Demographic change and insufficiently high returns to sustainably finance the 2nd pillar: Employees in Switzerland are aware of the challenges in retirement provision. Only just four percent of respondents to the representative HSLU study are opposed to measures to remedy the financing problems of the AHV and 2nd pillar. "Accordingly, respondents' skepticism about pension benefits is high," says Yvonne Seiler Zimmermann, study director and lecturer at the Lucerne University of Applied Sciences and Arts. According to the HSLU study, around three out of five respondents do not believe that they will receive enough money from the AHV and 2nd pillar to maintain their accustomed standard of living in old age. Interestingly, women trust the pension system even less than men. Not surprisingly, younger people have less hope of receiving enough money from the AHV and 2nd pillar than older people.

People want to take personal responsibility for their own retirement provision

One of the megatrends of futurology is individualization in all areas of life. "This trend is leading in particular to people living more self-determined lives and increasingly wanting to organize their work activities flexibly and according to their needs," says Seiler Zimmermann. In addition to flexible working hours and locations, many employees also increasingly want time off during their working lives for further training, sabbaticals, parental leave or to care for relatives. More and more people are also expressing the desire to retire earlier than the statutory retirement age. The study leader is certain: "The megatrend of individualization ensures that people will also have to take on more personal responsibility when it comes to retirement planning." This means, in particular, that people must be able to determine the investment strategy for their own pension capital and make their own provisions for time out. "Otherwise, an interruption in employment can result in a reduction in pensions at a later date," explains Seiler Zimmermann.

Individual pension solutions meet with interest

The survey shows that, at 62 percent, the vast majority of respondents are positive about the idea of determining their own investment strategy. However, 30 percent would like good advice on determining the investment strategy and a further 24 percent would like to be able to choose from a predefined selection of alternatives.

The clear majority of respondents would welcome being able to finance a career break with a special, additional pension account. 82 percent of them would like that. "Most people would therefore be willing to take on more personal responsibility when it comes to retirement planning," says Seiler Zimmermann. "Individual pension solutions are attracting interest.". Most often, respondents would want to use this supplemental account to fund early retirement, followed by sabbaticals. Many respondents would also be content to have such an account without knowing exactly what they will use the money for later.

Ignorance of own knowledge gaps

A minimal level of knowledge regarding finances and retirement planning is required in order to take care of one's own financial provision. The survey results show: The respondents' knowledge of the pension system and their own pension plan is rather modest. "The main problem here is not the lack of knowledge in and of itself, but the unawareness of one's own knowledge gaps," Yvonne Seiler Zimmermann specifies. "If someone is aware that he or she doesn't know something, that person can seek advice or inform themselves," the HSLU expert continues. However, many people lack this awareness of their own ignorance.

This knowledge gap is also particularly evident in the regulations on voluntary retirement provision. "For example, a person who has decided to stop working may no longer pay into pillar 3a," explains Seiler Zimmermann. But many don't know that. Only just 35 percent of respondents know that not all people in Switzerland are eligible to pay into pillar 3a. "Anyone who decides to interrupt their employment should take such factors into consideration," says the HSLU expert. This is just one example of many, she said, of why acquiring knowledge in the area of retirement planning is worthwhile. With this study, the study authors want to draw attention to this issue. Seiler Zimmermann: "Public discussions about pension topics can help to improve the level of knowledge and understanding among the general population."

Source: Lucerne University

The consulting firm Accenture took the pulse on the topic of digital health and surveyed both industry experts and consumers. The results showed that industry experts invest most in customer portals, mobile apps (e.g., mobile health coaches) and platforms.

Digital Health: Challenges in many areas

In connection with these topics, however, the study reveals that there are still many challenges and broader issues, such as:

Strategy & Differentiation

• What are the goals to be achieved with Digital Health?
• What partnerships are needed to realize the goals?
• How can we differentiate our digital health offering from our competitors?

Skills & Organization

• Which competencies need to be available/built up internally or supplemented via external partners?
• Where and how should we build our digital health competencies in our organization?

Service Portfolio Scope

• Do we have a clear/coherent overall strategy for our (planned) digital health service portfolio (e.g., where do we use in-house developments, where third-party platforms)?
• What is the exact scope/offerings of the respective portals, apps, etc.?

