Accelerating global climate change drives new climate risks. People around the world are researching, designing, and implementing strategies to manage these risks. Identifying and implementing sound climate risk management strategies poses nontrivial challenges including (a) linking the required disciplines, (b) identifying relevant values and objectives, (c) identifying and quantifying important uncertainties, (d) resolving interactions between decision levers and the system dynamics, (e) quantifying the trade-offs between diverse values under deep and dynamic uncertainties, (f) communicating to inform decisions, and (...) (g) learning from the decision-making needs to inform research design. Here we review these challenges and avenues to overcome them. ▪ People and institutions are confronted with emerging and dynamic climate risks. ▪ Stakeholder values are central to defining the decision problem. ▪ Mission-oriented basic research helps to improve the design of climate risk management strategies. (shrink)

This article describes the peculiarities of the formation and modeling of the enterprise risk management system in modern conditions. The main purpose of the research is further development of theoretical and methodical principles and development of practical recommendations aimed at improvement of management of business risks of wholesale enterprises. The critical analysis of literature sources and approaches to solving problems of enterprise risk management testifies to the lack of attention of scientists of the present-day to (...) the investigated problem in the sphere of activity of enterprises of wholesale trade. The urgency of this problem is caused by the existing losses of wholesale companies due to imperfect management as a result of the influence of various business risks. The methodological basis of the research is the system of methods used to obtain the final results: theoretical generalization, scientific abstraction and comparison – to deepen the essence of the concept of "business risk"; analysis and synthesis, grouping – for classification of business risks in the sphere of wholesale trade; methods of analysis, synthesis and logical generalization – to obtain conclusions during determination of the state and problems of realization of business activity in the sphere of wholesale trade of enterprises of Ukraine; systematic approach – for improvement of system of management of business risks of enterprises of wholesale trade on the basis of commercial values. The object of the research is the business risk in the wholesale trade environment. In the article the further development of the risk-based apparatus has been made, the negative consequences of the impact of business risks on the activities of the wholesale trade enterprises have been clarified, the enterprise risk management system of the enterprises has been built, which will reflect an integrated approach to its realization, practical recommendations on the formation of a model of management of business risks of the wholesale trade enterprises on the basis of commercial values. The results of the survey can be useful for business structures, which are focused on improving the management of business risks. (shrink)

For the modern model of the market there are inherent existence of both a set of possibilities and a large number of hazards that are waiting for economic agents and which are generated by the need to make decisions in the conditions of considerable uncertainty about the future. Liquidity risk is one of the central places in the system of bank risks, is closely related to solvency and financial stability, and therefore its management is an extremely important element (...) of financial management of the bank. This paper is devoted to the consideration of theoretical approaches to the management of bank liquidity risks, as well as understanding the risk of unbalanced liquidity and its place in the system of bank risks. In the course of the study, the essence of the concepts of uncertainty, risk as such, economic risk and its varieties, including banking is gradually clarified. We offer our own definition of "bank risk" and describe its essence. Based on the understanding of the concepts of bank risks, liquidity balance, bank liq uidity, the essence of the risk of unbalanced liquidity is disclosed, its characteristics and main aspects of management are determined. In determining the risk of liquidity as a probability of a future state, when the bank may suffer losses due to the imbalance of demand for liquidity and availability at a certain point in time, we believe that the essence of liquidity management is reduced to the maximum balance of demand for liquid assets and their actual availability in a certain moment of time using special tools. Our paper also reveals the mechanism of information influence on bank liquidity and its leading role in liquidity risk management processes. Moreover, the paper discloses the conceptual constituents of organizational support for bank liquidity risk management. (shrink)

An extended analysis compared to observations shows that modern “globalised” world civilisation has passed through the invisible “complexity threshold”, after which usual “spontaneous”, empirically driven kind of development (“invisible hand” etc.) cannot continue any more without major destructive tendencies. A much deeper, non-simplified understanding of real interaction complexity is necessary in order to cope with such globalised world development problems. Here we introduce the universal definition, fundamental origin, and dynamic equations for a major related quantity of (systemic) risk (...) characterising real complex system development tendencies at any level of dynamics. Practically important conclusions are derived, opening further detailed applications in economy, finance and development practice. (shrink)

This article summarizes the question of finding effective solutions to ensure the excellence of modern business through the introduction of managerial innovations. The main purpose of the study is to improve the theoretical and methodological approach to the implementation of managerial innovations in the system of modern business solutions. Systematization of literature sources and approaches to solving the problem of improving business management through the introduction of managerial innovations indicates the widespread use of methodological approaches and methods of managerial (...) innovation, but much management issues to ensure business excellence, justification of new opportunities for its development remain unnoticed. The urgency of solving this scientific problem is that in conditions of growing uncertainty and risk, accelerating the transformation of business, the importance of ensuring its perfection in the long term economic development of Ukraine is growing. The methodological tools of research methods were a system of methods used to obtain the final results of the study: generalization and comparative analysis – to clarify the essence of the concept of «managerial innovation»; abstract-logical – to reveal the relationship between the use of information and communication technologies, business excellence and implementation of management innovations; system-analytical – in developing a model of business excellence based on the use of modern information and communication technologies. The object of research is the industrial enterprises of the modern economy of Ukraine, because they are the basis of economic formation, a source of replenishment of the country budget and form the export orientation of business. The article presents the results of abstract-logical analysis of the blocks of business excellence, which showed that at the present stage of its development, the introduction of managerial innovations should be associated with the digital transformation of business. The results of the system-analytical analysis are presented, which are the basis for the development of an economic model for business excellence. The results of the study can be useful for business structures (and in particular, business units of the industrial complex of Ukraine), which seek to increase the efficiency of decision-making in today's digital business transformation. (shrink)

International regulation of autonomous weapon systems (AWS) is increasingly conceived as an exercise in risk management. This requires a shared approach for assessing the risks of AWS. This paper presents a structured approach to risk assessment and regulation for AWS, adapting a qualitative framework inspired by the Intergovernmental Panel on Climate Change (IPCC). It examines the interactions among key risk factors—determinants, drivers, and types—to evaluate the risk magnitude of AWS and establish risk tolerance thresholds (...) through a risk matrix informed by background knowledge of event likelihood and severity. Further, it proposes a methodology to assess community risk appetite, emphasizing that such assessments and resulting tolerance levels should be determined through deliberation in a multistakeholder forum. The paper highlights the complexities of applying risk-based regulations to AWS internationally, particularly the challenge of defining a global community for risk assessment and regulatory legitimization. (shrink)

