Search Results for: economic

Potential of AI is putting a smile on the faces of optimistic CEOs

Potential of AI is putting a smile on the faces of optimistic CEOs

by • AI, Business, News, Technology

CEOs are embracing artificial intelligence (AI) and investing in reskilling their people to ensure they have the capabilities to successfully exploit new technologies. The CEOs of the world’s largest companies are increasingly optimistic about future growth, with 66 percent highly positive about the global outlook over the next three to five years. This is the headline finding of the second annual Arthur D. Little (ADL) CEO Insights Study, which was launched today. The study found that whatever their strategy or sector, global CEOs are increasing their growth investments. Artificial intelligence (AI) is seen as crucial to growth, with 96 percent of CEOs having already deployed AI in some form, although, demonstrating the early stages of its adoption, just 13 percent have a compelling, enterprise-wide AI strategy in place. (more…)

Government scheme will see thousands more people train in technologies like AI

Government scheme will see thousands more people train in technologies like AI

by • AI, News, Technology

Thousands of individuals will receive training and qualifications in cutting-edge technologies like AI as part of new government initiativesThousands of individuals across the UK will receive training and qualifications in cutting-edge technologies like artificial intelligence (AI) as part of new government initiatives. Additionally, other transformative fields such as medicine, 6G, and quantum computing are also part of this initiative. The driving force behind the move is a substantial investment of over £1.1 billion aimed at enhancing the country’s skill base. (more…)

Real estate sector is at a pivot point worldwide, report claims

Real estate sector is at a pivot point worldwide, report claims

by • News, Property

Despite continued economic uncertainty around the world, there is a strong belief that the global real estate industry is at a ‘pivot point’, with improving prospects ahead for renewed investment activity, according to the latest Emerging Trends in Real Estate Global Outlook 2024 from PwC and the Urban Land Institute (ULI). The report amalgamates three regional reports, which canvassed thousands of real estate leaders across Europe, the United States and Asia Pacific, and is a key indicator of sentiment towards the global real estate investment and development outlook across the globe. (more…)

Is a simple thank you too much to ask for?

Is a simple thank you too much to ask for?

by • Comment

The rate of change in business today is accelerating, whether that’s technological change, customer demands, economic uncertainty – all are complex challenges. As a result, employees have to be more resourceful, hard-working and dedicated in order to keep up. But according to McKinsey, over half of our employees are not engaged. Productivity is stagnant, Quiet Quitting is rife and employees feel a sense of not being connected to anything. (more…)

The sector responds to the Spring Budget

The sector responds to the Spring Budget

by • Business, News

Yesterday’s Spring Budget included a number of announcements that affect the various people, place and technology professions in the UK. These include a cut in National Insurance, pension fund reforms, support for working parents, AI, helping people back in to work and more. You can see the Government’s own summary here. The various industry sectors have been quick to respond to the announcements. You can see what some people have had to say below, in no particular order. (more…)

There never was a new normal

There never was a new normal

by • Comment, Flexible working, Wellbeing

Our strength will come in admitting that the ‘new normal’ was a mirage. It’s time that we all stopped focusing so hard on trying to reach it.Four years ago this month, we were all given our first ‘work from home’ mandate. A clear, unambiguous instruction from the UK government that, in the grip of a quickly spreading global pandemic, we should all work from home where possible. And amid the biggest seismic shift of our lifetime, it was an easy instruction to follow. Hunker down and wait patiently until we find a ‘new normal.’ But four years on, the question remains – are we nearly there yet? Are we ever going to find a ’new normal’? (more…)

Hybrid working helps women into senior management roles

Hybrid working helps women into senior management roles

by • Flexible working, News

The widespread adoption of hybrid working has opened the door for women to apply for senior positions within their companiesThe widespread adoption of hybrid working has opened the door for women to apply for senior positions within their companies, according to a new report released ahead of International Women’s Day. IWG’s 2024 report Advancing Equality: Women in the Hybrid Workplace, based on research among more than 1,000 female hybrid workers, found that flexible working had allowed over half (53 percent) to pursue promotions or apply for more senior roles  – which, in an encouraging move for advancing equality, rises to more than three in five (61 percent) of women from minority backgrounds. For almost three quarters (73 percent) of women in minority groups, flexible working has opened up new opportunities that they would not have had otherwise. (more…)

