The working models that made sense for post-World War II employees do not necessarily work for the employees of today, and MIT Sloan Professor Thomas A. Kochan believes it’s about time those models were updated to fit a dramatically altered world. In his latest book, Shaping the Future of Work, Kochan outlines the steps that business, government, and academic leaders must take so that workers can perform their best work and prosper. These steps, he contends, are necessary for companies to realize positive outcomes and national economies to thrive.
Kochan’s goal is to inspire the creation of more productive businesses that provide good jobs and successful careers, resulting in a more inclusive economy and more broadly shared prosperity. But to revamp the system, he says, workers must acquire new sources of bargaining power and business, labor, government, and educational leaders must work together to meet the challenges and opportunities facing the next generation workforce.
In a recent interview with MIT Sloan News, Kochan raised the example of the Market Basket grocery store chain, where workers staged a successful walkout two years ago after the pro-worker CEO was fired. “It’s going to require a massive effort on the part of the public to do what we saw at Market Basket—to say, ‘This is the kind of company we expect to have competing here in the United States.’”
Venture capitalists and entrepreneurs lean toward immediate gratification. So does the pharmaceutical industry and, for that matter, society as a whole. Unfortunately, inventions that require a long lead time to develop are often overlooked in favor of projects that promise a quicker pay-off—a phenomenon that may well be holding back disease cures and energy solutions. MIT is stepping up to address this issue with a pioneering new enterprise called The Engine, which will provide funding, expertise, and physical space to innovators studying breakthroughs that may take a bit longer to commercialize.
MIT President L. Rafael Reif announced the initiative in late October 2016 at The Engine’s headquarters in Central Square, Cambridge. He noted that many innovations never leave the lab because companies have difficulty finding financing. The Engine, he said, will power a grid of innovation networks, supporting startup companies working on scientific and technological breakthroughs that have the potential for transformative societal impact.
“If we hope for serious solutions to the world’s great challenges,” Reif said, “we need to make sure the innovators working on those problems see a realistic pathway to the marketplace. The Engine can provide that pathway by prioritizing breakthrough ideas over early profit, helping to shorten the time it takes these startups to become ‘VC-ready,’ providing comprehensive support in the meantime, and creating an enthusiastic community of inventors and supporters who share a focus on making a better world. We believe this approach can offer exponential growth to regions that pursue it successfully — and we want Greater Boston to lead the way.”
Rubber bumpers, airbags, shatterproof windshields—such were the hallmarks of vehicular safety before the advent of the driverless vehicle. For the passenger in a driverless car, however, it’s the software, first and foremost, that must be crash-proof. In a recent editorial in Xconomy, Lou Shipley, a lecturer at the Martin Trust Center for Entrepreneurship at MIT Sloan, cautions that in the production of autonomous vehicles, the management of software supply chains must be as reliable as the rigorously tested supply chains for mechanical parts.
“Beyond being efficient, software providers for driverless cars will surely face requirements to certify that the code they deliver is free of security vulnerabilities that, if exploited, could enable a hacker to seize control of the vehicle,” Shipley says. “A faulty spark plug is one thing. Suddenly having your steering, acceleration, and braking hijacked is quite another.” He points out that many software fixes will take place remotely, the way that an Apple technician in Cupertino can now patch an iPhone in Sri Lanka—via cyberspace.
Bottom line, Shipley says, the success of autonomous vehicles will depend on whether drivers feel comfortable giving up the wheel. “Motorists’ willingness to hand over that control to software will depend largely on carmakers’ ability to gain their trust.” He notes that consumers have already shown some comfort with automated transportation. “Airline passengers today don’t seem to worry about automatic pilots guiding airplanes through the sky and even landing them when visibility is poor.”