Finance

• Who covers the costs of platform operation, customer acquisition, and incentivizing customers and service providers?

Further, Digital Health executives are addressing issues such as the impact of the Metaverse on the insurance industry, the potential of a national health cloud, and effective digital patient management.

Great willingness for digital health solutions among Swiss policyholders

On the consumer side, 70% already see added value in digital health solutions. Consumers see clear advantages, particularly in the availability of healthcare services, transparency and security in the event of an emergency. In general, trust in digital solutions in the healthcare sector has been increasing for several years. Health insurers should therefore consider how they can best meet the expectations of their customers in this area and what prerequisites (e.g., partnerships, technical foundations) are necessary for this.

A majority of Swiss policyholders also show great interest in the digital management of health data: 57% of the surveyed policyholders are willing to manage their health data digitally - of which 11% already manage their data digitally today. The expectations of the insured are interesting. For example, 42% expect health insurers to take responsibility for data management and provide attractive offers. In addition, 40% believe that the federal government and the cantons should assume responsibility; 37%, in turn, see this task with the medical institutions. Meeting these customer expectations therefore requires an exchange between health insurers, the Confederation and the cantons, and the other players in the healthcare system.

What information is more likely to want to be shared and what is not

The survey also revealed that 80% of consumers are willing to share their health data directly with health insurers. As can be seen from the chart below, this mainly involves medical data on blood group, vaccinations, medications and allergies. However, this willingness to share lifestyle data (e.g., data on fitness, heart rate and sleep patterns) decreases significantly. It has also been shown that consumers expect a specific service in return from their health insurer, e.g. in the form of a reduction in premiums. Health insurers should consider which data-based offers could be attractive to their customers and whether the focus should be more on medically oriented or lifestyle offers.

Finally, the topic of digital support for a self-determined life in old age is also of central importance to consumers: 91% are open to this topic, particularly against the backdrop of demographic developments, rising care costs and the shortage of care staff and homes. 75% of the respondents can imagine using digital solutions for emergencies (e.g., fall detection) for themselves or their relatives. Other needs were expressed in the areas of medical support (e.g., automatic ordering of medication) and support in everyday life (e.g., tele/video communication with medical staff). In view of these customer needs and the current market situation, health insurers but also other players in the healthcare market have numerous opportunities in the areas of partnerships/ecosystems and the launch of independent innovative products.
In light of these findings, Dr. Marcel Thom, Study Leader and Head of Insurance & Digital Health at Accenture Switzerland, says: "Both health insurers and the population have great expectations of digital health. The challenge here is to quickly create solutions that offer clear added value for providers and end users."

Source: Accenture

The industrialized countries have pledged to provide $100 billion per year from 2020 for climate financing from public and private sources. Technology transfer is particularly important here: The developing and emerging countries need not only money for the expansion of sustainable technologies, but also knowledge about low-carbon technologies.

So far, this goal is not being achieved - and not only because climate financing is lacking. "Most patents for low-carbon technologies are owned by companies in industrialized countries. This gives them a big competitive advantage. They only share their knowledge when it is advantageous for them," says Andreas Goldthau of the Institute for Advanced Sustainability Studies e.V. (IASS) and the University of Erfurt, co-author of a study on this topic. China is so far the only emerging market that has successfully attracted technology transfer through foreign direct investment, Goldthau cites as an example. In order to tap into the Chinese market, companies were willing to "transfer" their technologies, i.e. pass on knowledge.

China's recipe for success is only transferable to a limited extent

China's success in building a low-carbon technology sector is attributed to the high innovation capacity of Chinese industry as well as policy measures. "These include the promotion of joint ventures and knowledge transfer, but also a mandatory domestic content, meaning foreign investors must use products or services made in China. With its large and profitable market, China has been able to push through such measures," says the study's lead author, Silvia Weko (IASS/University of Erfurt). In other developing and emerging countries, however, similar efforts have proven ineffective or even counterproductive, she says.

There, foreign investment in low-carbon energy systems remains at too low a level. The countries are therefore using the predominantly fossil technologies and financial resources available to them. There is a risk that these countries will remain dependent on fossil energy in the long term.

