Would you pay $700 a night to sleep under the stars at this Colorado resort?How to get started with BlueskyShare Tweet Share Share Email Himanshu Sinha is a globally recognized thought leader in AI and data science, currently serving as the Director of Advanced Data Science at Marriott International. An AI innovator with deep-learning based patent to his name and a published author of the best-selling book “Cognitive Horizons: Navigating the Landscape of Artificial Intelligence” His book is widely adopted by educational institutions to guide data science capabilities and inspire the next generation of AI practitioners. As a foundational contributor to machine learning and AI research, Himanshu has published extensively in internationally acclaimed journals , pushing the boundaries of innovation. With over 18 years of experience, Himanshu has led data science capabilities at organizations like CVS, Precisely, and Wipro, delivering transformative results across industries. Currently, he is driving AI-powered innovation in the hospitality sector, redefining customer experiences at Marriott International. Himanshu’s respected record of using data, analytics, and AI to deliver significant business impact is complemented by his role as an advisor and coach to executives, boards, and data leaders. His visionary leadership continues to transform organizations and inspire the global AI community. Himanshu Sinha Please tell us your name and a little more about yourself. My name is Himanshu Sinha, and I am a data scientist with over 15 years of experience in leveraging machine learning and AI to drive transformative change across industries. From fintech to healthcare and hospitality, I have had the privilege of developing and deploying innovative AI solutions that blend technical excellence with business strategy. My expertise spans a wide range of areas, including generative AI, predictive analytics, and data observability. Beyond my technical work, I am a passionate mentor, a published co-author of books on AI and ML, and a patented innovator. I thrive on building solutions that not only solve complex problems but also inspire others to push the boundaries of what technology can achieve. You’ve had an extraordinary career in AI and machine learning, spanning various industries like healthcare, hospitality, and fintech. Can you walk us through your journey and how it has shaped your current role as Director of Advanced Data Science at Marriott International? I began my professional journey in consumer-focused research for a CPG brand, here I developed a fascination for consumer behaviour change indicated through and their business implications . This passion deepened as I worked on leveraging state-of-the-art machine learning techniques to analyze behavioral changes and their impact on business outcomes. My focus has always been on helping organizations use patterns in data to inform strategy and drive results. Working in large scale consulting such as Wipro brought me close to enterprises’s pain areas and help create machine learning cored solutions for them. In 2012, I established a Center of Excellence for analytics at Agilis, a lesser-known company at the time, helping telecom clients predict fraud and mitigate risks like churn. Over the years, Agilis went through multiple acquisitions, becoming Infogix and later Precisely Inc. During this period, I led the development of a bespoke software product with an embedded ML-based ‘Anomaly Detection’ system. This solution predicts ‘data drift and shift’, ensuring data quality and integrity. Today, it’s a multimillion-dollar offering used by Fortune 100 companies to maintain operational excellence of data dependent functions. Currently, as the Director of Advanced Data Science at Marriott International, I lead transformative AI initiatives, including personalization models, generative AI applications, and global acquisition strategies. My journey has been about building scalable AI solutions that align technical innovation with business impact, and I continue to be inspired by the limitless potential of machine learning and AI to transform industries. In your article, “The Ultimate Blueprint for Enterprise Chatbots: Simplify, Scale, Succeed”, you discuss the challenges of fragmented chatbot strategies. What inspired you to advocate for a unified chatbot framework, and how do you see it transforming industries? The inspiration came from witnessing the inefficiencies and frustrations caused by fragmented chatbot strategies in enterprises—siloed implementations, inconsistent user experiences, and high maintenance costs. I realized the need for a unified framework that could streamline development, ensure scalability, and provide a seamless experience across touchpoints. A unified chatbot framework transforms industries by enabling businesses to deliver consistent, personalized interactions while reducing operational overhead. It empowers enterprises to integrate. Enterprises often face the dilemma of balancing ROI with the complexity of AI solutions. How do you approach this challenge in your projects, and can you share a specific example where you had to make such decisions? Balancing ROI with AI complexity is a common challenge, but I approach it by focusing on simplification and scalability without compromising value. In my article, The Ultimate Blueprint for Enterprise Chatbots: Simplify, Scale, Succeed , I discussed how fragmented chatbot strategies often create inefficiencies and diminish user satisfaction. To address this, I advocate for a unified framework that prioritizes intent-driven design and reusable components. A specific example is a chatbot project for a travel enterprise. Initially, individual bots were handling separate use cases like booking management, trip planning, and customer support, leading to redundancy and confusion. By implementing a unified triage bot as the primary entry point, we streamlined user interactions and routed intents to specialized APIs. This reduced operational complexity and boosted ROI by consolidating efforts into a cohesive system. The result? Enhanced user satisfaction and scalable deployment across multiple business units—all while maintaining a strong ROI through reduced maintenance costs and improved efficiency. Simplifying complexity is not just about technology—it’s about creating value for both users and businesses. Your work highlights generative AI’s role in creating personalized user experiences, such as credit card recommendations. How do you envision the future of generative AI in personalization across industries? Generative AI is revolutionizing personalization by creating tailored, intuitive experiences that resonate with individual users. In the context of chatbots, like those for credit card recommendations, generative AI plays a pivotal role in breaking decision paralysis. It simplifies complex choices by presenting relevant options in a conversational and engaging way, helping customers make faster and more confident decisions. Looking ahead, I envision generative AI expanding its influence across industries—from retail to healthcare—where it will not only personalize user interactions but also anticipate needs, provide proactive solutions, and streamline decision-making. The future of personalization lies in AI’s ability to combine deep contextual understanding with dynamic adaptability, ultimately creating experiences that are both efficient and deeply human-centered. You’ve authored books, published scholarly articles, and filed patents in advanced AI domains. How do you balance your role as a technical leader and a thought leader in the ever-evolving field of AI? Balancing my roles as a technical and thought leader in AI comes down to a shared foundation: curiosity , giving back to learners community and a commitment to impact. As a technical leader, I focus on driving practical innovations—building systems like scalable enterprise chatbots or anomaly detection frameworks that solve real business problems. This hands-on work keeps me connected to the evolving challenges and opportunities in AI. As a thought leader, I view my role as amplifying these learnings for a broader audience. Writing articles on social blogs like “The Ultimate Blueprint for Enterprise Chatbots” allows me to distill complex ideas into actionable strategies, fostering industry-wide collaboration and growth. It’s a synergy—my technical work feeds my thought leadership, while my engagement with the AI community sharpens my ability to lead in dynamic environments. Ultimately, the key is staying grounded in purpose: using AI not just to innovate, but to inspire and drive meaningful