13/04/2016 World Business Report


13/04/2016

Similar Content

Browse content similar to 13/04/2016. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

Now for the latest financial news with Sally

:00:00.:00:00.

Artificially intelligent robots that talk to humans as

:00:00.:00:22.

Facebook is getting in on the act, but is it just another way

:00:23.:00:26.

The EU will present its proposal for a new data transfer agreement

:00:27.:00:35.

with the United States after the so-called "Safe Harbour"

:00:36.:00:37.

Chinese trade news shows the worlds second

:00:38.:00:56.

Facebook is holding its annual developers conference

:00:57.:01:04.

The idea is to show off new products the social network believes will be

:01:05.:01:08.

This year, the company has unveiled chat bots

:01:09.:01:12.

It's a form of artificial intelligence, which Facebook hopes

:01:13.:01:18.

will create a more interactive experience within the messaging app,

:01:19.:01:21.

such as giving users the ability to shop, book travel, and more.

:01:22.:01:24.

Chatbots learn from data sets, so they can mimic the way

:01:25.:01:27.

Many big companies are already using virtual assistants

:01:28.:01:42.

on their websites, because they are cheaper than training humans.

:01:43.:01:44.

And, some studies suggest people prefer dealing with bots on websites

:01:45.:01:47.

According to research firm, Gartner, up to 85% of customer service

:01:48.:01:56.

Dave Lee is at the Facebook developers conference for us

:01:57.:02:12.

and asked the network's head of messenger what the bots will bring.

:02:13.:02:19.

I think your life will be more and more on the messenger. You will

:02:20.:02:28.

interact with airlines is, as we announced a few weeks ago. You can

:02:29.:02:41.

tap in an address and get a ride soon... An increasing amount of your

:02:42.:02:48.

life will be spent in those threads in passenger with businesses. --

:02:49.:02:58.

messenger. Some people are already worried about bots irritating us in

:02:59.:03:04.

ways we haven't had to deal with before. But bots cannot start an

:03:05.:03:11.

interaction with you unless you want them to. We will have prominent user

:03:12.:03:22.

controls as well. If you don't want messages you will not get them. We

:03:23.:03:31.

want the experience of messenger to remain low noise. We have controls

:03:32.:03:37.

in place to make sure that happens. But if someone has my account they

:03:38.:03:45.

can do a lot of damage. How do you stop that from happening? Is it a

:03:46.:03:49.

security nightmare? Facebook has always been known for world-class

:03:50.:03:56.

security. We do really well to protect people from all kinds of

:03:57.:04:01.

different, you know, evil intentions and people. I think we are in a

:04:02.:04:06.

great position to continue doing that. If you look at the variety of

:04:07.:04:12.

different properties you use on line, I don't think they are as well

:04:13.:04:17.

equipped as we are to deal with that. And in the future we will have

:04:18.:04:23.

technology to be even safer. If you are having interactions with

:04:24.:04:26.

financial institutions wicked have the ability to secure that thread

:04:27.:04:34.

and secure your information. -- we could. So it is a positive, not a

:04:35.:04:42.

negative, on the security side. If you want to know more about that

:04:43.:04:48.

conference followed Dave on Twitter. -- follow. He is talking

:04:49.:04:54.

about it at the moment. Some

:04:55.:04:57.

of the world's largest corporations, including Google, Facebook,

:04:58.:04:59.

and Amazon, store data about In fact,

:05:00.:05:01.

every day there are literally thousands of bytes of data winging

:05:02.:05:04.

their way across the Atlantic. The question is how to keep

:05:05.:05:07.

that information safe. EU data protection authorities are

:05:08.:05:09.

to publish their opinion today on a new agreement put forward

:05:10.:05:11.

by the European Commission. The new deal is called

:05:12.:05:14.

"Privacy Shield," and it's intended to replace the earlier "EU-US Safe

:05:15.:05:16.

Harbor" deal, which was thrown out by the European Court of Justice

:05:17.:05:19.

last October following a complaint With me is Camilla Graham Wood,

:05:20.:05:22.

Legal Officer at We will try to make sense of this.

:05:23.:05:40.

