Blockchain Can Drive Efficiency and Enable New Business Models in Global Logistics Industry

An online search for 'blockchain' will yield hundreds of articles. While the breadth and depth of these articles are wide-ranging, it is generally agreed that blockchain will become ubiquitous in many sectors including but not limited to financial services, insurance, healthcare, retail, and logistics and supply chain management. My colleagues and I are making significant efforts to better understand how blockchain works and ways it will improve business efficiency.

While many people are hearing the word 'blockchain' more often, very few understand how it works. Arjun Kharpal, a technology correspondent for CNBC, wrote an article on June 18, 2018 entitled "Everything you need to know about the blockchain," Mr. Kharpal begins explaining blockchain by how it "works with bitcoin" and then "see how the technology can be transferred to many other real-world use cases." With respect to supply chain management, Mr. Kharpal says, "Blockchain technology can also be used to track products across a supply chain or route. For example, diamond producer De Beers recently announced that it had trialed the technology to trace the stones from the time they were mined to delivering them to a jeweler. The blockchain can also be used to track ownership of assets such as fine art of even property."

DHL, a global logistics company, through its Customer Solutions & Innovation division, published a report entitled Blockchain in Logistics, which provides perspectives on the upcoming impact of blockchain technology and use cases for the logistics industry. Produced in cooperation with Accenture, a management consulting company, the report aims to answer:

1. What is blockchain and what are the key challenges?
2. How is this technology already being applied across industries?
3. What opportunities could blockchain deliver to your logistics operations?

In addition to the aforementioned article by Mr. Kharpal, the DHL report provides a concise definition of blockchain as "a distributed ledger technology that can record transactions between parties in a secure and permanent way. By 'sharing' databases between multiple parties, blockchain essentially removes the need for intermediaries who were previously required to act as trusted third parties to verify, record and coordinate transactions. By facilitating the move from a centralized to a decentralized and distributed system (see figure 1), blockchain effectively liberates data that was previously kept in safeguarded silos."

Key challenges facing blockchain technology include:

"Gaining industry adoption is the most critical challenge and this will determine the success of blockchain technology in logistics. Being able to accurately and safely exchange information within a community is a key advantage of blockchain and stakeholders benefit the most when their community contains many relevant members. Therefore, similar to Facebook, the value of the community increases when it is adopted by a growing number of relevant stakeholders."

"It is necessary to make progress with blockchain technology itself in order to overcome current technical limitations. This is especially required for companies moving from a pilot implementation to full-scale deployment. For example, some blockchain implementations have been known to scale poorly and suffer from high latency although new innovations are being developed to address these scalability and performance issues."

"Organization and culture play a significant role in the success of digital transformation in any industry. Particularly with blockchain technology, this cannot be overlooked as its adoption will require a collaborative mindset to engage with a large number of stakeholders. Therefore, within
organizations, a culture of embracing new opportunities from blockchain technology should be fostered. Managers, particularly those in IT functions, must gain blockchain expertise to proactively push organizational exploration and, if applicable, adoption of blockchain-based solutions."

The report importantly notes, "While there are many hurdles to overcome, these challenges with blockchain are not insurmountable. Already this technology, despite its relative infancy, is showing promise across a wide range of industries including citizen services, retail, life sciences and healthcare, automotive, manufacturing, energy, and logistics."

Specifically to logistics, the report says "global supply chains are highly complex, with diverse stakeholders, varying interests, and many third-party intermediaries – challenges that blockchain is well suited to address. In the logistics industry, blockchain can be harnessed in two key ways, namely, to drive efficiency and enable new business models:

"Drive efficiency: Blockchain can potentially improve efficiency in global trade by greatly reducing bureaucracy and paperwork. For example, a multi-stakeholder process with a lengthy paper trail could be replaced with an automated process storing information in a tamper-evident digital format.

"Another example is the automation of services that currently require an intermediary such as insurance, legal, brokerage, and settlement services. Blockchain could be used to track a product's lifecycle and ownership transfer from origin to store shelf, even as it changes hands between the manufacturer, logistics service provider, wholesaler, retailer and consumer. It would facilitate and automate each business transaction, enabling a more direct relationship between each participant (e.g., automating payments and transferring legal ownership between parties).

"Enable new business models: Micro payments, digital identities, certificates, tamper-proof documents and much more can be introduced and radically improved using blockchain-based services. For example, driver training organizations could replace easy-to-fake paper-based certificates with tamper-proof digital versions that can then lead to new identity-related services. Just as the Internet began a revolution of communication, blockchain technology could disrupt current business practices and models."

Lastly, the report encouragingly explains, "Blockchain technology is emerging from its first deployments in cryptocurrency and is now likely to have significant impact across almost all industries. Like a pebble dropped into a lake, the ripples from this technology are beginning to expand outwards in all directions including the logistics industry, where blockchain promises to make business processes more efficient and facilitate innovative new services and business models."

How will your organization utilize blockchain technology?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

Report Explores How Digital Technologies Are Shaping the Middle East's Healthcare Ecosystems

According to a report published by The Economist Intelligence Unit (The EIU), "5 out of 14 countries in the Middle East have a well-defined digital transformation plan for healthcare in action. Governments, healthcare providers and companies will have to figure out how to initiate entire healthcare ecosystems to adopt new technology-enabled ways of solving challenges in healthcare."

The EIU's report, Digital Health: Digital Transformation in the Middle East, explores how digital technologies are shaping the Middle East's healthcare ecosystems, activities and stakeholders in significant ways. It is also on this deepened understanding that we examine the opportunities and challenges that lie ahead in the realities of finding digital health solutions for this region. The report is segmented by three chapters.

Scaling up digital health solutions in the Middle East: The seeds of digital transformation 

"Government-led digital transformation efforts in several parts in the Middle East are reshaping how individuals and organisations in the healthcare ecosystem are interacting with each other. There is a stronger need for collaboration and companies will need to engage with other players on new terms."