change. Many of your projects aim to enhance customer experience through AI, like anomaly detection and marketing optimization. How do you align technical innovation with customer-centric outcomes? I believe the key to aligning technical innovation with customer-centric outcomes is to start with the end in mind—understanding what the customer truly values. Whether it’s anomaly detection, marketing optimization, or enterprise chatbots, my approach combines cutting-edge AI techniques with a deep focus on creating seamless and meaningful experiences for users. For instance, in my article “ The Ultimate Blueprint for Enterprise Chatbots: Simplify, Scale, Succeed ,” I emphasized building unified frameworks that deliver consistent, personalized customer interactions. Similarly, my work on marketing optimization involves leveraging predictive models to understand behavioral patterns, enabling hyper-targeted engagement that feels intuitive to the customer. At the core, it’s about using AI as a bridge—not just to solve technical problems but to anticipate and enhance the customer journey. By embedding intelligence into every interaction, we not only drive business impact but also create solutions that resonate with people in real and tangible ways. With increasing emphasis on data privacy regulations like GDPR and CCPA, how do you ensure that your AI models remain compliant while delivering actionable insights? Ensuring compliance with data privacy regulations like GDPR and CCPA starts with embedding guardrails into the design and deployment of AI models. Guardrails ensure that privacy, security, and transparency are foundational, not an afterthought. In my work, I advocate for privacy-by-design principles—data minimization, anonymization, and secure pipelines are non-negotiables. For instance, when building models for personalized customer targeting or chatbots, we ensure that data used is aggregated and anonymized, aligning with both regulations and user trust. Balancing compliance with actionable insights requires robust governance frameworks. These frameworks monitor data usage and provide explainability, ensuring that while insights drive business value, they do so ethically and legally. In the age of AI, it’s not just about what we can do with data, but what we should do, and that’s where compliance meets innovation. As an internationally recognized expert, what advice would you give aspiring data scientists looking to make a significant impact in the field of AI and machine learning? My advice to aspiring data scientists is simple: focus on solving practical problems and always prioritize the user experience. AI and machine learning aren’t just about building sophisticated models—they’re about creating solutions that make a tangible difference. Start by immersing yourself in real-world challenges. Learn how businesses operate, identify pain points, and think about how data and AI can address them. For instance, in my own journey, I’ve worked on everything from predictive analytics to creating a unified chatbot framework. These experiences taught me that the best solutions are the ones that simplify complexity and put the user first. Stay curious, keep experimenting, and don’t shy away from asking questions like: “How does this impact the end user?” and “Is this scalable for enterprise needs?” A data scientist’s true power lies not just in technical expertise but in the ability to translate it into meaningful impact. Keep that as your north star, and you’ll create solutions that truly transform industries. Related Items: AI , AI Visionary , Generative AI , Himanshu Sinha , Industry Leader , machine learning Share Tweet Share Share Email Recommended for you AdTech Innovation Boosting Publisher Revenue: Interview with Mykyta Plastomak on Pubcircle’s AI-Driven AdTech Innovations and Global Growth Strategy. Nikhil Purwaha on the Future of AI-Powered Fraud Prevention and Scam Reduction Broker Complaint Alert Introduces AI-Driven Solutions to Revolutionize Crypto Recovery and Enhance Investor Protection Comments
Three Greenspoon Marder Lawyers Bolster Southeast Presence MIAMI , Dec. 12, 2024 /PRNewswire/ -- Ice Miller is pleased to announce the addition of esteemed international transactional lawyers Jon Lyman and Gai Sher to help launch the firm's new Miami office . Bringing 30 years of experience counseling corporate and financial institution clients on all manner of deals, often involving cross-border transactions, Miami -based Lyman reinforces Ice Miller's strong transactional roster on both a regional and international scale, while Sher concentrates her practice on representing and providing legal counsel to startups, emerging growth companies, brands, creators, and executives in media, technology, and consumer products in all aspects of commercial transactions. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Would you pay $700 a night to sleep under the stars at this Colorado resort?
Eagles QB Tanner McKee gets 1st career TD football back with a little help from fans in the standsATLANTA — Jimmy Carter, the peanut farmer who won the presidency in the wake of the Watergate scandal and Vietnam War, endured humbling defeat after one tumultuous term and then redefined life after the White House as a global humanitarian, has died. He was 100 years old. In this Nov. 3, 2019, file photo, former President Jimmy Carter teaches Sunday school at Maranatha Baptist Church in Plains, Ga. The longest-lived American president died on Sunday, more than a year after entering hospice care, at his home in the small town of Plains, Georgia, where he and his wife, Rosalynn, who died at 96 in November 2023, spent most of their lives, The Carter Center said. Businessman, Navy officer, evangelist, politician, negotiator, author, woodworker, citizen of the world — Carter forged a path that still challenges political assumptions and stands out among the 45 men who reached the nation’s highest office. The 39th president leveraged his ambition with a keen intellect, deep religious faith and prodigious work ethic, conducting diplomatic missions into his 80s and building houses for the poor well into his 90s. “My faith demands — this is not optional — my faith demands that I do whatever I can, wherever I am, whenever I can, for as long as I can, with whatever I have to try to make a difference,” Carter once said. A moderate Democrat, Carter entered the 1976 presidential race as a little-known Georgia governor with a broad smile, outspoken Baptist mores and technocratic plans reflecting his education as an engineer. His no-frills campaign depended on public financing, and his promise not to deceive the American people resonated after Richard Nixon’s disgrace and U.S. defeat in southeast Asia. “If I ever lie to you, if I ever make a misleading statement, don’t vote for me. I would not deserve to be your president,” Carter repeated before narrowly beating Republican incumbent Gerald Ford, who had lost popularity pardoning Nixon. Carter governed amid Cold War pressures, turbulent oil markets and social upheaval over racism, women’s rights and America’s global role. His most acclaimed achievement in office was a Mideast peace deal that he brokered by keeping Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin at the bargaining table for 13 days in 1978. That Camp David experience inspired the post-presidential center where Carter would establish so much of his legacy. Yet Carter’s electoral coalition splintered under double-digit inflation, gasoline lines and the 444-day hostage crisis in Iran. His bleakest hour came when eight Americans died in a failed hostage rescue in April 1980, helping to ensure his landslide defeat to Republican Ronald Reagan. Carter acknowledged in his 2020 “White House Diary” that he could be “micromanaging” and “excessively autocratic,” complicating dealings with Congress and the federal bureaucracy. He also turned a cold shoulder to Washington’s news media and lobbyists, not fully appreciating their influence on his political fortunes. “It didn’t take us long to realize that the underestimation existed, but by that time we were not able to repair the mistake,” Carter told historians in 1982, suggesting that he had “an inherent incompatibility” with Washington insiders. Carter insisted his overall approach was sound and that he achieved his primary objectives — to “protect our nation’s security and interests peacefully” and “enhance human rights here and abroad” — even if he fell spectacularly short of a second term. Ignominious defeat, though, allowed for renewal. The Carters founded The Carter Center in 1982 as a first-of-its-kind base of operations, asserting themselves