Artificial intelligence is poised to make a significant impact on the global economy, adding $15.7 trillion to the GDP by 2030. In pursuit of these economic benefits, many countries have developed national strategies to promote the adoption of AI within their borders, such as China’s ambitious plan to become the global leader in AI. But what can state and local governments -- especially those outside of the country’s main tech hubs -- do to ensure they are not left behind in the AI economy?
This year, expect the space economy to really take off. According to Space Angels, an investment firm specializing in aerospace, private investment in space-related businesses has jumped from a handful of companies and a couple hundred million dollars in 2009 to 375 companies and $15 billion today.
It's been nearly a decade since the end of the Great Recession, and unemployment in the U.S. has reached historic lows, giving workers the upper hand in the job market. "Maybe we're finally getting to that point where demand for labor and supply of labor have met," says Andy Challenger, vice president of Challenger, Gray & Christmas, an executive outplacement firm. "Wages hopefully will begin to rise at a quicker pace."
The United States lost one-third of its manufacturing jobs--5.8 million positions--between 2000 and 2010. Although the economy has strengthened significantly since then, only about 12% of these jobs have returned. Their disappearance has resulted in painful social disruption: manufacturing had been a critical route to the middle class for those with high school educations or less.
This conversation, playing out in the ordinarily-mundane context of public comments on a Commerce Department advance notice of proposed rulemaking, carries significant implications not only for U.S.-China relations but for the broader future of U.S. national security and America’s economic competitiveness.
Prepare your calculators. The Internal Revenue Service has updated its tax brackets for 2019. This year marks the first under the new Tax Cuts and Jobs Act, an overhaul of the tax code that resulted in lower individual income tax rates, a doubled standard deduction and the elimination of personal exemptions. For the new year, the IRS has bumped up the individual income tax brackets, adjusting them for inflation.
While Virginia and D.C. officials tout Amazon’s arrival as an economic boon to greater Washington, an influx of expensive labor could pose steep costs for the area’s most vulnerable residents. From housing prices to political pressure, here are five ways Amazon’s new headquarters could affect the D.C. area...
China will lower import tariffs and continue to broaden market access, President Xi Jinping said on Monday at the opening of a week-long trade expo seen as an attempt by Beijing to counter mounting criticism of its trade and business practices. Xi also promised to accelerate opening of the education, telecommunications and cultural sectors, while protecting foreign companies' interests and enhancing punitive enforcement for infractions of intellectual property rights.
With Europe passing the General Data Protection Regulation (GDPR) -- a significant piece of data protection legislation with global implications -- and now California implementing a new privacy law, coupled with several high-profile incidents involving companies exposing consumer data, there is a growing push for federal data privacy legislation in the United States.
The buzz is building for Amazon’s highly-touted HQ2, the company’s ambitious plan to build a secondary headquarters that could rival — or possibly surpass — its massive operation in Seattle. The stage is set, with 20 finalists now in the running for a new headquarters that could employ as many as 50,000 workers.