Book Review
The book ‘ Machine, Platform, Crowd: Harnessing Our Digital Future ’ by Andrew McAfee and Erik Brynjolfsson is continuation of their previous book ‘ The Second Machine Age ’ and seeks to reflect on the impact of technology in our lives today. In the book, McAfee & Brynjolfsson (2017) reflect on how technology is changing the business landscape considering that the extensive use of technology seeks to build on the perception that people are much more likely to experience a significant change in their perception. The book reflects on how the continued use of technology may impact the economy today, as well as, in the future taking into account that people are much more likely to advance technology further. The expected changes in adoption of technology is that it will build the general perception on what it means to reflect on the continued use of technology as one of the key aspects that defines business performance.
McAfee & Brynjolfsson (2017) maintain that for companies to be able to build on their success, they must be able to capitalize on the changes occurring within the business environment with the focus being towards using minds and machines within the same context. Specifically, McAfee and Brynjolfsson argue that the adoption of technology is likely to create a new preserve through which to ensure that businesses are able to define their respective positions. They seek to reflect on the fact that the changes occurring in the world with regard to advancements in technology are likely to create a fundamental avenue through which to define change. In their previous book, the two authors were able to point out that the first phase of the adoption of technology reflected more on the fact that indeed the business world was changing at a rapid rate, which serves as one of the ways through which to define overall changes.
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The book has been separated into three distinct parts with each of these parts being considered as key towards reflecting on what would be expect in understanding how technology would affect the world today. In the first part, Mind and Machines , McAfee & Brynjolfsson (2017) reflect on the importance of having to ensure that companies would invest more on their ability of automation with the focus being towards limiting the involvement of human beings. Automation is seen as one of the key factors that define success for businesses, as it helps in ensuring that companies are able to avoid the possibility of human errors (Schmidt & Cohen, 2013). In this case, businesses are viewed from the perspective that they must be able to embrace a structured avenue through which to bring out their automation abilities. Through automation, businesses will be in a better position through which to guarantee effective performance in meeting their set out goals.
In their analysis on how companies may be able to advance automation, McAfee & Brynjolfsson (2017) argue that companies would be able to improve on their decision making positions depending on their abilities to promote automation. An example can be seen from some of the key companies that are considered as being successful in the world today including Uber and Facebook among others. All these companies have sought to minimize on the involvement of human beings with the sole intention being towards maximizing on their automation. However, the two authors take note of the fact that future companies do not necessarily need to focus on automation of all process, as this would mean that their abilities to employ would reduce. Instead, the companies would engage in a process through which to harness the capacity among human beings with the aim being towards ensuring that they are able to meet their respective targets.
Instead, McAfee & Brynjolfsson (2017) argue that companies would be able to build on overall capacity for them to achieve better performance by using the automated processes as part of their respective positions in collecting data. The data that they collect will serve as key towards ensuring that they are able to expand on their business perspectives and positions. One of the key areas of focus for businesses is on artificial intelligence (AI), which businesses must utilize effectively in ensuring that they defining their respective positions. Artificial intelligence (AI) seeks to businesses are able to create a combination between the use of human beings and technology as part of their business approaches (Rappa, 2004). In the book, the authors argue that AI has been viewed as being responsible for a wide array of developments in the world of technology today with the focus being towards maximizing on their capacities to deliver.
McAfee & Brynjolfsson (2017) argue that the greatest achievement for businesses would arise in the event that minds and machines collaborate as part of their business approaches aimed at restructuring their capacities to meet set out goals and objectives. The collaboration would be viewed as one of the ways through which businesses are able to harness overall capacity that would allow them to meet some of their set out goals and objectives. Additionally, this would also mean that businesses would be able to build on their strategic positions in trying to engage within the competitive business environments. Tapscott & Barry (2009) reflect on the continued collaboration between mind and machines arguing that the most possible outcome is that companies would be able to tap into some of the social drivers that include compassion, pride, and embarrassment among others. The ultimate result of tapping into the social drivers is that this will serve as one of the ways through which to define performance from a business perspective.
In the second part of the book, Product and Platform , McAfee & Brynjolfsson (2017) seek to engage in an analysis of business platforms that can be considered as being successful for businesses in a bid to ensuring that they are able to compete within a given environment. According to the definition give, it is clear that businesses should always focus their attention towards limiting any possible errors that are likely to arise within the business environment. Additionally, the platform should also have the capability of projecting a near-zero margin cost with the sole intention being towards minimizing operational costs. The authors believe that companies may be able to define their respective platforms with an aim of having to select the platform that they believe would have the most effective outcome for the business as a way of ensuring that they would define possible business expectations.
