Rochester Memories
I hadn’t been particularly interested in technology before and, as a result, didn’t know much about it. This creates a cycle: the less curious you are and the less you seek information, the less you understand it. And the less you understand it, the less likely you are to enjoy or appreciate it. However, with the course “Information Technology and Strategy” taught by Prof. Ravi Mantena, I was thrust into this world. Surprisingly, this was to me one of the most interesting courses in our EMBA so far.
We learned about disruptive technologies, and the city of Rochester serves as a key illustration of how they can reshape industries, with Kodak as a notable example. Kodak, once a giant in the photography industry, was a pioneer in bringing photography to the masses. The company revolutionized imaging technology by developing user-friendly cameras that allowed people of all skill levels to easily capture moments, bringing photography into everyday life. However, as digital photography emerged as a disruptive technology, Kodak struggled to adapt quickly enough, despite being one of the inventors of digital cameras. Their business model, heavily reliant on film, was slow to embrace the shift to digital, leading to missed opportunities. Kodak’s challenges in fully transitioning to the digital era serve as a classic example of how even the most innovative companies can be caught off guard by technological change.
We also learned about the economics of digital goods and network effects. Digital goods typically have high upfront costs but very low – or even zero – marginal costs. This is especially important when considering network effects. A product demonstrates network effects when its value to an individual user increases as more people use or adopt it. Consequently, companies may offer a “freemium” model, where one part is subsidized, as collective participation generates opportunities for revenue from users willing to pay for premium services or access. The business model of LinkedIn provides a good example for that, since it offers a free version that allows users to build profiles, connect with others, and join discussions. As more people join, the network becomes more valuable, particularly for recruiters and businesses, who are willing to pay for premium features like advanced search and InMail for recruiting and business development.
Last but not least, we learned about generative AI (such as ChatGPT) and how to use it efficiently, including how to craft effective prompts. I believe this is an aspect many in our class will start applying in their jobs immediately. I also see significant potential for AI in roles like mine, working in government affairs. One area where I expect AI to have a profound impact is in drafting policy briefs, position papers, and recommendations. AI holds the greatest potential to improve both the speed and quality of this work. Currently, preparing these documents is often very time-consuming. However, with the right input, AI can quickly analyze large volumes of data, legislation, and reports, identify key trends and arguments, and generate clear, structured drafts that align with regulatory language.
Looking back, the Rochester experience has marked a clear “before” and “after” in the way we approach technology. As we return to our roles, we are better equipped with the knowledge, curiosity, and tools to embrace the challenges and opportunities of an increasingly digital world.
