The Strengths of a Handshake Culture

September 25, 2024

In an era dominated by digital interactions, some companies still hold steadfast to the traditional values of face-to-face communication. O’Neil Franso, Corporate VP of HR at H.W. Kaufman Group, a multinational insurance parent company, shared how their “handshake culture” integrates with the modern hybrid work model when I interviewed him.

Embracing Hybrid Work Without Losing Personal Touch

Franso emphasizes H.W. Kaufman Group’s dedication to maintaining personal interactions with clients, a principle they call “handshake culture.” Before the pandemic, the company didn’t practice much remote work. However, COVID-19 forced a shift, and they had to adapt quickly.

“We believe in a handshake culture, meaning face-to-face interactions with our clients. COVID-19 forced us to embrace remote work and navigate a hybrid schedule,” Franso explains. Initially, the company expected to revert to in-person work after the pandemic. However, they soon recognized the benefits of hybrid work, which now plays a crucial role in their operations.

“We emphasize the value of being in person but also recognize the quality that comes from allowing people the flexibility to work from home,” Franso adds. This flexibility has proven essential for attracting and retaining talent, ensuring a better work-life balance, and maintaining productivity.

Attracting Talent Beyond Geographic Boundaries

One of the significant advantages of hybrid work for H.W. Kaufman Group has been the ability to attract talent irrespective of location. “Remote work allows us to get the talent regardless of location,” Franso says. This flexibility enables the company to find the right people for the job, even if they are not based in major metropolitan areas.

We emphasize the value of being in person but also recognize the quality that comes from allowing people the flexibility to work from home.

By leveraging remote work, the company has found success in reducing the need for frequent travel, thus enhancing productivity. “It allows people to travel more and accomplish business targets that we otherwise wouldn’t if we were chained to our physical desks,” Franso notes.

Flexibility as a Tool for Employee Well-being

The shift to hybrid work has also brought numerous benefits to employees. “Flexibility allows a better work-life balance, helping us attract and retain talent and manage burnout,” Franso says. Employees can avoid lengthy commutes, stay closer to their children, and work at their peak productivity without distractions.

Interestingly, this flexibility has also resonated with clients who face similar challenges. Franso shares that clients appreciate the alignment in working hours, often engaging with employees late at night when both parties are working from home. This shared experience has fostered stronger connections and enhanced client relationships.

Investing in Physical Spaces for Collaborative Work

Unlike some companies that have reduced their real estate footprint, H.W. Kaufman Group has taken a different approach. They invest in creating better physical spaces to meet the diverse needs of their employees. “We’re furnishing fantastic physical spaces for our people, recognizing that most employees want to come into the office at least part of the time,” Franso explains.

The emphasis on in-person interaction supports collaboration, osmosis, and training, enhancing the overall client experience. “It wasn’t about saving money on real estate. In fact, we probably ended up investing more to create better spaces for people to come in,” Franso says.

Addressing Managerial Challenges in a Hybrid Environment

The most meaningful communication is nonverbal—facial expressions, body language. You can’t get that in a chat or text message.

The transition to hybrid work has not been without challenges, particularly for managers adapting to new styles of supervision. “Understanding the needs of our people and managers and then creating common ground is probably the biggest challenge,” Franso acknowledges.

To address this, H.W. Kaufman Group encourages more frequent one-on-ones and video meetings with cameras on to facilitate effective communication. “The most meaningful communication is nonverbal—facial expressions, body language. You can’t get that in a chat or text message,” Franso explains. Video meetings help replicate the in-person experience, allowing for better performance evaluation and feedback.

Supporting Junior Employees Through Structured Mentorship

For junior employees, who often need more exposure to experienced colleagues, the company emphasizes in-office interactions. “Our less experienced employees and newer employees are asking for more days in the office to learn and overhear conversations,” Franso says.

H.W. Kaufman Group has implemented buddy programs and continuous mentorship beyond initial onboarding. Managers are trained to understand the type of mentorship needed and either provide it themselves or assign a team member. “We find that when you assign mentors during onboarding, they become lifelong collaborators,” Franso notes.

The Future of Flexible Work

Looking ahead, H.W. Kaufman Group sees the future of flexible work as fluid and evolving. “It requires active management, research, trial and error, and flexibility to adapt to changing business needs,” Franso explains. The company remains committed to creating schedules that fit their business objectives and stakeholder needs.

“There’s no one-size-fits-all solution. It requires work, commitment, and grit,” Franso concludes, highlighting the importance of finding the right talent aligned with this mindset.

In a world where remote work is becoming the norm, H.W. Kaufman Group’s handshake culture offers a balanced approach, integrating the best of both in-person and remote work to foster strong client relationships and employee well-being. The focus on balancing employee experience with client needs reflects a theme I always emphasize with my clients when helping them overcome the frustrations of implementing hybrid work models, and I’ll be citing Franso’s words as a great example of how to achieve such balance.

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About the Author

Dr. Gleb Tsipursky

Dr. Gleb Tsipursky was named “Office Whisperer” by The New York Times for helping leaders overcome frustrations with hybrid work and Generative AI. He serves as the CEO of the future-of-work consultancy Disaster Avoidance Experts. Dr. Gleb wrote seven best-selling books, and his two most recent ones are Returning to the Office and Leading Hybrid and Remote Teams and ChatGPT for Thought Leaders and Content Creators: Unlocking the Potential of Generative AI for Innovative and Effective Content Creation. His cutting-edge thought leadership was featured in over 650 articles and 550 interviews in Harvard Business Review, Inc. Magazine, USA Today, CBS News, Fox News, Time, Business Insider, Fortune, The New York Times, and elsewhere. His writing was translated into Chinese, Spanish, Russian, Polish, Korean, French, Vietnamese, German, and other languages. His expertise comes from over 20 years of consulting, coaching, and speaking and training for Fortune 500 companies from Aflac to Xerox. It also comes from over 15 years in academia as a behavioral scientist, with 8 years as a lecturer at UNC-Chapel Hill and 7 years as a professor at Ohio State. A proud Ukrainian American, Dr. Gleb lives in Columbus, Ohio.

Beyond Algorithms- Integrating AI Literacy and Technical Solutions to Combat and Win Bias

September 25, 2024

By Luca Collina and Roopa Prabhakar

Off we go again – another explanation about the AI

AI is now the focus of technology world with its pervasive influence. Technology is driving business growth and labour markets, and changing job processes in firms. Like it or not, AI has proved to stay.