People have lost trust in AI already, and aren’t keen on innovation more generally

People have lost trust in AI already, and aren’t keen on innovation more generally

by • AI, News, Technology

The Edelman Trust Barometer claims to expose a rift that has become a factor in the polarisation of societies on the issues of AI, innovationThe 2024 edition of the Edelman Trust Barometer claims to expose a rift on the subjects of AI and innovation that has become a new factor in the polarisation of societies. Respondents, by nearly a two-to-one margin, feel innovation is being poorly managed; this is true across age groups, income levels, and gender, and in both developed and developing countries people are more likely to say innovation is poorly managed than well managed. Innovations have also become politicized, especially in Western democracies where right leaning individuals are far more likely than those on the left to reject them; the biggest differences between those on the right and left are in the U.S. (41 points), Australia (23 points), Germany (20 points), and Canada (18 points). (more…)

If you want to increase productivity, let an algorithm decide the incentives

If you want to increase productivity, let an algorithm decide the incentives

by • News, Workplace

Targeting workers with different incentive schemes based on their individual characteristics leads to greater performance and increased productivity and is much more effective than a one size fits all approachTargeting workers with different incentive schemes based on their individual characteristics leads to greater performance and increased productivity and is much more effective than a one size fits all approach, according to new research from Frankfurt School of Finance & Management and published in the Management Science Journal. To study the impact of targeted incentive schemes on performance, Timo Vogelsang, Professor of Accounting at Frankfurt School of Finance & Management, alongside colleagues from University of Cologne, ran two large-scale experiments with more than 12,000 participants on Amazon MTurk. (more…)

Major built environment institutes renew joint pledge to tackle global instability as cities boom 

Major built environment institutes renew joint pledge to tackle global instability as cities boom 

by • Cities, Company news, Environment

major built environment professional institutes, including architects, planners, structural engineers and landscape practitioners, have renewed their joint pledge to collaborate to tackle urgent global challengesWith almost 70 percent of the world’s population predicted to live in cities by 2050, major built environment professional institutes, including architects, planners, structural engineers and landscape practitioners, have renewed their joint pledge to collaborate to tackle urgent global challenges. Members of the UK Built Environment Advisory Group (UKBEAG), a group first launched in 2016 comprising the Royal Institute of British Architects (RIBA), the Royal Town Planning Institute (RTPI), the Institution of Structural Engineers (IStructE) and the Landscape Institute (LI), have committed to work together for at least another 5 years.  (more…)

New plans for public sector productivity ‘will deliver up to £1.8 billion worth of benefits by 2029’

New plans for public sector productivity ‘will deliver up to £1.8 billion worth of benefits by 2029’

by • News, Public Sector

The UK’s Chancellor of the Exchequer Jeremy Hunt has outlined plans to improve public sector productivity that the government claims will deliver up to £1.8 billion worth of benefits by 2029.The UK’s Chancellor of the Exchequer Jeremy Hunt has outlined plans to improve public sector productivity that the government claims will deliver up to £1.8 billion worth of benefits by 2029. The statement focuses on public sector productivity because the government says it is “an alternative to accepting an ever-increasing bill for public services as [it] sticks to its plan to move on from the high spending and high tax approach that was necessary to get the UK through the shocks of Covid and Russia’s invasion of Ukraine. A new focus is needed on the long-term decisions required to strengthen the economy and give people the opportunity to build a wealthier, more secure life for themselves and their family.” (more…)

People overestimate their ability to handle unknown situations

People overestimate their ability to handle unknown situations

by • Business, News

New research suggests that people tend to be overconfident in their ability to handle unknown situations, which has implications for business and entrepreneurship. A team of international researchers has shared findings on what they describe as overconfident behaviour, which can lead to negative outcomes in business and personal decision-making. Professor Mohammed Abdellaoui, lead researcher and professor at HEC Paris, and colleagues including Han Bleichrodt from the University of Alicante, Spain, and Cédric Gutierrez from Bocconi University in Italy, revealed that our own attitudes to uncertainty play a role in how we assess our own abilities. (more…)

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