Page 82 - BFSI CHRONICLE 3092022.indd

BFSI Chronicle, 11 Edition September2022
th

References
conclusions based on their attributes, without looking
more broadly at the whole dataset, including those • Casselman, B. (2016). AMS :: Feature Column: The Legend of Abraham
with similar characteristics that failed to perform as Wald. 9.
well. • Cicero, M. T. (45 C.E.). The Nature of Good (De Natura Deorum).
• Deloitte. (2016). Digital Media: Rise of On deman Content (p. 38).
The algorithms can transform the customized and Deloitte.
personal social media feeds into proverbial echo • Deloitte. (2022). Technology, Media, and Telecommunications
chambers that accentuate the already perceived Predictions 2022 (p. 150).
notions of successes & failures in investing/risk/ • Dukurs, G. (2022, August 2). How The Pandemic Has Reshaped
return and drift the user towards unregulated assets The Creator Economy [News/Media]. How The Pandemic Has
akin to the Ponzi schemes of yesteryears, but rather Reshaped The Creator Economy. https://www.forbes.com/sites/
than physical assets, the trend now is in the digital forbestechcouncil/2022/02/08/how-the-pandemic-has-reshaped-the-
space (read cryto, NFT). creator-economy/?sh=41d6849110f6
• Günther, M. K., & Ghosh, S. (2018). Deciphering Financial Literacy
W C Fields said- A thing worth having, is a thing worth in India. 13, 12.
cheating for. The same data & ICT (Information, • Khosla, V. (2022, August 30). [News/Media]. Financial Literacy
Communication and Technology) tools are a dou- Discussions Rise 185%, Says Twitter. https://www.livemint.com/
ble-edged sword- what’s available to the individual politics/policy/financial-literacy-discussions-rise-185-says-twit-
for learning new skills, accessing new information and ter-11661797597012.html
comparing new financial products, is also available • OECD. (2012). Literacy, Numeracy and Problem Solving in
to the marketeers of the products for “influencing” Technology-Rich Environments: Framework for the OECD Survey
the prospect. In addition, displays of information in of Adult Skills. OECD. https://doi.org/10.1787/9789264128859-en
ICT with multimodal aspects of computer environ- • Ramadorai, Prof. T. (2017). Report of the Household Finance
ments mean that information is no longer presented Committee. RBI. https://rbidocs.rbi.org.in/rdocs/PublicationReport/
in printed texts and graphics but, increasingly, in the Pdfs/HFCRA28D0415E2144A009112DD314ECF5C07.PDF
form of animation, audio and motion video (OECD, • RBI. (2021). NSFE 2020-25 (National Strategy for Financial Education
2012), which makes the consumption rapid, albeit 2020-25). RBI. https://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/
without nuance, and the shareability quick. NSFE202020251BD2A32E39F74D328239740D4C93980D.PDF
• Shermer, M. (2014). Surviving Statistics. Scientific American, 311(3),
Advances in Internet technologies in general and 94–94. https://doi.org/10.1038/scientificamerican0914-94
social media in particular have led to proliferation
of content creation and sharing platforms. These P icture Credit
platforms have democratized content creation and as • Illustration of hypothetical damage pattern on a WW2
a result of that, there is plenty of information on any bomber. Based on a not-illustrated report by Abraham
topic coming from a wide range of sources. Wald (1943), picture concept by Cameron Moll (2005,
claimed on Twitter and credited by Mother Jones), new
Information can be beacon, a cudgel, an enabler, a version by McGeddon based on a Lockheed PV-1 Ventura
deterrent - depending who wields it, in what form drawing (2016), vector file by Martin Grandjean (2021).
and to what end. The onus, thus, is on content con-
sumer to determine the quality of the information
and credibility of the sources. The more knowledge
technology allows us to access, see, store and share,
the more important it is to develop the necessary
cognitive skills and understanding along with the
capacity to grasp, analyze and estimate to make sense
out of the content shown.

The Institute Of Cost Accountants Of India

82