Podcast Summary
Ginni: Discovering the Power of Effective Leadership at IBM: In her new book, Good Power, IBM co-president and chairman Ginni Rometty shares her life story and the biggest lessons she learned while leading one of the world's most powerful companies. She believes that the key challenge is not running the company but changing it while preserving its core mission-critical work. Through her experience, Jeanie modernized IBM's processes and kept it as a crucial player in the tech industry.
Ginni Rometty, longtime co-president and chairman of IBM, is considered to be one of the most powerful women in the world.In her new book, Good Power, coming out in March 2021, she talks about power leadership and her life story.She believes that the biggest challenge in running a large company like IBM is not in running it, but in changing it while preserving the core mission-critical work that is essential to the world.At its core, IBM is a business-to-business company that does things that are important to the world, including running and being better, and ensuring infrastructure is secure.However, when she took over as CEO in 2012, she felt hindered by the bureaucracy and processes that often come with size, and that speed was of the essence.Despite the challenges, she managed to modernize IBM’s processes and ensure that it remained a crucial player in the tech industry.
Lessons from Former IBM CEO Ginni Rometty on Change and Adaptation in Business: Former IBM CEO Ginni Rometty emphasizes the importance of the "how" of work over the "what" and the need for sustainable change and adaptation in business. This requires making unpopular decisions for the long-term success of a company, reducing management layers, and training employees on agile techniques to improve decision-making and work processes. Change is necessary for growth and success.
Ginni Rometty speaks about the challenges and lessons she faced during her tenure.She notes that the "how" of work is more important than the "what," as simply doing the same thing faster is not sustainable.Rometty implemented changes such as reducing management layers and training hundreds of thousands of employees on agile techniques to improve decision making and work processes.She acknowledges that unpopular decisions are necessary at times, especially for the long-term success and endurance of a company.In taking over as CEO, Rometty recognized that significant changes were necessary for IBM, including the development of a new technology platform and addressing a skills gap for the future.Despite the challenges, Rometty advocates for the power of change and adaptation in business, stating that it is necessary for growth and success.
Title Case Former IBM CEO Ginni Rometty on Hiring and Developing Skills: Building skills is more effective than buying them, and hiring individuals based on their curiosity and willingness to learn is more important than their degree or education background. Essential traits for continuous growth in a career include humility, passion, and a beginner's mindset.
Ginni Rometty shared her insights on hiring and developing skills.She emphasizes the importance of going back to the core of a company and building skills from there, especially in today's era of computing where new buyers and skills are emerging.Rometty also notes that hiring experts may not always be the best option as they may not have a strong willingness to learn and adapt in a dynamic industry.Instead, she advocates for hiring individuals based on their curiosity and willingness to learn, regardless of their degree or education background.Rometty suggests that building skills is a better approach instead of just buying them, which is essential for disenfranchised individuals to be brought back into the workforce.Overall, Rometty emphasizes humility, passion, and a beginner's mind as essential traits for individuals to continually learn and grow in their careers.
Former CEO of IBM shares insights on the value of continuous learning, taking risks, and adapting to the unknown future of AI and software business.: Leaders must demonstrate values and prioritize skills over credentials when hiring and promoting employees. The willingness to learn from different perspectives, take risks, and adapt to changing circumstances is essential for success in today's fast-evolving industries. Confidence and control should be balanced to foster growth and encourage innovation.
Ginni Rometty, former CEO of IBM, stressed the importance of constant learning and a skills-first approach to hiring and promoting employees in a conversation with AI researcher Lex Fridman.She cited an example where IBM and Red Hat teams, with different perspectives on security and auditability, were able to learn from each other and succeed.Being willing to learn from each other is what wins in the end.With the future of AI and the software business being unknown, Rometty emphasized the need for companies to constantly learn, take risks, and adapt.She learned over time that giving other people control builds their confidence and that constantly trying to control people destroys it.Rometty also stressed the importance of showing values and the willingness to learn as an important habit for leaders.
