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Innovations in Management: How AI and new management systems make the difference
International Symposium Thursday, 14 november 2024, 09.30 h. Madrid
General information:
Venue: Fundación Ramón Areces - salón de actos. Calle Vitruvio, 5. 28006. Madrid.
Attendance is free, but it is necessary prior registration. Limited capacity.
Organized by:
Fundación Ramón Areces and MIT-Industrial Liaison Program
Coordinator/s:
Eduardo Garrido, Program Director of the MIT Office of Corporate Relations
- Description
- Programme
- Speaker/s
This year’s MIT – Fundacion Ramon Areces symposium will feature 3 distinguished MIT speakers, on how AI and new management systems will allow organizations to gain unmatchable competitive advantage and transform its decision making.
Dr. Steven Spear will examine why top organizations excel by employing management systems that harmonize individual efforts into collective actions, fostering creativity and better problem-solving.
Dr. Michael Schrage will explore how generative AI and Large Language Models (LLMs) are transforming business processes, through automation and decision augmentation, impacting areas like customer service, supply chain management, financial planning, and R&D.
Professor Roberto Rigobon will discuss the disruptive nature of General Purpose Technologies (GPTs) like AI, which enhance productivity for certain workers while displacing others, highlighting the future capabilities that will complement AI and the occupations at risk of displacement.
Please join us to learn about management innovations from these three MIT thought leaders.
1. Wiring the Winning Organization: Liberating enterprise ingenuity to gain unmatchable competitive advantage.
There are those few organizations that are able to deliver so much more value to society than their counterparts. The rewards are great for all their stakeholders. This is true in every sector, be it primary and raw materials, heavy industry, design and production of manufactured goods, tech and high tech, biotech and pharma, medical care and other social services. A key difference between the best and everyone else is how their management systems are designed and operated. For most, “the system” exists to optimize inanimate things, such “resource utilization” of capital equipment, flow of materials through machines, price per unit of produced items. In contrast, the best realize that organizations exist so the expertise of many individuals can be integrated into collective effort towards solving super hard problems like developing new medications, inventing and commercializing new technologies, exploring space, providing services with scale and scope previously unattainable. Therefore, their systems are designed and operated to create outstanding conditions in which people can give fullest expression to their own creativity and have that integrate into collective action towards common purposes. This presentation will establish the performance gap between top performers and their peers, highlight the mechanisms that distinguish them with concrete examples, and reference the theory that explains why they work.
2. Transforming decision making with Generative AI
Generative AI isn't hype; it’s how organizations will intelligently automate process and augment decisions. This talk will both explore and explain best opportunities - and best practices - for getting greater value from these technologies. From content generation to supply chains to Financial Planning & Analysis, Large Language Models (LLMs) will transform how firms productively - and profitably - engage with their best people and customers. Drawing on the speaker’s research and advisory work, this session will offer actionable insights into future applications of these essential technologies.
3. The EPOCH of AI
General Purpose Technologies (GPTs), including electricity, the combustion engine, the internet, and artificial intelligence (AI), are typically described as disruptive. These technologies often drive significant productivity gains for workers whose skills complement the new technology but can displace tasks that compete directly with it. Our research aims to identify the capabilities that currently complement AI and automation, as well as those that will do so in the future. We will present findings on which types of occupations are likely to be enhanced by AI and which are at risk of displacement.
"The Ramón Areces Foundation is not responsible for the opinions, comments or statements made by the people who participate in its activities".
Thursday, 14th November
09:30 h.
Welcome and Opening Remarks
Raimundo Pérez-Hernández y Torra
Director General of the Ramón Areces Foundation.
Eduardo Garrido
Program Director, MIT Corporate Relations.
09:50 h.
Wiring the Winning Organization: Liberating entreprise ingenuity to gain unmatchable competitive advantage
Dr. Steven Spear
Senior lecturer at the MIT Sloan School of Management.
Senior fellow at the Institute for Healthcare Improvement.
10:50 h.
Transforming decision making with Generative AI
Dr. Michael Scrage
Research Fellow, MIT Sloan School´s Initiative on the Digital Economy.
11:50 h.
Coffe Break
12:20 h.
The EPOCH of AI
Prof. Roberto Rigobon
Society of Sloan Fellows Professor of Applied Economics, MIT Sloan School Management.
Research associate, National Bureau of Economic Research.
13:20 h.
Rountable
Moderator.
