How Artificial Intelligence Can Improve the Hiring Process

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How Artificial Intelligence Can Improve the Hiring Process

Recruiting software and AI have become increasingly popular, especially right now with remote work becoming the norm. However, this has not been without problems. To solve the problems with recruiting AI people must program their AI with unbiased data. With unbiased data, recruiting AI makes the hiring process a snap. It makes selecting the top applicants quick and easy and even increases the talent pool’s diversity. Learn more by reading the rest of this article and visual deep dive. 

The past problems with recruiting AI are easily solvable, but do pose a threat. Recruiting AIs have been found to learn similar biases to human recruiters, intensifying the lack of diversity within the workforce. In 2018, Amazon scrapped its recruiting AI because the program developed a preference for male candidates, penalizing resumes that included the word “woman” or mentioned an all female college. This is of course in conflict with the effort to improve the hiring process. Excluding part of the talent pool based on factors that have no correlation to a candidate’s qualifications is detrimental to hiring successfully. 

Having the AI pick up on certain keywords creates a large potential for bias to sneak into the system. It also shifts the value from an applicant’s qualifications to their resume building abilities. The ability to jam as many keywords into a resume or cover letter is not the most important skill for a person to have once they get hired for a job. With 90% of enterprises and 68% of small businesses using applicant tracking systems, this has to be tackled under control. And, it can be by using a recruiting AI programmed with unbiased data. 

The biases that affect fair hiring exist in humans and are transferred to the AI through the use of flawed data when it is being programmed. Luckily, the software is able to completely avoid these biases, unlike humans. The AI just needs to be programmed with varied, unbiased data. It needs to be taught to value factors like a person’s interests and skills while disregarding their age, gender, or race. 

An unbiased recruiting AI is easier and allows for more diversity in the talent pool, which leads to more success. In the S&P 500, the 20 most diverse companies achieve a greater long-term profitability than their less-diverse counterparts. Diversity fuels new ideas and innovation, allowing a company to take on problems to find better solutions. Creating a more diverse workforce begins with improving the recruiting process, which can easily be done with unbiased recruiting AI.

Artificial intelligence in recruiting software is a great way to speed up the hiring process while also making it more effective. Recruiting AI can also be integrated into a company’s current applicant tracking system or other software. When unbiased data is used, recruiting AI is able to find the best applicants to any job regardless of a person’s socioeconomic background. It has the potential to improve hiring and improve the workforce overall. It can make companies more diverse and therefore more successful.

How Artificial Intelligence Can Improve the Hiring Process
Brian Wallace

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iOS 14 iMessage Has a Major Security Upgrade

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iOS 14 iMessage Has a Major Security Upgrade

iMessage in iOS 14 has a major upgrade over previous versions, taking security to an all-new level.

With more than 1 billion iPhones, Apple’s iMessage is one of the most popular messaging platforms on the market. As a result, it’s a popular target for hackers and bad actors looking for an attack vector.

It appears Apple has taken a significant step toward protecting iMessage users in iOS 14, adding a behind-the-scenes feature called BlastDoor, first noticed by Samuel Groß, a security researcher with Google’s Project Zero, and reported on by ZDNet.

BlastDoor unpacks a received message and all its contents in a safe, secure silo. This allows the the message to be opened and viewed without it being able to access the underlying system, user data or anything that could allow it to post a threat.

Groß seems confident the changes will be a net positive for iMessage security and should help reduce iMessage exploits.

Overall, these changes are probably very close to the best that could’ve been done given the need for backwards compatibility, and they should have a significant impact on the security of iMessage and the platform as a whole. It’s great to see Apple putting aside the resources for these kinds of large refactorings to improve end users’ security. Furthermore, these changes also highlight the value of offensive security work: not just single bugs were fixed, but instead structural improvements were made based on insights gained from exploit development work.

iOS 14 iMessage Has a Major Security Upgrade
Matt Milano

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SolarWinds Attack More Widespread, 30% Of Victims Did Not Use Software

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SolarWinds Attack More Widespread, 30% Of Victims Did Not Use Software

A troubling detail has come to light as part of the SolarWinds investigation, namely that 30% of victims didn’t use the software in question.

The SolarWinds attack was one of the worst cybersecurity breaches in US history. Hackers compromised SolarWinds’ Orion IT software, injecting a trojan that allowed them to target companies and organizations using the software. The attack was what is known as a supply chain attack, as it compromised legitimate software in the supply chain, before it could be distributed.

