AI And The Death Of The Large Dinosaurs
Morning. In my Phd in 2001, ‘Transformation of Financial Services Companies. How To Map and Measure Customer Value Created With Relationship Capital”, I cited two professors from the Stern School of Business, Smith and Walter, in an article in the Financial Times.
They stated that the Internet was ‘the asteroid’ wiping out ‘the large dinosaurs’ across industries including in Financial Services: the large traditional universal banks, competing on size. Why? Because the large traditional firm had become uneconomic in comparison with new ‘species’: high-tech startups using ICT to start all over with the virtual organization as organizational structure in their externally alignment new AI-powered business model and AI-powered organizational design with hybrid working and working at home including virtual teams:
New companies that were able to start, grow and scale ‘staying small’ with the right culture, the right leadershipstyle and right core goals and core values using ict and now AI. Designing and implementing a digital blue ocean business strategy. Thus avoiding digital red oceans. where large dinosaurs are competing with each other on ‘digital market share’. They have much lower organizational costs than the large dinosaurs.
More: The Great AI-Layoff, Leaving The Corporate Rat Race & Contact Tony For A Video Consultation
Afer 2001, Internet was ‘the asteroid’ wiping out ‘the large dinosaurs’ across industries including in Financial Services: the large traditional universal banks, competing on size.
The democratization of AI and the exciting continued daily ‘tsunami online’ of easy to use, non-corporate affordable AI-powered solutions, since in 2022 ChatGPT, Dall-E, Midjourney and Stable Diffusion were launched, is the second asteroid that is wiping out the large dinosaurs, large bureaucratic organizations that have become economically unviable in comparison with ‘lean & mean’ online newcomers.
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