Key implications:

• For digital health to take off, there must be a fundamental shift in how stakeholders collaborate. Achieving a vibrant digital health ecosystem often requires government action;
• Governments and organizations need a strategy not just for itself, but for the entire digital health ecosystem;
• To scale digital health use, companies need to understand and respond to local challenges and varying levels of readiness for technology adoption in different markets; and
• Companies can seed change in different markets more effectively and quickly by setting up centers for digital health in strategic locations with high digital density, leading to the formation of digital hubs.

Locating technology's value proposition in different markets

"Digital health instantiates itself uniquely in different countries and markets faced with an exclusive set of healthcare challenges. We examine how quality care can be extended across distances by growing telehealth use in different settings and geographies. We also look at data-driven solutions that are used to create smarter, more efficient and more precise healthcare delivery and patient experiences."

Key implications:

• New insights will emerge from existing data that will challenge existing strategies and models in healthcare;
• Recognize and define what healthcare challenges can be addressed by technological solutions;
• Locate opportunities where technology can be used to enhance core products and value propositions of pharmaceutical and medical device companies, for example enabling more tailored treatments and services through big data insights;
• Determine how ready are different markets and adopters for the introduction of technologically-enhanced product and service offerings, and tailor a go-to-market strategy accordingly;
• Figure how incentives for adoption can be better aligned, e.g. initiatives to encourage patients to share their health data; and
• Healthcare companies will have to think hard how technology can be integrated in their overall growth strategy.

Future care models for the Middle East: Keeping people healthy

"Digital technology is making new care experiences possible by reshuffling delivery nodes of different medical services that will bring opportunities in decentralized and near-patient products and services."

Key implications:

• Companies need to think about how to offer value in a shifting healthcare delivery landscape as the delivery locus of different medical services gets reshuffled;
• Anticipate patient and provider needs amid digitization; and
• Remap patient pathways and journeys. Small preferences in using technology accumulates in broader changes in the patient pathway and journey.

The report further explains that "[w]hile the level of digital maturity is uneven across the region, and sometimes across different areas of healthcare, it is only a matter of time before the full benefits of digital health permeate the region. More than ever, healthcare companies need to respond to that future now."

If you work in the healthcare sector in the Middle East, how will digital health technologies shape healthcare?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

Mobile Broadband Development in Central America Is Lagging Behind the Rest of Latin America, Finds GMSA Study

"Delivering mobile broadband to the whole population is now central to the digital strategy of Central American governments," a study by GSMA explains. "Digital government agendas have recently been launched in Costa Rica, Honduras, Panama and Guatemala. However, the region is lagging behind the rest of Latin America as the delay in 3G deployment and adoption spills over to 4G, where it is even more pronounced."

The study, Assessing the impact of market structure on innovation and quality: Driving mobile broadband in Central America, available in both English and Español, presents the following key points:

Central America is lagging behind in mobile broadband adoption and deployment. Closing this gap requires the promotion of market structures that boost competition in investment and innovation, and public policies that take the entire digital ecosystem into account

"The study examines the role of market structures in the development of the mobile sector in Central America. The market structures of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama are analyzed, exploring their impact on operator performance in investment and 4G networks. A comparative study of public policy in the region shows how policy can foster an environment in which operators acquire greater ability and incentives to compete in investment and innovation, to the benefit of consumers in the region."

Investment in mobile communications in Central America follows an inverted U relationship with the number of operators

"The analysis confirms that operator investment in Central and South America is not necessarily higher in markets with a higher number of players. It reveals the existence of an inverted U, where operator investment is maximized when operators have an EBITDA margin of 32-38%. Operators whose profitability is below these levels invest less."

Operators' 4G speeds in two-player markets are 40% faster than the Central American average and 10% faster in three-player markets

"Analysis of speeds experienced by users of 4G networks in Central and South America consistently show similar results. The study finds (in its most conservative estimates):

• Operators in two- or three-player markets experience 4G download speeds that are up to 8 Mbps faster due to market structure. This means that users in these markets experience download speeds that can be around 40% faster than the Central American average.
• Operators in markets with four or more players record 4G speeds that are 2 Mbps slower due to the market structure. This means their users have download speeds that are 10% slower than the Central American average.

These findings were obtained from models of 4G download speeds estimated using Speedtest Intelligence™ data from 52 operators in Central and South America from 2013 to 2016 (based on consumer-initiated tests).

Public authorities in Central America have the opportunity to remedy the delay in 4G by promoting public policy that encourages innovation and investment

"In light of the evidence provided in this study, public policy should promote the ability and incentives to invest, encouraging an environment with greater competition in innovation to deliver better products and services to users. This requires operators to have scale, margins, sufficient expected return and efficiency in the use of spectrum."

The report also identifies three main public policy recommendations:

1. Merger review should consider how efficiencies can stimulate players' ability and incentive to compete, using appropriate analysis criteria. Additionally, authorities should consider all the competitive pressures operators face in the digital ecosystem, particularly in the context of convergence. These recommendations apply to all the markets, although specific barriers have been identified in Panama, where specific legislation de facto has prohibited mergers for many years; and El Salvador, where efficiency arguments have not been accepted in merger review;
2. Retail and wholesale regulations limit operators' ability to compete. Three of the six markets have price caps (Honduras, El Salvador and Nicaragua), direct regulations on network quality (Costa Rica, Panama and Honduras) and constraints on price discrimination (Costa Rica, Panama and Nicaragua). Authorities should review the market and competition assessments that form the basis of these regulations; and
3. Spectrum regulation should promote efficient use by assigning sufficient amounts of spectrum in large blocks and high and low frequency bands. The study finds that Central America has assigned only 21% of the required spectrum recommended by the International Telecommunication Union for efficient and effective provision of mobile services. In this regard, Guatemala, Panama and El Salvador are significantly lagging behind.

Mobile technology can serve as tool for positive change for those living in Central America. Governments of Central American nations, however, must make a concerted effort to reform regulations to attract investment from the private sector.

