The inevitable march toward automation continues, analysts from the McKinsey Global Institute and from Tata Communications wrote in separate reports this week. Artificial intelligence’s growth comes as no surprise — a survey from Narrative Science and the National Business Research Institute conducted earlier this year found that 61 percent of businesses implemented AI in 2017, up from 38 percent in 2016 — but this week’s findings lay out in detail the likely socioeconomic impacts in the coming decade. The McKinsey models predict that 70 percent of companies will adopt at least one form of AI — whether computer vision, natural language, virtual assistants, robotic process automation, or advanced machine learning — by 2020. And Tata found unbridled enthusiasm among business leaders for an AI-dominated future; in a survey of 120 of them, 90 percent said they expect AI to enhance decision-making. McKinsey and Tata both contend … [Read more...] about AI Weekly: Contrary to current fears, AI will create jobs and grow GDP
Gross national golf course
Tony Paul The Detroit News Published 6:12 p.m. UTC Aug 23, 2018 Nobody finished the three-day Michigan PGA Professional Championship with a lower score than Ben Cook. But years from now, when you check out the Gilbert A. Currie Trophy and scroll down to 2018, his name will be nowhere to be found. Because of a decades-old rule that Michigan PGA executives don't recall ever coming into play until this week at Flint Golf Club, Cook was declared ineligible to be the official champion — even though he still got to collect the $6,700 first-place prize and a coveted spot in the 2019 PGA Professional National Championship. Meanwhile, the "official" champion was Lee Houtteman, who finished one stroke back of Cook. "The awards presentation was a new one for me," said Kevin Helm, executive director of the Michigan PGA. "It's a confusing matter." So, what's up with that? Let's try to explain. The Michigan PGA has a rule that applies for three of its four major tournaments — … [Read more...] about Why didn’t lowest scorer win the Michigan PGA Championship?
Aug 13, 1:01 PM EDT Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Hyunjoo Jin 08/12/18 AT 9:21 PM ULSAN, South Korea - When Lee Dong-hee came to Ulsan to work for Hyundai Heavy Industries five years ago, shipyards in the city known as Hyundai Town operated day and night and workers could make triple South Korea’s annual average salary.But the 52-year-old was laid off in January, joining some 27,000 workers and subcontractors who lost their jobs at Hyundai Heavy (009540.KS) between 2015 and 2017 as ship orders plunged.To support their family, Lee’s wife took a minimum wage job at a Hyundai Motor (005380.KS) supplier. His 20-year-old daughter, who entered a Hyundai Heavy-affiliated university hoping to land a job in Ulsan, is now looking for work elsewhere.The Lee family’s fortunes mirror the decline of Ulsan, which is now reeling from Chinese competition, rising labor costs and its over-reliance on Hyundai - … [Read more...] about Empty Shipyard And Suicides As ‘Hyundai Town’ Grapples With Grim Future
Tony Paul The Detroit News Published 4:07 p.m. UTC Jul 10, 2018 As expected, Detroit Golf Club will be the host for the first PGA Tour tournament to be played within the city limits of Detroit. The PGA Tour made it official Tuesday when it released its entire 2018-19 schedule. The Detroit event, sponsored by Quicken Loans, will be called the Rocket Mortgage Classic, and will be played from June 27-30, with CBS and Golf Channel operating as the tournament's television partners. Quicken Loans and the PGA Tour signed a four-year contract to bring a tournament in Detroit, starting in 2019. The News first reported the deal, and the PGA Tour made the official announcement in late May. In late May, the PGA Tour alluded to Detroit Golf Club as the likely host, but that wasn't made official until Tuesday. Detroit Golf Club, a 36-hole facility, opened in 1899 and is located between Woodward and Livernois avenues and south of Seven Mile. The club's North Course is expected to be … [Read more...] about It’s official: Detroit Golf Club to host PGA Tour stop
For Donald Trump, there was the purchase of the $12.6 million Scottish estate and the $79.7 million for golf courses in the United Kingdom, not to mention the $16.2 million for the Northern Virginia Winery. All in cash. For Michael Cohen, it was the lucrative day in 2014 when he sold four Manhattan buildings for $32 million—three times what he’d paid for them less than three years before. Recent days have been filled with a seeming tidal wave of fresh revelations from the spiraling investigation around Donald Trump’s ties to Russia, particularly around suspicious financial transactions involving Trump fixer Michael Cohen, who appears to have used the same shell company LLC to pay hush money to porn star Stormy Daniels, collect six- and seven-figure consulting deals from companies like AT&T and Novartis, and receive payments from a company with close ties to oligarch Viktor Vekselberg. The subtext of many of the recent tales—from Donald Trump’s massive … [Read more...] about If Trump Is Laundering Russian Money, Here’s How It Works