Source:
- IE University – Insights, Published on October 15th, 2024.
By Francesco Derchi
Purpose is a strategic tool for driving innovation, competitive advantage, and addressing AI challenges, writes Francesco Derchi.
Since the early 2000s, technology has dominated discussions among scholars and professionals about global development and economic trends, with the first wave of research regarding the internet’s impact on firms and society focusing on the enabling potential of technologies. The concept of “digital revolution,” as popularized by Nicholas Negroponte, became the new paradigm for broader considerations about the development of the firm’s macro environment, and how businesses could leverage it as an asset for creating competitive advantage. The following wave focused on the convergence of different technologies, such as manufacturing, and included the dynamics of coexistence between humans and machines. From the management side, the major challenges are related to defining effective digital transformation practices that could help to migrate organizations and exploit this new paradigm.
The current technological focus builds on these previous trends, particularly on artificial intelligence and more recently on the emergence of generative AI. The Age of AI is characterized by technology’s power to reshape business and society on a variety of levels. While AI’s pervasive impact is not new for firms, the mainstream adoption of ChatGPT for business purposes and the response to this ready adoption from big tech players like Microsoft, Google, and more recently Apple, shows how AI is reshaping and influencing companies’ strategic priorities.
From a research perspective, AI’s societal impact is inspiring new studies in the field of ethics. Luciano Floridi, now of Yale University, has identified several challenges for AI, characterizing them by global magnitudes like its environmental impact and has identified several challenges for AI security, including intellectual property, privacy, transparency, and accountability. In his work, Floridi underlines the importance of philosophy in defining problems and designing solutions – but it is equally important to consider how these challenges can be addressed at the firm level. What are the tools for managers?
Part of the answer may lie in the increasing and recent focus of management studies around “corporate purpose” and “brand purpose.” This trend represents an important attempt to deepen our understanding of “why to act” (purpose framing) and “how to act” (purpose formalizing and internalizing), while technology management studies address the “what to act” (purpose impacting) question. Furthermore, studies show that corporate purpose is critical for both digital native firms as well as traditional companies undergoing a digital transformation, serving as an important growth engine through purpose-driven innovation. It is therefore fair to ask: can purpose help in addressing any of the AI challenges previously mentioned?
Purpose concepts are not exclusively “cause-related” like CSR and environmental impact. Other types have emerged, such as “competence” (the function of the product) and “culture” (the intent that drives the business). This broadens the consideration of impact types that can help address specific challenges in the age of AI.
Purpose-driven organizations are not new. Take Tesla’s direction “to accelerate the world’s transition to sustainable energy” – it explicitly addresses environmental challenges while defining a business direction that requires constant innovation and leverages multiple converging technologies. The key is to have the purpose formalized and internalized within the company as a concrete drive for growth.
Due to its characteristics, the MTP plays a key role in digital transformation. This necessarily ambitious and long-term vision or goal – the Massive Transformative Purpose – requires firms, particularly those focused on exponential growth, to address emerging accelerating technologies with a purpose-first transformation logic. P&G’s Global Business Services division was able to improve market leadership and gain a competitive advantage over various start-ups and potential disruptors through its “Free up the employee, for free” MTP. This served as a north star for every employee, encouraging them to contribute ideas and best practices to overcome bulky processes and limitations.
My research on MTPs in AI-era firms explores their role in driving innovation to address specific challenges. Results show that the MTP impacts the organization across four dimensions, requiring commitment and synergy from management. Let’s consider these four dimensions by looking at Airbnb:
- Internal Impact: The MTP acts as the organization’s genetic code and guiding philosophy. It is key for leveraging employee motivation, with a strong relationship between purpose, organizational culture, and firm values. Airbnb’s culture of belonging highlights this, with its various purpose-shaping practices, starting with culture-fit interviews delivered during the recruitment process.
