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graceeeee05 · 5 years ago

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Sun Tzu's Awesome Tips On Rich Credit Cards

The ultra-wealthy have varying requirements to average individuals like us. While we are constantly on the look-out absolutely free travel insurance coverage when scheduling our flight, they are looking to employ an exclusive jet at a minute's notification with their bank card.

When shopping for credit report card, these high net well worth individuals look for various criteria. According to a study by the Deluxe Institute, the affluent are searching for a card that offers them "special gain access to, unmatched benefits as well as improved customer experience".

So what bank card can you find in extremely rich people's wallets? Below are 5 of the most high-status, unique credit cards on earth:

1. American Express Centurion Card 1. American Express Centurion Card

Practically every person has actually come across "The Black Card", the most prominent exclusive card out there. Everything began with a rumour of a super-exclusive and secret premium American Express "black card", back in the early 1980s.

Ultimately, American Express determined to capitalize the rumour, presenting the Centurion Card in 1999 for just its richest consumers. The card is constructed from anodised titanium, making the card black in colour.

How do you obtain a Centurion Card? The initiation charge alone is US$ 7,500 (RM28,203), while the yearly fee is US$ 2,500 (RM 9,410).

There's no limitation on the card, so you can bill, as one consumer did in 2014, HK$ 281 million (RM 136 million) to purchase an old Chinese ceramic cup from Sotheby's Hong Kong. For this acquisition, Liu Yiqian won 422 million American Express factors, which he can trade for "28 million constant leaflet miles or about US$ 180,000 (RM677,512) well worth of coupons at Hong Kong store ParknShop," according to Bloomberg Service.

Cardholders additionally get accessibility to a whole host of glamorous things, most of which American Express conceals, yet some details are dripped out. A few of these "deceptive" points consist of renting out a Solution One automobile, as well as attendant solutions. Advantages differ from country to nation, but it's risk-free to claim that nearly everything is within your reach with the Centurion Card

2. JP Morgan Palladium Card JP Morgan Palladium Card

If you believe titanium cards are too traditional, you will alter you mind with the JP Morgan Palladium Card Introduced in 2009, it's constructed from palladium and 23K gold. A Bloomberg record approximates that the products of the card alone set you back US$ 1,000 (RM3,764). Your name and also trademark are laser-etched onto the card. Stylish.

This might be even more out of your reach than the Centurion Card In order to qualify for the Palladium Card, you need to have a personal banker with JP Morgan, and also the minimum for that is US$ 1 million (RM3,764,030), although Chase Private Clients can also qualify, lowering the minimum to US$ 250,000 (RM941,007). The annual fee, according to Dr Charge card, is a whopping US$ 595 (RM2,239)!

What are the advantages? For every single buck invested, you get one factor, or two factors if you spend on traveling. And when you strike US$ 100,000 (RM376,355) in spending, you obtain an incentive 35,000 points.

There are no fx costs, late charges, cash advance fees, or overdraft account costs. This is perfect for those who want to take a trip like a queen, as you additionally obtain access to greater than 600 flight terminal lounges worldwide, and you can additionally utilize MarquisJet, the globe's biggest fleet of exclusive jets.

There are several other benefits to holding this card, as well as you can money in your points for skydiving lessons, free golf lessons with a professional, and other exclusive incentives. Additionally, did we state it's made from gold?

[communication id=" 558b9698ab9dc6b44931c890 ″] 3. Dubai First Royale Card. Dubai First Royale Card.

If you are not the precious metals type of man or woman, you will definitely be thrilled with priceless treasures. This of a kind card, the Dubai First Royale Card, is not only cut with gold, yet it additionally include a white.235-carat diamond smack dab in the middle of it.

Ibrahim al Ansari, chief executive of Dubai First, informed The National that this is "the most special charge card worldwide". It's readily available to members of the royal family members and individuals that are clearly rolling in loan. Not every person can make an application for these cards. You have to be welcomed, and also the bank scouts customers from throughout the globe.

To provide first-rate benefits as well as advantages, the financial institution has partnered with Quintessentially, a high-end solutions business, to supply dedicated attendant services for the cardholders.

" What are their demands? It's not money-- it's service," al Ansari said. The attendant solutions can provide nearly anything your heart's wish. Want tickets to the Oscars? Not an issue. The concierge solution as soon as flew a customer to Stuttgart, Germany just because he intended to test-drive the latest Porsche.

On top of all that luxuries, cardholders can additionally get 4% cash back on all acquisitions, without annual fees. Nevertheless, there is an AED7,000 (RM7,171) signing up with fee (since 2011). Certainly, there's no spending limit, since if you're the sort of individual that has a diamond in his credit card, you do not require one.

The card prides itself on its top-notch service. "You request the moon and also we attempt and also obtain it," al Ansari claimed. As well as you can probably bill the cost of the real moon to this card

4. Coutts Silk Card. coutts silk card.

Recognized as the "most respected as well as popular card", it was first introduced by the exclusive financial institution Coutts & Co. in 2013. A cost card, the Silk Card offers accessibility to a first-rate attendant service, to assist make your life simpler in every feasible method.

Cardholders do not require keep an eye on their benefits points. The financial institution sends you a letter requesting for you to select the reward you want everytime you pass an investing threshold.

