Robots add real value when working with humans, not replacing them — Matt Beane

MIT Sloan Ph.D. Student Matt Beane

MIT Sloan Ph.D. Student Matt Beane

From TechCrunch

In the popular media, we talk a lot about robotsstealing jobs. But when we stop speculating and actually look at the real world of work, the impact of advanced robotics is far more nuanced and complicated. Issues of jobs and income inequality fade away, for example — there aren’t remotely enough robots to affect more than a handful of us in the practical sense.

Yet robots usually spell massive changes in the way that skilled work gets done: The work required to fly an F-16 in a combat zone is radically different from the work required to fly a Reaper, a semi-autonomous unmanned aerial vehicle, in that same zone.

Because they change the work so radically, robot-linked upheavals like this create a challenge: How do you train the next generation of professionals who will be working withrobots

My research into the increasing use of robotics in surgery offers a partial answer. But it has also uncovered trends that — if they continue — could have a major impact on surgical training and, as a result, the quality of future surgeries.

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Umbrage against the machine — The return of humans — Paul English

MIT Sloan Senior Lecturer Paul English

MIT Sloan Senior Lecturer Paul English

From Re/code

As humans, we crave contact with one another. From tiny newborn babies who need their mothers, to the elderly who long for their children, throughout all stages of our lives, we reach for each other. It’s always been this way. Technology can’t replace the very thing that makes us human.

Many years ago, I was left to care for my dad, who had early-stage Alzheimer’s. One of the first things I had to do was take away his car, as his driving had become dangerous. This was difficult. My Dad was a “car guy,” and he had taught me everything I know about cars — it was a love we shared together. Taking away his car left him incredibly isolated; he would try to call his friends during the day, only to be confused by answering machines that sounded like humans. Sometimes, Dad would even call companies who sent him bills, claiming he had questions, but really, I think he just wanted to reach out to another person. Again, he was foiled by the machines who told him to press 1 for this, and press 2 for that, always finding ways to keep him from connecting with an actual human.

As a response to this, I started GetHuman, a website that allows customers to call real people at big companies without having to wait on the line or go through a million robots. Today, GetHuman.com receives millions of visitors a month, helping people with customer service issues at places like Verizon and Comcast.

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When selling virtual products abroad, don’t put prices on autopilot — Joey Conway and Catherine Tucker

MIT Sloan Assoc. Prof. Catherine Tucker

MIT Sloan Assoc. Prof. Catherine Tucker

From TechCrunch

If you have a physical product that you want to sell in more than one country, determining the price in different markets can be challenging. You might have to open an office in each country, or at least hire a consultant to assess local demand and analyze the competition.

But if you have a virtual product — say an app for a mobile phone — setting the price for it in different countries is easy. Using the individual exchange rate, the app store instantly will convert the price from your home country to any of the world’s many currencies.

This is, very likely, how prices are set for most smartphone applications sold in different countries. As developers prefer to spend time solving technical challenges, it is all too convenient to leave the responsibility of currency calculations and pricing to Apple or Google or some other virtual marketplace.

But is this the best approach when sellinginternationally? Is there a more profitable way to price virtual products sold in different currencies?

We explored these questions in an experiment that was both a real-world business trial and an academic exercise. We wanted to see whether we could boost revenue for a virtualproduct, Root Checker Pro, an app that helps Android users customize their phones. The app is sold through Google Play — the app store for Android devices — in more than 130 countries.

For our experiment, we selected six different currencies — Australian dollar, Canadian dollar, British pound, Mexican peso, Malaysian ringgit and Saudi riyal. Over six months, we charged various prices for the app in each of the currencies to see how sales and revenue would respond.

Read the full post at TechCrunch.

Joey Conway is creator and owner of Android app Root Checker Pro. He received his MBA from the Sloan School of Management in May 2015.

Catherine Tucker is a Professor of Marketing at MIT Sloan.  She is also Chair of the MIT Sloan PhD Program.

You can prevent a ‘Panama Papers’ scandal at your law firm — Lou Shipley

MIT Sloan Lecturer Lou Shipley

MIT Sloan Lecturer Lou Shipley

From Huffington Post

The data breach at the law firm of Mossack Fonseca in Panama sent shock waves around the world recently with the prime minister of Iceland stepping aside, Swiss authorities raiding the headquarters of the Union of European Football Associations, and relatives of the president of China linked to offshore companies. The size of the breach was also shocking with 2.6 terabytes of data leaked. That’s 30 times bigger than the WikiLeaks release or the Edward Snowden materials. However, the most shocking part of the “Panama Papers” story is that the breach and exploit of the popular open source project Drupal was totally preventable.

Everyone knows that law firms manage large amounts of highly sensitive information. Whether the data involves an individual’s estate plan, a startup’s patent application, or a high-profile merger and acquisition, clients expect their information to be secure. Indeed, lawyers are required to keep this information both confidential and secure. Yet, despite the very high level of security owed this information, many firms lack an IT staff and outsource the creation and maintenance of their data management and security services. Once outsourced, there is an assumption that someone else will effectively manage the data and ensure its security.

This is many firms’ first mistake. Even if they aren’t managing their own IT, law firms still have an obligation to make sure that data is properly secured. This means asking frequent questions about security and ensuring that the vendor is implementing reasonable security measures.

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