Initiatives are committed to expanding the power grid, but too little to technology transfer

What can countries do that want to increase technology transfer but cannot get it through international markets or politics? Technology transfer initiatives, such as public-private partnerships or platforms like the United Nations Climate Technology Center and Network (CTCN), are seen as an opportunity for the energy transition in the Global South. Such initiatives should fill the market gap, but their track record is mixed, according to the IASS researchers' analysis.

Weko and Goldthau identified 71 international initiatives that count the transfer of low-carbon technologies among their goals. A particularly large number of these are active in countries where only a small proportion of the population has access to electricity. They are successfully improving the development of sustainable energy systems there. However, only 26 of the 71 initiatives studied actually take on the task of technology transfer.

In order to increase the transfer of knowledge to developing and emerging countries, the researchers believe it is essential that industrialized countries keep their funding promises and provide greater support to the United Nations Climate Technology Center and Network. This is because the gap cannot be closed with the current patchwork of initiatives. Linking up with trade also offers opportunities: For example, technology-importing countries can negotiate better conditions if they pool their demand.

Source: www.iass-potsdam.de

At the heart of EPFL - the emblematic showplace of innovation - the third edition of the mentoring program, which gives girls aged 13-16 exciting insights into technical professions and thus encourages them in the STEM disciplines, was launched. "In order to address the shortage of qualified workers in the fields of computer science and technology, it is important to encourage the next generation of women, who can definitely take their place in these still predominantly male-dominated professions," explains Sandra Weidmann, program manager Swiss TecLadies. Swiss TecLadies works with the Research center in vocational psychology and career counseling (CePCO) of the University of Lausanne UNIL together to give the program the greatest possible impact.

Enthusiasm aroused among the budding Swiss TecLadies

The day began with the plenary assembly in the large hall of EPFL and the welcoming addresses by the head of the SPS Science Promotion Department of EPFL, Dr. Farnaz Moser-Boroumand, and the President of SATW, Prof. Dr. Benoît Dubuis. This was followed by speeches by various well-known female personalities from the fields of technology, computer science and space.

Renowned experts such as Deborah Müller, Space Technology and Industrial Relations Advisor, ESA Technology Harmonisation Swiss Delegation and mentor for German-speaking Switzerland, Eleonore Poli, PhD student and analog astronaut, and Prof. Dr. Monica Landoni, researcher and speaker at the Faculty of Informatics at the Università della Svizzera italiana USI and also mentor for southern Switzerland, took the floor on stage. Those who were there noticed that the verve and enthusiasm in the presentations were able to convince the fascinated audience of their passion for their respective activities. The speakers highlighted the great importance of science for the challenges of modern society and called on the young women to enter these fields in order to help shape the world of tomorrow. 

Fun getting to know each other

After these presentations, it was time for the mentees and mentors to find out their counterpart in the hall. The search was musically accompanied by the Post Tenebrass Band. In the form of speed dating, several questions had to be answered during a few minutes to break the ice. 

After a joint lunch, the mentees were able to participate in programming workshops offered by EPFL's Science Promotion SPS department in German, French and Italian. Dr. Farnaz Moser-Boroumand explained, "To address the current and future challenges of our society, we need scientists and engineers, women and men. That's why it's essential to give girls all the tools they need to build their confidence enough to want to pursue science and engineering careers." During this time, the female mentors took part in a workshop by the RADAR RP agency on the topic of "Communicating better in science" or in an info session on "Being a mentor for a TecLady."

The mentors involved in the program are specialists in the fields of technology, science or even IT and aerospace. They work in a wide variety of companies from all over Switzerland.

Source: SATW

The current challenging geopolitical situation makes it clear how dangerous Switzerland's energy dependence is. One thing is clear: the energy transition is the only way Switzerland can ensure security of supply in the long term. This became clear at this year's aeesuisse congress.

aeesuisse Congress 2022: "Release the brakes. Act now!"

As part of the aeesuisse Congress 2022, the energy transition as a guarantor of supply security was discussed by numerous relevant and prominent speakers. Under the motto "Release the brakes. Act now!", the conference held on September 1, 2022 in Emmenbrücke met with great interest. In recent years, the aeesuisse congress has established itself as a central meeting place for the energy industry. aeesuisse is the umbrella organization of the renewable energy and energy efficiency industry. It represents the interests of 35 industry associations and thus of around 35,000 companies in Switzerland.

