Stryker (SYK) to Report Q2 Earnings: What’s in the Cards? – Yahoo Finance

Stryker Corporation SYK is scheduled to release second-quarter 2020 results on Jul 30, after the closing bell. In the last reported quarter, the company delivered earnings surprise of 8.9%. Further, it beat estimates in each of the trailing four quarters, the average surprise being 3.2%.

The Zacks Consensus Estimate for second-quarter earnings per share is pegged at 62 cents, indicating a decline of 68.7% from the year-ago quarter.

The same for revenues stands at $2.63 billion, suggesting a fall of 28.1% from the prior-year quarter.

Strykers MedSurg segment comprises surgical instruments plus endoscopic and emergency medical equipment. It has three subsegments Endoscopy, Instruments and Medical. Unlike first-quarter 2020, which had witnessed partial impact of the COVID-19 pandemic, the second quarter bore the brunt of it. This resulted in the deferral of elective and non-critical procedures.

Consequently, impact of the pandemic is likely to have weighed on the aforementioned subsegments, which in turn might get reflected on MedSurg units second-quarter performance. In fact, the Zacks Consensus Estimate for the segments second-quarter revenues stands at $1.36 billion, suggesting a decline of 15.8% from the year-ago reported figure.

Stryker Corporation price-eps-surprise | Stryker Corporation Quote

Weak performing Knee and Hips sub segment is likely to have weighed on the companys Orthopaedic segment in the second quarter. In fact, the consensus mark for the segments second-quarter revenues stands at $703 million, indicating a plunge of 44.8% prior-year quarter.

With respect to Neurotechnology & Spine segment, weak performance by the NeuroTech and Interventional Spine businesses might have impacted the companys second-quarter performance. For the upcoming quarterly announcement, the Zacks Consensus Estimate for the segments sales stands at $564 million, suggesting a decline of 25.8% from the year-ago quarter.

Nonetheless, sustained strong demand for Mako TKA (Total Knee Arthoplasty) platform or cementless knee and other 3D printed products is anticipated to get reflected in the segments second-quarter performance.

During fourth-quarter 2019, the company acquired Mobius Imaging a leader in point-of-care imaging technology and its sister company Cardan Robotics in an all-cash transaction for $370 million upfront and up to $130 million of contingent payments related to development and commercial milestones. This transaction is likely to have aided Stryker Spine foray into the intra-operative Imaging segment apart from aligning with the companys implant and navigation offering. We expect this development to have positively impacted the companys second-quarter performance.

However, unfavorable pricing may have affected Strykers second-quarter performance. Moreover, high debt might have put pressure on the margins.

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Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. This is not the case here as you will see.

Earnings ESP: Stryker has an Earnings ESP of -12.58%. You can uncover the best stocks to buy or sell before theyre reported with our Earnings ESP Filter.

Zacks Rank: Stryker carries a Zacks Rank #3.

Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.

Integra LifeSciences Holdings Corporation IART has an Earnings ESP of +20.69% and a Zacks Rank of 2. You can see the complete list of todays Zacks #1 Rank stocks here.

Exact Sciences Corporation EXAS has an Earnings ESP of +6.69% and a Zacks Rank of 2.

Hologic, Inc. HOLX has an Earnings ESP of +14.56% and a Zacks Rank of 3.

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Stryker (SYK) to Report Q2 Earnings: What's in the Cards? - Yahoo Finance

Life Lived On Screen: Philosophical, Poetic, and Political Observations – lareviewofbooks

AUGUST 2, 2020

I.

THERE IS THE idea of a physical human to human encounter.

As a being together.

The image is one of a shared experience of time a time constituted by the act of committing to one another, to an encounter.

Of inhabiting, together, a space where bodies meet, where talking and laughing and crying is a haptic experience. Where one breathes the same air, smells the same smells.

An experience the body can remember sensorially long after.

Reaching out and touching. Shared surfaces. Breathing, talking, anything really.[1]

Can this kind of encounter happen through machines or machine interfaces? Zoom, Facebook, Google, Twitter, LinkedIn, Skype, Microsoft Teams, and many more.

Can it happen with a machine?

Traditionally, the answer to both questions is no.

No, it cannot really happen by way of a machine interface because too much is lost.

And no, one cannot have a true encounter with machines.

II.

In times of COVID-19, we spend more of our life online in networks than ever before.

What is the effect of this life lived on screen on what it is to be human?

We have more Zoom meetings, surf longer on Instagram, spend more time on Facebook and Twitter than ever before.

What is the transformation of the human brought about by life lived on screens and how to bring this transformation into focus?

As a site of philosophical change and as an opportunity for philosophers, artists, and technologists to come together and give shape?

What are the philosophical and poetic and political stakes and opportunities of this, of our moment in time?

III.

The migration of human activity to technological platforms began long before COVID-19.

The reference, here, is particularly to the emergence in the early 2000s of interactive, often user-generated content, and the emergence of network companies.

The classic examples here are companies like Google (Google mastered microtargeting), Facebook, Twitter, Amazon, Google, Microsoft (Skype and Team), and now also Zoom.

This matters for two reasons.

The first is that the material infrastructural conditions of possibility for how we now spend much of our time has been laid long before the present: satellites, high-speed fiber-optic cables between cities and underneath the ocean, file sharing systems in massive computer farms that host servers, AI algorithms that work through enormous amounts of data quickly to find patterns and calculate preferences, etc.

The second reason is that the material infrastructure that makes life lived on screen possible is inseparably related to platform capitalism. Platform capitalism consists (mostly but not exclusively) of companies that make money by offering free services such as search or posting images or messaging but that collect and harvest user data in order to either sell it to other platform companies or, more often, to sell it to advertising companies (who then devise microtargeting strategies, that is, they deliver ads to specific audiences).

In order to generate data, these companies have been busy finding ways long before COVID-19 to migrate human activity online.

Or, perhaps more accurately: They have been busy creating new forms of human activity suited to life online surfing, search, texting, sexting, browsing, FaceTiming, YouTubing, binge watching, etc.

AR and VR especially via Facebook and Oculus may soon be an additional element of life on screen.

And COVID-19?

Well, for most platform companies, the spread of SARS-CoV-2 and the shelter-at-home orders have been a massive boost: screen time has increased dramatically and so has their capacity to generate and mine data.

That is, COVID-19 has been a consolidation and even an expansion event for platform capitalism.

The contrast to older forms of capitalism, especially to industrial manufacturing, couldnt be sharper.

The question thus emerges whether or not we are currently seeing a powerful acceleration of a shift from earlier forms of capitalism toward a new, still-nascent form called platform capitalism.

A shift from a mode of production focused on the industrial production of goods by labor to another one that is about users, data, and AI?

What are the philosophical, poetic, and political dimension of this shift?

IV.

In my observation, platform companies have made dominant a form of relationality networks that runs diagonal to the usual, place-based socialities of the nation (usually framed in terms of belonging and non-belonging, inclusion and exclusion of a people imagined in territorial and ethnic or racial terms).

In fact, I think it is no exaggeration to argue that networks have given rise to a new structure and experience of reality that is radically different from and even incommensurable with the structure and experience of reality that defined societies.

I offer a simple juxtaposition to illustrate my point.

Societies, usually, have three main features.

First, they are organized hierarchically. That is, they typically have a few powerful individuals at the top, while the vast majority of individuals assemble at the bottom.

Second, they are organized vertically, by which I mean that they accommodate an often vast diversity of opinions and points of views.

Third, societies are usually held together by a national sentiment and, most importantly, by a national communication or media system. The form this media system almost always takes is mass communication, where the few communicate to the many. What they communicate is information information people may vehemently disagree about, but the baseline of this disagreement is that people agree about the things that they disagree about. Mass communication assures that people have a shared sense of reality.

Networks defy all three of those features.

First, if societies are hierarchical and vertical, then networks are flat and horizontal: networks tend to be self-assemblies of people with similar views and inclinations.

Second, while societies are contained by national territories, networks tend to be global and cut across national boundaries: another way of saying this is that while societies are place-specific units, networks are non-place-specific units.

And third, if in society the few communicate with the many and what they communicate is information, then in networks the many communicate directly unfiltered with the many, and what they communicate is not information but affective (emotional) intensity.

It strikes me as uncontroversial that today more and more humans live in networks and that networks, ultimately, defy the logic of society.

Indeed, the rise of networks has created a situation in which, counter to what the moderns thought, society and the social are not timeless ontological categories that define the human.

On the contrary, they are recent and transitory concepts that have no universal validity for all of humanity or all of human history.

Of course, societas is an ancient concept. However, up until the late 18th century, a societas was a legal and not a national or territorial concept; it referred to those who held legal rights vis--vis the monarch.

Things only changed in the years predating the French Revolution when the argument emerged that the people and not the aristocrats and the grand bourgeoisie who held legal rights vis--vis the king should be the society constitutive of the political entity called France.

The early nation-states, which emerged in the context of the first Industrial Revolution and at a time when several cholera epidemics ravaged Europe, found themselves confronted with the need to know their societies, to know how many people lived on their territory, how many were born, how many died, how many got sick and of what; they had to know how many married and how many divorced.

As political existence and the biological vitality of the national society were understood to be connected, states began to conduct massive surveys to understand how they could reform and advance their societies.

Over time between the 1830s and the 1890s this gave rise to what one could call the logic of the social: the idea that the truth about humans is that they are born in societies and that society will shape them and even determine them. The truth about humans is that they are social, in the sense of societal being: tell me in which segment you were born, and I tell you who you are likely to marry, how many kids you we will have, what your job will be, what you are likely to die of.

The social was discovered as the true ontological ground of the human.

To this day, most normative theories of the human call them anthropology: from Marx via the Frankfurt School to Pierre Bourdieu are based on the idea that society is the true ontological ground of the human.

All our modern political institutions are based on society.

If it is true that networks defy the logic of society, then the social sciences, simply because they take the social for granted as the true logic of the human, will fail to bring the human into view.