- Brand and Market Influence: The MTP contributes directly to building a strong brand and influencing the market. It allows firms to extend beyond functional and symbolic benefits to make the impact of the company on society visible. This involves addressing market demand coherently and consistently. Airbnb’s “Bélo” symbol visually represents this concept of belonging while their MTP features in campaigns like “Wall and Chain: A Story of Breaking Down Walls.”
- Competitive Advantage and Growth: The MTP drives innovation and can lead to superior stock market performance. In digital firms, it’s key in the creation of ecosystems that aggregate leveraged assets and third parties for value creation. The company’s “belong anywhere transformation journey” is a strategic initiative that formalized and interiorized the MTP through various touchpoints for all the different ecosystem members. As Leigh Gallagher details in her 2016 Fortune feature about the company, “When travellers leave their homes, they feel alone. They reach their Airbnb, and they feel accepted and taken care of by their host. They then feel safe to be the same kind of person they are when they’re at home.”
- Core Organization Identity: The MTP is considered part of the core dimension of the organization. More than a goal or business strategy, it is a strategic issue that generates a sense of direction and purpose that affects every part of the organization: internal, external, personality, and expression. This dimension also involves the role of the founder(s) and their personality in shaping the business. At Airbnb, the MTP is often used as a shortcut to explain the firm’s mission and vision. The founders’ approach is pragmatic, and instead of debating differences, time should be spent on execution. At the same time, the personalities of the three founders, Chesky, Gebbia, and Blecharcyzk, are the identity of the firm. They were the first hosts for the platform. Their credibility is key for making Airbnb a trustworthy and coherent proposal in a crowded market.
Executives and leaders of business in the current AI era should embrace three key principles. Be true: Purpose is an essential strategic tool that enables firms to identify and connect with their original selves, decoding their reason for being and embedding it into their identity. Be ambitious: The MTP allows for global impact, confronting major challenges by synthesizing business values and guiding innovation paths to address AI-related issues. Be generous: Purpose allows firms to explicitly address environmental and social issues, taking action on values-based challenges such as transparency, respect for intellectual property, and accountability. By following these principles, organizations and their leaders can maintain their direction and continue to advance in the AI era.
Read the full article below:
-
From the same author
Read the articleSource:
- Metro, published on October 09th, 2025
After ChatGPT came on the scene in 2022, the tech industry quickly began comparing the arrival of AI to the dawn of the internet in the 1990s.
Back then, dot-com whizzes were minting easy millions only for the bubble to burst in 2000 when interest rates were hiked. Investors sold off their holdings, companies went bust and people lost their jobs.
Now central bank officials are worried that the AI industry may see a similar boom and bust.
A record of the Financial Policy Committee’s October 2 meeting shows officials saying financial market evaluations of AI ‘appear stretched’.
‘This, when combined with increasing concentration within market indices, leaves equity markets particularly exposed should expectations around the impact of AI become less optimistic,’ they added.
AI-focused stocks are mainly in US markets but as so many investors across the world have bought into it, a fallout would be felt globally.
ChatGPT creator OpenAI, chip-maker Nvidia and cloud service firm Oracle are among the AI poster companies being priced big this year.
Earnings are ‘comparable to the peak of the dot-com bubble’, committee members said.
Factors like limited resources – think power-hungry data centres, utilities and software that companies are spending billions on – and the unpredictability of the world’s politics could lead to a drop in stock prices, called a ‘correction’.
In other words, the committee said, investors may be ignoring how risky AI technology is.
Metro spoke with nearly a dozen financial analysts, AI experts and stock researchers about whether AI will suffer a similar fate. There were mixed feelings.
‘Every bubble starts with a story people want to believe,’ says Dat Ngo, of the trading guide, Vetted Prop Firms.
‘In the late 90s, it was the internet. Today, it’s artificial intelligence. The parallels are hard to ignore: skyrocketing stock prices, endless hype and companies investing billions before fully proving their business models.
