Search Results for: change

Artificial intelligence could add £232 billion to UK GDP by 2030, claims PwC research

Artificial intelligence could add £232 billion to UK GDP by 2030, claims PwC research 0

by • AI, News, Technology

UK GDP could be around 10 percent higher in 2030 as a result of artificial intelligence (AI) – the equivalent of an additional £232 billion, according to new research by PwC. This makes AI the biggest commercial opportunity in today’s fast-changing economy, according to the report’s authors. The research shows that the majority of the UK’s economic gains over the period to 2030 will come from increasing consumer demand resulting from AI driving a greater choice of products, increased personalisation of those products and making them more affordable over time. Labour productivity improvements will also drive GDP gains, but to a lesser extent. PwC’s research notes that the benefits from labour productivity growth will be felt first, with the increased consumption-led benefits from AI-enhanced products coming through later as more of them come onto the market. As this happens, competition within the AI goods market will increase dramatically, leading to future increases in the value of goods to consumers and therefore the amount people spend on them.

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Largest trial of driverless vehicles takes to the streets of two cities in the UK

Largest trial of driverless vehicles takes to the streets of two cities in the UK 0

by • AI, News, Technology

The UK’s largest trial of connected and autonomous vehicle technology has been given the green light to move out onto city streets, after a UK consortium completed its final set of private test track demonstrations. Project partners Jaguar Land Rover, Ford and Tata Motors European Technical Centre (TMETC) are set to trial vehicles on the roads of Milton Keynes and Coventry, as Jaguar Land Rover announced the latest version of their automated, driverless vehicle technology. The three vehicle manufacturers are taking part in the £20 million UK Autodrive research and development project, jointly funded by government and industry. UK Autodrive claims to be the first project in the UK to showcase the benefits of having cars that can “talk” to each other across multiple makes of car. Three of the seven key features of connected cars (see full list below) will be trialled during the three-year programme.

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CoreNet Global to explore ‘Transcending Boundaries’ at EMEA Summit

CoreNet Global to explore ‘Transcending Boundaries’ at EMEA Summit 0

by • Company news, Events, Insight promotion

The CoreNet Global EMEA Summit will return to London in September 2017 for the fifth time, bringing together leading figures from the corporate real estate (CRE) profession to discuss how CRE can add value and be a true strategic advisor in today’s dynamic, rapidly changing environment. Under the theme Blurring the Lines: Transcending Boundaries, the summit will explore a range of shifts that demand transformational thinking and integrated solutions. In a world of continual and disruptive change, the summit will assist in identifying how CRE professionals can transcend traditional boundaries to uncover new opportunities. The three-day event will provide a wide variety of engaging and educational sessions, including keynote presentations from some of the profession’s most innovative thinkers, interactive seminars where attendees will be able to test new technologies and learn from one another’s experiences, networking sessions and dedicated teaching workshops.

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Study suggests ways staff could work fewer hours while raising productivity

Study suggests ways staff could work fewer hours while raising productivity 0

by • Flexible working, News, Wellbeing, Workplace

Employers can implement simple changes to reduce fatigue while raising worker productivity, a new academic study suggests. Research published by Manel Baucells from the University of Virginia Darden School of Business offers some useful insights for today’s workforce in overcoming fatigue while at the same time raising productivity. The paper “It is time to get some rest”, co-authored with Lin Zhao of the Chinese Academy of Sciences in Beijing, looks at how workers’ efforts can be best distributed throughout the day. The study’s implications affect not only our health and quality of life, but business and the economy too. “The bottom line is, when it comes to rest and managing fatigue, the incentives of companies and workers are perfectly aligned: Reducing fatigue increases productivity, lowers the cost of providing effort, increasing work satisfaction, lowering turnover and absenteeism, and ultimately increasing profits,” said Baucell. “Google seems to have learned this lesson and makes the work environment pleasant, promoting fun distractions, while at the same time encouraging long work hours.”

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Neuroscience: the next great source of competitive advantage

Neuroscience: the next great source of competitive advantage 0

by • Facilities management, Features, Knowledge, Premium Content, Work&Place, Workplace design

The average worker is interrupted or distracted every three minutes and it takes them fully twenty-three minutes to return to a task after being interrupted. Office workers are overwhelmed by distractions, due mainly to a lack of understanding of how to manage attention. Distractions and the inability to focus negatively affects productivity, engagement, wellbeing and overall performance in organisations. We long to be more effective, but the harder we try, the more tired our brains become. Attention meltdowns are epidemic because workers do not understand what attention is, how to manage it or have access to the best places to support their tasks. In workplaces throughout the world scenarios of near constant distraction have become the norm, to such an extent that often people do not even feel compelled to comment on them and their consequences.

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Many business owners are baffled by workplace law jargon

Many business owners are baffled by workplace law jargon 0

by • Legal news, News, Workplace

A survey of 250 business owners by Attest market research for HR and employment law advisors Peninsula found that 54 percent of business owners were baffled by workplace law jargon with many thinking the human resource management method – Bradford factor – stood for the best singer in Bradford instead of a means of measuring worker absenteeism. 44 percent thought TUPE meant total under taxation of parliament expenses not transfer of undertaking regulation, 30 percent thought EAT meant employment advice team not employment appeal tribunal. Meanwhile the Conservatives’ election slogan ‘strong and stable’ clearly left a huge mark on people’s thoughts as a number of business owners thought that ‘SSP’ stood for ‘strong and stable professionalism’ instead of the correct meaning of ‘statutory sick pay.’