The Importance of Preparation: Insights from IBM's Ginni Rometty: Ginni Rometty's success can be attributed to her tendency to prepare, which was reinforced during her childhood and engineering school years. However, she cautions that preparation may not be the ideal approach for everyone and emphasizes the importance of doing good while wielding power. Hard work and overcoming adversity can lead to success.
Ginni Rometty revealed that her tendency to prepare before any event or meeting comes from her childhood experience of wanting to understand rather than memorize.This trait was reinforced during her early engineering school years where she was the only woman and felt the need to study hard to gain confidence.Even in her 43-year-long marriage, she still prepares thoroughly, which she believes gives her the freedom to be present in the moment during interactions with others.Despite being a meticulous worker, Rometty cautions that not everyone should use her approach to gaining success, and emphasizes that the positive relationship between power and doing good should be acknowledged.Rometty's personal history of overcoming adversity and using hard work to achieve success is a testament to the fact that it can be a successful strategy.
Ginni Rometty's Key Takeaways on Achieving Success and Fulfillment: Hard and meaningful work can be done in a positive way. Dividing one's life journey into moments of self-care, working with and for others, and working for society can lead to a fulfilling career. Rometty's hard work ethic was instilled in her by her family, and she believes financial stress and adversity can lead to growth and success.
Ginni Rometty, former CEO of IBM, shares her key takeaways from her journey to the top.One of the biggest things she learned was that hard and meaningful work could be done in a positive way.Rometty believes that one's life journey can be divided into moments of self-care, working with and for others, and working for society.Rometty's hard work ethic was instilled in her by her great-grandmother who saved every dime she earned as a cleaning person, enabling Rometty's mother to have a home and car.Her grandmother taught her how to sew and run a business, and her mother taught her the value of education.Rometty believes that her ability to take care of herself is her backup plan, and that financial stress and adversity are catalysts for growth and success.
Ginni Rometty, the former CEO of IBM, shares her secret to success: pushing beyond her limits and embracing discomfort as a necessary ingredient for growth.: To succeed, it's crucial to step out of your comfort zone and take risks. Don't let self-doubt hold you back from pursuing opportunities. Find a balance between confidence and self-criticism, be willing to ask questions and learn, and remember that growth and comfort don't coexist.
Growth and comfort don't coexist. This lesson was imparted to Ginni Rometty by her husband and it has been life-changing.She has run a big business in the field of technology, but she wouldn't have been able to take charge of it if she hadn't been willing to take risks and push herself beyond her limits.Her experience with being offered a big job that she thought she wasn't ready for made her realize that discomfort is necessary for growth.She internalized the lesson that many women are their own worst critics, and it serves as a motivator for her to push past her self-doubts.She believes that it's important to find a balance between confidence and being self-critical, as well as being willing to ask questions and learn.She met her husband when she was just 19, while she had a GM scholarship and was studying at Northwestern University.
Lessons on Diversity, Good Power and Leadership from Former IBM CEO: In her new book, Good Power, Ginni Rometty emphasizes the importance of being in service of something and building belief in a new future. She shares lessons on diversity and paying for the education of diverse candidates in leadership programs. Good power, as defined by Rometty, is doing something hard or meaningful in a positive way and making progress without seeking perfection.
In her new book, Good Power: Leading Positive Change in Our Lives and the World, former IBM CEO Ginni Rometty shares her experiences and lessons learned from her career.Rometty highlights the importance of diversity and paying for the education of diverse candidates in leadership programs.She tells a personal story of how receiving a scholarship empowered her and saved her from earning hundreds of thousands of dollars in debt.Good power, as defined by Rometty, is doing something hard or meaningful in a positive way and making progress without seeking perfection.Rometty also emphasizes the importance of being in service of something and building belief in a new future.Through her memoir, Rometty hopes to celebrate progress that can be made when tension is embraced, steps are taken respectfully, and progress is celebrated.