‘The Bank of England’s warning isn’t alarmist – it’s realistic. When too much capital chases the same dream, expectations outpace results and corrections follow.’
Dr Alessia Paccagnini, an associate Professor from the University College Dublin’s Michael Smurfit Graduate Business School, says that companies are spending £300billion annually on AI infrastructure, while shoppers are spending $12billion. That’s a big difference.
Tech firms listed in the US now represent 30% of New York’s stock index, S&P 500 Index, the highest proportion in 50 years.
‘As a worst-case scenario, if the bubble does burst, the immediate consequences would be severe – a sharp market correction could wipe trillions from stock valuations, hitting retirement accounts and pension funds hard,’ Dr Paccagnini adds.
‘In my opinion, we should be worried, but being prepared could help us avoid the worst outcomes.’
One reason a correction would be so bad is because of how tangled-up the AI world is, says George Sweeney, an investing expert at the personal finance website site Finder.
‘If it fails to meet the lofty expectations, we could see an almighty unravelling of the AI hype that spooks markets, leading to a serious correction,’ he says.
Despite scepticism, AI feels like it’s everywhere these days, from dog bowls and fridges to toothbrushes and bird feeders.
And it might continue that way for a while, even if not as enthusiastically as before, says Professor Filip Bialy, who specialises in computer science and AI ethics at the at Open Institute of Technology.
‘TAI hype – an overly optimistic view of the technological and economic potential of the current paradigm of AI – contributes to the growth of the bubble,’ he says.
‘However, the hype may end not with the burst of the bubble but rather with a more mature understanding of the technology.’
Some stock researchers worry that the AI boom could lose steam when the companies spending billions on the tech see profits dip.
The AI analytic company Qlik found that only one in 10 business say their AI initiatives are seeing sizeable returns.
Qlik’s chief strategy officer, James Fisher, says this doesn’t show that the hype for AI is bursting, ‘but how businesses look at AI is changing’.
Read the articleOPIT – Open Institute of Technology offers an innovative and exciting way to learn about technology. It offers a range of bachelor’s and master’s programs, plus a Foundation Year program for those taking the first steps towards higher education. Through its blend of instruction-based and independent learning, it empowers ambitious minds with the skills and knowledge needed to succeed.
This guide covers all you need to know to join OPIT and start your educational journey.
Introducing the Open Institute of Technology
Before we dig into the nitty-gritty of the OPIT application process, here’s a brief introduction to OPIT.
OPIT is a fully accredited Higher Education Institution under the European Qualification Framework (EQF) and the MFHEA Authority. It offers exclusively online education in English to an international community of students. With a winning team of top professors and a specific focus on computer science, it trains the technology leaders of tomorrow.
Some of the unique elements that characterize OPIT’s approach include:
- No final exams. Instead, students undergo progressive assessments over time
- A job-oriented, practical focus on the courses
- 24/7 support, including AI assistance and student communities, so everyone feels supported
- A strong network of company connections, unlocking doors for graduates
Reasons to Join OPIT
There are many reasons for ambitious students and aspiring tech professionals to study with OPIT.
Firstly, since all the study takes place online, it’s a very flexible and pleasant way to learn. Students don’t feel the usual pressures or suffer the same constraints they would at a physical college or university. They can attend from anywhere, including their own homes, and study at a pace that suits them.
OPIT is also a specialist in the technology field. It only offers courses focused on tech and computer science, with a team of professors and tutors who lead the way in these topics. This ensures that students get high-caliber learning opportunities in this specific sector.
Learning at OPIT is also hands-on and applicable to real-world situations, despite taking place online. Students are not just taught core skills and knowledge, but are also shown how to apply those skills and knowledge in their future careers.
In addition, OPIT strives to make technology education as accessible, inclusive, and affordable as possible. Entry requirements are relatively relaxed, fees are fair, and students from around the world are welcome here.