as international peacemakers and champions of democracy, public health and human rights. “I was not interested in just building a museum or storing my White House records and memorabilia,” Carter wrote in a memoir published after his 90th birthday. “I wanted a place where we could work.” That work included easing nuclear tensions in North and South Korea, helping to avert a U.S. invasion of Haiti and negotiating cease-fires in Bosnia and Sudan. By 2022, The Carter Center had declared at least 113 elections in Latin America, Asia and Africa to be free or fraudulent. Recently, the center began monitoring U.S. elections as well. Carter’s stubborn self-assuredness and even self-righteousness proved effective once he was unencumbered by the Washington order, sometimes to the point of frustrating his successors. He went “where others are not treading,” he said, to places like Ethiopia, Liberia and North Korea, where he secured the release of an American who had wandered across the border in 2010. “I can say what I like. I can meet whom I want. I can take on projects that please me and reject the ones that don’t,” Carter said. He announced an arms-reduction-for-aid deal with North Korea without clearing the details with Bill Clinton’s White House. He openly criticized President George W. Bush for the 2003 invasion of Iraq. He also criticized America’s approach to Israel with his 2006 book “Palestine: Peace Not Apartheid.” And he repeatedly countered U.S. administrations by insisting North Korea should be included in international affairs, a position that most aligned Carter with Republican President Donald Trump. Among the center’s many public health initiatives, Carter vowed to eradicate the guinea worm parasite during his lifetime, and nearly achieved it: Cases dropped from millions in the 1980s to nearly a handful. With hardhats and hammers, the Carters also built homes with Habitat for Humanity. The Nobel committee’s 2002 Peace Prize cites his “untiring effort to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development.” Carter should have won it alongside Sadat and Begin in 1978, the chairman added. Carter accepted the recognition saying there was more work to be done. “The world is now, in many ways, a more dangerous place,” he said. “The greater ease of travel and communication has not been matched by equal understanding and mutual respect.” ‘An epic American life’ Carter’s globetrotting took him to remote villages where he met little “Jimmy Carters,” so named by admiring parents. But he spent most of his days in the same one-story Plains house — expanded and guarded by Secret Service agents — where they lived before he became governor. He regularly taught Sunday School lessons at Maranatha Baptist Church until his mobility declined and the coronavirus pandemic raged. Those sessions drew visitors from around the world to the small sanctuary where Carter will receive his final send-off after a state funeral at Washington’s National Cathedral. The common assessment that he was a better ex-president than president rankled Carter and his allies. His prolific post-presidency gave him a brand above politics, particularly for Americans too young to witness him in office. But Carter also lived long enough to see biographers and historians reassess his White House years more generously. His record includes the deregulation of key industries, reduction of U.S. dependence on foreign oil, cautious management of the national debt and notable legislation on the environment, education and mental health. He focused on human rights in foreign policy, pressuring dictators to release thousands of political prisoners. He acknowledged America’s historical imperialism, pardoned Vietnam War draft evaders and relinquished control of the Panama Canal. He normalized relations with China. “I am not nominating Jimmy Carter for a place on Mount Rushmore,” Stuart Eizenstat, Carter’s domestic policy director, wrote in a 2018 book. “He was not a great president” but also not the “hapless and weak” caricature voters rejected in 1980, Eizenstat said. Rather, Carter was “good and productive” and “delivered results, many of which were realized only after he left office.” Madeleine Albright, a national security staffer for Carter and Clinton’s secretary of state, wrote in Eizenstat’s forward that Carter was “consequential and successful” and expressed hope that “perceptions will continue to evolve” about his presidency. “Our country was lucky to have him as our leader,” said Albright, who died in 2022. Jonathan Alter, who penned a comprehensive Carter biography published in 2020, said in an interview that Carter should be remembered for “an epic American life” spanning from a humble start in a home with no electricity or indoor plumbing through decades on the world stage across two centuries. “He will likely go down as one of the most misunderstood and underestimated figures in American history,” Alter told The Associated Press. Jimmy Carter is shown at age 6, with his sister, Gloria, 4, in 1931 in Plains, Georgia. (AP Photo) This is a 1932 photo of Jimmy Carter at age 7 in Plains, Ga. (AP Photo) Lt. Jimmy Carter peers at instruments on submarine USS K-1 in a 1952 photo. Directly in front of Carter, smoking a cigar, is Don Dickson. He had forgotten he ever served with Carter until he came upon the photo during Christmas, 1977. A friend got it to the White House where Carter wrote: "To my friend Donald Dickson - Jimmy Carter, USS K-1 to White House." (AP Photo) FILE - In this Sept. 15, 1966 file photo, then Georgia State Sen. Jimmy Carter hugs his wife, Rosalynn, at his Atlanta campaign headquarters. Jimmy Carter, winner in Georgia's runoff primary in the Democratic Party to determine the party's candidate for the November election for governor, 1970. (AP Photo) Former State Sen. Jimmy Carter listens to applause at the Capitol in Atlanta on April 3, 1970, after announcing his candidacy or governor. In background, his wife Rosalyn holds two-year-old daughter Amy who joined in the applause. Carter, 45, of Plains, Ga., finished third in the 1966 Democratic Primary behind Gov. Lester Maddox and Ellis Arnall. (AP Photo/Charles Kelly) Democratic gubernatorial nominee Jimmy Carter and his wife Rosalynn clutch the microphones as he claims victory in a runoff election at campaign headquarters in Atlanta, Georgia, September 24, 1970. Carter beat former Georgia Governor Carl Sanders for the nomination and will face Republican candidate Hal Suit, veteran television newsman, in the general election Nov. 3, 1970. (AP Photo/Charles Kelly) Former state Sen. Jimmy Carter breaks into a broad smile after early returns gave him a lead of almost 2-1 in the Democratic runoff against former Gov. Carl Sanders, Sept. 23, 1970, in Atlanta, Ga. The winner will meet the Republic Hal Suit for the governorship of Georgia on the Nov. 3 general election. (AP Photo/Charles Kelly) Governor-elect Jimmy Carter and his daughter Amy, 3, walk about the grounds by the fountain at the Governor's Mansion in Atlanta, Ga., Jan. 10, 1971, as they get to know the place where they will live for the next four years. Carter will be sworn in as governor of Georgia Tuesday. (AP Photo) Judge Robert H. Jordan administers the oath of office to Gov. Jimmy Carter during ceremonies at the state capitol in Atlanta. Ga., Jan. 12, 1971. Next to the judge is former Gov. Lester Maddox, who will take over as lieutenant governer of Georgia. (AP Photo) Jimmy Carter of Georgia, seen here Feb. 6, 1971, already described as a symbol of a new breed of moderate southern politician, says that the race question has ceased to be a major issue "between or among candidates" running for office in the old confederacy. (AP Photo) Jimmy Carter, Governor of Georgia, is shown at his desk in Atlanta, on February 19, 1971. (AP Photo) Georgia's Gov. Jimmy Carter reaches for pen February 25, 1972 to sign a Georgia Senate House resolution opposing forced busing to achieve integration in the classrooms of the United States. Georgia Gov. Jimmy Carter joins a half-dozen Rockettes in a high kick, September 21, 1973, at Radio City Music Hall in New York, while visiting backstage before an afternoon performance. Carter is in New York to induce the film industry to make pictures in his state. (AP Photo/stf) Georgia Gov. Jimmy Carter, right, and Delaware Gov. Sherman Tribbitt say hello to Atlanta Braves Hank Aaron, left, following a rain canceled game with the Los Angeles Dodgers, Thursday, Sept. 27, 1973, Atlanta, Ga. The cancellation slowed Aaron’s opportunity to tie or break Babe Ruth’s home run record. (AP Photo) Georgia Gov. Jimmy Carter spoke to 18,000 messengers to the