What we need, then, is a shift from social anthropology (an anthropology that grounds in the concept of the social) to a network anthropology: a multifaceted study of how networks give rise to humans.

V.

The difference between networks and societies which appears to map onto the difference between platform and industrial capitalism is related to the changing relation between humans and machines brought about by recent advances in AI, specifically in machine learning.

One can say that machine learning technologies are beginning to liberate machines from the narrow industrial concept of what a machine is and that this liberation may have far-reaching consequences for what it means to have an encounter.

Traditionally, there were unbridgeable differences between human and machines.

Partly, because humans have intelligence reason while machines are reducible to mechanism.

Partly because machines have no life, no quality of their own. They are reducible to the engineers who invented them and hence mere tools.

The implication, often, is that there is no will, no interference, no freedom, no opening.

But machine learning and neurotechnology make us reconsider these boundaries between organisms and machines, between humans and mechanisms.

First, the success of artificial neural nets or the basic continuity between neural and mechanical processes suggests that the distinction between the natural and the artificial may perhaps matter much less than we thought.

Second, the emergence of deep learning architectures has led to machines with a mind of their own: they have an agency that is not reducible to the intent of or the program written by the engineer.

The exemplary reference here is a 2016 game of Go, played by a deep learning system named AlphaGo (built by DeepMind, a London-based, Google-owned AI company) against Lee Sedol, an 18-time world champion. Toward the end of Game Two in a Best of Five series, AlphaGo opted for a move move 37 that was highly unusual.

DeepMind later announced that AlphaGo had calculated the odds that an expert human player would have made the same move at 1 in 10,000.

It played the move anyway: as if it judged that a nonhuman move would be better in this case.

Fan Hui, the three-time European Go champion, remarked: Its not a human move. So beautiful. So beautiful.

Wired wrote shortly after the game was over: Move 37 showed that AlphaGo wasnt just regurgitating years of programming or cranking through a brute-force predictive algorithm. It was the moment AlphaGo proved it[s] [] ability to play a beautiful game not just like a person but in a way no person could.[2]

Traditionally, a program that doesnt conform to the intentionality of the engineer was considered faulty. However, contemporary machine learning systems are built to defy to exceed the mind of the engineer: it is expected that the machine brings something to a game, a conversation, a question that the engineers did not and could not possibly provide it with (something nonhuman).

These developments one could call them the liberation of machines from the human or at least from the concept of the machine that up until recently defined the human imagination of what a machine could be are related to the rise of networks.

They are related insofar as in networks, relationality once a human to human prerogative may no longer be limited to human to human encounters anymore.

What effects will the liberation of machines which is constitutive of networks as much as of machines have on what it is to be human?

Or on what it is to be in relation?

VI.

As I see it, what is needed now are philosophical investigations of the new technology that is being built.

Not studies in terms of society, as this would ultimately imply holding on to the old concept of the human as social being.

Nor studies in terms of the human, if that means the defense of the human against the machine.

But rather, collaborative studies conducted jointly by philosophers and artists in collaboration with technologists of how networks and machine learning are challenging old and enabling new, yet to be explored concepts of living together.

All by itself, COVID-19 has little to do with these most far-reaching philosophical transformations brought about by networks and by machine learning.

And yet, COVID-19 brings this transformation into view with sharper clarity than ever before and has led to circumstances due to which this new and different world might come faster than we anticipated.

What will it mean to be together with a machine?

To address this question, we may need a whole new vocabulary of encounters and relations.

[1] From Lauren Lee McCarthy, Later Date, 2020, https://vimeo.com/416588466/bb8762077d.

[2] Cade Metz, What the AI Behind AlphaGo Can Teach Us About Being Human, Wired, May 19, 2016, https://www.wired.com/2016/05/google-alpha-go-ai.

Image Credit: Stills from Lauren Lee McCarthy,Later Date, 2020

Tobias Rees isthe founding Director of the Berggruen Institutes Transformations of the Human Program. He also serves as Reid Hoffman Professor of Humanities at the New School for Social Research and is a Fellow of the Canadian Institute for Advanced Research.

Excerpt from:

Life Lived On Screen: Philosophical, Poetic, and Political Observations - lareviewofbooks

Edited Transcript of SYK.N earnings conference call or presentation 30-Jul-20 8:30pm GMT – Yahoo Finance

Q2 2020 Stryker Corp Earnings Call

KALAMAZOO Jul 31, 2020 (Thomson StreetEvents) -- Edited Transcript of Stryker Corp earnings conference call or presentation Thursday, July 30, 2020 at 8:30:00pm GMT

TEXT version of Transcript

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Corporate Participants

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* Glenn S. Boehnlein

Stryker Corporation - VP & CFO

* Kevin A. Lobo

Stryker Corporation - Chairman & CEO

* Preston Wells

Stryker Corporation - VP of IR

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Conference Call Participants

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* David Ryan Lewis

Morgan Stanley, Research Division - MD

* Frederick Allen Wise

Stifel, Nicolaus & Company, Incorporated, Research Division - MD & Senior Equity Research Analyst

* Joanne Karen Wuensch

Citigroup Inc., Research Division - MD

* Joshua Thomas Jennings

Cowen and Company, LLC, Research Division - MD & Senior Research Analyst

* Kaila Paige Krum

SunTrust Robinson Humphrey, Inc., Research Division - Research Analyst

* Kristen Marie Stewart

Barclays Bank PLC, Research Division - Research Analyst

* Kyle William Rose

Canaccord Genuity Corp., Research Division - Senior Analyst

* Lawrence H. Biegelsen

Wells Fargo Securities, LLC, Research Division - Senior Medical Device Equity Research Analyst

* Matthew Stephan Miksic

Crdit Suisse AG, Research Division - Senior Research Analyst

* Patrick J. Bartoski

Piper Sandler & Co., Research Division - Research Analyst

* Richard S. Newitter

SVB Leerink LLC, Research Division - MD of Medical Supplies & Devices and Senior Research Analyst

* Robert Adam Hopkins

BofA Merrill Lynch, Research Division - MD of Equity Research

* Robert Justin Marcus

JPMorgan Chase & Co, Research Division - Analyst

* Ryan Benjamin Zimmerman

BTIG, LLC, Research Division - MD & Medical Technology Analyst

Story continues

* Vijay Muniyappa Kumar

Evercore ISI Institutional Equities, Research Division - MD

* Xuyang Li

UBS Investment Bank, Research Division - Equity Research Analyst of Medical Supplies & Devices

================================================================================

Presentation

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Operator [1]

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Welcome to the Second Quarter 2020 Stryker Earnings Call. My name is Michelle, and I will be your operator for today's call. (Operator Instructions) This conference call is being recorded for replay purposes.

Before we begin, I would like to remind you that the discussions during this conference call will include forward-looking statements. Factors that could cause actual results to differ materially are discussed in the company's most recent filings with the SEC.

Also, the discussions will include certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures can be found in today's press release that is an exhibit to Stryker's current report on Form 8-K filed today with the SEC.

I will now turn the call over to Mr. Kevin Lobo, Chairman and Chief Executive Officer. You may proceed, sir.

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Kevin A. Lobo, Stryker Corporation - Chairman & CEO [2]

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Welcome to Stryker's second quarter earnings call. Joining me today are Glenn Boehnlein, Stryker's CFO; and Preston Wells, Vice President of Investor Relations. For today's call, I'll provide opening comments, followed by Preston with some perspectives on the recovery trends across our diverse businesses. Glenn will then provide additional details regarding our quarterly results before opening the call to Q&A.

As we begin today's call, I would like to start by thanking all our employees for their continued commitment to ensuring the safety of their colleagues, their families and our customers. I am very pleased with the resiliency of our organization, which has maintained high employee engagement and customer connections through the pandemic: from our sales forces, who have remained present and essential to the doctors and caregivers they support; to our manufacturing teams that have worked around the clock to optimize supply with ever-changing demand; and across our workforce, most of whom continue to collaborate virtually. The Stryker spirit remains alive and well.

Our second quarter sales declined organically by 24%, reflecting the impacts of COVID-19 across all geographies and the majority of our product lines. The results reflect progressive improvement in overall sales through the quarter but do vary by region. The sequential improvement can be tied to the initial cancellation and subsequent gradual return of elective procedures during the quarter.

As mentioned in our first quarter call, we took aggressive steps early on to ensure the safety of our employees and customers while managing discretionary spending across our P&L in response to the slowdown in sales. Our cost containment measures included significant reductions in travel and meetings, a slowdown in hiring and salary reductions across senior leaders. In addition, we made other efforts to focus on cash conservation, including the idling of select product lines and facilities across our network starting in May. These actions, combined with our sales performance resulted in adjusted earnings per share of $0.64, a decline of nearly 68% versus the prior year.

As we look at the quarter, the low point in sales occurred in April and then improved sequentially through the end of June. As a reminder, implants and disposables represent about 75% of our sales and small capital represents 16%. Small capital generally mirrors the performance and trends of implants and disposable. The largest improvements within the quarter were in hips, knees, spine, trauma, sports medicine and Neurotechnology, reflecting the resumption of elective procedures and the gradual opening of previously locked down communities and geographies.

With respect to our large capital businesses, medical capital and Mako were standouts, both posting strong growth for the quarter. Our Mako robotic technology remains in high demand with our customers despite any financial constraints resulting from the pandemic. By geography, Japan and Canada performed well, while Europe, China and Australia showed progressive improvement through the quarter. In contrast, Latin America and India continued to be weaker as the impacts of COVID-19 remain more widespread in those regions. In Q3, we expect the recovery to continue, but do not expect it to be linear while local governments deal with varying degrees of resurgences.