There is an increasing number of organisations that are leveraging on this trend to make AI help them work faster and smarter. It is fast transforming industries.

So, artificial intelligence matters; it changes everything without officials’ consent. Let us now proceed with a clarifying l analysis of BIASES.

Defining AI Bias

There are several definitions of AI biases, many of which have already been discussed in business and academia. The aim here is to classify them based on their origin and impact on AI. It helps to understand the root cause and later to see what not-specialists have available to check and monitor.

AI bias is the concept in which AI systems render unfair decisions due to various factors. This occurs because either the data used to train an AI is inherently unfair or the individuals responsible for creating it are motivated by prejudice. In case of any form of bias is detected with respect to some aspect relating to an individual element of our lives, there exist certain deep-rooted prejudices among us that can be seen and detected across different levels throughout society, culminating in structural inequalities if not injustices themselves. This is a reason why two types of root causes are highlighted:

Social (Systemic Inequalities) Sources

Social hierarchies and inequalities

Technical (Data) Sources;

As for technical bias, the data sets used with ML for training carry historical, representation, and measurement biases and systemic inequity.

The combination is called Socio-technical biases.

Rationale for Addressing Biases

Here is a quick reminder about the type of biases in AI it is worth showing:

Measurement bias occurs when incorrect data are employed to comprehend a particular issue. For example, when deciding who can progress in life, if we only consider their financial ability, we might be wrong because wealth is not the only factor that determines success. (Lopez, 2021).
Aggregation Bias is when all the information is put together, and details about minorities can be overlooked. For example: you might not learn about abject poverty in a whole country if you examine just this population as entire. (ibid)
Learning Bias: The AI learns from its prior knowledge. When this prior knowledge contains unjust ideas, the AI can still adopt these new ideas. In such cases, this does not do away with old problems. (Blatz, 2021)
Labelling Bias: Misclassification bias refers to any mistake in giving labels to information. It is possible that people who are responsible for labelling may either make errors or impose their personal opinions when performing this task, which results an AI can employ these inappropriate tags for decision-making. (Jackson, 2024)
Selection Bias happens when there is not enough representation of some subjects in the data used for teaching artificial intelligence. For example, although face scanning systems work well on people with white skin, others who have black skin might not be scanned correctly because they were not sufficiently sampled into the system. (Manyika, Silberg and Presten, 2019)

Implications of AI Biases

Problems of AI Bias from an Ethical Perspective

One of the greatest challenges facing AI is bias. AI can be discriminative, disadvantaging many individuals, which is worse, especially during important decision-making processes like job recruitment or healthcare provision. Fairness demands that no man should be preferred over another in this context because it all goes back and supports old unfair scripts. Such institutions whose systems are flawed using it may encounter legal skirmishes with them being taken to court.

Influence of AI Bias on Community Development and Wealth Creation

Unjust AI has negative implications on society as well as economics. It becomes difficult for these individuals to live when they experience such challenges. These include acquiring education on an employment basis or even providing good health facilities within their regions. When AI keeps on repeating past errors about persons’ identification, it normalises discrimination, resulting in mistrust towards it. That way, people ended up not trusting AIs even more.

Concrete Cases of AI Bias

For instance, a woman could not get the same job opportunities she deserved as men do because, at some point, a certain artificial intelligence system discriminated against her. On one occasion, AI rejected minority groups’ loan applications more often than they did for other categories. Others were not as effective in diagnosing some medical conditions among patients from specific ethnicities, which led to more sick people (unfortunately, to be continued).

Approaches to Bias Mitigation in AI -Technical Solutions

Fortunately, there are tools that can aid in fixing it. The tools are designed to detect and mitigate bias in AI systems.

Below is a list of some of the tools. They have been built user-friendly to facilitate usage by varied individuals, including data professionals, researchers and consultants. A few check whether AI treats all users fairly, while others assist in reducing bias within an AI model. There are also tools for understanding fairness in both design procedures as well as outcomes.

They utilise various approaches to improving AI systems.

Tools Overview

Fairness Indicators (Tensorflow,2023) Tool to evaluate fairness in ML models by checking biases in demographic groups. AI Fairness 360 (IBM, nd) Open-source toolkit to detect and reduce bias in ML models. Fairlearn (Microsoft, nd) Toolkit to detect and mitigate bias in ML models.
Model Cards (Google, nd) Templates to document ML model performance, including fairness and bias. Ethical AI Toolkits (Pymetrics, nd) Tools to check for bias in AI systems, especially in hiring or decision-making.

AI Literacy: Education and Practical Training

While technical tools are important, they cannot be fully effective without widespread AI literacy. This crucial aspect involves:

Education:

Understanding the fundamentals of AI and machine learning
Recognizing different types of bias and their sources
Learning to critically evaluate AI systems and their outputs
Developing skills to interpret AI decisions and their potential impacts • Fostering an ethical mindset in AI development and deployment Practical Training:
Hands-on experience with bias detection and mitigation tools
Case studies and real-world scenarios
Ethical decision-making exercises in AI development

Ongoing Monitoring and Auditing

Implementing regular audits and continuous monitoring of AI systems to detect and address bias over time is GOVERNANCE. We proposed a model called DATA QUALITY FUNNEL ©, where algorithms and output monitoring can be organised within companies and with external consultants too, including Institutional Challenges– Risk assessments and Monitoring (Consultancy challenges and operational Challenges)

“Institutional Challenging: Institutions, by creating committees, including AI specialists and non-executive directors, may establish overarching rules to guide decisions with both artificial intelligence technology and human expertise.

Consultancy Challenging: These challenges may be tackled by external professionals who utilise critical assessment to produce more substantial and sustainable outcomes through independent and impartial opinions.

Operational Challenging: These challenges are for the operations staff who watch directly how the AI systems work on tasks. They can run checks and raise issues about problems to rectify algorithms and improve them through an escalation process, but they don’t intervene in modifying the algorithms.” (Collina, Sayyadi & Provitera, 2024)

Summing up

In order to efficiently mitigate bias in AI, companies should incorporate AI education within their main operations and put up comprehensive structures governing the technology. The future of AI does not exclusively depend on its level of technical advancement but also on our capacity for responsible and ethical governance.