What You Need to Know About Joining OPIT
Now you know why it’s worth joining OPIT, let’s take a closer look at how to go about it. The following sections will cover how to apply to OPIT, entry requirements, and fees.
The OPIT Application Process
Unsurprisingly for an online-only institution, the application process for OPIT is all online, too. Users can submit the relevant documents and information on their computers from the comfort of their homes.
- Visit the official OPIT site and click the “Apply now” button to get started, filling out the relevant forms.
- Upload your supporting documents. These can include your CV, as well as certificates to prove your past educational accomplishments and level of English.
- Take part in an interview. This should last no more than 30 minutes. It’s a chance for you to talk about your ambitions and background, and to ask questions you might have about OPIT.
That’s it. Once you complete the above steps, you will be admitted to your chosen course and can start enjoying OPIT education once the first term begins. You’ll need to sign your admissions contract and pay the relevant fees, then begin classes.
Entry Requirements for OPIT Courses
OPIT offers a small curated collection of courses, each with its own requirements. You can consult the relevant pages on the official OPIT site to find out the exact details.
For the Foundation Program, for example, you simply need an MQF/EQF Level 3 or equivalent qualification. You also need to demonstrate a minimum B2 level of English comprehension.
For the BSc in Digital Business, applicants should have a higher secondary school leaving certificate, plus B2-level English comprehension. You can also support your application with a credit transfer from previous studies or relevant work experience.
Overall, the requirements are simple, and it’s most important for applicants to be ambitious and eager to build successful careers in the world of technology. Those who are driven and committed will get the best from OPIT’s instruction.
Fees and Flexible Payments at OPIT
As mentioned above, OPIT makes technological education accessible and affordable for all. Its tuition fees cover all relevant teaching materials, and there are no hidden costs or extras. The institute also offers flexible payment options for those with different budgets.
Again, exact fees vary depending on which course you want to take, so it’s important to consult the specific info for each one. You can pay in advance to enjoy 10% off the final cost, or refer a friend to also obtain a discount.
In addition to this, OPIT offers need-based and merit-based scholarships. Successful candidates can obtain discounts of up to 40% on bachelor’s and master’s tuition fees. This can substantially bring the term cost of each program down, making OPIT education even more accessible.
Credit Transfers and Experience
Those who are entering OPIT with pre-existing work experience or relevant academic achievements can benefit from the credit transfer program. This allows you to potentially skip certain modules or even entire semesters if you already have relevant experience in those fields.
OPIT is flexible and fair in terms of recognizing prior learning. So, as long as you can prove your credentials and experience, this could be a beneficial option for you. The easiest way to find out more and get started is to email the OPIT team directly.
Join OPIT Today
Overall, the process to join OPIT is designed to be as easy and stress-free as possible. Everything from the initial application forms to the interview and admission process is straightforward. Requirements and fees are flexible, so people in different situations and from different backgrounds can get the education they want. Reach out to OPIT today to take your first steps to tech success.
-
Go to all authors
Related posts
Source:
- Metro, published on October 09th, 2025
After ChatGPT came on the scene in 2022, the tech industry quickly began comparing the arrival of AI to the dawn of the internet in the 1990s.
Back then, dot-com whizzes were minting easy millions only for the bubble to burst in 2000 when interest rates were hiked. Investors sold off their holdings, companies went bust and people lost their jobs.
Now central bank officials are worried that the AI industry may see a similar boom and bust.
A record of the Financial Policy Committee’s October 2 meeting shows officials saying financial market evaluations of AI ‘appear stretched’.
‘This, when combined with increasing concentration within market indices, leaves equity markets particularly exposed should expectations around the impact of AI become less optimistic,’ they added.
AI-focused stocks are mainly in US markets but as so many investors across the world have bought into it, a fallout would be felt globally.
ChatGPT creator OpenAI, chip-maker Nvidia and cloud service firm Oracle are among the AI poster companies being priced big this year.
