News from The Wharton School at the University of Pennsylvania
“Serious concerns have arisen in the past week over how social media firms guard the privacy of their users’ personal data, and how the analytics of such data can influence voter preferences and turnout. Those worries follow a whistleblower’s account to The Observer newspaper in the U.K. about how Cambridge Analytica, a data analytics firm with offices in London and New York City, had unauthorized access to more than 50 million Facebook profiles as it micro-targeted voters to benefit Donald Trump in the 2016 U.S. presidential election.
“In the fallout, Facebook faces its toughest test on privacy safeguards, and its founder and CEO, Mark Zuckerberg, has been summoned by MPs in the U.K.He faces similar calls from the U.S. Congress and from India, with revelations that Cambridge Analytica worked to influence the 2016 Brexit referendum and elections in India, Nigeria and other countries as well.
“U.S. special counsel Robert Mueller is already examining Cambridge Analytica’s ties with the Trump campaign as part of his probe into Russia’s alleged meddling in the 2016 presidential election. Significantly, U.S. billionaire and conservative fundraiser Robert Mercer had helped found Cambridge Analytica with a $15 million investment, and he recruited former Trump advisor Steve Bannon, who has since left the firm. The firm initially sought to steer voters towards presidential candidate Ted Cruz, and after he dropped out of the race, it redirected its efforts to help the Trump campaign.”
Who Suffers In A Trade War?
News from INSEAD
“When Donald Trump was elected President of the United States, business leaders assured themselves that his nationalist rhetoric was just rhetoric. Wise talking heads trotted out the phrase ‘Take Trump seriously, but not literally.’ They said his threats to revoke NAFTA trigger protectionist measures and renegotiate and abandon trade agreements such as the TPP and KORUS were all empty threats.
“Nearly a year ago, I warned that we should take Trump literally and seriously. Most U.S. presidents are acutely sensitive to the needs of their base, because its turnout can mean the difference between winning and losing, so presidents do, in fact, keep most of their promises. One of Trump’s first acts as president was to pull out of the 12-nation trade agreement, the Trans Pacific Partnership (TPP). Was this the strangled squeak of the canary in the coal mine or purely symbolic, since the deal had not been ratified by a divided U.S. Congress? Other evidence continued to accumulate – today, both NAFTA and KORUS are being renegotiated. The last chirp, sticking to the poor rapidly dying canary metaphor, is the newly imposed tariffs of 10 percent on aluminium and 25 percent on steel signed by Trump last week and a fresh announcement of US$60 billion of tariffs on a range of products exported from China.”
Texas Ex Wins $600,000 And Makes ‘Pour Choices’ On Sixth Street
“A McCombs School of Business alumnus is making ‘Pour Choices’ on Sixth Street, opening a bar with the $593,173 grand prize he won in a poker tournament.
“Jay Lee and his three business partners opened Pour Choices two weeks ago and will hold a grand opening celebration on Friday.
“Born and raised in Austin, Lee said he has been helping his parents with their own business since graduating in 2012 with a marketing degree, delivering Chinese food for their restaurant and managing social media.”
Why Artificial Intelligence Isn’t A Sure Thing To Increase Productivity
News from Harvard Business School
“Thinking about the fast-approaching era of artificial intelligence, employers rejoice in the increases to productivity such tools could bring, while workers are more likely to calculate the time left before R2-D2 takes over their jobs.
“’Jacques Bughin and co-researchers estimate that in the future, 50 percent of all tasks currently done by humans could be done by machine learning and artificial intelligence,’ says Prithwiraj (Raj) Choudhury, assistant professor at Harvard Business School. Overall, that could translate into a bump in global productivity by 1 percent or more.
“But it turns out that long before robots replace workers en masse, if ever, workers will be using AI-based tools to do work, as is already seen with radiologists who employ such tools to interpret X-rays and lawyers who turn to machine learning to dig out past cases that set a precedent for legal arguments.”
Vanderbilt Announces Launch Of Marketing Hub
News from Vanderbilt University Owen Graduate School of Management
“The Vanderbilt Marketing Hub, an initiative led by Vanderbilt Business marketing faculty in conjunction with a student advisory board, has formally launched their digital headquarters.
“The Hub is built on a three-pronged mission of education, engagement, and connection. Tailored to alumni, current students, and prospective students, it offers information on marketing-related programming, research, and career development that provides a holistic view of marketing ecosystem at Management Hall.