It intimidates developing a stage where AI literacy becomes part of an organisation by truth and life employees can use to question AI systems critically (analyse tricklingly) from within addressing its source due to this environment norm.

The Internal regulations and accountability systems form the foundation of this process while ensuring that bias is proactively identified and corrected requires transparent procedures for monitoring and auditing AI decisions. Businesses should also ensure that there is always an attitude of “continuous improvement” within themselves where evaluation of technical measures cannot be used.

AI Literacy Programs

Make AI literacy programs the norm: have regular employee training sessions on AI basics, including its ethical connotations and how to deal with bias in the workplace.

Internal Governance Structures

The establishment of a system of governing similar to the Data Quality Funnel® that incorporates continuous bias audits as well as persistent monitoring ought to be developed.

Continuous Feedback Loops

It is better to use both external consultants and internal monitoring and feedback systems, which refine AI systems in real-time, thus making them robust over time.

By marrying AI literacy with strong internal governance mechanisms, organisations can move beyond just addressing personal prejudices to becoming pioneers of responsible AI innovation.

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About the Authors

Roopa Prabhakar holds a master’s degree in Electronics & Communication Engineering and has over 20 years of experience in data & analytics and currently serves as a Global Business Insights Leader at Randstad Digital. She specializes in modernizing & migrating legacy technology towards AI-enabled systems, bridging traditional IT roles with AI-powered functions. As an independent researcher, Roopa focuses on gender bias in AI, informed by works from UN Women and the World Economic Forum. She is actively building a “Women in AI “community and champions “Women in Digital initiatives” within her company, aiming to increase female representation in AI and provide support for women in technology. Roopa is passionate about promoting ethical practices that address historical biases against women and continues to upgrade her skills to contribute positivity to the AI landscape.

Luca Collina’s background is as a management consultant He has managed transformational projects, also at the international level (Tunisia, China, Malaysia, Russia). He now helps companies understand how GEN-AI technology impacts business, use technology wisely, and avoid problems. He has an MBA in Consulting, has received academic awards, and was recently nominated for Awards 2024 by the Centre of Management Consultants for Excellence. He is a published author. Thinkers360 named him one of the Top Voices, Globally and in EMEA in 2023, and currently is among the 10# thought leaders in Gen-AI and 1# in Business continuity. Luca continuously upgrades his knowledge with experience and research to transfer it. He is ready to launch the interactive courses on “AI & Business” In September 2024.

References

Blatz, J. (2021). Using Data to Disrupt Systemic Inequity. Stanford Social Innovation Review. Available athttps://ssir.org/articles/entry/using_data_to_disrupt_systemic_inequity [Accessed 8 Sep. 2024
Collina, L., Sayyadi, M. & Provitera, M., 2024. The new data management model: Effective data management for AI systems. California Management Review. Available at: https://cmr.berkeley.edu/2024/03/the-new-data-management model-effective-data-management-for-ai-systems/ [Accessed 04 Sept. 2024].
Google (nd) Model Cards. Available at: https://modelcards.withgoogle.com/about (Accessed: 9 September 2024). 4. IBM (nd) AI Fairness 360. Available at: https://aif360.res.ibm.com/ Accessed: 9 September 2024
Jackson, A. (2024). The Dangers of AI Bias: Understanding the Business Risks. AI Magazine. Available at: https://aimagazine.com/machine-learning/the-dangers of-ai-bias-understanding-the-business-risks [Accessed 9 Sep. 2024].
Lopez, P. (2021). Bias does not equal bias: a socio-technical typology of bias in data-based algorithmic systems. Internet Policy Review,[online] 10(4). Available at: https://policyreview.info/articles/analysis/bias-does-not-equal-bias-socio technical-typology-bias-data-based-algorithmic [Accessed: 7 Sep. 2024].
Manyika, J., Silberg, J. and Presten, B., 2019. What AI can and can’t do (yet) for your business. Harvard Business Review. Available at: https://hbr.org/2019/01/what-ai-can-and-cant-do-yet-for-your-business [Accessed 10 Sep. 2024].
Microsoft (nd) Fairlearn: A toolkit for assessing and improving fairness in AI. Available at: https://fairlearn.org/ (Accessed: 9 September 2024).
Pymetrics (nd) Audited & Ethical AI. Available at: https://www.pymetrics.ai/audited-ethical-ai (Accessed: 9 September 2024).
TensorFlow (2023) Fairness Indicators. Available at: https://www.tensorflow.org/tfx/guide/fairness_indicators (Accessed: 9 September 2024).

Mitsubishi Electric Commits to Boosting Women in Leadership Through 30% Club Japan Membership

September 24, 2024

Mitsubishi Electric Corporation (TOKYO: 6503) has announced its membership in the 30% Club Japan, a global initiative aimed at increasing the representation of women in key corporate decision-making roles. Launched in the United Kingdom in 2010, the 30% Club has since expanded to over 20 countries, with a target of achieving at least 30% female representation on the boards of TOPIX 100 companies in Japan by 2030.

As part of its commitment to Circular Digital-Engineering, Mitsubishi Electric emphasizes the importance of fostering an inclusive workplace where every employee can fully express their individuality and skills. The company’s human-capital strategy aims to “grow together with our people and build a brighter future with the power of human capital.” Mitsubishi Electric believes that enhancing women’s participation through diversity, equity, and inclusion (DE&I) initiatives is vital for its sustainable growth.

Since 2006, Mitsubishi Electric has focused on work-life balance through its Career Management & Personal Life Well-balanced Plan (CP-Plan) Promotion Center, making the promotion of women’s active participation a core objective. The company has implemented various initiatives to increase female employment and enhance leave systems. In recognition of these efforts, Mitsubishi Electric received the Eruboshi Certification (Grade 2) from Japan’s Minister of Health, Labour and Welfare in 2020, acknowledging its compliance with the Act on Promotion of Women’s Participation and Advancement in the Workplace.