Risk assessment is one of the prerequisites for understanding its causes and possible consequences. We base our risk assessment on the principles described in the European standard EN 31000 - Risk Management Process. This standard comprehensively describes the continuous activities that are necessary in managing risks and minimizing their possible adverse effects on the operation of the system under investigation. In this activity, it is necessary to first identify the existing risks, then analyze and evaluate the (...) identified risks. In the analysis of existing risks, it is possible to use both qualitative and quantitative analytical methods, or combine them. We use qualitative methods in cases where we do not have a sufficient amount of input information, these are more subjective. Quantitative methods are more accurate, but also more demanding on input information and time. The choice of a suitable analytical method is a basic prerequisite for knowledge of risks and their evaluation. The values of individual risks obtained in this way are the basis for determining the measures that are ecessary to minimize them, i.e., to adjust them to an acceptable level. The draft measures are always based on the value of the individual components used to calculate the risk number, as well as on the value of the asset , which needs to be protected. Appropriately chosen analytical methods are one of the basic prerequisites for the consistent application of the principles of risk management, as a continuous process aimed at increasing the overall security of the system under study. In the article, the author describes the procedures used in risk assessment, as well as specific analytical methods that can be used in working with risks. The aim of identifying risk factors is to create a list of events that could cause undesirable disruption to ongoing processes. At this stage, we define all the risks that will be subsequently analyzed and evaluated. When identifying, we can use methods such as, e.g. SWOT, PHA (Preliminary Hazard Analysis) or CA (Checklist Analysis). Methods suitable for determining the causes and creating scenarios for the course of a risk event are ETA (Event Tree Analysis) or FTA (Fault Tree Analysis). The basic analysis of the system can be performed using the FMEA method (Failure Mode and Effect Analysis), which provides a numerical risk assessment. By comparison with the numerical value of the risk that we are willing to accept, we obtain 2 groups of risks. Acceptable, which will be given regular attention and unacceptable, which we will focus on in risk management and we will try to minimize its negative affect on the functioning of the system under study. (shrink)

This research tackled the challenges public secondary schools in Sagbayan District, Bohol, faced regarding records management. The study employed a mixed research design, combining both descriptive-qualitative and descriptive- quantitative methods. The qualitative phase involved conducting in-depth interviews and focus group discussions with relevant stakeholders involved in records management. On the other hand, the quantitative phase utilized survey questionnaires to gather data from relevant stakeholders to determine the acceptability of the proposed MIS among end-users. The first phase findings revealed (...) various challenges in records management faced by the schools, such as inefficient manual record-keeping systems, difficulties in data retrieval, and the risk of data loss due to inadequate backup procedures. These challenges highlighted the need for a comprehensive, technology-driven solution to streamline records management processes and ensure data security. The evaluation results in the second phase showed that the developed Management Information System (MIS) was well-accepted among the end users. The absence of any significant difference in the level of acceptability among the participants further validated the system's suitability for addressing their specific needs. The successful implementation of the MIS proved to be an effective solution to the records management challenges faced by the public secondary schools in Sagbayan District, Bohol. (shrink)

This study investigates the dynamic relationship between knowledge management systems, particularly emphasizing knowledge acquisition and dissemination, and their impact on academic staff's teaching motivation. By employing the Bayesian Mindsponge Framework (BMF), data from 676 academic staff at higher education institutions in Vietnam was analyzed, revealing a complex interplay of factors. Notably, positive associations were found between knowledge acquisition, knowledge dissemination, and teaching motivation. However, the interaction effect of knowledge acquisition and knowledge dissemination appeared to be negatively associated with teaching (...) motivation. This suggests the possible existence of a resource curse of knowledge in improving staff’s teaching motivation. It is recommended that the knowledge systems are refined to reduce complexity and that staff are trained with better knowledge processing methods for reducing resource curse risks. (shrink)

The EU Artificial Intelligence Act (AIA) defines four risk categories for AI systems: unacceptable, high, limited, and minimal. However, it lacks a clear methodology for the assessment of these risks in concrete situations. Risks are broadly categorized based on the application areas of AI systems and ambiguous risk factors. This paper suggests a methodology for assessing AI risk magnitudes, focusing on the construction of real-world risk scenarios. To this scope, we propose to integrate the AIA with (...) a framework developed by the Intergovernmental Panel on Climate Change (IPCC) reports and related literature. This approach enables a nuanced analysis of AI risk by exploring the interplay between (a) risk determinants, (b) individual drivers of determinants, and (c) multiple risk types. We further refine the proposed methodology by applying a proportionality test to balance the competing values involved in AI risk assessment. Finally, we present three uses of this approach under the AIA: to implement the Regulation, to assess the significance of risks, and to develop internal risk management systems for AI deployers. (shrink)

As part of our small contribution in dialogue toward better peace development and reconciliation studies, and following Toffler & Toffler’s War and Antiwar (1993), the present article delves into a realm of logic beyond the traditional confines of negation and the excluded middle principle, exploring the nuances of "Otherness" that transcend classical and Nagatomo logics. Departing from the foundational premises of classical Aristotelian logic systems, this exploration ventures into alternative realms of reasoning, specifically examining Neutrosophic Logic and Klein bottle logic (...) (cf. Smarandache, 2005). The study challenges conventional boundaries and explores the implications of embracing paradoxes and self-reference in logic systems, aiming to redefine approaches to understanding truth and reasoning. The paper investigates how these alternative logics open avenues for philosophical inquiry, redefining entropy, and potentially influencing innovative perspectives in free energy systems. Through this exploration, it seeks to expand the discourse on logic, welcoming a broader spectrum of thought beyond established frameworks; and we also discuss shortly a number of possible implementations including in risk management and also Klein bottle entropy redefinition (Tang et al, 2018). (shrink)

The ongoing evolution of advanced AI systems will have profound, enduring, and significant impacts on human existence that must not be overlooked. These impacts range from empowering humanity to achieve unprecedented transcendence to potentially causing catastrophic threats to our existence. To proactively and preventively mitigate these potential threats, it is crucial to establish clear redlines to prevent AI-induced existential risks by constraining and regulating advanced AI and their related AI actors. This paper explores different concepts of AI existential risk, (...) connects the enactment of AI red lines to broader efforts addressing AI's impacts, constructs a theoretical framework for analyzing the direct impacts of AI existential risk, and upon that proposes a set of exemplary AI red lines. By contemplating AI existential risks and formulating these red lines, we aim to foster a deeper and systematic understanding of the potential dangers associated with advanced AI and the importance of proactive risk management. We hope this work will contribute to the strengthening and refinement of a comprehensive AI redline system for preventing humanity from AI existential risks. (shrink)

Currently, under the conditions of permanent financial risks that hamper the sustainable economic growth in the financial sector, the development of evaluation and risk management methods both regulated by Basel II and III and others seem to be of special importance. The reputation risk is one of significant risks affecting reliability and credibility of commercial banks. The importance of reputation risk management and the quality of their assessment remain relevant as the probability of decrease in (...) or loss of business reputation influences the financial results and the degree of customers’, partners’ and stakeholders’ confidence. By means of imitating modeling based on Bayesian Networks and the fuzzy data analysis, the article characterizes the mechanism of reputation risk assessment and possible losses evaluation in banks by plotting normal and lognormal distribution functions. Monte-Carlo simulation is used to calculate the probability of losses caused by reputation risks. The degree of standardized histogram similarity is determined on the basis of the fuzzy data analysis applying Hamming distance method. The tree-like hierarchy based on the OWA-operator is used to aggregate the data with Fishburne's coefficients as the convolution scales. The mechanism takes into account the impact of criteria, such as return on equity, goodwill value, the risk assets ratio, the share of the productive assets in net assets, the efficiency ratio of interest bearing liabilities, the risk ratio of credit operations, the funding ratio and reliability index on the business reputation of the bank. The suggested methods and recommendations might be applied to develop the decision-making mechanism targeted at the implementation of reputation risk management system in commercial banks as well as to optimize risk management technologies. (shrink)