Our R&D programs continue to proceed despite logistical challenges caused by the pandemic, and we spent at a healthy rate in the quarter. We are actively engaging with our customers while ensuring that our product supply is in a strong position to capitalize as procedures resume. However, given the fluid nature of the situation, we are not providing Q3 or full year guidance. We are proceeding with the integration efforts regarding the right medical transaction. We are working cooperatively with the regulators to obtain the necessary approvals for the transaction, including, as previously announced, proposing to divest our STAR total ankle replacement product. This process is well underway, and the U.K. Competition and Markets Authority recently announced that it will consider our proposed undertakings in lieu of a Phase II investigation. We continue to expect to close the transaction around the end of Q3 or beginning of Q4.

Please note, beyond this update, we will not be taking any questions regarding Wright Medical or the pending transaction on today's call. This has been the most unique situation that most of us have ever experienced. While we have been impacted financially as a result of the government shutdowns and deferrals of elective procedures, this time has also allowed us opportunities to reevaluate and develop new ways to work and collaborate across our diverse group of businesses. We are prepared to emerge from the pandemic as stronger, more efficient company. I remain confident in our people, our culture and our ability to partner with our customers to meet the needs of the many patients they serve.

And now over to Preston.

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Preston Wells, Stryker Corporation - VP of IR [3]

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Thanks, Kevin. My comments today will focus on providing additional insight into the current environment and how certain countries and products performed during the quarter.

We saw progressive improvement in sales throughout the quarter, with April being the low point. The improving trends were primarily driven by the resumption of elective procedures. That momentum is continuing into Q3 as July is trending better than June. We estimate that approximately 40% to 50% of our total global revenue includes procedures that are considered elective or more accurately can be, in many cases, deferred for a period of time. This primarily includes hips and knees, extremities, spine, sports medicine and our ENT business. Geographically, elective procedure recovery varied depending on the government actions and severity of the pandemic.

In addition to the U.S., countries like China, Australia and Germany have also shown month-to-month improvements as elective procedures returned during the quarter, reaching approximately 85% to 90% of pre-COVID levels. The U.K., India and Latin America lagged during the quarter, at less than 50% of pre-COVID levels, as the pandemic continues to spread in these countries.

During the quarter, we saw strong demand for our large capital products, specifically beds and stretchers within our Medical division and ongoing high demand for our Mako robotic technology. In the second quarter, we were very pleased with the Mako installations in the U.S., including increased sales to ASCs and competitive accounts. We continue to see a growing percentage of both hip and knee replacement surgeries being performed with the Mako robot. As it relates to knees, there is an ongoing shift towards cementless. We also launched a new software upgrade for the Mako Hip program that includes features which improve the overall ease of use. Our leadership in orthopedic robotics, a strong order book, and a solid innovation pipeline positions us well to see continued above-market growth in joint replacement.

While we have made meaningful reductions in many discretionary spend items, our investment in R&D remains robust, as does our healthy cadence of new product introductions. During the first half of the year, we are pleased with the customer feedback and results from several new products, some of which include Spine's (inaudible) system, Mini Frag cleaning in Trauma and Neurovascular Vecta 71 and 74 intermediate catheters. These and other launches will contribute to our performance for the rest of the year and position us well for the future.

Although the COVID-19 pandemic has led to a slowdown in elective procedures, it has also placed increased emphasis on the safety of health care providers and their patients. Over the years, we have built an extensive portfolio within our MedSurg businesses, addressing many of the challenges our customers face, with a focus on accident and infection prevention and caregiver safety. This includes products like our patient hygiene and disinfecting products, personal protective equipment, waste management and smoke evacuation devices along with the LUCAS chest compression system which delivers high-quality automated CPR, while reducing the proximity of the caregiver to the patient.

With the ongoing threat of COVID-19 infections, the Department of Defense identified automated compression devices, such as the LUCAS device, as the best practice for delivery of CPR. Demand for these products grew during the quarter in response to these increased safety concerns. We will continue to leverage our diverse portfolio to address changing trends and meet the expectations of our customers, caregivers and patients.

With that, I will now turn the call over to Glenn.

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Glenn S. Boehnlein, Stryker Corporation - VP & CFO [4]

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Thanks, Preston. Today, I will focus my comments on our second quarter financial results, related drivers and liquidity matters. Our detailed financial results have been provided in today's press release.

Our organic sales decline was 24% in the quarter. These results included a decline in the U.S. of 24 -- 27.4% and an international decline of 14.5%. As a reminder, this quarter included the same number of selling days as compared to Q2 2019. Pricing in the quarter was unfavorable 0.2% from the prior year quarter, and foreign currency had an unfavorable 0.8% impact on sales. During the quarter, our growth was significantly negatively impacted by reductions in elective surgeries, the effects of shelter-in-place orders across many geographies and the pause in hospital capital spending as the medical community navigates this pandemic.

Throughout the quarter, we saw progressive improvement in the expansion of elective surgeries across many geographies which resulted in significant variability in our sales. On an overall basis, our sales decline ranged from minus 36% in April to minus 10% in June.

Our adjusted quarterly EPS of $0.64 represents a decline of 67.7% from Q2 2019. The foreign currency impact on second quarter EPS was minimal. Certain other factors resulted in disproportionately negative impacts on EPS, including the loss of higher-margin sales and a loss of leverage related to manufacturing and operational fixed costs. These were partially offset by our strong focus on disciplined cost control within the quarter.

I will now provide some brief comments on segment sales. Orthopaedics had constant currency and organic sales decline of 29.3%. This included a U.S. decline of 28.8%. We saw declines across our hip, knee and trauma businesses. We also saw very strong growth in our Mako business somewhat offset by declines in bone cement. Internationally, Orthopaedics had an organic decline of 30.4%, which reflects the downturn in elective procedures across most geographies.

MedSurg had constant currency decline of 16.4% and an organic sales decline of 17%, which included a 22.2% decline in the U.S.

Instruments had U.S. organic sales decline of 38%, driven by power tools, waste management and SurgiCount. This was partially offset by increases in Instruments' PPE products, namely our Flyte helmet and other protective products. As a reminder, Instruments also had a very high comparable in Q2 2019 with 19% growth.

Endoscopy had U.S. organic sales decline of 34.1%. This reflects a slowdown in its video, general surgery, communications and sports medicine businesses.

The Medical division had U.S. organic growth of 5.4%, reflecting strong demand across its bed and emergency care businesses, resulting from demand tied to COVID-19, which was offset by declines in Sage related to less patient flow.

Internationally, MedSurg had organic sales growth of 4.6%, reflecting strong demand for medical products in Australia, Canada, Europe and emerging markets.

Neurotechnology and Spine had a constant currency decline of 28.9% and an organic decline of 29.9%. Our U.S. Neurotech business posted a constant currency decline of 36.4% and a 37.5% organic decline for the quarter. This reflects a slowdown in procedures in the quarter related to all our Neurotech businesses. The decline was most pronounced in our ENT, neurosurgical and CMF businesses.

Internationally, neurotechnology and spine had an organic decline of 13%, reflecting slowdowns in Europe, Canada and emerging markets, which was offset by a solid performance in our neurovascular business.

Now I will discuss operating metrics in the quarter. Our adjusted gross margin of 57.3% was unfavorable 850 basis points from the prior year quarter. Compared to the prior year, gross margin was unfavorably impacted by fixed cost absorption and business mix. The fixed cost absorption was significant and related to certain costs associated with idle manufacturing that normally would be capitalized into inventory.

During Q2, we operated at 60% of normal capacity and the related unabsorbed costs diluted our margin by approximately 400 basis points. We anticipate Q3 will be at an average capacity of approximately 85%. Unabsorbed costs will continue to impact our margin until our manufacturing is operating at normal levels. Adjusted R&D spending was 7.6% of sales.

Our adjusted SG&A was 37.1% of sales, which was 360 basis points unfavorable to the prior year quarter. Compared to the prior year, SG&A was unfavorably impacted by business mix and deleveraging of selling and marketing costs, partially offset by operating expense savings actions taken during the quarter.

In summary, for the quarter, our adjusted operating margin was 12.5% of sales. The measures we enacted in March, covering most of our discretionary spending, including curtailments in hiring, travel, meetings and consulting as well as the idling of certain manufacturing lines and facilities, including furloughing the related workers continued throughout the second quarter.

Related to other income and expense as compared to prior year quarter, we saw a decline in investment income earned on deposits and interest expense increases related to increases in our debt outstanding. Our second quarter had an adjusted effective tax rate of 14.4%.

Originally posted here:

Edited Transcript of SYK.N earnings conference call or presentation 30-Jul-20 8:30pm GMT - Yahoo Finance

Trump-loving Texas Rep. Louie Gohmert blames wearing a face mask for his positive COVID-19 test – Salon

Rep. Louie Gohmert, R-Tex., who has publicly scorned face masks and not regularly worn one at work for months, tested positiveWednesday for COVID-19.

The GOP congressman got theresultsat a White House screening ahead of his scheduledflight to Texas that morning with President Donald Trump, CNNreported.

Gohmert attended Attorney General William Barr's testimony before the House Judiciary Committeein person one day earlier. Video footageshows the two men, both maskless, only footsteps apart.

Barr will also get tested for the disease,Department of Justice spokespersonKerr Kupec said Wednesday.

One of Gohmert's own aides asked Politico in an email to include "the fact that Gohmert requires full staff to be in the office, including three interns, so that 'we could be an example to America on how to open up safely.'"

"When probing the office," the aide's email continued, "you might want to ask how often were people berated for notwearing masks."

Gohmert returned to his office after testing positive so that he could break the news to his staff in person, reportedly catching some aides as they were departing.

The eight-term Republican has repeatedly expressed his disdain for facial coverings. He took a break from praising Trump at a White House roundtable in May to preemptively knock reporters in the room, saying the only reason the group would wear a mask was "to protect ourselves from you."

"We had tests, and nobody in here has the coronavirus unless it's somebody in the media," Gohmert said at the time. "So the only reason we would wear masks is if we were trying to protect ourselves from you, in the media, and we're not scared of you."

The Texas lawmaker claimed toCNN in June that he was not wearing a mask on the House floorbecause he wasfrequently tested.

