Researchers at MIT are working toward training AI models “as subject-matter experts that ethically tailor financial advice to an individual’s circumstances,” reports Tanza Loudenback for Business Insider. “We think we’re about two or three years away before we can demonstrate a piece of software that by SEC regulatory guidelines will satisfy fiduciary duty,” says Prof. Andrew Lo.
Prof. Thomas Kochan speaks with Boston Globe reporter Dana Gerber to reflect on the impact of 2014 Market Basket protests. Kochan, who co-authored a case study about the protests, says “it’s still the most unprecedented worker action that we’ve seen in our century. We’ve never seen a non-union group take action in support of their CEO, and hold that solidarity — from the executives to the clerks to the truck drivers — for six weeks. And to get the support of the customers was a remarkable achievement.”
Prof. Kristin Forbes speaks with Bloomberg reporters Jonnelle Marte and Reade Pickert about potential Fed rate cuts. “The last few years have been a wake-up call,” Forbes said. “You want to do a framework review that is robust to many different economic circumstances.”
Prof. Stuart Madnick speaks with NPR host Alisa Chang about the recent influx of security breaches and how individuals can prepare for future attacks. “There are certain responsibilities companies have, particularly with the disclosure of private information,” explains Madnick. He emphasizes that individuals, "have to realize there are risks and behave as cautiously and fruitfully as you can.”
A new study by MIT researchers finds that commercial air travel continues to get safer, with the risk of a fatality 1 per every 13.7 million passenger boardings globally in the 2018 to 2022 period, reports Brittany Anas for Forbes. “Researchers explain that this trend in safer flights can be understood through ‘Moore’s Law,’ which is the observation that innovators find ways to double computing power of chips every roughly 18 months,” Anas writes. “However, in this case, the MIT team points out, commercial travel has become almost twice as safe in each decade since the late 1960s.”
In a letter to the editor of The Boston Globe, Prof. Emerita Lotte Bailyn underscores the importance of leaders and prominent public figures taking family leave. “As someone who has long studied the effect of employer policies and practices on the success of an enterprise, I know the extreme importance of a leader’s actions,” writes Bailyn. “What they model, not the words they say, has the strongest impact on the culture of an organization”
A new study by MIT researchers finds that air travel has never been safer, with the fatality rate falling to 1 per every 13.7 million passenger boardings globally in the 2018-2022 period, reports Agence France-Presse. Prof. Arnold Barnett compared aviation safety increases to "'Moore's Law,’ the famous prediction by Intel founder Gordon Moore that the computing power of chips doubles roughly every 18 months. From 1978-1987 the risk of dying was 1 per 750,000 boarding passengers; from 1988-1997 it was 1 per 1.3 million; and in 1998-2007, 1 per 2.7 million.”
Lecturer Shira Springer speaks with Bianca Beltrán of NBC 10 Boston about the rise of women in Olympic sports, highlighting how this is the first Olympics to achieve gender parity. "That's a tremendous accomplishment for all involved. It's a tremendous milestone," says Springer . "But you also have to be cognizant of how far women have come and how far they still have to go."
MIT researchers have found that “when nudged to review LLM-generated outputs, humans are more likely to discover and fix errors,” reports Carter Busse for Forbes. The findings suggest that, “when given the chance to evaluate results from AI systems, users can greatly improve the quality of the outputs,” explains Busse. “The more information provided about the origins and accuracy of the results, the better the users are at detecting problems.”
Let’s Get Set, a company founded by Clare Herceg MBA '20 aims to tackle “financial challenges low-and moderate-wage households face,” reports Geri Stengel for Forbes. “Based on extensive user research, the company's innovative savings account allows borrowers to access emergency funds without falling into a debt trap,” writes Stengel. “This approach addresses a critical need highlighted by national data on financial shocks and inadequate savings.”
Prof. Simon Johnson and Prof. David Autor speak with New York Times reporter Emma Goldberg about the anticipated impact of AI on the job market. “We should be concerned about eliminating them,” says Prof. Simon Johnson, of the risks posed by automating jobs. “This is the hollowing out of the middle class.”
Bloomberg’s David Westin talks with Prof. Kristin Forbes at the Aspen Economic Strategy Group meetings focused on monetary and fiscal policy. Despite progress in the inflation fight, "we as economists forget that this price of a basket of goods matters to people. Things are more expensive," she says.
MIT graduate student Jerry Lu and University of Virginia Prof. Ken Ono are developing new techniques to help swimmers competing at the Paris Olympics glide through the water even faster, reports Davide Castelvecchi for Nature. Lu and Ono created 3D models of the athletes and then suggested “tiny changes that can shave off precious fractions of a second at every stroke."
Prof. Stuart Madnick’s research shows "data breaches increased 20% from 2022 to 2023 while the number of victims of such breaches worldwide doubled over the same period," reports Steven Smith for Forbes
Prof. John Sterman speaks with Guardian reporters Oliver Milman and Nina Lakhani about the expansion of fossil fuel developments in wealthy countries despite climate commitments. “The developed countries don’t show any significant efforts to limit drilling, but it’s not just them. Guyana and countries in south-east Asia are also aggressively seeking to expand exploitation activity. This is about national policy but it’s also being driven by the oil companies,” says Sterman. “We can’t keep going on this like.”