Trade & Investment Newsletter 23 - 29 December 2024
BULTISAD-Bulgar-Türk Ticaret ve Sanayi Odas? -Bulgarian-Turkish Chamber of Commerce
Enhancing trade and investment relations between Turkiye and Bulgaria
14 quotes for business and management from 2024
From climate leadership and robotics to insights from a Nobel laureate, here are the quotes that most resonated with our readers this year.
“People learn best from experience and experiment. But with climate change, experience comes too late, and experimentation is impossible,” said John Sterman, an MIT Sloan professor of management and faculty co-director of the initiative. “We only have one planet. We can’t run a randomized controlled trial to compare a planet with fossil fuels to one that doesn’t [have them] and see what happens after a few hundred years.”
“Very few people will disagree with the statement that everyone deserves a fair shake. But when you actually start changing policy and tying DEI progress to budgets, the mood within a company shifts perceptibly,” writes MIT Sloan lecturer Malia Lazu in her new book. “All of a sudden, fairness feels unfair and is now a breeding ground for conflict.”
MIT Institute Professor Daron Acemoglu, MIT Sloan professor Simon Johnson, and University of Chicago professor James Robinson shared the 2024 Nobel Memorial Prize in Economic Sciences for their research on the differences in prosperity between nations. “Earnings for people with a lot of education have gone up since the 1960s in real terms, but not for people in the middle. And people with less education or who didn't go to college, in real terms, may actually be earning less than they did in the 1960s,” Johnson said.
“Intelligent machines surpass us in some areas,” writes Daniela Rus in the introduction to her new book, “The Heart and the Chip: Our Bright Future With Robots,” which she co-wrote with science writer Gregory Mone. “Thanks to their powerful chips, machines are capable of churning through and processing massive volumes of data at speeds people could never approach.”
“We’re not here for knowledge for knowledge’s sake; we’re here to apply that knowledge to the world’s greatest challenges,” said Trust Center managing director Bill Aulet during the showcase.
This year’s MIT delta v Demo Day showcased startups targeting workplace burnout, streamlining pet adoption, and using AI to simplify the immigration application process.
In a recent episode of the Trust the Process podcast, hosted by @eshipmit, Ethan Mollick, SM ’04, PhD ’10, suggested that entrepreneurs should keep a few key points in mind as they try out generative AI. Mollick is an associate professor at the University of Pennsylvania who studies AI, innovation, and startups.
In a recent Q&A, we asked Stefania Mallett, SM ’77, what she would tell her younger self about being a woman in her industry, given what she knows now.“Stop being so cautious, stop being afraid; get in there and figure it out as you go,” she said. “Bring all your knowledge, wits, and courage, but don’t only tackle things that you already know how to do.”
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Nick van der Meulen, a research scientist with @mitcisr, recommends showing these individuals what upskilling can mean for them, even if they’re currently effective in their roles and performing well. Specific examples of people who have made exciting career moves can go a long way.
During a recent webinar with MIT Sloan’s George Westerman, Tom Peck, an executive vice president and chief information and digital officer at food service company Sysco, made several recommendations for companies looking to evolve their use of generative AI based on their experience with the technology.
Protecting our environment from climate change and pollution is a complex global challenge that requires buy-in from leaders around the world and across industries. This Earth Day, MIT Sloan reflects on the ideas and individuals making a difference.
In his new book, “The Skill Code: How to Save Human Ability in an Age of Intelligent Machines,” Matt Beane, SM ’14, PhD ’17, looks at how technologies such as robots and AI can interfere with old ways of learning, with potentially devastating consequence.
“People need to grow and thrive in their careers,” said MIT Sloan senior lecturer George Westerman. “Digital transformation is happening everywhere. One reason people who switch jobs are doing so is because they’re not getting development opportunities. That is a real loss for companies.”
“I am constantly looking for new ideas, especially ones that contradict my own thinking,” said economist Claudia Sahm in a recent Q&A when we asked her how she keeps track of new ideas. “As someone who is constantly asked about where the economy is headed or what are the best fiscal or monetary policies, I need to understand how I could be wrong.”
“There is no better secret to success than failure,” she said. “Failure takes you out of your comfort zone. My biggest failures were extremely tough to digest in the short term. But they armed me with a sense of freedom to change things and try new directions that I wouldn’t have considered before.”
Georgia Garinois-Melenikiotou, SM ’84