One of the key platforms that have been discussed within this book is the digital platform through which businesses would be able to engage or compete as part of advancing the overall possibility of meeting some of their set out goals. McAfee & Brynjolfsson (2017) argues that the adoption of a digital platform means that the digitalization and networking of goods would remain as being automatic with the sole intention being towards enhancing overall possibility of meeting set out goals. That means that businesses find themselves in a better position through which to enhance their overall possibilities in terms of business performance depending on their engagement within the digital platform. The authors argue that businesses are in a better position through which to advance their capacities in ensuring that they meet their respective goals and responsibilities, which would serve as guarantees for positive outcomes focusing on the business position through which to maximize on business positioning.
McAfee & Brynjolfsson (2017) build their discussions on product and platform from the perspective that demand rises in the event that cost margins reduce; thus, serving as one of the key ways through which to ensure that businesses understand what is expected of them. An example can be seen from the case of Apple, Inc., which remains as one of the notable companies operating within the technology industry today. The company has been able to capitalize on external apps, which allow users to pay for these apps or some of the features of the app, which allows the company to raise approximately 30% of its sales. Al-Debi, El-Haddadeh, & Avison (2008) argue that business success depends wholly on the ability for companies or organizations to capitalize on all areas through which to advance their respective positions within the business environment. That means that the digital platform provides companies with a much better position for having to engage in a rather effective manner within the business front.
In the last part of the book, Core and Crowd , McAfee & Brynjolfsson (2017) point out that the advent of the internet has sought to create a fundamental position through which businesses are able to engage with their clients while creating an upstage for new participants. The book seeks to examine the main difference between a world library and the web from the perspective that both may seek to describe generalized avenues through which to gain knowledge. The main difference noted is that a library may be considered as a house filled with millions of books. On the other hand, a web may also be described as a library but it is not only filled with books but also filled with other learning materials that include music, pictures, and podcasts among others. The authors reflect on the extensive use of the web as one of the key ways through which to engage the crowd as part of advancing their position.
Reflection
Engaging in business studies requires students to have a wide range of information concerning the changing dynamics within the industry in order to provide an avenue for learning new concepts that are helpful in the business industry. The book “ Machine Platform Crowd: Harnessing Our Digital Future ” is an important tool for the business students as focuses on the provision of proper information that help students to understand the business environment and requirements for survival within the given environment. The authors of the book capitalize on the incorporation of crucial aspects that are necessary for the growth and development within the business environment in order to ensure success. An important aspect that helps in capitalizing on success within the business industry entails having crucial information concerning major trends and ways of overcoming challenges within the industry. In that case, the book is useful as it focuses on providing a comprehensive approach to the students on key issues that influence success within the business environment.
The book seeks to engage business students in a discussion of how to maximize on their use technology as one of the key factors that would determine their success in meeting some of their respective goals. The specific focus on technology is driven by the fact that the world is moving fast towards digitalization, which means that businesses find themselves in a rather challenging situation on which they are expected to change. The expected outcome of the change is that it will help towards introducing new dynamics on what to expect when dealing with business foundations. Additionally, it also creates a new avenue through which to ensure that businesses understand what is expected of them in their bid to competing within differentiated business environments. The sole expectation of this is that it enhances overall possibility for businesses to match their goals and objectives as part of their engagement.
The first critical element of consideration when undertaking in business studies is to understand the technological dynamics that are present due to technological advancements. Technology is an important aspect within the business world as it focuses on ensuring that businesses are in a position to keep up with global trends, which helps in capitalizing on success within any given field. The authors of the book presents high levels of tech accomplishments, which is a significant aspect that indicates the need for having adequate knowledge concerning technology when undertaking any research concerning business studies. Their performance is an indicator that business students are required to have major skills that help in operating computers and other technological devices. The skills are important considering that majority of business capitalizes on the implementation of technological advancements to undertake major operations, which require recording and analyzing business and global information concerning the industry.
Technology creates a new approach through which to reflect on what would be considered as a change in the business norms adopted as part of the business approaches taken with the sole focus being towards maximizing on business performance. The book creates a new dynamic through which to establish a framework through which to change the way technology impacts business. Additionally, this seeks to create a new understanding on what would be expected in the event that companies would adopt specific avenues through which to define overall change in the way that they use technology. Generally, this means that technology is likely to create a new avenue through which businesses are able to compete within their respective industries and business fronts.
According to McAfee & Brynjolfsson (2017), success in business is determined by the ability to balance between key components within the business environment, which helps in promoting effectiveness and efficiency within major operations. In this course, I have learnt that business students require to have managerial skills that help in creating major balance between the operation in order to capitalize on success within a given business environment. The book is therefore useful for the students as it helps in the provision of strategies that indicate how a business manager should capitalize on crucial aspects for business development and success. The authors maintain that it is necessary for companies to engage in the implementation of strategies that help in creating a balance between minds and machines, and a balance between products and platform. The balance between critical aspects within the business environment helps in ensuring that the companies are in a better position to grow and develop efficiently.
As a business manager, one is expected to have a clear understanding of what would be expected of him or her in ensuring that the business is well positioned towards defining business performance. Generally, this means that businesses will be able to reflect on some of the expected changes associated with the products and platforms in which they operate. That can be seen from the position that most of these businesses seek to create a major change in their respective positions as part of project their capacity to meet set out standards. The ultimate expectation of this is that businesses often establish a key front through which to advance their capacities with regard to their understanding of business from a managerial perspective. The ultimate outcome is that businesses are in a rather effective position through which to meet their respective goals and outcomes.
According to the authors of the book, companies should focus on making priorities on key operations within the company in order to be in a position to create a proper balance between various crucial aspects. The book is important to the business students as it helps in the provision of a wide range of information concerning the need for a balance in order to capitalize on success of any business. The book maintains that minds and machines are important aspects within a company considering they are a major resource that may help in promoting success within a business environment. According to McAfee & Brynjolfsson (2017), majority of companies in the world today have replaced mind with the machine, which is a crucial factor that contribute to the downfall of major companies. Lack of balance between the two factors results in the replacement that causes the failure in major business operations undertaken within the company.
It can be noted that the balance between minds and machines is effective towards creating a new dynamic in which businesses are able to compete in an effective manner while considering the overall possibility of business performance. The authors insist on the idea of having to promote collaboration between these elements with the focus being towards changing the business environment as part of their approach to success. For business students, this is an important aspect of consideration in their bid to building their performance fronts through which to ensure that they are able to engage effectively. That means that business students would be in a rather proactive position through which to determine some of the key expectations surrounding some of the key changes expected. The ultimate outcome of this is that it would mean that businesses are well advanced in their respective capacities to deliver on set out goals and objectives.
According to various studies undertaken within the course, I learnt that harnessing technology in data management and decision making plays a critical role in promoting success and growth within a business. The book in this case provided an explanation that companies that focuses on technological approaches to assist in data collection, recording, and decision making process tend to be more successful that the those that do not focus on the implementation. The book is helpful to the students as it outlines the importance of the implementation of artificial intelligence in major business operation in a bid to capitalize on growth and expansion. Through the information provided within the book, the business students will learn the impact of artificial intelligence on major business accomplishments. The students learn crucial aspects such as supervised and unsupervised learning, which are crucial elements that concern the issue of implementing artificial intelligence, within any given business environment.
The engagement in this book has provided me with a clear understanding of the importance associated with supervised and unsupervised learning with the specific focus being towards defining what would be expected from a business perspective. It is clear that students that intend to build their respective capacities in business must have a clear understanding of what to expect when dealing with supervised and unsupervised learning. The key expectation is that businesses would be able to change the way they view their business environments with the expectations being towards changing how they would be expected to use technology in a bid to meeting their respective goals. The students would be in a better position through which to ensure that they change the overall structure of performance as part of their engagement with regard to business performance while ensuring that they create a significant avenue through which to promote efficiency.
References
Al-Debi, M. M., El-Haddadeh, R., & Avison, D. (2008). Defining the business model in the new world of digital business. AMCIS 2008 Proceedings , 300.
McAfee, A., & Brynjolfsson, E. (2017). Machine, platform, crowd: Harnessing our digital future . WW Norton & Company.
Rappa, M. A. (2004). The utility business model and the future of computing services. IBM systems journal , 43 (1), 32-42.
Schmidt, E., & Cohen, J. (2013). The new digital age: Reshaping the future of people, nations and business . Hachette UK.
Tapscott, D., & Barry, B. (2009). Grown up digital: How the net generation is changing your world (Vol. 200). New York: McGraw-Hill.