"[I]f I get it," Gohmerttold CNN in June, "you'll never see me without a mask."

CNN reporter Manu Raju on Wednesdayreported thathe had "never seen him wearing a mask on the House floor as he's carried on" with colleagues.

Speaker of the House Nancy Pelosi, D-Calif.,authorizedthe House Sergeant at Arms last month to ban any member who refuses to wear a mask at committee hearingsdays after Rep. Tom Rice, R-S.C., tested positive for COVID-19.

A senior House aide said at the time, "Ultimately, chairs will have the option of not recognizing members in committee proceedings that fail to comply with the mask requirement."

"I'm so sorry for [Gohmert]," Pelositold reporters Wednesday. "But I'm also sorry for my memberswho are concerned, because he has been showing up at meetings without a mask and making a thing of it."

The House speaker told colleagues in a Wednesday call that she would be unveiling a mandatory mask policy for the chamber floor.

Gohmertdid not don a mask ina video statement confirming the reports, which he recorded in his office. He claimed that he wasasymptomatic and would be "very, very careful not to give it to anybody else."

"Reports of my demise are a great deal premature," he said. "I took a quick test, but they get false positives sometimes, so they retested me with the swab that goes way up in your sinuses. It came back positive, too."

"Apparently, I have the Wuhan virus," he said. (The termfor COVID-19, used among some Republicans, has been decried as racist.)

Gohmert added that he had consulted with Sen. Rand Paul, R-Ky., who tested positive for the disease in March. Gohmert said that Paul, the son of physician and former Sen. Ron Paul, assured him that "within 10 days or so, I should be fairly well immune."

The Texan also pushedback against unnamed critics on Twitter.

"I've worn a mask in the last week or two a whole lot more than I have in the last four months," Gohmert asserted.

The congressman also congratulated himself for evading a"fussing" fromJudiciary Chairman JerryNadler, D-N.Y., by wearinga mask during Barr's hearing. However, he omitted his interaction with Barr.

Gohmert also suggested that his mask was to blame for his positive diagnosis.

"I don't know about everybody else, but when I have a mask on, I'm movingit to make it comfortable. And I can't help but wonder if that, you know, puts some germs in the mask," he said. "Keep your hands off the mask."

The blame game was more clearly articulatedduring an interview with local Fox News affiliateKETK-TV.

"I can't help but think that if I hadn't been wearing a mask so much in the last 10 days or soI really wonder if I would've gotten it," Gohmert said."But I know moving the mask around, getting it just right, I'm bound to put some virus on the mask that I sucked in. That's most likely what happened."

But such a suggestion contradicts science. The CDC recommends face coverings as a way to slow the spread of COVID-19.

"Cloth face coverings are most likely to reduce the spread of COVID-19 when they are widely used by people in public settings," the agency says on its website. "The spread of COVID-19 can be reduced when cloth face coverings are used along with otherpreventive measures, includingsocial distancing, frequent handwashing and cleaning and disinfecting frequently touched surfaces."

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Trump-loving Texas Rep. Louie Gohmert blames wearing a face mask for his positive COVID-19 test - Salon

Families of those killed by police want autopsies made available. – Los Angeles Times

It is a roster of tragedy and violence, a list populated with those famous in life and those plucked from obscurity by the exceptional circumstances of their death.

Elizabeth Short, known as the Black Dahlia, is an enduring member of the list. Nicole Brown Simpson and Ron Goldman are still there, as is Susan Berman, the writer whom Robert Durst is charged with killing at her Benedict Canyon bungalow. The Notorious B.I.G. was on the list for about 15 years after being killed in a drive-by shooting.

The vast majority are more recent entries, including Andres Guardado, the 18-year-old fatally shot in June by a Los Angeles County sheriffs deputy in Gardena.

These are people whose deaths have been under a so-called security hold by the Los Angeles County medical examiner-coroners office, a status that prevents public disclosure of their autopsies, often for months, years or, in some cases, indefinitely.

At any given time, more than 100 cases are under a security hold. This sealing was considered a routine procedural function, imposed almost always at the request of police or prosecutors, to provide a shroud of secrecy during the investigation of complex, high-profile, mysterious or unusual deaths. Usually, the hold is lifted only when the requesting police or prosecuting agency gives the green light.

But in recent years, the practice has been thrust into the spotlight when on-duty police officers have killed members of the public cases in which anger and skepticism have fueled calls for accountability and transparency, and in which the security hold has only compounded flaring distrust.

The hold has set the coroners office at the center of an impassioned debate that came to a head with the death of Guardado, who was working as a security guard at an auto body shop June 18, when he was approached by officers and ran, his family said. Deputies said Guardado produced a firearm during the chase. His killing spurred days of protests and demands for justice and answers.

After Guardados family publicly shared the results of an independent autopsy, L.A. County Chief Medical Examiner-Coroner Dr. Jonathan Lucas unilaterally bucked the hold installed by the Sheriffs Department and released the full coroners report, confirming that the 18-year-old was shot five times in the back.

Family and friends rally for justice in the case of Andres Guardado, who was fatally shot by a sheriffs deputy in Gardena.

(Jason Armond / Los Angeles Times)

I believe that government can do its part by being more timely and more transparent in sharing information that the public demands and has a right to see, Lucas said in a statement.

Sheriff Alex Villanueva was furious and swiftly rebuked the disclosure, saying it jeopardized the ongoing investigation as well as any future criminal or administrative proceedings, even tainting potential witnesses.

Authorities maintain that security holds are essential for preserving the integrity of cases, and for the families of many homicide victims, the practice has been largely without controversy. The families often form close bonds with detectives or district attorneys and have a greater degree of trust as authorities try to prosecute a killing.

But for the relatives of those killed by police, the security hold is one in a series of ways in which they are treated differently, blocked from officially knowing the details of their loved ones final moments.

Family members speculated it was a way of harassing them, making their loss more difficult because they couldnt have a determination into how their loved one was killed, said Lael Rubin, a retired L.A. County prosecutor who serves on the civilian commission overseeing the Sheriffs Department. She noted cases in which security holds have been in place for two years or longer.

The official word was, We request a security hold for further investigation, but it does seem suspicious, Rubin said. If you havent completed your investigation in two years, what are you doing?

Under state law, coroners reports are public record. The packet is often three reports in one: toxicology tests, an autopsy and an investigative summary. The documents can be incredibly detailed, with a medical history, a listing of prescription drugs the person took and the doctors who issued the pharmaceuticals, descriptions of the persons anatomy and the manner in which they perished.

Photos or videos from a death scene are not released, but a report can include a diagram of a body, along with descriptions of tattoos and piercings.

A hold means the death does not show up in the coroners online database, and staff at the office have limited access to case information, Sarah Ardalani, spokesperson for the Department of Medical Examiner-Coroner, said.

The security hold has become a standard feature in the aftermath of a celebritys death, including singer Whitney Houston, actress and writer Carrie Fisher, actor Paul Walker and the wife of actor Robert Blake. In these cases, the hold prevents salacious tidbits from reaching tabloids and is usually lifted in three to six months, when the full report is complete.

Its main role is to ensure that the facts of the case are held until the investigation can be thoroughly vetted, said Dr. Mark Fajardo, the chief forensic pathologist of Riverside County and former coroner of L.A. County.

Of the 8,000 or so deaths reviewed each year by the L.A. County coroners office, a small fraction are kept secret.

It buys a little time, said Craig Harvey, the longtime chief of investigations for the county coroner, who retired in 2015. Harvey said detectives and prosecutors may consider confidentiality as essential to identifying a suspect who had information that only the killer could know.

For example, LAPD Det. Meghan Aguilar said in a statement, the autopsy report may detail whether the victim was sexually assaulted and whether evidence of this was recovered information that detectives and prosecutors would want to keep a lid on while pursuing a suspect. The autopsy may also reveal if there was a struggle before a person died and what type of injuries on the body would reflect this, Aguilar said.

Why the Simpson and Goldman autopsies remain under a hold is unclear. The LAPD said the 1994 killings are still considered unsolved, warranting the hold, but Judge Lance Ito, who presided over the criminal trial of O.J. Simpson, also appears to have effectively sealed the autopsies. The coroners office confirmed that the autopsies were put on a security hold via court order.

Autopsy reports on Nicole Brown Simpson and Ron Goldman, who were found dead June 12, 1994, in Los Angeles, remain sealed under a court order.

(Associated Press)

It is my recollection this was agreed to by both the prosecution and defense, Ito told The Times via email. Ito, who has retired, declined to explain why he sealed the autopsies, but he noted that photos of the autopsy were displayed and details of the victims cause of death were aired in open court by medical experts.

Security holds might also prevent inflammatory information from reaching the public without proper context; for example, a description of gunshot wounds in a persons back, Harvey said.

Because of the trauma that a bullet does to the body, it doesnt necessarily mean the police shot someone in the back, he said. People may get worked up over something. But it may be explained, and it can make sense, and it can be presented to the grand jury or district attorney.

For more than a year, the family of Paul Rea, 18, waited anxiously to learn more about how he was shot and killed by an L.A. County sheriffs deputy during a routine traffic stop in East L.A.

Prosecutors concluded in May that the deputy acted lawfully, then closed their investigation. Reas family learned this from a Times journalist. Until late last month, the autopsy remained under a security hold.

Grainy security footage that captured part of the June 27, 2019, encounter appears to show Rea breaking from the deputy before he was shot four times. Deputy Hector Saavedra said he felt a gun in Reas waistband, but Rea never pulled it out, according to a report by the district attorneys office.

I want the whole thing. I want to read everything, said Julie Diaz-Martinez, Reas grandmother. As a family member, the autopsy is important, because you wonder, was he still breathing when they took him into the hospital? You wonder, how lethal was the first shot? How long did he suffer? Could it really have been prevented?

A yearlong wait for a security hold to lift is common when people are killed by police, but the hold can stretch on for two years or longer.