In this article, I show why it is necessary to abolish the use of predictive algorithms in the US criminal justice system at sentencing. After presenting the functioning of these algorithms in their context of emergence, I offer three arguments to demonstrate why their abolition is imperative. First, I show that sentencing based on predictive algorithms induces a process of rewriting the temporality of the judged individual, flattening their life into a present inescapably doomed by its past. Second, I demonstrate (...) that recursive processes, comprising predictive algorithms and the decisions based on their predictions, systematically suppress outliers and progressively transform reality to match predictions. In my third and final argument, I show that decisions made on the basis of predictive algorithms actively perform a biopolitical understanding of justice as management and modulation of risks. In such a framework, justice becomes a means to maintain a perverse social homeostasis that systematically exposes disenfranchised Black and Brown populations to risk. (shrink)

The declaration of the COVID-19 pandemic by the World Health Organization on March 11, 2020, led to unprecedented events. All regions of the world participated in implementing preventive health measures such as physical distancing, travel restrictions, self-isolation, quarantines, and facility closures. The pandemic started global disruption of socio-economic systems, covering the postponement or cancellation of public events, supply shortages, schools and universities’ closure, evacuation of foreign citizens, a rise in unemployment and inflation, misinformation, the anti-vaccine movement, and incidents of discrimination (...) toward people affected by or suspected of having coronavirus disease. Attempts have been made to protect the oldest age group at risk, but in many cases, this has led to over-restriction and age discrimination. The rationale for working on the Research Topic "Socio-economic systems in the post-pandemic world: Design thinking, strategic planning, management, and public policy" was the need to start reflecting on resilience and lessons learned from this public health event that revealed the global unpreparedness in critical areas. Also, the pandemic triggered both top-down and bottom-up responses that needed more in-depth analyzes. This Research Topic covers interdisciplinary contributions addressing new thinking, challenges, and transformations required for post-pandemic global, national, regional, and local realities. The presented Research Topic combines studies focused on recognizing the actions and interventions leading to the recovery of socio-economic systems during the tail end and after the pandemic. The studies delivered recommendations regarding, among others, the care of vulnerable, planning socio-economic restart, and imagining the "new normal.". (shrink)

Modern global economic challenges caused by the COVID-19 pandemic and various changes in the structure of the world market of goods and services require the developing of new models of economic systems management based on appropriate strategic management methodology, implementation innovation, use of prospects for various risks caused by the pandemic, implementation mechanisms for ensuring the security of economic systems. Ensuring effective management of economic systems in the current global challenges is impossible without the introduction of a (...) new concept of functioning and sustainable development of economic entities. To ensure effective management of economic systems in the context of modern global challenges it is necessary to determine the state of the economic process of entities and explore the impact of risks on current activities, justify and developing a system to overcome negative effects on economic activity and obtain a positive economic result. The effectiveness of developed conceptual provisions to ensure effective management of economic systems is determined by the ability of the management system to withstand the destructive effects of the external environment and due to the strengths to direct the resources of economic entities to maintain the economic process, able ensure to save resources and cover current costs economic entities, etc. (shrink)

On 11 March 2020, the World Health Organization declared a pandemic of the COVID-19 coronavirus disease that was first recognized in China in late 2019. Among the primary effects caused by the pandemic, there was the dissemination of health preventive measures such as physical distancing, travel restrictions, self-isolation, quarantines, and facility closures. This includes the global disruption of socio-economic systems including the postponement or cancellation of various public events (e.g., sporting, cultural, or religious), supply shortages and fears of the same, (...) schools and universities closure, evacuation of foreign citizens, a rise of unemployment, changes in the international aid schemes, misinformation, and incidents of discrimination toward people affected by or suspected of having the COVID-19 disease. The pandemic has brought to the fore unpreparedness in critical areas that require attention, amid prospects and challenges. Moreover, considerable reorganization efforts are required with implications for assets, resources, norms, and value systems. COVID-19 is challenging the concept of globalization and stimulating responses at the levels of local and regional socio-economic systems that lead to the mobilization of assets that have been unrecognized earlier on, such as various forms of economic capital, social capital, cultural capital, human capital, and creative capital. For example, through digital channels, local groups are forming to create schemes of support for physical and mental wellbeing. These emerging exchanges lead to various social and technological innovations by building on skills and assets that are less important in the free-market economy, such as empathy, skills for crafts, making and fixing; locally grown microgreens; and micromanufacturing. Isolation and local living are also making it much harder to ignore the civic responsibilities towards communities, meant as individuals, vulnerable groups, and local businesses. Whilst the pandemic is limiting physical participation, this challenging time is uncovering alternative ways of mutual support, which may create long-term benefits for socio-economic systems, including environmental and biodiversity protection, reduction of the air pollution, and climate action. The pandemic’s threat to public health will hopefully be overcome with implications for disruption for an extended period that we are unable to forecast at this stage. It is key to focus on studies recognizing the activities and interventions leading to the recovery of socio-economic systems after the pandemic. Reflecting and planning on how societies and economies will go back to “business as usual” requires new forms of communication and cooperation, imaginative design thinking, new styles of management, as well as new tools and forms of participation in various public policies. Many questions related to the care of the vulnerable, economic restart, and the risk of future pandemics, to mention but a few, are already occupying the academic, scientific, experts, and activist communities, who have started to imagine the “new normal.”. (shrink)

The notion of antifragility, an attribute of systems that makes them thrive under variable conditions, has recently been proposed by Nassim Taleb in a business context. This idea requires the ability of such systems to ‘tinker’, i.e., to creatively respond to changes in their environment. A fairly obvious example of this is natural selection-driven evolution. In this ubiquitous process, an original entity, challenged by an ever-changing environment, creates variants that evolve into novel entities. Analyzing functions that are essential during stationary-state (...) life yield examples of entities that may be antifragile. One such example is proteins with flexible regions that can undergo functional alteration of their side residues or backbone and thus implement the tinkering that leads to antifragility. This in-built property of the cell chassis must be taken into account when considering construction of cell factories driven by engineering principles. (shrink)

Migraine is a complex neurological disorder characterized by recurrent moderate to severe headaches, accompanied by additional symptoms such as nausea, sensitivity to light and sound, and visual disturbances. Accurate and timely diagnosis of migraines is crucial for effective management and treatment. However, the diverse range of symptoms and overlapping characteristics with other headache disorders pose challenges in the diagnostic process. In this research, we propose the development of an expert system for migraine diagnosis using artificial intelligence and the CLIPS (...) (C Language Integrated Production System) framework. The expert system utilizes a rule-based inference engine to analyze patient-reported symptoms and provide reliable diagnoses or probability scores indicating the likelihood of migraine. The knowledge base of the expert system is designed based on expert knowledge obtained from medical professionals specializing in migraines. The collected knowledge is translated into a structured format suitable for the CLIPS inference engine, incorporating rules and facts to represent the diagnostic criteria and associated symptoms. The system prompts users to provide relevant information about their symptoms, medical history, and potential triggers. It applies the defined rules and facts to evaluate the likelihood of migraine and generate accurate diagnoses or probability scores. Preliminary evaluation results demonstrate the potential of the expert system as a valuable tool for diagnosing migraines. A dataset of anonymized patient records with confirmed migraine cases was used to test the system. The diagnoses generated by the expert system were compared against the known diagnoses, and a high level of accuracy was observed, with 90% of cases correctly diagnosed as migraines. These results highlight the effectiveness and reliability of the system in assisting medical professionals in the diagnosis of migraines. The proposed expert system offers several advantages for migraine diagnosis. It leverages the collective knowledge and expertise of experienced migraine specialists, providing a standardized and consistent approach to diagnosis. The system can handle large amounts of patient data and effectively analyse complex relationships between symptoms, risk factors, and diagnostic criteria. Furthermore, it offers real-time feedback and recommendations, supporting medical professionals in their clinical decision-making process. Future work involves refining the expert system based on feedback from medical experts, expanding the knowledge base to encompass a wider range of symptoms and risk factors, and conducting further evaluations to enhance its accuracy and applicability in clinical settings. The development of an expert system for migraine diagnosis has the potential to improve the diagnostic process, leading to more effective management and treatment strategies for individuals suffering from migraines. (shrink)