Earnings are ‘comparable to the peak of the dot-com bubble’, committee members said.
Factors like limited resources – think power-hungry data centres, utilities and software that companies are spending billions on – and the unpredictability of the world’s politics could lead to a drop in stock prices, called a ‘correction’.
In other words, the committee said, investors may be ignoring how risky AI technology is.
Metro spoke with nearly a dozen financial analysts, AI experts and stock researchers about whether AI will suffer a similar fate. There were mixed feelings.
‘Every bubble starts with a story people want to believe,’ says Dat Ngo, of the trading guide, Vetted Prop Firms.
‘In the late 90s, it was the internet. Today, it’s artificial intelligence. The parallels are hard to ignore: skyrocketing stock prices, endless hype and companies investing billions before fully proving their business models.
‘The Bank of England’s warning isn’t alarmist – it’s realistic. When too much capital chases the same dream, expectations outpace results and corrections follow.’
Dr Alessia Paccagnini, an associate Professor from the University College Dublin’s Michael Smurfit Graduate Business School, says that companies are spending £300billion annually on AI infrastructure, while shoppers are spending $12billion. That’s a big difference.
Tech firms listed in the US now represent 30% of New York’s stock index, S&P 500 Index, the highest proportion in 50 years.
‘As a worst-case scenario, if the bubble does burst, the immediate consequences would be severe – a sharp market correction could wipe trillions from stock valuations, hitting retirement accounts and pension funds hard,’ Dr Paccagnini adds.
‘In my opinion, we should be worried, but being prepared could help us avoid the worst outcomes.’
One reason a correction would be so bad is because of how tangled-up the AI world is, says George Sweeney, an investing expert at the personal finance website site Finder.
‘If it fails to meet the lofty expectations, we could see an almighty unravelling of the AI hype that spooks markets, leading to a serious correction,’ he says.
Despite scepticism, AI feels like it’s everywhere these days, from dog bowls and fridges to toothbrushes and bird feeders.
And it might continue that way for a while, even if not as enthusiastically as before, says Professor Filip Bialy, who specialises in computer science and AI ethics at the at Open Institute of Technology.
‘TAI hype – an overly optimistic view of the technological and economic potential of the current paradigm of AI – contributes to the growth of the bubble,’ he says.
‘However, the hype may end not with the burst of the bubble but rather with a more mature understanding of the technology.’
Some stock researchers worry that the AI boom could lose steam when the companies spending billions on the tech see profits dip.
The AI analytic company Qlik found that only one in 10 business say their AI initiatives are seeing sizeable returns.
Qlik’s chief strategy officer, James Fisher, says this doesn’t show that the hype for AI is bursting, ‘but how businesses look at AI is changing’.
OPIT – Open Institute of Technology offers an innovative and exciting way to learn about technology. It offers a range of bachelor’s and master’s programs, plus a Foundation Year program for those taking the first steps towards higher education. Through its blend of instruction-based and independent learning, it empowers ambitious minds with the skills and knowledge needed to succeed.
This guide covers all you need to know to join OPIT and start your educational journey.
Introducing the Open Institute of Technology
Before we dig into the nitty-gritty of the OPIT application process, here’s a brief introduction to OPIT.
OPIT is a fully accredited Higher Education Institution under the European Qualification Framework (EQF) and the MFHEA Authority. It offers exclusively online education in English to an international community of students. With a winning team of top professors and a specific focus on computer science, it trains the technology leaders of tomorrow.
Some of the unique elements that characterize OPIT’s approach include:
- No final exams. Instead, students undergo progressive assessments over time
- A job-oriented, practical focus on the courses
- 24/7 support, including AI assistance and student communities, so everyone feels supported
- A strong network of company connections, unlocking doors for graduates
Reasons to Join OPIT
There are many reasons for ambitious students and aspiring tech professionals to study with OPIT.