For a taste, at ₤ 25,000 (RM146,181), you can obtain 2 containers of Brice Bouzy Grand Cru Sparkling Wine 2002 as well as 2007, and at ₤ 100,000 (RM584,693), you can get personal guided tour, tasting and also lunch at Hush Health Estate for two with The Vintner.

This card comes with a ₤ 30,000 (RM175,408) each month investing restriction, however you can constantly raise it by speaking with the bank. The annual fee is ₤ 350 (RM2,046), which is almost a take compared to other cards in this group. This card isn't actually constructed from silk, however, but it is influenced by silk patterns from Chinese tapestries.

5. Citibank Ultima Infinite Citibank Ultima Card

If you think all these cards are quite out of your reach, geographically, here is something a little closer to residence. The Citibank Ultima Infinite, is used in Singapore, India, the UAE, and also Hong Kong. Like any special cards, this card is invite-only for the richest Citibank clients, and also is the first exclusive card to be initial supplied in Asia!

When it was initial launched, it was targeted to consumers in Singapore who were gaining at least S$ 350,000 a year, however they altered this to consumers with minimum assets of S$ 5 million (RM13,955,463) when they relaunched in 2010. In Singapore, the yearly fee of this card is S$ 3,888 (RM10,852), believed to be a lucky number. In Hong Kong, it's, HK$ 23,800 (RM11,552).

To cater to their cardholders' requirements, they obtain a devoted Lifestle Manager each, who can aid you with booking travel, getting tickets to special occasions, and various other prestigious rewards. If that's not good enough, your card will certainly also be hand-delivered to you by your Way of living Manager, where he will certainly have a conversation with you to recognize your requirements. Based on that, they can suggest occasions or chances that cater to your interests.

The advantages differ from nation to nation. In Hong Kong, you obtain 120,000 Asia Miles annually, which is enough for a round-trip business-class ticket from Hong Kong to London (valued at RM27,919). And also you get free green charges on a few of the region's finest golf courses. Not also shoddy.

These cards and also their great rewards might be desire or life objectives for most of us normal people. For us, the regular cards with advantages that match our way of lives will do simply fine.

Exactly how do you obtain a Centurion Card? The annual cost, according to Dr Credit rating Card, is a monstrous US$ 595 (RM2,239)!

A fee card, the Silk Card gives access to a first-rate attendant solution, to assist make your life less complicated in every possible means. The yearly cost is ₤ 350 (RM2,046), which is virtually a take compared to other cards in this classification. Like any special cards, this card is invite-only for the wealthiest Citibank customers, as well as is the first special card to be very first offered in Asia!

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marcusssanderson · 6 years ago

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10 Best Business Books That Will Develop Your Success Mindset

We had a lot of fun creating this reading list of best business books for our fabulous readers at Everyday Power Blog.

It was my 6th-grade teacher, Mr. Bryan Devine, who was the first to instill a love of reading in my psyche as a young child.

Fast forward a few decades, and we’ve built a culture at Red Stag Fulfillment that not only encourages, but requires consistent reading within our management team.

In the same way that our company aggressively pursues continuous improvement in our fulfillment operations, we equally value improvements for the individual.

Here are 10 best business books whose concepts reach far beyond the boardroom.

Business Books That Will Develop Your Success Mindset

1) Great by Choice, Jim Collins

Great by Choice, Jim Collins

Great by Choice, How to Manage Through Chaos outlines a scientific, data-driven approach to discovering and proving how some leaders thrive through—not on—chaos. In the book, chaos is defined by instability��particularly in the first decade of this century when terrorists attacked, wars ensued, markets crashed, and technology powered forth with relentless advances we had to catch up to. Some of us, including companies, didn’t just survive all this—we thrived on it.

My favorite concept explained in the book that we can all apply to tough situations is “bullets before cannonballs.” It’s strikingly simple: “wise leaders take small steps before making giant leaps.” Bullets are cheap, easy to make, and easy to shoot. By testing out “bullets” or ideas in a low-risk way, you will lose less in desperate times. You also get the chance to see what worked and what didn’t before you break out the big guns—or cannons. Use this in business and life to leverage more out of tough situations, and know when it’s time to fire a big investment.

Quotes from this business book:

“When [what you are deeply passionate about, what you can be best in the world at and what drives your economic engine] come together, not only does your work move toward greatness but so does your life. For, in the end, it is impossible to have a great life unless it is a meaningful life. And it is complicated to have a meaningful life without meaningful work. Perhaps, then, you might gain that rare tranquility that comes from knowing that you’ve had a hand in creating something of intrinsic excellence that makes a contribution. Indeed, you might even gain that deepest of all satisfactions: knowing that your short time here on this earth has been well spent and that it mattered.” ― James C. Collins

“Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline.” ― James C. Collins

“Great vision without great people is irrelevant.” ― James C. Collins

2) The 4-Hour Work Week, Tim Ferris

The 4-Hour Work Week, Tim Ferris

This is a book that’s been touted as a life-changer because it does more than explain how the “new rich” are doing it. This book takes you by the shoulders and shakes you—waking you up from your 9-to-5 nightmare—and shows you how you can live your financially stable dreams.

