As a result of enormous recent technological advances, we are now living in what’s known as the fourth industrial revolution – a period of digital transformation that’s affecting the way we live and radically disrupting the business sector.
Technology such as the Internet of Things (IOT), Artificial Intelligence (AI) and cloud computing are becoming the norm across most modern organisations and influencing everything from manufacturing to communications and job roles. One area where these changes are prevalent is the marketing industry.
The field of marketing is highly varied and covers areas such as creativity and design, data analysis and interpretation, content creation and an understanding of human behaviour and psychology. The first areas impacted by AI were based on fundamental or repetitive tasks, such as data reporting. As AI evolved, so did its abilities to tackle complex challenges, especially those within the fields of creativity, predictive analysis and behaviour recognition.
AI has helped to automate many functions within marketing, freeing up valuable time and resources for creativity and strategy. AI’s ability to rapidly process large volumes of data, generate reports and provide insights into future trends and behaviours has enabled marketers to make better informed decisions and personalise content towards customers preferences.
Automated content and image creation are now becoming mainstream in marketing, social media, email and advertising campaigns. Websites and Search Engine Optimisation (SEO) are also benefiting from AI insights to help determine what content and search terms resonate best with potential customers.
The advancement of AI is rapid. Government laws and policies are rapidly changing to keep up to date with this pace of change. While it is clear AI provides enormous benefits to marketers, it is also clear that its higher end capabilities remain quite limited.
AI is based on machine learning and relies on historic data in its decision making. It is highly intelligent at making rapidly informed decisions but cannot take a holistic approach to its work or provide real-time insights. In essence, it cannot currently be truly creative.
Google, which ranks websites in search engines based on their ‘helpfulness’ to users, will eventually catch-up to AI-written content and then demand content be more unique, informative and personable to be ranked highly. Additionally, it is worth considering that sudden changes such as the disruption from COVID-19 could not have been predicted by AI and required the creative and objective decision making of humans to navigate.
AI has streamlined working practices, created new job opportunities and enhanced job capabilities. It is unlikely to replace roles but complement and evolve them. As technology advances, so must the skills and capabilities of marketers to meet this evolving landscape.
You can find out more about marketing, business activity and the changing environment with Oxford Open Learning’s flexible Business IGCSE or A-Level accredited distance learning courses. Get in touch to find out more.
Perfectionism is not, in and of itself, a negative trait. Perfectionists are often conscientious high achievers; our greatest weakness is also our greatest strength. But those trying to be constantly perfect can find that every task feels like an unconquerable burden and every essay a path to failure, however unlikely our friends and family might find our doom-laden predictions. Here are three thoughts to use to beat the unrealistic idealism that may currently be beating you.
What is perfect, anyway? Maybe you could decide. Perhaps perfection could simply mean sitting down at your messy desk, ignoring the clothes on the floor, and spending 10 minutes planning the first half of your essay. In this deeply imperfect and challenging world, if you were to be reasonable with yourself, your definition of perfect should, and could, be different. Redefine perfection: make it doable and make it your own.
A to-do list is a depressing sight, if, at every item, we are telling ourselves that we ‘have to’ or ‘must’ do this or that. But turn ‘have to’ into ‘get to’ and suddenly life seems more joyful. Perhaps it is an irritating piece of advice, an unwelcome call to simply have more gratitude, but studying is essentially an overwhelmingly positive thing. You are learning and growing, and you have access to great materials and educated teachers; you are lucky. And so, even if it feels at first like you are lying to yourself, tell yourself, next time you inspect your to-do list: “I get to plan my essay today”.
We will do it, but we are waiting for the perfect time when we are in the mood. Because we know we can do it well, and not just well but REALLY well. And so that is the aim. This isn’t laziness, for the fear is real: we cannot bear to submit anything less than our best; we cannot tolerate failure; and we want to be proud of what we have achieved. We have visualised (or we think we have) the perfect essay or assignment. But the truth is that you have a deadline. Perhaps you could achieve perfection if you had eternity to complete it. But you don’t. Most tasks have a timeline, whether it is 6 years to complete a part-time PhD, or one night to finish an essay. And the test is not what you can achieve, but what you can achieve in the time you have to complete it. The definition of perfect might simply be this: finished.