According to new information, however, it appears the hackers behind the attack were not relying solely on SolarWinds software since roughly 30% of victims weren’t using it.

The hackers “gained access to their targets in a variety of ways. This adversary has been creative,” Brandon Wales, acting director of the Cybersecurity and Infrastructure Security Agency, told The Wall Street Journal. “It is absolutely correct that this campaign should not be thought of as the SolarWinds campaign.”

The revelation casts a new light on the attack, and the ingenuity the hackers demonstrated, as well as the threat they pose.

SolarWinds Attack More Widespread, 30% Of Victims Did Not Use Software
Matt Milano

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83% of Engineers Want Remote Work Post-Pandemic

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83% of Engineers Want Remote Work Post-Pandemic

The pandemic has resulted in a major shift in software engineers, with 8 in 10 wanting remote or hybrid work options post-pandemic.

Terminal conducted a survey of 1,108 software engineers. The respondents were primarily from Canada, Mexico and Latin America, although also included ones from the US, Europe and Asia.

According to the survey, 80% of engineers want remote work anywhere from 60 to 100% of the time post-pandemic. 83% of respondents said they wanted some kind of hybrid option, allowing them to work from both home and office.

“The rise of the remote work movement, fueled by the COVID-19 pandemic’s stay-at-home orders, has established a new era of engineer expectations,” said Clay Kellogg, CEO of Terminal. “Our findings show that overall, engineers love the flexibility and benefits that remote work offers and aren’t going back to the old ways. Business leaders risk widening the tech talent shortage at their companies if they don’t build a long-term remote work strategy that focuses on mental health, flexible schedules and team-building.”

Terminal’s research is the latest indication that companies will need to make permanent changes if they want to retain top talent post-pandemic.

83% of Engineers Want Remote Work Post-Pandemic
Matt Milano

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Tesla’s Model S and Model X Refresh Ditches the Gear Shift

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Tesla’s Model S and Model X Refresh Ditches the Gear Shift

Tesla has unveiled its refreshed Model S and Model X, including a radically redesigned steering wheel and an absent gear shifter.

Whether automatic or standard, the gear shifter has been a major part of almost every vehicle ever made. Leave it to Tesla to rethink it…and ditch it.

No more stalks. Car guesses drive direction based on what obstacles it sees, context & nav map. You can override on touchscreen.

— Elon Musk (@elonmusk) January 28, 2021

Electrek got a look at an internal Tesla document that discusses how the vehicles will know which drive mode to active:

The vehicle uses its Autopilot sensors to intelligently and automatically determine intended drive modes and select them. For example, if the front of Model S/X is facing a garage wall, it will detect this and automatically shift to Reverse once the driver presses the brake pedal. This eliminates one more step for the drivers of the world’s most intelligent production cars.

According to Electrek, “Tesla is making sure that people are not too confused about it by adding force touch controls for ‘Park, Reverse, Neutral, and Drive’ drive modes at the base of the phone charger on the center console.”

Needless to say, this is a huge departure from what people are familiar with, but Tesla has built an entire business of upending the traditional auto. This is one of those features many people will probably wonder how they ever lived without.

Tesla’s Model S and Model X Refresh Ditches the Gear Shift
Matt Milano

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Ericsson Beats Forecast On Strong 5G Demand

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Ericsson Beats Forecast On Strong 5G Demand

Ericsson has reported its quarterly results, beating forecasts on increasing 5G demand.

Ericsson is one of the main network equipment providers, and has been a leader in the 5G rollout around the world. The company is in a strong position, with Huawei being banned by multiple countries, and Nokia facing challenges in its efforts to be competitive.

In its quarterly results, Ericsson reported 69.6 billion Swedish crowns, surpassing estimates of 68.35 billion crowns. In addition, the company’s gross margin increased to 40.6%, up from 36.8% a year ago.

“Networks sales grew organically by 20%, reporting a gross margin of 43.5% (41.1%) for Q4,” said Börje Ekholm, President and CEO. “This reflects continued high activity levels in North America and North East Asia, and also in Europe where we further increased market share. Networks delivered an operating margin of 19% for full-year 2020 – well above the 15%-17% target. Investing in R&D is fundamental to our strategy. Since 2017 we have increased R&D investment by SEK 10 b. and delivered SEK 16 b. of improved operating income. Our growth during 2020 is built on a strong and competitive 5G portfolio.”