Top-class speakers from business and politics

The congress day started excitingly and interactively with the "Market of Energy Turners": During a live project pitching, the audience chose Ernst Schweizer AG, the sustainability and solar pioneer of the first hour, as the winner of the competition. With the presented photovoltaic mounting system, Ernst Schweizer AG not only makes an important contribution to the urgent expansion of renewable energies, but also strengthens the circular economy. The "aeesuisse Prize 2022" was presented by Gianni Operto, President of aeesuisse. 

This was immediately followed by exciting keynotes on the heat transition, the possibilities of photovoltaic technology, and innovations in e-mobility charging infrastructure from Lars Hummelmose, Director at the Danish Board of District Heating, Noah Heynen, Helion CEO, and Patrick Kern, CEO of Brugg eConnect AG.

Insight into the current federal energy policy

In the afternoon, the congress started with a keynote on the current energy policy by Federal Councilor Simonetta Sommaruga. This was followed by exciting and cutting-edge keynotes on Europe, business and transformation in the energy transition by Cornelia Daniel, owner of the Dachgold Initiative and Austrian of the Year 2020, Martin Schwab, CEO of CKW AG, Dr. Günther Bachmann, former Secretary General of the German Sustainability Council and advisor to the German federal government, and Helmut Ruhl, CEO of AMAG Group AG.

At the end of the congress, the energy transition as a guarantor of supply security was discussed with representatives from politics, science and business at the Energy Talk. The participants included Damian Müller, Member of the Council of States FDP, Peter Galliker, CEO of Galliker Transport AG, Gabriela Suter, National Councillor SP and Prof. Dr. Gabriela Hug, Professor Power Systems Laboratory at ETH Zurich. The congress was rounded off by a closing speech by Priska Wismer-Felder, National Councillor for the Center and Vice President of aeesuisse.

Further information

Photovoltaics is the mainstay of the desired energy turnaround. Ongoing developments and research activities are continuously leading to improvements in the efficiency and production technologies of photovoltaic modules. Solar cells are therefore increasingly becoming a mass product. The state of the art today are the so-called heterojunction solar cells, which manage with a comparatively low use of the semiconductor metal silicon and thus have a low CO2 footprint. In addition, they achieve the highest efficiencies in industrial solar cell production. 

However, silver is still used in solar cell production. This precious metal is responsible for conducting the electricity generated in the silicon layer. Recently, however, the prices for silver have risen massively; silver now accounts for around ten percent of the manufacturing costs of a PV module. In addition, supplies of this precious metal are very limited. The solar industry alone already processes 15 percent of the silver mined worldwide today - and the trend is rising. Not to be forgotten are other sectors, e.g. electromobility, which also have an ever-increasing demand for this metal.

Copper for solar cell contacts

So can silver be replaced by another material of equal value? And if so, what impact will this have on solar cell production processes? Researchers at the Fraunhofer Institute for Solar Energy Systems ISE in Freiburg i. Br. have addressed these questions. A research team led by Dr. Markus Glatthaar has developed an electroplating process to replace silver with copper for the promising heterojunction technology. Copper is many times cheaper and more readily available than silver.

Anyone involved in electroplating knows that surfaces which are not to be plated must first be masked with a non-conductive layer. The copper then builds up in the electrolyte bath only in those areas that are not coated with this insulation. Until now, expensive polymer-based coatings or laminated foils have been used for this insulating layer. Their disposal is time-consuming and costly. However, Dr. Markus Glatthaar's team has now succeeded in replacing the polymers with aluminum. Just like copper, aluminum is fully recyclable. The double material change, from silver to copper and from polymer to aluminum, also brings a double benefit: Solar cell production not only becomes more sustainable, but also significantly cheaper.

Innovative electroplating technology and improved electrolytes

The special electroplating process now makes it possible to replace silver with copper. According to the researchers, it was even possible to improve the conductivity of the so-called busbars, i.e. the link between the individual solar cells. Due to the laser structuring used, the copper lines are particularly narrow. Due to the extremely narrow width of the copper line of only 19 μm (micrometers), the light-absorbing silicon layer experiences less shadowing than with the silver lines. This and the high conductivity of the electrodeposited copper improve the current yield.