Related Readings

Small business, Big Impact: The Transformative Power of Women Entrepreneurs

Collect and Respect: Six Steps to Making Better Leadership Decisions

Putting Black Women on the Technology Map: Interview with Flavilla Fongang, Co-Founder of GTA Black Women

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DiamondWhale Review – Unveiling the Broker’s Offerings and Account Benefits

September 24, 2024

In the fast-paced world of trading, staying ahead requires more than just intuition; it demands access to cutting-edge technology and a deep understanding of market dynamics. DiamondWhale emerges as a prominent player in this competitive field, offering traders an advanced platform designed to streamline the trading process and enhance decision-making. As financial markets continue to evolve, DiamondWhale positions itself as an essential tool for traders seeking to navigate this complex landscape with confidence.

In this DiamondWhale review, we delve into the features and benefits of this innovative broker, exploring how it provides the tools and resources necessary for traders to not only meet the demands of the modern market but also excel within it.

Tradable Assets Offered by DiamondWhale

When evaluating an online broker, the variety of tradable assets available is a key consideration. For those assessing their options, this DiamondWhale review provides a detailed overview of what this broker has to offer in terms of asset diversity. DiamondWhale has made a name for itself by offering a broad range of tradable assets, catering to diverse trading strategies and preferences.

Stocks

Among the core asset classes available on DiamondWhale are stocks. The platform provides access to a wide array of stocks from leading global companies, spanning various industries and regions. Whether you’re interested in major tech firms or emerging market stocks, DiamondWhale’s selection allows traders to build a varied portfolio and tap into significant market opportunities.

Indices

Indices represent another crucial component of DiamondWhale’s offerings. Traders can engage with major stock indices that track the performance of a collective group of stocks within specific regions or sectors. This feature enables investors to trade on broader market trends and gain exposure to a comprehensive market segment with a single trade.

Commodities

Commodities also feature prominently in DiamondWhale’s asset lineup. With the ability to trade commodities such as gold, oil, and agricultural products, traders can hedge against market volatility and capitalize on price movements driven by global economic factors. DiamondWhale’s platform provides the tools needed to trade commodities effectively and make informed decisions based on market dynamics.

Forex

The forex market is a significant aspect of DiamondWhale’s trading environment. Offering a wide range of currency pairs, from major to exotic, DiamondWhale allows traders to take advantage of fluctuations in currency values and economic conditions across different countries. The liquidity and global reach of the forex market provide ample opportunities for traders to engage in currency trading with confidence.

Cryptocurrencies

In addition to traditional asset classes, DiamondWhale has expanded its offerings to include cryptocurrencies. The platform provides access to a variety of digital currencies, including major players like Bitcoin and Ethereum, as well as emerging altcoins. This inclusion allows traders to participate in the rapidly evolving cryptocurrency market and capitalize on the unique opportunities it presents. DiamondWhale’s cryptocurrency trading features are designed to support both experienced and novice traders in navigating this dynamic sector.

Bundles

A unique feature of DiamondWhale is its Bundles—curated baskets of assets designed to offer diversified exposure through a single trade. These ETFs provide balanced access to various financial markets, making them an attractive option for traders looking to simplify their investment strategy while still benefiting from broad market exposure. The expert curation of Bundles ensures that traders receive a well-balanced and strategic approach to market participation.

DiamondWhale’s diverse range of tradable assets makes it a versatile choice for traders with different preferences and strategies. From stocks and indices to commodities, forex, cryptocurrencies, and Bundles, DiamondWhale provides a comprehensive suite of tools and assets to support a broad spectrum of trading activities. By offering such a wide variety of investment options, DiamondWhale enables traders to navigate the complexities of the financial markets and pursue their investment goals with greater flexibility and confidence.

Comprehensive Look at the Account Options Offered by DiamondWhale

Choosing the right trading account can significantly impact a trader’s experience and success. In this context, this DiamondWhale review provides valuable insights into the various account types offered by the broker. DiamondWhale caters to different levels of traders by providing a range of account options, each with distinct features designed to meet diverse trading needs and preferences.

Silver Account

For those just starting out or trading with a modest budget, the Silver account at DiamondWhale is an accessible option. With a minimum deposit requirement of $250, this account provides an entry point for traders looking to engage in the markets with relatively low initial capital. The Silver account offers spreads starting from 1.5 pips and a maximum leverage of 1:200. Traders who sign up for this account can benefit from a signup bonus of up to 30%. Additionally, the account includes an introductory call from a personal account manager, ensuring that new traders receive personalized guidance as they embark on their trading journey.

Gold Account

The Gold account is designed for traders who are ready to commit a higher amount of capital and seek more advanced features. With a minimum deposit of $2,500, this account offers competitive spreads starting from 1.5 pips and allows for a higher leverage of up to 1:300. A significant perk of the Gold account is the potential signup bonus of up to 50%. Traders with this account also gain access to Trading Central’s research and analytics, providing valuable insights and tools to enhance their trading strategies.

Platinum Account

For those seeking an even more enhanced trading experience, the Platinum account offers a range of benefits. With a minimum deposit requirement of $10,000, this account provides tighter spreads starting from 0.8 pips and allows for a maximum leverage of up to 1:400. The Platinum account includes a bonus of up to 70% and grants access to Trading Central’s research and analytics. Additionally, traders with a Platinum account benefit from a monthly session with a senior market analyst, offering personalized insights and strategies to refine their trading approach.

Diamond Account

At the top tier, the Diamond account represents the most exclusive offering from DiamondWhale. Requiring a minimum deposit of $50,000, this account provides the most favorable trading conditions, including spreads starting from 0 pips and a maximum leverage of up to 1:500. The Diamond account comes with a substantial bonus of up to 100% and includes comprehensive access to Trading Central’s research and analytics. Furthermore, Diamond account holders receive weekly sessions with a senior market analyst, ensuring that they have ongoing, high-level support and insights to maximize their trading potential.

This DiamondWhale review highlights the broker’s commitment to providing a range of account options tailored to various trading needs and investment levels. From the entry-level Silver account to the premium Diamond account, each option offers distinct features designed to support traders at different stages of their trading journey. By understanding the benefits and requirements of each account type, traders can make informed decisions and select the account that best aligns with their trading goals and strategies.

Conclusion

In this DiamondWhale review, we’ve explored the various facets of what makes this online broker a notable choice for traders at different levels. From its diverse range of tradable assets, including stocks, indices, commodities, forex, cryptocurrencies, and Bundles, to its tiered account options—Silver, Gold, Platinum, and Diamond—DiamondWhale demonstrates a clear commitment to accommodating a wide array of trading preferences and needs. Whether you’re just starting out or seeking advanced trading tools and personalized support, DiamondWhale provides a structured pathway to meet your investment goals.

