‘Wisdom of Crowds’
By: Ben Baruch, SAE, Fusion PR
As crowdsourcing becomes more popular and the power of Web 2.0 continues to expand, entities such as government, corporations and enterprises monitor its potential. ‘Betting to Improve the Odds,’ an article by Steve Lohr in the New York Times, describes how companies from ‘InterContinental Hotels Group, General Electric and Hewlett-Packard are using prediction markets to try to improve forecasting, reduce risk and accelerate innovation by tapping into the collective wisdom of the work force.’
We will see how this changes the face of business. Whatever happened to the suggestion box?