The risk of a global recession in 2023 has risen, according to a recent report by the World Bank. This development could have significant long-term implications for the global economy and society. In this article, we will explore how the possibility of a recession could contribute to the legacy of the current financial crisis around the world.
One of the most immediate effects of a potential recession, as we have seen, is a decline in living standards and a loss of jobs, particularly in countries that are most vulnerable to economic shocks. This exacerbates the high levels of inequality that still exist in many countries and further widens the gap between the rich and the poor. Moreover, a recession can also trigger a rise in populism and nationalism, leading to greater protectionism and inward-looking policies. Again, this is something that has been happening across the world, even before now.
The banking sector is also significantly affected by a potential recession, particularly if it is caused by a financial crisis. The regulatory measures put in place after the 2008 financial crisis may have helped to make the banking sector more resilient, but the current crisis still puts pressure on financial institutions and destabilises the global financial system. It has already led to renewed calls for stronger regulations and greater international coordination, whilst loss of trust in financial institutions is repeated.
Finally, recession has implications for international relations and cooperation. If countries become more inward-looking and protectionist in response to a recession, it can lead to a further erosion of the post-World War II order of cooperation and free trade. It makes it more difficult to address global economic challenges, such as climate change, and undermines efforts to build a more equitable and stable global financial system.
Of course, the COVID-19 pandemic has also had a significant impact on the global economy. The pandemic caused a global economic downturn, which has led to widespread job losses and a decline in economic activity. Governments around the world have implemented various measures to try to mitigate the economic impact of the pandemic, including stimulus packages and support for businesses and workers. However, the pandemic has also highlighted and exacerbated existing inequalities, with low-income and marginalized communities being disproportionately affected. The long-term effects of the pandemic on the global economy are still uncertain, but it is clear that it will have far-reaching implications for years to come.
In conclusion, the possibility of a global recession in 2023 highlights the continued fragility of the global economy, even over a decade after the financial crisis of 2008. While the long-term implications of a potential recession are difficult to predict, it is clear that one will have significant and far-reaching effects on the global economy, society, and international relations. As we move forward, it is important to remain vigilant and to continue working towards building a more stable, equitable, and cooperative global financial system that can withstand future economic shocks.
Whatever subject you are studying or qualification you are studying for, contact with your teacher or tutor – even when remote – is an invaluable part of that process. They are usually the subject experts, have a full understanding of the assessment process and have, more often than not, supported many other students who felt exactly the same as you do now about their learning. Whether you are confident in your subject knowledge and looking for ways to stretch yourself in order to achieve the very best results or are still a little uncertain and unsure how you might secure the grade you need, your tutors can provide you with the support you require. Here are a few simple strategies every student should try in order to boost the benefits of the contact they have.
Put simply, meet their expectations! If they provide a task, complete it. If they set a deadline, meet it. If you have a meeting, be there. Programmes of study and assessment schedules are in place to meet the needs of everyone; ensuring that there is adequate time for covering all of the content, assessing progress and providing feedback. A tutor works with many students and if you don’t adhere to the plan then you are unlikely to get the time you deserve. If there is a problem with the schedule set out for you, talk to your tutor in advance so that they can make any amendment they possibly can in order to make sure that everyone’s needs are met. If a tutor sees you are committed to your learning and doing what is required they are likely to go above and beyond in the ways in which they support you.
As already mentioned, the tutor is the subject expert. They have the knowledge of the subject but also the ways it is assessed and how to ensure you can demonstrate it when required to do so. Listen to their advice. Take notes where required. Follow their suggestions. However, if there is something you are unsure about, don’t be afraid to ask! Questioning is key to developing a deeper understanding and mastery of a subject but is also a great tool in ensuring there have been no miscommunications or misunderstandings. Your tutor will respect your ability to really engage with the content you are covering together and look for ways to address your questions in more detail.