What recommendations would you add to stimulate the growth of Central America's mobile technology sector?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

Mobile Ecosystem to Be Worth $51 Billion to West Africa Economy by 2022

The role of the mobile technology sector in driving economic growth is a topic that is discussed regularly in this blog. Whether it is in India, Latin America, Southeast Asia, or Sub-Saharan Africa, the mobile ecosystem can play a vital role in empowering billions of people while achieving the 17 Sustainable Development Goals (SDGs), which seek to end poverty, protect the planet and ensure prosperity for all. This post focuses on a report, The Mobile Economy: West Africa 2018, produced by the GSMA Intelligence, the research arm of London, England-based GSMA,

Available in both English and Français, the report presents three major points:

Mobile adoption on the rise

"By the end of 2017, there were 176 million unique subscribers across the West Africa sub-region, comprising the 15 member states of the Economic Community of West African States (ECOWAS),"  Overall subscriber penetration reached 47% in 2017, up from 28% at the start of this decade. Despite the remarkable subscriber growth in the sub-region in recent years, and indeed across Sub-Saharan Africa, more than half of the region's population do not yet subscribe to a mobile service."

Moreover, "Subscriber growth will be driven by a demographic shift in the coming years, as many young adults take out a mobile subscription. Over the period to 2025, around 72 million new mobile subscribers will be added in West Africa, taking subscriber penetration to 54%.

The study importantly explains that "the transition to mobile broadband is gaining momentum across West Africa. 3G remains the dominant mobile broadband technology, but 4G adoption is rising rapidly from network expansion and greater availability of 4G devices. The number of smartphone connections has more than doubled over the last two years to reach 112 million, accounting for 35% of total connections on average at the end of 2017."

Mobile contributing to GDP and employment

The GSMA study says the mobile ecosystem contributed $37 billion to the West African economy in 2017, equivalent to 6.5% of GDP. "The mobile ecosystem consists of mobile operators, infrastructure service providers, retailers and distributors of mobile products and services, mobile handset manufacturers, and mobile content, application and service providers. The use of mobile technology also drives improvements in productivity and efficiency for workers and firms. 3G and 4G technology allow workers and firms to use mobile data and internet services. This improves access to information and services, which in turn drives efficiency in business processes across many industries, including finance and health. This impact of mobile internet is particularly significant where fixed infrastructure is poor and mostly confined to large cities and business & industrial districts."

What is more, "Mobile operators and the wider mobile ecosystem provided direct employment to more than 200,000 people in West Africa in 2017, predominantly in the retailing and distribution of services and handsets. In addition to this, economic activity in the ecosystem creates jobs in other linked sectors as a result of the demand generated by the mobile sector. Going forward, we expect the economic contribution of the mobile ecosystem to continue to increase in both relative and absolute terms. In value-added terms, we estimate that mobile will contribute $51 billion to the West African economy by 2022, equivalent to 7.7% of GDP."

Mobile delivering greater inclusion and empowering consumers

Encouragingly, "The number of mobile internet subscribers doubled over the last four years to reach 78 million, nearly half of the total number of mobile subscribers, by the end of 2017." The number of registered mobile money accounts in the sub-region reached 104.5 million in 2017, while the total value of transactions for the same period reached $5.3 billion. The rapid adoption of mobile services and the funding and infrastructure gaps in the provision of essential services present an opportunity for local innovators to create digital solutions that address a wide range of social and economic challenges across different countries in the sub-region. As of February 2018, there were 142 active tech hubs across West Africa."

Based on my experience of working in West Africa, I agree with the report's assertion:

Collaboration among all stakeholders is required to sustain growth and innovation in the mobile industry across the sub-region. In addition to the work of operators to expand and improve networks, significant efforts from governments at all levels are needed to create the right conditions for continued investment. At the supranational level, ECOWAS is well placed to convene and facilitate dialogue between multilateral stakeholders; serve as a hub for knowledge sharing and dissemination with regards to best practices; and provide a platform to harmonize differences in approach towards key issues that impact the mobile industry across the sub-region. At the country level, national and municipal governments have a role to play in addressing fiscal and regulatory issues that directly impact investment sentiments, especially on capital-intensive infrastructure deployment and the rollout of innovative mobile-based services.

Infographic: GSMA Intelligence

Are you engaged in West Africa's mobile economy? If so, what advice to you have in creating solutions that will end poverty, protect the planet and ensure prosperity for all?

Aaron Rose is a board member, corporate advisor, and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

Poor Communication Is Having a Tremendous Impact on the Workplace

Merriam-Webster defines 'communication' as a process by which information is exchanged between individuals through a common system of symbols, signs, or behavior. This simple concept is often painstakingly difficult to implement effectively in any company. Therefore, I read with great enthusiasm the findings of a survey conducted by The Economist Intelligence Unit (The EIU) and sponsored by Lucidchart, a visual productivity platform that helps anyone understand and share ideas, information, and processes with clarity, that reveals some of the perceived causes and effects of these communication breakdowns.

Entitled Communication barriers in the modern workplace, the survey's executive summary says, "It wasn't long ago that a work meeting meant gathering around a table to discuss an agenda. These days you may be using Slack, Hangouts or other digital collaboration platforms that blend messaging with video and allow real-time editing of documents. Even with these tools, communication at work can still break down, potentially endangering careers, creating stressful work environments and slowing growth."

The survey, conducted from November 2017 to January 2018, included 403 senior executives, managers and junior staff at US companies divided equally and from companies with annual revenue of less than US$10m, between US$10m and US$1bn and more than US$1bn. The survey research provides insights about what employees see as the biggest barriers to workplace communication, the causes of the barriers and their impact on work life. Below are the survey's key highlights:

Poor communication is having a tremendous impact on the workplace.

"Unclear instructions from superiors, pointless meetings and other stressors can snowball into larger issues with widespread impacts on the business. Respondents say communication barriers are leading to a delay or failure to complete projects (44%), low morale (31%), missed performance goals (25%) and even lost sales (18%)—some worth hundreds of thousands of dollars."

The most frequently cited cause of communication barriers is fundamentally human: different communication styles.

"In an age of constantly changing and real-time communication tools, this barrier is made more complex by generational and functional differences in communication preferences."

The use of instant messaging and social media at work reflects a gap between how generations use certain communication tools.

"Nearly a third of millennials (31%) say they use instant messaging at work every day, compared with only 12% of baby boomers. Tomorrow's executives will find they have to adapt if they want to be effective today when working with older generations that prefer to pick up a phone. At the same time, older generations would be wise to embrace the new communication tools on which developing leaders will continue to rely."