Quotes from this business book:

“Being busy is a form of laziness–lazy thinking and indiscriminate action” might be one of the best takeaways from this read. Ferris explains that it’s about getting away from the busywork and maximizing your time and potential by focusing on the bigger picture. I think we could all use this reminder in our daily business and personal lives.

“For all of the most important things, the timing always sucks. Waiting for a good time to quit your job? The stars will never align and the traffic lights of life will never all be green at the same time. The universe doesn’t conspire against you, but it doesn’t go out of its way to line up the pins either. Conditions are never perfect. “Someday” is a disease that will take your dreams to the grave with you. Pro and con lists are just as bad. If it’s important to you and you want to do it “eventually,” just do it and correct course along the way.” ― Timothy Ferriss

“But you are the average of the five people you associate with most, so do not underestimate the effects of your pessimistic, unambitious, or disorganized friends. If someone isn’t making you stronger, they’re making you weaker.” ― Timothy Ferriss

“A person’s success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have.” ― Timothy Ferriss

3) Good to Great, Jim Collins

Good to Great, Jim Collins

Good to Great, Why Some Some Companies Make the Leap…and Others Don’t is the summation of a major scientific study incorporating 1,435 companies. However, this book isn’t just analysis—it’s groundbreaking research that’s tearing down barriers and debunking myths. What Collins figured out is that money can’t buy greatness.

Instead, it’s: “Disciplined Thought, Disciplined People, and Disciplined Action” that leads to not just successful, but truly great companies. Collins explains that it’s not extraordinary moments, but down-to-earth pragmatics and commitment from everyone on the ladder that makes a company great. So, get your head out of the clouds, because the answer to greatness is right here in front of you.

Quotes from this business book:

“Think of the transformation as a process of buildup followed by breakthrough, broken into three broad stages: disciplined people, disciplined thought, and disciplined action. Within each of these three stages, there are two key concepts, shown in the framework and described below. Wrapping around this entire framework is a concept we came to call the flywheel, which captures the gestalt of the entire process of going from good to great.” ― James C. Collins

“Perhaps your quest to be part of building something great will not fall in your business life. But find it somewhere. If not in corporate life, then perhaps in making your church great. If not there, then perhaps a nonprofit, or a community organization, or a class you teach. Get involved in something that you care so much about that you want to make it the greatest it can possibly be, not because of what you will get, but just because it can be done.” ― James C. Collins

“The good-to-great companies made a habit of putting their best people on their best opportunities, not their biggest problems. The comparison companies had a penchant for doing just the opposite, failing to grasp the fact that managing your problems can only make you good, whereas building your opportunities is the only way to become great. There is an important” ― James C. Collins

4) Think & Grow Rich, Napoleon Hill

Think & Grow Rich, Napoleon Hill

This book is an inspirational powerhouse. Packed with sharp points and secrets to success, Think & Grow Rich helps you realize that you’ve actually had the power inside you all along. So pick it up and read it; then reread it, because the principles of this book are timeless and sure to help you out of any rut.

“If you think you are beaten, you are. If you think you dare not, you don’t. If you like to win but think you can’t, it’s almost certain you won’t.” Take this advice to heart, and then run with it.

Quotes from this business book:

The starting point of all achievement is DESIRE. Keep this constantly in mind. Weak desire brings weak results, just as a small fire makes a small amount of heat.” ― Napoleon Hill

“You are the master of your destiny. You can influence, direct and control your own environment. You can make your life what you want it to be.” ― Napoleon Hill

“Before success comes in any man’s life, he is sure to meet with much temporary defeat, and, perhaps, some failure. When defeat overtakes a man, the easiest and most logical thing to do is to quit. That is exactly what the majority of men do. More than five hundred of the most successful men this country has ever known told the author their greatest success came just one step beyond the point at which defeat had overtaken them.” ― Napoleon Hill

More amazing business books

5) Seven Laws of Higher Prosperity, Cecil Kemp

Seven Laws of Higher Prosperity, Cecil Kemp

Set in the inviting tone of a story, rather than a manifesto, the Seven Laws of Higher Prosperity challenges you to examine the characters at hand to figure out which one you are, and why success may be eluding you. This book captures the heart, intrigues the soul, and ignites the mind.

Inside the pages, you’ll be inspired by lessons on life and finance that will change your outlook, and hopefully your actions. This book is a mixture of your spiritual guru and your wise, accountant friend telling you how to pull it together, in an inspirational way, of course.

6) The Science of Success, Charles Koch

The Science of Success, Charles Koch

If you enjoyed your socioeconomics classes, then you’re sure to enjoy The Science of Success. Renowned businessman, Charles Koch, introduces and explains his principles of Market Based Management (MBM) to help readers develop a new way of thinking that will help them make good decisions in life and business. Business books such as this one are always instant classics.

Based on the “Science of Human Action” (vision, virtue, knowledge, decision rights, and incentive), this is by no means a how-to book. Koch instead takes his readers on an observational and philosophical journey to see what has fascinated him and shaped his mindset. This is the guy whose mind you want to get into.

