AI ethics and systemic risks in finance

The paper suggests that AI ethics should pay attention to morally relevant systemic effects of AI use. It draws the attention of ethicists and practitioners to systemic risks that have been neglected so far in professional AI-related codes of conduct, industrial standards and ethical discussions more generally. The paper uses the financial industry as an example to ask: how can AI-enhanced systemic risks be ethically accounted for? Which specific issues does AI use raise for ethics that takes systemic effects into account? The paper (1) relates the literature about AI ethics to the ethics of systemic risks to clarify the moral relevance of AI use with respect to the imposition of systemic risks, (2) proposes a theoretical framework based on the ethics of complexity and (3) applies this framework to discuss implications for AI ethics concerned with AI-enhanced systemic risks.

Beyond existential and neoliberal explanations of consumers’ embodied risk-taking: CrossFit as an articulation of reflexive modernization

This study analyzes CrossFit as a marketplace culture that articulates several key dimensions of reflexive modernization. Through this analysis, we illuminate a different set of theoretical relationships than have been addressed by previous accounts of physically challenging, risk-taking consumption practices. To provide analytic clarity, we first delineate the key differences between reflexive modernization and the two interpretive frameworks—the existential and neoliberal models—that have framed prior explanations of consumers’ proactive risk-taking. We then explicate the ways in which CrossFit’s marketplace culture shapes consumers’ normative understandings of risk and their corresponding identity goals. Rather than combatting modernist disenchantment (i.e., the existential model) or building human capital for entrepreneurial competitions (i.e., the neoliberal model), CrossFit enthusiasts understand risk-taking as a means to build their preparatory fitness for unknown contingencies and imminent threats. Our analysis bridges a theoretical chasm between studies analyzing consumers’ proactive risk-taking behavior and those addressing the feelings of anxiety and uncertainty induced by the threat of uncontrollable systemic risks.

Exploring the Convergence of Resilience Processes and Sustainable Outcomes in Post-COVID, Post-Glasgow Economies

Resilience and sustainability have each offered a path forward for post-COVID economic recovery and a post-Glasgow global financial order. Yet, the relationships between these two concepts are largely unexplored in economic policy and investment strategies. In light of emerging systemic risks and global demands for more resolute investments in resilience and sustainability, this perspective article took the position that policymakers must begin to draw greater conceptual, empirical, and practical linkages between sustainability and resilience. This perspective article provided a simplified framework for understanding the positively reinforcing, negatively conflicting, and neutral relationships between different types of resilience and sustainability consistent with two propositions. The Reinforcement Proposition argues (i) that various resilience processes may drive sustainable outcomes, and/or (ii) that an allocation of sustainable resources may reinforce resilience processes, as well as the transformative adaptation of markets. Conversely, the Conflict Proposition argues (i) that certain resilience processes may perpetuate stability features that may thwart an economic transition toward sustainability, and/or (ii) that certain sustainability outcomes associated with reorganized economic structures and relationships may undermine resources for resilience. This framework provides policymakers with an opportunity to evaluate the convergent and conflicting trade-offs of resilience processes and sustainable outcomes.

Financial market development strategy in crisis: Analysis and recommendations

Subject. The article considers the development strategy of the Russian financial market under new economic conditions. Objectives. The purpose is to elaborate theoretical and practical proposals to improve the financial market strategy for boosting investment and economic growth in crisis. Methods. The study rests on strategizing, which allows to propose a number of initiatives to enhance the strategy of the financial market during the crisis period, based on trends, existing competitive advantages and opportunities of the Russian economy. Results. The paper shows the need to continue the transformation of the financial system, based not only on the liberal economic paradigm and recommendations of international institutions on the free movement of capital, but also on the use of its own strategy, aimed at economic development (including in industrial regions), enabling to address environmental factors. Conclusions. In times of crisis, it is necessary to stir up State institutions for development in financial markets, synchronize monetary and fiscal policies, strengthen the regulation of cross-border capital flows, and use the ESG strategies by public companies in Russia. The establishment of some additional restrictions on capital markets and the foreign exchange market by the financial regulator, the support for the ESG approach by State institutions for development and banks will mitigate systemic risks during crisis periods and attract financial resources to long-term investment projects of the real economy, encourage the growth of capitalization of companies, including in regions.

