Coming into the first class of Social Media and Digital Business, my feelings were mixed. I did not know what to expect. As an MBA, I have taken a couple of classes relating to technology, but for the most part they were either from the managerial perspective, or more technical. When I started the class, I did not know what to expect, but I did definitely like it more than the other classes. Among the things that I enjoyed in no order of likeness:
- Artificial Intelligence
- The Sharing Economy and New Business Models
- Collective Intelligence
Blockchain was something that interested me before coming into class. Being previously involved in financial markets, I have seen how bitcoin has exponentially grown in value. Before coming into this class, I thought that blockchain was only used for financial transactions, but I was wrong. Blockchain is used for so much more than that and the true value is not in bitcoin but rather on blockchain. I learned that blockchain is used for digital identity, and you can have basically all your credentials in blockchain, rather than having fragmented identities all scattered through the internet. Moreover, even smart contracts can be managed through blockchain in a more efficient manner as to is currently managed nowadays.
This was another topic that I found interesting. The readings of how artificial intelligence will change our lives was really interesting. It is true, that we can say that we are in the midst of a second industrial revolution where jobs previously to not be automated are now being automated. I thought that finance jobs would be complicated to automate, but what we are seeing, is that automation is revolutionizing the industry. I do believe that AI is here to stay and we will see more changes to come.
The Sharing economy
The sharing economy was something that I definitely did like. We are in the midst of the sharing economy, dominated by players such as Uber. I also loved, the Pipelines, platforms, and the new rules of strategy, which talked about how we shouldn’t think about business models as we previously thought, but rather we should think about it as platforms. I do indeed think this is extremely valuable, because we are seeing businesses that have a much better platform, albeit on the digital space, destroying businesses. We have seen this with Uber, with Amazon, etc.
This is another topic that I found really interesting, because it made me think of how collectively ideas flow. The internet is a collection of ideas and in a sense it’s the wisdom of the crows. Moreover, I loved the Gin, Television, Cognitive Surplus reading, which talked about how before people would use time in a better way, and the worst way to use your time is to watch TV. Rather if during their free time, we had people doing more productive stuff, such as writing in Wikipedia, we would have a much better world.
Finally, this class wouldn’t be complete if we didn’t talk about Amazon. Throughout the semester, I have been amazed of how many products Amazon has introduced into the market and how they are expanding into other parts of businesses, even brick and mortar.
Ultimately, I enjoyed the class and readings and will definitely be one of the highlights of my MBA.