Quotes from this business book:

“Those who favor a “grand plan” over experimentation fail to understand the role that failed experiments play in creating progress in society. Failures quickly and efficiently signal what doesn’t work, minimizing waste and redirecting scarce resources to what does work. A market economy is an experimental discovery process, in which business failures are inevitable and any attempt to eliminate them only ensures even greater failures.” ― Charles G. Koch

“My lessons weren’t specific to business, but they were fundamental values—integrity, humility, responsibility, work ethic, entrepreneurship, a thirst for knowledge, the desire to make a contribution, and concern for others—that profoundly influenced the way I do business and live my life to this day.” ― Charles G. Koch

“To succeed, a business must not only develop profit and loss measures, but also determine their underlying drivers, in order to understand what is adding value, what is not, and why. This knowledge informs its vision and strategies, leads to innovations, creates opportunities to eliminate waste, and guides continuous improvement.” ― Charles G. Koch

7) Rich Dad, Poor Dad, Robert Kiyosaki

Rich Dad, Poor Dad, Robert Kiyosaki

Kiyosaki’s book provides a unique perspective that will help you think differently about your finances, and education itself. You’ll walk away from this book still gripping the last pages, and clutching onto the new, but simple idea that: “The poor and middle class work for money. The rich have money work for them.”

You’ll soon learn that it’s all about assets and letting your money work for you, instead of working for it. You’ll also put it down cursing not just our education system, but our society, for putting the value on the now rather than the future. Okay, I’m not giving any more away. Pick up this best-seller and see for yourself.

Quotes from this business book:

“In school we learn that mistakes are bad, and we are punished for making them. Yet, if you look at the way humans are designed to learn, we learn by making mistakes. We learn to walk by falling down. If we never fell down, we would never walk.” ― Robert T. Kiyosaki

“Winners are not afraid of losing. But losers are. Failure is part of the process of success. People who avoid failure also avoid success.” ― Robert T. Kiyosaki

“You’re only poor if you give up. The most important thing is that you did something. Most people only talk and dream of getting rich. You’ve done something.” ― Robert T. Kiyosaki

8) Rich Dad’s Guide to Investing, Robert Kiyosaki

Rich Dad’s Guide to Investing, Robert Kiyosaki

A real guide, and the third in Kiyosaki’s “Rich Dad” trilogy, this book aims to guide readers to financial freedom with active investing.

Once again using the stories of his main protagonists, Rich Dad and Poor Dad, Kiyosaki helps readers realize their full potential by understanding the basic rules for investing.

Not a guarantee, but definitely a guide to achieving financial freedom, this book helps us laymen understand how and why the rich are getting richer.

Quotes from this business book:

“He said it was better to work years at creating an asset rather than to spend your life working hard for money to create someone else’s asset.” ― Robert T. Kiyosaki

“As Winston Churchill said, “Success is the ability to go from one failure to another with no loss of enthusiasm.” ― Robert T. Kiyosaki

“It’s not what we say out loud that determines our lives. It’s what we whisper to ourselves that has the most power.” ― Robert T. Kiyosaki

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samuelsenoneal0-blog · 6 years ago

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Find out how to Secure A Loan With Unhealthy Credit score

How one can Safe A Mortgage With Dangerous Credit score

Whole thing reminds me of that SNL skit about the bank that only makes change. "How do you make money doing this?" "Volume."

— Jason Hancock (@J_Hancock) October 29, 2017

This wouldn't be easy for younger people who simply started out of their careers however is unquestionably a consideration when we have now extra link money. The people in this country are taxed to the Max. In Asia, folks do not schedule main life occasions with out first checking to see whether a certain date is auspicious — with the planets aligned in your favor for a sure event. The concept of a free, interest checking account is almost unheard of these days and exhausting to show down. In fact, it may even assist sick or bleeding firms get back on observe by offering recommendation on how to enhance their financial place and what could be completed to turn losses into earnings. As a new starter you may expect around 23 days vacation a 12 months and this will rise to 30 days after you’ve been there some time. A house will generally hold (or enhance) its worth, while a car will almost all the time lose its value the longer you own it. While we could not need a department for many day-to-day banking, many customers still want the option, particularly for extra complicated transactions. Chances are you'll find that you just want to cut back more so as to accomplish what must be done.

The size of time it takes to purchase a automotive typically hinges on whether or not they've to seek out financing for you or not. Try to find only about ten you like to stick with to save lots of time. Coinstar near LaFayette It looks like we've created a system by which no one is deemed certified. Demat Account appears like a bank account and this conversion course of is identical as conversion of paper money into electronic bank account. When you have entry to a branch location, BBVA Compass Bank’s Clear Join account offers an incredible combination of on-line comfort and in-person customer service for small business owners—particularly of retail companies who might must course of money transactions. We've got the most recent equipment, aggressive pricing and a fantastic gift card program for your online business. Month-to-month statement of Elite Club Account Card, Peony Quasi Bank card or Dual-currency Bank card are supplied mechanically once signing up for Web Banking.

Or mail packing containers crowded with card affords. For example, if you'll open an account with a industrial bank, as a part of the bank’s advisory services it presents to prospects, you’d be suggested whether to open a financial savings account or a current account. Name round to see which bank offers incentives for accounts for infants. The top online banks supply a range of banking services and protect your money with the identical protocols as your neighborhood bank. If the sale worth of the automobile doesn't totally cover those prices or pay off your outstanding loan quantity entirely, then you should have to repay the bank for the remaining quantities owed. Your credit file acts as a manner on your potential lender to know whether or not you'll pay back your loan, in addition to your revenue and debts.

