MIT Sloan Management Review Article on Becoming an ‘AI Powerhouse' Means Going All In
- Randy Bean, Thomas H. Davenport
- MIT Sloan Management Review
There are plenty of organizations that are dabbling with AI, but relatively few have decided to go all in on the technology. One that is decidedly on that path is Mastercard. Employing a combination of acquisitions and internal capabilities, Mastercard has the clear objective of becoming an AI powerhouse. Just what does that term mean, and how is it being applied at the company?
What’s an AI Powerhouse?
Some refer to the idea of aggressive, pervasive adoption of AI as being “AI first.” Others use the term “AI fueled” or “all in on AI” (that’s Tom’s favorite, since it’s the title of his forthcoming book on the subject). Mastercard prefers “AI powerhouse.” Regardless of the descriptor, the concept refers to organizations that apply AI throughout their businesses, using it to either transform operations or develop new products, services, and business models, or both. These companies employ multiple AI technologies, develop many use cases, and put them all into production deployment.
About the Author
Thomas H. Davenport (@tdav) is the President’s Distinguished Professor of Information Technology and Management at Babson College, a visiting professor at Oxford’s Saïd Business School, and a fellow of the MIT Initiative on the Digital Economy. Randy Bean (@randybeannvp) is an industry thought leader, author, and CEO of NewVantage Partners, a strategic advisory and management consulting firm that he founded in 2001. He is the author of the book Fail Fast, Learn Faster: Lessons in Data-Driven Leadership in an Age of Disruption, Big Data, and AI (Wiley, 2021).
In this Book
MIT Sloan Management Review Article on Becoming an ‘AI Powerhouse’ Means Going All In