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☆ The UK is improving productivity through new technologies and industrial digital transformation
▼ + stars: | 2024-03-11 | by ( Sponsor Post | ) www.businessinsider.com time to read: +7 min

Following its success, the program has been extended to an additional four English regions with the aim of helping the UK recapture its industrial spirit. In 2017, an independent review board led by Jurgen Maier, then CEO of Siemens UK, made a startling proposal: If UK businesses adopted digital technology at a faster rate, the country's industrial productivity could increase by a remarkable 25%. "Long term, our objective is to boost UK growth and productivity, through increasing innovation and adoption of industrial digital technologies across the whole of manufacturing." "Our ambition is for the UK to be the best place in the world to start and grow a manufacturing business," Clark said. Learn more about how the UK can support your manufacturing business.

Persons: Jurgen Maier, Patrick Mroczak, Adam Hodgkinson, Patrick, Jake Wright, Lusso, Wright, Mackinnon, Saunders, Guillermo del Toro, Oscar, Peter Saunders, We've, Michael Clark, Clark Organizations: Siemens, Nutree, Auto, Netflix, Mackinnon, Manufacturing, UK's Department for Business, Trade, Insider Studios, UK Department for Business Locations: North, England

☆ A few U.S.-listed China stocks doubled in price in 2023. Winners to watch
▼ + stars: | 2023-12-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

The top-performing U.S.-listed Chinese stocks for 2023 weren't well-known internet names. But topping PDD were three stocks that basically doubled or more for the year: ACM Research , New Oriental Education and Ehang . Overall market struggled Individual stock gains contrast with a steep decline for Chinese stocks overall. The outperforming mainland Chinese stock index was the Beijing Stock Exchange 50 Index, up by about 15% in 2023, according to Wind. Correction: This story has been updated to reflect that ZKH is listed on the New York Stock Exchange.

Persons: Alibaba, it's, Dong, Goldman Sachs, Ehang, Allen Chang, EHang, Goldman, Hollysys Organizations: PDD Holdings, ACM Research, New Oriental Education, Nvidia, Wings Logistics, United Arab Emirates, Auto, Technologies, Ascendent, Partners, New York Stock Exchange, U.S, CSI, Beijing Stock Locations: China, New, Hong Kong, ., United Arab, Shanghai, Beijing

☆ More US-China take-privates could get feisty
▼ + stars: | 2023-11-14 | by ( Anshuman Daga | ) www.reuters.com time to read: +4 min

It is unusual to see a ruckus over a U.S.-listed Chinese firm. Would-be acquirors of Hollysys include the company’s own management, a buyout firm and a consortium including Chinese state-owned investors. The segment constitutes 65% of Hollysys’ top line, which has risen by over 50% from three years ago. The Hollysys affair suggests shareholders can expect a little bit more as Chinese companies bid farewell to the United States. The $26 per share cash offer represents a 26% premium to the closing price on Nov. 3.

Persons: Janet Yellen, Mark Schiefelbein, Hong, Recco, Kong’s, David Blennerhassett, Hollysys, Una Galani, Thomas Shum Organizations: Treasury, Lifeng, Rights, Reuters, U.S, Nasdaq, Oasis Management, Capital Partners, Quiddity Advisors, ABB, Emerson Electric, VNET, Ascendent Capital Partners, Automation Technologies, Recco Control Technology, Hong, Investment, Thomson Locations: Beijing, China, Rights SINGAPORE, United States, People's Republic, Washington, Hong Kong, U.S, Singapore

☆ Black workers could be disproportionately harmed by AI in the workplace, a study says. They are feeling the heat — and trying to fix it.
▼ + stars: | 2023-11-06 | by ( Aaron Mok | ) www.businessinsider.com time to read: +6 min

Black workers are more afraid of being replaced by AI than white workers, a new survey found. That may be because Black workers have a fraught history with the technology, experts say. Black workers are feeling the pressure, new research suggests. Even before the rise of generative AI, Black workers in low-wage jobs faced a greater risk of being replaced by automation technologies, Goligoski said. "It is insufficient to relegate the responsibility of protecting Black workers from the harms of AI to businesses alone," Hayes said.

Persons: —, Emily Goligoski, Goligoski, Myaisha Hayes, Richard Baldwin, Hayes, " Hayes Organizations: Service, McKinsey, Black, Amazon, Companies

Hollysys offers integrated services for industrial automation and rail transport, according to its website, and its control systems have been used in sensitive areas such as nuclear power stations. In August, a consortium led by Recco Control Technology and Dazheng Group Investment Holdings made an all-cash offer of $25 per share to buy the company. The special committee will discuss the next steps with Recco Control and Dazheng Group (Hong Kong) in response to the offer to acquire the company, while expediting the process to seek "additional serious and compelling offers," Hollysys said in a statement. Deutsche Bank will solicit additional potential offers on behalf of Hollysys, it added. Founded in 1993, Hollysys now has operations in China and eight other countries and regions throughout Asia.