If you work throughout the day and don’t get time to go to anyplace to obtain cash, you don’t want to fret as you can apply for them via online means. I imagine I have come up with a method to cut back unneeded labor expenditures, when they are not essential. When researching the mortgage, it will be significant to think about not merely the particular mortgage rate, even so the skilled ideas and restore you actually need to have through a highly skilled mortgage broker. The standards for production benchmade knives, even the nicest ones, varies significantly. Even when planning is accomplished, the usual result is incomplete and fragmented. Ally prides itself on offering the highest stage of customer service, even with out branch areas, thanks to their assist staff in addition to their leading-edge expertise. The borrowers' online profiles can present their monetary strengths in addition to obligations together with their monthly revenue and bills.

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nicholemhearn · 6 years ago

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Whither Algorithmic Accountability?

In an op-ed for The Wall Street Journal last year, Curt Levey, president of the Committee for Justice, and Ryan Hagemann, the Niskanen Center’s senior director for policy, dissected the confusing debate surrounding calls for algorithmic “transparency.” They concluded that arguments in favor of making artificial intelligence (AI) systems more transparent, though well-intentioned, were unlikely to produce the outcomes that advocates sought. Instead, they offered a solution that could better balance consumer protection and innovation: algorithmic “accountability.”

In a new report by the Center for Data Innovation (CDI), Joshua New and Daniel Castro make a similar case for prioritizing algorithmic accountability over algorithmic transparency. In the ongoing debate over how, whether, and when to regulate AI, this report pushes the conversation forward in a substantive and thoughtful manner, and adds considerable meat to the bones of Levey’s and Hagemann’s op-ed.

As defined in the CDI framework, “accountability” means that the people who are held responsible for the decisions an algorithm makes are not the software engineers who developed it (the “developers”), but those who actually deploy it (the “operators”). These operators have a duty to incorporate proper controls and best practices during the deployment of the system. Since they are ultimately in control of how an AI is deployed and used, operators, not developers, should be held primarily liable for situations in which the use of such systems results in significant consumer harm.

By contrast, “transparency” requirements – when defined at all – would inevitably require organizations to expose proprietary source-code and data that inform algorithmic decision-making. This seemingly virtuous idea has two problems. First, a machine-learning algorithm is not necessarily comprehensible even when you can inspect all its code and data. Second, the algorithms themselves are the result of significant financial investment and their exposure could lead to intellectual-property theft and a decline in future research and development.

New and Castro use the case of Google’s PageRank algorithm to demolish the argument that transparency requirements would have little to no negative effect on private companies. Search engine optimization (SEO) is already estimated to be a $65 billion industry without transparency regulations in place. Imposing new requirements on Google to reveal how its algorithms work could allow them to be gamed at a whole new level — harming consumers with lower-quality search results and ultimately reducing Google’s profitability and incentives to continue innovating.

The report also does a good job showing that in many situations, a machine-learning algorithm is only as biased as the training data it is given. For example, an algorithm will perpetuate discriminatory decisions in the judicial system if it is given a historical data set chock-full of racist human decisions. Developers need to be cognizant of which data sets are training their algorithms, and operators need to be aware of the outcomes they are optimizing.

As the authors note, in many sectors, such as housing and finance, there are already laws on the books that prohibit discrimination and disparate impact. These same laws, which are already applied to human decisions, can and should be applied to algorithmic decisions as well. There is no new technology-specific regulation needed to address harms that can already be addressed by existing rules.

While New and Castro note the prevalence of failures in human decision-making, there are powerful examples that could have been more explicitly addressed in the report. For instance, they briefly mention motor vehicle fatalities, but it would have been valuable to take a deeper dive into this case study and consider the potential costs of transparency requirements that could unintentionally delay the introduction of driverless cars. In 2016, the most recent year for which we have official data, human drivers in the United States caused more than 37,000 deaths. Do we need to wait until the algorithms used in autonomous vehicles are proven to have a zero fatality rate, or can they be deployed after showing that they are safer than the status quo? Thousands of lives hang in the balance of this question.

It also would have been useful to spend time explaining the differences among AI, machine learning, and deep learning, as these terms are also widely misused in public discussion. As the chart below from Nvidia shows, these are embedded categories. Most of the public’s fears can be more narrowly attributed to deep learning — algorithms that essentially write themselves based on input data and are often abstruse, even to their developers.

Source: Michael Copeland, “What’s the Difference Between Artificial Intelligence, Machine Learning, and Deep Learning?” Nvidia blog, 29 July 2016.

Clarifying the terminology can help steer regulatory attention to those areas of AI that may implicate significant injuries for consumers, and away from perceived or hypothetical harms that are in fact benign.

The authors also introduce a novel flowchart to show how a regulator could impose penalties on algorithm operators. In a sense, they’ve constructed what a Regulator’s Neural Network might look like when determining the existence and magnitude of an algorithmic harm. While this diagram is excellent at explaining how regulators should discipline operators after a consumer injury has been established, it is also worthwhile to consider how regulators and industry, acting separately or in collaboration, might incorporate best practices for algorithmic accountability in advance of potential harms.

