Earlier this month, I attended a graduation ceremony at Middlebury College at Vermont, USA. In her speech, the president of the college repeatedly mentioned the phrase "collective genius", which has stuck with me since.

As I understood, the greatest achievements of our time were not born out of a single individual's work, but rather from the collective effort of a group. From the first moon landing to the development of the internet, it was the result of the collective genius of people working together towards a common goal.

Collective genius refers to the idea that a group of individuals, working together in a collaborative and synergistic manner, can achieve a level of creativity and problem-solving greater than what any individual could accomplish on their own. The power of collective genius lies in the ability to tap into diverse perspectives, knowledge, and skills of a group, resulting in outcomes that are greater than the sum of its parts.

By working with a group of people with diverse perspectives and backgrounds, individuals can tap into new ideas and approaches that they may not have otherwise thought of on their own, thereby leading to greater creativity and innovation. They can also receive feedback on their work, allowing them to improve their skills and knowledge. By working with others toward a common goal, individuals can feel more motivated and engaged in their work. Participating in a collective genius initiative can also help individuals expand their professional network and make new connections that can benefit them in the future.

Organisations can benefit from collective genius initiatives through the generation of new ideas, products, and services. Leveraging the collective intelligence of a group can help organisations solve problems more effectively and efficiently, leading to more creative solutions and faster and more effective decision-making. Additionally, by providing employees with the opportunity to participate in collective genius initiatives, organisations can increase their engagement and motivation, as well as their sense of ownership and commitment to the organisation.

Leaders also play a key role in fostering a culture of collective genius within their organisation. By encouraging diversity while hiring, as well as by creating opportunities for employees to work together in cross-functional teams can help harness the power of collective genius. Promoting and encouraging open communication can create opportunities for employees to share ideas and feedback. Leaders can incentivise collaboration and innovation by recognising and rewarding employees who contribute to collective genius initiatives. Creating a safe environment for employees to take risks, providing resources and support for innovative projects, and celebrating the successes and failures that come with experimentation, can help develop a collaborative culture bringing forth the benefits of collective genius.

   Technology can also help to facilitate and enhance the strength of collective genius in several ways. Tools such as video conferencing, instant messaging, and virtual whiteboards can help team members communicate and work together more effectively. Crowdsourcing platforms can be used to gather ideas, feedback, and insights from a broader audience. Artificial intelligence can augment human intelligence and provide new perspectives and insights. Machine learning algorithms can help identify patterns and make predictions based on data analysis. Virtual reality can simulate real-world scenarios and create immersive experiences that enable teams to test and refine ideas in a safe and controlled environment. Today's world presents us with challenges that are more complex than ever before, hence making the power of collective genius more crucial than ever. None of us alone is as strong as all of us together.

The write is an economic analyst.