By Martin Zwilling

The majority of business professionals I meet these days accept that we are now deep in the digital age, where mountains of data are gathered on everything we do, online and offline. Yet most executives are struggling with how to harness this data with artificial intelligence and machine learning, and use it to hone their intuition and improve their business leadership.

In fact, I believe that to be a successful leader in this new era requires a different way of thinking and a different set of skills, to complement the gut instinct reliance of past leaders. Leaders today need to understand and utilize the algorithmic compute power of artificial intelligence that supports the hyper-personalization in everything from shopping to news delivery to dating today.

Some people call this the emergence and development of a new type of leader, called the algorithmic leader, who can steer the course through the world of big data, machine learning, and the constantly changing demands of new customers and social trends. I found some real insights on this direction in a new book, “The Algorithmic Leader,” by Mike Walsh.

Walsh is a global consultant and thought leader on designing companies for the 21st century, and he has listened and consulted with many leaders on how to thrive in this era of disruptive technological change. He offers a set of operating principles that I will subset here for aspiring future leaders who need to move from the past analog-era thinking to the new digital age:

Work backward from the future. Only your human element can imagine what life might be like in ten years. Focus on experiences, not devices, as Steve Jobs did back in 2007 when he introduced the iPhone as a new experience, not a phone, then used technology to make it happen. He anticipated his future customers and what they might want.

Aim for 10x gains, not 10 percent. Your job is thinking big enough about your future opportunities, and letting the data and machine learning do the incremental work. The challenge of being an algorithmic leader is to be brave enough to pursue opportunities that deliver results in multiples, not just margins, and continuous change to stay ahead.

Leverage data and compute power for rapid growth. This requires computational thinking to formulate challenges and solutions in a form that can be effectively carried out by information processing systems, rather than leader intuition. If artificial intelligence can expedite gaming wins, think what it might do in healthcare and other complex arenas.

Embrace uncertainty as the opportunity. In the analog era, uncertainty increased the risk and the cost of all change, and taking more time reduced the risk. Now you have the challenge of keeping ahead of competitors and trends, with more data, a probabilistic mindset, and rapid machine learning to give you the edge, if you use all of these wisely.

Foster a culture of algorithmic teams. Rather than controlling people through process, reinforce the principles of the new era, and provide the autonomous environment that people need to leverage data and machine learning. Look for ways to collect data on how to work, and design ways for all to continually check for results and new approaches.

Automate work and elevate people jobs. Make automation not only an opportunity to elevate your teams, but also an invitation to profoundly reimagine what people do. What things can you and they do that simply couldn’t be done without the new smarter algorithms? Find the new jobs inside the old ones, and invest in the skills required.

Humanize, don’t standardize, the customer experience. The most successful organizations in the algorithmic age will embrace the complexity of human behavior and translate it into individualized, immersive experiences. Include human judgment to avoid errors, bias, or inhuman choices. Human relationships are still top priority for customers.

Connect teams to a purpose, not just profit. People at work need a sense of identity and purpose, as well as material things. Don’t let algorithms manage more and more of your interactions with your teams. You as a leader must still be the role model for changing the way you work, and finding a personal connection to a purpose for work.

Overall, every aspiring leader in this new world must remember that artificial intelligence and algorithms are just tools. There are no robot overlords coming for your job, unless you choose to create some. For now at least, humans remain in the driver seat, and your customers are all humans, so keep that as top-of-mind as you lead new approaches in your business.

The writer is a veteran startup mentor, executive, blogger, author, tech professional, professor, and investor. Published on Forbes, Entrepreneur, Inc, Huffington Post.

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By Vitor Gaspar, Paolo Mauro and Paulo Medas

No country is immune to corruption. The abuse of public office for private gain erodes people’s trust in government and institutions, makes public policies less effective and fair, and siphons taxpayers’ money away from schools, roads, and hospitals.

While the wasted money is important, the cost is about much more. Corruption corrodes the government’s ability to help grow the economy in a way that benefits all citizens.

