The Turbulent Past and Uncertain Future of AI: Is there a way out of AI's boom-and-bust cycle?

IEEE Spectrum ◽  
2021 ◽  
Vol 58 (10) ◽  
pp. 26-31
Author(s):  
Eliza Strickland
Keyword(s):  
Boom And Bust ◽  
Uncertain Future ◽  
Boom And Bust Cycle

scholarly journals Love is blind: partisan alignment and political corruption in Spain

SERIEs ◽  
2021 ◽  
Author(s):  
Miguel Ángel Borrella-Mas ◽  
Martin Rode
Keyword(s):  
Public Discourse ◽  
Local Level ◽  
Political Process ◽  
Real Estate Industry ◽  
Local Politicians ◽  
Boom And Bust ◽  
Boom And Bust Cycle ◽  
Regional Elections ◽  
Municipal Level ◽  
Do So

AbstractEver since the spectacular boom and bust cycle of the Spanish real estate industry, endemic corruption at the local level has become a widely recognized problem in the national public discourse. In an effort to expose an under-explored political determinant, this paper investigates the effect of local and regional alignment in fomenting corruption at the Spanish municipal level. To do so, we construct an ample panel dataset on the prevalence of corrupt practices by local politicians, which is employed to test the possible impact of partisan alignment in three consecutive joint municipal and regional elections. Findings show aligned municipalities to be more corrupt than non-aligned ones, an effect that is further associated with absolute majorities at both levels of government and higher capital transfers. By contrast, we also show that “throwing the rascals out” could be an effective strategy for curbing the corrupt practices of aligned municipalities. This indicates that the democratic political process may be effective in corruption control if agreements can be reached to remove corrupt politicians or parties from power.

Financial Development and the Credit Cycle in Greece1

2017 ◽  
Author(s):  
Michael Haliassos ◽  
Gikas Hardouvelis ◽  
Margarita Tsoutsoura ◽  
Dimitri Vayanos
Keyword(s):  
Financial Regulation ◽  
Financial System ◽  
Equity Capital ◽  
Cost Of Equity Capital ◽  
Debt Overhang ◽  
Boom And Bust ◽  
Greek Economy ◽  
The Cost ◽  
Long Term Performance ◽  
Boom And Bust Cycle

This chapter reviews the developments in Greece's financial system since the beginning of the crisis. The chapter places them in a broader context by (i) evaluating the long-term performance of Greece's financial system in comparison to other countries, and (ii) reviewing the credit boom-and-bust cycle that Greece has experienced since Euro entry. Risks in the Greek economy remain overly concentrated to those originating them and are not well diversified. By raising the cost of equity capital for firms, this impedes investment. It also drives up corporate leverage, thus making the economy more vulnerable to shocks. These vulnerabilities manifested themselves even before the sovereign crisis hit. Strengthening investor protection, through improvements in the justice system and financial regulation, is an important part of the solution. In the shorter run, the debt overhang problem in the private sector should be addressed. The chapter discusses policy options to achieve these goals.

Global liquidity risks a heavy slump in EMs

2015 ◽  
Keyword(s):  
Monetary Policy ◽  
Financial Regulation ◽  
Market Liquidity ◽  
Bond Markets ◽  
Content Type ◽  
Sovereign Bonds ◽  
Advanced Economies ◽  
Boom And Bust ◽  
Global Liquidity ◽  
Boom And Bust Cycle

Subject Global liquidity trends. Significance Concerns over global liquidity have resurfaced since late 2014, both in advanced and emerging markets (EMs). Both central banks and the IMF note that market liquidity has declined, especially in bond markets, due to stricter regulations on derivatives trading in advanced economies, lower sovereign bonds demand in some countries and the end of the credit boom in some EMs. Global liquidity is a loosely defined concept that can be interpreted in different ways and covers a variety of countries and market realities. Impacts Liquidity is highly cyclical and follows a 'boom and bust' cycle. Accomodative monetary policy and financial regulation may partly offset the exposure to global liquidity volatility. US monetary policy tightening could exacerbate an EM crisis, where corporates have heavily issued dollar-denominated debt. The ECB monetary policy will remain accommodative until at least March 2017 partly offsetting risks of a global liquidity shortage.

scholarly journals Intraprocedural Artificial Intelligence for Colorectal Cancer Detection and Characterisation in Endoscopy and Laparoscopy

2021 ◽  
pp. 155335062199776 ◽  
Author(s):  
Niall P Hardy ◽  
Pól Mac Aonghusa ◽  
Peter M Neary ◽  
Ronan A Cahill
Keyword(s):  
Artificial Intelligence ◽  
Colorectal Cancer ◽  
Real Life ◽  
Computer Assisted ◽  
Technological Evolution ◽  
Exciting Field ◽  
Rapid Phase ◽  
Boom And Bust ◽  
Human Decision ◽  
Boom And Bust Cycle

In this article, we provide an evidence-based primer of current tools and evolving concepts in the area of intraprocedural artificial intelligence (AI) methods in colonoscopy and laparoscopy as a ‘procedure companion’, with specific focus on colorectal cancer recognition and characterisation. These interventions are both likely beneficiaries from an impending rapid phase in technical and technological evolution. The domains where AI is most likely to impact are explored as well as the methodological pitfalls pertaining to AI methods. Such issues include the need for large volumes of data to train AI systems, questions surrounding false positive rates, explainability and interpretability as well as recent concerns surrounding instabilities in current deep learning (DL) models. The area of biophysics-inspired models, a potential remedy to some of these pitfalls, is explored as it could allow our understanding of the fundamental physiological differences between tissue types to be exploited in real time with the help of computer-assisted interpretation. Right now, such models can include data collected from dynamic fluorescence imaging in surgery to characterise lesions by their biology reducing the number of cases needed to build a reliable and interpretable classification system. Furthermore, instead of focussing on image-by-image analysis, such systems could analyse in a continuous fashion, more akin to how we view procedures in real life and make decisions in a manner more comparable to human decision-making. Synergistical approaches can ensure AI methods usefully embed within practice thus safeguarding against collapse of this exciting field of investigation as another ‘boom and bust’ cycle of AI endeavour.

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