Monthly Market Commentaries
The LEF Monthly Market Commentaries (listed on the right) provide our latest thinking on today's rapidly changing business/IT marketplace. They are designed to build upon and update the work we do in each of our major research domains.
Written in a more informal and opinionated style, each piece reflects the views of its author. If you have any feedback, suggestions, or wish to discuss any aspect of these commentaries, please contact David Moschella, our Global Research Director.
One firm’s employee is another firm’s customer. This means that the great majority of businesspeople are both customers and employees at the same time. Yet today, most firms treat their customers and their employees as if they were entirely different species. This is especially true with information technology. We take for granted that customers should be able to use whatever devices and internet services they want, but employee IT is often tightly constrained. Tensions have been inevitable.
At first, it feels like a bad, even offensive idea. After the shooting of children in Newtown, reports of chemical weapons in Syria, threats of nuclear missile attacks from North Korea, and now the bombings in my home town of Boston, why would anyone make a play on the words ‘Weapons of Mass Destruction’?
One of the highlights of our 2013 US Executive Forum held in Washington DC on March 13 was the sharply contrasting talks given by two of today’s leading digital economy thinkers. First up was MIT’s Andrew McAfee, co-author of the influential book Racing Against the Machine. Andrew argued that while computer technology is enhancing our lives in countless important ways, there is a downside. Information technology has eliminated – and will continue to eliminate – a wide range of jobs, not just clerks and secretaries, but increasingly highly skilled professionals such as writers, translators, doctors, and yes, even drivers. Andrew reminded us of the folly of continually thinking that there are certain things that computers “just can’t do”. This list gets shorter every day. In Andrew’s view, the emergence of IT marks an important economic and societal inflection point where our overall wealth and prosperity continue to increase but are increasingly decoupled from individual wages and employment.
The success of open-source software has far exceeded initial expectations. When Linus Torvalds launched the Linux project back in 1991, few people imagined that free software developed by open communities would ever match – let alone surpass – the efforts of industry giants such as IBM and Microsoft. Yet in a wide range of areas this has been precisely the case. Without the contributions of Linux, Apache, Java, Perl, Python, MySQL, Hadoop and many other open initiatives, the internet would be a smaller, less interesting and much more expensive place.