While the company warned there may be exposure as a result of Sweden’s decision to exclude Huawei from its 5G network. China has never been shy about warning of retaliation against countries that exclude Huawei. Nonetheless, the company’s 180 markets should help insulate it.

Ericsson Beats Forecast On Strong 5G Demand
Matt Milano

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Facebook’s Ireland Content Moderators Demand Remote Work

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Facebook’s Ireland Content Moderators Demand Remote Work

Facebook is facing backlash from workers in Ireland, as they demand the right to work from home amid the pandemic.

Like many companies, Facebook pushed back its return-to-office date as the pandemic drags on, allowing employees to work from home until July 2021. Unfortunately, that doesn’t seem to apply to content moderators that are working as contractors via a third-party.

Subcontractors for Dublin-based CPL claim Facebook has forced them to return to the office, even as Ireland is in the midst of a level five lockdown, according to The Verge. Level five means that nonessential retail is closed and household visits are forbidden.

The contractors have taken their complaint to Deputy Prime Minister Leo Varadkar, who has agreed to contact both Facebook and Covalen, a CPL subsidiary.

“They’ve made it abundantly clear that our health & safety and lives don’t matter to them,” said Paria Moshfeghi, a Facebook content moderator. “They’re forcing us into the office, putting us and our families at risk of COVID-19, even though our colleagues keep getting COVID. Facebook employees working on the similar content as us are safe and allowed to work from home. Why aren’t we?”

Facebook’s Ireland Content Moderators Demand Remote Work
Matt Milano

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Short-Seller Losses Top $70 Billion In the War on Wall Street

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Short-Seller Losses Top $70 Billion In the War on Wall Street

Short-sellers have lost a staggering $70 billion in the War on Wall Street between institutional investors and day traders on Reddit.

Day traders on Reddit began driving up the price of stocks traditional Wall Street investors had recommended shorting, most notably GameStop, which saw its price go up some 1,000%. AMC, Bed Bath and Beyond, Blackberry and others also saw stock jumps as a result of the day traders.

None of the companies in question saw their stock rise as a result of any fundamental change or improvement in their business. Instead, the phenomenon seemed to be a continuation of the Wall Street protests following the ‘08 crash, with everyman investors teaming up to stick it to Wall Street. Even Reddit co-founder Alexis Ohanian, Sr. highlighted how the whole situation was showcasing the power of community.

That community effort is taking a tangible toll on Wall Street, with Reuters reporting that investors have lost some $70.87 billion as a result of their short positions on US companies. GameStop makes up a sizable portion of those loses, coming in at $1.03 billion, Bed Bath & Beyond, meanwhile, accounts for $600 million.

It remains to be seen where this saga will end but, now that everyman traders have had a taste of the power they can wield, it’s hard to imagine stock trading will ever be the same.

Short-Seller Losses Top $70 Billion In the War on Wall Street
Matt Milano

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Lilium Puts Florida On the Forefront of Electric Air Taxi Industry

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Lilium Puts Florida On the Forefront of Electric Air Taxi Industry

Lilium, a company focused on all-electric, vertical take-off and landing (eVTOL) craft, has signed a deal for 10 vertiports in Florida.

Lilium has been working to make electric air taxis a reality. The company told Business Insider in 2019 that flights could be as cheap as $70. The company has now moved one step closer to deployment, partnering with Spanish infrastructure firm Ferrovial to build 10 vertiports throughout Florida.

The locations will ensure widespread coverage for the state’s residents.

“Our strategy to bring high-speed transportation networks to an entire region is being brought to life in Florida, and Ferrovial is the ideal partner with their unrivalled expertise in airport construction and operations around the globe,” said Dr. Remo Gerber, Chief Operating Officer, Lilium. “Nearly all 20 million Floridians will live within 30 minutes of our vertiports and the 140 million annual visitors to the Sunshine State will have a high-speed option available to travel to their destinations.”

“We are delighted to partner with Lilium in this big step towards new ways of achieving air mobility and sustainable infrastructure. Our partnership will deliver a uniquely different end-to-end passenger experience,” said Jorge Gil, CEO Ferrovial Airports.

Lilium’s jet uses 36 electric jet engines to provide thrust, giving it a speed of 186 mph. Taking off, the jet is only as loud as a passing truck, and completely inaudible from the ground once it reaches 400 meters. Because they’re electric, Lilium’s jets are much simpler than traditional designs, having roughly the same number of parts as the average family car.