Good morning. Just explained how this will work. -- explain. It is

:05:41.:05:49.

the new proposed data sharing agreement. It is being reviewed

:05:50.:05:55.

currently by data regulators. We understand they will make a decision

:05:56.:06:01.

today. There have been leaks that many regulators are not happy with

:06:02.:06:05.

the proposals in this agreement and they are sufficient to safeguard

:06:06.:06:14.

data. Do we know how it will work and how it is different to Safe

:06:15.:06:19.

Harbour? It is not sufficiently different. Your data in America is

:06:20.:06:28.

not owned by you, but in Europe you have control over it and you have

:06:29.:06:37.

access to it. Under Privacy Shield, the inadequacies in America still

:06:38.:06:41.

remain. It isn't adequate. Why would the part looking into this come up

:06:42.:06:48.

with something inadequate? That is a good question. This is a fundamental

:06:49.:06:52.

time where, even in America, they could push for fundamental data

:06:53.:07:01.

regulations. That isn't happening. These interests are in weak

:07:02.:07:04.

protections because these companies want to use and sell your data.

:07:05.:07:12.

While we hear a lot of propaganda that the Privacy Shield is

:07:13.:07:17.

equivalent to Europe, that is completely untrue. If you are

:07:18.:07:22.

right, though, resume oblivious system, Privacy Shield, as we know

:07:23.:07:29.

it, will not necessarily become the EU directives in the end. --

:07:30.:07:38.

presumably. -- directive. It has a lot to go through at the moment.

:07:39.:07:42.

That is what we hope. It has a lot to go through first. We want to have

:07:43.:07:51.

protection from both sides of the Atlantic. We have to question, if a

:07:52.:07:57.

company in America can play fast and loose with our data why can't

:07:58.:08:04.

Europe? We need equivalent protection. We will update you more

:08:05.:08:07.

on that. Now, let's talk about China because

:08:08.:08:10.

today we have some good news. Or, at least,

:08:11.:08:13.

that's how it looks on the surface. Exports surged by nearly 19%

:08:14.:08:15.

in March Plus, the fall in imports declined,

:08:16.:08:17.

too. Rico Hizon is in our

:08:18.:08:20.

Asia Business Hub in Singapore. Lovely to see you. Sally! Investors

:08:21.:08:35.

are too enthusiastic. They are excited. It went past expectations.

:08:36.:08:43.

The first increase is June. Asian markets are rising. -- since. But

:08:44.:08:47.

don't celebrate just yet according to analysts. It is roaring back to

:08:48.:08:53.

life due to a massive injection of credit from the government which

:08:54.:08:57.

could translate to higher debt levels going forward. For now, it

:08:58.:09:04.

has limited lectures on the consumption. But if you break down

:09:05.:09:09.

the numbers the figures were helped by having a low basis of

:09:10.:09:14.

comparison. Exports plunged by 50% year-on-year in March, 2015. Exports

:09:15.:09:24.

were held by seasonal distortions around the holidays. Imports were

:09:25.:09:28.

lifted by shallower commodity price deflation. The bottom line of this

:09:29.:09:33.

analysis, we still may see weaker external demand of exports going

:09:34.:09:39.

forward. This may just be an aberration. In the first three

:09:40.:09:46.

months, China's trade with the EU, America and Southeast Asia are all

:09:47.:09:52.

the client. It is being underpinned by a surging credit. -- declining.

:09:53.:10:01.

OK, I am not smiling as much now. Thank you, Rico Hizon.

:10:02.:10:03.

The International Monetary Fund has cut its global growth forecasts

:10:04.:10:07.

for the second time in just three months.

:10:08.:10:09.

The IMF now sees global expansion this year at 3.2%, down from

:10:10.:10:12.

China's slowdown and weak commodity prices are being blamed, but the IMF

:10:13.:10:16.

also sees financial risks and geopolitical shocks ahead.

:10:17.:10:27.

The price of oil is down slightly at still above $44 a barrel. It is used

:10:28.:10:38.

in stocks around the world. Oil stocks are doing really well. Japan,

:10:39.:10:45.

over 2%. A weaker yen is boosting sentiment. I will show you the US.

:10:46.:10:52.

The figures are getting there, I am getting in trouble. I will see you

:10:53.:10:57.

in a few minutes.

:10:58.:11:00.

Download Subtitles

SRT

ASS