Firstly, since all the study takes place online, it’s a very flexible and pleasant way to learn. Students don’t feel the usual pressures or suffer the same constraints they would at a physical college or university. They can attend from anywhere, including their own homes, and study at a pace that suits them.
OPIT is also a specialist in the technology field. It only offers courses focused on tech and computer science, with a team of professors and tutors who lead the way in these topics. This ensures that students get high-caliber learning opportunities in this specific sector.
Learning at OPIT is also hands-on and applicable to real-world situations, despite taking place online. Students are not just taught core skills and knowledge, but are also shown how to apply those skills and knowledge in their future careers.
In addition, OPIT strives to make technology education as accessible, inclusive, and affordable as possible. Entry requirements are relatively relaxed, fees are fair, and students from around the world are welcome here.
What You Need to Know About Joining OPIT
Now you know why it’s worth joining OPIT, let’s take a closer look at how to go about it. The following sections will cover how to apply to OPIT, entry requirements, and fees.
The OPIT Application Process
Unsurprisingly for an online-only institution, the application process for OPIT is all online, too. Users can submit the relevant documents and information on their computers from the comfort of their homes.
- Visit the official OPIT site and click the “Apply now” button to get started, filling out the relevant forms.
- Upload your supporting documents. These can include your CV, as well as certificates to prove your past educational accomplishments and level of English.
- Take part in an interview. This should last no more than 30 minutes. It’s a chance for you to talk about your ambitions and background, and to ask questions you might have about OPIT.
That’s it. Once you complete the above steps, you will be admitted to your chosen course and can start enjoying OPIT education once the first term begins. You’ll need to sign your admissions contract and pay the relevant fees, then begin classes.
Entry Requirements for OPIT Courses
OPIT offers a small curated collection of courses, each with its own requirements. You can consult the relevant pages on the official OPIT site to find out the exact details.
For the Foundation Program, for example, you simply need an MQF/EQF Level 3 or equivalent qualification. You also need to demonstrate a minimum B2 level of English comprehension.
For the BSc in Digital Business, applicants should have a higher secondary school leaving certificate, plus B2-level English comprehension. You can also support your application with a credit transfer from previous studies or relevant work experience.
Overall, the requirements are simple, and it’s most important for applicants to be ambitious and eager to build successful careers in the world of technology. Those who are driven and committed will get the best from OPIT’s instruction.
Fees and Flexible Payments at OPIT
As mentioned above, OPIT makes technological education accessible and affordable for all. Its tuition fees cover all relevant teaching materials, and there are no hidden costs or extras. The institute also offers flexible payment options for those with different budgets.
Again, exact fees vary depending on which course you want to take, so it’s important to consult the specific info for each one. You can pay in advance to enjoy 10% off the final cost, or refer a friend to also obtain a discount.
In addition to this, OPIT offers need-based and merit-based scholarships. Successful candidates can obtain discounts of up to 40% on bachelor’s and master’s tuition fees. This can substantially bring the term cost of each program down, making OPIT education even more accessible.
Credit Transfers and Experience
Those who are entering OPIT with pre-existing work experience or relevant academic achievements can benefit from the credit transfer program. This allows you to potentially skip certain modules or even entire semesters if you already have relevant experience in those fields.
OPIT is flexible and fair in terms of recognizing prior learning. So, as long as you can prove your credentials and experience, this could be a beneficial option for you. The easiest way to find out more and get started is to email the OPIT team directly.
Join OPIT Today
Overall, the process to join OPIT is designed to be as easy and stress-free as possible. Everything from the initial application forms to the interview and admission process is straightforward. Requirements and fees are flexible, so people in different situations and from different backgrounds can get the education they want. Reach out to OPIT today to take your first steps to tech success.
Have questions?
Visit our FAQ page or get in touch with us!
Write us at +39 335 576 0263
Get in touch at hello@opit.com
Talk to one of our Study Advisors
We are international
We can speak in:
