Fringe Legal #5: learning effect / culture of transformation / virtual Tour de France
Here are four things that were worth sharing this week:
I tend to start reading multiple books around the same time. The benefit of consuming information in this way is that it increases the odds of finding cross-functional themes across different disciplines.
As I prepared for my discussion with Jeremy Coleman this week (see below), I thought about transformation, and what it means from a business perspective. Ultimately, I settled on this as the core principles:
discover today what matters tomorrow and taking action
The authors of Competing in the Age of AI give one example of how to do this using the "learning effect." With regards to AI, this means improving the learning capability by accumulating more data. The advantage of doing this is to offer better quality (e.g., Google search results are more accurate), and provide a more extensive breadth of service.
The example of UberEats particularly resonated with me. Their data capabilities provide a detailed view of taste and menu preference by micro-geography (think, just your neighborhood). Leveraging this information, they can provide a benefit to both ends of the transactional chain:
- For the consume the menus are more tailored with recommendations, trends, etc.;
- For the restaurants, they can inform about changing preferences and perhaps even provide data-driven decision-making i.e., we think it's going to be busier than usual this Wednesday, and people are more likely to order appetizers!
The question to ponder is: what would it look like to apply the learning effect to your practice? What benefits would it provide your clients (internal and external)?
Law firm Linklaters released the mid-year update to their Technology Legal Outlook report. They describe the purpose as "we explore seven of the key global trends likely to shape the technology sector in 2020 and consider the legal implications for businesses".
It's a relatively short read, that gives one perspective into some key trends so far this year.
This week on Litera TV I had a fantastic conversation with Jeremy Coleman, Head of Innovation at Norton Rose Fulbright. We spoke about all things [digital] transformation. How do you build a culture supportive of transformation, and what does the journey look like.
July, to me, is all about cycling with weeks of it dedicated to watching the Tour de France. However, due to COVID-19, the event has been postponed to later in the year.
In the meantime, the Tour went virtual. I was a little skeptical of what this would be like, but the folks at Zwift have done a great job. I particularly enjoy that you get to see the athletes cycling in their homes, and that they have power-ups in the race. It feels like if your performance in Mario Kart was controlled through grueling physical activity.
There are four stages left - 11th, 12th, 18th and 19th July. They are free to watch.
Until next time. Stay well.
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