Source: Joshua New and Daniel Castro, How Policymakers Can Foster Algorithmic Accountability (Washington, D.C., Brussels: Center for Data Innovation, 21 May 2018): p. 26.

At a very high level, we could consider two important variables in algorithmic decision-making that may influence expectations for what constitutes best practices. First, the complexity of the algorithm itself. While an algorithm’s complexity isn’t necessarily a limiting factor in verifying a given outcome (after all, the outcome is simply what is observed, and doesn’t necessitate understanding the operations of the neural network or its decision-making matrix/framework), a more complicated algorithm does make it more difficult to reach an acceptable level of explainability. Second, the importance of the algorithmic decision. A highly consequential algorithmic decision almost certainly requires a heightened assurance of various accountability measures being in place, such as ensuring maximal explainability and procedural regularity.

As the box chart below shows, for unimportant decisions based on algorithms with any level of complexity, there is likely no need to impose new regulations or restrictive standards on either operators or developers. In cases where the decision is important but the algorithm is relatively simple, there may be value in providing some explanation for how the algorithm made its decision. In situations where the decision is important and the algorithm is complex, mandates for confidence measures, proof of procedural regularity, or error analysis might be necessary.

Source: Niskanen Center. (Note: This analysis is a work in progress, and feedback on both the variables and framework are more than welcome.)

As Vijay Pande, a general partner in venture capital firm Andreessen Horowitz, reminds us, “the black box in A.I. isn’t a new problem due to new tech: Human intelligence itself is — and always has been — a black box.” There are simply too many benefits of AI to stifle its development with prescriptive, technology-specific transparency requirements that we are neither able nor willing to impose on human intelligence. Narrowly-targeted accountability requirements, by contrast, will go a long way to mitigating the worst of its potential harms. In this vein, New and Castro’s report makes a compelling case for using the “innovation principle” as opposed to the “precautionary principle” when it comes to regulating algorithms.

The post Whither Algorithmic Accountability? appeared first on Niskanen Center.

from nicholemhearn digest https://niskanencenter.org/blog/whither-algorithmic-accountability/

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opticien2-0 · 7 years ago

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GUEST OPINION Top tips to turn your personalisation efforts into solid ROI

Simon Farthing, Director of Global Strategy and Insights at Monetate takes a timely look at how to actually turn personalisation into something that directly produced revenue

Marketers acknowledge the value of personalising content and communications: it increases loyalty, drives higher conversions and grows revenue. Despite this consensus, the journey to true 1-to-1 personalisation can appear daunting from the outset.

While there may be challenges associated with the implementation process, it’s often lack of knowledge and fear of the unknown that hold teams back from moving beyond optimisation to create truly personal experiences. You can skirt this impediment by arming yourself with an understanding of the types of obstacles that businesses typically face – they might not be what you expect – and proven strategies for overcoming them.

Know your organisation – and its potential complications

While teams may fixate on hurdles like data integration or automating at scale, it’s equally critical to plan for organisational challenges. In fact, the study found that 91 per cent of senior marketers cite organisational constraints as among the biggest obstacles to surpassing segmentation. For example, departmental silos can make it difficult to earn and sustain commitment from important stakeholders, and to hold people to account for meeting personalisation goals. Ultimately, it’s how you address those obstacles that will determine your success: most likely, the personalisation provider that you choose can help you navigate the technical challenges of implementation, but only someone with a deep understanding of the structure and culture of your business – that’s you – can anticipate the factors that will be most crucial to the success of your personalisation strategy.

Create a consistent cross-channel experience

A further barrier to delivering a more relevant, engaging personalised experience is the ability to create cross-channel consistency: 41 per cent of brands cite an inability to synchronise customer experience across channels and devices. This is not only frustrating for customers who want to shop from multiple devices, but has a detrimental effect on overall ROI. Your messaging only reaches its fullest impact when it is personalised for each customer across all of their interactions with you, no matter the channel.

Segmentation still delivers impact

For those that are able to successfully segment different customer groups, financial rewards await. Premium grocery retailer Waitrose has seen an increase in online orders by 24 per cent year-on-year since implementing a personalisation strategy that allows new and existing customers to be targeted with different experiences when they visit the site. Implementing a personalisation strategy has not only allowed the brand to remain a key competitor in the thriving grocery market, but means that their reputation for customer experience is continued online too.

Top takeaways: Concrete steps to maximise your ROI

We’ve seen the results of personalisation at companies like Amazon, Newegg and JD Williams, who have moved above and beyond segments to offering much more individualised experiences. However, only six per cent of organisations report that they are advanced in implementing their personalisation strategy. Given the clear commercial benefits, it’s more important than ever to address the organisational challenges that hinder progress. iThe following tips can help turn your personalisation efforts into a solid return on investment (ROI):

Measurement – Using a system for measuring personalisation pays off in both revenue and profitability. Those who receive the most ROI from their personalisation efforts are also the biggest profitability winners. The study showed that 88 per cent of those that exceeded revenue expectations have personalisation measurement systems in place – this is compared to only 42 per cent that missed goals and 47 per cent that met them. Moreover, 95 per cent of those that get 3x+ ROI from their personalisation efforts also increased profitability overall as a business.