As reflected in this DiamondWhale review, the platform’s emphasis on technology, comprehensive market access, and dedicated support underscores its role in helping traders navigate the complexities of the financial markets. By offering a range of account options and a broad spectrum of tradable assets, DiamondWhale aims to equip traders with the tools and resources needed to thrive in a competitive trading environment.

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6 Interesting Ways AI is Revolutionizing HR

September 23, 2024

HR handshaking successful candidate getting hired at new job, closeup — *Image from Freepik*

Artificial intelligence (AI) is changing the way businesses manage their workforces. AI is being incorporated into the human resources (HR) industry. AI is becoming an essential tool as companies face increasing pressure to increase productivity, improve employee satisfaction, and make data-driven choices. Artificial intelligence (AI) has begun to streamline and improve HR operations in previously unthinkable ways, from hiring to employee retention. AI-driven solutions are currently being used by businesses to expedite processes, enhance decision-making, and offer individualized employee experiences. This article examines six major ways AI is changing the HR industry and the workplace.

Improved Employee Onboarding

The process of onboarding is essential for a company’s integration of new hires. The effectiveness and retention rates of new hires can be severely impacted by a chaotic or ineffective onboarding process. AI is improving onboarding by automating administrative duties and customizing the experience for each employee, especially when trying to build diverse teams. AI chatbots, for example, can assist with new hire orientation, respond to frequently asked inquiries, and make sure paperwork is completed quickly. AI-driven onboarding systems can also monitor an employee’s development and provide resources specific to their tasks and requirements, making the onboarding process more interesting and encouraging for them. For new hires, this results in a more seamless onboarding experience, increased engagement, and faster productivity.

AI-Powered Recruitment

The recruitment process is one area where AI is having the most impact on HR. Conventional hiring procedures can be subjective and time-consuming, which frequently results in unfit candidates or lengthy hiring cycles for businesses. AI is altering this by automating the processes of finding, vetting, and evaluating candidates. Practical AI recruiting systems can lessen bias by analyzing resumes, matching candidate profiles to job criteria, and even ranking candidates according to their qualifications. This automation increases the likelihood of finding the perfect candidate for the company while freeing up HR professionals to concentrate on more strategic duties like relationship-building and interviewing. Businesses that use AI for recruitment have noted enhanced candidate experiences, quicker hiring procedures, and a rise in diversity.

Enhanced Employee Engagement and Retention

A strong workplace culture depends on engaged employees, and AI may be a big help in monitoring and enhancing this. Real-time employee satisfaction monitoring is possible using AI-driven sentiment analysis systems that monitor employee comments, survey replies, and other communication channels. These systems can spot patterns in worker behavior, such as rising absenteeism or declining productivity, and notify HR of any problems before they get out of hand. Additionally, by examining trends in their work habits and engagement levels, AI can identify which employees are most likely to leave the organization. AI assists HR professionals in developing focused retention strategies, boosting workplace morale, and lowering attrition rates by offering data-driven insights.

Streamlined Performance Management

Smiling female hr handshaking businesswoman at group meeting or interview — *Image from Freepik*

Employee unhappiness stems from the subjectivity and inconsistencies that afflict traditional performance appraisals. AI’s ability to provide data-driven evaluations and real-time feedback is transforming performance management. AI-powered systems can monitor key performance indicators (KPIs) for employees, including output, quality of work, and goal achievement, all year round. These platforms can evaluate this data and offer individualized feedback, identify areas for growth, and indicate possibilities for training or development. By guaranteeing that workers receive prompt assistance and acknowledgment, this continuous performance management strategy promotes an environment of responsibility and development. Additionally, it lessens the pressure and prejudice frequently connected to yearly reviews, resulting in a system of performance evaluation that is more open and efficient.

AI-Driven Learning and Development

In a company environment that is changing quickly, learning and development (L&D) is essential to maintaining employee engagement and competitiveness. AI is revolutionizing learning and development (L&D) by tailoring curricula to each worker’s preferences for learning and career trajectory. AI-powered systems can evaluate a worker’s present level of knowledge, monitor their development, and suggest pertinent training programs or courses. These systems can also forecast future skill requirements for staff members based on company objectives and industry trends. AI makes sure that workers obtain the training necessary to succeed in their positions and get ready for new challenges by providing customized learning experiences. This promotes long-term organizational performance in addition to raising employee satisfaction.

Improved Compliance and Risk Management

HR departments are in charge of making sure businesses abide by internal policies, labor laws, and regulations. If this isn’t done, there may be steep fines and reputational harm to the business. Artificial Intelligence is increasing the efficiency of compliance management by automating the monitoring and reporting of regulatory changes and possible hazards. Artificial intelligence (AI)-powered systems can track and evaluate worker data to spot possible noncompliance problems, like irregular work hours or a lack of diversity in hiring. They can also suggest preventive actions and highlight new dangers, such as workplace harassment or data security breaches. Artificial intelligence (AI) lowers the risk of non-compliance and legal liabilities while automating these operations, freeing up HR teams to concentrate on other strategic projects.

Artificial intelligence is a strong technology that is changing the way human resources are run; it is no longer just a buzzword in the computer industry. AI will probably play a bigger part in HR as it develops, providing even more creative answers to the problems faced by HR practitioners. Using AI in HR is about building a more productive, diverse, and future-ready staff, not just about being competitive. Companies will be better able to address the changing needs of both their workforce and the overall business environment as long as they continue to implement AI-driven HR strategies.

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Choosing the Right Building Insurance

September 23, 2024

Where the security of your home is concerned, building insurance plays a very important part in the equation. Just picture a night or morning when you rise to realize that your possessions have been affected by storm or some accident. Without these covers, you can be left out to prepare hefty repair bills not to mention heartaches. There is no denying that the process of selection of building insurance policy could be rather daunting given the myriad of options out there in the market. But fear not! This guide will therefore assist the client to wade through the many issues of building insurance. This will enable you make sound decisions that will protect your investment and provide with relief for many years. Now it is high time to find out what this compulsory coverage involves!

Understanding Building Insurance

Business property insurance is aimed at offering your structures different forms of cover. It refers to aspects of your home such as fences, walls, roofs, floors and any other system used for construction of your house. In other words, it plays the role of an indemnifying mechanism in regards to homeowners.

