The Rise of the On-Demand Workforce
— October 27, 2014
By Anindya Ghose
However, crowdsourcing is not entirely a new concept. In the year 2000, the CEO of Goldcorp, Stan McEwen, shocked the gold industry with the Goldcorp Challenge. McEwen wanted new ideas of where to dig for gold, and he figured that if his employees couldn’t find the gold then someone else would be able to. By all means this was a blockbuster success. In all more than 110 sites were identified of which 50% were previously unknown to the company. Furthermore, more than 80% yielded significant gold reserves. What the Internet does is enable crowdsourcing on a scale and at a level of granularity that was previously unimaginable.
Today, small startups and massive enterprises alike have embraced crowdsourcing and co-creation to conducting smart business. New online platforms, such as oDesk and Elance, help businesses connect with individuals seeking software development opportunities and thus will pave the way for the virtual offices of tomorrow.
Read the full article as published the The Wall Street Journal.
Anindya Ghose is the Daniel P. Paduano Fellow, Robert L. & Dale Atkins Rosen Faculty Fellow, Associate Professor of Information, Operations and Management Sciences and Co-Director of the Center for Business Analytics.