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Today's news:
1. IDC: In the first quarter, the shipment volume of the wearable device market was 33.67 million units, a year-on-year increase of 36.2%. With the increase in sales, the pace of market shipments has accelerated significantly.
2. The popularity of European travel during the summer has increased significantly year-on-year, especially in France and Germany. In the first two weeks of June, the popularity of flight bookings from major cities in China to Paris in July increased by more than 70% year-on-year, and the popularity of hotel bookings in Paris increased by nearly 150%.
3. Kedglobal: According to Samsung insiders, Samsung Electronics will launch a three-dimensional (3D) packaging service for high-bandwidth memory (HBM) within the year. It is expected that this technology will be used for HBM4 to be launched in 2025.
4. In May, the proportion of natural gas and liquefied natural gas supplied by Russia to Europe was 15%, exceeding the United States (14%) for the first time in nearly two years.
5. 36Kr: It is reported that TSMC plans to increase prices. The increase in 3nm foundry prices may be more than 5%, and the annual quotation of advanced packaging next year will also increase by about 10%-20%.
6. Korea Tourism Organization: From January to April, the number of foreign tourists received surged by 86.9% year-on-year. China increased by 470.1%, Japan increased by 85.7%, and Southeast Asian countries such as the Philippines (75.7%) and Indonesia (50.8%) showed double-digit growth.
7. In the short term, some urban projects have begun to land, and the market size is expected to reach hundreds of billions. In the medium and long term, the market for intelligent connected vehicles has broad room for growth. Under the neutral expectation scenario, it is expected that the value of the intelligent connected vehicle industry will increase by 729.5 billion yuan and 2582.5 billion yuan in 2025 and 2030, respectively, with an average annual compound growth rate of 28.8%. The industry involved in vehicle-road-cloud integration can be divided into four major parts: intelligent connected vehicles, intelligent roadside infrastructure, cloud control platform, and basic support. Among them, intelligent connected vehicles account for the highest value and are the core of the entire intelligent connected vehicle industry.
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Today's Insights: Will your job be replaced by AI？
At the forefront of workplace technology, particularly artificial intelligence (AI), lies the transformative vision of a Harvard Business School professor. This pioneer in digital transformation has extensively studied its profound impact on the business world. His book, "Competing in the Age of AI," underscores a crucial shift: customers now anticipate AI-enhanced experiences from companies. Consequently, business leaders must ensure that all employees, not just those in tech roles, engage with AI-related experiments, sandboxes, internal boot camps, and practical use cases. In modern business, change and change management have evolved from optional skills to essential competencies.
Exploring the evolving landscape of work, a video series titled "The New World of Work" sheds light on how businesses can prepare for the future. In a recent episode, a Harvard professor and the Editor-in-Chief of Harvard Business Review delve into the nuances of AI's role in transforming businesses.
Years of research and collaboration with companies revealed that AI, machine learning, and digital technology are fundamentally altering the nature of business. The traditional frameworks of modern American corporations, established in the early 20th century, are being restructured. AI-focused companies are redefining their business models, value creation, operational processes, and customer service paradigms. For instance, consider the seamless, automated experiences offered by Google, Amazon, Alibaba, and Netflix. These companies operate on principles vastly different from older corporations like General Electric, which relied heavily on human-led processes.
In the new AI-driven enterprises, machines and algorithms are central. They automate tasks, transactions, and activities, with humans overseeing the design, testing, and regulation of these algorithms. This shift necessitates a fundamental change in how companies operate and deliver value.
Businesses today have no choice but to adopt AI and digitize their core operations. Our daily lives are increasingly mediated through AI-enhanced transactions, smartphones, and various consumer tech products. This transformation is already underway, and companies must keep pace with the evolving expectations of consumers who are accustomed to swift, seamless AI-driven experiences.
For instance, the frustration of Indian consumers when an Uber or Ola car doesn't arrive within minutes exemplifies the high expectations set by AI-first experiences. Similarly, people expect quick resolutions for transaction disputes on platforms like Amazon or Uber. However, the same individuals might tolerate lengthy customer service interactions or onboarding processes within their own companies. This disconnect highlights the urgent need for businesses to align with the AI-driven standards of consumer platforms.
The cost of transitioning to AI and digital operations is decreasing, and comprehensive playbooks are readily available. The real challenge lies not in technology, which accounts for only 30% of the difficulty, but in organizational transformation. Every executive and employee needs to cultivate a digital mindset. This involves understanding how these technologies work and how to implement the necessary organizational changes to leverage them effectively.
In the context of a smaller entity like the Harvard Business Review, readers expect a Google-like search experience and an Amazon-like purchasing process. Any deviation from these high standards leads to dissatisfaction. Thus, businesses must strive to improve service quality, even with limited resources. Forming strategic partnerships and continuously upgrading processes can help meet these elevated expectations.
Looking ahead, the next wave of technological advancement is generative AI, but this will not be the last. Future developments, such as quantum technology, will bring new challenges and opportunities. Businesses must build a culture and mindset that anticipates and adapts to these technological waves. Continuous learning and a proactive approach to change are critical.
Learning is a fundamental task for executives and leaders. This continuous process doesn't require becoming an AI engineer or data scientist but necessitates a solid understanding of AI and machine learning. Just as accounting is essential for understanding business value, AI is becoming integral to business operations. Companies should invest in their employees' learning, fostering a two-way dialogue that embraces continuous education.
Change management is equally vital. It has become a core skill for executives and leaders. Driving and maintaining continuous change, developing a change DNA within the organization, is essential for adapting to the evolving world. Successful companies treat change as a skill that needs to be learned, practiced, and constantly adjusted.
An anecdote from the COVID-19 pandemic illustrates the power of adaptability. An elderly family member, initially a tech novice, transitioned to daily tech use to attend church services online. With the help of a tech-savvy teenager, he went from relying on friends for online connections to independently managing his digital interactions. This transformation underscores the importance of embracing change and the ability to adapt, regardless of age.
In conclusion, as businesses navigate the AI era, they must prioritize learning and change management. Embracing AI and digital transformation is not optional but necessary for staying competitive. Companies that invest in continuous learning and cultivate a culture of adaptability will thrive in the dynamic landscape of modern business. By doing so, they can meet the high expectations of today's consumers and pave the way for future success.