Theyre looking for answers about how their loved ones died, and the coroners autopsy often is one of the few repositories of objective information about that, and its hidden from them, said Sean Kennedy, a member of the Sheriff Civilian Oversight Commission. He proposed that the coroner lift holds and make the documents public after a reasonable period of time, perhaps 60 days.

Walter Katz, a former public defender who served as the police watchdog for San Jose and deputy inspector general for the L.A. County Sheriffs Department, said the delays go to the very heart of how those killed by law enforcement are viewed.

They are not treated like victims of a crime. The whole mindset is: Whoever is shot by the police is the suspect, and the law enforcement officer who used force is the victim, Katz said. Thats how the homicide books created by agencies characterize it.

Not every case in which an on-duty police officer fatally shoots a civilian receives a security hold, according to local law enforcement agencies.

LAPD Capt. Gisselle Espinoza said in a statement that security holds are based upon the confidential, legal and the sensitive nature of a case. She cited other factors, including protection of evidence and proper review by the district attorneys office.

If autopsy results are released during an active investigation, it can taint follow-up interviews from victims, witnesses or bystanders, said Jennifer De Prez, a spokeswoman for Long Beach Police Department.

The LAPD has kept a security hold on the autopsy of Melyda Corado for more than two years. Corado was working on July 21, 2018, at the Trader Joes in Silver Lake when Gene Atkins rolled up, hostage in tow, after leading two officers on a lengthy car chase. Atkins stopped the car; ran toward the store, which was crowded with shoppers; and shot at officers. Police returned fire, and one of the bullets struck Corado, killing her.

Mely Corado was not someone engaged with police. She was not a suspect in a crime, said John Taylor, the attorney representing the Corado family in their wrongful-death lawsuit against the city and the LAPD. So to have a security hold on her case has been baffling and confusing.

If theres something thats on the body as evidence that would be known only to the perpetrator of the crime, I can understand, Taylor added.

The L.A. Police Commission has ruled that the officer who fired the shot that killed Corado acted in accordance with LAPD policy. Atkins has been charged under the provocative act murder doctrine for allegedly setting off the events that led to Corados death.

The security hold has remained. Albert Corado, a community organizer who now lives in his late sisters apartment in Atwater Village, said he felt the secrecy was part of a campaign to block information.

Last year, the Corado familys lawyers subpoenaed L.A. County for her autopsy; the coroners office denied their request and referred her family to an LAPD detective, according to court records. The family then successfully persuaded an L.A. County Superior Court judge to order the autopsys release. The city did not oppose the move in court but did not lift the security hold, either.

Albert Corado said he reviewed the report, and it confirmed what he already knew his sister died from a gunshot wound making its secrecy a source of anger and motivation.

The harder they make it to give out information in the run-up to trial is to make you want to give up, he said.

The LAPD told The Times last week that it had directed the investigating officer in the Corado case to remove the security hold. In a statement, the department said the report should be made available to the public this month.

Times staff writers Maloy Moore and Nicole Santa Cruz contributed to this report.

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Families of those killed by police want autopsies made available. - Los Angeles Times

Isaias expected to bring big surf to area beaches – WPRI.com

MIDDLETOWN, R.I. (WPRI) Isaias is still days away from the Ocean State, but local surfers are enjoying the waves before the storm.

Today there were good waves out and got a few good rides in and its going to get better throughout the week, Bret Werner said.

Its getting better Ive heard, so I came down with my friend Bobby and were enjoying the day, Johnny Rodriguez said.

Isaias is expected to pass by Rhode Islands coast late Tuesday night. The storm is bringing heavy rain and wind, creating possible perfect conditions for surfers.

If its safe we will be out here, Werner said.

Possibly yeah, I make take a break tomorrow, but Ill see how Tuesdays going to be, Bob Luongo said.

Bob Luongo has been surfing for fifteen years. The Fall River resident says he checks the wave size and rip currents before going in the water during a storm, but says he has surfed during a hurricane.

I surfed during Hurricane Maria. The storm was out to sea, it wasnt right here, but the waves were really big. Usually theres a lot of people, but the waves were so big there wasnt as many people that day. It was so exciting. It was beautiful, like Heaven on Earth, Luongo said.

The surfers told Eyewitness News, theyre looking forward to the sizable waves.

When a storms out here you get waves like you do in California or Hawaii and like that so everybody does comes out for the waves. Its fun for the ones who know what they are doing, Rodriguez said.

As Isaias continues north, waves along are coast will become much bigger.

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Isaias expected to bring big surf to area beaches - WPRI.com

North Beach Neighbors Band Together to Boost Restaurants’ Business With Volunteer Deliveries – CBS San Francisco

SAN FRANCISCO (KPIX) Restaurants have been hit hard during the pandemic but one neighborhood in San Francisco is banding together to help and theyre setting an example for the entire Bay Area.

In San Francisco, it is the Italian food that brings people to North Beach. So when the pandemic shut down all the restaurants, residents in the neighborhood saw what a loss it was.

You cant overstate how important they are, said Danny Sauter, president of the North Beach Neighborhood community group. I mean, they give the neighborhood character. We see when one of them leaves, how much of a gap, how much of a hole it leaves in the community.

As restaurants struggled with only curbside sales, private online delivery services were charging them 30 to 40 percent on every order.

Thirty-forty percent eats up everything they got, said North Beach resident Eric Dew. For every pizza pie that they deliver, the restaurant loses money at the end of the day. Thats not acceptable.

So four guys from the neighborhood: Sauter, Dew, Teddy Kramer and Sri Artham got together and formed a group called North Beach Delivers. Each Thursday night since the shelter-in-place began, about 10 volunteers have been delivering meals from a selected restaurant to an area within walking or biking distance. The first restaurant to try it was Piazza Pelegrini on Columbus Avenue.

At first, you know, it felt like a gift from the skies. We definitely needed that, said the restaurants owner, Dario Hadjian.

But then word of the program began to grow and so did the orders.

It really took a few weeks to grow and build up, said Sauter, Now were to the point where, every time we partner with a restaurant, it turns out to be their most successful evening of sales since the pandemic started.

One restaurant, Mister Jius, made $5,000 on one night thanks to North Beach Delivers and some customers have made a regular thing of ordering dinner each Thursday from the latest restaurant of the week featured on the groups website. In the five months since the stay-at-home began, North Beach Delivers has helped generate more than $50,000 in sales for area restaurants.

And now its gotten to the point where weve got a wait list for two months, with restaurants that want to participate, because the impact that we are making is real both financially but also emotionally, said co-founder Teddy Kramer.

North Beach Delivers has inspired some restaurants to set up their own delivery systems and the volunteers say theres no reason the model couldnt be used to help any neighborhood in any city. It just takes people willing to stop feeling bad for restaurants and start doing something to help them.

Were doing everything we can to save every single restaurant in this neighborhood, said Kramer. Our ultimate goal is to build a system that will allow them to live forever.

WEBLINK: North Beach Delivers

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North Beach Neighbors Band Together to Boost Restaurants' Business With Volunteer Deliveries - CBS San Francisco

Various groups hold beach cleanups across the Coastal Bend area in the aftermath of Hurricane Hanna – KIIITV.com

After Hurricane Hanna took a beating on our coastal environment, many members of the community have stepped up to help restore the area.

CORPUS CHRISTI, Texas Dozens of people showed up to Mustang Island State Park on Saturday morning for a beach cleanup organized by Texas Parks and Wildlife.

Volunteers began at 9 a.m on August 1 and met in the parking lot to receive their gloves and bags for the trash they would be picking up.

Officials say the event was aimed to reduce litter and trash debris from Hurricane Hanna and want to remind the public that the park is not open for recreational access at this time.

Meanwhile, a group of young men from the U.S. Coast Guard Sector Air Station- Corpus Christi worked extremely hard to clean up Doddridge Park in the aftermath of Hurricane Hanna.

Flour Bluff-Padre Island 4-H club also helped clean the Packery Channel on Saturday. According to Flour Bluff-Padre Island 4-H's reporter, Hailey, "Seventeen people come out and help participate in the Hurricane Hanna Packery Channel Park clean up. We were able to pick up quite a bit of trash. Everyone did a great job!"

A group of students from Texas A&M University-Corpus Christi rolled up their sleeves for two days of labor at the Corpus Christi Marina, moving debris caused by Hurricane Hanna.

TAMU-CC officials say the student team was managed by Tony Wood, Director of The National Spill Control School at Texas A&M-Corpus Christi, with approval from Marina Superintendent, Gina Sanchez.

Organizations such as Beach Keepers have also stepped up their efforts in their dedication to keeping area beaches and parks clean.

Beach Keepers also held a beach cleanup near Whitecap Beach on Saturday morning.

The director of Beach Keepers, Lana Rayn, made an early morning trip to Corpus Christi and cleaned up area beaches all day. According to the organization, Rayn lives three hours away from Corpus Christi but has made every beach cleanup.

Beach Keepers is hosting a beach cleanup on Saturday, August 8 from 7:30 a.m. to 10:30 a.m.

Hannas Helpers by Beach Keepers will meet on Mustang Island and volunteers will be formed into teams of 10 or less.

Organizers say Beach Keepers will provide water, bags, and gloves but volunteers must bring their own face mask, hand sanitizer, and other personal protective gear.

For more information on how you can get involved with Hannas Helpers by Beach Keepers, please visit their Facebook page.

Causes event in Corpus Christi, TX by Plastic Planet by Lee Allen and Beach Keepers Hub on Saturday, August 8 2020

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Various groups hold beach cleanups across the Coastal Bend area in the aftermath of Hurricane Hanna - KIIITV.com

Long Island Beaches Reopen This Weekend After Days Of Shark Sightings – CBS New York

Tri-State Braces For Tropical Storm IsaiasTri-State Area emergency management officials have been closely monitoring the storm for several days, and preparations are now underway for its arrival tomorrow. CBS2's John Dias reports.

