Focus on Facial Recognition
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Are we ready for Facial Recognition?
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We welcome its advantages. We use this technology to secure and unlock our most sophisticated smartphones, or to speed our way through airports and customs checkpoints............
….........or, are we being watched?
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Lack of agreement, or not enough questions?
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Perceptions of privacy versus intrusion vary greatly among cultures. In China, the Social Credit System, combined with surveillance, has contributed to a dramatic fall in crime.
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In the US, neighborhood security cameras are increasingly popular. While China has one camera in operation for every 2.3 citizens, the US has one for every 2.4 citizens.
False matches and even false arrests have been problematic, particularly with non-Caucasian faces. Several tech giants adopted a temporary moratorium on sales of these products.
Katherine Ng, of the UN PRI, tells Candriam that "the technology holds undeniable promise and could be a force for good [yet] carries risks... we welcome the efforts and thought leadership of investors."
See our White Paper, for a clearer vision into the questions investors should be asking.
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Do we have enough information for ESG analysis in EM Equities?
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Increasing analysis of ESG factors – Environmental, Social, and Governance – has required new types of information, and is incomplete for even the largest companies in the most sophisticated economies.
Do we have enough data to ESG analsysis for companies in the emerging markets?
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Tell us your opinion by clicking on one of the options below:
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option a
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No
Not enough even in the best economics
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option b
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Improving
Lagging best practice, but EM companies are beginning to see that collecting this type of information can make it easier to obtain financing.
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option c
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Yes
Investors always want more info, but with recent improvements in data, EM equity analysis benefits from ESG analysis.
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Are we ready for Facial Recognition Technology?
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Last time we asked you whether you thought society was prepared for the Facial Recognition. Clearly we all have a range of views, with no clear consensus!.
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option a
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NO
Facial recognition is not accurate, and the technology suffers from both gender and racial bias
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32%
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option b
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NOT YET
We need more time for the ethical conversations to catch up with the technology
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38%
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option c
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YES
It is a convenient and useful tool
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30%
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SUSTAINABILITY AT THE HEART OF EVERYTHING WE DO
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No trees, no bees ... No honey, no money.
Proud to support WeForest
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In a survey of our clients, you told us that you wanted carbon offsetting of our events. We listened!
In 2018, we began working with WeForest. Candriam is part of the growing trend of individuals and companies offsetting the carbon emissions of certain business activities. We now sponsor projects in Zambia, funding the regeneration of trees, empowering women to run their own nurseries selling fruit trees to farmers, and training bee-mentors.
The topic of deforestation, and reforestation, is important to Candriam. We joined 45 other investors in signing the Investors Policy Dialogue on Deforestation.
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A Picture paints a Thousand Words
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How long might this last?
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Since the Global Financial Crisis, growth-style equities have significantly outperformed value-style equities in Europe. While the value style has suffered from low and falling interest rates, financial trends are never a straight line! This picture reminds us that value stocks tend to lead in recoveries. Perhaps not the drama of 2000, but perhaps the more modest rotation seen in 2008 following the GFC.
Sector rotations can be brutal, yet attempting to predict their timing can be costly.
How long might this last?
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THE BOOK YOUR BOSS THINKS YOU'VE READ
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When John Barry first published his work in 2004, the glowing review by The New York Times mentioned 'It will never make the best-seller lists and was never intended to." Later that year, the National Academy of Science named it the outstanding book of the year in science and medicine.
Sixteen years later, Covid propelled this detailed and technical history to number one on The New York Times best-seller list.
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"The influenza pandemic was the first great collision between medicine and disease." – Barry, 2004
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Through Barry's fascinating medical history, we search for lessons for this century's post-pandemic economy.
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"It [Covid] has put vastly more stress on the economy [than the Spanish flu did]." – Barry, 2020
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The first clue Barry's history offers is the vast difference in demographics. The 1918-1920 influenza carried off the strongest -- mostly healthy young adults. The Covid-19 virus also has unusually little effect on infants and children, while decimating seniors. Geographically, a century ago the death toll in India and Africa was astounding. These two regions are doing rather better than last time.
With today's interconnected economy, will this speed our global economic recovery?
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Barry also notes that with a few famous exceptions, literature written immediately following the Bubonic Plague and the Spanish flu pandemics rarely referred to them – even though both created tremendous social and economic change. Might we also rapidly forget 2020 and 2021, resume our economies and our financial markets?
Many developed nation governments in 1918-1920 sacrificed transparency and safety to keep the war economy moving. In 2004, Barry stressed that governments lost the trust of the governed, and they needed both that trust and more efficient isolation and quarantine systems. Barry reminds that in 2020-2021, many governments have been transparent, while by contrast the US "is pretty close to dead last in the developed world in containing the virus." What can we take from this?
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Barry, John M. The Great Influenza: The Story of the Deadliest Pandemic in History. New York, NY, USA: Viking Penguin, 2004.
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Find more info on our website
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