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The European Business Review empowering communication globally

JANUARY FEBRUARY

6

COVER STORY: AI FOR HUMANKIND Artificial Intelligence: Just Who Is In Charge Around Here? An Exclusive Interview with Professor David De Cremer, Founder and Director, Centre on AI Technology for Humankind, NUS

19

A SPECIAL REPORT ON AI AND HUMANS BY AITH, NUS BUSINESS SCHOOL A Focus on the Relationship between AI and Humans

22

Watched Over by Machines: AI and Surveillance at Work Andreas Deppeler

28

Empowering Small and Medium Enterprises through the Synergy of AI and Blockchain Yan Pang

36

Human-Algorithm Collaboration in Managerial Decision Making Tessa Haesevoets, David De Cremer, Kim Dierckx, and Alain Van Hiel

40

The Service Revolution, Intelligent Automation and Service Robots Jochen Wirtz, Werner Kunz, and Stefanie Paluch

48

Synergy or Conflict? Lessons for managers on how to successfully adopt AI to augment employee creativity Jakob Stollberger and David De Cremer

54

Humanising Robots: Increases Consumer Satisfaction and Forgiveness of Their Failures Kai Chi Yam and David De Cremer

58

AI IN FINANCE Promise and Challenge: AI in the Trade Finance Industry Interview with Graham Bright, Head of Compliance and Operations, Euro Exim Bank

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EXECUTIVE EDUCATION No Firm is an Island: Succeeding with Alliances Wharton Executive Education

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STRATEGY Focus on Value: What Your Company Does Matters More Than Where It Sits Rachael Bartels and Kathleen O’Reilly

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LEADERSHIP The Wise Leader Michael Chaskalson, Philippa Hardman, and Chris Nichols

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ORGANISATIONAL CHANGE How Enterprises Can Create Meaningful Purpose Together with their Stakeholders Nicholas Ind and Venkat Ramaswamy

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DIGITAL TRANSFORMATION Why Is Digital Transformation So Hard? Leaders must manage multifaceted change, not technology adoption Fred Geyer and Joerg Niessing

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KNOWLEDGE Organisational Diffi culties In Producing Thought Leadership William Harvey, Vince-Wayne Mitchell, Alessandra Almeida Jones, and Eric Knight

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FUTURE OF BUSINESS Using the Triaxial Model of Values to Build Resilience in a COVID-19 VUCA World Anat Garti and Simon Dolan

102

BUSINESS ETHICS Raising the Ethical Bar: Ethical Audits and Positive Culture Transformation Simon Dolan, Steven Hawkins, Chad Albrecht, and Bonnie Richley

110

DIGITAL MARKETING Digital Marketing: AI Enables Expanded Roles for Marketers Seth Earley

Production & Design: Angela Lamcaster Print Strategy: Stefan Newhart Production Accounts: Lynn Moses Editors: Elenora Elroy, David Lean Group Managing Editor: Jane Liu Editor in Chief: The European Business Review Publishing Oscar Daniel READERS PLEASE NOTE: The views expressed in articles are the authors' and not necessarily those of The European Business Review. Authors may have consulting or other business relationships with the companies they discuss. The European Business Review: 3 - 7 Sunnyhill Road, London SW16 2UG, Tel +44 (0)20 3598 5088, Fax +44 (0)20 7000 1252, info@europeanbusinessreview.com, www.europeanbusinessreview.com No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without written permission. Copyright ©2021 EBR Media Ltd. All rights reserved. ISSN 1754-5501

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