It appears Lilium may have the right combination of features, performance and cost to finally make air taxies a success.

Lilium Puts Florida On the Forefront of Electric Air Taxi Industry
Matt Milano

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Microsoft Azure Will Be Bigger Than Office In 2022

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Microsoft Azure Will Be Bigger Than Office In 2022

Microsoft Azure is growing by leaps and bounds, with at least one analyst predicting it will eclipse Office by 2022.

Microsoft’s cloud platform has been on a tear, outpacing the industry’s growth and contributing to the company’s most recent stellar quarter. Despite being in second place behind AWS, Azure already makes up a larger portion of Microsoft’s business than its venerable Windows family of products.

According to CNBC, Piper Sandler analyst Brent Bracelin has said Azure is well on its way to eclipsing Microsoft Office, becoming the single biggest source of revenue for the company. Azure has already surpassed Office 365, but should surpass 365 and traditional licenses combined in 2022.

“We have quarterly Azure revenue of $11.8B by June 2022 (eclipsing Office all-in revenue of $10.9B for the first time),” Bracelin told CNBC in an email on Wednesday.

Azure’s growth — growing importance — is a validation of Microsoft CEO Satya Nadella’s strategy. Since taking the helm, Nadella has changed the entire focus of the company. Microsoft was once known for vigorously protecting its Windows and Office platforms. Under Nadella, however, Microsoft has become far more open, working to provide its software on virtually all the major platforms. Nadella’s goal has been to provide the best experience…regardless of a person or organization’s platform of choice. A big part of that strategy has been Microsoft’s emphasis on Azure.

In view of Azure’s growth, it’s clear Nadella knew exactly what he was doing when he helped Microsoft pivot to the cloud.

Microsoft Azure Will Be Bigger Than Office In 2022
Matt Milano

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GM Commits to All-Electric Light-Duty Vehicles By 2035

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GM Commits to All-Electric Light-Duty Vehicles By 2035

GM has become the latest company to commit to an all-electric light-duty lineup by 2035, with the goal of being carbon neutral by 2040.

Automakers around the globe are embracing electric vehicle (EV) technology, with everyone from Subaru to Bentley committing to phasing out fossil fuels. In the US, President Biden’s action to rejoin the Paris Agreement is placing a renewed emphasis on combating climate change. In addition, President Biden has committed to replacing the entire federal vehicle fleet with American-made EVs.

Given the groundswell of support, it’s not surprising GM has now become the latest automaker to embrace EVs, vowing to sell only emissions-free, light-duty EVs by 2035.

“General Motors is joining governments and companies around the globe working to establish a safer, greener and better world,” said Mary Barra, GM Chairman and CEO. “We encourage others to follow suit and make a significant impact on our industry and on the economy as a whole.”

The company has also committed to becoming carbon neutral in both its products and operations by 2040.

“With this extraordinary step forward, GM is making it crystal clear that taking action to eliminate pollution from all new light-duty vehicles by 2035 is an essential element of any automaker’s business plan,” said Environmental Defense Fund President Fred Krupp. “EDF and GM have had some important differences in the past, but this is a new day in America — one where serious collaboration to achieve transportation electrification, science-based climate progress and equitably shared economic opportunity can move our nation forward.”

GM Commits to All-Electric Light-Duty Vehicles By 2035
Matt Milano

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Robinhood Blocks GameStop Trading, Faces Backlash

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Robinhood Blocks GameStop Trading, Faces Backlash

Robinhood has weighed in on the war on Wall Street, blocking buys of GameStop, AMC, Blackberry and others, and facing backlash for it.

Day traders have been waging war against Wall Street, targeting stocks institutional investors have recommended shorting. The traders have been using Reddit to encourage others to buy those stocks, pumping them to record heights. GameStop surged as high as $247 from the $18 it was sitting at a couple of weeks ago.

The end result has been staggering losses by Wall Street investors who had shorted those stocks, in many cases being forced to buy them back at much higher prices. The situation has even caught the attention of the White House and Treasury Department.

Meanwhile, Wall Street investors have denounced the phenomenon, saying it’s not based on facts or the merits of the companies’ performance. Instead, the situation seems to be the latest example of community activism, fueled by frustration over how established institutions have done business.