“’The Vanderbilt Marketing Hub is designed to service Vanderbilt scholars — past, present and future — who are interested in understanding the ever-evolving role of marketing within the organization,’ says Kelly Goldsmith, Associate Professor of Marketing.”
Claire Traweek, Sam Kim, Jessy Lin, Neil Gohklay, and Juliet Wanyiri pose with two of their mentors after winning second place in the migrants and refugees category as part of the Vatican’s first-ever hackathon. Photo courtesy of the MIT Innovation Initiative
A Low-Tech Solution For High-Impact Health Care
News from MIT Sloan School of Management
“Over 17 million people around the world are forced to flee their homes by conflict or persecution each year. After enduring the long and treacherous passage to safety, many refugees arrive at settlement camps suffering from malnutrition and dehydration and require medical attention on site.
“Most ailments are easily treatable if properly diagnosed, but communicating across languages and cultures can be difficult. Patients often struggle to convey their symptoms, and doctors worry they may be missing crucial information. To complicate matters, doctors jot patients’ medical notes on paper, which can result in incomplete and illegible information being recorded. Further, each time a refugee moves to another camp, a new record has to be started for the individual, making it hard to maintain a consistent medical history over time.
“There’s no shortage of apps designed to address the current refugee crisis. Rather than impose an entirely new system or technology, a team of MIT undergraduate, graduate, and Ph.D. students from multiple disciplines set out to develop a solution that recognizes and supports existing workflows that also helps overcome time, language, and cultural barriers in doctor-patient interactions to improve overall medical care for refugees.”
A young woman participating in the Mastercard Foundation Hanga Ahazaza initiative gains hands-on training
Cornell SC Johnson To Train Young Rwandans In Hospitality Industry
News from Cornell University SC Johnson College of Business
“The Cornell SC Johnson College of Business has joined the Mastercard Foundation Hanga Ahazaza initiative, which is dedicated to increasing economic opportunities for youth in Rwanda while enhancing access to financial services and training so small tourism and hospitality sector enterprises can expand.
“Cornell SC Johnson has been awarded a five-year partnership to train young Rwandans age 16-35 in the hospitality industry. In collaboration with eCornell and Cornell SC Johnson’s executive education program, this new initiative will focus on various content areas, including hotel operations, service, leadership, financial management, marketing and revenue management, which will be taught in a combination of online courses and live, virtual synchronous events with faculty.”
A Tennessee warbler
Northwestern Takes Action To Make Buildings Bird-Friendly
News from Northwestern University Kellogg School of Management
“Working with the local community and experts from American Bird Conservancy, Northwestern University is using state-of-the-art solutions to keep birds from dying in collisions with glass walls and windows.
“The measures put Northwestern in the vanguard of a growing movement among U.S. colleges and universities to implement practical, effective and cost-efficient strategies to reduce bird strikes, which kill up to 1 billion birds a year in the United States alone.
“Unlike humans, birds do not understand the concept of glass as a transparent barrier. They take glass reflections as open landscapes and, thinking they have a clear path, crash into a solid surface.”
Georgetown’s Language Landscape Promotes Multiculturalism
News from Georgetown University McDonough School of Business
“Since Georgetown University’s founding in 1789, the school has encouraged students and faculty members to broaden their worldviews and dedicate themselves to others, regardless of cultural and linguistic differences.
“Back then, the university offered language courses in Spanish, French and English for nonnative speakers, even publishing a pamphlet for prospective students in each of those three languages in 1789 to reflect the university’s multilingual demographic.
“From John Carroll to Fr. Edmund Walsh, S.J., Georgetown’s leaders have argued that being people for others requires members of the Georgetown community to cultivate an understanding of others by traversing linguistic barriers.”
Kickstart Your Job Search: How Neuroscience Can Help
News from The Wharton School
“The modern job search is fraught with a number of interpersonal and technological land mines, so much so that most of us have given up any notion about a hiring decision coming down to simply who is the most qualified candidate for the position.
“So, what’s a job seeker to do to gain an edge?
“You can start by looking to the brain.
“During a recent segment on Career Talk, which airs on Wharton Business Radio on SiriusXM channel 111, Wharton marketing professor Michael Platt talked with host Dawn Graham, director of career management for Wharton’s executive MBA program, about how neuroscience can shed light on the best way to approach major career decisions.”
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