Miscellanea

1. Economy

 1.      
US defence firms want control
over tech in Make-in-India plan

The US- India
Business Council (USIBC) wrote to India’s defence minister last month seeking a
guarantee that US firms would retain control over sensitive technology — even
as joint venture junior partners.

 (Source:
International Business Times dated 19.09.2017)

 2.      
Crypto crash: Bitcoin nosedives
50% in India in just 13days

Bitcoin and newer
rivals like Ethereum and Litecoin have in recent times been fighting a losing
battle against regulators.

 (Source:
International Business Times dated 19.09.2017)

 3.   KitKat Bets on Weird and Wonderful
Flavor’s in Japan – Cough-medicine-flavored KitKat anyone?

It may not be to
everyone’s taste, but this is just one of 300 weird and wonderful flavor’s
flying off the shelves in Japan, which has become the world’s biggest market
for the four-fingered snack. In true Japanese style, human workers are a rare
sight at one Kitkat factory in Kasumiguara, around 100Km east of Tokyo.
Instead, dozens of robots manufacture four million bars a day at breakneck
speed, from mixing the chocolate paste to wrapping them ready for sale. Kitkats
have been around in Britain since 1935 and only arrived in Japan in 1973. But
the Japanese market has a crucial unique selling point – a huge variety of
different flavours. It all started with a strawberry flavoured Kitkat in 2000
and the range expanded quickly – from flavours aimed at local taste buds such
as sake, green tea and wasabi – to more exotic combinations like melon and
mascarpone.

 (Source:
Economic Times dated 07.09.2017)

 4.      
AI system writes next Game of
Thrones novel

Can’t wait to
find out what happens next in the Game of Thrones? A new artificial
intelligence (AI) system has written the first five chapters of the next book
of the popular fantasy series.

The TV show Game
of Thrones, which is based on the George R R Martin book series A Song of Ice
and Fire, has gained widespread popularity worldwide.

The show’s
seventh season recently aired its last episode, and fans will now have to wait
till 2019 to know what happens to their favourite characters next.

Martin is
currently working on the sixth novel of the book series, The Winds of Winter.

 Zach Thoutt, a
software engineer in the US, trained an AI system to predict the events of the
sixth novel using the characters from the fictional Seven Kingdoms of Westeros.

 “I start each chapter by giving it a prime
word, which I always used as a character name, and tell it how many words after
that to generate,” Thoutt said.

 “I wanted to do
chapters for specific characters like in the books, so I always used one of the
character names as the prime word. There is no editing other than supplying the
network that first prime word,” he said.

  (Source: Business Line dated 15.09.2017)

 5. 
Leadership thoughts

 5.      
 Why wisdom can’t be taught?

 “I cannot teach
anyone anything, I can only make them think” – Socrates

In the pursuit of
wisdom, executives may find themselves taking off their masks to become truly
authentic and reflective leaders.

The day after
becoming the CEO of a company facing turbulent times, David had a dream. In it,
while walking on a beach he discovered a bottle. On opening, a genie appeared
offering him a wish in exchange for her freedom. Eschewing riches, fame or a
long life, David opted for the one thing he knew he needed to help him guide
his people in the best way possible. He chose the gift of wisdom.

In today’s
hyperactive digital age, attaining wisdom is a challenge. With tablets and
phones and their various apps constantly vying for our immediate attention, it
is increasingly difficult to find the time and mental space for making
meaningful connections or engaging in the deep conversations, reflection,
emotional awareness, empathy and compassion, necessary in its pursuit.

Indeed, it is an
unfortunate fact for many leaders in David’s position, that while wisdom
requires education, education does not necessarily make people wise. As
Professor Charles Gragg noted in his classic case study “Because Wisdom Can’t
Be Told”, the mere act of listening to wise statements and sound advice doesn’t
necessarily ensure the transfer of wisdom.

What does it mean to be wise?

People often
equate wisdom with intelligence or being knowledgeable; but all too often, it
becomes apparent that being intelligent and being wise are quite different
things. The world is full of brilliant people who intellectualise without
really understanding the essence of things. In contrast, wise people try to
grasp the deeper meaning of what is known and strive to better understand the
limits of their knowledge.

Wisdom implies
more than merely being able to process information in a logical way. Knowledge
becomes wisdom when we have the ability to assimilate and apply this knowledge
to make the right decisions. As the saying goes, ‘knowledge speaks but wisdom
listens’. Wise people are blessed with good judgement. In addition, they possess
the qualities of sincerity and authenticity, the former implying a willingness
to say what you mean, the latter to be what you are.

Wise people are
also humble; their humility deriving from a willingness to recognise the
limitations of their knowledge. They accept that there are things they will
never know. By accepting their ignorance, they are better prepared to bear
their own fallibility. People who are wise know when what they are doing makes
sense, but also when it will not be good enough. Ironically, it is exactly this
kind of self-knowledge that pushes them to do something about it.

Wisdom can be
looked at from both a cognitive and emotional perspective. Cognitively, wise
people have the ability to see the big picture. They are able to put things in
perspective; to rise above their personal viewpoint and observe a situation
from many different angles (thus avoiding simplistic black-and-white thinking).
From an emotional perspective, people acknowledged for their wisdom are
reflective, introspective and tolerant of ambiguity. They know how to manage
negative emotions, and possess both empathy and compassion; qualities that
differentiate them in an interpersonal context.

Ironically, what
makes wisdom more important than success and riches is that it enables us to
live well. Our mental and physical health flourishes when we are congruent with
our beliefs and values. As Mahatma Gandhi once said, “Happiness is when what
you think, what you say, and what you do are in harmony.” Wise people are
attuned to what constitutes a meaningful life. They know how to plan for and
manage such a life. This implies self-concordance, behaving consistently with
their values, a journey that requires self-exploration, self-knowledge and
self-responsibility.

Age doesn’t make us wiser

So, how can we
acquire wisdom and can we expedite its acquisition? Becoming wise is a very
personal quest. It is only through our own experiences, learning how to cope
with the major tragedies and dilemmas embedded within life’s journey, that we
will discover our own capacities and learn how to create wisdom.

Setbacks are
memorable growth experiences contributing to a deeper understanding of the
vicissitudes of life. Overcoming difficult situations contributes to an
increased appreciation of life and the recognition of new possibilities. These
experiences enable us to rise above our own perspectives and see things as they
are.

Unfortunately,
wisdom is not something that automatically comes with the passing of years.
While older people may be more capable than their younger counterparts, many
never put their life experiences to good use. To acquire the required sense of
reflectivity may necessitate the help of others. Educators, coaches,
psychotherapists and mentors can play a significant role, not only by assisting
with the dissemination of knowledge but by helping those searching for wisdom
work through challenging experiences and encouraging them to work on emotional
awareness, emotional self-regulation, relational skills and mindfulness.

Wisdom and authenticity

A learning
community is also a great place to practice open-mindedness. Encouraging
participants to step out of their comfort zone and to deal with people who are
very different from themselves, leads to a deeper understanding and acceptance
of the ambiguous nature of things. If designed in a holistic manner, these
communities are a great exercise in humility, giving participants a better
awareness of their limitations as well as a greater ability to integrate their
knowledge and experiences when dealing with the challenges ahead.

In their pursuit
of wisdom, group members will be encouraged to learn from their mistakes, to
think before acting and, by taking off their masks, to become more authentic in
living their values.

 (Source: Insead Knowledge – The Business School
for the world)