Heather Stewart, Joint Political Editor of the Guardian (British Newspaper)
Global economy will be transformed over next 20 years at risk of growing inequality, say analysts
A “robot revolution” will transform the global economy over the next 20 years, cutting the costs of doing business but exacerbating social inequality, as machines take over everything from caring for the elderly to flipping burgers, according to a new study.
As well as robots performing manual jobs, such as hovering the living room or assembling machine parts, the development of artificial intelligence means computers are increasingly able to “think”, performing analytical tasks once seen as requiring human judgment.
Dr. John Psarouthakis, Executive Editor www.BusinessThinker.com; Distinguished Visiting Fellow, Institute for Advanced Studies in the Humanities, University of Edinburgh, Scotland (2011-2013).
CV details: click on http://bit.ly/2sXvygl
Unfortunately, we have entered a century in which many of the old cultures and societies that have been successful under the old technologies and cultural norms have fallen by the wayside. We witness already dramatic shifts in economic wealth, both within and across nation states.
There is still some debate about how the new changes in technology will affect some of the more prevalent twentieth century ideologies. For example, will the new technologies and associated cultural changes support or retard the growth of the liberal democracies? Or, will the vision of George Orwell be realized, with a technology-induced return to a world-wide authoritarian state? Obviously, all the data are not in, and will not be in for another seventy-five years or so. The early returns, however, suggest that many of the new technologies seem to enforce democratic values and practices. For example, one of the critical features of using information technologies and computerized systems is the rapid and transparent exchange of information across settings, cities, and nations. This is highly compatible with democratic systems and values. However, we have also witnessed that China has been able to have an effective state control over these advanced technologies so that has been little if any democratization and is some cases it could be argued that we have seen a decrease in democratization! The Economist in a recent article has concluded that the democratization effects on China by technology could have been overestimated.
On the other hand, some of the new technologies will reinforce distinctions between individuals and classes of people, thus perhaps leading to a more hierarchical and elitist structure of society. Moreover, the ability of the new technologies to successfully manage and facilitate diversity of tastes and markets, may lead to a fragmentation of societies such that it will be difficult to sustain larger goals and visions. For example, it is unclear whether a television society can really sustain a long-term mission, or goal, or struggle.
Dr. John Psarouthakis, Founder and former CEO, JPIndusries,Inc., a Fortune 500 industrial corporation. Publisher of www.BusinessThinker.com
Before you can begin final negotiations on price, you need to determine the value of the company. You can use several techniques to value a company. We recommend the discounted cash flow value approach as the most accurate method although other approaches are useful in preliminary stages of your search to give you a sense of the range of the estimated price.
Timing and Scope of the Valuation Process
An initial calculation of valuation can be done on a fairly mechanical basis, based on information provided to you by the seller using established formulae and guidelines. However, determining the accuracy of the financial data that the seller provides you is an on-going part of the evaluation process that should take place throughout preliminary and formal due diligence up to the closing. Thus valuation takes place along with negotiations throughout the deal-making process. One of the key objectives of due diligence is to surface any information that might affect the accurate valuation of the company. If your team does not have a financial auditor you should hire one to verify the accuracy of the historical data.