Southern Baptist Convention on Thursday, June 13, 1974 in Dallas, Texas. He urged Baptists to use their personal and political influence to return the nation to ideals of stronger commitment and higher ethics. He said "there is no natural division between a man's Christian life and his political life." (AP Photo/Greg Smith) Georgia Gov. Jimmy Carter tells a gathering, Saturday, Oct. 5, 1974 at the National Press Club in Washington about his ideas concerning energy conservation. (AP Photo) In this Thursday, Aug. 14, 1975 file photo, former Georgia Gov. Jimmy Carter announces in Washington that he qualified for federal matching funds to help finance his campaign for the 1976 Democratic presidential nomination. Former Georgia Gov. Jimmy Carter, right, drew about 5,000 people to Youngstown's Federal Plaza in Youngstown, Ohio, in his quest for support in Tuesday's Ohio Democratic primary, June 7, 1976. The presidential hopeful waded into the crowd, shaking hands and signing autographs. Carter, speaking to the largest crowd to assemble during his Ohio campaign, said 1976 would be a Democratic year because of the Watergate aftermath and other national ills. (AP Photo) In this Monday, Aug. 23, 1976 file photo, Democratic presidential candidate Jimmy Carter gives an informal press conference in Los Angeles during a campaign tour through the West and Midwest. On Wednesday, Aug. 12, 2015. (AP Photo) Democratic Presidential nominee Jimmy Carter, left, eats some freshly roasted barbecue chicken with his brother Billy Carter at Billy's gas station, Sept 11, 1976, Plains, Ga. The nominee had returned the night before from a week of campaigning, and planned to hold an impromptu press conference at the gas station. (AP Photo/Jeff Taylor) Democratic presidential nominee, Jimmy Carter, is all smiles as he talks with his brother Billy at the Carter Family Peanut warehouse, September 18, 1976. (AP Photo) Jimmy Carter stands in a large mound of peanuts at the Carter Peanut Warehouse in Plains, Ga., September 22, 1976. The Democratic party presidential nominee took an early morning walk through the warehouse to inspect some of the harvest. (AP Photo) FILE - In this Oct. 6, 1976 file photo with his wife Rosalynn Carter looking on at center, Democratic presidential candidate Jimmy Carter, center left, shakes hands with President Gerald Ford at the conclusion of their debate at the Palace of Fine Arts Theater in San Francisco, Calif. (AP Photo, File) Jimmy Carter, Democratic candidate for president, is joined by his daughter, Amy, as he waves from the rostrum at Fort Worth Convention Center, Texas, Sunday, Nov. 1, 1976. Carter and his family have been campaigning Texas, making a last minute bid for the state's 26 electoral votes. The others are not identified. (AP Photo) U.S. President-elect Jimmy Carter waves to supporters as he is surrounded by family members at a hotel in Atlanta, Ga., on Nov. 3, 1976. Carter won the presidential election by 297 electoral votes to 241 for Ford. Standing next to him is his wife, Rosalynn, and their daughter Amy Lynn, far right. The others are unidentified. (AP Photo) President-elect Jimmy Carter and his wife Rosalynn wipe tears from their eyes after returning to their home town in Plains, Ga., Nov. 3, 1976. The Carter family was greeted by local residents after returning from Atlanta. (AP Photo) President-elect Jimmy Carter leans over to shake hands with some of the people riding the "Peanut Special" to Washington D.C., Jan. 19, 1977. They will travel all night, arriving in Washington in time for Carter's inauguration as President tomorrow. (AP Photo) Jimmy Carter takes the oath of office as the nation's 39th president during inauguration ceremonies in Washington, D.C., on Jan. 20, 1977. Carter's wife, Rosalynn, holds the Bible used in the first inauguration by George Washington as U.S. Chief Justice Warren Burger administers the oath. Looking on at left are, Happy Rockefeller, Betty Ford, Joan Mondale, Amy Carter, and outgoing President Gerald Ford. Behind Carter is Vice President Walter Mondale. At far right is former Vice President Nelson Rockefeller. (AP Photo) Rosalynn Carter, left, looks up at her husband Jimmy Carter as he takes the oath of office as the 39th President of the United States at the Capitol, Thursday, Jan. 20, 1977, Washington, D.C. Mrs. Carter held a family Bible for her husband. (AP Photo) Jimmy Carter and first lady Rosalynn Carter walk down Pennsylvania Avenue after Carter was sworn in as the nations 39th President, Jan. 20, 1977, Washington, D.C. (AP Photo) FILE - In this Thursday, Jan. 20, 1977 file photo, President Jimmy Carter waves to the crowd while walking with his wife, Rosalynn, and their daughter, Amy, along Pennsylvania Avenue from the Capitol to the White House following his inauguration in Washington. (AP Photo/Suzanne Vlamis) In this Jan. 24, 1977 file photo, President Jimmy Carter is interviewed in the Oval Office of the White House in Washington. In this file photo dated May 1977, U.S. President Jimmy Carter, right, and Britain's Queen Elizabeth II with French President Valery Giscard d'Estaing, at Buckingham Palace in London. In this Feb. 20, 1978, file photo, President Jimmy Carter listens to Sen. Joseph R. Biden, D-Del., as they wait to speak at fund raising reception at Padua Academy in Wilmington, Del. (AP Photo/Barry Thumma, File) President Jimmy Carter tucks his thumbs into his jeans and laughs as he prepares to head down the Salmon River in Idaho August 1978 for a three day rubber raft float. (AP Photo) United States President Jimmy Carter, on a visit to West Germany in 1978, rides with Chancellor Helmut Schmidt during a review of United States Forces at a base near Frankfurt. (AP Photo) Egyptian President Anwar Sadat, left, U.S. President Jimmy Carter, center, and Israeli Prime Minister Menachem Begin clasp hands on the north lawn of the White House after signing the peace treaty between Egypt and Israel on March 26, 1979. (AP Photo/ Bob Daugherty) President Jimmy Carter, left, and Soviet President Leonid Brezhnev, right, sign the documents of the SALT II Treaty in the Vienna Imperial Hofburg Palace, Monday, June 18, 1979, Vienna, Austria. President Jimmy Carter leans across the roof of his car to shake hands along the parade route through Bardstown, Ky., Tuesday afternoon, July 31, 1979. The president climbed on top of the car as the parade moved toward the high school gym, where a town meeting was held. (AP Photo/Bob Daugherty) In this April 25, 1980 file photo, President Jimmy Carter prepares to make a national television address from the Oval Office at the White House in Washington, on the failed mission to rescue the Iran hostages. President Jimmy Carter applauds as Sen. Edward Kennedy waves to cheering crowds of the Democratic National Convention in New York's Madison Square Garden, Aug. 14, 1980. (AP Photo/Bob Daugherty) President Jimmy Carter raises a clenched fist during his address to the Democratic Convention, August 15, 1980, in New York's Madison Square Garden where he accepted his party's nomination to face Republican Ronald Reagan in the general election. (AP Photo/stf) Massachusetts Senator Edward M. Kennedy greets President Jimmy Carter after he landed at Boston's Logan Airport, Aug. 21, 1980. President Carter is in Boston to address the American Legion Convention being held in Boston. (AP Photo) President Jimmy Carter, left, and Gov. Bill Clinton of Arkansas enjoy a chuckle during a rally for Carter in Texarkana, Texas, Oct. 22, 1980. Texarkana was the last stop for Carter on a three-city one-day campaign swing through Texas. (AP Photo/John Duricka) In this Oct. 28, 1980 file photo, President Jimmy Carter shakes hands with Republican Presidential candidate Ronald Reagan after debating in the Cleveland Music Hall in Cleveland. (AP Photo/Madeline Drexler, File) Former US President Jimmy Carter, who had negotiated for the hostages release right up to the last hours of his Presidency, lifts his arm to the crowd, while putting his other hand around the shoulders of a former hostage in Iran, believed to be Bruce Laingen, at US AIR Force Hospital in Wiesbaden, Germany, Wednesday, January 21, 1981. Former Pres. Jimmy Carter, center, is joined by his wife Rosalynn and his brother Billy Carter during session of the Democratic National Convention, Tuesday, July 19, 1988, Atlanta, Ga. Billy had been recently diagnosed with cancer. (AP Photo/Bob Daugherty) Former U.S. President Jimmy Carter speaks to newsmen as PLO Chairman Yasser Arafat, right, looks on after the two men met in Paris Wednesday, April 4, 1990. Carter said he felt some leaders did not represent the region's yearning for peace. (AP