Assoc. Prof. Selvakumar Manickam
Universiti Sains Malaysia, Malaysia
Research Area: Cybersecurity, Internet of Things, Industry 4.0, Cloud Computing, Big Data, and Machine Learning
Speech Title: Cloud Computing and Industry 4.0 Ecosystem: Cybersecurity concerns, challenges, and opportunities
Abstract: Industry 4.0 as a driving force is making tremendous progress, especially in the manufacturing sector, where all key components involved in production processes are becoming digitally interconnected. The combination of Industry 4.0 with cloud computing has the potential to offer the customer more flexibility at lower costs. Similar to how steam engines revolutionized the first industrial revolution, cloud.
Prof. Zhang Lei
School of Economics, Sichuan University
Research Area：Macroeconomics, Finance
Speech Title: Belief bifurcation in an increasingly interconnected world?
Abstract:The recent history of globalization suggests that an increasing interconnection between countries brought about by technological progress, though produced tremendous benefits to the world economy on average, engenders vastly different views and attitudes among different population groups. This divergence of opinions can significantly affect not only domestic politics, but also international cooperations.
In a world where individual verification of the true state of nature is prohibitively costly, a naturally rational belief-updating-rule would be that the individual uses the weighted average of his/her own signal and those of his/her neighbour’s to form the belief. So this social learning rule would include the average of the neighbour’s opinions. In a highly and quite evenly interconnected population with such social learning rule, posterior beliefs in the population tend to converge, contrary to what have been observed. By retaining the assumption that belief updating is the rule above, this paper puts forward a hypothesis that sufficient degree of homophile in choosing interconnection could in principle generate bifurcation in posterior beliefs as homophile disproportionally favours in-group connectivity. As these posterior beliefs may not reflect the true state of nature, actions taken based on these beliefs may result in inferior welfare.