This article solves the problem of ensuring database decision-making in conditions of growing uncertainty and risks based on the results of business diagnostics is solved in this article. The main purpose of the research is to further develop the methodology of forming an analytical database for making management decisions. The following methods formed the methodological basis of the research: abstract-logical – used to generalize theoretical approaches and confirm the practical significance of solving the problem of decision-making in conditions of (...) uncertainty and risk; system analysis – when building a model of decision-making while coordinating areas and methods of business diagnostics; generalization – when drawing conclusions based on research results. The results of solving the problem of decision-making by improving the methodological approach in selecting areas and methods of business diagnostics in the conditions of growing uncertainty and risks are given in the article. The results of the research have practical value for companies that seek to reduce uncertainty and risk in the decision-making process in business management. (shrink)

Complex systems are difficult to manage, operate and maintain. This is why we see teams of highly specialised engineers in industries such as aerospace, nuclear and subsurface. Condition based monitoring is also employed to maximise the efficiency of extensive maintenance programmes instead of using periodic maintenance. A level of automation is often required in such complex engineering platforms in order to effectively and safely manage them. Advances in Artificial Intelligence related technologies have offered greater levels of automation but this potentially (...) pivots the weight of decision making away from the operator to the machine. Implementing AI or complex algorithms into a platform can mean that the Operators’ control over the system is diminished or removed altogether. For example, in the Boeing 737 Air Max Disaster, AI had been added to a platform and removed the operators’ control of the system. This meant that the operator could not then move outside the extremely reserved, algorithm defined, “envelope” of operation. This paper analyses the challenges of AI driven condition based monitoring where there is a potential to see similar consequences to those seen in control engineering. As the future of society becomes more about algorithm driven technology, it is prudent to ask, not only whether we should implement AI into complex systems, but how this can be achieved ethically and safely in order to reduce risk to life. (shrink)

Attempt of trans-disciplinary analysis of the evolutionary value of bioethics is realized. Currently, there are High Tech schemes for management and control of genetic, socio-cultural and mental evolution of Homo sapiens (NBIC, High Hume, etc.). The biological, socio-cultural and technological factors are included in the fabric of modern theories and technologies of social and political control and manipulation. However, the basic philosophical and ideological systems of modern civilization formed mainly in the 17–18 centuries and are experiencing ever-increasing and destabilizing (...) risk-taking pressure from the scientific theories and technological realities. The sequence of diagnostic signs of a new era once again split into technological and natural sciences’ from one hand, and humanitarian and anthropological sciences’, from other. The natural sciences series corresponds to a system of technological risks be solved using algorithms established safety procedures. The socio-humanitarian series presented anthropological risk. Global bioethics phenomenon is regarded as systemic socio-cultural adaptation for technology-driven human evolution. The conceptual model for meta-structure of stable evolutionary strategy of Homo sapiens (SESH) is proposes. In accordance to model, SESH composed of genetic, socio-cultural and techno-rationalist modules, and global bioethics as a tool to minimize existential evolutionary risk. An existence of objectively descriptive and value-teleological evolutionary trajectory parameters of humanity in the modern technological and civilizational context (1), and the genesis of global bioethics as a system social adaptation to ensure self-identity (2) are postulated. -/- . (shrink)

The authors of the scientific monograph have come to the conclusion that мanagement of socio-economic transformations of business processes requires the use of mechanisms to support of entrepreneurship, sectors of the national economy, the financial system, and critical infrastructure. Basic research focuses on assessment the state of social service provision, analysing economic security, implementing innovation and introducing digital technologies. The research results have been implemented in the different models of costing, credit risk and capital management, tax control, use (...) of artificial intelligence and blockchain. The results of the study can be used in the developing of policies, programmes and strategies for economic security, development of the agricultural sector, transformation of industrial policy, implementation of employment policy in decision-making at the level of ministries and agencies that regulate the management of socio-economic and European integration processes. The results can also be used by students and young scientists in the educational process and conducting scientific research on global challenges and creation scenarios for the development of socio-economic processes. (shrink)

Important decisions that impact humans lives, livelihoods, and the natural environment are increasingly being automated. Delegating tasks to so-called automated decision-making systems can improve efficiency and enable new solutions. However, these benefits are coupled with ethical challenges. For example, ADMS may produce discriminatory outcomes, violate individual privacy, and undermine human self-determination. New governance mechanisms are thus needed that help organisations design and deploy ADMS in ways that are ethical, while enabling society to reap the full economic and social benefits of (...) automation. In this article, we consider the feasibility and efficacy of ethics-based auditing as a governance mechanism that allows organisations to validate claims made about their ADMS. Building on previous work, we define EBA as a structured process whereby an entity’s present or past behaviour is assessed for consistency with relevant principles or norms. We then offer three contributions to the existing literature. First, we provide a theoretical explanation of how EBA can contribute to good governance by promoting procedural regularity and transparency. Second, we propose seven criteria for how to design and implement EBA procedures successfully. Third, we identify and discuss the conceptual, technical, social, economic, organisational, and institutional constraints associated with EBA. We conclude that EBA should be considered an integral component of multifaced approaches to managing the ethical risks posed by ADMS. (shrink)

Low back pain (LBP) carries a high risk of chronicization and disability, greatly impacting the overall demand for care and costs, and its treatment is at risk of scarce adherence. This work introduces a new scenario based on the use of a mobile health tool, the Dress-KINESIS, to support the traditional rehabilitation approach. The tool proposes targeted self-manageable exercise plans for improving pain and disability, but it also monitors their efficacy. Since LBP prevention is the key strategy, the (...) tool also collects real-patient syndromic information, shares valid educational messages and fosters self-determined motivation to exercise. Our analysis is based on a comparison of the performance of the traditional rehabilitation process for non-specific LBP patients and some different scenarios, designed by including the Dress-KINESIS’s support in the original process. The results of the simulations show that the integrated approach leads to a better capacity for taking on patients while maintaining the same physiotherapists’ effort and costs, and it decreases healthcare costs during the two years following LBP onset. These findings suggest that the healthcare system should shift the paradigm towards citizens’ participation and the digital support, with the aim of improving its efficiency and citizens’ quality of life. (shrink)

The authors of the scientific monograph have come to the conclusion that ensuring food security during martial law requires the use of mechanisms to support agricultural exports, diversify logistics routes, ensure environmental safety, provide financial and marketing support. Basic research focuses on assessment the state of agricultural producers, analysing the financial and accounting system, logistics activities, ensuring competitiveness, and environmental pollution. The research results have been implemented in the different decision-making models during martial law, international logistics management, digital audit, (...) agricultural lending, integrated marketing system, risk management and diversification of Ukrainian agricultural exports. The results of the study can be used in the developing of food security policies, programmes and strategies, agricultural production development, decision-making at the level of ministries and agencies that regulate food security management processes. The results can also be used by students and young scientists in the educational process and conducting scientific research on food security during martial law and Ukraine’s recovery economy after the victory. (shrink)