There is a discrepancy between the communication tools that people find most effective and the ones they regularly use.

"Visual-based tools, for example, are relatively underused compared with their effectiveness. Video conferencing, presentation decks, white boards and sketch pads are largely seen as somewhat or very effective at helping respondents share ideas and understand them well. However, email, which is the most commonly used method of workplace communication, is not considered very effective by the majority of respondents."

An employee's place in the pecking order affects the fallout they face from poor communication.

"Middle managers tend to be affected the most by communication barriers. For example, nearly half of directors (49%) say their colleagues experience the consequences of poor communication either frequently or very frequently—more than C-level executives and non-manager employees. This fact though is not so surprising considering they are constantly conveying information back and forth between senior executives and junior employees, both of whom have different approaches to communication."

As a manager, I appreciate the report's findings that "[o]vercoming communication barriers will ultimately have to involve not only accommodating different personal styles, but also ensuring that management's communications are effective and account for generational differences in how information is shared at work." Moreover, "Different communication styles and ineffective use of communication tools are contributing to the lack of clarity about responsibilities that is evident in the research, and certainly adding to workplace stress levels. In fact, the survey shows that unclear instructions from a senior colleague or manager is the most frequently cited stressful situation at work."
Lastly, I find comfort in the report's concluding paragraph:

Work environments don't have to be full of miscommunication land mines, and businesses can take practical steps to improve communication. Meetings are a good place to start. The survey shows that 78% of respondents think having clearer goals for every scheduled meeting would have a significant impact on improving workplace communication, including 39% who say the improvement would be very significant. Moreover, six out of ten respondents say firm-wide training (62%) and having a wider range of communication tools to use (63%) would significantly improve work communication. By improving in areas such as these, as well as being aware of communication differences and the best applications of various tools, the workforce can both communicate more effectively and keep pace with the inevitable continuous change in when and how we connect at work.

Do you have any recommendations on how to communicate more effectively in the workplace?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

Tips on Updating Your Resume, Preparing for an Interview, or Getting Started Networking

Image: Daily Muse, Inc.

The mission of CareerLight, LLC, a company that I co-founded in 2017, is to provide customized career training for international students to help prepare them for a successful career in the U.S. and abroad. I regularly share articles focused on how to effectively find a job on CareerLight's social media pages. This post is about an article published by The Muse, an online career resource, which contains a list of 50 job search tips provided by Muse hiring managers and career experts.

While each recommendation, which are grouped by resume, cover letter, networking, interviews, and follow up, is valuable, below are those I particularly recommend to CareerLight's clients and wish prospective employees of my ventures utilize: 

Your Resume

1. Focus on What You Want, Not Just What You've Done
"Spend some time considering what you really want out of your next job, your career, and your life. Be honest with yourself, and try to get clear and specific. Then rewrite those 'goal' and 'objective' sections (yes, they're OK in some cases) with newfound clarity."—Dr. Suzanne Gelb

6. Use Numbers
"You increased recruiting? Give us the percent increase. You raised money for charity? Tell us how much you raised! This can turn average-looking experiences into impressive head-turners and help distinguish you from other candidates."—Alexandra Cavoulacos

8. Add Non-Work Work
"Volunteer work, particularly if it's long-term or if it gives you the chance to lead a project from beginning to end, can be a great substitute for full-time work. Some organizations give titles or recognition to regular volunteers, so find out if there are any formal credentials that you can use (if not, just use 'Volunteer'). Just like you would for a paid job, list bullets that show your major accomplishments and what you learned during your involvement."—Ashley Faus

Cover Letter

12. Be All About Them
In other words, avoid writing about how working at your target company will create a great boost for your resume and career. Hiring managers are fully aware of that. What they need to know is how you're going to provide a boost for the company."—Mark Slack

15. Rock Your Intro

"Try a high-personality lead in like this: 'Having grown up with the Cincinnati Zoo (literally) in my backyard, I understand firsthand how you've earned your reputation as one of the most family-friendly venues in the State of Ohio. For 20 years, I've been impressed as your customer; now I want to impress visitors in the same way your team has so graciously done for me.'"—Jenny Foss

18. Talk About Results

"Results stand out, and potential hires can really stand out by highlighting what they've done and the results. It's so important to hire talent who can execute, and my focus as an employer is to determine if hires can theorize, strategize, and execute their plan. There are plenty of thinkers and not enough doers. Separate yourself from the masses, and demonstrate what you have done."—Andrew Thomas

Networking

21. Get on LinkedIn—All the Time
If you're looking for a job, LinkedIn should be your social media priority. In your profile, include a meaty description of your experience and strengths. Flesh out each job opportunity with your responsibilities and biggest wins. Call people in your network who you've done great work for, and ask them to post a recommendation. Curate and create content around the industry or specialty you're most interested in securing a job in, and share that content with your LinkedIn community."—Alex Honeysett

24. Have a Powerful Elevator Speech

"Spruce up the delivery of your elevator pitch by using language that focuses on strong leadership verbs to send a powerful, forward-focused message. For instance, in order to shift perception of yourself from doer to leader, catch yourself before you say you 'work on' something or that you're 'responsible for' it.

"Be actionable instead. Say you lead it, oversee it, or orchestrate it. You'll convey that you do more than simply fulfill your job description—but that you take pride in your career and aspire to continue along a path of success."—Jo Miller

28. Follow Up With Everyone You Meet
Plan to sit down the next day and send a brief email to everyone you met. Let them know you enjoyed meeting them, follow up on anything you discussed at the event, and then, make it personal. Include an inside joke from the night before, share an article you think they might like, or, if you chatted about your hobbies, mention a new band or movie you think they'd like. This little extra effort can be just what it takes to start a worthwhile relationship."—Susan Blond

Interviews

29. Do Your Research and 30. Research Competitors, Too
"It's key to have a strong understanding of the position and the performance that would be expected of you. This means not only reading through the job announcement with a fine-toothed comb, but also researching past and current employees on LinkedIn. Often, you will find that they describe their jobs in a way that is not disclosed in the official job description—and this unique understanding can really enrich your ability to converse about the role."—Ashley Stahl

