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🔗 Computing 🔗 Business 🔗 Computing/Software

The bus factor is a measurement of the risk resulting from information and capabilities not being shared among team members, derived from the phrase "in case they get hit by a bus." It is also known as the bread truck scenario, lottery factor, truck factor, bus/truck number, or lorry factor.

The concept is similar to the much older idea of key person risk, but considers the consequences of losing key technical experts, versus financial or managerial executives (who are theoretically replaceable at an insurable cost). Personnel must be both key and irreplaceable to contribute to the bus factor; losing a replaceable or non-key person would not result in a bus-factor effect.

The term was first applied to software development, where a team member might create critical components by crafting code that performs well, but which also is unavailable to other team members, such as work that was undocumented, never shared, encrypted, obfuscated, unpublished, or otherwise incomprehensible to others. Thus a key component would be effectively lost as a direct consequence of the absence of that team member, making the member key. If this component was key to the project's advancement, the project would stall.

🔗 Finance & Investment 🔗 Economics 🔗 Business

The Hindenburg Omen was a proposed technical analysis pattern, named after the Hindenburg disaster of May 6, 1937. It was created by Jim Miekka, who believed that it portended a stock market crash.

🔗 United States 🔗 Biography 🔗 Canada 🔗 Business

Herbert Henry Dow (February 26, 1866 – October 15, 1930) was a Canadian-born American chemical industrialist, best known as the founder of the American multinational conglomerate Dow Chemical. He was a graduate of Case School of Applied Science in Cleveland, Ohio. He was a prolific inventor of chemical processes, compounds, and products, and was a successful businessman.

🔗 Economics 🔗 Business 🔗 Sociology 🔗 Occupations

This is a category of jobs that have been rendered obsolete due to advances in technology and/or social conditions.

🔗 Korea 🔗 Business 🔗 Japan 🔗 Japan/Business and economy

Simultaneous recruiting of new graduates or periodic recruiting of new graduates (新卒一括採用, Shinsotsu-ikkatsu-saiyō) is the custom that companies hire new graduates all at once and employ them. This custom was unique to Japan and South Korea. A 2010 age discrimination law enforced in South Korea bans employers from discriminating against job-seekers who have not recently graduated from high school or university. Japan is now the only country practising this custom; however, in 2018, the Japan Business Federation (Keidanren) announced that its 1,600 member companies, which represent a large portion of Japan's big business companies, would no longer be required to follow the custom from 2020 onwards.

🔗 International relations 🔗 Technology 🔗 Internet 🔗 Computing 🔗 Computer science 🔗 Law 🔗 Business 🔗 Politics 🔗 Robotics 🔗 International relations/International law 🔗 Futures studies 🔗 European Union 🔗 Science Policy 🔗 Artificial Intelligence

The Artificial Intelligence Act (AI Act) is a European Union regulation concerning artificial intelligence (AI).

It establishes a common regulatory and legal framework for AI in the European Union (EU). Proposed by the European Commission on 21 April 2021, and then passed in the European Parliament on 13 March 2024, it was unanimously approved by the Council of the European Union on 21 May 2024. The Act creates a European Artificial Intelligence Board to promote national cooperation and ensure compliance with the regulation. Like the EU's General Data Protection Regulation, the Act can apply extraterritorially to providers from outside the EU, if they have users within the EU.

It covers all types of AI in a broad range of sectors; exceptions include AI systems used solely for military, national security, research and non-professional purposes. As a piece of product regulation, it would not confer rights on individuals, but would regulate the providers of AI systems and entities using AI in a professional context. The draft Act was revised following the rise in popularity of generative AI systems, such as ChatGPT, whose general-purpose capabilities did not fit the main framework. More restrictive regulations are planned for powerful generative AI systems with systemic impact.

The Act classifies AI applications by their risk of causing harm. There are four levels – unacceptable, high, limited, minimal – plus an additional category for general-purpose AI. Applications with unacceptable risks are banned. High-risk applications must comply with security, transparency and quality obligations and undergo conformity assessments. Limited-risk applications only have transparency obligations and those representing minimal risks are not regulated. For general-purpose AI, transparency requirements are imposed, with additional evaluations when there are high risks.

La Quadrature du Net (LQDN) stated that the adopted version of the AI Act would be ineffective, arguing that the role of self-regulation and exemptions in the act rendered it "largely incapable of standing in the way of the social, political and environmental damage linked to the proliferation of AI".

🔗 United States 🔗 Aviation 🔗 Military history 🔗 Military history/Military aviation 🔗 Military history/North American military history 🔗 Military history/United States military history 🔗 Crime 🔗 Business 🔗 Politics 🔗 Military history/German military history 🔗 Military history/Dutch military history 🔗 Japan 🔗 Japan/Japanese military history 🔗 Military history/Asian military history 🔗 Military history/Japanese military history 🔗 Military history/Italian military history 🔗 Japan/Politics 🔗 Military history/European military history

The Lockheed bribery scandals encompassed a series of bribes and contributions made by officials of U.S. aerospace company Lockheed from the late 1950s to the 1970s in the process of negotiating the sale of aircraft.