Abstract: We examine how trustworthy behaviour can be achieved in the financial sector. The task is to ensure that firms are motivated to pursue long-term interests of customers rather than pursuing short-term profits. Firms’ self-interested pursuit of reputation, combined with regulation, is often not sufficient to ensure that this happens. We argue that trustworthy behaviour requires that at least some actors show a concern for the wellbeing of clients, or a respect for imposed standards, and that the behaviour of these (...) actors is copied in such a way that it becomes a behavioural norm. We briefly suggest what such behavioural norms might need to be if trustworthy behaviour is to be achieved, and consider how they might be supported; we describe the research that is necessary in order to understand these norms in more detail. We argue that the norms of traders are different from the norms of those engaged in other activities, since they are inevitably self-interested, and we consider the risk that traders’ norms might undermine those of other actors. We analyse the task for governance in dealing with this problem, and the role which leadership by a corporate board and management might play in doing this. We describe the need for further research in to describe how this might be done. (shrink)

Enterprise Risk Management involves the process of identification, evaluation, treatment, and communication regarding risks throughout the enterprise. To support the tasks associated with this process, several frameworks and modeling languages have been proposed, such as the Risk and Security Overlay (RSO) of ArchiMate. An ontological investigation of this artifact would reveal its adequacy, capabilities, and limitations w.r.t. the domain of risk and security. Based on that, a language redesign can be proposed as a refinement. Such analysis (...) and redesign have been executed for the risk elements of the RSO grounded in the Common Ontology of Value and Risk. The next step along this line of research is to address the following research problems: What would be the outcome of an ontological analysis of security-related elements of the RSO? That is, can we identify other semantic deficiencies in the RSO through an ontological analysis? Once such an analysis is provided, can we redesign the security elements of the RSO accordingly, in order to produce an improved artifact? Here, with the aid of the Reference Ontology for Security Engineering (ROSE) and the ontological theory of prevention behind it, we address the remaining gap by proceeding with an ontological analysis of the security-related constructs of the RSO. The outcome of this assessment is an ontology-based redesign of the ArchiMate language regarding security modeling. In a nutshell, we report the following contributions: (1) an ontological analysis of the RSO that identifies six limitations concerning security modeling; (2) because of the key role of the notion of prevention in security modeling, the introduction of the ontological theory of prevention in ArchiMate; (3) a well-founded redesign of security elements of ArchiMate; and (4) ontology-based security modeling patterns that are logical consequences of our proposal of redesign due to its underlying ontology of security. As a form of evaluation, we show that our proposal can describe risk treatment options, according to ISO 31000. Finally, besides presenting multiple examples, we proceed with a real-world illustrative application taken from the cybersecurity domain. (shrink)

The goal of this pilot study is to investigate expressions of the collective disquiet of people in the first months of Covid-19 pandemic, and to try to understand how they manage covert risk, especially with religion and magic. Four co-authors living in early hot spots of the pandemic speculate on the roles of science, religion, and magic, in the latest global catastrophe. They delve into the consolidation that should be occurring worldwide because of a common, viral enemy, but find (...) little evidence for it. They draw parallels to biblical works, finding evidence of a connection between plague and “social strife.” They explore changes in the purviews of science, religion, and magic, and how and why they have changed, as three systems of covert risk management. They speculate on the coming wave of grief when the world populations finally decide that too many people have died, and they envision cultural changes on the other side of the pandemic, to lifestyles, travel, reverse urbanization, and living and working in smaller communities. Using an unusual approach named “crowd-sourced ethnography”, they conduct un-traditional ethnography and speculate on management of covert risk in their native countries. (shrink)

From the perspectives of early warning and identification of risk, risk quantification and analysis, also as risk management, we propose recommendation, which includes analysis of citizen behavior in panic, cooperation of the institutions in Romania. The whole analysis will be performed from a perspective of the field of economic cybernetics. The 2019-nCoV coronavirus epidemic started in China's Wuhan city, which has spread throughout the country and subsequently, in a very short period of time, in several states, (...) being viewed as a global contagion effect that causes great concern. As the virus gets closer to Romania, it becomes worrying and citizens are already panicking. Therefore, in this article we will analyze, according to public data, what is the current situation and how well Romania is prepared to manage the risks arising from the confirmation of COVID-19 in the country and how the behavior of citizens in a state of panic is influenced. In addition, we analysed the medical system from Romania from the point of view of the analysis of the management of the viable system, in the situation of pandemic crisis the medical system being one of the sensitive points of any system. (shrink)

Risk Management Strategies and Investment Behaviors are considered important factors in the investing activities of the retail investors. This study seeks to determine the relationship between Risk Management Strategies and Investment Behavior of Generation Z retail investors. The study is a correlational research and purposive sampling was used to select the respondents for this study. Cochran’s formula was utilized to determine the total sample size or total number of respondents. Spearman’s Rank-Order Correlation was employed to assess (...) the significant relationship of Risk Management Strategies and Investment Behaviors. Based on the results, it showed that risk management strategies have a significant relationship with one or more of the investment behaviors. Risk avoidance has a significant relationship with confirmation bias. Risk reduction has a significant relationship with all of the investment behaviors such as overconfidence, loss-aversion, recency bias, and confirmation bias. Risk transfer shows a significant relationship with only loss-aversion and confirmation bias. And lastly, risk acceptance also has a significant relationship with all of the investment behaviors. This study recommends exploring other types of behavioral biases under cognitive bias and emotional bias to determine their correlation with risk management strategies. Also, broadening the sample size, demographic scope, and geographic scope of the study can improve the generalizability of the study and provide a more comprehensive understanding of the relationship between investment behavior and risk management strategies. The researchers also recommend to utilize interviews and focus group discussions to gain an in-depth understanding of the underlying values and attitudes concerning investment behavior. (shrink)

In this chapter, we will argue that the very concept of risk management must be called into question. The argument will take the form that the use of the phrase ‘risk management’ operates to cover over the ethical dimensions of what is at the bottom of the problem, namely, risky decision making. Risky decision making takes place whenever and wherever decisions are taken by those whose lives are not immediately threatened by the situation in which the (...) risk to other people’s lives is created by their decision. The concept of risk management implies that risk is already there, not created by the decision, but lies already inherent in the situation that the decision sets into motion. The risk that exists in the objective situation simply needs to be “managed”. By changing the semantics of ‘risk management’ to ‘risk taking’ or ‘risky decision making’, the ethics of responsibility for risking other people’s lives will come into focus. The argument of the chapter is that by heightening the ethical sensitivity of decision makers, these decision makers will be less likely to make decisions that will cause harm and/or death to those who are the principal actors in the situation created by the decision. (shrink)

This very short paper highlights some of my recent and forthcoming work on “good epistemic practices” in the financial services industry. It identifies some epistemic dimensions of risk management in banking and illustrates how managing for good epistemic practices might be helpful.