30. Research Competitors, Too
It's really surprising how few applicants have properly researched our competitors. Candidates who really make an impact know all about our brand, as well as how our strengths and weaknesses could relate to the market in general. Researching our products is all well and good, but a grasp of the bigger picture is just as, if not more, important."—Marvin Amberg

31. Research Everyone You'll Be Meeting With

"Do your research about the people who will be interviewing you. Know their professional background, interests, and experiences, and ask them relevant questions that show you did your homework. Ask the interviewer why he or she chose the company you're interviewing at, what attracted him or her to the opportunity, and what the future looks like for the business."—Matt Mickiewicz

32. And Have Questions for Them
"I am often the last stop on the interview schedule. I always ask candidates if they have questions, and I often hear, 'All my questions have already been answered.' It's tough to hire someone who doesn't want to ask the founder even one question. Good candidates come prepared with a lot of tailored questions."—Beth Monaghan

34. Have a Great Handshake

"A Fortune 500 CEO once said that when he had to choose between two candidates with similar qualifications, he gave the position to the candidate with the better handshake. Extreme? Perhaps, but he's actually not alone in his judgment."—Olivia Fox Cabone

44. Remember You're Interviewing the Company
We seek highly strategic thinkers, not people who just want a job. They should be interviewing us, too. The most memorable candidates have reached out to multiple team members ahead of and after an interview to ask questions, and some have asked to hang out for a day to experience the culture. These proactive inquiries show they are taking us seriously and strive to make well-informed decisions."—Emily Holdman

Follow Up

45. Email, Don't Call
"Skip the phone and send an email. It leaves a paper trail, it allows the recruiter time to properly look up your status information, it eliminates those annoying games of phone tag, and it prevents what I call drunk dialing the recruiter. (Nerves replace alcohol, but the result is the same: leaving a lengthy, nonsensical voice mail that hurls any candidacy consideration down the proverbial drain.)"—Yolanda Owens

47. Send a Suggestion
"Sometimes you leave an interview, send a thank-you note, then realize days later that you have a great idea, something else you should've asked, or another example that demonstrates your abilities. When this happens, a follow-up note is the perfect time to show that the company is still on your mind and you're really mulling on how you can help. Lead with asking for an update, as suggested above, and then go into your business question or suggestion."—Rich Jones

50. Don't Give Up

"Do what it takes to prove how much you want the job. Show that you are willing to go out of your way to chase your goals. Prove that you have a strong sense of initiative and are not afraid to veer off the usual path. Make your goals and requests clear with a sense of urgency. And make every person you meet with feel special."—Camilla Cho

Among the 50 tips, are there any that you find particularly valuable? Do you have any tips you would add?

Aaron Rose is a board member, corporate advisor, and co-founder of great companies. He also serves as the editor of GT Perspectives, an online forum focused on turning perspective into opportunity.

EIU Report Explores Different Scenarios Around the Economic Impact of Machine Learning

"There is more uncertainty around advances in artificial intelligence (AI) and one of its major sub-sets, machine learning, than the current debate suggests, particularly with regard to the technology's impact on society and the economy," explains The Economist Intelligence Unit (EIU) in a report entitled Risks and rewards: Scenarios around the economic impact of machine learning. "No doubt the advances have indeed been incredible and advocates are right to highlight them. A decade ago few believed that a car could drive on its own, even in a controlled environment, or that an algorithm could learn how to label and organize photographs. Yet both of those are now possible and various forms of AI are performing new tasks it seems on a weekly basis."

Commissioned by Google, The EIU report is based on the results of econometric modeling of three scenarios covering five countries—the US, UK, Japan, South Korea and Australia—and Developing Asia as a region. In addition, the report presents qualitative scenarios for four industries: manufacturing, healthcare, energy, and transportation.

Impact on GDP and productivity

With respect to the three econometric scenarios, The EIU uses its current forecast to 2030 as a baseline. The scenarios are:

Scenario #1: Greater human productivity through upskilling

"Scenario #1 assumes a higher degree of complementarity between human skills and AI than does the baseline and that governments will invest more in upskilling than current trends suggest. In the results, every country or grouping covered benefits, but some more than others. Australia, where growth in services is becoming more important for incremental economic growth than commodity exports, would see the greatest gains. The gains elsewhere would be more modest by comparison; although in this scenario, the UK's productivity rises to slightly positive from our baseline forecast, which is for a slight decline."

Scenario #2: Greater investment in technology and access to open source data

"Scenario #2 assumes investment in access to open source data, tax credits to spur private sector adoption of machine learning, and advances in computing efficiency drive hardware costs down. This scenario yields the most encouraging results insofar as economic growth is concerned. Each of the five countries, as well as Developing Asia as a group, experience higher levels of growth relative to our baseline forecast. Australia, again, along with Developing Asia, reap the greatest rewards from promoting investment in this scenario, but all of the countries covered see GDP rise by at least 1% above the baseline between now and 2030."

Scenario #3: Insufficient policy support for structural changes in the economy
"Scenario #3, which is the one negative scenario among the three, assumes the substitution effect for labor dominates due to inaction in workforce development—or more simply, skills— and a lack of national data sharing schemes. The losses are substantial compared to the baseline. The UK and Australian economies actually shrink in US dollar terms versus today, as a result, with the UK's economy becoming US$420bn smaller in absolute terms and the Australian economy US$50bn. The US, Japan and Developing Asia still grow in this scenario, but their economies are all significantly below the baseline, with the US and Developing Asia both off by around US$3trn."

The industries

The qualitative scenarios look at four industries: manufacturing, healthcare, energy and transportation, which are provided below in its entirety from the report's Executive Summary.

Manufacturing

Employment in manufacturing has become a headline issue with the rise of populism in certain developed countries. When discussing AI, it's important to differentiate automation in hardware, such as robotics, from automation in software, AI and its sub-sets. The former has already had a significant effect on labor demand in the sector and while the latter may contribute to this trend, its impact has been less direct, at least to date.

