What Is An API? An API, or Application Programming Interface, is a set of rules and specifications that define how software components should interact with each other. APIs are used to allow different pieces of software to communicate with each other and share data. APIs are everywhere in the modern world. APIs also play an important role in implementing AI across every aspect of the organisation. To integrate systems and automate tasks using...
What Is The Law of Diminishing Firms? According to the so-called 'Law of Diminishing Firms', introduced by Downes and Mui in , the well-known ICT-related laws of Moore and Metcalfe have reinforced each other. The Law Of Diminishing Firms states that companies can become smaller and smaller by using ICT and digitally transform themselves in an integrated way from a traditional hierarchical business organization to a virtual organization. As most...
10 Types of Innovation: The Discipline of Building Breakthroughs by Larry Keeley, Helen Walters, and Ryan Pikkel. The book argues that there are 10 distinct types of innovation that can be used to create breakthrough products, services, and business models. These 10 types are: ✔️ Profit model innovation: This is about finding new ways to make money from your offering. For example, Netflix's profit model innovation was to charge a...
AI Transformation - What It Is? AI Transformation is key for corporates, startups and scaleups to future-proof their organizations in the new AI driven digital economy. What is Ai Transformation? "AI transformation is the process of driving digital transformation through Artificial Intelligence to integrate AI into all areas of a business and the organization and to change the way how your company is value for and with your customers fast and...
A.I. including ChatGPT presents serious threats for corporate FinTechs if C-level executives and other senior managers do not define and implement the right AI-strategy in their organisation in an integrated way and fast. Here is an overview. Fintech corporations that do not implement AI, including ChatGPT and other Open-AI based applications, in time in their whole organisation may face serious threats going forward. Survival will be difficult...
Survival Strategies For Corporate FinTechs. Many corporates in different industries including in Financial Services are in big financial trouble because of the Covid-19 crisis and even more after the invasion of Ukraine by Russia. Therefore, executives, senior managers and management consultants need to be able to take the right short-term measures and define and implement the right survival strategy and survival plan for those companies before...
