Understand

Artificial Intelligence is already here. It's being used in products and services you already use, and is working behind the scenes in medicine, transportation, robotics, science, education, the military, surveillance, finance , agriculture, entertainment, retail, customer service, and manufacturing. How is is AI being used in these sectors, and for what purpose? And with the release of chatbots t...

Artificial Intelligence has been in the news constantly this year, from a chatbot that can write anything you can imagine, in any style, to scientists and world leaders warning that AI needs to be controlled. With the big tech firms all rushing to make their AI products available to the public, it looks like AI is likely to be part of our lives from now on. But what is it? What are the different t...

Big data is vast, unwieldy information that is so huge that normal software traditionally used to analyse it just can't cope. It's not new. Ever since humans organised ourselves, we've been keeping records, and gathering information, from scrolls, to bank ledgers and now your internet browsing history. But his information is now flowing into organisations at a faster rate and in greater volume tha...

You might be wary of using digital currencies, but you probably already do. Salaries, benefits and pensions are now paid direct to banks, and when you buy a coffee, you may well use a contactless card to pay, without a flutter of a 5 pound note in sight. So what are online cryptocurrencies like Bitcoin, and why won't some people touch those with a barge pole? And when you hear about them, another...

Just by putting on a headset, Virtual Reality promises to immerse you in another world, and Augmented Reality takes that world and brings it into your living room. How do they work? It's a type of technology that seems to have been "the next big thing" for at least a decade. But are they just expensive toys, or do they have a use beyond gaming? In a similar vein, you may have seen adverts for the...

We all get that sinking feeling when we accidentally delete a valuable photo or document, but there's now a good chance you can find a backup copy - thanks to the Cloud. Cloud computing has drifted into our lives without many people even realising - apart from those irritating emails, offering to sell you ever greater amounts of storage space. Some laptops now have very little memory built-in, and...

You're probably reading this on a device connected to the internet, while listening to this episode. But how did the digital files that make up this description, and the digital sound files that you can hear, appear, on demand, on your phone, tablet or other device? How are you connected to the internet? In this episode, we'll explain how 4G and 5G, work, Broadband through cables and satellites, a...

Do you know your Blockchain from your Bitcoin, or your Virtual reality from your Augmented Reality? Are you clueless about AI but are worried it might take your job? If so, you’ve come to the right place. Welcome to Understand: Tech and AI. The pace of change in technology is daunting - and new developments are happening all the time. Artificial Intelligence has exploded into the public consciousn...

The rising cost of living really brought home how those big, global economic shocks can mean some pretty bad bumps for our individual finances. Probably the most obvious, immediate and, painful way that global economic events hit our household budgets is through the price of energy. In 2022 we saw our bills almost double - causing the government to step in and guarantee energy prices, with the Tre...

The cost of living crisis is putting more pressure on more people - but what happens when that pressure becomes too much, and is bankruptcy always a bad thing? Professor Diane Coyle explains the processes and wider economic impact of bankruptcy, and Dr Victoria Bateman takes us back to the very beginning of the idea in the time of Henry VIII. Everything you need to know about the economy and what...

Politicians talk about government debt a lot. When Prime Minister Rishi Sunak promised to tackle Britain's five most pressing problems, he included making sure our debt was falling. But what is the debt? In this episode Dr Gemma Tetlow explains why we have the debt at all, how much we owe, who we owe it to, and whether we should worry about it. Plus Dr Victoria Bateman takes us back in time to hea...

Collectively, our individual financial decisions have a big impact on what the wider economy does. That includes how we manage our own money, including what we buy and how we buy it. One way we make large purchases, smooth out big bills and sometimes just spend some cash we can’t afford - is credit. In this episode Dr Victoria Bateman looks back to the Tallyman in the 19th century, a very early wa...

On one hand, we’ve all experienced the things we buy getting more expensive, from the price of fuel to a tub of butter. On the other hand, retailers desperately try to entice us to buy with discounts. Shops seem to constantly have their ‘best ever’ sales and there are days like ‘Black Friday’ when prices are slashed. How can prices go up and up, and at the same time drop? In this episode, Felicity...

Why are the rich, rich and the poor, poor, and was it always this way? Tim Harford explains what’s happened to inequality over the last 100 years in the UK and why things might be better than you think. Economic historian Victoria Bateman explains the surprising effect The Great Plague had on income and gender equality. Everything you need to know about the economy and what it means for you. This...

The reason we can eat pineapples and sell aeroplane parts. But why might the value of the pound fall and what does that mean if it does? Tim Harford explains who wins and who loses if the pound is cheap against the dollar and economic historian Victoria Bateman tells the story of a trade deal with Portugal that flooded England with wine and Port. Everything you need to know about the economy and w...

Why is it so hard to save for retirement? Will future generations even get a pension? Why is the pension age rising and what is the state pension age? Tim Harford explains the problem an aging population is causing for the state pension and explores the gender pension gap. Economic historian Victoria Bateman tells the story of the very first pensions in the UK. Everything you need to know about th...

What happens when lots of people lose their jobs? Why might wages be low even though everyone who wants a job, has one? What do we mean by employment and unemployment and what does 'economic inactivity' mean? What is productivity and how does it relate to you and your job? Tim Harford explains, and Cambridge University Economic Historian Victoria Bateman tells the story of what happened when unemp...

What is a recession and what causes a recession? Whether something suddenly makes you poorer or just makes you worry about becoming poorer, when you cut your spending in the shops, this affects other people and ripples through the economy. Tim Harford explains the role a government can play in pulling a country out of a recession and Cambridge University Economic Historian Victoria Bateman tells t...

What are banks and what do they do with our money? Tim Harford explains where your money goes when you put it in a bank account and reveals that your bank might actually be a shadow bank. Economic historian Victoria Bateman tells the story of Priscilla Wakefield, one of Britain's forgotten female economists, who created the first saving bank for working-class women in a Tottenham grammar school. E...

Who lends the government money and why? And what exactly does the stock market do? All those people in the movies shouting at the screens are buying and selling something, but what? Tim Harford explains why government debt isn’t always a bad thing and why the prices agreed in a room in London affect the prices you pay for petrol and food. Economic Historian Victoria Bateman tells the story of the...

What is economic growth, and what happens if there isn’t any? And what does that GDP figure stand for? Tim Harford explains how and why we measure everything. If the economy stops growing, that could mean things like job cuts, so measuring what’s going on is crucial. In this episode Tim Harford explains how the economy is measured and what is missed out. Economic historian Victoria Bateman tells u...

Why does the interest you pay on your credit card or your mortgage rate go up and down? What’s the Bank of England got to do with it all? In this episode, Tim Harford explains why the banks need to charge you interest when you borrow money and explains why the Bank of England might put interest rates up. Economic historian Victoria Bateman tells us why the Bank of England first lent money to the g...

What is inflation, why does it matter, and is someone to blame if it goes up? Understanding inflation will help you understand why your shopping is getting more and more expensive and why prices rarely seem to come down. Tim Harford explains why the inflation figure you see on the TV might not reflect the price rises you’re experiencing and economic historian Victoria Bateman tells us why having a...

Everything you need to know about the economy and what it means for you. This podcast will cut through the jargon to bring you clarity and ensure you finally understand all those complicated terms and phrases you hear on the news. Inflation, GDP, Interest rates, and bonds, Tim Harford and friends explain them all. We’ll ensure you understand what’s going on today, why your shopping is getting more...