Documented strategy – Documentation has a direct correlation to an organisation’s commitment to a personalisation strategy and its subsequent success. 79 per cent of businesses that exceeded revenue goals have a documented personalisation strategy, compared to only 31 per cent of those that met goals and eight per cent of those that missed revenue goals.

Dedicated resources – You might expect that companies with the highest percent of people dedicated to personalisation would have the highest rates of success. In fact, the opposite is true. Nearly half, 48 per cent, of those that exceeded revenue goals don’t have a dedicated person on personalisation, compared to 23 per cent for those that met and 17 per cent for those that missed their revenue goals. At first this sounds shocking, but it is, in fact, a reflection of their maturity: it’s a sign that those organisations have moved away from experimenting with personalisation, and have ingrained the practice throughout the operation as a normal course of business. The most successful businesses view personalisation not as a side project, but as an integrated part of their ecommerce and marketing operations. It is a charter for everyone, not just someone.

Financial incentives & budget allocation – Nothing communicates organisational priority like clear dedication of finances: among the companies represented in the study, those that exceeded revenue goals use financial incentives for personalisation 83 per cent of the time, compared to 23 per cent for those that met and 17 per cent for those that missed revenue goals. A dedicated budget is also an indicator of an organisation’s commitment: companies with a dedicated personalisation budget are the most successful revenue generators, exceeding their goals 83 per cent of the time, compared to 28 per cent for those that met and 33 per cent for those that missed revenue goals. And that budget is increasing at a higher rate than for underperforming peers. 88 per cent of those that exceeded revenue goals are increasing budget for personalisation in 2017 compared to 21 per cent of those that met and 33 per cent of those that missed revenue goals. By budgeting and creating financial incentives related to personalisation, these brands are making it clear to their teams that personalisation is a priority.

If you focus on improving in these areas, you can put your business in a strong position to offer better experiences for customers – and reap the financial benefits that follow. In a competitive market, the battle for ROI is something that brands and retailers alike cannot afford to ignore.

The post GUEST OPINION Top tips to turn your personalisation efforts into solid ROI appeared first on InternetRetailing.

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christophergill8 · 8 years ago

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Oscars, tax breaks and best tax-themed films

When the Academy Awards are handed out Sunday, Feb. 26, it's a good bet that most of the films already were tax winners. They used special tax breaks to help offset their sometimes enormous production costs.

As of Jan. 1, all those credits will come from states.

End of the federal film tax break: The only federal tax incentive designed specifically to keep film and television production in the United States ended when 2017 arrived.

It was part of a group of extenders — temporary tax breaks that must be periodically renewed by Congress — that lawmakers last year decided not to renew.

The law, section 181 of the Internal Revenue Code, reduced investors' risk by allowing a 100 percent loss against taxable income in the year or years the money was spent. For example, a producer or investor in the 30 percent tax bracket who put up $1 million for a film could save $300,000 in taxes.

The deduction was allowed on the first $15 million invested in every qualified project. For shows made in certain low-income areas, the cap increased to $20 million.

In 2015, the same federal tax break was extended to theatrical productions. Thanks, Hamilton.

It's possible that the film and TV tax break, which was enacted as part of the American Jobs Creation Act of 2004 in an effort to stem the stem the flow of shows to foreign countries, could be renewed, either separately or as part of expected tax reform.

It's more likely, however, that with budget hawks, who are looking to trim any and everything, and Donald Trump, who has his own issues with Hollywood, now in charge of shaping U.S. expenditures, the federal film and TV tax incentive will not be revived.

State, local options remain: that means there will be more competition for state tax incentives, which have been around for a quarter century.

The National Conference of State Legislatures provides a brief history —

Louisiana was the first state to adopt state tax incentives for film and television production in 1992. In 2002, Louisiana expanded its program and the state's film industry began to experience strong growth. Other states responded to Louisiana’s success. By 2009, 44 U.S. states, Puerto Rico and Washington D.C. offered some form of film and television production incentives. However, popularity for these programs has waned, and support for the film industry has decreased in recent years. In 2016, only 37 states continue to maintain film incentive programs, and several of these states are tightening the requirements for qualifying expenses and reeling-in per-project and annual program caps.

A count by The Hollywood Reporter in April 2016 shows 33 states, along with Washington, D.C. and Puerto Rico, offer film and TV producers a variety of tax credits, grants, rebates or a combination of the tax breaks.

Many cities also offer additional tax enticements for movie et al makers. Down I-95 from me, San Antonio is adding as much as 7.5 percent in incentives for film projects on top of Texas-offered incentives.

Weighing total cost of movie tax breaks: The key for lawmakers at all levels is finding a way to balance the creative arts' production incentives with the fiscal needs of other state programs.

During the recent recession, that became more difficult, with growing budget deficits forcing many states to reduce or eliminate their film and TV tax incentives.

Others, however, have extended or expanded their tax breaks.

Once the film industry luminaries get past the Oscars, the final and most important event of the current awards season, expect its members to start lobbying for the return of the federal tax credit.

