Rise of the machines: Bank of Canada warns of automation's side effects. A senior Bank of Canada official says while the country's poised to reap economic benefits from technological progress — it must also brace for potentially painful side effects like job losses and greater income inequality.
Bank of Canada urges government to embrace automation economy - Home. Wednesday April 19, 2017 Read story transcript The senior deputy governor of the Bank of Canada Carolyn Wilkins issued a warning to the federal government on April 18, suggesting if policy doesn't keep up with the changing world, Canadian business could be left behind.
As this country shifts toward a more automated digital economy, Wilkins says it's important to embrace this technology because it's good for productivity and our standard of living. "In the past, automation was largely restricted to simple manual or procedural tasks. Today's technology makes it possible to automate an increasing number of cognitive and non-routine tasks across a wide range of industries," Wilkins said in her speech to the Toronto Board of Trade.
Groupthink is depriving the West of vision. In the United Kingdom a majority could vote in June to leave the European Union.
In the United States, the presumptive Republican presidential candidate is Donald Trump. Britain out of the EU? President Trump? To express incredulity is not a political judgment. If We Can See the Future We Want, We Can Shape It Too. Alida Draudt and Julia Rose West are not only co-authors, business partners, and best of friends, but most importantly, they have differing points of view—which is ideal for two budding Silicon Valley futurists.
Alida currently works as a futurist and design strategist at Capital One, and Julia is a design strategist and user experience manager at Ancestry.com. In their recently published book, What the Foresight, they describe the mindset, practices and tools leaders need to explore multiple futures, identify their preferred future, and then take steps to create it. In their view, the future’s complexity requires looking at it from multiple viewpoints and angles. Their favorite time period to explore is 10 to 15 years out—close enough to the present to draw connections, but far enough out to innovate and challenge assumptions about what is understood to be true today. Why Americans Are Leaving the City - The Atlantic. It was an April 1st headline, but the statistics were no joke.
"People are fleeing New York at an alarming rate," the New York Post announced. AI: machines think for us. Machines of Loving Grace: The Quest for Common Ground Between Humans and Robots.
By John Markoff. Ecco; 400 pages; $26.99. From #20forecasts: Risks of an algorithm arms race. An algorithm arms race risks a Sorcerer's Apprentice scenario As prediction algorithms are deployed to detect geopolitical and financial discontinuities, they will increasingly be designed to anticipate and outdo one another.
Once these bots are empowered to act upon and adjust our increasingly critical connected systems—such as global markets, smart cities, and social networks—competing programs could create chaos. Financial trading algorithms, for example, have already been implicated as the cause of market "flash crashes". SO WHAT? Chaos caused by competing algorithms could thwart our ultimate goal of fine-tuning systems to avoid potential problems. Strong Signal: Machines Rule Everything Around Me. Will Algorithms Erode Our Decision-Making Skills? : All Tech Considered. PressureUA/Getty Images/iStockphoto Algorithms are embedded into our technological lives, helping accomplish a variety of tasks like making sure that email makes it to your aunt or that you're matched to someone on a dating website who likes the same bands as you.
Truthful Consumerism - TrendWatching. Shocking, yes.
But are you really surprised? This new global moment – and the decline in trust that is a part of it – might have arrived in 2016, but it’s been fueled by deep drivers that have been playing out for years: • Massive inequality. Beyond the headlines: quantifying the economic contributions of migrants. In today’s society, we are defined by our ability to reach every corner of the world in an instant.
We can share ideas and move between geographies, cultures and continents like never before. So it’s not surprising people are on the move. In fact, according to figures from the United Nations, there are now 243 million international migrants, representing roughly 3.4% of the global population. Migration is a major dimension of globalization, but today we live in a time of huge political and economic uncertainty – one where many countries are questioning their national identities and their status within the international community. Automation has totally eliminated just one job since 1950 — Quartz. Will robots take our jobs? Automation will change the labor market, but not in the way you think — Quartz. Unencumbered by the prospect of re-election, outgoing presidents tend to use their final speeches to candidly warn against threats they believe to be metastasizing in society.
For example, George Washington spoke of the ills of hyper-partisanship and excessive debt. Dwight Eisenhower denounced the waxing power of the “military industrial complex.” President Barack Obama singled out an economic peril in his otherwise doggedly hopeful final address in Chicago: “The next wave of economic dislocations won’t come from overseas,” he said.