On this week’s episode, MT’s editorial team discusses the pros and cons of AI avatars and whether our consumption habits are hurting British business.

Swiss-based bank UBS is using AI to create avatars of its experts that will appear in video content for clients, in a move it claims will be a win for productivity. The technology, while not a new phenomenon, raises significant questions about AI’s potential impact on human connection and relationships in business. We discuss the pros and cons of using digital clones.

If the other outcomes of Trump’s manoeuvrings on US-China trade are still unclear, one thing he has achieved has been to thrust the issue of “de minimus” exemptions firmly into the spotlight. In April, the UK government announced it would be reviewing its own rule, which permits packages worth less than £135 to enter the country duty-free – a loophole that many credit with fuelling the rise of Chinese retailers such as Shein and Temu. As one Telegraph commentator wrote that UK homes have become “temporary staging posts for goods on their way to the landfill”, MT asked its readers: is the UK bingeing on cheap imports at the expense of British business? We bring you a flavour of the responses.

Links:

https://www.managementtoday.co.uk/ai-avatars-future-business-communication/long-reads/article/1920337

https://www.managementtoday.co.uk/bingeing-cheap-imports-expense-british-business/opinion-and-analysis/article/1918842

Credits:

Presenters: Antonia Garrett Peel and Éilis Cronin

Producer: Inga Marsden

Artwork: David Robinson

Hosted on Acast. See acast.com/privacy for more information.

“Any idea you can think of for a new product, I guarantee you that somewhere in the world there’s six other people thinking of the same thing.”

If those words from L.E.K. Consulting vice chair Stuart Jackson come as something of a reality check, consider also the challenges involved in achieving superior functionality to existing offerings, defining a market, and gaining those consumers’ trust. And that’s not to mention the incumbent channels, suppliers and even parts of your own organisation that will be “trying to find ways to preserve the current order of things”.

It’s little wonder then that the failure rate for new products is so high. Fortunately, however, there are steps you can take, as Jackson and co-author Ilya Trakhtenberg write in their new book Predictable Winners, to “systematically identify and retire risk at each step of the innovation journey”.

This week's guest on Leadership Lessons, Jackson offers listeners advice on doing just that. He also talks about the pitfalls of sticking to incremental innovation, the role of leadership mindset, and where to find the 'low-cost signals' that can offer clues as to what would-be customers really want.

*This episode was recorded on 22nd April.

Credits:

Producer: Inga Marsden

Presenter: Antonia Garrett Peel

Artwork: David Robinson

Hosted on Acast. See acast.com/privacy for more information.

On this week’s episode, MT’s editorial team discusses whether businesses are burying their heads in the sand when it comes to cybercrime and some common traps that risk undermining your international expansion efforts.

It’s been a torrid time for Marks & Spencer as it continues to battle a cyberattack that according to one estimate is costing the retailer £43m a week. And it’s not the only one to fall victim. The Co-op has said it is now in the “recovery phase” after an attack forced it to take crucial systems offline, while the same group has also claimed responsibility for an attempted hack of high-end department store Harrods. Their plight is hardly unique, but are businesses facing up to the threat to their operations? We asked our audience.

Expanding overseas can require leaders to revert to a “start-up mentality” – at least that’s the argument of Tipalti president Rob Israch, who authored our second piece for this week. We bring you his tips for avoiding common pitfalls of international expansion, including what leaders typically get wrong about localisation and how to ensure your product, service and culture resonate with local customers and employees.

Links:

https://www.managementtoday.co.uk/mt-asks-businesses-burying-heads-sand-cyber-crime/opinion-and-analysis/article/1916933

https://www.managementtoday.co.uk/m-s-lessons-retailers-approach-crisis-communications/opinion-and-analysis/article/1917341

https://www.managementtoday.co.uk/leaders-wrong-localisation/opinion-and-analysis/article/1916615

Credits:

Presenters: Antonia Garrett Peel and Éilis Cronin

Producer: Inga Marsden

Artwork: David Robinson

Hosted on Acast. See acast.com/privacy for more information.