When manufacturing firms talk about AI, they talk about creating greater efficiencies in their supply chains, reducing maintenance costs and moving towards batch production. Each of these may or may not result in the elimination of low wage jobs, but they will almost certainly create high wage ones, albeit not at a one-for-one ratio. The speed at which firms turn towards automation in both hardware and software depends on the 'payback period,' a measure which weighs the cost of investment in automation versus that of the cost of local labor."

Healthcare

As a knowledge industry, healthcare is ripe for AI and there are a variety of applications already in place. It's being used in the discovery process for new drugs, to save costs in both prevention and treatment, and to augment the abilities of practicing physicians and clinicians.

Yet there are constraints. The healthcare sector has traditionally been slower than most sectors to adopt innovations. That may be changing, however slowly, but there are other hurdles that need to be overcome. One is the issue of privacy. Patients are understandably sensitive about their personal data being shared and unless they can be assured their data will only be used for specific and agreed purposes, they may not agree to sharing it at all. That would hinder the use of AI considerably, dependent as it is on data for developing solutions.

Energy

AI is expected to have the most significant impact on the energy sector in transforming generation, transmission and distribution into a more coherent system. This means, among other things, creating pricing systems based on probabilistic models and developing smart grids that can better deal with the issue of intermittency, or the fact that the wind doesn't always blow and the sun doesn't always shine. Solving for intermittency will allow electricity providers to maximize their use of green energy.

This does not come without risks. Smart grids, while more efficient than current analogue grids, are exposed to new and greater risks from cyber-attacks, which, in turn, creates national security concerns. That has knock-on effects on the willingness of local governments to integrate their grids and share their data.

Transportation

While autonomous vehicles have captured much of the public's attention, even though they may still be far off, AI is already making major contributions to the speed and safety of public transport. In many cities, AI being used to balance the flow of passengers across different modes of transport and data received from sensors around cities, combined with AI, are helping to make traffic flow more smoothly.

The advent of autonomous vehicles nevertheless remains in the fore of people's minds in this area. Besides the obvious issue of its impact on employment, there are regulatory and privacy concerns, as well as the question of liability when, inevitability, a driverless vehicle becomes involved in an accident, fatal or otherwise.

The report also identifies five approaches to grounding the discussion in reality.

Managing expectations. "In the near-term, AI will be neither utopian nor dystopian. It will provide new benefits and it will create new problems. Exaggerating its upsides is as detrimental to the debate as is exaggerating its downsides."

Better communication. "There are many understanding gaps when it comes to AI, but one of the most important to bridge is that between developers and businesses and government institutions. The former are often only dimly aware of what the latter two really need, and the latter, in turn, are often only dimly aware of the potential solutions the former could provide. A more robust and frequent exchange of information, capabilities and needs would help to remedy this."

Acknowledging the risks. "It is important to acknowledge that AI presents risks to employment, as well as privacy, and to start finding solutions to these and other issues rather than encourage complacency or resignation through unshakeable confidence."

Improving trust and transparency. "'Trust us' or trust the algorithm is not a viable strategy for gaining widespread acceptance of AI and its various subfields. Developers and users alike need to make known what they are doing and how they are doing it, in a way that is both meaningful given the usage context and practical given technological constraints."

Educating the public. "Gaps in knowledge and understanding are filled more quickly than ever with misinformation and distortion. The public needs an explanation of what AI is and does, and as simply as possible."

Lastly, the report importantly notes: "Policymakers, for their part, face a number of choices as regards AI and its impact." These choices include investing in skills and training, dealing with data, and investing in R&D and technology.

How do you see artificial intelligence's impact on society and the economy?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

Mobile Industry Uniquely Positioned to Realize Bangladesh's Vision 2021 Goals

"The mobile industry in Bangladesh has scaled rapidly over the last decade to become the fifth largest mobile market in Asia Pacific, with 85 million unique subscribers in 2017 – half the population," GSMA notes in a country overview of the Bangladesh mobile industry. The London, England-based organization further says that "[b]y helping to promote digital inclusion and support the delivery of essential services, the mobile industry makes a vital contribution to the economy of Bangladesh and plays a crucial role in supporting the achievement of the government's Digital Bangladesh and Vision 2021 initiatives, as well as the UN's Sustainable Development Goals (SDGs)."

The GSMA country overview outlined several key findings, including:

Affordability can be major barrier to mobile uptake

• A higher cost of mobile access will more greatly impact the poorest consumers, as it represents a higher share of their monthly income.
• High levels of taxation and fees would directly raise the retail prices faced by consumers, and thus represent a significant barrier to digital inclusion.

A forward-looking regulatory environment is essential

• Through review, reform and modernization of regulation in key areas, policymakers and the regulator in Bangladesh can play a major role in expanding access to and adoption of mobile broadband.
• A predictable roadmap should be created for future assignments of spectrum (e.g. 700 MHz), in consultation with industry players to ensure fair and reasonable policies and regulations while also supporting effective pricing of spectrum.
• Reforming mobile sector-specific taxation towards a more balanced and efficient structure can increase affordability of mobile products and services by lowering the tax burden on consumers and mobile operators

Spectrum barriers reduce operators' ability to invest

• The February 2018 spectrum auction saw high auction reserve prices and associated licence fees, which resulted in some spectrum going unsold. This highlights the importance of setting reserve prices for future spectrum auctions that consider operators' ability to not only finance access to spectrum, but also to deploy infrastructure accordingly.
• The government should ensure the timely release of spectrum and fair prices for access to that spectrum to facilitate better quality and more affordable services.

The report importantly notes the mobile industry makes a vital contribution to the Bangladeshi economy. "In 2015, the mobile ecosystem generated 6.2% of GDP in Bangladesh, a contribution that amounted to around $13 billion of economic value added. This figure includes the direct economic impact of mobile operators and the broader ecosystem as well as the indirect impact and the productivity increase brought about by the use of mobile technologies."

Moreover, "We expect that the economic contribution of the mobile ecosystem in Bangladesh will continue to grow. In value-added terms, we estimate that the ecosystem will generate $17 billion by 2020. This will be driven by a combination of productivity improvements brought about by continued mobile internet expansion (both in terms of coverage and uptake), as well as by the growth in content and services, which will bring Bangladesh closer to the development of the mobile ecosystem in neighboring countries."