But aluminum as a masking layer? Aluminum is also conductive, isn't it? Indeed, this metal seems unsuitable as a mask at first glance. However, aluminum has the property that it oxidizes rapidly and forms an oxide layer a few nanometers thick, which acts as an insulator. "We were able to adjust the process parameters and develop a special type of electrolyte that ensures that the extremely thin, native oxide layer of aluminum can reliably fulfill its insulating function. This was an important milestone for the success of our research project," Dr. Glatthaar is pleased to report.

Push for cheaper solar cell production

The researchers are convinced that both copper and aluminum, as recyclable materials, can bring photovoltaic production a good deal closer to the circular economy and improve environmental and social standards in the process. As a next step, a spin-off was founded by Fraunhofer ISE, which plans to create a pilot production plant together with industrial partners at the beginning of 2023.

Substituting copper for silver could give solar cell production a further boost. This is because copper is more readily available than silver and has shorter supply chains. In addition, the copper price is currently less dependent on international commodity markets. The price of a ton of copper averaged $7545 in July 2022. By comparison, in May 2021, more than 10,000 dollars per ton of copper still had to be paid.

Sources: Techexplore.com / Fraunhofer ISE

The foreseeable stabilization of interest rates is having a positive impact on the stock markets, which are showing the first signs of recovery. At the end of July, the global stock markets (MSCI World Net +11.0%) closed clearly in positive territory and the Euro Stoxx 50 (+7.5%) and the German benchmark index Dax (+5.5%) also recovered somewhat from the sharp price setbacks of the previous months. In this environment, the medical technology and healthcare services sector also performed well. The sector, as measured by the MSCI World Healthcare Equipment & Supplies, posted a performance of 9.3% and significantly outperformed the broad healthcare market MSCI World Healthcare Net (+6.2%). We are also encouraged by the recent reporting of second quarter results. Boston Scientific, Stryker, Danaher or Thermo Fisher, but also US health insurers such as Molina or Centene reported results above expectations and were rewarded accordingly with rising share prices. However, even companies that did not quite meet expectations, such as Align, Intuitive Surgical or Edwards Lifesciences, recorded a positive share price performance. This is a further indicator that investors significantly reduced the risk discount thanks to the improved information situation, which more than compensated for the slightly lower outlook for the full year 2022.

Sales growth despite recession

The great uncertainty among investors regarding a recovery in treatment figures after the last wave of corona has given way to cautious optimism. Although the medtech sector is not completely immune to recession, inflation and interest rate changes, comments from companies have shown that the medtech and healthcare services sector has not lost its nimbus as a safe haven in difficult times. Looking back at the last major recessionary period in 2008-09, the vast majority of medtech companies showed revenue and profit growth at that time. Since then, the sector has continued to mature and has consolidated its character as one of the most defensive sectors. Medical technology is characterized by above-average earnings growth combined with low volatility. These strengths are particularly attractive in a market environment where investors are uncertain about the future development of the overall economy.

Acquisitions and new products in the medtech and services sector

We consider the further outlook for the 2022 stock market year in the medtech and services sector to be attractive. In the major markets of this sector (North America, Europe and Japan), infections and hospitalizations from the Omikron variant have declined rapidly and significantly. We believe that broad immunity will enable a significant recovery in elective procedures in 2022 and 2023.

The risk-return profile of the sector is seen as favorable by many investors. Regardless of a normalization of the Corona and geopolitical situation, long-term growth factors, such as rising life expectancy and high innovation, are causing the Medtech & Services sector to grow faster than the economy as a whole and to increase earnings at an above-average rate. For example, the long-term average earnings growth per share in the MSCI Medtech & Services is 12%, twice that of all companies included in the MSCI World Index. Higher material and logistics costs are real, but should be offset by well-managed companies. We also expect approvals and launches of many relevant products for diabetes and structural heart disease.

The sector's valuation base is moderate and not only offers opportunities for investors. We also expect increased takeover activity as the valuation multiples of many emerging growth companies have declined significantly. The Bellevue Medtech & Services fund (ISIN B-EUR LU0415391431) invests in the entire healthcare market excluding drug manufacturers. One of the reasons for the sustained success of the investment strategy is that the medtech and services sector is one of the most defensive healthcare sectors with sustainable outperformance potential. Combined with an additional growth spurt made possible by treatments postponed during the Corona crisis, this makes for an attractive entry point for investors.

