Tag: Tech

  • News: Palantir results shows Denver is the place to be

    Finito World looks at Palantir, the Denver-based company which is defining the trend towards AI technologies, and careers in that space

    Palantir’s exceptional growth is dominating business headlines this week as the demand for AI continues. There will be no imminent slowdown in the trend which has defined the past few years.

    Monday’s results were a clear sign of AI’s resilience in general, and Palantir‘s strength in particular. While the naysayers will no doubt continue to urge caution, AI isn’t going away any time soon. These technologies are defining the careers of the future.

    The Denver-based company released its results and revenues were impressive. In the third quarter, its revenue climbed 30 per cent to $725.5m. This was a significant increase on the $703.7m predicted by analysts. Net income accordingly rose to a record $144m.

    Changing times

     

    This is not the only Denver success story with companies as varied as the Gates Corporation, Accenture, Walmart and IBM having operations there.

    So why is Denver so appealing? There are several reasons why it’s become a hub, and why young people might think of making their base there.

    It didn’t use to be this way. It was the American writer Emma Goldman who wrote: “Denver is not unlike a prison. Its inhabitants, too, have been sent there “to do time.” That which makes the position of the prisoner preferable, is the consolation that the State will feed him and that some day his time will expire.”

    That’s a bleak outlook but things have changed. And as they change, technology careers are on the rise.

    Magnet for business

    First of all, it’s a centralised time location which makes communication and business operations easier. Denver is a good location to do business in both the East and West Coast while managing to keep civilised sleeping hours.

    Added to that it has excellent infrastructure including a major international airport in the shape of Denver International Airport.

     

    Palantir takes advantage of Denver's excellent transport links to provide excellent technologies careers
    Palantir takes advantage of Denver’s excellent transport links

     

    Aspect of the Future

    Its sector strengths are varied and include technology, aerospace, telecommunications, energy (particularly renewable energy), healthcare, and financial services. This diversification makes it resilient to economic downturns and attractive to businesses in various sectors.

    It’s also clearly a part of the future with Denver becoming a key tech hub, attracting startups and large tech companies, especially in software development, fintech, and cybersecurity.

    A Question of Tax

    The city has a growing reputation for innovation, bolstered by a strong talent pool and support from venture capital.

    This is in part due to an attractive tax regime. Colorado has a relatively low corporate income tax rate compared to many other states, and local governments in Denver often provide incentives to attract businesses, including tax credits, grants, and job training programs.

    America is moving fast and it’s not just Palantir which is part of that journey: Denver is too.


    Need mentoring on international career moves or technologies careers? Go to
    https://www.finito.org.uk/

     

  • Distracting tech poses data breach risk

    Patrick Crowder

    There can be many distractions in the workplace, but with today’s constant connectivity, hard to navigate technology can become a nightmare. This goes further than missed emails or slight productivity slumps – a study from the secure email provider Zimmer suggests that stress and distraction caused by technology can pose a security risk.

    The 7,000-employee survey shows that 50% of employees feel that overly clunky IT systems slow down their work and make them more prone to errors due to distraction. Email is a popular place for these errors to manifest, and due to its assumed safety, is one of the main ways a data breach can occur. Despite this, 33% of employees don’t recall receiving any data security training in the past two years.

    Zivver CEO Wouter Klinkhamer recognizes that human error is inevitable, but he believes that systems can be kept secure without adding undue stress to an employee’s workday.

    “We can try to design cybersecurity so employees don’t make errors, but errors are ubiquitous,” Klinkhamer says, “The best businesses are those that best manage employee mistakes to prevent them from turning into a security incident. IT teams need to engage with employees without security measures getting in their way and create an effortless and frictionless experience by tailoring security policies and technology to them. Only then can employees truly be empowered in their work, with the freedom to focus without the distraction of clunky IT processes.”

    Email is the primary method of communication for most businesses, particularly in work-from-home scenarios. 88% of employees use email predominantly, and feel that it is a safe method of communication. However, of those same employees, 62% admitted to sending emails in error due to a high-stress environment.