Mobile continues to transform the lives of millions of Bangladeshi. "As more people come online over the next decade," the report explains, "the way they engage with mobile is changing as devices get smarter, services expand and societies become more connected, enabling seamless interaction between all aspects of an individual's digital life. Beyond core connectivity, the mobile industry in Bangladesh can provide services that are vital to the progress of a digital society."

Impact of Reforming Mobile Sector Taxation

The GSMA also commissioned EY to study the economic impact of potential tax reforms on the Bangladesh mobile sector. The report, Reforming mobile sector taxation in Bangladesh, analyzes developments in the mobile sector and its tax treatment in Bangladesh, and estimates the impacts of potential options for tax policy reform on the mobile sector, the wider economy and the government's fiscal position. The positive fiscal gains over a five-year period would be:

• $29 million from the reduction of the corporation tax for non-public mobile companies from 45 percent to 40 percent and for public mobile operators from 40 percent to 35 percent.
• $397 million from the elimination of the supplementary duty of 35 percent and VAT of 15 percent on SIM cards.
• $397 million from the elimination of the supplementary duty of 5 percent levied on mobile services.

Based on these proposed tax reforms, the Bangladeshi government may face an initial cost in the first year following the reform, but ultimately, the reforms would be more than self-financing. They would also likely boost productivity, leading to higher GDP and taxation revenue in the medium term. By promoting investment, reducing the cost of mobile ownership and incentivizing usage, the tax reforms will help to connect individuals, particularly those in low-income groups, to mobile services.

What strategies should be implemented for government and the mobile industry to work together to unlock digital transformation for millions of Bangladeshi?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

Report Focuses on How Asia-Pacific Is Leading the Way in Emerging Media Consumption Trends

A report published by The Economist Intelligence Unit (EIU) asserts that "although smartphones are now ubiquitous across much of the planet, Asia is at the cutting edge of innovation when it comes to their use." Digital upheaval: how Asia-Pacific is leading the way in emerging media consumption trends further says: "Already, across much of the region there has been fundamental change in media consumption and communication. Thanks to smartphones, which have brought millions online for the first time, many countries have leapfrogged the traditional intermediate stages of media consumption, and individuals have taken control. They can now access what they want, where and when they want it." Commissioned by The Trade Desk, a Ventura, Calf.-based technology company that empowers buyers of advertising, the report is based on in-depth research, including interviews with 16 experts and executives.

Based on my frequent travels to Asia over the past several years, I concur with the report's assertion that "the region's entrepreneurs have been quick to seize the opportunity, creating new networks of information and entertainment, and finding innovative uses for technologies such as multi-functioning messaging apps and quick-response (QR) codes."

Moreover, the report, which is available in English, 简体中文, and 日本語, explains, "All of this has opened up new channels of communication between businesses and consumers. It has also been a boon to the region's creative industries, notably small-time content producers such as individual live streamers. Further media-related innovations popularized in Asia, like the ability to link micropayments to these live-streaming platforms, are proving this region's inventive prowess to the rest of the world."

Regarding the Middle Kingdom, the report accurately notes:

China's unique digital ecosystem is a vital part of the story, giving rise to platforms like WeChat that have pushed the boundaries of technologies in areas such as payment and financial services, and paved the way for artificial intelligence (AI)-enabled chatbots to do things such as aiding customer interaction. Chatbots are just one new avenue companies are using to talk directly to individual consumers—QR codes are another, while digitally informed segmentation of markets for advertising campaigns can help brands forge new connections between data, clicks and purchases in the region.

Alongside the exciting advances, however, "there are concerns: Asia's frantic surge in smartphone-enabled media consumption has led to worries about media literacy. For example, Carol Soon of the National University of Singapore warns that Asian consumers have less awareness of data-privacy concerns than in Europe or North America, where it is a major issue. In the advertising space, tracking online metrics can be difficult for marketers used to channels such as TV.

"The story of Asia's digital media consumption, however, is predominantly about burgeoning opportunities and clever leaps, echoing the region's recent dramatic economic growth. Although most of these innovations can be found outside the region, in Asia their development, use, scale and impact are distinctive in several ways."

The following key advances in media consumption in Asia are addressed in the report:

Hyper-functional messaging platforms (China)
Platforms such as WeChat have become mutifunctional, especially with financial services. This is both threatening the ecosystem of app proliferation and upending payment models.

Live-streaming services (China)
Mass live streaming, an entirely new digital media category, has become especially popular among internal rural migrants, who number nearly 300 million and use it to forge informal networks of support in new environments. This has sparked new innovations in micro-payments between audiences and content creators.

QR codes (China)
Companies are finding innovative uses for QR codes, which allow them to communicate directly with individual customers in on-the-go situations.

K-pop's digital underpinnings (South Korea)
K-pop has become internationally popular thanks to a clever combination of world-leading digital infrastructure and innovative cross-border social-media marketing.

Social media as migrant social network (Indonesia, the Philippines)
Previously isolated overseas domestic workers are using social media on personal smartphones to build virtual communities of support, information and entertainment.

Long-form narrative advertising (Thailand)

Bucking the trend elsewhere for short and sensational digital adverts, Thai businesses are using the opportunities afforded by digital production to make longer narrative adverts that resemble mini-soap operas.

Natural-voice interfaces (Asia-Wide)
The region is at the fore of developing voice-enabled interfaces between users and software (including chatbots).

What innovative ways have you observed in the use of smartphones in Asia?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.

EIU Report Explores How Brexit Will Affect Trade, Regulations and Jobs Within Six Sectors of the UK Economy

To my surprise (and disappointment), the United Kingdom electorate voted in 2016 to leave the European Union. In March 2017, Theresa May, the UK prime minister, informed the European Council president Donald Tusk of the UK's intention to leave the EU in March 2019 in accordance with article 50 of the Treaty on the European Union. Several of my friends and colleagues have asked for my opinion on how Brexit will affect the UK's economy in general as well as its impact in specific sectors.

