McKinsey: How have European banks started to implement gen AI? Gökhan Sari: Since we spoke last year, we’ve seen a tremendous effort to implement gen AI across most of our clients. Last year, it was more about, “Should we try it? Are we going to have hallucinations? What about the regulatory aspects?” But this year, it’s all about, “OK, it’s working in a few places, how can we scale this…
What does the Employment Rights Bill mean for organisational health? The Employment Rights Bill introduces key reforms to UK labour laws, including a ban on exploitative zero-hours contracts, expanded day-one employment rights, and restrictions on ‘fire and rehire’ practices. These changes aim to enhance worker protections, but they also present challenges and opportunities for businesses, particularly in workforce management, organisational structure, and cultural shifts. Reading time: 7 minutes The UK…
REDMOND, Wash. — Oct. 10, 2024 — On Thursday, Microsoft Corp. is unveiling several Microsoft Cloud for Healthcare innovations that connect care experiences, enhance team collaboration, empower healthcare workers, and unlock clinical and operational insights. Through new healthcare AI models in Azure AI Studio, capabilities for healthcare data solutions in Microsoft Fabric, the healthcare agent service in Copilot Studio, and an AI-driven nursing workflow solution, Microsoft Cloud for Healthcare is…
This galaxy is one hundred times smaller than the Milky Way, but is surprisingly mature for so early in the universe. Like a large city, this galaxy has a dense collection of stars at its core but becomes less dense in the galactic ‘suburbs’. And like a large city, this galaxy is starting to sprawl, with star formation accelerating in the outskirts.This is the earliest-ever detection of inside-out galactic growth.…
The last few years have been among the most successful in the recent history of retail banking, with a confluence of macroeconomic trends driving growth and profitability. In some geographies, pandemic-era government stimulus lifted economic growth, fueled consumer spending, created favorable conditions for balance sheet expansion, and helped keep credit risk in check. Following the pandemic years, rising interest rates improved banks’ net interest margins as loan interest grew faster…
In the best traditions of a Persian epic, Tehran has long been able to play on the fear and curiosity of the great powers, leaving them in the dark about the true contents of its “box”. Against this background, all sorts of assumptions arise about whether Iran really needs nuclear weapons, which will almost certainly lead to international condemnation and even greater isolation, or whether it is more focused on…
The rise of English wine over the past 30 years, is a remarkable story. Award-winning drinks expert Henry Jeffreys shares insights on England’s newfound prominence in the wine world and discusses his latest book, ‘Vines in a Cold Climate,’ which explores the pioneers behind this revolution. What first piqued your interest in English wine? I’d enjoyed English sparkling wines for quite some time but hadn’t really fallen in love with…
Over the past century, home appliances have evolved to reduce the burden of household chores and add convenience to lives. The accelerated development of these appliances is marked by the integration of artificial intelligence (AI) technology that analyzes usage environments and executes optimal functions to significantly alleviate inconveniences associated with household tasks. To that end, Samsung Electronics is updating its home appliances every year. With software at the core, these…
Carbon emissions are a global challenge, but the way each company responds to the risks and assesses new opportunities should be highly case specific. While compliance is critical, strategy should matter most of all. CFOs must ensure that their organizations meet customer priorities, adapt to regulatory changes, and develop an informed view of carbon management tools. Too often, companies can have multiple, inconsistent, and ineffective carbon data and analyses across…
Human resources needs to rethink its role as an agent of management and become a passionate advocate for employees and their interests. Ashley Goodall October 10, 2024 Reading Time: 9 min subscribe-icon Subscribe Share Carolyn Geason-Beissel/MIT SMR | Getty Images For the human resources profession, this has been the best of times and the worst of times. Early in 2020, as the realities of the pandemic set in, all the…
Quick Hits The Equality and Human Rights Commission (EHRC) published technical guidance for employers on 26 September 2024, after a short consultation on a draft version earlier this year. Alongside the full guidance, the EHRC produced the Employer 8-step guide: Preventing sexual harassment at work. Under the act, employers will be held accountable for addressing sexual harassment after it occurs and for proactively mitigating the risk of such conduct occurring.…
Whenever a compelling new AI model emerges, I like to put it through its paces. Recently, I’ve been experimenting with the preview of OpenAI o1 (formerly known as Strawberry), an astonishing new LLM that’s capable of solving complex and layered problems, especially in math, science, and coding. For businesses, o1 model and a slew of others in the works represent a clear opportunity. But they also reflect a less obvious challenge:…
Q: What is space law right now and what developments can we anticipate? Space law is a very underdeveloped field of international law. That’s understandable because until recently, activities in space were quite limited and primarily state led. The boom in commercial space companies and the plans by a number of nations to establish bases on the moon will necessarily lead to filling in the gaps, because the main legal…