Persons: Hollysys, Kannaki, Anil D'Silva, Susan Fenton Organizations: Hollysys Deutsche Bank, Automation Technologies, Recco Control Technology, Dazheng Group Investment Holdings, Nasdaq, Recco, Dazheng, Deutsche Bank, Dazheng Group, Reuters, U.S, New, Thomson Locations: Beijing, United States, China, Taiwan, Hong Kong, Hollysys, New York, Asia, Bengaluru, Yantoultra, Singapore

☆ Shareholders ask China's Hollysys to set special meeting amid takeover frustration
▼ + stars: | 2023-08-30 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

NEW YORK, Aug 30(Reuters) - Shareholders in China's Hollysys Automation Technologies owning a total 32.2% of the automation control system maker's shares asked the board of directors to set a special shareholder meeting, according to a letter seen by Reuters. Asking for a special meeting is a highly unusual step and signals shareholders' mounting frustration with management of the U.S.-listed company, which has received takeover bids but which has not started a sales process, people familiar with the matter said. A year ago Hollysys management was ready to take the company private at a $1.8 billion valuation, Reuters reported, but nothing has happened since then. Registered shareholders have a statutory right under section 82 of the BVI Business Companies Act (British Virgin Islands) to require the Hollysys board to convene a shareholder meeting. Any shareholder also has a statutory right to apply to the court for an order requiring a shareholder meeting to be held on the basis that it is in the interest of the shareholders that such a meeting be held.

Persons: Conyers, Pearman, Hollysys, Svea Herbst, Bayliss, Louise Heavens Organizations: Automation Technologies, Reuters, Oasis Management, Maso, Company, Technology, . Ltd, Dazheng Group Investment Holdings Company, Act, Svea, Thomson Locations: U.S, United States, Cayman Islands, China, Virgin

☆ AI is going to eliminate way more jobs than anyone realizes
▼ + stars: | 2023-08-14 | by ( Emil Skandul | ) www.businessinsider.com time to read: +16 min

We didn't see the internet coming, but AI is within viewThe adoption of groundbreaking technology is often hard to predict. The World Economic Forum estimated 83 million jobs worldwide would be lost over the next five years because of AI, with 69 million jobs created — that leaves 14 million jobs that will cease to exist during that timeframe. In the US, the knowledge-worker class is estimated to be nearly 100 million workers, one out of three Americans. The small and large compounding effects of productivity growth across many industries are central to the growth trajectory and the long-run effects of AI. This is an alarmingly trivial amount for an economy of $25 trillion GDP and over 150 million workers.

Persons: Goldman Sachs, Joseph Schumpeter, Bill Gates, David Letterman, Paul Krugman, Erik Brynjolfsson, —, Brynjolfsson, Robert Solow, Robert Gordon, provocatively, It's, Gordon, David Autor, Maria Flynn, Flynn, –, Georgia –, Emil Skandul, Tony Blair Organizations: McKinsey, Newsweek, Stanford University, Microsoft, Amazon, Cisco, Economic, International Labor Organization, Organization for Economic Co, Development, MIT, Congressional, Office, Department of Labor, Tony Blair Institute Locations: Washington, Singapore, New York, Georgia

☆ Companies like Uber and Amazon use AI to pay people different wages for the same work, a new study finds
▼ + stars: | 2023-04-13 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Some companies use AI to pay workers "different amount for the same amount of work," per new research. As companies adopt AI, she's concerned these practices could become prevalent in other industries. According to Dubal, companies like Amazon and Uber have "massive data sets" on the contract workers using their delivery or rideshare platforms, including when they work, for how long, and what kind of pay they've taken for past jobs. One Uber driver Dubal interviewed, Domingo, recalled being one ride of short of unlocking a $100 bonus one evening, but then said he experienced 45 minutes of "dead time" in a popular area before he was able to get another ride. Dubal described the alleged variable pay system as the "gamblification of work," a sentiment other gig workers shared.

☆ How AI Is helping to reduce landfill waste
▼ + stars: | 2022-12-22 | by ( Sponsor Post | Created Ibm With Insider Studios | ) www.businessinsider.com time to read: +8 min

But circular economy models can provide smart examples and accessible starting points for how we can work toward avoiding a trashy future, so to speak. For an example of a perfect circular economy, look to nature. Waste management companies, in particular, have an opportunity to minimize landfill waste using artificial intelligence and automation technologies. Evaluating the potential of AI for waste sortingHera personnel analyze waste manually. "The experience with IBM Garage has allowed us to activate a particularly innovative solution in the field of waste collection, selection, and recovery," Zappoli said.

☆ 80% of businesses want chatbots by 2020
▼ + stars: | 2016-12-14 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +5 min

Businesses are beginning to see the benefits of using chatbots for their consumer-facing products, according to a survey by Oracle. And 48% said that they already use automation technology for these business functions, with 40% planning to implement some form of automated technology by 2020. Twenty-nine percent of customer service positions in the US could be automated through chatbots and other tech, according to Public Tableau. Foreseeing immense potential, businesses are starting to invest heavily in the burgeoning bot economy. The report also forecasts the potential annual savings that businesses could realize if chatbots replace some of their customer service and sales reps.

Persons: Laurie Beaver Organizations: Intelligence, Oracle, HP, CNN, Insider Intelligence, Business, Google Locations: France, Netherlands, South Africa

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