Category: Growth

AI, Growth, Progress

We Need a New Science of Progress

Colin Henderson

Humanity needs to get better at knowing how to get better. By Patrick Collison and Tyler Cowen July 30, 2019 In 1861, the American scientist and educator William Barton Rogers published a manifesto calling for a new kind of research institution. Recognizing the “daily increasing proofs of the happy influence of scientific culture on the industry and the civilization of the nations,” and the growing importance of what he called “Industrial Arts,” he proposed a new organization dedicated to practical knowledge. He named it the Massachusetts Institute of Technology. Rogers was one of a number of late-19th-century reformers who saw that the United … Continue reading We Need a New Science of Progress

Growth1 Comment

AI Regulation Is Coming. Fortune 500 Companies Are Bracing for Impact.

Colin Henderson

Some 27% of Fortune 500 companies cite AI regulation as a risk in their annual reports Belle LinAug. 27, 2024 at 7:00 am Relevance to Bankwatch Roughly 27% cited AI regulation as a risk in recent filings with the Securities and Exchange Commission, One of the clearest signs yet of how AI rules could affect businesses. The extent of concern across company SEC filings is a clear indication that this risk is real and enough that Boards and Senior Management will reduce their motivation to take on transformative processes associated with AI. We already see that conservatism manifested in AI … Continue reading AI Regulation Is Coming. Fortune 500 Companies Are Bracing for Impact.

Growth

A quick, low-cost solution to Britain’s productivity problem

Colin Henderson

via BBSStudio/ Shutterstock The UK economic outlook has brightened in recent months. Growth has come back more quickly than expected, inflation is running at a third of the levels of a year ago and, last month, the Bank of England cut interest rates for the first time in more than four years. Agreed, the UK has plenty of problems, above all a low rate of productivity growth. Even on this troubled front, we’ve had positive news. A recent study from the Office for National Statistics (ONS) shows a marked improvement in the average quality of UK management. The study, published in May, found that the average … Continue reading A quick, low-cost solution to Britain’s productivity problem

AI, Growth

How Walmart is using AI to improve its business, and save money

Colin Henderson

Relevance to Bankwatch Walmart report on business use of Gen AI to make adjustments to 860 million catalogue items at a speed of 100 times faster than humans. Said another way it would take average employees 100 times longer. This type of scaling is what we hear of in military and intelligence operations. I look forward to hearing more business examples to counter the evolving doubts appearing on the near term productivity from AI. Heads up to The Rundown AI. —-/— ByTomi Kilgore Marketwatch. CEO Doug McMillon said on the post-earnings call with analysts that Walmart was finding “tangible ways” … Continue reading How Walmart is using AI to improve its business, and save money

Growth

Calmer times

Colin Henderson

US futures are pointing to a slightly positive open, following gains from most European equity sectors, as traders await key data this week which will shed light on the health of the US economy and the outlook for the Federal Reserve’s interest rate path. The Cboe volatility index has retreated from a peak last week, which was fueled by concerns the Fed is waiting too long to cut borrowing costs. The yen dropped the most against the dollar among major peers, while treasury yields rose. Oil extended last week’s gains as some top US oil refiners throttle back operations at their facilities, … Continue reading Calmer times

Growth

Building an engineering culture and resilient technology – McKinsey

Colin Henderson

Successful technology leaders partner closely with the business on IT strategy, gen AI use, and product development. https://w.soundcloud.com/player/?url=https%3A//api.soundcloud.com/tracks/1892288598&color=%2307254d&inverse=false&auto_play=false&show_user=true The pace of change in technology has created many opportunities—and raised as many challenges. Overcoming the challenges to grasp the opportunities requires tools and processes that nurture an engineering culture, build stable foundations for resilient technology operations, and manage complex cloud costs. Driving this shift requires modern technology leaders to expand from their traditional role as “guardians of IT” to become closer partners with the business. So says David Pedreira, CTO of Santander Argentina, in this interview with McKinsey’s Jorge Machado, where he … Continue reading Building an engineering culture and resilient technology – McKinsey