The need for semiconductors has exploded since 2010, and despite a recent downturn in 2023, the semiconductor industry is trending toward recovery and long-term growth to more than $1 trillion in revenue by 2030. Comparable to previous market cycles, some segments of the semiconductor industry have grown, while others have contracted. In this market cycle, the demand for chips to power smartphones and personal computers has dropped, and the demand for…
Quick Hits A Pennsylvania company dropped its lawsuit challenging the FTC’s noncompete rule after a judge refused to enjoin it. The move leaves the fate of the rule to litigation stemming from Florida and Texas federal courts that have ruled against it. The rule is currently enjoined nationwide based on the Texas court’s order. The FTC’s noncompete rule would effectively ban all noncompete agreements between employers and employees. On October…
[Music] MOLLY WOOD: Tomas, thanks so much for being on the show. TOMAS CHAMORRO-PREMUZIC: It’s a great pleasure. Thank you for having me. MOLLY WOOD: So, you’re a psychologist, an educator, an executive, an author. I’d love to hear a little about your career path and how your interest in AI developed alongside of that. TOMAS CHAMORRO-PREMUZIC: So I started my career as an academic, but I was always very interested in the real-life…
Nicolas, a busy senior executive, really enjoyed working in the construction industry. He knew his company had a mandatory retirement age, but he didn’t give it much thought. He figured that retirement would give him more time to perfect his golf game and travel with his wife.On the day he retired, he was delighted to see how his colleagues had gone out of their way to celebrate his achievements. Immediately…
Picture this: you’re actively working to foster a positive workplace culture, but managers and leaders are adopting a ‘hands-off’ approach. At first, it seems harmless, even convenient—but beneath the surface, it’s quietly wreaking havoc. Top talent? They’re slipping away unnoticed. And while you’re busy chasing other priorities, the very core of your organization is weakening—dragging down morale, productivity, and ultimately, organizational success. A recent SHRM Culture Report reveals that three…
The emergence, in 2022, of a large group of countries, which in the Russian foreign policy discourse is referred to as the “World Majority,” came as a most meaningful event in the modern-day international life. The World Majority countries refused to be part of the economic and other sanctions imposed on Moscow by the West and have kept unchanged, or even expanded, trade and investment relations with Russia. This concept…
Topics Frontiers An MIT SMR initiative exploring how technology is reshaping the practice of management. More in this series Matt Herring/Ikon Images When decision makers include individuals from varied economic backgrounds, generations, genders, races and ethnicities, sexual orientations, physical abilities, and religions, everyone is better off — employees, customers, suppliers, investors, and the people in the communities where businesses operate. I have worked with global companies for over two decades…
AccessDefinition: The ability and means to communicate with or otherwise interact with a system, to use system resources to handle information, to gain knowledge of the information the system contains, or to control system components and functions.Air GapDefinition: To physically separate or isolate a system from other systems or networks (verb).AnonymizersDefinition: An anonymous proxy is a tool that attempts to make activity on the Internet untraceable [by making data anonymous…
Introducing a new industry reference architecture for airlines and airports The aviation industry is entering a new era: airlines and airports worldwide are on the brink of transformation, driven by the power of generative AI. This powerful technology is creating new value at every stage of the aviation ecosystem, revolutionizing the way we fly and operate. From personalized travel offers to instant responses for customer service requests, AI is enhancing…
The collaboration, which includes researchers from the University of Cambridge, aims to accelerate progress on new neuro-technologies, including miniaturised brain implants designed to treat depression, dementia, chronic pain, epilepsy and injuries to the nervous system.Neurological and mental health disorders will affect four in every five people in their lifetimes, and present a greater overall health burden than cancer and cardiovascular disease combined. For example, 28 million people in the UK…
The collaboration, which includes researchers from the University of Cambridge, aims to accelerate progress on new neuro-technologies, including miniaturised brain implants designed to treat depression, dementia, chronic pain, epilepsy and injuries to the nervous system.Neurological and mental health disorders will affect four in every five people in their lifetimes, and present a greater overall health burden than cancer and cardiovascular disease combined. For example, 28 million people in the UK…
In 2024, the sector will generate $1.28 billion in revenue; the data should be sounding alarm bells for brands. Women’s sports are breaking through age-old barriers. In the past few years, we’ve witnessed significant progress, notably highlighted by the 2023 Women’s World Cup, which saw women’s sports take centre stage. That momentum gained further traction when EA Sports included women’s teams and players in their video game for the first time with EA…
Quick Hits Contracts for freelance work of $250 or more must be in writing and contain certain specific information regarding services to be provided and dates for contract completion, among other things. Payment for freelance work must be made on time or within thirty days after the completion of the work if no due date is specified in the contract. The FWPA prohibits discrimination or adverse action against freelance workers…
In 2020, Hassabis and Jumper of Google DeepMind presented an AI model called AlphaFold2. With its help, they have been able to predict the structure of virtually all the 200 million proteins that researchers have identified.Since their breakthrough, AlphaFold2 has been used by more than two million people from 190 countries. Among a myriad of scientific applications, researchers can now better understand antibiotic resistance and create images of enzymes that…