Photo/Pierre Gieizes) Former U.S. President Jimmy Carter, center, introduces his wife Rosalynn, right, to Chinese Communist Party General Secretary Jiang Zemin, April 14, 1991 in Beijing. (AP Photo/Mark Avery) Former President Jimmy Carter gestures at a United Nations news conference in New York, April 23, 1993 about the world conference on Human Rights to be held by the United Nations in Vienna June 14-25. (AP Photo/Richard Drew) Former Presidents George Bush, left, and Jimmy Carter, right, stand with President Clinton and wave to volunteers during a kick-off rally for the President's Volunteer Summit at Marcus Foster Stadium in Philladelphia, PA., Sunday morning April 27, 1997. (AP Photo/Stephan Savoia) President Bill Clinton presents former President Jimmy Carter, right, with the Presidential Medal of Freedom, the nation's highest civilian honor, during a ceremony at the Carter Center in Atlanta Monday, Aug. 9, 1999. (AP Photo/John Bazemore) Former U.S. President Jimmy Carter adjusts his glasses during a press conference in Managua, Nicaragua, Thursday, July 6, 2006. The former president and 2002 Nobel Peace Prize winner is heading a delegation from the democracy-promoting Carter Center, based at Emory University in Atlanta, Georgia, to observe preparations for Nicaragua's Nov. 5 presidential election. (AP Photo/Esteban Felix) In this Friday, Dec. 8, 2006 file photo, former President Jimmy Carter signs copies of his book "Palestine: Peace Not Apartheid" at the Carter Center in Atlanta, Ga. (AP Photo/Ric Feld) Former President George H.W. Bush, left, watches as Jimmy Carter and Bill Clinton chat during a dedication ceremony for the Billy Graham Library in Charlotte, N.C., Thursday, May 31, 2007. (AP Photo/Gerry Broome) Former President Jimmy Carter poses for a portrait during the Toronto International Film Festival in Toronto, Monday, Sept. 10, 2007. (AP Photo/Carolyn Kaster) Former President Jimmy Carter poses on the red carpet for the documentary film, "Jimmy Carter: Man From Plains" during the Toronto International Film Festival in Toronto, Monday, Sept. 10, 2007. (AP Photo/Carolyn Kaster) Former President Jimmy Carter, right, and his wife Rosalynn wave to the audience at the Democratic National Convention in Denver, Monday, Aug. 25, 2008. (AP Photo/Jae C. Hong) Former President Jimmy Carter, right, and former first lady Rosalynn Carter are seen on stage at the Democratic National Convention in Denver, Monday, Aug. 25, 2008. (AP Photo/Paul Sancya) Former President Jimmy Carter waves to the crowd as he goes on stage at the Democratic National Convention in Denver, Monday, Aug. 25, 2008.(AP Photo/Paul Sancya) Former President Jimmy Carter, right, is seen with Democratic vice presidential candidate Sen. Joe Biden, D-Del., at the Democratic National Convention in Denver, Tuesday, Aug. 26, 2008. (AP Photo/Paul Sancya) President-elect Barack Obama is welcomed by President George W. Bush for a meeting at the White House in Washington, Wednesday, Jan. 7, 2009, with former presidents, from left, George H.W. Bush, Bill Clinton and Jimmy Carter. (AP Photo/J. Scott Applewhite) In this photo taken Saturday, May 29, 2010, former South Africa president Nelson Mandela, right, reacts with former US president Jimmy Carter, during a reunion with The Elders, three years after he launched the group, in Johannesburg, South Africa. (AP Photo/Jeff Moore, Pool) Former US President Jimmy Carter, center, one of the delegates of the Elders group of retired prominent world figures, holds a Palestinian child during a visit to the east Jerusalem neighborhood of Silwan, Thursday, Oct. 21, 2010. (AP Photo/Menahem Kahana, Pool) Former President Jimmy Carter, 86, leads Habitat for Humanity volunteers to help build and repair houses in Washington's Ivy City neighborhood, Monday, Oct. 4, 2010. (AP Photo/J. Scott Applewhite) FILE - In this Friday, Oct. 22, 2010 file photo, former president of Ireland, Mary Robinson, background right, looks at former U.S. president, Jimmy Carter, center, while visiting a weekly protest in the east Jerusalem neighborhood of Sheikh Jarrah. The protest was organized by groups supporting Palestinians evicted from their homes in east Jerusalem by Israeli authorities. (AP Photo/Bernat Armangue) Former U.S. President Jimmy Carter, his wife, Rosalynn, and former UN Secretary General Kofi Annan conclude a visit to a polling center the southern capital of Juba Sunday, Jan. 9, 2011. (AP Photo/Pete Muller) Former President Jimmy Carter signs his name in the guest book at the Jewish Community center in Havana, Cuba, Monday March 28, 2011. Carter arrived in Cuba to discuss economic policies and ways to improve Washington-Havana relations, which are even more tense than usual over the imprisonment of Alan Gross, a U.S. contractor, on the island. C (AP Photo/Adalberto Roque, Pool) Former U.S. President Jimmy Carter pauses during an interview as he and his wife Rosalynn visit a Habitat for Humanity project in Leogane, Haiti, Monday Nov. 7, 2011. The Carters joined volunteers from around the world to build 100 homes in partnership with earthquake-affected families in Haiti during a week-long Habitat for Humanity housing project. (AP Photo/Ramon Espinosa) Former U.S. President Jimmy Carter, sits prior to a meeting with Israel's President Shimon Peres at the President's residence in Jerusalem, Sunday, Oct. 21, 2012. Peres met two of 'The Elders', a group composed of eminent global leaders brought together by Nelson Mandela. (AP Photo/Sebastian Scheiner) Former U.S. President Jimmy Carter watches baseball players work out before Game 2 of the National League Division Series between the Atlanta Braves and the Los Angeles Dodgers, Friday, Oct. 4, 2013, in Atlanta. (AP Photo/Dave Martin) Former President Jimmy Carter speaks during a forum at the John F. Kennedy Presidential Library and Museum in Boston, Thursday, Nov. 20, 2014. Among other topics, Carter discussed his new book, "A Call to Action: Women, Religion, Violence, and Power." (AP Photo/Elise Amendola) President Jimmy Carter, left, and Rosalynn Carter arrive at the 2015 MusiCares Person of the Year event at the Los Angeles Convention Center on Friday, Feb. 6, 2015 in Los Angeles. (Photo by Richard Shotwell/Invision/AP) In this July 10, 2015, file photo, former President Jimmy Carter is seen in Philadelphia. (AP Photo/Matt Rourke, File) In a Sunday, Aug. 23, 2015 file photo, former President Jimmy Carter teaches Sunday School class at Maranatha Baptist Church in his hometown, in Plains, Ga. (AP Photo/David Goldman, File) Former President Jimmy Carter answers questions during a news conference at a Habitat for Humanity building site Monday, Nov. 2, 2015, in Memphis, Tenn. Carter and his wife, Rosalynn, have volunteered a week of their time annually to Habitat for Humanity since 1984, events dubbed "Carter work projects" that draw thousands of volunteers and take months of planning. (AP Photo/Mark Humphrey) Former President Bill Clinton, left, and former president Jimmy Carter shake hands after speaking at a Clinton Global Initiative meeting Tuesday, June 14, 2016, in Atlanta. (AP Photo/John Bazemore) Former U.S. President Jimmy Carter holds a morning devotion in Memphis, Tenn., on Monday, Aug. 22, 2016, before he and his wife Rosalynn help build a home for Habitat for Humanity. (AP Photo/Alex Sanz) Former president Jimmy Carter and Rosalynn Carter arrive during the 58th Presidential Inauguration at the U.S. Capitol in Washington, Friday, Jan. 20, 2017. (AP Photo/Andrew Harnik) In this Feb. 8, 2017, file photo, former President Jimmy Carter speaks during a ribbon cutting ceremony for a solar panel project on farmland he owns in his hometown of Plains, Ga. (AP Photo/David Goldman, File) Former President George W. Bush, center, speaks as fellow former Presidents from right, Barack Obama, Bill Clinton, George H.W. Bush and Jimmy Carter look on during a hurricanes relief concert in College Station, Texas, Saturday, Oct. 21, 2017. All five living former U.S. presidents joined to support a Texas concert raising money for relief efforts from Hurricane Harvey, Irma and Maria's devastation in Texas, Florida, Puerto Rico and the U.S. Virgin Islands. (AP Photo/LM Otero) Former President Jimmy Carter, 93, sits for an interview about his new book "Faith: A Journey For All" which will debut at no. 7 on the New York Times best sellers list, pictured before a book signing Wednesday, April 11, 2018, in Atlanta. (AP Photo/John Amis) Former President Jimmy Carter speaks as Democratic gubernatorial candidate Stacey Abrams listens during a news conference to announce Abrams' rural health care plan Tuesday, Sept. 18, 2018, in Plains, Ga. (AP Photo/John