The current economic crisis caused by the COVID-19 pandemic has created new changes and challenges for society, which has led to a deeper identification of pressing problems and to develop strategies and models for overcoming crises in various countries, industries and businesses. The formation and improvement of modern strategies and models of crisis management is impossible without optimizing the resources of economic entities, providing assistance at various levels of government to support priority sectors of the economy, finding additional sources (...) of funding to combat the COVID-19 pandemic. To ensure the effective develop and implementation of modern strategies and models of crisis management it is necessary to have information about the state of economic entities, relevant commodity, raw materials, financial markets, explore the internal and external environment, determine the impact of risks on current activities business entities or industries. The effectiveness of crisis management strategies and models is determined by the ability of the management system to ensure the support of business activity of economic entities in the relevant market and to stimulate effective consumer demand. The purpose of writing this scientific monograph is to substantiate the theoretical and methodological foundations and to form and improve strategies and models of crisis management taking into account new changes and challenges for society related to the COVID-19 pandemic and declining business activity of economic entities. The object of the author’s research was the process of formation and improvement of crisis management strategies and models in the conditions of market imbalance and change of the external environment, reduction of activity volumes of economic entities, growth of budget expenditures to combat the COVID-19, formation of new forms of activities and penetration of information technology into various spheres of life to optimize the negative consequences of a pandemic. The subject of the study were socio-economic, organizational and institutional processes of formation and effective implementation of strategies and models of crisis management in various areas of economic activity; substantiation of mechanisms for ensuring the competitiveness of economic entities and the formation new forms of entrepreneurship; development of modern information technologies; consideration of best practices in business process management and digitalization using world experience in various sectors of the economy caused by the COVID-19. (shrink)

Despite small and medium enterprises (SMEs) being numerically predominant and the most vulnerable role players in the economy of many countries, little research has been conducted on risk management and sustainability of SMEs operating in the Fast Moving Consumer Goods (FMCG) sector of South Africa. This study fills this knowledge gap by investigating the extent to which risk management processes of SMEs operating in the FMCG sector of South Africa incorporate a robust analysis of sustainability factors. (...) We achieve this by distributing questionnaires to a sample of 320 FMCG SMEs in the Cape Metropolitan area. Qualitative data were gathered by interviewing two risk experts to validate the quantitative data gathered through a survey questionnaire. The results show that the risk management processes of FMCG SMEs do not incorporate a robust analysis of the components of sustainability, negatively affecting their survival. Apart from filling the knowledge gap, the study has also significant implications for FMCG SME owner-managers and policymakers while revealing future research avenues. (shrink)

Uncertainty, insufficient information or information of poor quality, limited cognitive capacity and time, along with value conflicts and ethical considerations, are all aspects thatmake risk managementand riskcommunication difficult. This paper provides a review of different risk concepts and describes how these influence risk management, communication and planning in relation to forest ecosystem services. Based on the review and results of empirical studies, we suggest that personal assessment of risk is decisive in the management of (...) forest ecosystem services. The results are used together with a reviewof different principles of the distribution of risk to propose an approach to risk communication that is effective aswell as ethically sound. Knowledge of heuristics and mutual information on both beliefs and desires are important in the proposed risk communication approach. Such knowledge provides an opportunity for relevant information exchange, so that gaps in personal knowledge maps can be filled in and effective risk communication can be promoted. (shrink)

The foundations of research ethics are riven with fault lines emanating from a fear that if research is too closely connected to weighty social purposes an imperative to advance the common good through research will justify abrogating the rights and welfare of study participants. The result is an impoverished conception of the nature of research, an incomplete focus on actors who bear important moral responsibilities, and a system of ethics and oversight highly attuned to the dangers of research but largely (...) silent about threats of ineffective, inefficient, and inequitable medical practices and health systems. -/- In For the Common Good: Philosophical Foundations of Research Ethics, Alex John London defends a conception of the common good that grounds a moral imperative with two requirements. The first is to promote research that generates the information necessary to enable key social institutions to effectively, efficiently, and equitably safeguard the basic interests of individuals. The second is to ensure that research is organized as a voluntary scheme of social cooperation that respects its various contributors' moral claims to be treated as free and equal. Connecting research to the goals of a just social order grounds a framework for assessing and managing research risk that reconciles these requirements and justifies key oversight practices in non-paternalistic terms. Reconceiving research ethics as resolving coordination problems and providing credible assurance that these requirements are being met expands the issues and actors that fall within the purview of the field and provides the foundation for a more unified and coherent approach to domestic and international research. -/- This is an open access title available under the terms of a CC BY-NC-ND 4.0 license. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. (shrink)

The American justice system, from police departments to the courts, is increasingly turning to information technology for help identifying potential offenders, determining where, geographically, to allocate enforcement resources, assessing flight risk and the potential for recidivism amongst arrestees, and making other judgments about when, where, and how to manage crime. In particular, there is a focus on machine learning and other data analytics tools, which promise to accurately predict where crime will occur and who will perpetrate it. Activists and (...) academics have begun to raise critical questions about the use of these tools in policing contexts. In this chapter, I review the emerging critical literature on predictive policing and contribute to it by raising ethical questions about the use of predictive analytics tools to identify potential offenders. Drawing from work on the ethics of profiling, I argue that the much-lauded move from reactive to preemptive policing can mean wrongfully generalizing about individuals, making harmful assumptions about them, instrumentalizing them, and failing to respect them as full ethical persons. I suggest that these problems stem both from the nature of predictive policing tools and from the sociotechnical contexts in which they are implemented... (shrink)

Abstract: Artificial Intelligence (AI) has rapidly evolved, offering transformative capabilities for business decision-making. This paper explores how AI can be leveraged to enhance strategic decision-making in business contexts. It examines the integration of AI-driven analytics, predictive modeling, and automation to improve decision accuracy and operational efficiency. By analyzing current applications and case studies, the paper highlights the opportunities AI presents, including enhanced data insights, risk management, and personalized customer experiences. Additionally, it addresses the challenges businesses face in adopting (...) AI, such as data privacy concerns, integration issues, and the need for skilled personnel. The paper concludes with recommendations for effectively implementing AI solutions to maximize their benefits while navigating potential pitfalls. (shrink)

An increasing number of financial services (FS) companies are adopting solutions driven by artificial intelligence (AI) to gain operational efficiencies, derive strategic insights, and improve customer engagement. However, the rate of adoption has been low, in part due to the apprehension around its complexity and self-learning capability, which makes auditability a challenge in a highly regulated industry. There is limited literature on how FS companies can implement the governance and controls specific to AI-driven solutions. AI auditing cannot be performed in (...) a vacuum; the risks are not confined to the algorithm itself, but rather permeates the entire organization. Using the risk of unfairness as an example, this paper will introduce the overarching governance strategy and control framework to address the practical challenges in mitigating risks AI introduces. With regulatory implications and industry use cases, this framework will enable leaders to innovate with confidence. (shrink)

This chapter looks closely at the use of resilience as a value in pandemic discourses, and particularly at how it reflects the moral complexity of the situation the pandemic presents: an extended crisis where shocks and stressors interact and have an uncertain end. We review key aspects of how resilience has been conceptualised, generally speaking, focusing on its normative implications. Insofar as resilience is suggested as a goal, or used to evaluate individuals, groups and systems, the rhetorical use of resilience (...) in the pandemic has moral implications that we unpack. Asking questions such as resilience to what, of what, and for whom, drives our analysis of the multiple scales at which morally relevant factors must be considered, in terms of distance and certainty, and across space and over time. Further, we highlight the importance of particularly challenging, intersecting scales both within and beyond the pandemic, such as the interaction between other- and self-regarding concerns and the tension between transformation and conservation, as we consider when to take up opportunities for improving ourselves, our society and our systems, in times of extended crises and radical change. Given that a ‘return to normal’ is neither universally desirable nor likely, we recommend in this chapter ways to address resilience as a value that can shape approaches to policy and behaviour while also being explicit about the normative—evaluative and also prescriptive—implications of its use. (shrink)