Admittedly, I have yet to formulate a definitely response. To date, so many variables are undetermined, which carry terms such as "hard Brexit," "soft Brexit," "EEA" or European Economic Area, "Norway minus," just to name a few. Therefore, I read with great interest a report, A Year To Go: How Brexit Will Affect UK Industry, published by The Economist Intelligence Unit (The EIU) that explores how Brexit will affect trade, regulations and jobs within six sectors of the UK economy.

The report provides the latest update about negotiations between the UK and EU by noting that "a summit of EU leaders on March 23rd agreed the terms of the transition agreement reached by the UK and EU negotiating teams on March 19th. Talks on the substantive issue of the future trading relationship have yet to start in earnest and a deal is supposed to be done by October 2018 to allow time for ratification."

Moreover, "With a year to go before the UK leaves the EU and the 21-month transition period begins—during which time the UK will maintain access to the single market and will be bound by the obligations of membership--this report analyzes the possible impact on six sectors of the UK economy. The transition agreement provides businesses with some certainty that they will have time to adjust to the new UK-EU relationship. However, Brexit will nevertheless entail some disruption. In three sectors, we expect the impact to be direct and difficult to manage—financial services, healthcare and life sciences, and automotive. In consumer goods and retailing, telecoms and energy, the impact is likely to be more diffuse but still disruptive."

The first part of the report discusses The EIU's "current core forecast for Brexit, which involves the UK agreeing to a Canada-style free-trade-agreement (FTA) with some special terms for sectors that are particularly important to the UK economy." The report adds, "this so-called Canada-plus-plus deal will probably emerge during the transition period. We then outline a 'hard Brexit' or 'nodeal Brexit' scenario that involves talks breaking down during the transition period, and the UK leaving the EU without a trade agreement. Using the usual modelling techniques that underpin our industry forecasts, we compare how the economic growth projections for these two scenarios would affect key indicators for our six sectors, unless policies are adopted to mitigate those effects.

"The second section of this report is more qualitative and focuses on how Brexit will affect companies and other organisations operating in our six sectors. The issues at stake mainly involve trade, regulation, employment and skills and access to investment with much riding on how the UK coordinates its policies with those of the EU and its institutions."

The issues at stake mainly involve trade, regulation, employment and skills and access to investment with much riding on how the UK coordinates its policies with those of the EU and its institutions.

The EIU's key forecasts are:

"We expect the UK economy to carry on growing in 2018-22 under our core scenario of a Canada-plus-plus deal and our hard Brexit scenario. However, if the UK leaves the EU without a trade deal we estimate that by 2022 the UK’s nominal GDP will be 2.7% lower than in our core scenario. Given that inflation would also rise under a no-deal Brexit, real GDP growth in 2020-22 would probably be halved. However, our long-term outlook for the UK economy remains positive, regardless of the terms of the UK’s departure from the EU.

"After Brexit our view is that London will retain its status one of the world's leading financial centers, along with New York and Singapore, and that it will also remain Europe's leading financial hub after Brexit. There is also a large degree of inter-dependence between the UK and EU financial services sectors, just as there is for the trade in goods between the UK and the EU. This inter-dependence matters and means that there is to some degree a mutual interest in achieving a deal that works for both sides. Even under the core scenario, however, a financial services deal will be partial and some financial institutions will consider relocating some personnel and parts of their business after Brexit. The sector is more reliant on global than on EU trends, and will remain a robust driver of the UK economy.

"The healthcare and life sciences sector is likely to see exports shrink under our core scenario, but the worst-case scenario—a shortage of much-needed medicines—will be avoided through regulatory agreements. The slower economic growth predicted under a no-deal Brexit scenario would dent tax revenue and consumer spending. Unless policies are adopted to mitigate the effect, this would result in total health spending per head being £90 (US$125) lower in 2022 than it would be under a softer Brexit. However, the UK government could potentially use some of the fiscal savings from ending contributions to the EU budget to mitigate the impact on these sectors.

"The automotive sector faces a huge challenge: without a UK-EU FTA, large-scale production in the UK would become difficult. UK vehicle-makers will try to expand in other export markets, but will also need to stimulate domestic demand. Under a no-deal Brexit, we forecast that vehicle sales would be 13.1% lower by 2022 than they would be under our core scenario. Cumulatively, the industry would sell around 840,000 fewer vehicles between 2019 and 2022 than under our core scenario.

"The loss of EU workers and disputes over regulation will affect most consumer goods manufacturers, as well as the food sector. Unless agreements are reached over mutual recognition, the effect is likely to push down exports and push up the prices of imports still further. The biggest impact of a no-deal Brexit would be on retail spending, which could be 13.4% lower in nominal terms in 2022 compared with our core scenario.

"In terms of energy policy, the UK will continue to forge ahead on emissions reductions and decarbonization. However, the task will become more difficult and energy costs may rise if it exits Europe's internal energy market. Energy consumption would be 2.9% lower by 2022 if the UK leaves the EU without a deal and the economy slows as expected.

"The UK's exit from the 'digital single market' will primarily affect telecoms operators with significant business on the continent. However, there may also be an effect on investment in innovation, as well as on the prices that UK consumers pay when using their mobile phones abroad. Investment in mobile technology could be 3.5% lower by 2022 under a no-deal scenario."

Based on my readings as well as conversations with experts in financial services, I agree with The EIU's assessment that London will retain its status one of the world's leading financial centers and that it will also remain Europe's leading financial hub after Brexit. I expect, however, to see financial firms grow their operations in key EU cities such as Dublin, Frankfurt, Madrid, and Paris in the coming years. Doing so will mitigate any work permit issues employees from countries outside of the EU may encounter working in the UK. Furthermore, companies, including those I manage or consult, may develop a two-pronged European strategy with a unique approach for tailored for doing business in the UK and a separate strategy for the EU.

As far as Brexit's impact on the other five sectors covered by the report, I remain attentive to negotiations that will lead to formal agreements in the months ahead. I think the UK electorate made a mistake in voting to leave the EU. Nevertheless, I, along with several U.S.-based business executives, am hoping for a solution that will provide minimal negative impact to the UK economy.

How do you think Brexit will affect trade, regulations and jobs within the aforementioned six sectors of the UK economy?

Aaron Rose is an advisor to talented entrepreneurs and co-founder of great companies. He also serves as the editor of Solutions for a Sustainable World.