Bazemore) Former President Jimmy Carter and Rosalynn Carter are seen ahead of an NFL football game between the Atlanta Falcons and the Cincinnati Bengals, Sunday, Sept. 30, 2018, in Atlanta. (AP Photo/John Bazemore) Former President Jimmy Carter takes questions submitted by students during an annual Carter Town Hall held at Emory University Wednesday, Sept. 18, 2019, in Atlanta. (AP Photo/John Amis) Democratic presidential candidate former South Bend, Ind., Mayor Pete Buttigieg, left, meets with former President Jimmy Carter, center, at Buffalo Cafe in Plains, Ga., Sunday, March 1, 2020. (AP Photo/Matt Rourke) Former President Jimmy Carter reacts as his wife Rosalynn Carter speaks during a reception to celebrate their 75th wedding anniversary on July 10, 2021, in Plains, Ga. In this Nov. 3, 2019, file photo, former President Jimmy Carter teaches Sunday school at Maranatha Baptist Church in Plains, Ga. FILE - Former President Jimmy Carter teaches Sunday school at Maranatha Baptist Church, in Plains, Ga., Nov. 3, 2019. Well-wishes and fond remembrances for the former president continued to roll in Sunday, Feb. 19, 2023, a day after he entered hospice care at his home in Georgia. (AP Photo/John Amis, File) Former President Jimmy Carter, arrives to attend a tribute service for his wife and former first lady Rosalynn Carter, at Glenn Memorial Church, Tuesday, Nov. 28, 2023, in Atlanta. (AP Photo/Andrew Harnik) Former President Jimmy Carter arrives for the funeral service for his wife, former first lady Rosalynn Carter at Maranatha Baptist Church, Wednesday, Nov. 29, 2023, in Plains, Ga. The former first lady died on Nov. 19. She was 96. (AP Photo/John Bazemore) A sign wishing former President Jimmy Carter a happy 100th birthday sits on the North Lawn of the White House in Washington, Tuesday, Oct. 1, 2024. (AP Photo/Susan Walsh) Stay up-to-date on the latest in local and national government and political topics with our newsletter.None
, /PRNewswire/ -- In an upcoming , M. , Founding President of Nazarbayev University (NU) and a key architect of education reforms, will address the escalating scandal surrounding financial mismanagement at the country's flagship higher education institution. The crisis gained public attention following the announcement of the state audit results of Nazarbayev University. The revelations have sparked widespread concerns about transparency and oversight at one of most prestigious universities. Adding to the controversy are allegations of financial mismanagement involving the New Generation Foundation, the Jusan Group — entities originally established to ensure the long-term financial sustainability of NU and Nazarbayev Intellectual Schools (NIS). Questions have also been raised about the state of affairs at NU's Social Development Fund. Reports suggest that funds may have been misappropriated, triggering outrage from students, educators, and civil society. In response, a student initiative group from Nazarbayev University issued an open letter demanding the release of both the state audit and NU's internal audit of the Social Development Fund. The letter also calls for greater accountability, enhanced transparency, and the protection of students' rights. This appeal reflects mounting frustration with the university's leadership and a growing demand for immediate corrective action. interview will shed light on these unfolding developments. As a former leader of NU, Katsu is uniquely positioned to analyze the root causes of the crisis, critique the university's response, and discuss the broader implications for education sector. The full interview can be found here: In light of recent controversies surrounding the financial governance of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS), an open letter from concerned students has surfaced, addressing the troubling mismanagement of funds and conflicts of interest. The letter highlights a series of financial decisions that led to the unraveling of key institutions meant to ensure the long-term stability of NU and NIS. The students are particularly concerned about the fate of the Jusan Group and the Nazarbayev Fund (NGF), which were once positioned to secure the financial future of these two leading educational institutions. Instead, they that significant funds were misappropriated and whole organizations lost, leading to the collapse of what was once a promising financial structure. In response, , the Founding President of Nazarbayev University, has also written , received by EU Reporter, addressing the ongoing crisis and providing his perspective on the unfolding situation. In his letter, Katsu outlines the rationale of engagement in the financial sector and the erosion of the initial vision for NU, highlighting the role of key financial institutions like and the NGF in securing a stable future for the university and NIS. He draws attention to the series of decisions that led to the loss of the former and calls for urgent remedial actions to prevent further damage to the institutions' credibility and financial stability In this exclusive interview with , , the Founding President of Nazarbayev University, sheds light on these pressing issues. He discusses the audit findings, the role of , and what must be done to restore trust and secure the future of NU and NIS. Bio: Mr. is the Founding President of Nazarbayev University. He held the position of President from until . He was Chair of the Board of Trustees of an affiliated secondary school system, the Nazarbayev Intellectual Schools, and of the University's hospital system. Prior to the assignments in , over the course of a 30-year career at the World Bank, Mr. held various positions including leading financial sector reform support for , Director for , and Vice President for and . After his retirement from the World Bank, he served for a few years on the US board of a youth-oriented international development NGO. Between 2011 and 2015 he was an Advisory Panel member of the ASEAN+3 Macroeconomic Research Office (AMRO). Questions: - The decision to write the open letter was not made lightly. It was driven by a profound sense of responsibility to the students, faculty, and broader community of Nazarbayev University (NU) and Nazarbayev Intellectual Schools (NIS). These institutions were established with a vision to create world-class educational hubs in and establish a center of excellence for academic research. Ensuring their financial independence and long-term stability is a core requirement to achieve the two institutions' mission. However, recent developments revealed through state and internal audits have exposed serious breaches of trust. The misuse of funds from entities like the University's Social Development Fund, New Generation Foundation, and Jusan Group directly threatens the sustainability of NU and NIS. These funds were meant to build up and guarantee the financial security of the institutions. Instead, we now see signs of embezzlement, mismanagement, and a concerning lack of accountability. The role played by key figures like the directors and executives of NGF, of (Executive Vice President of NU, a former Minister of Education) and (Vice President for Student Affairs and International Cooperation, Nazarbayev University) only adds to the gravity of the situation. By writing the letter, my goal was to bring transparency to the issue and to mobilize public attention and international scrutiny. If we allow these values to be compromised, we risk undoing more than a decade of progress. The letter serves as a call for accountability, reform, and most importantly, protection of the future of youth. - , designed to meet international standards in research, teaching, and governance. One of its founding principles was , which ensured that students were selected solely based on their ability and potential. This meritocratic foundation was not only an academic principle but a reflection of NU's mission to transform education system. Students, alumni, faculty and staff have worked hard to build NU's name. Now students, that the lowering of admission standards undermines this mission and risks eroding the university's reputation both domestically and internationally. Such changes create the perception that NU is moving away from its original vision of being a world-class institution. To restore confidence, NU must reaffirm its commitment to international standards, transparency, and academic rigor. Reverting to merit-based admissions and prioritizing excellence will send a clear message that the institution remains steadfast in its mission. In the Open Letter, I stated that in theory, a policy of opening the entry door wider, but