Facebook bot platform to transform entire industries

Facebook wants businesses to adopt bots to communicate with their customers on its Messenger service, in the hope that opening up its artificial intelligence tools to companies will transform industries. By deploying bots within Facebook Messenger, people will be able to communicate with companies without having to remember extra usernames and passwords, and with the context of their previous interactions recalled by the software. Industries such as news and music have already been disrupted by social media, which has in many cases disintermediated their relationship with customers. If the new bots are successful, more industries including retail and online travel, could find themselves increasingly dependent on Facebook Messenger.

Emotional and creative skills may be more robot-proof in the next wave of automation.

Oxford university’s Carl Benedikt Frey and Michael Osborne say almost half of the jobs in the US are at high risk from computerisation in the next two decades, together with two-thirds of those in India and three-quarters in China. The new phrase is “EQ”, which stands for emotional quotient (or emotional intelligence). “The high-skill, high-pay jobs of the future may involve skills better measured by EQs than IQs

Decline in global trade may be a long term structural trend

Until 2007 international trade had been growing at twice the rate of global GDP. Falling traffic had been explained as a consequence the financial crash and then the slowing of growth in the Chinese economy. Now some experts perceive a permanent shift in the fundamentals driving globalization Economists at the McKinsey Global Institute see increased automation and the uptake of 3D printing as factors that may be reducing demand for international trade in physical goods.

Threats to Samsung and Apple in China market from domestic competitors

Charles Arthur reports on the market for smartphones in China. For the iPhone China has recently been the market with the most potential for growth, accounting for one third of global smartphone sales. However the rapid market expansion of Chinese firms including Huawei, Xiaomi, Vivo and Oppo have already pushed Samsung out of the top 5. Samsung was more vulnerable to competition on price from handsets using Android software. Apple with its iOS software and distribution through China Mobile has so far maintained its premium pricing. However with declining growth in China, the demand for prestigious high cost Apple products may also suffer due to the reduced spending power of luxury end consumers in China.

My Final Ever Blog Post

After two wonderful years at Middlesex I am moving on to new pastures. I hope the readers of this blog and the students i have met and taught have enjoyed the experience as much as I have. And best of luck to my successor and whoever takes over the blog.

Some final new round-ups. The US Box Office has seen film going records shattered and certain to be helped by the boost of Star Wars. This video focusing on stressors for the emergent markets in light of low oil prices and a possibly raise in the Federal Reserve rate. In contrast, this video looks at the reaction of Business to the climate change deal agreed in Paris. Chicago Booth business school is collaborating with Ballet dancers and finally a piece from Forbes on what Entrepreneurs should do during the holiday season. FInally, Merry Christmas, thank you and best wishes for all your futures.

Nearly made the end of term!

I am sure you are all feeling the pressure and looking forward to the end of term and on that note I have included some fun reading recommendations towards the end of this blog post. First up a piece on the Climate Change meeting in Paris, please do explore the Financial Times very good coverage of this hugely important summit. Relatedly, here is yet another piece looking at the on-going emissions and corruption scandal at Volkswagen which continues to run and run. Is Yahoo Marissa Meyer's 'difficult second album'cir and is this problem common across the sector? Now two interesting videos, one of the history of Bitcoin and one on the growing challenges faced by the Banks.

On a more light note, this is an interesting piece from The Harvard Business Review on what kind of thinker are you and why that might be as useful to know as your personality type. Some Christmas reading recommendations from Bloomberg and finally the Financial Times weekly quiz. Have a good weekend!

Lower Banking Tax, Digital Disruption and Falls in UK Prices.

Excluding the impact of levies the Banks have paid the lowest proportion of tax this year since 2008. Worldpay are aiming to fill a gap left by high street banks in providing loans to small business. This is a fascinating piece about investing in technology companies and when and when people lose money. There has been a record fall in UK shop prices and this video explores that fact and finally a piece looking at digital disruption and the online estates agent Purple Bricks.