New York Weather: Pleasant MondayCBS2's Vanessa Murdock has the latest weather forecast.

Negro League Stadium In Paterson, N.J. Getting New Lease On LifeThis year marks what would be the 100th anniversary of the creation of the Negro baseball leagues, and one bit of history is being restored in New Jersey. CBS2's Steve Overmyer reports

New York Weather: All Eyes On IsaiasCBS2's Vanessa Murdock has the latest on the approaching tropical storm. Here's your 11 p.m. forecast.

SpaceX Crew Dragon Safely Returns To EarthThe capsule splashed down softly in the Gulf of Mexico on Sunday, completing its historic journey to the International Space Station. CBS2's Mark Strassmann reports

NYC Shootings Surpass Total For All Of 2019The situation is getting so dire the Brooklyn borough president and district attorney are calling for more drastic measures to stop the gun violence. CBS2's Hazel Sanchez reports

Mother Of Man Killed In Freeport Boat Accident Speaks To CBS2Police are still investigating what led to two boats colliding, resulting in the death of 25-year-old Jorge Soto and injuries to six others. CBS2's Cory James reports

Tracking Isaias: CBS2 Has The LatestCBS2's Vanessa Murdock has what you need to know about Tropical Storm Isaias as it makes its way up the coast toward the Tri-State Area.

New York Weather: Thunderstorms Possible Into MondayCBS2's Vanessa Murdock is tracking some potentially inclement weather that could impact the Tri-State Area during the overnight hours. Here's your 9 p.m. forecast

N.Y. Continues To Make Good Progress In Battle Against CoronavirusThe state is reporting a new low for hospitalizations and no new deaths in New York City. CBS2's Jessica Moore reports

Will There Be More Coronavirus Relief Out Of Washington?New York Sen. Chuck Schumer is among those fighting for more aid for those out of work due to the pandemic. CBS2's Jessica Moore reports

25-Year-Old Man Killed In Freeport Boat CrashPolice in Nassau County are still investigating what led to the two-boat collision that also injured six other people. CBS2's Dave Carlin reports

Florida Has 1-2 Punch Of ProblemsAlready overrun by the coronavirus pandemic, Florida is also dealing with Tropical Storm Isaias. CBS2's Manuel Bojorquez reports

Tracking Isaias: Vanessa Murdock With The LatestThe tropical storm is expected to threaten the Tri-State Area starting Tuesday.

Police Looking For 5 Men Suspected In Armed Robbery, Home Invasion Against 72-Year-Old Bronx WomanPolice said five men knocked on a 72-year-old woman's door and pushed their way in when she answered.

3 Homeless Men Arrested For Fighting With Knife And Sticks At East Village Park, Police SayThree homeless men were arrested overnight after they were found fighting with a knife and sticks at a park in the East Village.

Nassau County Police Investigating Deadly Freeport Creek Boat Crash; 1 Dead, 6 InjuredSeven people were hospitalized following the huge rescue effort at Cow Meadow Park. A 25-year-old man later died from his injuries. CBS2's Christina Fan reports

New York Weather: CBS2's 8/2 Sunday Afternoon ForecastJohn Elliott is tracking Hurricane Isaias and has the updated forecast for the Tri-State area on CBS2 News This Morning.

New York Weather: CBS2 8/1 Nightly Forecast at 11PMCBS2's Vanessa Murdock has your weather forecast for August 1 at 11 p.m.

President Donald Trump Threatens To Ban TikTokThe social media app TikTok is a favorite for teens -- and a favorite target for President Donald Trump. The president has threatened to ban the platform, but the company says it's not going anywhere; CBS2's Nick Caloway reports.

Decision To Reopen NY Schools Will Be Made In Early August, Cuomo SaysGov. Andrew Cuomo says a decision on schools reopening in New York could be just days away.

7 People Injured When Boats Collide In Freeport, Long IslandSeven people were injured Saturday night after a boat collision in Nassau County that was so violent, one of the boats was split in two; CBS2's Cory James reports.

New York Weather: CBS2 8/1 Evening Forecast at 6PMCBS2's Vanessa Murdock has your weather forecast for August 1 at 6 p.m.

Salmonella Outbreak Linked To Red OnionsThere's a health alert over a salmonella outbreak involving red onions.

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Long Island Beaches Reopen This Weekend After Days Of Shark Sightings - CBS New York

Close encounter: mother and calf whales stun surfers at Sydney’s Manly beach – The Guardian

A whale calf, closely followed by its mother, came within metres of surfers and swimmers at Manly beach, in Sydneys north, on Sunday afternoon.

The pair were initially identified as humpbacks by onlookers, but marine wildlife experts later said they were most likely southern rights, which also migrate north to calve, then return to colder waters for the southern summer.

One boardrider, Josh, told Guardian Australia he had never seen a whale, particularly a calf, come so close to the beach at Manly.

There was a bit of pointing going on and I looked round and the little one was just there, Josh said.

Then mum came in pretty quick smart, I think when she realised how close people were.

You often see [whales] further out the back but this one just came right up to where people were hanging on their boards.

Images show dozens of surfers watching from about 10m from the whales.

Initially there was some concern that one of the whales had been caught in a shark net, but surfers said that was not the case.

I think everyone was just paddling up to get a good look. Its the sort of thing you wont forget seeing.

Last week researchers from the University of NSW found that while whale-watching season in Australia is often a tourism drawcard, many were not in optimum health during the return leg of the migration.

The researchers collected and analysed samples of whale blow similar to mucus from a human nose from humpbacks and found significantly less microbial diversity and richness on journey south.

Their paper, published in the journal Scientific Reports, said this indicated the whales were likely in poorer health than when their journey began.

People enjoy whale-watching season, but with it comes reports of whales becoming stranded, said the studys lead author, science researcher Catharina Vendl.

Although humpback whale stranding events occur naturally and regularly to injured and young whales, it is crucial to monitor the population health of this iconic species to ensure its long-term survival.

Humpback whales do not only play an essential role in their marine ecosystem but also represent an important economic resource because whale-watching is a booming industry in many Australian cities and around the world.

This article was amended on 3 August 2020 to correct the identification of the species. It originally said the whales were humpbacks, but marine wildlife experts contacted by Guardian Australia subsequently identified them as more likely to be southern right whales.

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Close encounter: mother and calf whales stun surfers at Sydney's Manly beach - The Guardian

Bitcoin Cash (BCH) Down $2.62 On 4 Hour Chart, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days – CFDTrading

Bitcoin Cash 4 Hour Price Update

Updated August 03, 2020 07:20 AM GMT (03:20 AM EST)

Bitcoin Cash came into the current 4 hour candle up 0.77% ($2.23) from the open of the previous 4 hours, marking the 2nd candle in a row it has gone up. On a relative basis, Bitcoin Cash was the worst performer out of all 5 of the assets in the Top Cryptos asset class during the previous 4 hours.

The end of a 3 day positive run has come for Bitcoin Cash, which finished yesterday down 11.33% ($36.25). As for how volume fared, yesterdays volume was up 51.14% from the previous day (Saturday), and up 219.48% from Sunday of the week before. On a relative basis, Bitcoin Cash was the worst performer out of all 5 of the assets in the Top Cryptos asset class during yesterday. Here is a daily price chart of Bitcoin Cash.

Coming into today the current price of Bitcoin Cash is sitting close to its 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Bitcoin Cashs price has gone up 6 of the previous 10 trading days.

For laughs, fights, or genuinely useful information, lets see what the most popular tweets pertaining to Bitcoin Cash for the past day were:

Few years ago, people were busy creating hard forks of Bitcoin and we have dozens of clones like Bitcoin Cash, Bitcoin SV, Bitcoin Gold, Bitcoin Private etc. In 2020, we have YFI and people have forked it into YFII, YFFI.

#Crypto Top 5 Vol vs. Circ Supply (24H) by Highest Volume$USDT Tether 39,955.29M of 11,065.83M (361.07%)$BTC Bitcoin 2.39M of 18.45M (12.96%)$ETH Ethereum 43.27M of 112.01M (38.63%)$XRP XRP 13,213.83M of 44,862.65M (29.45%)$BCH Bitcoin Cash 11.25M of 18.48M (60.90%)

Im so glad @jeffreyatucker was part of the Bitcoin Cash Fork Day broadcast. What a great talk by him!

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Bitcoin Cash (BCH) Down $2.62 On 4 Hour Chart, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 90 Days - CFDTrading

Not so Artificial Intelligence When is AI really AI? – EFTM

Is it just the LifeStyler or are others noticing just how many brands are claiming to have artificial intelligence built into their products?

Artificial intelligence (AI) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The term may also be applied to any machine that exhibits traits associated with a human mind such as learning and problem-solving.

AI is not the ability to turn a kettle off once the water has boiled but would be AI if the kettle determined by itself that at 11 am on days below 25 degrees you had a cup of coffee and worked out that you were indeed at home it would boil the kettle ready for you at 11 am only on cooler days.

Thus AI is the ability to make decisions with lots of variable pieces of information. What the LifeStyler is annoyed about is the ability of marketers to throw the term around adding it to the description of their product inferring it is smarter than it is. AI is one of those things like the cloud that most people dont understand but are too embarrassed to admit they dont. Further, they fall into the trap of it must be better if the word is used.

To take this a step further technically, Google and Alexa are examples of machine learning, not AI.

My challenge to the readers is to call out products that are truly AI versus products that are just pretending to be AI. Cheers!

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Not so Artificial Intelligence When is AI really AI? - EFTM

Examples of Failure in Artificial Intelligence – ReadWrite

Amazon has a project they call Rekognition. Its an AI-based facial recognition software thats marketed to police agencies for use in investigations. Its essentially supposed to cross analyze images and direct law enforcement officers to possible suspects. The problem is that its not very accurate.

In a study by the Massachusetts chapter of the ACLU, dozens of Boston-area athletes pictures were run through the system. At least 27 of these athletes or roughly one-in-six were falsely matched with mugshots. This included three-time Super Bowl champion Duron Harmon of the New England Patriots.

