에코시스템 없는 프론티어는 안정적이지 않다

Microsoft CEO Satya Nadella argues that the future of enterprises in the AI era depends not on competing for frontier models alone, but on building a frontier ecosystem where value flows to all organizations and industries. He emphasizes that sustainable advantage comes from creating learning loops that combine human capital with AI capabilities (token capital), enabling continuous organizational learning that competitors cannot easily replicate. This shift redefines how companies must think about their economic role, moving away from winner-take-all dynamics toward shared value creation.