Financial film favorites: While tax breaks for movies, television shows and even video game productions do cost us taxpayers at the state and possibly federal levels, the immediate money matter to us as movie goers is whether our Cineplex ticket price was worth it.

This time of year also generates a lot of discussion about not only the current best movies and performances, but also of classic films.

In advance of the Oscars, FindLaw has been taking to its Twitter account to highlight Hollywood's on-screen connections to attorneys. Most recently, the legal marketing component of Thomson Reuters, directed us to a Business Insider article on what movies get right and wrong about lawyers.

But what caught my eye were FindLaw's polls, like stereotypes of onscreen lawyers and favorite legal classic movie. The results of that last one shocked me.

"Legally Blonde." Really?

My reaction:

Judgy? Yes. But I had some legitimate alternatives. I sent FindLaw my list of best legal movies (they asked!). And it got me thinking about tax-related flicks.

Best tax movies: That social media conversation got me thinking about movies in which taxes played a plot role. Sometimes it was a major creative component. In others, it was a glancing tax mention.

Regardless, to celebrate the 2017 Oscars, here are my favorite movies, in my preferred order, in which a tax matter is part of the plot.

The Shawshank Redemption: Taxes aren't the film's major focus, but Andy Dufresne's knowledge of the tax code helped him survive and -- spoiler alert -- escape prison, first by his helping prison guards and then getting inside the warden's financial double dealing. Plus, it's got a great cast (Morgan Freeman!). Regardless of where Shawshank is in its broadcast, when I run across it on TV, I must watch it to the end.

The Untouchables: This sleek version of mob boss Al Capone's vicious reign and the efforts of a select group of Armani-clad Treasury Department agents to bring him down boasts a cast of three Oscar winners (Robert De Niro as Capone; Kevin Costner as Eliot Ness; and Sean Connery, who snagged his best supporting actor statue as Ness' streetwise lieutenant Jim Malone). There are plenty of shootouts, but the film's most frightening scene may well be the one in which the Untouchables' tax accountant brandishes a Tommy gun.

The Producers: The plot for this zany movie, co-written by comic genius Mel Brooks, is one big giant, funny, zany tax fraud. Down-on-his-luck producer Max Bialystock (Nathan Lane) teams up with timid accountant Leo Bloom (Matthew Broderick) in a get-rich-quick scheme to put on the world's worst show. Three words. "Springtime for Hitler."

Stranger Than Fiction: Will Ferrell plays an IRS auditor who suddenly finds himself the subject of narration only he can hear. The narration, by a writer portrayed by Emma Thompson, begins to affect Farrell's character's entire life, from his work, to his love-interest, to his death. The movie wasn't a commercial success, but I enjoyed it, even Ferrell playing against type. But the movie makers probably would have made more money if they'd come up with a story of the IRS auditing the Talledega Nights drivers.

The Descendants: The plot includes an arcane tax law, the rule against perpetuities, which helped make it a hit with estates and trusts attorneys. Oscar winner George Clooney made it a hit among the general public. The screenplay writers took home an Oscar for their work.

The Firm: In this thriller, based on a book by John Grisham, lawyers deal with taxes and securities for incredibly wealthy and awful people. It has an impressive cast of Oscar winners and nominees, including Tom Cruise, Gene Hackman, Ed Harris, Holly Hunter and David Strathairn, and the late, great Sidney Pollack in the director's chair.

The Blues Brothers: A bit too long, especially for a concept that came out of a Saturday Night Live skit, but the soundtrack alone — Aretha! — gets this on my list. Jack and Elwood spend 2 hours and 13 minutes on a mission from God to raise money to pay taxes on the orphanage where they were raised.

The Mating Game: Yes, I know, you haven't heard of this one, primarily because it was made in 1959. Tony Randall plays a tax collector who heads out to rural Maryland to find out why a farm owner hasn't paid taxes, ever. As he tries to calculate the farm's income, his task is complicated by the lovely farmer's daughter, played by Debbie Reynolds. Hilarity ensues.

The Young Philadelphians: Another cinema classic, also from 1959. (What happening with taxes that year?). A young Paul Newman is an up-and-coming tax lawyer, struggling to climb Philly's Main Line social ladder. The tax connection is overshadowed by themes of class, principle, loyalty and manipulation as Newman's character must move from the Internal Revenue Code to the criminal legal world after his best friend is charged with murder.

Say Anything: Earnest slacker Lloyd Dobler, portrayed by John Cusack, and his boom box have become iconic symbols of devotion. Oh, yeah, the object of his love must deal with her dad going to prison for tax fraud and tax evasion. But that boom box belting out Peter Gabriel's "In Your Eyes." Perfect.

If nothing on the 2017 Oscar list catches your film fancy, consider tracking down one of these 10 tax-related movies.

You also might find these items of interest:

Movie and TV production tax credits, trick or treat?

Did tax credit cut cause Pixar to close its Vancouver office?

Film tax incentives sometimes lead to extra state costs for criminal prosecution

from Tax News By Christopher http://feedproxy.google.com/~r/DontMessWithTaxes/~3/__zPYslPcGM/oscars-tax-breaks-and-best-tax-themed-films-.html

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