Lifeboat Foundation

American companies like Amazon and Netflix are already using artificial intelligence, says data scientist Michael Li, and ones that will not adapt will be left behind. What we need is to expand the discussion and possible regulation of this new technology that is transforming our lives.

Early adopters, speculators and Geeks are never sufficient to bring a new paradigm to market. Mass appeal and adoption of a mechanism that requires education and a change of behavior is never ‘fait accompli’—until it reaches a tipping point. Once at the tipping point, it can go viral without a structured PR campaign and with risks tied only to technology and scalability.

Continue reading “What will it take for Bitcoin to be widely adopted?” »

The question was asked of me as columnist at Quora.com: Will governments eventually ‘approve’ of cryptocurrency? First let’s agree on terminology…

1. By “approve”, I assume that you are asking if governments will adopt or at least tolerate the use of crypto as legal tender in commerce. That is, not just as a payment instrument, but as the money itself—perhaps even accepting tax payments in cryptocurrency.
2. The word “cryptocurrency” is sometimes applied to altcoins and even to ICOs. These are not the same. Many altcoins meet the criteria of the next paragraph, but none of the ICOs measure up (ICOs are scams). I assume that your question applies to Bitcoin or to a fair and transparent altcoin forked from the original code, such as Bitcoin Cash or Litecoin.

A blockchain-based cryptocurrency that is open source, permissionless, capped, fast, frictionless, with a transparent history—and without proprietary or licensing restrictions is good for everyone. It is good for consumers; good for business; and it is even good for government.

Of course, politicians around the world are not quick to realize this. It will take years of experience, education, and policy experimentation.

Many pundits and analysts have the impression that shifting to cryptocurrency—not just as a payment instrument, but as the money itself—will never be supported by national governments. A popular misconception suggests that a cryptocurrency based economy has these undesirable traits:

Continue reading “Will governments ever approve of cryptocurrency?” »

Since the Reagan administration, federal agencies have been required to produce cost-benefit analyses of their major regulations. These assessments are designed to ensure that regulators are pursuing actions that make society better off.

In my experience working on the White House economic team in the Clinton and Obama administrations, I found cost-benefit analysis provides a solid foundation for understanding the impacts of regulatory proposals. It also generates thoughtful discussion of ways to design rules to maximize net benefits to the public.

Continue reading “Why a minor change to how EPA makes rules could radically reduce environmental protection” »

That growth in factory worker salaries has been a double-edged sword for China. On one hand, it has increased the purchasing power of Chinese which in turn has powered consumer-led economic growth, but on the other it has made China less competitive on wages and forced companies like Foxconn to introduce more automation.

With 1 million employees and half a dozen factories contributing 4 per cent of the country’s export value, Foxconn’s expansion symbolises China’s role as tech manufacturing powerhouse.

Yet even the U.S. is disturbingly vulnerable—and in some respects is becoming quickly more so. It depends on a just-in-time medical economy, in which stockpiles are limited and even key items are made to order. Most of the intravenous bags used in the country are manufactured in Puerto Rico, so when Hurricane Maria devastated the island last September, the bags fell in short supply. Some hospitals were forced to inject saline with syringes—and so syringe supplies started runn…ing low too. The most common lifesaving drugs all depend on long supply chains that include India and China—chains that would likely break in a severe pandemic. “Each year, the system gets leaner and leaner,” says Michael Osterholm, the director of the Center for Infectious Disease Research and Policy at the University of Minnesota. “It doesn’t take much of a hiccup anymore to challenge it.”

The epidemics of the early 21st century revealed a world unprepared, even as the risks continue to multiply. Much worse is coming.

Continue reading “The Next Plague Is Coming. Is America Ready?” »

But there’s a recent lesson worth learning from. Globalization and automation caused upheaval in the manufacturing industry from the 1980s through the early 2000s, and millions of factory workers lost their jobs. The disruption to communities is still being felt, and is arguably at the root of a lot of the biggest social and economic problems of this era.

Some big ideas are starting to percolate. But less dramatic ones might work, too.

As technology changes the way people live and work, cities are undergoing an unprecedented transformation. Those that have the infrastructure and strategy to manage this rapid technological shift are set to become the most competitive.

Globally, city economies in India, Vietnam and China have the strongest short-term momentum. The pace and scale of change in these markets is extraordinary, as they build out their skylines and infrastructure platforms to meet booming demand. While these changes present opportunities, many of these cities are facing challenges to their longer-term development prospects, with strains on infrastructure, high levels of inequality, issues around affordability, and environmental degradation.

Such rapid transformation is often eye-catching. But it is cities that are investing in a sustainable future, and laying the groundwork for ongoing success, that deserve recognition. These cities are “future-proofing” to ensure positive, long-term momentum. Key elements of future-proofing include: the ability to drive and manage technological change; infrastructure that contributes to a high quality of life; a long-term city vision; and attracting and retaining talent.

Continue reading “These are the world’s most future-proof cities” »