The scandal caused considerable political controversy in West Germany, Italy, the Netherlands and Japan. In the U.S., the scandal nearly led to Lockheed's downfall, as it was already struggling due to the commercial failure of the L-1011 TriStar airliner.

🔗 Technology 🔗 Law 🔗 Business 🔗 Occupational Safety and Health

A stenotype, stenotype machine, shorthand machine or steno writer is a specialized chorded keyboard or typewriter used by stenographers for shorthand use. In order to pass the United States Registered Professional Reporter test, a trained court reporter or closed captioner must write speeds of approximately 180, 200, and 225 words per minute (wpm) at very high accuracy in the categories of literary, jury charge, and testimony, respectively. Some stenographers can reach 300 words per minute. The website of the California Official Court Reporters Association (COCRA) gives the official record for American English as 375 wpm.

The stenotype keyboard has far fewer keys than a conventional alphanumeric keyboard. Multiple keys are pressed simultaneously (known as "chording" or "stroking") to spell out whole syllables, words, and phrases with a single hand motion. This system makes real-time transcription practical for court reporting and live closed captioning. Because the keyboard does not contain all the letters of the English alphabet, letter combinations are substituted for the missing letters. There are several schools of thought on how to record various sounds, such as the StenEd, Phoenix, and Magnum Steno theories.

🔗 Books 🔗 Business

The 48 Laws of Power (1998) is a non-fiction book by American author Robert Greene. The book is a bestseller, selling over 1.2 million copies in the United States, and is popular with prison inmates and celebrities.

🔗 Philosophy 🔗 Philosophy/Logic 🔗 Business 🔗 Politics 🔗 Psychology 🔗 Politics/Corporatism

Groupthink is a psychological phenomenon that occurs within a group of people in which the desire for harmony or conformity in the group results in an irrational or dysfunctional decision-making outcome. Cohesiveness, or the desire for cohesiveness, in a group may produce a tendency among its members to agree at all costs. This causes the group to minimize conflict and reach a consensus decision without critical evaluation.

Groupthink requires individuals to avoid raising controversial issues or alternative solutions, and there is loss of individual creativity, uniqueness and independent thinking. The dysfunctional group dynamics of the "ingroup" produces an "illusion of invulnerability" (an inflated certainty that the right decision has been made). Thus the "ingroup" significantly overrates its own abilities in decision-making and significantly underrates the abilities of its opponents (the "outgroup"). Furthermore, groupthink can produce dehumanizing actions against the "outgroup". Members of a group can often feel peer pressure to "go along with the crowd" in fear of rocking the boat or of what them speaking up will do to the overall to how their teammates perceive them. Group interactions tend to favor, clear and harmonious agreements and it can be a cause for concern when little to no new innovations or arguments for better policies, outcomes and structures are called to question. (McLeod). Groupthink can often be referred to as a group of “yes men” because group activities and group projects in general make it extremely easy to pass on not offering constructive opinions.

Some methods that have been used to counteract group think in the past is selecting teams from more diverse backgrounds, and even mixing men and women for groups (Kamalnath). Groupthink can be considered by many to be a detriment to companies, organizations and in any work situations. Most positions that are senior level need individuals to be independent in their thinking. There is a positive correlation found between outstanding executives and decisiveness (Kelman). Groupthink also prohibits an organization from moving forward and innovating if no one ever speaks up and says something could be done differently.

Antecedent factors such as group cohesiveness, faulty group structure, and situational context (e.g., community panic) play into the likelihood of whether or not groupthink will impact the decision-making process.

Groupthink is a construct of social psychology, but has an extensive reach and influences literature in the fields of communication studies, political science, management, and organizational theory, as well as important aspects of deviant religious cult behaviour.

Groupthink is sometimes stated to occur (more broadly) within natural groups within the community, for example to explain the lifelong different mindsets of those with differing political views (such as "conservatism" and "liberalism" in the U.S. political context ) or the purported benefits of team work vs. work conducted in solitude. However, this conformity of viewpoints within a group does not mainly involve deliberate group decision-making, and might be better explained by the collective confirmation bias of the individual members of the group.

Most of the initial research on groupthink was conducted by Irving Janis, a research psychologist from Yale University. Janis published an influential book in 1972, which was revised in 1982. Janis used the Bay of Pigs disaster (the failed invasion of Castro's Cuba in 1961) and the Japanese attack on Pearl Harbor in 1941 as his two prime case studies. Later studies have evaluated and reformulated his groupthink model.