Ginni Rometty's Insights on the Principles of Good Technology and Societal Responsibility.: Technology must be developed responsibly, taking into account both its benefits and risks for society. Empathy and collaboration are key factors in achieving this goal, as is the development of new skills to adapt to technological advancement. The ultimate goal should always be to use technology to benefit society, and this requires deliberate action and an awareness of how our actions affect others.
In this conversation, Ginni Rometty speaks to Lex Fridman about the principles of good technology and the importance of empathy and collaboration.She emphasizes the need for responsible technology, one that takes into account both its upside and downside, as seen in the development of quantum computing algorithms.Rometty believes that society grants businesses the license to operate, and it is their responsibility to bring technology into the world safely.She also highlights the need for developing new skills in the face of job displacement caused by technological advances.The conversation then shifts to the concept of ultimate good power, which is defined as doing something for society and emphasizes the results of the actions taken, as well as the how.Finally, Rometty and Fridman discuss the leap from focusing on oneself to focusing on others, citing the importance of deliberate action towards empathy and collaboration, rather than gradual changes.Ultimately, Rometty's experiences in technology have taught her the importance of being mindful of how one's actions affect others and the responsibility to use technology to benefit society.
The Importance of Diversity and Accountability in Leadership: Insights from Ginni Rometty: Surround yourself with individuals who challenge your perspectives and hold you accountable to prevent being blinded by power. Respect and appreciate the unique experiences and backgrounds of others. Consider stakeholders, not just shareholders, when prioritizing business decisions.
Ginni Rometty emphasizes the importance of diversity and inclusion in both personal and professional settings.She stresses the benefits of surrounding oneself with individuals who challenge and offer diverse perspectives to improve overall outcomes, as well as the value of respecting and appreciating the unique experiences and backgrounds of others.Furthermore, she acknowledges the temptation of power and the potential for it to corrupt one's thinking, but advocates for the importance of being surrounded by individuals who hold individuals accountable and prevent them from becoming blinded by their own success.Finally, she notes the potential conflicts between the pressure to prioritize financial gains over ethical considerations, but stresses the importance of stakeholders as a whole, prioritizing those affected by business decisions beyond just shareholders.Ginni's experiences and perspectives offer an insightful take on the importance of diversity, accountability, and ethical considerations in leadership roles.
Balancing Short-Term and Long-Term Goals: Insights from a Former IBM CEO: Decision-making is complex in a constantly evolving gray world. It is important to balance short-term and long-term goals, make trade-offs to satisfy stakeholders, honor promises to clients, act with values and recognize responsibilities. Building a strong reputation takes time but it's worth it. Even during a challenging period, maintaining composure is essential.
IBM CEO Ginni Rometty discusses the importance of balancing short-term and long-term goals and making trade-offs to satisfy various stakeholders.She highlights the complexity of decision-making in a constantly evolving gray world, where nothing is simply black and white.Rometty uses the example of IBM's semiconductor industry to illustrate how difficult decisions had to be made to maintain valuable technology while minimizing losses.She emphasizes the importance of honoring promises to clients and acting with values over a long period of time to build a strong reputation.Rometty also talks about the pressure she faced as CEO during a challenging period for IBM, where revenue declined consecutively for 22 quarters.Despite the stress and urgency, she maintained composure and recognized the responsibility she had to those who depended on IBM.
Ginni Rometty on IBM's Successful Transformation to Stay Relevant: IBM's transformation was necessary for its survival and required divesting $10 billion in businesses. Despite initial criticism, the acquisition of Red Hat helped lay the foundation for IBM's hybrid cloud play today. The company is now 30% consulting and 70% software cloud AI, and believes the transformation was the right decision.
Ginni Rometty believes that the company's success in transforming itself was necessary for its survival in the long run.The board understood that the transformation was existential, and without it, IBM could go extinct.The process was hard, took time, and required IBM to divest $10 billion of businesses.The transformation was successful, and the team managed to change 50% of the company's portfolio in a very large company.Despite facing criticism and taking a short-term hit for acquiring Red Hat, the acquisition was the foundation of IBM's hybrid cloud play today, and IBM is doing very well.Today, IBM is 30% consulting and 70% software cloud AI, unlike before, and the company believes the transformation was the right thing to do.