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Report sets out costliest cities for mobile workforce of multinationals

Report sets out costliest cities for mobile workforce of multinationals 0

by • News

In a rapidly changing world, mobility has become a core component of companies’ global talent strategy and as a result, multinational organisations are carefully assessing the cost of packages for their international mobile workforce, claims a new report which sets out the costs of living in the world’s major cities. Mercer’s 23rd annual Cost of Living Survey finds that factors like instability of housing markets and inflation for goods and services contribute to the overall cost of doing business in today’s global environment. Mercer’s 2017 Cost of Living Survey finds Asian and European cities – particularly Hong Kong (2), Tokyo (3), Zurich (4), and Singapore (5) – top the list of most expensive cities for expatriates. The costliest city, driven by cost of goods and security, is Luanda (1), the capital of Angola. Other cities appearing in the top 10 of Mercer’s costliest cities for expatriates are Seoul (6), Geneva (7), Shanghai (8), New York City (9), and Bern (10). The world’s least expensive cities for expatriates, according to Mercer’s survey, are Tunis (209), Bishkek (208), and Skopje (206).

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The self employed have to rely on each other as government offers almost no support

The self employed have to rely on each other as government offers almost no support 0

by • Flexible working, News

The self employed are turning to one another for business and financial support, according to new analysis by the RSA think-tank. Commissioned by the Federation of Small Business (FSB) to examine how self-employed workers might manage the risks they face, the RSA report claims that growing numbers of workers are turning to collective sick-pay funds to manage ill health, cash pooling schemes to deal with late payments and micro-loan services to plug gaps in bank finance.  The RSA’s report, The Self Organising Self Employed concludes that, to date, both the state and the market have struggled to keep pace with the rising numbers of the self employed. Although successive governments have been vocal in their admiration of people who strike it out alone, holding up their attributes as ‘self-starters’ and ‘strivers’, this had led to a ‘non-interventionist, hands-off policy agenda, with the self employed broadly left to their own devices’.

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Extending the length of working lives could boost UK GDP by £80 billion

Extending the length of working lives could boost UK GDP by £80 billion 0

by • News, Wellbeing, Workplace

The UK could boost its GDP by around 4.2 percent (around £80 billion at today’s values) if the employment rate of workers aged over 55 could match that of Sweden, the highest performing EU country, according to a new PwC analysis comparing the employment of older workers across 34 OECD countries. There is a 12 percentage point gap between the employment rates of workers aged 55-64  in the UK and Sweden. PwC’s Golden Age Index is a weighted average of indicators – including employment, earnings and training – that reflect the labour market impact of workers aged over 55. The UK has remained middling in the rankings since 2003, falling by one place from 18th in 2014 from 19th in 2015. The report suggests that extending working lives could have a transformational effect on the economy.

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As UK heatwave continues, Acas issues hot weather tips for employers

As UK heatwave continues, Acas issues hot weather tips for employers 0

by • Facilities management, Legal news, News, Wellbeing, Workplace

With the Met Office predicting that the hot weather looks set to continue for much of this week, workplace expert Acas, has offered some tips to help employers manage workplace challenges due to the hot weather. From a legal perspective, it advises that workplace temperatures should be reasonable as the Health & Safety Executive (HSE) has stated that the temperature in all workplaces inside buildings must be reasonable. The HSE offers advice on how to carry out a thermal comfort risk assessment if employees complain about the temperature. Acas Senior Guidance Adviser, John Palmer, said: “Today’s sizzling weather may be ideal for the beach but staff getting into work on one of the hottest days of the year may not feel the same way. Certain workers may be adversely affected by the extreme heat such as pregnant women, elderly employees and Muslim staff that are currently fasting during Ramadan. Our advice offers some top tips for employers to help ensure their businesses remain productive during the heat wave whilst keeping staff happy too.”

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Lack of digital adoption is the greatest social challenge we face, claims new report

Lack of digital adoption is the greatest social challenge we face, claims new report 0

by • News, Public Sector, Technology

More than 50 percent of organisations claim existing processes are preventing digital adoption, claims a new report from Agilisys, a tech firm focussed on projects in the public sector.  The ‘State of the Digital Nation’ draws on findings from a survey of over 400 individuals from private and public sector organisations, who shared the progress they are making on their ‘digital transformation journeys’. The report, based on the key findings of a survey conducted by online publication Digital by Default News, considers the role of digital inclusion in the adoption of digital public services. The survey revealed that 40 percent of respondents had a clear digital vision and were already well on their way to realising the benefits. The majority (65 percent) of those surveyed considered digital one of their top organisational priorities.

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Businesses sound the alarm over Brexit as negotiations get under way

Businesses sound the alarm over Brexit as negotiations get under way 0

by • News, Workplace

The end of free movement of people from the EU will damage UK businesses and public service delivery unless post Brexit immigration policies take account of the need for both skilled and unskilled labour from the EU. This is a key message in new research from the CIPD, the professional body for HR and people development, and the National Institute of Economic and Social Research (NIESR). It also calls on businesses to broaden their recruitment and people development strategies to ensure they are doing all they can to attract and develop UK born workers, and highlights the need for significant changes to Government skills policy. The study joins a growing chorus of business leaders appealing for a rational approach to Brexit negotiations. Britain’s top business lobby groups have already come together to demand open-ended access to the European single market for as long as it takes to seal a final Brexit deal.

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