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MIT AND THE DIGITAL ECONOMY: THE SECOND MACHINE AGEFriday, April 10, 2015Location: Congress Centre | 28 Great Russell Street, London WC1B 3LS, UK Missed the conference? Click here to watch the live stream and follow us on social media at #MITIDE.
The Second Machine Age: A conference, led by Erik Brynjolfsson, PhD ’91, Schussel Family Professor of Management Science, Professor of Information Technology, and the Director of the Initiative on the Digital Economy, and Andy McAfee, ’88, ’89, LGO ’90, Co-Director of the Initiative on the Digital Economy, will facilitate a series of discussions that highlight MIT's role in both understanding and shaping our increasingly digital economy. Digital technologies are transforming business, our economy, and our society. They are driving innovation and creating unprecedented wealth. At the same time, a gap is emerging as accelerating changes in technology overtake the ability of people and organizations to keep pace. Harnessing the exponential improvements in artificial intelligence, robotics, networks, analytics, and digitization is the grand challenge for our generation and for MIT in particular.
Welcome LuncheonDavid Schmittlein, John C Head III Dean, MIT Sloan School of Management
Technology is Reshaping Economic Measurement – The Billion Prices Project
Traditional methods of economic measurement are not optimum to say the least. The Billion Prices Project is a project that in real-time measures daily price fluctuations of more than 5 million items sold by more than 300 online retailers in more than 70 countries. This talk will present the power of this dynamic approach in providing better measures of inflation, purchasing power parity, and economic activity.
Platform Shift – How New Business Models are Changing the Shape of Industry
Marshall Van Alstyne
This talk reveals the secret of Internet-driven platforms. Companies that can transform their traditional business models into network models will have a competitive advantage based on new insights into pricing, network effects, supply chains, and strategy. These principles show how dotcom companies like Airbnb, Amazon, Apple and Uber managed, in a relatively short time, to attract millions of clients worldwide. But they apply also to traditional product companies like Sony, shoe companies like Nike, and spice companies like McCormick. New business models help these companies extend existing transactions to new, associated products and services. Platforms beat products every time. This talk tells why.
Lessons from a Year in the Second Machine AgeAndrew McAfee
What's changed since our NY Times best-selling book The Second Machine Age came out in early 2014? What have we learned from an additional year's worth of evidence, trends, and innovation? Have the book's themes and predictions held up well? Which of them need to be revisited? In this talk, Andrew McAfee will reflect on insights gained since the book was finished.
Economic Challenges of the Second Machine AgeErik Brynjolfsson
The rapid technological advances and record wealth creation of the Second Machine Age have not lifted everyone’s incomes evenly. In fact, many people are worse of now than they were 20 years go. While there’s no economic law that everyone needs to benefit evenly, nor is there an economic law that the gains need to be radically uneven. The outcomes depend on our choices. I will discuss the causes and consequences of the recent technical changes in our economy, as well as some of the responses by individuals, organizations and society more broadly that can create shared prosperity.
Initiative on the Digital EconomyAndrew McAfee and Erik Brynjolfsson
David Schmittlein, John C Head III Dean, MIT Sloan School of Management
Roberto Rigobon, PhD ‘97View Presentation
Marshall Van Alstyne, SM ’91, PhD ‘98View Presentation
Erik Brynjolfsson, PhD '91View Presentation
Andy McAfee '88, '89, LGO '90View Presentation
Erik Brynjolfsson, PhD '91 & Andy McAfee '88, '89, LGO '90
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