foster collaboration, and achieve aggressive business goals while consistently delivering high levels of client satisfaction.
“I am deeply honored to join Trianz and contribute to its mission of shaping the future through digital transformation,” said Sridhar. “Together, we will push the boundaries of what’s possible and drive meaningful impact for our clients in this rapidly evolving digital landscape.”
Based out of Minnesota, US, Sridhar has steered numerous clients towards success through the strategic application of Digital, Cloud, Product Engineering, Data, AI, and Application services, making him a seasoned strategist in today’s dynamic digital landscape. His appointment marks a significant milestone in Trianz’s journey to nurturing talent and delivering world-class solutions.
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our “IP Led Transformations” approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media Team : [email protected]+1-408-387-5800
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