Using Prediction Markets to Manage Risk
September 24, 2009: 6:15 PM - 8:00 PM
The wisdom of the crowd: are the many really smarter than the few? Adam Siegel, founder of Chicago-based Inkling, Inc., will discuss how prediction markets can help organizations tap into the collective wisdom of their employees, peers, and customers to reduce risk, improve forecasting processes, predict key corporate metrics, identify promising future innovations, and forge new communication and collaboration channels. Inkling's prediction market platform, Inkling Markets, is leveraged by numerous industry-leading corporations, start-ups, academic, non-profit, and government institutions including Johnson & Johnson, Chevron, and Procter & Gamble.
450 North Cityfront Plaza Drive
6:15 PM-8:00 PM: Presentation and Discussion
Adam Siegel (Speaker)
CEO, Inkling, Inc.
Adam Siegel is the co-founder and CEO of Inkling Incorporated and leads the development of the company’s user experience and business consulting efforts. Before co-founding Inkling, Adam worked at Accenture, where he served over a dozen clients across multiple industries for over a decade. At Accenture, Adam also directed a research initiative in next generation user experiences and ran a small internal venture fund to seed innovative ideas. Adam has spoken and served on expert panels at numerous conferences and in MBA classrooms and has been published or quoted in Fortune, Business Week, the New York Times, the Chicago Tribune, the Chicago Sun-Times, InfoWeek, NetworkWorld, and Risk Management magazine. In addition to his daily chores at Inkling, Adam spends his time being a political junky, reading short stories and listening to his favorite radio show "This American Life." Adam holds a Bachelor’s Degree in Political Science from Indiana University.
Everyone's been on at least one. The big project that goes way over budget. The project that is six months late. Issues that weren't raised early enough to do anything about them. Expectations that were unreasonable. Contingency planning that was poor or nonexistent. Adam Siegel, founder of Inkling Inc., will explain how prediction markets can collect anonymous and continuous input about project milestones and mitigate the risk factors caused by gaps in timely and accurate information. These gaps and other failures typically cost large organizations millions, usually in the form of cost and schedule overruns, not to mention the impact on shareholder value, morale, and competitive positioning. Using prediction markets can close information gaps and increase the likelihood of project success from your entire project team, subject matter experts, business partners, and consulting team.