Such insurance mostly covers items such as fire, storm, theft and vandalism. In terms of the policy you are going to purchase, it may also include extra building for instance; garages or fences.

To understand building insurance it means appreciating the need for it in the protection of an investors’ asset. Lack of coverage means that after such an occurrence, you can be financially ruined or it could be costly to recover depending on the incident that has happened.

Policies reflect different degree of coverage and the services which may or may not be included. Often, one has to go through the terms and conditions of the offered plan to understand which services are offered in the plan. This knowledge will enable you to make better decisions that suits your needs and circumstances to the later.

Types of Building Insurance Coverage

And this is where it becomes important to get acquainted with differing kinds of Building Insurance. They both are useful in one way or another depending on a certain situation.

Basic policies usually concern damages to the physical appearance of the particular building due to a particular event such as fire, storm among others. The basic protection is a good starting point for many homeowners and is quite basic for many individuals as well.

Some of the features that are usually considered when selecting the extended coverage could be focused on issues such as the theft, vandalism, and other conditions not covered by the standard policies. It could be justified for those based in such areas for such a layer to offer the extra measure needed.

The other type of coverage is the guaranteed replacement cost insurance. This ensures that in the event of a disaster where the current value of homes is low your home can be rebuilt even in the prevailing market prices.

Specifically for landlords or property investors, there is landlord insurance that regards risk associated with tenants namely, loss of rental income due to events beyond their control or tenant’s liability claims.

Evaluating the above different policy types facilitates the process of adapting the coverage in a right manner.

Factors to Consider When Choosing Building Insurance

However, the following factors come into consideration when going for building insurance. First, determine the value of all property, for civil law purposes. This include the building itself, fixtures that are fixed in the building as well as any extension of the building.

Next, consider your location. Housing structures in such regions may call for specific class of risks. Knowing your risks at a local level may also protect you in the future from numerous headaches.

Another important component is the claims history that you have made. Premiums and limiting policies are normally based on previous records of a given policyholder’s claims.

Review policy exclusions carefully. Basic plans might not always include some events and therefore it is imperative to have an understanding of what is included in the plan.

Things to consider include ensuring that the respective insurer is credible in terms of performance and customer care. A reliable service will stand out when called upon especially during the most inconvenient time.

Importance of Adequate Coverage

This is the reason why you need proper coverage in order to protect your investment you have made on property. That way, should calamity befall you, you can be sure that you won’t be utterly broke. In general, a well-developed policy is that the insurance can address many risks that range from the fire risk to the natural calamities risk.

If homeowners don’t get adequate insurance coverage, they can end up with partial insurance. In such circumstances, some expenditures may be beyond the capability of their policy, that is mainly to repair. This could actually lead to cash outlay for some of the large costs.

Furthermore, insurance is a protective measure since it insures enough coverage. That way, you’ll be able to invoke other sides of homeownership rather than thinking of various scenarios that can potentially cause you financial instability.

One should think also of liability protection which is often offered by these policies. This saves you from legal cases that may occur from accidents that happen in your premises-an important factor often missing in most building insurance.

Mistakes to Avoid When Choosing Building Insurance

Selection of a building insurance is a decision that requires extra care, here are some factors to avoid while selecting a building insurance. There is always a common slip-up, which is underestimating the cost price of replacing the property that has been lost. It is important to always assess your stock correctly so that you aren’t left shattered in the event of loss.

Another mistake is that people guilty of failing to read the policy in detail without giving it the attention it deserves. It is possible to receive rather ‘unpleasant’ surprises related to potential exclusions or restrictions of insurance coverage. Outlined below are some of the factors that you should not skimp on when looking for your required auto insurance policy.

Homeowners also allow extra living expenses which is also known as ALE. This aspect can assist to meet the expences in case of disaster, which can make you leave your house for some time.

Hence, people are misled whenever they are comparing different quotes without focusing on the minor aspects. The cheapest may not give the needful protection and therefore, other aspects should be considered apart from price variations.

Don’t forget about discounts! Most insurance service providers have different promotion aspects that include safety devices such as security systems or smoke detectors. These could bring down your premiums tremendously.

With these drawbacks in mind, you will be well-prepared to choose a building insurance plan that actually suits your requirements and won’t make you worry needlessly.

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Sanae Takaichi Emerges as Frontrunner in Japan Leadership Race

September 23, 2024

Japan is on the brink of making history by possibly appointing its first female prime minister ahead of the United States. Economic Security Minister Sanae Takaichi has emerged as one of the frontrunners in Japan’s ruling Liberal Democratic Party (LDP) leadership race, with the vote set for September 27. If successful, Takaichi would break a significant gender barrier in a country that has yet to see a female leader at its helm.

Takaichi, a hard-line conservative and supporter of the late former Prime Minister Shinzo Abe’s policies, is running against several male contenders, including Shinjiro Koizumi and Shigeru Ishiba. While she has gained support from the party’s right wing, some question her commitment to advancing women’s rights in a nation that ranks low globally on gender equality.

While the race remains unpredictable, a victory for Takaichi would represent a major shift in Japan’s political landscape.

Related Readings:

Japan’s PM Kishida to Step Down Amid Declining Support

Crafting a New Narrative for Japan’s Economy

Revisiting the Japan’s Economic Stagnation

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From Washington to Biden: How Past Presidents Affect the 2024 Presidential Race

September 23, 2024

2024 Election campaign buttons with the USA flag

The US 2024 Presidential Election is around the corner; as always, many anticipations have already been built. Being a world superpower, the whole world is interested in the US presidential election. Any candidate appointed to this prestigious post also makes many decisions that determine the future of many developing countries.

The legacies of past US presidents will play a crucial role in influencing voter expectations and candidate strategies in the 2024 presidential race. Candidates in the 2024 presidential election must carefully study the policies, leadership approaches, and key decisions of past presidents.

The stakes are high, and as the 2024 USA president election bookmaker odds suggest, candidates are drawing heavily on historical leadership to shape their policies and address current challenges. Reflecting on the lessons of history aims to guide the nation forward while navigating modern-day complexities.

This article covers the highlights of some of the most successful US presidents, which may affect the 2024 US election.

