On December 12, 2024, the Ontario government launched a consultation for the regulations (the Consultation) under Ontario’s new consumer protection legislation. On December 6, 2023, the new Consumer Protection Act, 2023 (the New CPA) received Royal Assent as part of the Bill 142, the Better for Consumers, Better for Businesses Act, 2023. The substance of the New CPA will be detailed in the Proposed Regulations. Once in force, the New…
We are relatively cautious about what we buy when the stakes are high. But do we apply the same level of scrutiny to the most important investments of our lives – choosing a partner or a career path? Divorce and turnover rates suggest not. While we won’t weigh in on the complexities of marriage, as career advisors and coaches, we know that cultural misalignment is the primary reason why people leave…
At a glance The ‘empowerment line’ measures progress toward a world where everyone’s essential needs are met. About 40 percent of the global population lives above the empowerment line—they can afford a standard basket of essential goods and services and begin to save. The rest live below the line, mostly in lower- and middle-income economies where GDP growth is the main driver of empowerment. At higher GDP levels, income inequality…
Topics Artificial Intelligence and Business Strategy The Artificial Intelligence and Business Strategy initiative explores the growing use of artificial intelligence in the business landscape. The exploration looks specifically at how AI is affecting the development and execution of strategy in organizations. In collaboration with More in this series Get updates by email Please enter a valid email address Thank you for signing up Privacy Policy After trying his luck at…
The ownership, use, and monetization of produced water have rapidly transformed what was once a liability into a valuable asset, creating significant legal and economic uncertainty for operators and landowners alike. With advancements in water recycling technologies and operators discovering new revenue opportunities from produced water byproducts, disputes surrounding produced water are intensifying. This article examines the multifaceted legal and economic issues surrounding produced water, including legislative developments, ongoing litigation,…
Quick Hits Italy introduced new parental leave benefits, effective January 1, 2024. Singapore expanded paternity leave benefits and undertook comprehensive workplace fairness legislation. China (Shanghai) implemented penalties for unequal pay in labor dispatch. Brazil and the European Union (EU) focused on gender pay equity with new reporting obligations. Middle Eastern countries such as the United Arab Emirates (UAE) and Saudi Arabia enhanced protections for local nationals. Saudi Arabia required private-sector…
Introduction On Dec. 18, 2024, the finalized Clean Energy Regulations (the Regulation) were published in the Canada Gazette, Part II. Aligning with the release of the final version of the Regulation, the Government of Canada published Powering Canada’s Future: A Clean Electricity Strategy (the Electricity Strategy) on Dec. 17, 2024, which notes that the Regulation is one of the measures that the federal government has taken to help build a…
As computer chips continue to get smaller and more complex, the ultrathin metallic wires that carry electrical signals within these chips have become a weak link. Standard metal wires get worse at conducting electricity as they get thinner, ultimately limiting the size, efficiency, and performance of nanoscale electronics.In a paper published Jan. 3 in Science, Stanford researchers show that niobium phosphide can conduct electricity better than copper in films that…
The size and spin of black holes can reveal important information about how and where they formed, according to new research. The study tests the idea that many of the black holes observed by astronomers have merged multiple times within densely populated environments containing millions of stars.The team, involving researchers from the University of Cambridge, examined the public catalogue of 69 gravitational wave events involving binary black holes detected by…
Drawing the contours of the US (and therefore global) scenario requires making assumptions about both the scale of the measures likely to be implemented and their timing, depending on whether they fall within the prerogatives of the president or require the approval of Congress.As far as tariffs are concerned, Donald Trump's threats look like extreme pressure tactics. They call for an ‘intermediate’ scenario consisting of substantial increases, without however reaching…
Topics How to Maximize the Business Value of Generative AI The promise of generative AI is value — higher revenue, streamlined efficiencies, and more innovative decision-making. Achieving this value isn’t easy. Maximizing it is even harder. This MIT SMR Executive Guide offers expert insights into the strategies needed to get the most out of GenAI. Brought to you by: More in this series subscribe-icon Subscribe Share Neil Webb There’s no…
Seyfarth Synopsis: The Massachusetts Executive Office of Labor and Workforce Development (EOLWD) has confirmed that employers subject to the new Massachusetts pay data reporting law will only have to submit their most recent EEO forms even though (in most instances) those forms do not contain employee compensation data. As we reported previously, Massachusetts recently passed new legislation that imposes pay transparency requirements on most employers and creates a regime –…
Quick Hits Starting with ACA reporting for 2024, employers and health insurance providers are only required to send Forms 1095-B and1095-C to covered employees upon request. Employers can distribute Forms 1095-B and1095-C electronically. Employers now have ninety days to respond to 226-J letters. Paperwork Burden Reduction Act The Paperwork Burden Reduction Act (H.R. 3797) amends the ACA by eliminating the mandate for employers and health insurance providers to automatically distribute…
