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Construction’s productivity puzzle:
Cheap labour and the high fixed costs of technology are slowing growth
Since the financial crisis, productivity growth has slowed across the rich world. But one industry in particular has been lagging for a much longer period: construction. Over the past twenty years, the value added per hour worked in the sector globally has risen at a quarter of the rate of manufacturing. According to a recent report by McKinsey, a consultancy, if productivity growth in the sector had matched that in manufacturing over the past 20 years, the world would be $1.6trn—2% of GDP—richer each year.
Tumbling levels of productivity is easier to explain in less wealthy countries. In Saudi Arabia, for example, it is cheaper to import low-paid workers from India or Pakistan than to buy machinery. Other less developed countries where corruption is a big issue, such as Brazil and Mexico, also do badly. But some do very well. Over the past two decades, China has seen its labour productivity in the construction sector grow by almost 7% a year. But most of that is simply catch-up growth because of a change from extremely labour-intensive traditional methods to the modern sort used in the West since the 1960s.
Scientists from China achieved quantum computational advantage!
A research team, including renowned Chinese quantum physicist Pan Jianwei, announced Friday a significant computing breakthrough, achieving a quantum computational advantage. Pan is a professor of physics at the University of Science and Technology of China, focusing on quantum information and quantum foundations. As one of the pioneers in experimental quantum information science, he has accomplished a series of profound achievements, which has brought him worldwide fame. Due to his numerous progresses on quantum communication and multi-photon entanglement manipulation, quantum information science has become one of the most rapidly developing fields of physical science in China in recent years.
Click HERE to read full article in our news page by Xinhua News Agency, based on article published recently in Science Magazine.
Machine Learning, Deep Learning, Artificial Intelligence:
As MDT international Sp.z.o.o., we are all are working on daily basis with AI software or creating algorithms in business or academy to improve our research and opportunities to reach targets, develop existing structures and improve processing data, to get as many data objects under our interest as possible to improve possibility of reaching optimal level of positive results at final stages.
By clicking on the animation you will go to news page where you can find a link to interesting article from the creators of most sophisticated currently chess gaming algorithm, called AlphaZero, created by Google subsidiary Deep Mind .
Enable Remote Workers
Is your organization ready to securely support a wide range of remote workers in the wake of a global pandemic? Given the uncertainty a widespread health crisis can bring, infectious disease specialists at the CDC and elsewhere have advised organizations to prepare for the possibility of social distancing and extended period quarantines as part of their business continuity and disaster recovery planning.
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