Receiving feedback is one of the most important parts of the learning journey. However, many of us find getting feedback something that is really, really hard! Instead of thinking about what is said by your tutor as being ‘good’ or ‘bad’, try to consider what you can learn from it instead. If you are given praise for a certain aspect of your work, think about what you did that made this so effective. If there are comments relating to something that hasn’t worked out so well then think about what you might do differently next time. Reflection is key to making progress. Also, apply the same thought process when it comes to your attitude to learning. If a tutor comments on this, avoid taking it personally and think of how you might use what they have said to become a more effective learner.
Don’t forget that any contact that you have with your tutor is designed to benefit YOU. If you are in need of something specific from that contact then, again, do not be afraid to ask! In reality, this involves planning and preparing for any contact you have before you have it. Make a note of any questions you have when studying independently. If you need to revisit any material with them, ask in advance. If you have found a subject area particularly easy or hard, let them know. Remember, your tutor will be looking to support you in a way that is personalised to meet your needs too, so the more effectively you’re able to communicate these, the better they will be able to do this.
What does democracy mean to you? Perhaps it is something that only happens when you vote. Or maybe it’s something to strive for; a culture where all voices count toward change, championing transparency and equality. It’s a much-used word, but where did it derive from and what does it mean for society at large?
Literally translated, the word democracy comes from the Greek words ‘demos’, meaning people, and ‘kratos’ meaning power, so democracy can be thought of as ‘power of the people’. It is also sometimes referred to as ‘rule of the majority’. The first known democracy in the world was in Athens, Greece, where Athenian democracy developed around the fifth century B.C.E. In the year 507 B.C., the Athenian leader Cleisthenes introduced a system of political reforms that he called demokratia, meaning “rule by the people”.
Democracy, then, is a system of government in which the citizens exercise power directly or elect representatives from among themselves to form a governing body, such as a parliament. However, the Greek idea of democracy differed from that which we have now, given that in Athens all adult citizens were required to take an active part in the government.
In present day, there are four main types of democracies. These are:
Direct – sometimes called “pure democracy”, this is a form of democracy where the people decide on policy initiatives. Voters are able to directly impact specific issues and policies, rather than voting to give a representative or party the mandate to decide upon them.
Representative – founded on the principle of elected persons representing a group of people, such as in the UK. This is the most commonly found democracy in the world today.
Constitutional – the authority of the majority is limited by legal and institutional means so that the rights of individuals and minorities are respected.
Monitory – a phase of democracy characterised by instruments of public monitoring and scrutinising of government power.
A report in 2020 highlighted that across the previous year almost 70% of countries had recorded a decline in their overall democratic rating score, as covered by The Economist Intelligence Democracy Rating Index; this was largely due to country after country locking down to protect lives from Covid-19. Globally, the average score fell to its lowest level since the index was initiated in 2006.
A 2020 YouGov survey showed that three-quarters of Britons (75%) describe the UK as a democratic country, yet six in ten (60%) complain that they cannot freely say what they think, and a third (34%) feel they have absolutely no say when it comes to how things are run.
In 2020, the top three most democratic nations were an all Nordic trio of Norway, Iceland and Sweden. According to the Sustainable Governance Indicators project which rates the quality of democracy, Norway also falls into the top group worldwide (rank 3) . Interestingly, the two other Nordic nations of Denmark and Finland also rank in the top 10. The UK is currently 16th.
The trade war between two of the world’s leading superpowers, America and China, began in July 2018 and has only been growing ever since. But how and why did it start? And what is to become of it?
The basis for the US-China trade war has its roots in the economical production of the countries. As one of the largest economies in the world, China’s foreign trade increased rapidly after its ascension into the World Trade Organisation in 2001. The US and China’s bilateral trades totalled a staggering US $559 billion in 2019. However, much of this trade was uneven. The US has a large trade deficit with China, and the US trade shortfall rose to US$375.6 billion in 2017 from US$103.1 billion in 2002.
