Wednesday 10 August 2016 11:49 am

These are the new buzzwords Goldman Sachs thinks we should all know

Ever the helpful sort, Goldman Sachs has launched its latest set of buzzword explainers to help us avoid becoming 2016 trend luddites. 

The Capitalist will admit to knowing only one of the three new key phrases Goldman has detailed and explained in video form – brace yourselves.

The first is, apparently, "OLED".

No, not the Russian-sounding man in the IT department. OLED is in fact an "organic light emitting diode", and is "the next generation display technology in electronics and lighting". Duly noted.

Read more: 10 office jargon phrases that need to die

Second: "machine vision". This is a result of machines that rely on the coordination of 3D sensors, cameras and image processing software "to do things better than the human eye ever could". 

Suppose 2016 isn't too early for our robot overlords to be making an appearance.

And finally, one we all might have heard of, "craft". Specifically, "craft products".

Most famous for craft beer and the resurgence of bizarre items such as luxury hand soaps, craft or artisanal products are those perceived to be of higher quality and manufacture.

The antidote, for some, to mass production.

Read more: Watch this brilliant rap against the blight of buzzwords

And now you know! Tell everyone. Drop them into conversation when you've put down that copy of The Economist you haven't read.

Mention them in passing when someone talks about wanting to get a new TV (OLED), mistrusting factory processes (machine vision) or wanting to overspend on booze (craft). 

If you need help remembering, The Capitalist has favoured flashcards.

Though maybe Goldman Sachs has a new phrase for those too. 

  • OLED: Organic light emitting diode – the latest display technology in electronics and lighting.
  • Machine vision: Computer vision (that beats humans) using 3D sensors, cameras and image processing software.
  • Craft products: Products perceived to be of higher quality and manufacture (note: the word perceived).