The European Business Review

Whether it's a global pandemic, a major geopolitical conflict nearby, or now a rise in inflation that slowly resembles that caused by the oil shock of the 1970s, this significant turbulence points to a higher risk of economic recession. The emerging consensus among economists is that the odds of a recession are overwhelming in the eurozone by the end of 2022. Although the United States may be able to escape with a serious slowdown, the China growth engine has never been so fragile. ROARING OUT OF CRISIS The risk of recession is a clear warning that companies need to prepare for much greater resilience in the months ahead. But while recessions often hurt, it's often because companies are ill-prepared. Previous crises actually teach us an important lesson, which is that a crisis…

A simple Google search of what AI can do will bring up no shortage of examples of how the cornerstone technology of the Fourth industrial revolution is transforming all sectors of the economy. From manufacturing, health, education, arts, government services, and financial institutions, we have come to expect that AI and machine learning algorithms will continue to play a key role in our everyday lives. Automation and personalization are the central pillars driving innovation in technology and business operations and both pillars rest squarely on the shoulders of algorithms. THE TECHNOLOGY OF THE FUTURE IS NOT READY FOR THE 21ST CENTURY However, as we enter the age of climate change and start seeing its myriad impacts on our health1, our societies, and our economies, the real revolution is not technological, it's social.…

Decades ago, it was broadly predicted that digital machines would sweep the workforce world, leaving precious few, mostly white-collar-worker, positions. The professionals, managers, and executives would continue to work in their higher-paid, benefits-laden positions; the rest of the workforce would be replaced by AI. At first, in large part, the advent of AI did impact the non-professional positions at a higher rate than the skilled professions. Economist and public policy analyst Professor Harry J. Holzer of Georgetown University writes, “Indeed, digital automation since the 1980s has added to labour market inequality, as many production and clerical workers saw their jobs disappear or their wages decline. New jobs have been created – including some that pay well for highly educated analytical workers. Others pay much lower wages, such as those in…

As I look at my son filling out his Common Application for college admissions, it makes me go back in time to over three decades ago when I filled out each application on paper and created a thick paper-based portfolio by sticking pictures of my work. I was able to print using word processing software and that was revolutionary. We have come a long way from those days, and the change has not only been just a technological one but also a transformational one– one that has changed the way we live, work, and think. Workflows and paper-based processes have progressed immensely in the last two decades. While several organisations are still playing catch up with automating their paper-based processes, the buzzword around automation is intelligent process automation, and business process…

Influencer marketing is an established management practice for companies seeking to grow their digital presence. The industry was estimated to be worth US$13.8 billion in 2021 and is projected to reach US$16.4 billion by the end of 2022.1 The expectations are for this industry to reach a value of $22.2 billion by 2025.2 In current business practice, digital influencers play a prominent role, given their widespread online presence and ability to influence the purchase decisions of followers. According to the 2022 Global Marketing Trends report by Deloitte, polling 1,099 C-suite executives from global companies in the USA, France, Japan, the UK and the Netherlands, 25 per cent of CMOs and 42 per cent of CFOs prioritise collaborations as a marketing tool, particularly influencer collaborations, to be closer to customers. Influencers…

Over the past few years, many brands have grappled with whether they should weigh in on social and political issues. In evaluating this crucial question, brands can gain insight from a very unexpected source: the psychology of hobbies. On their surface, hobbies and political activism couldn't be any more different. The former are trivial and fun, while the latter is profound and pragmatic. Activism is distinct from corporate social responsibility, which often takes a behind-the-scenes approach. Instead, activism is about stamping the brand's flag on a specific issue and publicly declaring the change they want to see. So what does activism have to do with hobbies? Despite these surface differences, the two share a core commonality at their source. Hobbies and brand activism, when done right, both come from the same wellspring…