What is happening in the world today??
Bringing you everyday three most important news summary and analysis in areas of business, technology and politics
Business Section-GDP, Inflation and Interest Rates Forecast to Rise Under Trump Presidency
The presidency of Donald Trump is poised to usher in a new era for the U.S. economy that forecasters say could boost economic growth, bring higher interest rates and inflation, and a new set of potential risks including international trade wars.
Mr. Trump could enact the most quickly, such as restricting trade or immigration, could do swift harm to the economy. The source of the current optimism is tax cuts and infrastructure plans, but these would take longer to implement because they would need to go through Congress.
What is the implication
- Tax cuts, especially if not accompanied by spending reductions, would produce a short-term boost to economic growth.
- Trump’s proposals to increase infrastructure spending could lead to a large boost in construction employment, with spillover effects for other industries.
- Now that Republicans are in control, there’s no concern about debt and deficits , as a combination of tax cuts and rising spending would reduce that risk.
Technology Section — Facebook chose to fight fake news with AI, not just user reports
Facebook built two versions of a fix for clickbait this year, and decided to trust algorithmic machine learning detection.
According to Facebook, it developed two different options for how the 2016 clickbait update would work. One was a classifier based off the 2015 hoax detector based on user reports, and another was the machine learning classifier built specifically for detecting clickbait via computer algorithm. Facebook trained a machine learning algorithm by having humans identify common phrases in old news headlines of clickbait stories. The machine learning system then would identify and demote future stories that featured those clickbait phrases.
Why did facebook rollout this new AI??
A Gizmodo report earlier this year alleged that Facebook’s human Trend curators used their editorial freedom to suppress conservative trends. The choice to rely on a machine learning algorithm rather than centering the fix around user reports aligns with Facebook’s recent push to reduce the potential for human bias in its curation.
What can Facebook do more about this AI
- Simplifying user flagging of fake or exaggerated stories
- Appending fact-checking sites to suspicious articles
- Withholding distribution from domains that haven’t proven their accuracy but prioritize monetization could be some ways to fight the avalanche of fake news.
Politics Section — Obama to reassure Nato leaders on Trump commitment
President Barack Obama will reassure European leaders during a visit to Germany and Greece this week that Donald Trump, his successor, plans to maintain the US commitment to Nato and other core American alliances.
In his first press conference since Mr Trump’s victory over Hillary Clinton, Mr Obama said the president-elect told him when they met last week that he was committed to maintaining US alliances — despite the fact that Mr Trump had openly threatened during his campaign to downgrade alliances with Nato, Japan and South Korea.