Author:
Marcel Fritsch joined Bellevue Asset Management in 2008 and is portfolio manager of the Bellevue Medtech & Services and Bellevue Digital Health funds. Previously, he worked as a management consultant at Deloitte & Touche for more than 3 years. His responsibilities included the development of corporate strategies, the review of organizational structures as well as the valuation of companies in the run-up to transactions. Marcel Fritsch studied economics at the University of St. Gallen (HSG).
Further information: Bellevue Asset Management AG 

The topic of sustainability has been part of the entrepreneurial thinking and actions of many Swiss companies for many years. Thurgauer Kantonalbank is taking a pioneering role in training on this topic. Starting in September, its 800 employees will be trained by a team of experts from the ZHAW School of Management and Law. "To varying degrees, all employees - from apprentices to members of the executive board - will come into contact with various sustainability topics in a tailored manner," says Andreas Schweizer, project manager and lecturer for Corporate Banking & Sustainable Financing at the ZHAW School of Management and Law.

Pioneering role of TKB and ZHAW

"We don't know of any other bank in Switzerland that is taking on the task of building up knowledge about sustainability to this extent and training its employees in this way," says Schweizer. To this end, the project team, consisting of employees from Thurgauer Kantonalbank and the ZHAW School of Management and Law, has developed a customized training concept. In around 1,900 training days, the staff of Thurgauer Kantonalbank will address the challenging question of how the opportunities of a sustainable economy can offer added value in daily customer contact. 

Sustainability training consisting of self-study and classroom instruction

The training courses are designed in such a way that knowledge is imparted in several stages and in a way that is appropriate to the employee's respective function. In addition, according to Andreas Schweizer, various forms of learning are combined, such as self-study, virtual live training and face-to-face instruction in particular. "We want to offer participants flexibility with location-independent access to learning content, but still promote dialog among each other in direct exchange."

Transformation causes costs

According to the Swiss Bankers Association, over 387 billion will need to be invested for a sustainable transformation of the Swiss economy by 2050. However, this figure will grow even further due to the additional social transformation. This large amount of investment will have to be financed to a large extent by the banks. That is why they have an important role to play. "There is a lot of potential, but also a great many risks. Among other things, this involves business models that are not fit for the future or new technologies that then do not become established," Schweizer specifies. "Against this backdrop, the development of knowledge in the banking industry is of great importance. With its training project, Thurgauer Kantonalbank is taking a big step in the right direction. 

Source: ZHAW

Last week, the well-known and widely used password manager LastPass reported a Security gap. According to the company, the security breach occurred two weeks earlier, when attackers broke into the system where LastPass stores the source code of its software. From there, the attackers stole parts of the source code and some proprietary technical information from LastPass. The cybercriminals rifled through the company's proprietary source code and intellectual property, but apparently did not get their hands on customer or employee data. This has now led to questions from concerned users: Are password managers still useful? Experts from IT security service provider Sophos comment as follows:

If I use LastPass, should I change all my passwords?

Users can, of course, change some or all of their passwords if they wish. However, according to reports, this security incident has nothing to do with the cybercriminals getting hold of personal data, let alone passwords, which are not stored in usable form on LastPass' servers anyway.

As a LastPass user, should I switch to another solution?

The fact is, according to LastPass, that neither personal nor password-related data (encrypted or otherwise) was stolen, but only source code and proprietary information of the company itself. A company's cybersecurity trustworthiness should be based on how it responds when a bug or vulnerability occurs, especially if the company's mistake did not directly and immediately endanger users. It is recommended that the LastPass incident report and the FAQ read and decide on further trust on this basis.

Doesn't stolen source code mean that hacks and exploits are bound to happen?

Source code is much easier to read and understand than a compiled, "binary" equivalent, especially if it is well commented and uses meaningful names for things like variables and functions within the software. In other words, this source code leak might help potential attackers a little, but firstly almost certainly not as much as one might initially think, and secondly not to the extent of enabling new attacks that could never have been figured out without the source code.