9 October 2024By Dennis Essers, Laura Lebastard, Michele Mancini, Ludovic Panon and Jacopo TiminiChina has been an important and reliable supplier of critical inputs for European industries for decades. But how vulnerable would our companies be if that suddenly stopped? The ECB Blog estimates the potential losses in value added for manufacturers in five countries. China is the top provider of Foreign Critical Inputs (FCIs) to the EU’s industries. So…
Whether you’re interested in setting clear financial goals, saving to buy a property or planning an enjoyable retirement, a positive side-effect of getting a solid plan in place is the impact it makes on your financial wellbeing. Strong financial wellbeing comes when you’ve built a good relationship with your money and have peace of mind about your financial circumstances. These elements enable you to thrive, whatever your stage of life. In our…
Media executive and entrepreneur Uday Shankar has played a key role in the transformation of entertainment and media in India and the Asia–Pacific region over the past three decades. After getting his start in journalism, Shankar transitioned to the entertainment business in 2007 as CEO of Star India, part of News Corp. He later went on to hold executive roles at 21st Century Fox (Asia) and Disney (Asia–Pacific). While at…
Topics Leadership Talent Management Carolyn Geason-Beissel/MIT SMR | Getty Images Selecting the right candidate for an executive role ranks high on the list of the most consequential organizational decisions. But despite employing the common tools of due diligence when assessing whether someone will perform well in the role, most companies’ predictive powers rank alongside astrology in reliability. Organizations consistently make poor hiring decisions, but they rarely rethink their approaches. Despite…
Microsoft’s Digital Crimes Unit (DCU) is disrupting the technical infrastructure used by a persistent Russian nation-state actor Microsoft Threat Intelligence tracks as Star Blizzard. Today, the United States District Court for the District of Columbia unsealed a civil action brought by Microsoft’s DCU, including its order authorizing Microsoft to seize 66 unique domains used by Star Blizzard in cyberattacks targeting Microsoft customers globally, including throughout the United States. Between January…
Q: What questions have guided your career? The question I began with was, “What drives inequality in society?” Early projects led me to believe that the way organizations structure themselves and manage their employment relationships has a significant impact on why some people get ahead and some people don’t. At the time, organizations were getting essentially no attention from scholars interested in inequality, so it was an area where I…
In the US, while the foundations of recent growth, tenacious beyond expectations, are showing some cracks, there are reasons to hope that they will not become too deep. On the one hand, we can count on the positive effects of an earlier cycle of monetary easing and, on the other, on the solid financial position of households, whose net worth has risen considerably thanks to strong gains in equities and…
Quick Hits Newly enacted AB 2499 expands the FEHA by making it unlawful to discriminate or retaliate against an employee for taking time off from work for jury duty or to comply with a subpoena or other court order as a witness in a judicial proceeding, or, if the employee is a victim (i.e., an individual against whom a “qualifying act of violence” has been committed) or has a family…
Hinton (King’s 1967) and Hopfield were awarded the prize “for foundational discoveries and inventions that enable machine learning with artificial neural networks.” Hinton, who is known as the ‘Godfather of AI’ is Emeritus Professor of Computer Science at the University of Toronto. He is the 122nd member of the University of Cambridge to be awarded the Nobel Prize.This year’s two Nobel Laureates in Physics have used tools from physics to…
E-commerce is undergoing a fundamental change that is reshaping how customers buy and companies sell. While generative AI (gen AI) has grabbed the attention of executives over the past year, a quieter wave of technology-driven innovation is washing over almost every aspect of e-commerce. This technology infusion is powering a much more comprehensive and integrated version of next-gen e-commerce, in which a broad ecosystem of capabilities—such as R&D, logistics, warehousing,…
Using ultra-high-resolution scanners that can see the living brain in fine detail, researchers from the Universities of Cambridge and Oxford were able to observe the damaging effects Covid-19 can have on the brain.The study team scanned the brains of 30 people who had been admitted to hospital with severe Covid-19 early in the pandemic, before vaccines were available. The researchers found that Covid-19 infection damages the region of the brainstem…
Leaders can help more employees upskill, reskill, and adapt to change by applying four key strategies. Wendy Tan and Joo-Seng Tan October 07, 2024 Reading Time: 7 min Carolyn Geason-Beissel/MIT SMR | Getty Images Amid the ever-increasing frequency and complexity of job changes and career transitions people experience, the notion of “one life, one career” has given rise to the phenomenon of a “portfolio career” that comprises a variety of…
The first article in this series provided a general overview of the OSH Act and OSHA; the second article examined OSHA’s rulemaking process; the third article reviewed an employer’s duty to comply with standards; the fourth article discussed the general duty clause; the fifth article addressed OSHA’s recordkeeping requirements; the sixth article covered employees’ and employers’ respective rights; the seventh article addressed whistleblower issues; and the eighth article covered the…