IBM CEO Ginni Rometty on Scaling from Consumer to Enterprise Solutions: Moving from enterprise to consumer products is difficult due to the need for simplicity and consumer friendliness. IBM's focus on hybrid cloud solutions emerged from understanding that mission-critical work is key to the enterprise, requiring connections with public clouds while maintaining security. Consulting is necessary for a customer-centric approach, offering recommendations, implementation, and follow-through at the intersection of business and technology.
Ginni Rometty discussed the challenges of scaling a company from consumer products to enterprise solutions.Rometty acknowledged that the structures and priorities of these two sectors are fundamentally different, and noted that it is difficult to move from enterprise to consumer products, due to the need for simplicity and consumer friendliness.Rometty stated that IBM's focus on hybrid cloud solutions emerged from their understanding that mission-critical work is key to the enterprise.She explained that enterprises require more than what traditional clouds and private clouds can offer, necessitating connections with public clouds while maintaining security.Rometty highlighted the importance of consulting in IBM's work, stating that it is necessary to have a workforce that values learning and customer-centricity.She explained that consulting spans a broad spectrum, and at IBM, they focus on the intersection of business and technology, offering recommendations, implementation, and follow-through.
Ginni Rometty on Overcoming Challenges in the Acquisition of Monday: IBM's acquisition of Monday was not without its challenges, including the balance between being private or public, losing employees, and building a new business model. Despite this, the successful acquisition earned $2.7 billion in profit and was worth $19.5 billion. Rometty's leadership skills played a crucial role in overcoming these challenges and delivering value to clients.
Ginni Rometty discussed the challenges that came with the acquisition of Monday, the consulting arm of PricewaterhouseCoopers, in 2002.She mentioned that PW had to divest and was considering an IPO, which posed challenges of balancing which way they would go-- IPO or acquisition.One of the challenges was balancing between being a private firm versus a public one.Acquiring Monday meant acquiring hearts, not parts, and the risk of employees leaving IBM.Rometty explained that the company had to build a new business model that people and clients would see as valuable and be willing to pay for.The acquisition turned out to be successful, earning $2.7 billion in profit and being worth $19.5 billion.Despite the challenges, Rometty believed in the company's ability to deliver value to clients and felt that she had built some of the skills necessary to lead the acquisition effectively.
Title Case Lessons Learned from IBM's Acquisition of PwC: Successful acquisitions require collaboration, empathy, and negotiation for long-term success. Firm belief in the business, as well as necessary personnel changes, are crucial. Pushing just enough, without going too far, can lead to the discretionary energy of employees. A win-win situation benefits clients, companies, and employees.
The acquisition of PwC by IBM presented many challenges for the team.IBM had to negotiate with clients every quarter, which affected the margins, and the team had to learn valuable lessons along the way.The biggest lesson was that people needed to believe in themselves and the business to make it work, and sometimes, personnel changes were necessary.Despite the difficulties, the team persevered, and IBM's consulting business eventually hummed, with many of the original team members still working in parts of the business.The acquisition taught the team the importance of collaboration, empathy, and negotiation, with a focus on the long-term success of everyone involved.It was a win-win situation where the clients received value, and IBM and PwC both benefitted.Ultimately, the team learned that success often comes from pushing just enough and not too far, and that discretionary energy from employees comes from a collaborative and empathetic approach.
Ginni Rometty on Engineering, Problem-solving, and Doer Leadership in Tech: Ginni Rometty's early love for engineering and mathematics led her to pursue a career in technology. Her doer leader mentality and hands-on approach to understanding emerging technologies, such as AI, helped her become a successful CEO of IBM. She emphasizes the importance of experiential learning and using games to simplify complex technologies for a broader audience.