Should I dispense with password managers altogether?

Fundamental concerns would be justified if password managers stored exact copies of all passwords on their own servers, where they could be read by attackers or queried by law enforcement. But no reasonable cloud-based password manager works that way.

Why should I use a password manager?

• A good password manager simplifies the use of passwords. It solves the problem of choosing and remembering dozens or maybe even hundreds of passwords - optionally reinforced by 2FA.
• A good password manager will not allow the same password twice. This is because when cybercriminals find out a password, for example by compromising a website, they use it or similar passwords to try to gain access to other accounts.
• A good password manager can generate and store hundreds or even thousands of long, pseudo-random, complex and completely different passwords.
• A good password manager will not allow the correct password to be entered on the wrong page. This protects users from phishing, for example.

Editor's note: A detailed blog post from Sophos security expert Paul Ducklin with in-depth answers to the questions is available on Sophos Naked Security to find.

Dramatic changes are emerging in geopolitics: The war in Ukraine has global consequences, the rivalry between China and the USA is coming to a head, and Switzerland's role in Europe remains unresolved. Restrictive corona measures in individual regions of Asia and high inflation worldwide have also brought geopolitical risks into sharper focus. Swiss boards of directors are also concerned about all this. Nevertheless, only a few are taking concrete measures, as the latest swissVR Monitor, compiled by the swissVR Board of Directors Association, the consulting firm Deloitte and the Lucerne University of Applied Sciences and Arts, shows.

BoD committees anticipate high geopolitical risks

Geopolitics is fundamentally relevant for the export-oriented Swiss economy. This is because many companies are dependent on developments in international markets. The current uncertainties tend to reinforce the high importance: 59 percent of the surveyed board members assess the geopolitical risks for their own company in the next twelve months as high or even very high (see chart). At the same time, the economic outlook is becoming gloomier: Around one third of the 420 respondents expect a negative economic trend in the coming year.

Geopolitics: No overreactions in boards of directors

The vast majority (93%) state that their board of directors generally takes measures with regard to geopolitical risks. A good two-thirds of boards (69%) regularly discuss geopolitical developments, and more than one-third conduct scenario analyses (39%) or make strategy adjustments (35%). The fact that, on average, only two measures are taken per board committee shows that many boards are vigilant and keep an eye on geopolitical risks, but do not overreact in the face of uncertain developments or leave the planning of measures to management. "We are experiencing a turning point in time - not only in politics, but also in business. The changed geopolitical realities require a rethink in the management floors of many Swiss companies. It is imperative that politics be taken into account as a new central dimension in strategic decisions," says Reto Savoia, CEO Deloitte Switzerland.

Developments in geopolitics as a challenge and an opportunity

Almost all companies (98%) face challenges in view of current geopolitical developments: The availability and cost of raw materials and energy (50%) and supply chain disruption (48%) are most frequently cited. In contrast, three-quarters of the BoD members surveyed (77%) also see opportunities in geopolitical developments. These mainly include product and service innovations (34%) and greater cost and process efficiency (30%).

The increasing challenges on the global markets require greater commitment with regard to geopolitical risks. Christoph Lengwiler, a lecturer at the Lucerne University of Applied Sciences and Arts, warns, however, not to fall into actionism: "In crisis situations, there is a risk of operational hectic in the board of directors. However, strategic management should always have priority. The board must think in scenarios, evaluate options for action, and provide impetus. Concrete measures should then be initiated by the management."

Half of the companies directly affected by the Ukraine war

Despite regular exchanges about geopolitical developments, seven out of ten board members (71%) were surprised by the outbreak of war in Ukraine and its extensive economic consequences. Only just under one-fifth of the board members surveyed (19%) said that geopolitical risks in Eastern Europe and in connection with Russia had been addressed in risk assessments by their own board in recent years. Directly affected by Russia's attack on Ukraine this year, according to the survey, are about half of the companies (48%).
The war in Ukraine forced numerous companies to take a stand. This is likely to become increasingly necessary in the future: "Companies will be increasingly confronted with the need to position themselves. In order to be able to make a decision for or against a market, in-depth analyses and strategic decisions by the board of directors are necessary," Cornelia Ritz Bossicard, President of swissVR, is convinced.