The US and China also imposed trade tariffs on each other, which means that buyers from the other country would pay a higher import tax to bring their purchases into the country. The trade war started when then-president Donald Trump declared that his goal was to reduce the trade deficit with China due to its unfair trade practices, lack of market access for American companies and uneven playing field caused by Beijing’s policies. On the other hand, China believes that the US is trying to suppress its rise as the world’s economic number one.
The four years of President Trump’s rule saw the US-China tensions rise to an unsustainable level, with multiple US sanctions imposed on Chinese companies. Since President Joe Biden’s election in January 2021, the tensions have only grown. President Biden’s administration recently increased its sanctions against China in response to the Hong Kong pro-democracy protests, notably issuing a warning on July 16 about the “Risks and Considerations for Businesses Operating in Hong Kong” and imposing sanctions on seven deputy directors of the central government’s Liaison Office in Hong Kong. The Biden administration also banned the import of technological materials such as polysilicon from Chinese technology companies due to the latter’s alleged use of force in the Uighur region in Xinjiang.
To this day, the US-China trade war continues in full swing amid growing conflicts. However, if there is anything positive to be highlighted, it should be said that neither country wants to cut their economical ties completely. Whilst that is the case, there may be a chance that things, eventually, will improve.
With housing prices becoming increasing high and millennials being priced out of the property market, a lot of commentators have noted that we are heading towards a new way of working in order to generate multiple income streams- the gig economy. But what exactly does this phrase mean? What are the implications of this new mode of work?
According to the BBC, the “gig economy” is a phrase that is often used to describe a labour market “characterised by the prevalence of short-term contracts or freelance work, as opposed to permanent jobs”. In this sense, it is a new form of work whereby people take on multiple jobs in order to earn a stream of income that is sustainable but flexible at the same time. On one hand, this has it’s advantages. It allows workers to be more versatile and flexible in terms of their field of work, working hours and workload. Many contracts under the gig economy offers the workers more independence and scope to complete the work in ways they see fit. Workers are also able to charge hourly rates that they set themselves, meaning that they are able to control their working hours and get paid for any overtime work. It is estimated that in the UK, over 5 million workers engage in the gig economy in order to sustain a living.
On the other hand, critics of the gig economy note that it can be a form of exploitation with very low amounts of worker protection. Workers are essentially unprotected from demanding employers and do not receive benefits such as pensions, a stable wage and healthcare support. Some critics have compared the nature of jobs under the gig economy to zero-hour contracts where employers have no obligations to provide payment for minimum working hours, which undermines an employee’s job security. Additionally, this type of economy can cause workers to suffer from burnout as many individuals take on multiple (and often stressful) jobs at once.
With a new way of working comes along myriad opportunities and challenges. Regardless of the pros and cons of the gig economy, it seems that it is here to stay and will become an integral part of many millennials’ lives.
Cryptocurrencies are the latest trend in Millennial investing. We have all seen Elon Musk’s active twitter account and the comments from institutional investors that “bitcoin is the digital gold” of this generation. However, what exactly are cryptocurrencies? What do they do? For beginners out there, here is a quick summary of what this new asset class is all about.
Cryptocurrencies are essentially digital or virtual currencies that are secured by cryptography, which makes it impossible for transactions to be forged or counterfeited. Many cryptocurrencies are based on decentralised networks created from blockchain technology. Blockchain technology is created by codes that distribute copies of a digital “ledger” to every single computer that is connected on the network. All of the networks verify transactions that pass through the blockchain.
There are several reasons. First, they are decentralised and not controlled by any bank or government. This makes them immune to government manipulation. Secondly, anyone can send money to another person without worrying about their identity being revealed. These transfers are secured by private keys and are sent directly to wallets which are anonymous, making cryptocurrencies even more attractive to people who want to preserve their online identities during transactions.
The decentralised nature of cryptocurrencies means that it faces several criticisms. Some people argue that the system can be used for money laundering or other illegal activities as criminals can transfer large amounts of money to anonymous wallets for storage. Others have argued that the high transaction fees and slow speeds of some cryptocurrencies such as Ethereum make them virtually unusable and scalable for everyday life.
