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Video: Wisdom of crowds basics

The "wisdom of crowds" concept is simple: the aggregate intelligence of a group of people is higher than that of a single individual. This video describes a wisdom of crowds experiment.

The "wisdom of crowds" concept is simple: the aggregate intelligence of a group of people is higher than that of a single individual.

While the implications of this concept are profound, practical applications are harder to come by. In future blog posts, I will explain how the wisdom of crowds can be leveraged to reduce project failures.

This video describes an historical experiment that demonstrated the power of wisdom of crowds.