Sources: swissVR / Deloitte AG / Lucerne University

Bike sharing has become commonplace in many places, and you've certainly seen them in various Swiss cities: Electric bikes or e-scooters in bright colors that can be used at train stations and other public places - usually via app - to get from A to B quickly. But often enough, these vehicles are parked somewhere after use, for example on sidewalks, in building entrances or elsewhere in public space. There they often become a nuisance for other road users or for residents. And they have to be collected again by the city bike providers at great expense.

Users' expectations of bike sharing are diverse: They want a vehicle that is quickly available and functional. And they want it where there is a need for it, i.e. not only at train stations but also, for example, at concert halls, sports stadiums or restaurants, so that they can get home quickly and safely from there. A study by the Norwegian University of Technology and Natural Sciences (NTNU) in Trondheim has therefore looked at how cities and bike-sharing providers can improve the service and also traffic management.

How to shoot at a moving target

Providing bicycles or e-scooters where and when people need them is a challenge. The problem is described as dynamic because it is constantly changing, and stochastic because it changes in random ways that are often difficult to predict. Steffen Bakker, a researcher at NTNU's Department of Industrial Economics and Technology Management, explains it as follows: "Users of the bike-sharing system pick up their bikes at one location and then take them to another location. Then the state of the system changes because suddenly the bikes are not where they were originally, that's the dynamic part," he said. "On top of that, you don't know when the customers will pick up the bikes and where they will leave them. That's the stochastic part. So if you want to plan at the beginning of the day, you don't know what's going to happen." It's like shooting at a moving target, he said. In other words, what's desired is a system that can make more accurate predictions about where and when there will be increased demand for bicycles and e-scooters. Bakker and his researcher colleagues have therefore developed an optimization model that makes recommendations to bike-sharing operators on how to dispatch bikes and scooters, as well as their service vehicles. The aim is to improve the process of so-called "rebalancing", i.e. collecting and transporting bikes from one parking station to another.

Assemble the parts correctly

The Norwegian researchers conducted a pilot test in Trondheim for this purpose. "With this, we want to use existing city bike systems as a test base and increase the efficiency of the rebalancing teams by 30 % and the lifetime of the bikes by 20 % by developing new decision support tools," said Jasmina Vele, project manager at Urban Sharing, the bike-sharing company involved in the research project. "This can be achieved through better rebalancing and preventive maintenance decisions, which will lead to a big cost reduction in existing urban bike systems." The optimization model, which is still in the development phase, can be used to communicate a new plan to service vehicle riders each time they arrive at a bike station.

That's the tricky part. It's important not to be too myopic and focus only on the current state of the system, Bakker says, especially if certain stations are expected to have more demand in the next hour or so. "It's very complex because it's a big system," he says. "Maybe in an hour there will be a big demand at the station. So you already want to get some bikes there. But at the same time, there may be stations that are almost empty now and need bikes. So you have to find a compromise."

Bike sharing modeling with digital twin

Bakker and his colleagues are working with NTNU's Department of Computer Science to create a "digital twin," or computer simulation of the systems. This allows them to test different models and try different approaches without having to test them in the real world. Initial tests have shown that the model created by the group can reduce the number of problems (i.e., either too few bikes in the location where the user wants one, or too many bikes so that the user cannot park his or her bike) by 41 % compared to not rebalancing.

The team around Steffen Bakker has also been working on a component of the optimization model called the criticality score. A criticality score is basically a score assigned to different bike share parking spaces based on the number of bikes they currently contain or require. These scores are relatively easy to calculate and can be provided to riders as they travel around the city to balance the number of bikes at each station. "It's a score that tells the service rider which station they should definitely go to," Bakker said. "It allows us to offer something that, while not the best, is probably good and much better than what bike-sharing companies currently have available." Urban Sharing's Jasmina Vele, then, confirms that using these types of optimization models can help make bike sharing an important part of urban transportation. "Urban Sharing's vision for future mobility is a transportation system that is responsive and adaptive. By using data and machine learning/optimization algorithms, we can combine the best of traditional and modern transportation systems to create a resource-efficient system that responds to demand and adapts to individual user needs," Vele said.

The research paper was published in the European Journal of Operational Research. Source: Techexplore.com