Word: computerization
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Sir: Secretary McNamara should be reminded, before it is too late, that some problems are too complex and ill-defined for the electronic computer. In meteorology, for instance, we do not have sufficiently valid and powerful theoretical concepts to make the use of the computer meaningful, so it helps very...
The computer is only a very rapid calculating machine-it is not a substitute for artistic genius, scientific understanding, or informed judgment.
In the growing blizzard of paperwork piling up on U.S. business, the country's 13,500 commercial banks are slogging through the deepest drifts. Last year, the public scribbled 14 billion checks-almost double the number of a decade ago-and by 1975 they will be writing 29 billion...
Now small banks are developing a neighborly solution of their own. Nine banks in Hartford, Conn., plan to share a computer center; small banks in New York and Kansas are also taking up the idea. Such centers should make smaller banks competitive with big ones. The Hartford pool, designed by...
The banks will pay $18,000-$20,000 a month for the service, and after the first year, when the full start-up costs are recovered, they will begin showing some savings-though they won't estimate how much. Besides whittling their direct costs, the nine banks will also...