EDITION 1049
9 DECEMBER 2024

On this day in 1868, The world's first traffic light was erected near Westminster Bridge in London; however, it was removed a month later after a gas leak caused one of the lights to explode.

So, as another week passes into the annals of history, here are 10 things which caught my attention and may have escaped yours. Please feel free to share on social media and forward to your colleagues and friends so they can also subscribe, learn and engage. I would be very grateful if you did.

Just before you dive in, remember our POTENTIAL workbook [see below] is on offer for only £99. This unique workbook will help guide your organisation to its highest potential. Contact us today to start your transformation.

William Montgomery
Editor and CEO of TEN

1. How to motivate your problem employee. Motivating a problem employee can be challenging, but it’s often a matter of addressing the root causes of their behaviour, creating a supportive environment, and offering clear, constructive feedback. By approaching the situation with empathy, clarity, and a focus on growth, you’ll increase the likelihood of turning around a problem employee. READ MORE

2. Central banks should tread cautiously. The OECD has cautioned central banks against rushing into interest rate cuts, citing persistent inflation concerns, particularly in the services sector. The Paris-based organisation noted the global economy's resilience while upgrading growth forecasts for major economies. The European Central Bank's benchmark rate is projected to decrease from 3.25% to 2% by late 2025. Meanwhile, Bank of England governor has indicated that four interest rate cuts could be expected in 2025, based on market forecasts. Speaking at the FT's Global Boardroom conference, the governor inflation has fallen more rapidly than predicted, from 11.1% in late 2022 to 2.3% in October this year, though he emphasised the need for a "gradual" approach due to persistent services inflation. Financial Times

3. Is this the year of the sober office party? Many companies are shifting towards sober, experience-based Christmas events, instead of alcohol-heavy late-night parties. This includes activities such as wreath-making, indoor crazy golf and laser clay-pigeon shooting. As well as reflecting younger workers’ preference for healthier lifestyles, from an employer’s perspective, these changes promote workplace inclusivity and help mitigate risks of misconduct. Some organisations are taking further steps by appointing chaperones for festive outings or setting alcohol limits to safeguard their reputations. Additionally, with the rise of remote work, employees are leaving parties earlier, prioritising a timely return home over extended celebrations. Financial Times

4. Whitehall not transparent on AI use. UK government departments are failing to list how they're using artificial intelligence on a mandatory register. While AI is being extensively used across government departments for tasks ranging from benefit payments to immigration enforcement, only nine algorithmic systems have been officially registered. None of these include AI programmes used in welfare or police operations. The Department for Work and Pensions is using AI to process documents and detect fraud in universal credit claims, while the Home Office employs AI in immigration enforcement. Police forces are utilising facial recognition software, and NHS England has a £330m contract for a data platform. The Guardian

5. What trend or prediction will have the biggest impact in the coming year? It's almost end of the year – a time to not only reflect on what we faced in 2024 but also to anticipate what the next 12 months have in store. What trends will be truly transformational, and what will prove to be just a passing fad? In 2024, generative AI and a volatile economic climate defined the global business environment. In the year ahead, the value of human connection will come to the forefront, with artificial intelligence becoming part of daily life and businesses reinventing how to reach customers in authentic ways – opening the door for new discoveries and economic opportunity. What trend or prediction will have the biggest impact in the coming year? VOTE HERE

6. Amazon to launch supercomputer. Get ready for the "Ultracluster." Amazon Web Services' newest project is a huge AI supercomputer composed of "hundreds of thousands" of its own Trainium chips. Called Project Rainier, it is expected to be ready in 2025. It'll be used by AI startup Anthropic, in which Amazon recently invested another $4 billion. The tech behemoth has been working to make its chips competitive with offerings from market leader Nvidia, and announced it will begin supplying Apple with chips. Also at its re:invent conference last week, AWS unveiled its new Nova "family" of generative AI models. Wall Street Journal

7. One in five shop purchases now made in cash. Cash usage in shops rose for the second consecutive year, accounting for 20% of transactions in 2023, according to the British Retail Consortium. Many shoppers turned to cash as a budgeting tool amid the cost-of-living crisis. The move toward cashless systems in venues like theatres, universities and public services has raised concerns about social exclusion. Disabled individuals and abuse survivors, who often rely on cash for independence or safety, are particularly affected, with charities highlighting the risks of control through digital payments. To address these challenges, the Financial Conduct Authority has introduced stricter rules requiring banks to maintain cash access, advising that new banking hubs, ATMs, and Post Office facilities should be offered to plug gaps caused by branch closures. BBC

8. NHS to restrict weight-loss treatment. The number of NHS patients in England who will be offered weight-loss jab Mounjaro over the next three years will be restricted to 220,000, fewer than one in 15 of the total 3.4 million adults eligible for treatment. Medicines regulator Nice said that owing to a lack of capacity in the health service, access to the drug would be limited to patients most at risk of complications from obesity-related health conditions, with a full roll-out expected to take 12 years. Metro

9. Has first past the post had its day? Fewer than a quarter (23%) of Britons would opt to stick with the "first past the post" system for UK general elections rather than shifting to proportional representation, according to YouGov polling. The survey of 5,123 people found that 44% favoured the system in which a party's number of MPs is based on its national vote share, while 32% said they didn't know. Daily Mail

10. The bottom line. Young adults aged 18 to 24 are now spending just over six hours a day online, on average. Three-quarters of them use TikTok, spending an average of 64 minutes a day on the video-sharing app, up from 55 minutes last year. The average UK adult spends four hours and 20 minutes online each day. Daily Telegraph