Reddit co-founder Alexis Ohanian, Sr. made that point on Twitter:

this feels really personal for a LOT of people, tracing back to the 2008 crisis & recession in particular. I believe this has snowballed into something bigger and unprecedented. As I've said for over a decade now: Community is still vastly undervalued.

— Alexis Ohanian Sr. 7️⃣7️⃣6️⃣ (@alexisohanian) January 28, 2021

Stock trading app Robinhood has taken action, blocking trades of $AAL, $AMC, $BB, $BBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG. Needless to say, users are outraged, with some filing SEC complaints and others jumping ship for competing platforms, such as CashApp.

Robinhood may find itself reaping the same collective whirlwind Wall Street has been on the receiving end of, hurting its own business.

Robinhood Blocks GameStop Trading, Faces Backlash
Matt Milano

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SolarWinds Hack Was Supply Chain Attack, Says Datadog CEO

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SolarWinds Hack Was Supply Chain Attack, Says Datadog CEO

“What’s interesting here about the SolarWinds hack, in particular, is that it’s what’s called a supply chain attack,” says Datadog CEO Olivier Pomel. “This means the attack was made on the code that was shipped to the SolarWinds customer. Then there is this new notion in security called shifting left. By left, it means is closer to the developer and earlier in the development process.”

Datadog CEO Olivier Pomel discusses how the SolarWinds hack signals an increased focus by hackers to target software earlier in its development:

The SolarWinds hack was definitely a very big one. It’s not especially surprising to see new important hacks like this one but definitely a very impactful one. What it makes very clear is that there’s going to be even more of an arms race when it comes to security. It’s not surprising companies are transforming. They’re having more and more of their activity that is happening online is happening in software. So there’s much more that can be done by attacking that software.

What we do is we gather as many signals as possible across observability and monitoring. This is the way we come from and across security. What’s interesting here about the SolarWinds hack, in particular, is that it’s what’s called a supply chain attack. This means the attack was made on the code that was shipped to the SolarWinds customer. Then there is this new notion in security called shifting left. By left, it means is closer to the developer and earlier in the development process.

There’s something really interesting there when it relates to us (Datadog) in how we can solve the problem for our customers by bringing security earlier into the development process and tied in more to the operations and the development of the application. That’s definitely something that we’re investing in and something that we think is going to be a big area of investment for customers in the future.

SolarWinds Hack Was Supply Chain Attack, Says Datadog CEO Olivier Pomel

SolarWinds Hack Was Supply Chain Attack, Says Datadog CEO
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Baidu Gets Permission to Test Self-Driving Cars in California

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Baidu Gets Permission to Test Self-Driving Cars in California

Baidu is the latest company to receive permission to test self-driving cars in California.

Self-driving and autonomous vehicles are considered one of the next big steps in the automotive industry. Virtually every manufacturer is working on some kind of autonomous software, with varying degrees of success.

Baidu is the latest to company ready to test its self-driving tech, and California has granted it a permit to test three autonomous cars, without a driver behind the wheel, according to Reuters. Baidu is the sixth company to receive a permit to test without a driver, with a total of 58 companies cleared to test self-driving cars with a backup driver.

As Reuters points out, Baidu is currently testing some 500 self-driving vehicles, although most are in China. The company has also mostly tested vehicles with a backup driver, and has yet to announce when it will start testing vehicles with no driver.

Baidu Gets Permission to Test Self-Driving Cars in California
Matt Milano

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HPE Wins Contract to Build Supercomputer For NCAR

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HPE Wins Contract to Build Supercomputer For NCAR

Hewlett Packard Enterprise (HPE) has won a $35+ million contract to build one of the fastest supercomputers for the National Center for Atmospheric Research (NCAR).

NCAR is US “federally funded R&D center focused on advancing knowledge of geosciences, including meteorology, climate change, and solar activity.” The organization’s work is more important than ever as the threat from climate change continues to increase.

The new system will be housed at NCAR’s Wyoming Supercomputing Center in Cheyenne. The system will be a major upgrade over the existing one, providing almost 3.5X faster speed. The supercomputer will go operational in 2022 and help NCAR create digital models of various weather effects to better understand them.

“This new system, powered by Hewlett Packard Enterprise, is a major step forward in supercomputing power, providing the scientific community with the most cutting-edge technology to better understand the Earth system,” said Anke Kamrath, director, Computational and Information Systems Laboratory at the National Center of Atmospheric Research. “The resulting research will lead to new insights into potential threats ranging from severe weather and solar storms to climate change, helping to advance the knowledge needed for improved predictions that will strengthen society’s resilience to potential disasters.”