Can you say, not a good look?

Users Find Flaws in Apples Face ID

Apple is always coming up with cutting edge technology. Theyve set the standards in the smartphone and mobile device industry for years. For the most part, they get things right. But sometimes they can be a bit too brash in their marketing. In other words, they like to flex their muscles. As you might expect, this invites haters, trolls, and skeptics to challenge their claims.

One recent example occurred with the release of the iPhone X. Leading up to the launch, Apple had invested a lot of time and marketing dollars into their front-facing facial recognition system that replaced the fingerprint reader as the primary method of accessing the phone. The claim was that the AI component was so smart readers could wear glasses, makeup, etc. without compromising functionality. And thats essentially true. The problem is that Apple also clearly stated the Face ID technology cant be spoofed by masks or other techniques.

One Vietnam-based security firm took this as a challenge. And with just $200, they made a mask out of stone powder, glued on some printed 2D eyes, and unlocked a phone. This is just a reminder that bold claims can sometimes come back to bite!

Robot Dog Meets Fatal Ending

Who doesnt love the idea of a robot puppy? You get a cute little machine without the barking, walking, pooping, eating, or expensive vet bills. But if youre looking for a life partner, you might not want this robodog.

In 2019, a Boston Robotics robodog named Spot met a dramatic and untimely onstage death while he was being demoed by the company CEO at a conference in Las Vegas. Tasked with walking, he slowly started to stumble and eventually collapsed to the floor as the audience uncomfortably gasped and chuckled.

Watson Is Not a Doctor

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Examples of Failure in Artificial Intelligence - ReadWrite

IMD to explore artificial intelligence to improve forecasting, predict extreme weather events – Firstpost

Press Trust of IndiaAug 03, 2020 11:55:43 IST

The India Meteorological Department (IMD) is planning to use artificial intelligence in weather forecasting, especially for issuing nowcasts, which can help improve 3-6 hours prediction of extreme weather events, its Director General Mrutunjay Mohapatra said on Sunday.

He said the use of artificial intelligence and machine learning is not as prevalent as it is in other fields and it is relatively new in the area of weather forecasting.

The IMD has invited research groups who can study how artificial intelligence (AI) be used for improving weather forecasting and the Ministry of Earth Sciences is evaluating their proposals, Mohapatra said.

He said the IMD is also planning to do collaborative studies on this with other institutions.

Also read:IMD releases weather apps Mausam, Meghdoot for public, farmers to track forecasts, warnings, imagery in real-time

IMD could soon be using AI alongside its current weather forecasting technology. Image Credit StormGeo

The IMD uses different tools like radars, satellite imagery, to issue nowcasts, which gives information on extreme weather events occurring in the next 3-6 hours.

The IMD issues forecasts for extreme weather events like thunderstorms, dust storms. Unlike cyclones, predictions of thunderstorms, which also bring lightning, squall and heavy rains, are more difficult as the extreme weather events develop and dissipate in a very short period of time.

Last month, over 160 people died due to lightning alone in Uttar Pradesh and Bihar.

The IMD wants to better the nowcast predictions through AI and machine learning.

"Artificial intelligence helps in understanding past weather models and this can make decision-making faster," Mohapatra said.

The National Oceanic and Atmospheric Administration (NOAA) of the US announced new strategies this year to expand the agency's application of four emerging science and technology focus areas NOAA Unmanned Systems, artificial intelligence, Omics, and the cloud -- to guide transformative advancements in the quality and timeliness of NOAA science, products and services.

Omics is a suite of advanced methods used to analyse material such as DNA, RNA, or proteins.

With regards to AI, it said the overarching goal of the NOAA Artificial Intelligence (AI) Strategy is to utilise AI to advance NOAA's requirements-driven mission priorities.

The NOAA said through this, it seeks to reduce the cost of data processing, and provide higher quality and more timely scientific products and services for societal benefits.

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IMD to explore artificial intelligence to improve forecasting, predict extreme weather events - Firstpost

IMD plans to use artificial intelligence in weather forecasting – The Financial Express

The India Meteorological Department (IMD) is planning to use artificial intelligence in weather forecasting, especially for issuing nowcasts, which can help improve 3-6 hours prediction of extreme weather events, its Director General Mrutunjay Mohapatra said on Sunday.

He said the use of artificial intelligence and machine learning is not as prevalent as it is in other fields and it is relatively new in the area of weather forecasting.The IMD has invited research groups who can study how artificial intelligence (AI) be used for improving weather forecasting and the Ministry of Earth Sciences is evaluating their proposals, Mohapatra said.

He said the IMD is also planning to do collaborative studies on this with other institutions. The IMD uses different tools like radars, satellite imagery, to issue nowcasts, which gives information on extreme weather events occurring in the next 3-6 hours.

The IMD issues forecasts for extreme weather events like thunderstorms, dust storms. Unlike cyclones, predictions of thunderstorms, which also bring lightning, squall and heavy rains, are more difficult as the extreme weather events develop and dissipate in a very short period of time.

Last month, over 160 people died due to lightning alone in Uttar Pradesh and Bihar. The IMD wants to better the nowcast predictions through AI and machine learning. Artificial intelligence helps in understanding past weather models and this can make decision-making faster, Mohapatra said.

The National Oceanic and Atmospheric Administration (NOAA) of the US announced new strategies this year to expand the agencys application of four emerging science and technology focus areas NOAA Unmanned Systems, artificial intelligence, Omics, and the cloud to guide transformative advancements in the quality and timeliness of NOAA science, products and services.

Omics is a suite of advanced methods used to analyse material such as DNA, RNA, or proteins. With regards to AI, it said the overarching goal of the NOAA Artificial Intelligence (AI) Strategy is to utilise AI to advance NOAAs requirements-driven mission priorities.

The NOAA said through this,?it seeks to reduce the cost of data processing, and provide higher quality and more timely scientific products and services for societal benefits.

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IMD plans to use artificial intelligence in weather forecasting - The Financial Express

MLOps: What You Need To Know – Forbes

Digital data multilayers.

MLOps is a relatively new concept in the AI (Artificial Intelligence) world and stands for machine learning operations.Its about how to best manage data scientists and operations people to allow for the effective development, deployment and monitoring of models.

MLOps is the natural progression of DevOps in the context of AI, said Samir Tout, who is a Professor of Cybersecurity at the Eastern Michigan University's School of Information Security & Applied Computing (SISAC).While it leverages DevOps' focus on security, compliance, and management of IT resources, MLOps real emphasis is on the consistent and smooth development of models and their scalability.

The origins of MLOps goes back to 2015 from a paper entitled Hidden Technical Debt in Machine Learning Systems.And since then, the growth has been particularly strong.Consider that the market for MLOps solutions is expected to reach $4 billion by 2025.

Putting ML models in production, operating models, and scaling use cases has been challenging for companies due to technology sprawl and siloing, said Santiago Giraldo, who is the Senior Product Marketing Manager and Data Engineer at Cloudera.In fact, 87% of projects dont get past the experiment phase and therefore, never make it into production.

Then how can MLOps help?Well, the handling of data is a big part of it.

Some key best practices are having a reproducible pipeline for data preparation and training, having a centralized experiment tracking system with well-defined metrics, and implementing a model management solution that makes it easy to compare alternative models across various metrics and roll back to an old model if there is a problem in production, said Matei Zaharia, who is the chief technologist at Databricks.These tools make it easy for ML teams to understand the performance of new models and catch and repair errors in production.

Something else to consider is that AI models are subject to change.This has certainly been apparent with the COVID-19 pandemic.The result is that many AI models have essentially gone haywire because of the lack of relevant datasets.

People often think a given model can be deployed and continue operating forever, but this is not accurate, said Randy LeBlanc, who is the VP of Customer Success at RapidMiner.Like a machine, models must be continuously monitored and maintained over time to see how theyre performing and shifting with new dataensuring that theyre delivering real, ongoing business impact.MLOps also allows for faster intervention when models degrade, meaning greater data security and accuracy, and allows businesses to develop and deploy models at a faster rate. For example, if you discovered an algorithm that will save you a million dollars per month, every month this model isnt in production or deployment costs you $1 million.

MLOps also requires rigorous tracking that is based on tangible metrics.If not, a project can easily go off the rails.When monitoring models, you want to have standard performance KPIs as well as those that are specific to the business problem, said Sarah Gates, who is an Analytics Strategist at SAS.This should be through a central location regardless of where the model is deployed or what language it was written in.That tracking should be automatedso you immediately know and are alertedwhen performance degrades.Performance monitoring should be multifaceted, so you are looking at your models from different perspectives.

While MLOps tools can be a huge help, there still needs to be discipline within the organization.Success is more than just about technology.

"Monitoring/testing of models requires a clear understanding of the data biases," said Michael Berthold, who is the CEO and co-founder of KNIME. "Scientific research on event, model change, and drift detection has most of the answers, but they are generally ignored in real life. You need to test on independent data, use challenger models and have frequent recalibration. Most data science toolboxes today totally ignore this aspect and have a very limited view on 'end-to-end' data science."

Tom (@ttaulli) is an advisor to startups and the author of Artificial Intelligence Basics: A Non-Technical Introduction and The Robotic Process Automation Handbook: A Guide to Implementing RPA Systems. He also has developed various online courses, such as for the COBOL programming language.

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MLOps: What You Need To Know - Forbes

Postdoctoral Research Associate in Artificial Intelligence job with DURHAM UNIVERSITY | 215559 – Times Higher Education (THE)

The Role

Applications are invited for a PDRA post in Artificial Intelligence.

1. Work closely with multi-national consumer goods corporation to identify short-list of applications of Artificial Intelligence (AI) in data mining, image processing, knowledge gathering etc. and to identify a short-list of projects that would benefit from AI methods.

