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Category: economics – Page 156

Australia’s major cities are growing more rapidly than ever before, gaining three million residents in a decade. Concerns about the risks to their long-term liveability and health are growing too. Is the consistent placing of Australian cities at the top of most liveable city rankings a reason for complacency?

The fastest-growing city, Melbourne, is experiencing unprecedented growth and yet has topped The Economist Intelligence Unit global liveability ranking for seven years running. However, much like Australia’s remarkable record of 26 years of continuous economic growth, many of the policy and institutional reforms that delivered this liveability legacy occurred decades ago.

Australia is now undergoing its third great wave of population growth, putting pressure on infrastructure, services and the environment. During the past two waves of growth, in the late-19th and mid-20th centuries, cities implemented visionary responses. It’s largely because of these past phases of planning and investment that our cities have until now been able to sustain their liveability and a reasonably healthy natural environment.

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If we are to have truly smart cities our transport systems will have to be more cost-effective, safer and sustainable. Perhaps most of all they will need to be more integrated, as the EU-funded project MFDS demonstrates.

The stated aim of the EU’s ‘smart, green and integrated transport’ initiative is to build a European transport that is ‘resilient, resource-efficient, climate- and environmentally friendly, safe and seamless for the benefit of all citizens, the economy and society.’

In contribution, the EU-funded MFDS project has developed a versatile and affordable ‘Intelligent Transport System’ offering several functions including wrong-way driver detection, traffic congestion detection, vehicle counting by vehicle classification and parking accounting. The core innovation of MFDS is the system’s ability to perform its functions simultaneously, while remaining low-cost to buy and install, as well as running on minimum power. The project’s feasibility study has demonstrated that the system will be of interest to multiple EU markets.

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For all its progress, Russia’s state-funded science still lags behind that of emerging science powers including China, India and South Korea, especially when it comes to translating discoveries into economic gains. Decades of underfunding, excessive state bureaucracy and entrenched opposition to reform within the country’s sputtering research institutions are hampering competitiveness, says Khokhlov. “What we need are new ideas, new labs, fresh talent and more freedom and competition.”

With Vladimir Putin set to earn another presidential term, researchers wonder whether his government will reverse decades of decline.

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New developments require new materials. Until recently, these have been developed mostly by tedious experiments in the laboratory. Researchers at the Fraunhofer Institute for Algorithms and Scientific Computing SCAI in Sankt Augustin are now significantly shortening this time-consuming and cost-intensive process with their “Virtual Material Design” approach and the specially developed Tremolo-X software. By combining multi-scale models, data analysis and machine learning, it is possible to develop improved materials much more quickly. At the Hanover Trade Fair from April 23 to 27, 2018, Fraunhofer will be demonstrating how the virtual material design of the future looks.

In almost every industry, new materials are needed for new developments. Let’s take the automotive industry: while an automobile used to consist of just a handful of materials, modern cars are assembled from thousands of different materials – and demand is increasing. Whether it’s making a car lighter, getting better fuel economy or developing electric motor batteries, every new development requires finding or developing the material that has exactly the right properties. The search for the right material has often been like a guessing game, though. The candidates have usually been selected from huge material databases and then tested. Although these databases provide insight into specific performance characteristics, they usually do not go far enough into depth to allow meaningful judgments about whether a material has exactly the desired properties. To find that out, numerous laboratory tests have to be performed.

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Three years in, what I find most incredible about e-Residency is that it actually works.

Estonia’s quest to become a “digital nation”

To better understand how e-Residency came about, let’s go back almost 30 years, to 1991. Estonia had just won independence from the Soviet Union and was in the early stages of building a market-oriented economy from scratch. At the time, leaders were quick to identify the potential of the internet and open source collaboration tools (interestingly this was less out of principle, and more for the simple reason that they had no money to pay for Microsoft Office). They decided to become the world’s premier “digital nation.” A favorite quote I’ve heard in Estonia: “What do you think of when you hear the word Slovenia? Nothing. Precisely! We don’t want to be Slovenia.”

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I was on a panel at a recent conference when the moderator asked audience and panel members what they thought of UBI. The overwhelming consensus of the 500 or so people in the room appeared to be “we’re skeptical, but should experiment.” UBI sounds like a good or not-so-good idea to different constituents because we have so little understanding of either how we would do it, or how people would react. None of us really knows what we’re talking about when it comes to UBI, akin to being in a drunken bar argument before there were smartphones and Wikipedia. But there are a few basic principles and pieces of research that can help.

Liberals and conservatives alike love—and fear—the idea of giving free money to everyone. But we have to try it anyway.

Author: Joi Ito BY

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My 17-min speech at the World Fair Nano is out. Give it a listen to learn all about my Federal Land Dividend, a #basicincome which doesn’t raise taxes and will actually shrink government while eliminating all poverty. This is a major policy of my #libertarian governor run and has possibility for bipartisan support.

Learn more about Zoltan’s work at http://www.zoltanistvan.com/

Worlds Fair Nano (https://worldsfairnano.com) is a 2-day future festival. Much like the Worlds Fairs of old, the goal of WFN is to connect everybody with the future. The organizers behind Worlds Fair Nano plan to grow Nano from 2 days and 10,000 people into a 6 month Worlds Fair in the U.S.

Continue reading “The Future of Universal Basic Income” | >

The march of AI into the workplace calls for trade-offs between privacy and performance. A fairer, more productive workforce is a prize worth having, but not if it shackles and dehumanises employees. Striking a balance will require thought, a willingness for both employers and employees to adapt, and a strong dose of humanity.

ARTIFICIAL intelligence (AI) is barging its way into business. As our special report this week explains, firms of all types are harnessing AI to forecast demand, hire workers and deal with customers. In 2017 companies spent around $22bn on AI-related mergers and acquisitions, about 26 times more than in 2015. The McKinsey Global Institute, a think-tank within a consultancy, reckons that just applying AI to marketing, sales and supply chains could create economic value, including profits and efficiencies, of $2.7trn over the next 20 years. Google’s boss has gone so far as to declare that AI will do more for humanity than fire or electricity.

Such grandiose forecasts kindle anxiety as well as hope. Many fret that AI could destroy jobs faster than it creates them. Barriers to entry from owning and generating data could lead to a handful of dominant firms in every industry.

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Continue reading “The workplace of the future” | >

Kogan developed Kosinksi’s ideas, improved them, and cut a deal with Cambridge Analytica. Armed with this bounty – and combined with additional data gleaned from elsewhere – Cambridge Analytica built personality profiles for more than 100m registered US voters. It’s claimed the company then used these profiles for targeted advertising.

Imagine for example that you could identify a segment of voters that is high in conscientiousness and neuroticism, and another segment that is high in extroversion but low in openness. Clearly, people in each segment would respond differently to the same political ad. But on Facebook they do not need to see the same ad at all – each will see an individually tailored ad designed to elicit the desired response, whether that is voting for a candidate, not voting for a candidate, or donating funds.

Cambridge Analytica worked hard to develop dozens of ad variations on different political themes such as immigration, the economy and gun rights, all tailored to different personality profiles. There is no evidence at all that Clinton’s election machine had the same ability.

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