HPE Wins Contract to Build Supercomputer For NCAR
Matt Milano

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iPhone 12 Takes a Bite Out of Samsung’s Mobile Business

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iPhone 12 Takes a Bite Out of Samsung’s Mobile Business

Samsung has reported its quarterly results and, while its overall revenue increased, its mobile business has taken a hit…thanks largely to the iPhone 12.

Samsung reported a fourth-quarter revenue increase of 2.8%. The company’s results were driven largely by its display and memory business, not surprising given that both likely saw significant increases as a result of the pandemic. In fact, the Display Panel Business saw its highest-ever quarterly earnings.

Unfortunately for Samsung, its mobile business was less impressive.

While overall market demand increased QoQ as a result of strong year-end demand and gradual economic recovery, the Mobile Communications Business saw revenue and profits decrease QoQ on intensifying competition and higher marketing expenses. However, the Company maintained a double-digit profit margin by improving the cost structure through measures such as component standardization.

It’s a safe bet the “intensifying competition” Samsung saw was the release of the iPhone 12, especially since Apple’s iPhone revenue reached an all-time high on iPhone 12 demand.

Moving forward, Samsung says it will focus on its flagship lines, such as Galaxy S21 series, as well as foldable models, such as the Galaxy Z Fold and Galaxy Z Flip.

iPhone 12 Takes a Bite Out of Samsung’s Mobile Business
Matt Milano

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Driving Game Growth: A day-one roundup of the all-digital GamesBeat event

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From privacy changes to evolutions in mobile game monetization, and more, here’s a taste of each of all the sessions at Driving Game Growth.Read More

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Carriers Go All-In On Mid-Band 5G

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Carriers Go All-In On Mid-Band 5G

The FCC’s mid-band spectrum auction has concluded its initial phase, and the bidding reveals carriers are all-in on mid-band.

Throughout much of the world, mid-band spectrum has been the cornerstone of 5G rollouts. In the US, however, the Big Three carriers have focused on low and high-band. The only exception is T-Mobile, which inherited a wealth of mid-band spectrum from its acquisition of Sprint, and immediately began deploying it.

As Forbes’ Bob O’Donnell points out, all three carriers have spent big at the FCC auction, speaking volumes about their view of the 5G market. Verizon has spent approximately $30 billion, AT&T has spent $20 billion and T-Mobile has spent $10 billion.

As O’Donnell points out, regardless of how much each carrier has been touting their low-band network for its coverage, or their high-band mmWave network for its speed, mid-band is clearly where it’s at. Mid-band is widely seen as the sweet spot for 5G, offering a good balance of coverage and speed. In fact, T-Mobile has even demonstrated speeds of 1 Gps using its current mid-band spectrum. At the same time, mid-band offers far better coverage than the couple of hundred meters that mmWave offers.

Another benefit of US carriers rallying around mid-band is that it helps phone and cellphone radio makers consolidate the number of frequencies they have to support.

Either way, the investment is good news for customers.

Carriers Go All-In On Mid-Band 5G
Matt Milano

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How pandemic socialization trends have accelerated the move into virtual spaces

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In "Breaking the Fourth Wall," panelists talk about how pandemic socialization trends are leading the charge into the metaverse.Read More

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How pandemic socialization trends have accelerated the move into virtual spaces

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In "Breaking the Fourth Wall," panelists talk about how pandemic socialization trends are leading the charge into the metaverse.Read More

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Apple Posts All-Time Record Revenue

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Apple Posts All-Time Record Revenue

Apple has obliterated estimates, posting an all-time record revenue for its Q1 earnings report.

Analysts were expecting the company to post $103.3 billion in revenue, far less than the whopping $111.4 billion Apple reported. That represents a 21% increase, year-over-year, coming in at $1.68 per share, an increase of 35%.

The company says international sales accounted for 64% of the company’s revenue, with China sales contributing a big portion. Sales in China increased 57%, coming in at $21.3 billion.

iPhone revenue reached an all-time high of $65.5 billion, rising 17%, driven by demand for the 5G iPhone 12. Apple’s diversification strategy is paying off as well, with the company’s services revenue hitting $15.8 billion, an increase of 24.2%. The company says it now has 620 million subscribers to its services, beating its goal of having 600 million at the end of 2020.

