Collective Intelligence Outsmarts Genius
``Most think that Thomas Edison invented the light bulb and Wright Brothers created the airplane. But it took the collaboration of numerous people behind the scenes to come up with such great inventions,'' Hong said.
``Collective intelligence has always outsmarted the sophistication of a handful of geniuses. Corporations need to take advantage of this to make money,'' she said.
As examples of harnessing collective intelligence in business, Hong named open standard research projects such as Connect & Development of P&G and Ideastorm of Dell Computer as well as Haptic.
``Companies need to leverage opinions from outside resources from planning any goods or services to designing and marketing them,'' Hong said.
``Collective intelligence will provide a competitive edge to entities in comparison to those which restrict their approach to only in-house resources,'' she said.
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