The Legacy of Founding Presidents and Its Influence

George Washington’s peaceful transitions of power have become more relevant in today’s election scenario, especially after the controversy surrounding the 2020 election. His focus on unity and neutrality set a standard for nonpartisan leadership, which remains a touchstone for candidates advocating for national cohesion.

Thomas Jefferson’s role in shaping early party politics helped establish the two-party system still central today. His ideals of democracy, liberty, and limited government remain influential, especially in the 2024 race, where debates on personal freedoms and governance are at the forefront, reflecting Jefferson’s lasting impact.

Lincoln and Roosevelt: Leadership During Crisis

Abraham Lincoln (the global icon) took over the country when there was a civil war. His outstanding leadership and unwavering focus on unity and preservation pulled the U.S. out of that crisis. This leadership style is relevant in the 2024 US election as well amidst rising political polarization.

Franklin D. Roosevelt’s leadership during the Great Depression and World War II, emphasizing strong federal intervention and crisis management, offers lessons for candidates discussing economic recovery and public health crises like COVID-19. FDR’s New Deal continues to shape modern policy discussions on government intervention in economic recovery and social safety nets.

Post-War Presidents: Cold War and Domestic Policies

After the war, Harry Truman was selected as the US president, and he did a great job making foreign policy decisions such as establishing NATO and setting the stage for America’s role as a global leader. His vision of maintaining global influence and the military alliances of the United States still influences the candidates today.

Dwight D. Eisenhower and John F. Kennedy set foundational goals in infrastructure and space exploration, which resonate with modern campaigns focused on technological innovation and rebuilding infrastructure, which are critical in discussions of energy and space technology.

Lyndon B. Johnson’s Great Society initiatives continue to influence debates on social programs like healthcare and education, key issues for the Democratic platform in 2024.

Obama and Trump: The Most Recent Legacies

Barack Obama’s presidency shapes the 2024 Democratic platform through key policies like the Affordable Care Act, climate change initiatives, and focus on diversity.

Meanwhile, Donald Trump’s legacy of populism, nationalism, and political polarization heavily influences the Republican strategy, with immigration, trade protectionism, and deregulation as central issues in the GOP’s campaign.

Biden’s Presidency and Its Immediate Effect on 2024

Joe Biden’s administration is defined by its handling of the COVID-19 pandemic, economic recovery efforts, and climate action, which are central to both Democratic and Republican strategies in the 2024 election.

His foreign policy, particularly regarding Ukraine and NATO, shapes ongoing debates about U.S. global leadership. Biden’s focus on infrastructure investment and healthcare continues to set benchmarks for his party, while his handling of inflation and economic challenges will be critical issues for voters in 2024.

Conclusion

The legacies of past U.S. presidents from Washington to Biden continue to impact the 2024 presidential race, influencing both political strategies and voter expectations. By drawing on historical leadership, candidates aim to address current challenges while shaping the future. The lessons of history remain crucial in guiding the nation forward.

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Essential Preparations Before Heading to the Beach: A Comprehensive Guide

September 23, 2024

Blue sandal flip flop and towel on yellow sand

As the sun warms up and summer beckons, heading to the beach becomes a much-anticipated activity for many. However, the key to a successful and enjoyable beach outing lies in preparation. Beyond packing your swimwear and sunscreen, a range of thoughtful preparations can enhance your beach experience and ensure a day of relaxation and fun. From ensuring you have the right gear to planning your beach activities and understanding local regulations, this guide will walk you through essential steps to take before you head to the shore.

Plan Your Beach Day Ahead

Before heading to the beach, it’s crucial to plan your day carefully. Start by checking the weather forecast to ensure you’re heading out on a clear, sunny day with minimal wind. Consider the tide schedule, as high or low tides can significantly affect your beach experience. Research the beach you plan to visit—different beaches offer various amenities such as picnic areas, restrooms, and lifeguards. Knowing what to expect will help you pack more effectively and make your day more enjoyable. Additionally, check for any special events or restrictions at the beach that might impact your plans.

Pack a Beach Essentials Kit

Packing the right essentials can make all the difference. Start with the basics: swimwear, your practical beach towels, and a good pair of sunglasses. Sunscreen is a must—opt for a broad-spectrum SPF of at least 30 and remember to reapply every two hours, especially after swimming. Don’t forget a wide-brimmed hat to protect your face and neck. For added comfort, consider packing a beach chair or blanket, a sunshade or umbrella, and a cooler with refreshing drinks and snacks. Bringing along a waterproof phone case can also protect your electronics from sand and water damage.

Prepare for Safety and Health

Safety should always be a top priority when spending a day at the beach. Begin by packing a small but well-stocked first aid kit that includes essentials such as bandages, antiseptic wipes, pain relievers, and insect repellent. Even minor scrapes from sharp rocks or seashells can happen, so being prepared for these situations can prevent further complications. If anyone in your group has specific health concerns, such as asthma or allergies, ensure that you bring the necessary medications. If you’re traveling with children or elderly family members, make sure to account for their specific needs by packing extra water, snacks, or mobility aids if necessary.

Organize Your Beach Entertainment

A beach day can be as active or relaxing as you want it to be, but a little planning for entertainment will go a long way. If you enjoy being active, consider bringing along gear for beach sports such as volleyball, frisbee, or paddleball. These activities not only keep you moving but also make for great group fun. For water lovers, snorkeling gear, boogie boards, or even an inflatable raft can add excitement to your day. Just make sure to check that the beach allows these activities, and stay within designated swimming areas to avoid potential hazards. For those who prefer a more laid-back beach day, bring a good book or magazine to enjoy while lounging under the sun. A portable speaker can set the mood with your favorite playlist but remember to be considerate of those around you by keeping the volume at a reasonable level. If you’re bringing children, beach toys like buckets, shovels, and kites can provide endless entertainment.

Respect Beach Etiquette and Local Regulations

Understanding and adhering to beach etiquette and local regulations is crucial for an enjoyable experience for everyone. Be aware of the beach’s rules regarding smoking, alcohol consumption, and pet policies. Practice good beach etiquette by keeping noise levels down, cleaning up after yourself, and respecting the natural environment. Use designated trash and recycling bins to dispose of waste and avoid disturbing wildlife. If you’re planning to have a bonfire or barbecue, make sure to follow the beach’s guidelines for such activities to ensure safety and compliance.

