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FTA as Due Diligence for an Era of Accelerated Interdiction by an Algorithm-Big Data Duo

In: Anticipating Future Innovation Pathways Through Large Data Analysis

Author

Listed:
  • Denis Loveridge

    (MIoIR, MBS, University of Manchester)

  • Cristiano Cagnin

    (Center for Strategic Studies and Management (CGEE))

Abstract

In the face of the ‘digital revolution’ and its wide penetration of all aspects of life, FTA needs to consider new approaches and skills to enable it to cope with a ‘new’ world. An approach based on ‘due diligence,’ adapted from the business world, is suggested. The paper links the digital world to an algorithm-big data duo, where computation is preferred to human judgment, with its behavioural and intuitive ‘baggage’, in policy formulation. Turing’s 1936 paper enabled the evolution of digital computers capable of using complex algorithms to work with large and uncertain data sets. The current favouring of computation highlights the need for FTA to be based on an appreciation of dynamic situations that face all life on Earth replacing silo-based problem-solving. To cope with these situations, new skills are needed based on excellence in breadth and depth using due diligence concepts that can build a bridge between FTA and policy makers to ensure both the quality and the ability to embrace ignorance are coped with.

Suggested Citation

  • Denis Loveridge & Cristiano Cagnin, 2016. "FTA as Due Diligence for an Era of Accelerated Interdiction by an Algorithm-Big Data Duo," Innovation, Technology, and Knowledge Management, in: Tugrul U. Daim & Denise Chiavetta & Alan L. Porter & Ozcan Saritas (ed.), Anticipating Future Innovation Pathways Through Large Data Analysis, chapter 0, pages 3-23, Springer.
    • Handle: RePEc:spr:innchp:978-3-319-39056-7_1
    DOI: 10.1007/978-3-319-39056-7_1
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