    Steven Bond is Information Rights Manager at The Open University. He highlights the need for email security in the age of remote working.

    “Email has been heavily relied upon for decades now, for better or worse, to disseminate the lion’s share of communication – from inconsequential one liners to mass broadcasts. As more people than ever have been working remotely, email security has surged up the agenda for businesses. Supporting people to be able to make better decisions, implement effortless tools, and avoid being overloaded should be key drivers for businesses.”

    Credit: https://www.zivver.com

  • Pharma, Tech and Online Shopping: the Companies Riding the Covid Wave

    Pharma, Tech and Online Shopping: the Companies Riding the Covid Wave

    Georgia Heneage

    The Financial Times recently published a list of companies which have prospered during the pandemic. The result is, perhaps unsurprisingly, made up of tech giants, online retailers and pharmaceutical groups; companies for whom transitioning to a remote working environment and the increase of at-home shopping habits have been more than advantageous.

    The downside to these stories of good fortune is that many smaller businesses have suffered as a result; in the UK there is a crisis on the High Street with analysts estimating that more than 60 stores closed per day in the first half of 2020. And whilst conglomerate giants sat atop piles of profits (ten of the richest people in the world profited by a total of $400bn because of the pandemic), millions were plunged into unemployment or poverty. As president of Nike Jon Donahoe told analysts in September, “these are times when the strong can get stronger.”

    This marked divide highlights the impact of the digital age on the financial welfare of businesses across the world. And the end of the pandemic may not signal a narrowing of that gap, despite pressures to keep tech giants under the same laws and regulations as public services.

    Below are the five companies who profited the most out of Covid-19, based on equity gained and with added market cap.

    1. Amazon: $401.1bn

    Though Amazon’s revenues were propelled to extreme heights as it became the go-to online marketplace for essential goods, the company also reported a 4bn fallout due to the virus checks it had to implement. The giant’s rise to fortune also prompted skeptical responses about its monopolisation of the online shopping market and dire working conditions for workers who had pressured, quick-turnaround environments thrust upon them.

    • Over 560,000 employees worldwide and 27,500 across the UK; second largest private employer in the US
    • Sectors influenced by growth: audiobooks, Amazon Publishing imprint, Amazon Studios, Artificial Intelligence, Amazon Air (cargo transportation service), Drone delivery services (Amazon Prime Air), Amazon Logistics (contracts with small businesses to deliver to customers)

    2. Microsoft: $269.9bn

    The transition to a remote working culture benefited Microsoft as it harnessed the Zoom-equivalent Microsoft Teams, which CEO Satya Nadella reported 75 million people used in a single day in April.

    • 163,000 employees worldwide
    • Sectors influenced by growth: IT consultancy, Artificial Intelligence, software & hardware engineering, sustainability consultancy

    3. Apple: $219.1bn

    Online sales kept this giant afloat as hundreds of stores across the world were forced to shut: the company profited from an increase in sales of laptops, iPads and smartwatches. There are, however, significant challenges on the horizon in the form of Chinese rivals, tighter tech regulations and recent criticism over 30% ‘apple tax’ on in-app purchases.

    • 137,000 employees worldwide (Apple claims to ‘support’ over 1.76 million jobs in Europe). In the UK there are 6,459 employees and 291,000 App Store ecosystems jobs
    • 1,500% employment growth since 2000
    • Sectors influenced by growth: Apps, construction, retail, marketing, engineering

    4. Tesla:  $108.4b

    Founder Elon Musk has recently side-stepped Bill Gates to become the world’s second richest person as shares in Tesla increased rapidly during the pandemic and the electric car firm joined the S&P 500 stock market index. Musk promises a restructuring of the car model with a self-driving ‘robo-taxi’ system which would allow Tesla owners to rent out their cars- that he says will change the face of car ownership.