2. For projects on the short-list, to deeper dive into the projects in order to define deliverables, what data is needed, milestones, etc. Deliverables could include a finished working model, successful proof of principle and a clear path forward, or a detailed assessment of why the proof of principle was not successful together with recommendations on how to address the problem in the future.

3. Over the course of the project duration, to undertake at least three R&D projects at Durham and to present a monthly updates to the relevant project teams at the corporation.

4. To hold a final workshop session at the corporation summarising and presenting the R&D work.

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Postdoctoral Research Associate in Artificial Intelligence job with DURHAM UNIVERSITY | 215559 - Times Higher Education (THE)

How do CEO’s Succeed with Artificial Intelligence at their Workplace? – Analytics Insight

Artificial Intelligence has arrived and it is good time that the C-suite especially the CEOs take a note of it. However, with the media hype surrounding digital transformation and AI the decision-makers of an enterprise often left in quandary as to how and when to implement AI and what to do with this business transformative technology.

With tangible results and takeaways, AI has shown real outcomes for early adopters resulting in a sense of trust and a feeling of assurance. To aid the C-Suite to derive benefits from this technology, Harvard Business Review has come up with a set of pointers which enterprisers both big and small need to know, for AI success in their workplace-

1. C-suite must take its time to evaluate the critical success from AI before deciding on a pilot.

2. It is good to believe in the hype surrounding AI implementation, disruptive technologies can potentially boost enterprise returns.

3. AI transformation might not succeed without the support of decision-making management.

4. Partnering for capability and capacity creation is a must for AI success.

5. Trust other technologies too, and avoid the temptation of putting tech teams solely in charge of AI implementation.

6. Accelerate the enterprise AI journey with a portfolio approach.

7. Machine Learning is powerful, but weigh your enterprise use cases before selecting the technology.

8. Build digital capabilities before an AI pilot project.

9. Take the change in overseeing the AI pilot in the first place.

10. Beware, people, change management and process-up-gradation are the biggest challenges.

The buzz around Artificial Intelligence (AI) has grown by leaps and bounds, all set to instil confidence among the C-suite all across the world. This is marked by an increase in investments and the widespread interest by venture capitalists, tech powerheads and change-makers. AI-infused digital transformation success stories are becoming all the louder and more prominent across enterprises crisscrossing domain functionalities.

The key adoption point of the IA influx arises from the adoption in AI machine learning and NLP infusion, to deliver more output and results that suits all the AI adopters. The AI adaptability across different industries will be different from BFSI, Telecom and Logistics all set to lead the way, while healthcare and the government sector is slowly and steadily preparing for the transitional shift.

In the future, developing new business models to build a growth path that is flexible and robust will be critical to digitization. The same seems to hold for AI, early AI adopters have been very proactive and robust in adoption g to the change, setting up examples for others to follow.

Summing up, the C-Suite must not make any mistake, the digital adoption is here, and the faster they realize its presence and embrace to these new technologies, the quicker they would adopt and stay in the competition race, else the time will come soon for perish. We are talking of a technology-dominated digital transformation era in some years from now.

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Kamalika Some is an NCFM level 1 certified professional with previous professional stints at Axis Bank and ICICI Bank. An MBA (Finance) and PGP Analytics by Education, Kamalika is passionate to write about Analytics driving technological change.

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How do CEO's Succeed with Artificial Intelligence at their Workplace? - Analytics Insight

The future of Artificial Intelligence and what it means to the Enterprise? – Analytics Insight

Technology headed by AI has been instrumental in augmenting human capacities and reinventing human lifestyle. Code-driven systems integrating information and connectivity have ushered a new era which was previously unimagined bringing untapped opportunities and unprecedented threats.

Technology experts across the world have predicted that networked artificial intelligence will amplify human effectiveness besides threating human autonomy, and capabilities. We are not far from the age of super intelligent AI where algorithms may match or even exceed human intelligence and capabilities on tasks which involve complex decision-making, sophisticated analytics, pattern recognition, reasoning and learning, language translation, visual acuity and speech recognition

Data Security

Modern enterprises generate data and most of that still battles against data abuse. Most AI tools are and will be dominated by companies and governments who are striving for profits or power. This leaves data silos and data lakes open rising fears of security against data mishandling.

Diminishing Human Cognition

Though many see AI to augment human capacities but some even predict the opposite. The increasing dependence on machine-driven networks may diminish human cognitive abilities to think for themselves, interact effectively with others and take decisions independent of automated systems.

Trade-off for the Inevitable

As AI algorithms have taken over decision making and predictions, humans may experience a loss of control over their ability to think and act. Decision-making on key aspects is automatically ceded to code powered black box tools. The drag and drop tools are not making decisions easy, as users know the context but do not understand the logic behind why the tools work. Thus, in this context, privacy and the power over choice; are scarified with no control over the processes.

AI and allied technologies have already achieved superhuman performance in a juncture of areas, and it is beyond doubt that their capabilities will improve over the years, probably very significantly in 10 years from now, by 2030. Aided by an access to vast data troves, bots powered by intelligent automation will surpass humans in their ability to take complex decisions. AI will drive a vast range of efficiency optimizations especially into highly rule-based chores which involve manpower.

Newer generations of citizen data scientists will become more and more dependent on networked AI structures and processes. Networked interdependence will, increase an enterprises vulnerability to cyberattacks. There will be a sharp gap between the digital haves and have-nots, especially those who are technologically dependent digital infrastructures. The next question will be to answer the commanding heights of the digital network infrastructures ownership and control.

Artificial Intelligence is empowering the ability for autonomous operation and the first thing which comes to mind is autonomous vehicles, but the applications are limitless. The combination of natural language processing, predictive analytics, and the world of intelligent sensors powered by IoT have had a pervasive impact in our daily lives.

Summing up, AI will be an integral component of an enterprise experience. Organisations will increasingly use and sometimes rely on AI systems to enhance their daily interactions with each other. In the next decade, AI will propel the powers of language translation and augmented creativity bringing a new dimension into digital transformation.

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About AuthorMore info about author

Kamalika Some is an NCFM level 1 certified professional with previous professional stints at Axis Bank and ICICI Bank. An MBA (Finance) and PGP Analytics by Education, Kamalika is passionate to write about Analytics driving technological change.

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The future of Artificial Intelligence and what it means to the Enterprise? - Analytics Insight

Artificial intelligence helps lead decisions over Intelligent automation and – 401kTV

Artificial intelligence helps lead decisions over intelligent automation. Intelligent automation can be thought of as a combination of robotic process automation and artificial intelligence, according to an article on the topic in HR Dive. HR Dive is a publication designed for human resources professionals. Organizations that embrace intelligent automation may experience a return on investment of 200% or more, according to an Everest Group report cited by HR Dive. However, that doesnt mean organizations can automatically anticipate a reduction in headcount. Projections of a reduction in workforce thanks to intelligent automation may possibly be inflated.

The Everest Group identified eight companies it called Pinnacle Enterprises. These are companies distinguished by their advanced intelligent automation capabilities and their superior outcomes. These companies generated about 140% ROI and reported more than 60% cost savings, thanks to artificial intelligence and intelligent automation. The companies the Everest Group identified as Pinnacle Enterprises also experienced a 67% improvement in operational metrics, compared to the 48% improvement reported by other organizations. The Pinnacle Organizations also experienced improvements in their top lines, time-to-market, and customer and employee experiences as a result of using artificial intelligence and intelligent automation in their businesses, according to the Everest Group report.

Technology, particularly artificial intelligence helps in many ways. By now, intelligent automation, is infiltrating businesses little by little, especially in the human resources space. Artificial intelligence helps HR professionals. It is easy to see where Artificial Intelligence helps other departments as it was identified as a top employee benefits trend for 2020. Its a trend employers would do well to pay attention to, especially since cost savings and ROI seem to be significant potential positive outcomes of adopting such technologies.

Technologies such as artificial intelligence and intelligent automation make human resources more efficient. According to a Hackett Group report from 2019, HR in organizations that leverage automation technology can do more with fewer resources an important distinction in a department thats often considered the heart of an organization, and that typically has more work than staff to complete it. In addition, the utilization of artificial intelligence and intelligent automation are hallmarks of a distinguished organization. Per the Hackett Group data, cited by HR Dive, world-class HR organizations leverage [artificial intelligence]. As a result, they have costs that are 20% lower than non-digital organizations and provide required services with 31% fewer employees.

Despite the apparent benefits, not everyone is a fan of automated technologies such as artificial intelligence and intelligent automation. Professors at the Wharton School of the University of Pennsylvania and ESSEC Business School, an international higher education institution located in France, Singapore, and Morocco, cautioned employers about the potential downsides of using artificial intelligence and intelligent automation in human resources functions. Specifically, they warned that artificial intelligence could create problems for human resources because its unable to measure some HR functions and infrequent employee activities because they generate little data, can solicit negative employee reactions, and is constrained by ethical and legal considerations. However, human resources professionals are finding some success in using artificial intelligence and intelligent automation to perform functions such as searching through resumes for keywords and assisting with other recruiting functions, for example.

Despite the concerns of some, its likely that artificial intelligence and intelligent automation will continue to command a presence in human resources. As such, automation will prompt organizations to make a heftier investment in talent, noted a study by MIT Sloan Management Review and Boston Consulting Groups BCG GAMMA and BCG Henderson Institute. The study found that employers who successfully embrace artificial intelligence and intelligent automation will build technology teams in-house and rely less on external vendors. Theyll also poach artificial intelligence talent from other companies and upskill current employees to be on the front lines of the automation movement. Artificial intelligence and intelligent automation is here to stay, and its only getting more pervasive, especially in human resources and employee benefits. Employers should be ready.

Steff C. Chalk is Executive Director of The Retirement Advisor University, a collaboration with UCLA Anderson School of Management Executive Education. Steff also serves as Executive Director of The Plan Sponsor University and is current faculty of The Retirement Adviser University.

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Artificial intelligence helps lead decisions over Intelligent automation and - 401kTV