Consider Transportation and Parking

Lastly, plan your transportation and parking arrangements ahead of time. If you’re driving, check for available parking options and any associated fees. Some beaches may have limited parking or require permits, so it’s beneficial to know these details in advance. Alternatively, consider using public transportation or ride-sharing services if available. If you’re planning to visit a popular beach, arriving early can help you secure a good parking spot and avoid the crowds. Also, consider carrying a beach cart or wagon to transport your gear more easily from the parking area to the beach.

A successful beach day requires more than just showing up with a towel and sunscreen. By taking the time to plan, pack essential items, and prepare for safety and entertainment, you set the stage for a relaxing and enjoyable outing. Understanding and respecting local regulations and beach etiquette further enhances the experience for everyone involved. With these preparations in place, you can look forward to a memorable beach day, free from the stress of last-minute concerns. So, get ready to soak up the sun, enjoy the waves, and create lasting memories on your next beach adventure.

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Remote Work Means Inclusion and Trust

September 23, 2024

By Dr. Gleb Tsipursky

Remote work has revolutionized the professional landscape, and few understand this better than Cristi Tobelmann, Senior Vice President of Human Resources at DaySmart Software. In a recent interview with me, Tobelmann shared her perspectives on how remote work fosters inclusivity and trust, drawing from her extensive experience in HR leadership and her role at DaySmart, a global software platform headquartered in Ann Arbor, Michigan. With employees spread across more than ten countries, DaySmart’s success in remote work offers valuable lessons for businesses navigating the evolving work environment.

The Power of Inclusivity

For Tobelmann, one of the most significant benefits of remote work is inclusivity. “Being able to cast a wide talent net helps us hire and retain the best talent,” she explained. This inclusivity is not just about geography; it extends to various demographic groups. Remote work offers unparalleled flexibility for working parents, especially mothers, by providing the balance needed to juggle professional and personal responsibilities. “As a working mom, having remote work is very beneficial,” she said, highlighting her passion for keeping mothers in the workforce.

One of the most significant benefits of remote work is inclusivity. “Being able to cast a wide talent net helps us hire and retain the best talent”.

Inclusivity also breaks down barriers for people with disabilities. Remote work reduces the challenges posed by transportation and accessibility, making it easier for individuals with disabilities to participate in the workforce. Furthermore, it caters to the preferences of introverts who may find traditional office settings overwhelming. “Being able to have your own comfort zone and work setup eliminates some of the nervousness or anxiety that you may have in a physical office,” Tobelmann noted.

Trust and Autonomy: The Backbone of Innovation

Tobelmann emphasized that trust and autonomy are crucial for a thriving remote work environment. “Remote work gives employees the feeling that we trust them—how they get their work done, where they get their work done,” she stated. This trust is particularly vital for a tech workforce that needs to be innovative and come up with new solutions.

One of the key advantages of remote work, according to Tobelmann, is the opportunity for uninterrupted “flow time.” This uninterrupted time is essential for deep, thoughtful work, whether it’s software coding for engineers or financial analysis for data professionals. “Being able to have uninterrupted time is really important if you’re doing deep thinking work,” she remarked, contrasting this with the constant social interactions typical of an office environment.

Overcoming Challenges in Remote Work

While remote work offers numerous benefits, it also presents challenges, particularly in fostering creativity and innovation. Tobelmann acknowledged that forming close relationships can be more difficult when interactions are limited to project-based meetings or virtual communications. “You have to really take the time and attention to build relationships,” she advised, emphasizing the importance of understanding customers and employees deeply to come up with creative solutions.

Cultural challenges and miscommunications are also potential pitfalls in a dispersed workforce. Time zone differences and varying cultural norms can complicate collaboration. Written communication, which lacks the nuance of face-to-face interactions, can lead to misunderstandings. “It’s hard to always convey the emotion that you want in a written word,” Tobelmann pointed out.

Strategies for Building Relationships

Building relationships in a remote setting requires intentional effort. Tobelmann explained that successful remote leadership cannot operate on autopilot. Managers must actively invest in developing their team’s strengths, recognizing their contributions, and maintaining regular communication. “You have to intentionally set time aside for communication and team building,” she emphasized.

To address the challenge of forming close relationships, DaySmart has implemented various strategies. These include using technology tools like Slack and Donut to facilitate random conversations and pairing employees for virtual coffee chats. The senior leadership team also engages in small group chats and “ask me anything” sessions to foster a sense of connection. “Lowering the threshold for interaction makes it more likely for folks to join in, especially younger employees,” Tobelmann noted.

Enhancing Creativity Through Virtual Activities

“In order to be really creative and innovative at work, we have to also feed ourselves as well,” she said, highlighting the importance of mindfulness and self-care.

Innovation often stems from casual interactions and weak ties between employees. To promote these interactions, DaySmart has explored various virtual activities. These include virtual coffee hours, where employees are randomly paired for casual chats, and group activities like video game sessions, virtual movie watching, and virtual escape rooms. “These activities help build bonds across groups and facilitate creativity and innovation,” Tobelmann explained.

Technology plays a crucial role in these efforts. Instant messaging platforms and chatbots can facilitate conversations, while outside facilitators can lead icebreaker activities to encourage team bonding. These initiatives are particularly important for younger employees who may have limited experience with physical office environments.

Looking Ahead: The Future of Remote Work

As DaySmart continues to refine its remote work culture, Tobelmann is excited about the potential for new developments in flexible work. One area she is particularly passionate about is integrating well-being into work practices. “In order to be really creative and innovative at work, we have to also feed ourselves as well,” she said, highlighting the importance of mindfulness and self-care.

Innovative research and management practices that blend well-being with professional development are emerging as key trends. Universities are beginning to incorporate these concepts into their curricula, recognizing the link between personal well-being and professional productivity. “Well-being is the key to unlocking our future potential in flexible work,” Tobelmann asserted.

Conclusion

As remote work continues to evolve, companies like DaySmart are leading the way by fostering inclusivity, trust, and creativity. By addressing the challenges and embracing the opportunities of remote work, they are setting a blueprint for the future of work in a global, interconnected world, and I will be sharing Tobelmann’s words of wisdom with my clients who I am helping overcome the frustrations associated with refining their hybrid work models.

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About the Author

Dr. Gleb Tsipursky

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