Ginni Rometty explains her love for engineering and problem-solving in her early days.She attributes her curiosity and passion for understanding how things work to her interest in mathematics, which led her to pursue engineering instead of her initial plan of becoming a doctor.While working as a systems engineer, Rometty developed a doer leader mentality, which she believes is crucial for experiential learning.Even after transitioning to a management role, Rometty continued to get her hands dirty to build up her intuition and understanding of emerging technologies, such as artificial intelligence (AI).She remembers the seminal chess match between IBM's Deep Blue and world chess champion Garry Kasparov in 1996 and 1997 as a landmark moment in AI history that brought public attention to the supercomputing capabilities of AI.Rometty also highlighted the importance of using games to demonstrate complex technologies to a wider audience.
The milestones and challenges in the development of AI: AI has come a long way, from defeating a chess champion to winning a Jeopardy show. Though the technology is not inherently good or bad, regulating its use is crucial for ensuring proper teaching and usage. These experiences have humanized AI, raising questions about how to treat AI beings in society and the need for proper regulation.
The development of AI has been a rollercoaster ride for many years, with moments of promise and moments of doubt.One of the milestones in AI history was when a machine defeated a chess champion, proving that computation can be used to solve difficult problems.This event demonstrated the power of hardware and software computation and reinvigorated the dream of achieving human-like intelligence with machines.Despite the romantic notion that chess is the embodiment of human intellect, this victory showed that it's just a computation problem.Another momentous event was when Watson beat the challenge of winning a Jeopardy show.This brought AI to the forefront and humanized it, making people realize the potential to understand natural language and reasoning over lots of data.These experiences provide a reflection of humanity, posing challenging questions about how to treat AI beings in society and how to regulate their use.While the technology itself is not inherently good or bad, regulating their use is crucial to ensure they're taught and used properly.
Title Case Ginni Rometty on the Successes and Challenges of IBM's Watson AI Technology: Ginni Rometty believes that the biggest challenges surrounding Watson AI technology were not the technology itself, but rather people and trust issues. IBM learned valuable lessons in choosing the right problems for AI solutions and the need for human change management. Watson has evolved to become an ingredient and platform for AI in various enterprise tools, but Rometty emphasizes the need for dedication to preventing AI destruction and ethical questions surrounding its use.
Ginni Rometty, reflects on the successes and challenges surrounding their Watson AI technology.While the launch of Watson brought AI back into the public consciousness, Rometty believes that the biggest challenges were not the technology itself, but rather people and trust issues.IBM learned many valuable lessons in its pursuit of solving hard problems with AI, including the importance of choosing the right problem to work on and the need for human change management.Watson has evolved to become more of an ingredient and platform for AI inside various enterprise tools, such as AI for security, automated operations, and robotics.IBM continues to have thousands of clients who utilize Watson components in their businesses.While AI has the potential to open up job opportunities and help humanity, Rometty cautions the need for dedication to preventing its destruction.She also puts to rest the misconception that Hal 9,000 was named after IBM, but believes it was an early demonstration of the ethical questions surrounding the use of AI to carry out missions.
The Importance of AI Ethics and Transparency in Decision-making: Transparency and explainability are crucial in building trust in AI, especially in areas like healthcare. AI developers must also consider the impact of their technology on society and address cultural differences. Public conversations about decision-making can enhance understanding and promote trust. Overcoming imposter syndrome requires confidence and preparation to embrace leadership responsibilities.
The conversation between Lex Fridman and Ginni Rometty about AI ethics and transparency highlights the need for individuals and companies involved in developing AI to consider the implications of their technology on society.Transparency and explainability are key principles that must be followed to build trust in AI, not only in important areas like healthcare but in general.Moreover, AI decisions require complex human questions to be answered and must consider cultural differences.While it may be difficult to prevent negative outcomes from AI, public conversations and transparency about decision-making can enhance understanding and promote trust.Those involved in AI development must also consider the impact of their technology on society, as AI will undoubtedly have transformative effects on the way people think, consume news, and interact with infrastructure.Finally, confronting imposter syndrome, a natural feeling for many individuals holding leadership positions, requires a combination of confidence and preparation to embrace the responsibility that comes with it.