As the world’s population grows and urbanization continues, the global waste crisis is becoming more severe, especially in developing countries. Without proper waste management, they may encounter various environmental and health risks. Biological technologies are regarded as promising waste management and recycling approaches in developing countries due to their cost-effectiveness and capability to handle diverse waste categories. One prominent technology in this aspect is the vermicomposting of organic waste utilizing the black soldier fly larvae. Nevertheless, significant financial resources (...) are still necessary to advance and expand biological waste treatment, which requires the participation of businesses. By examining waste management companies listed on the Vietnamese stock market, we highlight two challenges that hinder the adoption and scaling of the waste treatment system using black soldier flies and potentially other biological technologies in Vietnam. Specifically, the business regards the environmental services they offer primarily as a means to generate profit rather than as a genuine commitment to environmental preservation, and the values of companies operating in the environmental sector, particularly in waste management, have been significantly undervalued by the Vietnamese investing public. Therefore, we advocate for societal shifts toward the eco-surplus culture and apply the semiconducting principle of monetary and environmental values exchange to address the problem. (shrink)

Objective of the study: To analyze the costs and profits of sugarcane production regarding the cultural practices of sugarcane suppliers. Methodology/approach: This study positions itself in this gap by comparatively analyzing 6 types of cultural practices: unraveling, windrowing, application of correctives, herbicides, insecticides and fertilizers, with the option of two systems Fixed rate (TF) and Variable rate (TV). Originality/Relevance: Brazil is a world reference in sugarcane production, with the State of São Paulo being the largest Brazilian producer. However, for sugarcane (...) suppliers to maintain this activity there is a need to reduce production costs and increase profitability/ha. However, there is a theoretical-practical gap in the financial assessment (costs and profits) of different cultural practices inherent to sugarcane production. Main results: The results demonstrated that the costs of cultural practices represent more than 30% of the total sugarcane production costs. The TF system proved to be more cost-efficient in the following operations: correctives, herbicides and insecticides. In the application of fertilizers, the TV system, in broadcast mode, had the best result. Finally, the profit/ton was R$1.70, demonstrating a very low profit margin/ha given the risk of the activity. Theoretical/methodological contributions: The sample for this research comprised 55 sugarcane suppliers from the State of São Paulo, whose data were obtained through a survey. The comparative analysis was based on the difference in costs of cultural practices and the estimation of the level of certainty (profit/costs), analyzed through the cumulative frequency carried out through the Monte Carlo Simulation (SMC). (shrink)

This paper aims to identify computerized management information systems resources and their relationship to the development of performance in the Electricity Distribution Company in Gaza. This research used two dimensions. The first dimension is computerized management information systems and the second dimension the Development of Performance. The control sample was (063). (360) questioners were distributed and (306) were retrieved back with a percentage of (85%). Several statistical tools were used for data analysis and hypotheses testing, including reliability correlation (...) using Cronbach’s alpha, “ANOVA”, Simple Linear Regression and Step Wise Regression. The overall findings of the current study suggested the presence of a statistically significant relationship between resources (physical, software, and human and organizational) for the computerized management information systems and the development of performance in the Electricity Distribution Company in Gaza. The study recommended the following: The need to strengthen the company's management interest in the potential of computerized management information systems and using them in the computerization of all the company's activities. And the need to involve workers and users in the design of computerized management information systems and assessment and development process. And strengthen the relationship between users and information systems personnel in the department responsible for the system. And it is essential that the company is developing the infrastructure for information technology in general, and computerized management information systems, in particular for the development of performance. And increase interest in providing resources (physical, software, and human and organizational) for the computerized management information systems. The current study is unique by the virtue of its nature, scope and way of implied investigation, as it is the first study at Electricity Distribution Company in Gaza resources explores the status of Computerized management information systems and their relationship to the development of performance in the Electricity Distribution Company in Gaza increasing interest in Computerized management information systems through continuity, keeping pace with technological means and modern techniques. (shrink)

Social machines are systems formed by technical and human elements interacting in a structured manner. The use of digital platforms as mediators allows large numbers of human participants to join such mechanisms, creating systems where interconnected digital and human components operate as a single machine capable of highly sophisticated behaviour. Under certain conditions, such systems can be described as autonomous and goal-driven agents. Many examples of modern Artificial Intelligence (AI) can be regarded as instances of this class of mechanisms. We (...) argue that this type of autonomous social machines has provided a new paradigm for the design of intelligent systems marking a new phase in the field of AI. The consequences of this observation range from methodological, philosophical to ethical. On the one side, it emphasises the role of Human-Computer Interaction in the design of intelligent systems, while on the other side it draws attention to both the risks for a human being and those for a society relying on mechanisms that are not necessarily controllable. The difficulty by companies in regulating the spread of misinformation, as well as those by authorities to protect task-workers managed by a software infrastructure, could be just some of the effects of this technological paradigm. (shrink)

The increasing complexity and scale of modern computing needs have led to the development and adoption of cloud computing as a ubiquitous paradigm for data storage and processing. The hybrid cloud model, which combines both public and private cloud infrastructures, has been particularly appealing to organizations that require both the scalability offered by public clouds and the security features of private clouds. Various strategies for configuring and managing resources have been developed to optimize the hybrid cloud environment. These strategies aim (...) to balance conflicting objectives such as cost-efficiency, performance optimization, security, and compliance with regulatory standards. This exploratory research focused on evaluating the efficiency and limitations of different configuration strategies in hybrid cloud environments. Findings indicate that each approach presents distinct advantages. Improving resource utilization and automating governance processes are significant advantages of Policy-based Resource Management, which leads to costeffectiveness. Intelligent routing of traffic is a feature of Cross-cloud Load Balancing, resulting in optimized performance and higher service availability. By centralizing control, the Hybrid Cloud Service Mesh allows for secure and streamlined cross-service communication. A notable feature of Cross-cloud Container Orchestration is its ability to simplify the migration of applications across diverse cloud environments. For immediate threat detection and regulatory compliance, real-time monitoring is facilitated by Log Management and Analytics. However, Policy-based Resource Management can be complex and inflexible. Extra costs for data transfer between different cloud providers are a drawback of Crosscloud Load Balancing. Additional network hops create latency issues in Hybrid Cloud Service Mesh configurations. If configured incorrectly, Cross-cloud Container Orchestration could expose the system to security risks. Finally, Log Management and Analytics require both ample storage and advanced analytical capabilities. (shrink)

Risk communication has been generally categorized as a warning act, which is performed in order to prevent or minimize risk. On the other side, risk analysis has also underscored the role played by information in reducing uncertainty about risk. In both approaches the safety aspects related to the protection of the right to health are on focus. However, it seems that there are cases where a risk cannot possibly be avoided or uncertainty reduced, this is (...) for instance valid for the declaration of side effects associated with pharmaceutical products or when a decision about drug approval or retirement must be delivered on the available evidence. In these cases, risk communication seems to accomplish other tasks than preventing risk or reducing uncertainty. The present paper analyzes the legal instruments which have been developed in order to control and manage the risks related to drugs – such as the notion of “development risk” or “residual risk” – and relates them to different kinds of uncertainty. These are conceptualized as epistemic, ecological, metric, ethical, and stochastic, depending on their nature. By referring to this taxonomy, different functions of pharmaceutical risk communication are identified and connected with the legal tools of uncertainty management. The purpose is to distinguish the different functions of risk communication and make explicit their different legal nature and implications. (shrink)