Regardless, it is undeniable that cryptocurrencies are increasingly popular amongst investors and citizens around the world who see potential for this innovative technology to change the world, hedging against inflation and facilitating the exchange of money outside the influence of central banks and governments.
What is a multi-hyphen life?
It is a book written by Emma Gannon about the future of careers in the coming age. A key idea in the book is that we are moving into a multi-disciplinary age. This means that in their lifetimes, young people will constantly have to learn new skills and adapt at an increasingly rapid pace. This may sound like hell to some and paradise to others, depending on your attitude to discovery and learning.
In the UK, we have one of the most expensive higher education systems in the world and that doesn’t seem set to change in the near future. Worse still, with an increasing world population, a shift to automation, as well as the outsourcing of skills, the market is tough to say the least. Students can put themselves into considerable debt, and in many subjects receive an outdated education as universities struggle to keep pace with the growth of information.
In response to this, many private institutions such as Google, as well as top-tier universities, have created Massive Open Online Courses. These are sometimes free and normally cheap. They cover the most industry-relevant and up-to-date materials. The problem is that someone who studied a MOOC by Google will normally be second choice when compared to someone who studied at Oxford or Harvard.
This situation needs to change, however. If young professionals are to be expected to requalify on a regular basis in order to keep pace with the economy, learning must be democratised. As with every revolution, the status quo does not cede power easily, and universities are working hard to justify their high fees with blended learning and adaptable courses. The disruptive effects of tech are everywhere, however, from AirBnB, to Zoom conferences. The general rule of thumb is: if there is a quicker, cheaper and easier way to structure an old practise, it’s just a matter of time.
So it is very likely that if you are nearer to the beginning than the end of your career, you will be required to massively upskill or even learn a new discipline.
In order to keep up, people are going to have to become increasingly gritty. To learn more about grit, check out this article on Angela Duckworth’s groundbreaking research.
My recommendation would be to continuously play with ideas and keep up the side-hustles! These small things are like seeds and can grow over time, presenting you with new options and ideas.
To read the news you may think all those who work in politics are Oxbridge Politics, Philosophy and Economics graduates but — while there certainly are a few of them in the halls of Westminster — it’s not the whole story.
A political career is open to a wide variety of academic backgrounds. After all, Margaret Thatcher was a chemist and it didn’t stop her winning three general elections handsomely. But it’s undeniable that certain skill sets do come in handy.
Being a politician’s advisor demands boning up on technical policy swiftly, distilling it down to key facts, and briefing your time-poor boss sufficiently so they don’t make a fool of themselves. Arts subjects such as English, History and Philosophy, where you are trained to digest, recount and analyse complicated concepts, are therefore a real boon. Alternatively, if you want to develop policy, expertise in a specific area (although it’s far from essential) can allow you to hit the ground running. This is where social sciences including Geography, Environmental Sciences and Development Studies can give you the edge.
A surprising fact about the political class is how few have studied Communications and Marketing. Indeed, there’s a little too many electioneering decisions that are down to gut rather than science. This should, and probably will, change as campaigning evolves. So it might be a good idea to get the jump on other candidates now.
That’s not to say politics hasn’t moved with the times, even if it doesn’t look that way when you watch Westminster on TV. Like all ‘industries’, politics has entered the digital revolution and is in desperate need of the graduates to match. With Obama’s data-driven campaigns inspiring parties to modernise, some of my most successful colleagues are those who can code or know their way around a database. Computer Science and Statistics degrees are in high demand, especially if you also happen to be a political geek.
Talking of geekery, you could of course do worse than studying Politics itself. There’s no doubt understanding the intricacies of legislative processes, electoral systems, or the movement you now work for is useful, even in the more mundane daily grind of real-world politics.
But I suppose my overall point is this: don’t think there’s ‘one’ route to make it as a Malcum Tucker or Mat Santos. Indeed, watching how our leaders perform for the cameras, you may decide Drama and Theatre Studies wouldn’t be a bad bet.
In the end, study what you love. But I will say this: nothing impresses a politician more than a bit of hard graft, so do get stuck in with politics and campaigns locally. You never know, you may meet your new boss out canvassing.