Eduardo Garrido
Program Director, MIT Corporate Relations.
Dr. Steven Spear
Dr. Michael Scharge
Prof. Roberto Rigobon
13:50 h.
Closing remarks
Raimundo Pérez-Hernández y Torra
Director General of Ramón Areces Foundation.
Eduardo Garrido
Program Director, MIT Corporate Relations.
Steven Spear
Dr. Steve Spear DBA MS is founder of the business process software firm See to Solve, senior lecturer at the MIT Sloan School of Management, and senior fellow at the Institute for Healthcare Improvement. At MIT, he’s active in the executive education program and has advised some 50 masters theses.
Spear is author of influential publications. Wiring the Winning Organization, with Gene Kim, was launched with great praise. The High Velocity Edge received the Philip Crosby Medal from AME and one of his several Shingo Prizes. His first HBR article, “Decoding the DNA of the Toyota Production System”, is part of the lean manufacturing canon, and “Fixing Healthcare from the Inside, Today” received a McKinsey Award from HBR. He’s written forewords for books including Transforming Mental Health Care and The Flow System. Where he’s published speaks to the broad applicability of the ideas about which he writes. These include HBR three times, Sloan Management Review, US Naval Institute’sProceedings, Sea Technology, Annals of Internal Medicine, Academic Medicine, Health Services Research, the Journal of Nursing Administration,Joint Commission Journal on Quality and Patient Safety, School Administrator, the New York Times, the Boston Globe, and USA Today. He has another book, forthcoming, “Creating a Defense Innovation Doctrine for 21st Century Challenges,” with Steve Blank (of lean launchpad fame) and COL (ret) Pete Newell.
Spear’s work has delivered transformative ideas to organizations, informing the creation and deployment of Alcoa’s Business System, which simultaneously generated great cost savings and a marked reduction in workplace risk, the Pittsburgh region’s ‘perfecting patient care system’, which helped eliminated terrible complications and reduce over burden on staff while adding capacity, DTE’s operating system, which helped reduce cost and improve field service performance, and the Pittsburgh Women’s Center and Shelter victim abuse hotline overhaul, which reduced the time to get a victim resettled from four days to four hours. Spear’s also been principal advisor to public sector leaders included senior officers in the US Navy over more than a decade and an Undersecretary for Health Affairs at the VA. .
Roberto Rigobon
Roberto Rigobon is the Society of Sloan Fellows Professor of Applied Economics at the Sloan School of Management, MIT, a research associate of the National Bureau of Economic Research, and a visiting professor at IESA.
Roberto is a macro-economist who concentrates on measurement issues: economic, social and ethical. He studies financial contagion, and the propagation of shocks through economic networks. He is a co-founder and director of the Aggregate Confusion Project which studies how to improve ESG measures. He is one of the two founding members of the Billion Prices Project that produce alternative measures of inflation in many countries.
Roberto joined the business school in 1997. He has won 5 times the teacher of the year award, and three times the excellence in teaching award at the Sloan School. He got his Ph.D. in economics from MIT in 1997, an MBA from IESA (Venezuela) in 1991, and his BS in Electrical Engineer from Universidad Simon Bolivar (Venezuela) in 1984. He is married with three kids.
Michael Shrage
A Fellow at MIT Sloan School's Initiative on the Digital Economy, Michael Schrage's research, writing and advisory work focuses on the ‘behavioral economics’ of models, experiments and metrics as platforms for transforming customer lifetime value creation. In addition to his teaching and consulting, he is author of ’The Innovator’s Hypothesis’ [MIT Press 2014], ‘Who Do You Want Your Customers To Become?’ [Harvard Business Review Press 2012] and ‘Serious Play’ [Harvard Business Review Press 2000]. ‘Recommendation Engines,’ his latest book, was published September 2020 by MIT Press.
Michael’s current research explores the generative future of KPAIs - KPIs as intelligent software agents - and strategic measurement analytics - in collaboration with Google, McKinsey, Cognizant, Deloitte and the Sloan Management Review – paying special attention to how smarter metrics influence leadership style and substance. He’s run several ‘promptathons’ on these themes. Other research examines the interplay of ’network effects’ with human capital innovation. His pioneering work in ‘selvesware’ - he coined the word - highlights the future of agency as digital media augment aspects, attributes, and talents of productive individuals. He is an angel investor and advisor to several start-ups in these digital spaces.
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