Open supra-aortic revascularization and arch reconstruction after previous TEVAR in a complex arch anatomy

We propose a technique to minimize the neurological and systemic risks involved in rerouting the blood flow toward the brain in a “single remaining vessel” configuration with a 90% stenosis by means of complete hypothermic cerebral protection associated with normothermic systemic blood flow with a “restitutio ad integrum” of the supra-aortic trunks flow. The perfusion of the brain and the arms was almost completely separated from the systemic perfusion by the deployment 1 year before of a thoracic endoprosthesis in association with complete chronic occlusion of the brachiocephalic trunk and a functioning carotid-subclavian bypass. The Free Flow of the prosthesis, which acted as a hook, moved the calcium toward the left carotid ostium, creating a 90% stenosis with intermittent acute cerebral hypoperfusion and amaurosis. We achieved an optimal result: The patient was discharged on postoperative day 7 with no neurological problems and with patency and direct blood flow in all the supra-aortic trunks.

Industry Impact of Covid Epidemic based on Event Analysis

On the day of the outbreak, the Covid epidemic brought huge systemic risks in China stock market, which even offset the positive effects brought about by the epidemic. For example, industries such as medicine did not show the expected general rise on the day of the epidemic. After the outbreak, with the rapid intervention of the government, investor confidence regained and they had high hopes for the market outlook. The market rebounded quickly and returned to the pre-epidemic level in less than 10 days. However, the performance of various industries in this process is different. This paper examines the impact of Covid epidemic on various industries in China based on the event analysis method.

Digitalization and Artificial Intelligence in Migration and Mobility: Transnational Implications of the COVID-19 Pandemic

Digitalization and artificial intelligence (AI) technologies in migration and mobility have incrementally expanded over recent years. Iterative approaches to AI deployment experienced a surge during 2020 and into 2021, largely due to COVID-19 forcing greater reliance on advanced digital technology to monitor, inform and respond to the pandemic. This paper critically examines the implications of intensifying digitalization and AI for migration and mobility systems for a post-COVID transnational context. First, it situates digitalization and AI in migration by analyzing its uptake throughout the Migration Cycle. Second, the article evaluates the current challenges and, opportunities to migrants and migration systems brought about by deepening digitalization due to COVID-19, finding that while these expanding technologies can bolster human rights and support international development, potential gains can and are being eroded because of design, development and implementation aspects. Through a critical review of available literature on the subject, this paper argues that recent changes brought about by COVID-19 highlight that computational advances need to incorporate human rights throughout design and development stages, extending well beyond technical feasibility. This also extends beyond tech company references to inclusivity and transparency and requires analysis of systemic risks to migration and mobility regimes arising from advances in AI and related technologies.

The Multiple Impacts of the COVID-19 Pandemic on China’s Oil Security and the Rising Green Opportunities

The COVID-19 pandemic has seriously challenged the global oil market, and coronavirus-induced oil prices crash, oil demand decline and global economic recession affect China’s oil supply as well. China has high oil vulnerability due to its rising oil import dependency which aggravates Beijing’s concerns about oil security, despite at a time of the pandemic-induced oil oversupply. This study uses the SWOT analytical model to identify the strengths, weaknesses, opportunities and threats in China’s oil sector, and the changes in opportunities and threats caused by the COVID-19 pandemic. The pandemic has brought multiple impacts to China’s oil security. Results from the analysis show that the existing opportunities such as oil investments in the Belt and Road Initiative (BRI) and domestic upstream opening-up have been weakened; new threats that the uncertainty over global oil demand-supply and decrease in global upstream investments have emerged; opportunities that an increase in domestic strategic petroleum reserve (SPR) and low-carbon development are rising amid the pandemic. Notably, the COVID-19 pandemic has demonstrated the vulnerability of the global oil market to systemic risks and accelerated the transition to renewable energy.

The Multiple Impacts of the COVID-19 Pandemic on China’s Oil Security and the Rising Green Opportunities

The COVID-19 pandemic has seriously challenged the global oil market, and coronavirus-induced oil prices crash, oil demand decline and global economic recession affect China’s oil supply as well. China has high oil vulnerability due to its rising oil import dependency which aggravates Beijing’s concerns about oil security, despite at a time of the pandemic-induced oil oversupply. This study uses the SWOT analytical model to identify the strengths, weaknesses, opportunities and threats in China’s oil sector, and the changes in opportunities and threats caused by the COVID-19 pandemic. The pandemic has brought multiple impacts to China’s oil security. Results from the analysis show that the existing opportunities such as oil investments in the Belt and Road Initiative (BRI) and domestic upstream opening-up have been weakened; new threats that the uncertainty over global oil demand-supply and decrease in global upstream investments have emerged; opportunities that an increase in domestic strategic petroleum reserve (SPR) and low-carbon development are rising amid the pandemic. Notably, the COVID-19 pandemic has demonstrated the vulnerability of the global oil market to systemic risks and accelerated the transition to renewable energy.