Ginni Rometty on Navigating Gender Norms in Business: Ginni Rometty's personal journey as a successful businesswoman offers key insights into how to navigate societal expectations with respect to gender. Self-awareness is critical to success, and defining oneself is key to overcoming challenges. Being one of the few women in her field was challenging but also came with benefits. Rometty hopes to inspire others to challenge societal norms and embrace diversity.
In this interview, Ginni Rometty, a former CEO of IBM, reflects on her personal journey and offers insights into how she navigated societal expectations and norms with respect to gender.Despite facing challenges and being one of the few women in her field, Rometty focused on the work and chose not to dwell on societal constructs.She learned to define herself and found that self-awareness was critical to her success.Growing up in a culture that valued equal opportunity, Rometty built a diverse team and was evaluated based on her team's skills.She admits that being a role model was important to her, but there were times when she felt held back because of her gender.Nevertheless, she persevered and recognized that there were benefits to being one of the few women in her industry.Rometty hopes that her book will inspire others and that people will continue to ask questions and challenge societal norms.
Ginni Rometty on Representation, Mentorship, and Work-Life Balance: Ginni Rometty stresses the importance of representation and mentorship in bringing diverse individuals into fields such as engineering, while also encouraging individuals to solve problems and cultivate their own success. She emphasizes the need for personal boundaries in achieving work-life balance and recognizes the emotional toll of balancing a career and parenting. Rometty also discusses her work with One 10 to provide job opportunities for black individuals without college degrees.
Ginni Rometty highlights the importance of representation and mentorship in bringing diverse individuals into fields such as engineering.As a successful CEO herself, Rometty recognizes the pressure and burdens that come with being a role model for a particular group, but nevertheless emphasizes the need for them.She discusses the work she currently does with the group One 10 to provide upwardly mobile job opportunities for black individuals without college degrees.When asked about achieving work-life balance, Rometty emphasizes the importance of setting personal boundaries and being the only one responsible for determining one's work-life balance.She expresses admiration for those who balance a career and parenting, recognizing the emotional toll it takes on individuals.Overall, Rometty encourages individuals to solve problems and cultivate their own success while recognizing and supporting the potential in others.
Former IBM CEO on the Importance of Empathy and Supporting Working Parents.: Former IBM CEO Ginni Rometty's experience as a caregiver taught her the importance of empathy, which informed her policies as a CEO. She believes having children does not deter women from being great CEOs and is dedicated to creating policies that support working parents. Rometty believes in building relationships based on giving value without expecting anything in return.
Ginni Rometty shared her personal experience of being a caretaker for her siblings while her mother worked and attended school.This responsibility taught her the importance of empathy and informed her policies later on as a CEO.Rometty chose not to have children in order to focus on work, but she emphasized that having children does not deter women from being great CEOs and leaders.She cited her friends and fellow CEOs, Mary Barra and Marilyn Houston, as examples of successful women who are also great parents.Rometty is in awe of working mothers and fathers and is dedicated to creating policies that allow them to return to the workforce after taking time off for family reasons.She believes in building relationships that are not transactional, but rather built on giving value to others without expecting anything in return.
Key Insights from Ginni Rometty on Success, Mentorship, and Human Connection: Cultivate friendships, leave something better behind, ask more questions than give answers, and have patience - these are the key principles to success, according to Ginni Rometty. As a successful businesswoman and mentor to other women leaders, Ginni Rometty emphasizes the importance of human connection and leaving a positive impact in your personal and professional life.
Ginni Rometty, an accomplished businesswoman, mentor, and author, believes that cultivating friendships and love is crucial not only to success but to the human condition in general.She is part of a supportive network of women CEOs who dedicate their time to mentoring and helping diversify the leadership roles of women.When asked for advice on how to have a life they can be proud of, she encourages people to leave something better behind, even if it's just a small act.She also advises young people to focus on asking more questions than giving answers and to have patience as life unfolds.Rometty is an inspiration to many and has left an indelible mark on the business world.Her insights on leadership, mentorship, and the value of human connection are applicable to people of all ages and backgrounds.