    • 48,016 employees worldwide
    • Sectors influenced by growth: car manufacturing, advertising & marketing, spacecraft engineering, Artificial Intelligence, sales
    • Former Tesla employees told Business Insider that their favourite parts of the job included: seeing customer’s satisfaction with the product, a collaborative culture, employee discounts and the fast-spaced nature of the sector, being able to build things & watch engineers at play

    5. Tencent: $93bn

    As the first of multiple Chinese companies on this list, Tencent took advantage of the shift towards online gaming during the pandemic. Famous for its hugely popular social media app WeChat, Tencent’s soar in revenues is mostly down to its world-leading position in the gaming world: it saw a 40% increase in online games sales and its online video subscribers grew to 112m.

    • 62,885 employees worldwide
    • Sectors influenced by growth: games designer, audio engineer, software engineer, animator, sales & marketing, virtual reality

  • Euan Blair: ‘Diversity has become existential for companies’

    Euan Blair: ‘Diversity has become existential for companies’

    The tech entrepreneur on White Hat’s new approach to getting young people into work

    As a business looking to build an outstanding alternative to university and create a diverse group of future leaders, the coronavirus has made our offer front of mind for schools and companies. The pandemic has shown the need for digital skills accelerate by two to five years over the last few months. Meanwhile, universities have been in a crisis defined by lack of capability and lack of will: they’ve been unable to deal with this new reality. Some are doing remote courses that are not particularly great and with no social experience, which is one of the main reasons why people go to university.

    Meanwhile, companies have massively growing digital skills needs and an acceptance that they need to get skills from other sources. Through the work of Black Lives Matter, diversity has become existential for them. What we have is an open discussion about racial inequality and structural barriers in society. CEOs are thinking: “Do I have the skills mix to succeed over the coming years? And how do I make sure I’m doing my part on diversity and inclusion and making my organization accessible to people?” Perhaps the final piece in the puzzle is that employers are asking themselves how they keep employees engaged at home.

    All this has made it clear how valuable our apprenticeships program is. We aim to create a frictionless barrier for diverse talent. We’ve been growing really quickly over the past few months. We had to transition everything online almost overnight. There’s a big difference between remote learning, which is taking something you deliver in person and lifting and shifting it online, and actual online learning, which is in a different cadence and requires a different style of instruction. We invested early in making sure our curriculum is suitable for online learning.

    I appreciate the government’s sentiment regarding the recent movement on apprenticeships guarantees. It’s top of the agenda for government worldwide. The Singaporean government is subsidizing 80 percent of apprenticeship wages. In the US, the federal government just announced they’re going to ban the use of college degrees for the hiring process and instead hire people based on skills. This is a gradual global groundswell and there’s a lot to be said for making apprenticeships a priority: it lays the gauntlet down to schools and parents to be seriously exploring these alternatives.

    Having said that, you can’t do this without employers. And the bigger piece is we need employers to think: “We don’t need a graduate because although they might come with a degree, they don’t come with any of the skills I need and I want someone who has the right mindset to learn.” At White Hat, we also understand that over a 50-year career, a shot of learning at the start isn’t going to be sufficient. You’re going to need to keep learning.

    Our programs range across areas. For instance, we did the first ever apprenticeship in legal project management with Clifford Chance. We also do programs with KPMG where we reskill members of their teams in data analytics; this is driven by their clients but also by their internal needs. At Google, they’re training digital marketers and software engineers. We’ve also had a focus on military veterans working with Citi Group and returning to work mothers.

    Reskilling is a major area. There are many individuals within organizations with amazing residual knowledge of that organization and deep loyalty to it. They’ve worked somewhere for a significant period of time, but their role is changing. After doing the same job for five to ten years, they want to do something different and take on a new challenge. We’re about giving those people a route.

    Companies are very aware that Generation Z have a host of skills that they know they need to address. What they’re increasingly realizing is that there is very little difference between the skill level of a graduate and the skill level of someone they can hire as an apprentice. If you’re relying on elite universities to fulfil your hiring needs, you’re going to get very similar people.

    With the virus, all this has become absolutely urgent and critical. As often happens when you have huge shocks to the economy, it brings into sharper focus a lot of things that people had already realized to some extent, but they didn’t necessarily have a burning platform on which to act. Well, now they do.

    Euan Blair is CEO and co-founder of White Hat, a tech startup which seeks to democratize access to the best careers.