then be resolutely strict in terms of progression and graduation based on academic integrity and merit could work. There are some cases globally. However, it can only work if there is a full commitment to integrity and merit, openness and transparency, and NU's original values are upheld. But unfortunately, what I have observed and heard about recent developments at NU does not make me optimistic. While administration is supposedly in a belt-tightening mode, new senior positions were created and filled with scant regard for a proper hiring process and qualification. Conflict of interest and restrictions on hiring family members have been discarded. These are just a few of the institutional changes that will inevitably bleed over into the academic fabric as well. Is this the example that senior management wants to present to our students? - Absolutely, but to be fair, this corporate governance crisis is not just limited to . The findings of reveal a systemic absence of check and balances and accountability that extends beyond these institutions. Mismanagement and theft, such as those involving , have not only undermined NU and NIS but also shaken public trust in leadership. The financial institutions linked to NU and NIS—Nazarbayev Fund, New Generation Foundation, and Jusan Group were designed to guarantee long-term financial stability for education in , securing the futures of NU and NIS for decades. However, NGF and Jusan Group's systematic depletion and dismantling highlight the country's struggle with accountability and the need for deep structural reform. This mismanagement reflects broader governance failings—particularly a lack of oversight, transparency, and mechanisms to prevent conflicts of interest. I cannot pronounce myself on the current status of the NF, but I would not be surprised if one discovers similar shortcomings there as well. I had called for an audit for some time until my departure but was not successful. The impact extends beyond education, affecting the economic and social fabric of . Addressing these issues requires not just reforms within these organizations but also a renewed commitment to governance, accountability, and emphasis on establishing the rule of law. - The original intent of the Nazarbayev Fund, New Generation Foundation, and Jusan Group was to provide NU and NIS with long-term financial stability. These entities were carefully designed to ensure that leading educational institutions could eventually operate in a manner less affected by state budget fluctuations. However, as the audits reveal, these institutions have been systematically mismanaged and looted, jeopardizing the financial future of NU and NIS. NU's survival and success now depend on a bold and transparent strategy. The first step is to rebuild trust with the public, students, and alumni by publishing the findings of both the state audit of NU and the internal audit of SDF. Then, those responsible are held accountable. Financially, NU must re-establish a diversified funding model. This includes rebuilding its endowments and enhancing additional revenue streams, such as a logical and sound tuition policy, executive education and collaboration with industry and business in the form of contract research. Transparency and governance reform will be key to attract donors and investors who believe in NU's mission and potential. - I have not had the opportunity to access the state audit report, thus it is difficult to comment. If the cited amount in mismanagement of over six years is true, it is scandalous. However, we do not know what the auditors' definition and criteria of mismanagement is. So, let's first find out what the report actually says. What is clear, however, is the and it is sobering. This SDF audit reveals a blatant disregard of corporate governance principles, where individuals entrusted with university resources prioritized personal gain over the mission of NU. The audit revealed that SDF management led by current constructed an intricate web of subsidiary entities, including abroad, to systematically evade the oversight and control of the University. Funds ( ) meant to assist students and faculty were used for personal gains of and questionable deals. Unfortunately, NU senior officials such as participated in such schemes. When I voiced my concern earlier over the developments at NU, it is largely because of the track record of senior officials there. For NU to move forward, it must adopt zero-tolerance policies for corruption, demand accountability from those responsible, and reform its governance structures to ensure transparency. - The claim of a lack of funds is a direct consequence of the systematic looting of resources from the New Generation Foundation and Jusan Group. These entities were explicitly designed to contribute to NU and NIS' long-term financial sustainability against the backdrop of reduced state funding. However, as I described in my Open Letter, these innovative financial structures have been undermined by mismanagement, and outright theft. For instance: Rebuilding financial stability will require recovering stolen assets, reforming governance structures, and restoring public trust through full transparency and accountability. - Accountability must begin with transparency. First, all findings from the audits should be made public, and independent investigations should be conducted to identify those responsible. No individual, regardless of rank or influence, should be above scrutiny. Second, legal consequences must follow where wrongdoing is found. legal system must demonstrate its independence and commitment to justice by prosecuting those who exploited these funds. Finally, governance reforms are essential. NU and its associated entities must implement stricter checks and balances, including external audits, whistleblower protections, and oversight committees with independent members. These steps are not just about rectifying past mistakes—they're about ensuring a future where such mismanagement cannot happen again. - The patterns that have emerged—opaque transactions, conflicts of interest, and questionable settlements—are deeply troubling. For instance, the transfer of assets to private hands under unclear terms raises red flags about the intentions behind such decisions. This exploitation puts the futures of NU and NIS at risk. These institutions were designed to be financially independent, insulated from political and economic volatility. The weakening of their financial foundations erodes their ability to deliver on their missions and betrays the trust of the Kazakhstani people, who have invested in these institutions through their taxes. The way forward requires not just recovering lost assets but rebuilding the governance systems that allowed this exploitation to occur. - The vision for NU was bold: to create an institution that could compete with the best universities in the world while serving as a model for higher education reform in . From day one, we envisioned NU as a hub for innovation, research, and leadership development—a place where the brightest minds could come together to solve the challenges of tomorrow. However, one should not forget that universities, in particular research universities, are a long-term endeavor. They are meant to educate and develop generations upon generations of leaders and professionals in a broad range of sectors, and thus contribute to the scientific, economic, and societal wealth of countries. Building a strong institution that can meet the test of time requires long-term and unwavering commitments to foundational values such as integrity, meritocracy, excellence, openness and transparency. But of course, strong financial support from government and other stakeholders is needed, especially in the first decades. Thus, it was understood that NU would be dependent on state funding (through education grants and capital investments) for the initial decades of its existence, while in the meantime it would develop other sources of financing such as through endowment funds, tuition, and contract research. The Nazarbayev Fund, NGF and the Jusan Group were integral parts of this vision. This overall construct allowed us to recruit world-class faculty, develop state-of-the-art facilities, and provide scholarships to talented students, many from underprivileged backgrounds. These resources weren't just financial—they were a vote of confidence in NU's mission and a recognition of the transformative power of education. The loss of these resources is a significant setback, but I do hope that NU can recover. The university must focus on rebuilding trust with its stakeholders—students, faculty, alumni, and