But the political will to build strong and transparent institutions can turn the tide against corruption. In our new Fiscal Monitor, we shine a light on fiscal institutions and policies, like tax administration or procurement practices, and show how they can fight corruption.

Political will can turn the tide against corruption.

Corruption helps evade taxes

We analyze more than 180 countries and find that more corrupt countries collect fewer taxes, as people pay bribes to avoid them, including through tax loopholes designed in exchange for kickbacks. Also, when taxpayers believe their governments are corrupt, they are more likely to evade paying taxes.

We show that overall, the least corrupt governments collect 4 percent of GDP more in tax revenues than countries at the same level of economic development with the highest levels of corruption.

A few countries’ reforms generated even higher revenues. Georgia, for example, reduced corruption significantly and tax revenues more than doubled, rising by 13 percentage points of GDP between 2003 and 2008. Rwanda’s reforms to fight corruption since the mid-1990s bore fruit, and tax revenues increased by 6 percentage points of GDP.

Corruption also prevents people from benefiting fully from the wealth created by their country’s natural resources. Because the exploration of oil or mining generates huge profits, it creates strong incentives for corruption. Our research shows that resource-rich countries, on average, have weaker institutions and higher corruption.

Corruption wastes taxpayers’ money

The Fiscal Monitor shows that countries with lower levels of perceived corruption have significantly less waste in public investment projects. We estimate that the most corrupt emerging market economies waste twice as much money as the least corrupt ones.

Governments waste taxpayers’ money when they spend it on cost overruns due to kickbacks or bid rigging in public procurement. So, when a country is less corrupt, it invests money more efficiently and fairly.

Corruption also distorts government priorities. For example, among low-income countries, the share of the budget dedicated to education and health is one-third lower in more corrupt countries. It also impacts the effectiveness of social spending. In more corrupt countries school-age students have lower test scores.

Corruption is also a problem in state-owned enterprises, such as some countries’ oil companies, and public utilities like electric and water companies. Our analysis suggests that these enterprises are less efficient in countries with high levels of corruption.

Where there is political will, there is a way

Fighting corruption requires political will to create strong fiscal institutions that promote integrity and accountability throughout the public sector.

Based on the research, here are some lessons for countries to help them build effective institutions that curb vulnerabilities to corruption:

Invest in high levels of transparency and independent external scrutiny. This allows audit agencies and the public at large to provide effective oversight. For example, Colombia, Costa Rica, and Paraguay are using an online platform that allows citizens to monitor the physical and financial progress of investment projects. Norway has developed a high standard of transparency to manage its natural resources. Our analysis also shows that a free press enhances the benefits of fiscal transparency. In Brazil, the results of audits impacted the reelection prospects of officials suspected of misuse of public money, but the impact was greater in areas with local radio stations.

Reform institutions. The chances for success are greater when countries design reforms to tackle corruption from all angles. For example, reforms to tax administration will have a greater payoff if tax laws are simpler and they reduce officials’ scope for discretion. To help countries, the IMF has built comprehensive diagnostics on the quality of fiscal institutions, including public investment management, revenue administration, and fiscal transparency.

Build a professional civil service. Transparent, merit-based hiring and pay reduce the opportunities for corruption. The heads of agencies, ministries, and public enterprises must promote ethical behavior by setting a clear tone at the top.

Keep pace with new challenges as technology and opportunities for wrongdoing evolve. Focus on areas of higher risk—such as procurement, revenue administration, and management of natural resources—as well as effective internal controls. In Chile and Korea, for example, electronic procurement systems have been powerful tools to curtail corruption by promoting transparency and improving competition.

More cooperation to fight corruption. Countries can also join efforts to make it harder for corruption to cross borders. For example, more than 40 countries have already made it a crime for their companies to pay bribes to gain business abroad under the OECD anti-corruption convention. Countries can also aggressively pursue anti–money laundering activities and reduce transnational opportunities to hide corrupt money in opaque financial centers.

Curbing corruption is a challenge that requires persevering on many fronts, but one that pays huge dividends. It starts with political will, continuously strengthening institutions to promote integrity and accountability, and global cooperation.

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