While male brains tended to be greater in volume than female brains, when adjusted for total brain volume, female infants on average had significantly more grey matter, while male infants on average had significantly more white matter in their brains.Grey matter is made up of neuron cell bodies and dendrites and is responsible for processing and interpreting information, such as sensation, perception, learning, speech, and cognition. White matter is made…
subscribe-icon Subscribe Share Nick Purser/Ikon Images If you want to be a successful leader in 2025, you might want to put the two C’s at the top of your list: communication and culture. Indeed, looking back at MIT SMR’s most popular articles in recent months, it’s striking how many of them focus on communication and culture. These two strengths are inseparable: An organization can’t have a strong culture without strong…
Think local and escape echo chambers Todd Cort, Senior Lecturer in Sustainability; Faculty Director, Sustainability Program, MBA for Executives; Faculty Co-Director, Yale Center for Business and the Environment In 2025, I anticipate that climate action will go local. Sometimes we rely on national governments too much to take on the “big challenges” like climate change. I expect that we will see another wave of local and regional efforts to “green”…
Beauty is no longer in the eye of the beholder; it’s at the fingertips of the generative AI (gen AI) prompter. Gen AI could add $9 billion to $10 billion to the global economy based on its impact on the beauty industry alone, and early movers have already begun testing the technology. But scaling these experiments will be challenging, given the velocity of gen AI innovation. The gap between the…
A researcher measures a small mammal. Image credit: Ed Turner. Understanding how different aspects of tropical forests are affected by logging and conversion to oil palm plantations is important for identifying priority habitats for conservation and restoration. It can also help aid decisions on land use – for instance, whether a logged forest should be protected, restored, or allowed to be converted into a plantation. But up to now, most…
India’s luxury landscape is at a crucial juncture. With a booming economy, the world’s largest population and a dynamic, youthful demographic, the country has been dubbed the next luxury hub, especially at a time when luxury consumption in China is declining as spending softens. Is the centre of the world’s luxury market shifting from China to India, as a fast-growing appetite in goods such as high-end watches suggests? And, if so, how should brands approach…
6 January 2025By Tsvetelina NenovaThis is the first post in our series featuring the work of the ECB’s 2024 Young Economist Prize finalists. Tsvetelina Nenova won with the research highlighted in this post.When returns on safe assets fall, investors move some of their money to riskier assets. This ECB Blog shows: US Treasuries are replaced by global bonds, while substitutes for Bunds are mostly from Europe. This effect is smaller…
Prometheus's gift of fire to humanity ignited progress but came at a personal cost. Today, businesses face a similar crossroads with generative AI: harness its power wisely or risk unforeseen consequences. By: Piotr Owczarek As AI revolutionizes industries, what becomes of human creativity? More businesses of all sizes begin to adopt generative AI, changes in the workforce become apparent. Many jobs eliminated as automation in the fields of graphic…
By: Dawn Lurie, Mahsa Aliaskari, and Brooke Gary Along with the New Year, January 1st also marks the implementation of a new Visa Bulletin by the U.S. Department of State. Each month, the United States Immigration and Citizenship Services (USCIS) chooses whether it will follow the Dates for Filing Visa Applications chart or the Application Final Action Dates chart to determine when an employment-based and family-sponsored Adjustment of Status (AOS)…
Generative AI has rapidly entered the legal industry, offering tools for document drafting, legal research and case analysis. While these tools promise increased efficiency, they also present significant risks – one of which is AI hallucinations. These occur when AI generates content that appears plausible but is entirely inaccurate. In the legal world, using such inaccurate information can lead to serious problems, including presenting false facts or misinterpreting cases and…
Let me explain. There is a huge literature on the dollar based IMFS, most of it based in the US and committed, contrary to all evidence, to celebrating its effective ‘public service’ to the world and to predicting its longevity. There is also a huge literature on financialization, and its harms. However, until my Geopolitical Economy of 2013, no one spoke of their intimate connection. I argued there, and in…
At the end of 2023, the final McKinsey Talks Operations podcast of the year concluded that there was no such thing as normal for operations leaders. Looking back on the 12 months since then, it seems the sentiment holds true—both everything and nothing has changed. In this episode, hosts Christian Johnson and Daphne Luchtenberg reflect on four recurring themes from their discussions with McKinsey experts and industry guests: building resilient…
The year 2024 brought about notable changes in employment law in Hong Kong. This article provides a brief overview of the key developments that occurred over the past year and a look forward at the expected changes as we transition into 2025. For the full version of this article, please click here. 24 January: District Court reaffirms unauthorised absence as a ground for summary dismissal. Click here to read more.…
Companies in the automotive and industrial sectors are rewiring to become software-enabled enterprises. As in-vehicle software emerges as a critical differentiator, companies have started to reevaluate the role of software and overhaul their development approaches. Today, software serves as the backbone for advanced features and safety-critical functions while enhancing operational efficiency and propelling innovation. But software can also introduce organizational challenges, because underdeveloped software capabilities can result in start-of-production delays…
