Platform Strategy: Transform Your Business with AI, Platforms and Human Intelligence

Description

What do Amazon, Google, Visa and AirBnB all have in common? They are all platform businesses. They know they can go beyond their industry segments. They capitalize on wider ecosystems that strengthen their offering and expand commercial opportunities. And now your business can do the same. Welcome to the world of platform businesses. In Platform Strategy one of the world's most creative men in business according to Fast Company and a leading strategy professor at a Financial Times top 40 business school show you the ropes. They lead you through the seven steps you can take to turn your business into a successful platform. Learn to harness emerging technologies like artificial intelligence, cement your business into thriving ecosystems and go beyond industry boundaries. Uncover how business leaders at companies as diverse as John Deere, KONE, and Visa are leading their businesses to the future by reinventing their business model. Authors Tero Ojanperä and Timo Vuori distil the disrupters' methods to an actionable blueprint. In Platform Strategy they put the emphasis on what you can do as leader; harness new technologies, work with partners but also crucially, recognize the fear of change in your people and utilize that energy to drive progress. More than just about technology, this book is at the centre of the leadership agenda for the future. Praise for Platform Strategy Title Page Copyright Page Contents List of Figures About the authors Foreword Preface Acknowledgements Introduction A new approach to strategy The elements of an industry-transcending platform strategy Seven steps for building an industry-transcending platform strategy 01 Turn fear into energy Executive fear: paralysis and panic Why do executives fear platforms and AI? Four steps to turn executive fear into energy Organizational fear: rigidity and resistance Four steps to turn organizational fear into energy Partners’ fear: scepticism and distrust Turn partners’ fear into energy through these steps Key takeaways for your organization 02 Remove friction Friction creates opportunities Search and effort costs Minimize search and effort costs with these steps Uncertainty and anxiety costs Minimize uncertainty and anxiety costs with these steps Opportunism-related costs Minimize opportunism-related costs with these steps Create magic Key takeaways for your organization 03 Focus your actions to create fans Successful platforms start with a focused offering Create your focused offering with these steps Continuous refinement and incremental expansion Refine and expand your platform with these steps Engaged communities multiply platform value Build an engaged community with these steps Key takeaways for your organization 04 Create a learning loop Learning loops strengthen your competitive advantage Effective AI use starts from business goals Develop your business goals for AI with these steps Learning without data is fantasy Produce relevant data with these steps Continuous learning means acting better every day Maximize continuous learning with these steps Key takeaways for your organization 05 Open up with an algorithmic handshake Application programming interfaces Start API development with the audience and value in mind Why and how do APIs generate value? Develop APIs as products and define a business model Create successful APIs through these steps Take a lifecycle view on APIs Key takeaways for your organization 06 Create the unexpected Conceptual insights need creative thinking Outside-in: starting from market trends and opportunities Develop outside-in conceptual insights through these three steps Inside-out: starting from your current strengths and assets Develop inside-out conceptual insights through these steps ‘What if we bought… ?’ Three ways to use the ‘what if we bought’ model Manage people and emotions to stimulate creativity Key takeaways for your organization 07 Organize around AI Replace formal hierarchy with AI Use these steps to replace formal hierarchy with AI Learn to work with AI Use these four steps to learn to work with AI Transcend physical constraints in development with digital twins Build digital twins through these four steps Key takeaways for your organization Conclusion References Index