the public. This starts with transparency in financial management and governance. Diversifying funding sources will be crucial. This includes rebuilding its endowments, engaging with the philanthropic community, and developing innovative revenue streams. But most importantly, NU must stay true to its mission and values. Financial stability is important, but it must never come at the cost of compromising the university's integrity or academic excellence. Restoring NU's credibility begins with transparency. For instance, the university must share the audit report with stakeholders, and openly address any major shortcomings highlighted in the audit, including financial mismanagement and governance failures. An independent investigation, followed by public disclosure of findings, will demonstrate a commitment to accountability. Next, an affirmation of NU's commitment to its foundational values and principles is needed. Next, institutional reforms are essential. This includes introducing stronger oversight mechanisms for financial and administrative processes, ensuring that governance boards are staffed with individuals of the highest integrity and independence, and that management, faculty and staff are recruited on the basis of transparency and merit. Fourth, NU must recommit itself to its founding mission of academic excellence. This means maintaining rigorous admission standards, prioritizing high-quality faculty recruitment, and fostering research that addresses national and global challenges. And finally, engaging the NU community—students, faculty, alumni, and parents—in shaping the university's path forward is critical. A transparent, inclusive process will rebuild trust and reaffirm NU's position as a leader in higher education. Educational reform is not just critical—it is foundational to economic recovery and long-term stability. The pandemic exposed vulnerabilities in education systems worldwide, but it also underscored the importance of adaptability, innovation, and resilience. For , investing in education means investing in the future. A well-educated population is essential for diversifying the economy, attracting foreign investment, and fostering innovation. Institutions like NU and NIS must lead the way by setting benchmarks for quality and demonstrating the value of education in driving economic progress. Moreover, reform must focus on equity. Expanding access to high-quality education for students from socially vulnerable backgrounds will ensure that economic recovery benefits all segments of society, not just the privileged few. - NU and NIS are more than educational institutions—they are catalysts for economic growth and social development. By equipping students with critical thinking skills, technical expertise, and a global perspective, they prepare the workforce needed to diversify economy. Their impact extends beyond classrooms. NU's research contributes to solving national challenges in areas like energy, healthcare, and technology. Meanwhile, NIS fosters innovation and leadership at the secondary education level, creating a pipeline of talent that benefits universities and industries alike. To sustain this role, NU and NIS must secure their financial stability. This includes strengthening governance, diversifying funding sources, and forging partnerships with the private sector and international organizations. These institutions are vital to future, and their success is intertwined with the country's broader economic ambitions. - The NU model is innovative, but its core principles—integrity, meritocracy, autonomy, and a focus on global best practices—are universally applicable. Many countries could benefit from establishing institutions that prioritize excellence and align with international standards. That said, successful implementation depends on adapting the model to local contexts. approach benefited from strong initial financial and political backing, and a vision that emphasized independence from political and state bureaucratic interference. Replicating this requires careful consideration of governance structures, funding mechanisms, autonomy and other values, and cultural factors. In countries where philanthropic traditions or financial resources are limited, the model may need to rely more on public-private partnerships or international collaborations. Ultimately, the NU experience demonstrates that ambitious goals in education are achievable with the right vision, leadership, and long-term commitment support. - The story of NU and its financial affiliates offers a critical lesson: no institution, no matter how noble its mission, is immune to mismanagement and corruption without strong governance. NU and NIS' financial pillars, namely the Nazarbayev Fund, NGF, Jusan Group, but also the SDF and NIS' Corporate Development Fund were designed to guarantee long-term financial sustainability, yet their exploitation demonstrates how quickly trust can be eroded when transparency and accountability are neglected. For any endowment fund or financial institution, the following lessons are clear: NU's experience is a cautionary tale but also an opportunity. By addressing these failures head-on, NU can emerge as a model for how institutions can learn from adversity and rebuild stronger than before. View original content to download multimedia: SOURCE EU Reporter
NEW YORK , Nov. 26, 2024 /PRNewswire/ -- Rhuna, an advanced event management platform developed by the creators of UNTOLD—ranked #3 globally by DJ Mag and one of the world's largest music festivals—announces its partnership with Plume, the first fully-integrated layer-1 modular blockchain focused on Real World Asset Finance (RWAfi). Reaching over 2 million attendees across 165 events, including partnerships with iconic organizers like UNTOLD Festival, this collaboration is set to revolutionize the $700B+ live events industry with cutting-edge innovation. Building the Future of Onchain Events Rhuna's platform integrates into Plume Network, leveraging its ecosystem of 180+ projects, over 200M transactions, and support from 3.5M testnet users. This partnership enables innovative blockchain solutions that modernize event management, offering capabilities such as: Rhuna's Proven Track Record Rhuna's platform has already revolutionized event management in the Web2 space, with: This collaboration amplifies Rhuna's ability to scale globally while delivering cost-effective, engaging, and personalized event experiences. Why This Matters The partnership addresses key challenges in the events industry, combining Rhuna's expertise with Plume's blockchain infrastructure to deliver tangible results, while creating transparent and scalable tools for secure, decentralized event management. " This partnership is a major milestone for the integration of blockchain into real-world industries, " said Chris Yin , CEO of Plume. " With Rhuna's proven success in live events and Plume's infrastructure, we're unlocking the full potential of Web3 to transform how events are managed and experienced. " " We're excited to partner with Plume Network, whose focus on RWAfi and modular blockchain infrastructure perfectly aligns with Rhuna's mission. Plume's technology enhances our platform's scalability, security, and efficiency, helping us deliver seamless, blockchain-powered solutions for event organizers and attendees in real-world asset integration. This partnership is a key step in transforming the events industry, " said Sveatoslav Vizitiu, CEO of Rhuna. About Rhuna Rhuna is a white-label event management platform integrating modular solutions for payments, marketing, ticketing, and analytics into a seamless, blockchain-powered infrastructure. Founded by the creators of UNTOLD, Rhuna's mission is to scale events of all sizes while delivering cost-effective, engaging, and personalized attendee experiences. Learn more at rhuna.io or contact sveat@rhuna.io . Twitter | Website | Discord | Telegram About Plume Plume is the first fully integrated L1 modular blockchain focused on RWAfi, offering a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. With 180+ projects on its private devnet, Plume provides an end-to-end tokenization engine and a network of financial infrastructure partners, simplifying asset onboarding and enabling seamless DeFi integration for RWAs. Learn more at plumenetwork.xyz or contact press@plumenetwork.xyz . View original content to download multimedia: https://www.prnewswire.com/news-releases/700b-industry-shake-up-rhuna-x-plume-transforming-events-for-2m-attendees--200m-blockchain-transactions-302316970.html SOURCE Plume Network
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