The Horizon scandal, which led to the wrongful prosecution of hundreds of subpostmasters, has severely dented the public’s perception of the Post Office as an institution. Against this backdrop, branch closures are planned across the Post Office network. These further cuts to a system already struggling can only do further harm to the sense that well-resourced public services could and should play a central role in everyday life. In my…
Quick Hits The EU Platform Work Directive took effect on December 1, 2024, but EU member states have until December 2, 2026, to implement it into national law and develop appropriate guidance for the classification of platform workers as independent contractors versus employees. The directive imposes obligations on digital platforms using automated decision-making or automated monitoring systems that go above and beyond the requirements of the EU AI Act. The…
Self-driving cars once seemed beyond the realm of possibility, but they are now being piloted on city streets. Now another mobility innovation has emerged that could accelerate and complement autonomy: remote driving.By combining sophisticated communication systems with real-time video feeds, remote-driving systems can instantly convey information about road conditions, traffic, and unexpected obstacles to off-site drivers who can control the vehicle’s braking and steering (Exhibit 1). These systems can be…
Over the past two decades, the shift from fixed-function hardware to software-defined hardware has revolutionized industries ranging from networking to mobile communications. With software-defined hardware, developers can improve products and services by continually updating software rather than undertaking more costly and time-consuming hardware upgrades. Devices that were once rigid and task specific are now becoming programmable and flexible, allowing them to handle new tasks and demands. Despite the functional benefits…
Quick Hits California prohibits employers from discriminating against workers who suffer workplace injuries or who have filed or made known their intention to file a claim for compensation under an employer’s workers’ compensation insurance policy. Discrimination can include discharging, threatening to discharge, or retaliating against a worker in any manner for filing or making known an intention to file a workers’ compensation claim. Penalties for discriminating against a worker for…
Shared autonomous vehicles (AVs) now operate in more than ten cities worldwide, including Beijing, Oslo, Phoenix, and San Francisco. More deployments are planned in other regions as AVs with level four capabilities—those that can handle most functions without human intervention—become increasingly sophisticated. While engineers have overcome many technological hurdles for autonomous mobility and continue to make strides, industry leaders should also address other issues—especially those related to the economics of these…
Researchers from the UK and China drew this conclusion after studying proteins from blood samples taken from over 42,000 adults recruited to the UK Biobank. Their findings are published today in the journal Nature Human Behaviour.Social relationships play an important role in our wellbeing. Evidence increasingly demonstrates that both social isolation and loneliness are linked to poorer health and an early death. Despite this evidence, however, the underlying mechanisms through…
To some extent, it is generally typical of the entire World Majority — the world outside the community of Western countries, united around one leader and professing common interests and values in relations with the outside world. In turn, the countries of Greater Eurasia do not have comparable opportunities to consolidate their interests and strategic aspirations. There is no dispute that a certain competition is also present in other regions of the planet, including the West: for example, European states are now desperately fighting for…
subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images Leading teams in a hybrid work environment is still a relatively new science — and presents many types of challenges. Hybrid team leaders need to identify the best team norms around communication, refine the workplace culture to foster collaboration and community, decide on smart ways to manage accountability, and more. However, hybrid work also presents valuable opportunities for leaders trying to…
This commentary originally appeared in Newsweek. As the media has been blanketed with well-deserved praise for President Jimmy Carter’s noble life, it feels as though everything has now been said... but perhaps just not yet by everybody. While I didn’t serve in the Carter campaign or in his administration, for a dozen years—from 1989 to 2001—I worked with him on various projects after he left office. He wanted to expand…
Artificial intelligence (AI) has the potential to transform the world of work. Case studies show that AI applications, including the latest large-scale language models, can significantly increase productivity in professions such as customer service and management consulting. Swiss companies also seem to share this view. Investments in IT, communication and technology already account for 30 percent of all equipment investments by Swiss companies – more than during the dotcom bubble.…
We're often warned against opening Pandora's box, a metaphor for unleashing a torrent of evils on the world. Yet, we forget an essential detail: Elpis – the spirit of hope – remained within the box. Even when the world seems consumed by chaos, hope endures.Throughout history, philosophers and leaders have celebrated hope as a powerful force. The ancient Chinese philosopher Lao Tzu observed, “As long as we have hope, we…
To assess the foreign policy preferences of potential BRICS partners, it is interesting to look at their voting in the UN General Assembly. It is clear that their results should not be taken as absolutes, and the real political practice of states is not limited to voting results and is not determined by them. But these votes are also symbolically quite important, writes Valdai Club Programme Director Oleg Barabanov. The…