ABSTRACT A new ‘political philosophy’ is indispensable to the ‘post-Corona world,’ and this paper tries to analyze the future of ‘liberal democracy’ in it. It shows that ‘liberal democracy’ faces a ‘global crisis’ that has begun before, but the ‘novel Coronavirus pandemic,’ as a setback for it, strongly encourages that crisis. ‘Liberalism’ and ‘democracy,’ which had long been assumed by ‘political philosophers’ to go together, are now becoming decoupled, and the ‘liberal values’ of ‘democracy’ are eroding. To find why and (...) how, this paper analyzes ‘authoritarianism,’ ‘totalitarianism,’ and the evils and propensities of ‘democracy’ that bring about further erosions of ‘liberal values.’ There may be difficult trade-offs to be made between ‘liberal’ and ‘authoritarian’ ‘values’ - and, after the experience of ‘Coronavirus,’ this paper shows the ‘illiberal or authoritarian democracy’ may become stronger. -/- KEYWORDS: democracy, liberalism, liberal democracy, illiberal democracy, the novel Coronavirus pandemic, Covid-19, authoritarianism, totalitarianism. -/- EXTENDED ABSTRACT For almost a century in West, ‘democracy’ has meant ‘liberal democracy’-a political system marked not only by ‘free and fair elections,’ but also by ‘liberal values.’ ‘Liberalism’ applied to the problem of the limits of the criminal law would require commitment to the presumption in favor of ‘liberty.’ If the word ‘liberal’ is to have any utility in this context, it should refer to one who has so powerful a commitment to ‘liberty’ that she is motivated to limit the number of acknowledged liberty-limiting or coercion-legitimizing principles as narrowly as possible. So, she only believes in ‘harm-principle’ as the morally relevant reason for criminal prohibitions. ‘Offense principle’ and ‘paternalistic’ and ‘moralistic’ considerations, when introduced as support for penal legislation, have no weight at all. So, it means ‘autonomy’ and ‘self-regarding vs. other-regarding actions distinction’ based on which the human is the owner of her mind and body and everything consenting adults do is beyond the realm of morality and law. It leads to ‘individual’ ‘basic rights and liberties’ such as ‘basic rights and liberties’ of ‘speech,’ ‘religion,’ and ‘property’ and ‘collective’ ‘basic rights and liberties’ such as ‘basic rights and liberties of assembly,’ ‘civil society,’ ‘political pluralism,’ ‘democratic institutions,’ and ‘non-governmental organizations.’ ‘Liberalism’ also believes in ‘equality of conditions, ‘equal and free participatory rights in political decision making,’ and ‘collective self-governance.’ It also believes in the ‘rule of law,’ a ‘separation of powers,’ and ‘checks and balances.’ However, even under fair and free elections, the elected leaders can be ‘populists,’ ‘ultra-nationalists,’ ‘racists,’ ‘fascists,’ and ‘authoritarians’ who do not respect ‘inviolable basic rights and liberties,’ and suppress ‘minorities.’ Democratically elected leaders can routinely ignore constitutional limits on their power and deprive their citizens of ‘basic rights and liberties.’ The two strands of ‘liberal democracy’ have been coming apart in the world, and the ‘liberal’ elements of ‘democracy’ have been fraying and eroding even before the ‘novel Coronavirus pandemic.’ Even before the Coronavirus hit, there was already much discussion of a crisis of ‘liberal democracy.’ In particular, there has been a debate about whether ‘liberalism’ and ‘democracy,’ which had long been assumed to go together, were becoming decoupled. This paper shows ‘liberal democracy’ faces a ‘global crisis’ that had begun before the ‘novel Coronavirus pandemic.’ It also analyzes ‘authoritarianism,’ ‘totalitarianism,’ ‘liberalism,’ and ‘democracy’ and shows that Covid-19 is a setback for ‘liberal democracy.’ What is striking about the current moment is that many of the ‘liberal’ elements of ‘democracy’ are so far holding up under immense pressure. ‘Illiberal democracies’ seemed to be emerging in many countries. This model of ‘illiberal democracy,’ in which elections continue to be held but some individual rights and liberties are curtailed, may emerge stronger from this new crisis. In that sense, the ‘pandemic’ may become a challenge not only to ‘democracy’ as such but also to ‘liberal democracy’ in particular – in other words, a system of popular sovereignty together with guaranteed basic rights, such as freedom of association and expression and checks and balances on executive power. ‘Authoritarian’ procedures may succeed in mitigating the spread of the ‘Coronavirus,’ but the world now faces another problem: that when the virus recedes, many ‘liberal democracies’ will be far less ‘liberal’ or ‘democratic’ than they were before. In times of crisis, ‘liberal values’ have been ignored temporarily in the name of executive power. However, the ‘temporary’ can become ‘permanent.’ In addition, if citizens lose their faith in the legitimacy of ‘liberal democracy’ as the best form of government, and think ‘liberal democracy’ cannot function effectively during a crisis, and ‘authoritarian regimes’ manage the crisis more decisively, the world will slide towards ‘illiberal or authoritarian democracy,’ and many ‘liberal democracies’ will be at grave risk of failure. There may now be difficult trade-offs to be made between those basic rights and security - and, after the experience of Covid-19, many citizens may choose security. (shrink)

Australia is a leading AI nation with strong allies and partnerships. Australia has prioritised the development of robotics, AI, and autonomous systems to develop sovereign capability for the military. Australia commits to Article 36 reviews of all new means and method of warfare to ensure weapons and weapons systems are operated within acceptable systems of control. Additionally, Australia has undergone significant reviews of the risks of AI to human rights and within intelligence organisations and has committed to producing ethics guidelines (...) and frameworks in Security and Defence. Australia is committed to OECD’s values-based principles for the responsible stewardship of trustworthy AI as well as adopting a set of National AI ethics principles. While Australia has not adopted an AI governance framework specifically for Defence; Defence Science has published ‘A Method for Ethical AI in Defence’ (MEAID) technical report which includes a framework and pragmatic tools for managing ethical and legal risks for military applications of AI. (shrink)

The novel coronavirus (COVID-19) has imperatively shaken the behavior of the global financial markets. This study estimated the impact of COVID-19 on the behavior of the financial markets of Europe and the US. The results revealed that the returns of the S&P 500 index have been greatly affected by a lockdown in the US owing to COVID-19. However, the health crisis generated due to the novel coronavirus significantly decreased the stock returns of the Nasdaq Composite index. The results also showed (...) that the economic crisis generated from the pandemic in Spain has had more impact on the IBEX 35 as compared to the health crisis itself. On the other hand, in the long-run, Italy’s stock markets are more affected by the health crisis as contrasted with the economic crisis, while, in the short-run, both lockdown conditions and economic instability lower the stock returns of FTSE MIB. The UK stock markets witnessed that in the short-run, deficiency of health management systems imperatively damaged the stock returns of the London Stock Exchange. The investigation revealed that deficiency of health systems and lockdown conditions have imperatively damaged the structure of financial markets, inferring that sustainable development of these nations is at risk due to COVID-19. The study suggested that governments should allocate more of their budget to the health sector to overcome a health crisis in the future. (shrink)