“This quarter for Apple wouldn’t have been possible without the tireless and innovative work of every Apple team member worldwide,” said Tim Cook, Apple’s CEO. “We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season. We are also focused on how we can help the communities we’re a part of build back strongly and equitably, through efforts like our Racial Equity and Justice Initiative as well as our multi-year commitment to invest $350 billion throughout the United States.”

“Our December quarter business performance was fueled by double-digit growth in each product category, which drove all-time revenue records in each of our geographic segments and an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “These results helped us generate record operating cash flow of $38.8 billion. We also returned over $30 billion to shareholders during the quarter as we maintain our target of reaching a net cash neutral position over time.”

Apple Posts All-Time Record Revenue
Matt Milano

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Sling TV Raises Prices, Adds DVR Storage

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Sling TV Raises Prices, Adds DVR Storage

One of the best deals in streaming is getting a bit more expensive, as Sling TV is announcing a price hike combined with larger DVR options.

Streaming TV services have been raising prices across the board. YouTube TV announced increases in July, Hulu in November and fuboTV announced a pricing bump when it struck a deal to carry Disney’s catalog. In fact, price increases among streaming providers have become so common that T-Mobile specifically advertised “no exploding plans” when it unveiled its TVision streaming service.

Long considered one of the cheapest streaming options available, Sling TV is joining the ranks of its competitors in raising prices. The company has announced that new customers will be charged $35 for either the Sling Orange or Sling Blue plans, up $5/mo over previous pricing. When bundled together, the two packages will cost $50 per month, also an increase of $5.

Many of the company’s various extra packages are also increasing $1 or $2 per month. Existing customers will not seen any price increases through July 2021, as part of the company’s 1-Year Price Guarantee.

“Unfortunately, we are forced to raise prices because the television networks keep charging us more, but we fight hard to get the best deal for our customers. The proof of our commitment is apparent, as SLING TV is still the best deal in the market, keeping our prices much lower than cable and other live streaming services. SLING TV customers can rest assured that we’ll continue to offer the best combination of live news, sports and entertainment cable channels at the best value,” said Michael Schwimmer, group president, SLING TV.

Fortunately, the company is also addressing one of its biggest pain points, namely the size of its included DVR service. Previously Sling only offered 10 GB for free, with 50 GB available for $5 extra. With other services starting at 100 GB and going up to 1,000 GB, or even unlimited, Sling’s DVR options were anemic, to put it mildly. With the new plans, all customers will now have 50 GB of DVR storage for free, with $5 bringing that up to 200 GB.

“A robust DVR feature is a must-have for a premium entertainment experience — customers have told us they want more, and we delivered,” said Schwimmer. “By more than quadrupling DVR for all customers at no charge, SLING TV continues to provide the best value for pay-TV in the industry.”

Sling TV Raises Prices, Adds DVR Storage
Matt Milano

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Day Traders Continue to Pump Stocks, WH and Treasury Monitoring

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Day Traders Continue to Pump Stocks, WH and Treasury Monitoring

Day traders continued to take on Wall Street investors, pumping stocks traditional investors have been shorting.

GameStop made headlines when its stock surged after Citron Research’s Andrew Left urged investors to short it. Traders took to Reddit to urge others to buy, causing the stock to hit as high as $247 in after hours trading Tuesday, a far cry from the $18 it was at a couple of weeks ago.

GameStop isn’t the only company to see its stock take off. AMC has risen some 310%, Blackberry 24% and Bed Bath & Beyond 46%, according to Business Insider. It appears that day traders are engaging in a new level of activism, targeting stocks that institutional investors are shorting. The end result is volatile trading that has caused traditional investors to suffer heavy losses.

The situation is not going unnoticed, with WH Press Secretary Jen Psaki saying the White House and Treasury Department were monitoring the situation.

Day Traders Continue to Pump Stocks, WH and Treasury Monitoring
Matt Milano

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Just 11% of Companies Expect All Staff to Return to the Office

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Just 11% of Companies Expect All Staff to Return to the Office

A new report sheds more light on the state of remote working, suggesting permanent adoption may be more widespread.

According to a report by the National Association for Business Economics’ (NABE), only 11% of those surveyed expect all of their employees to return to the office once the pandemic is over.

The NABE’s report echoes research from other organizations that shows a permanent disruption occurring in the workforce. One recent report showed that 50% of workers would give up vacation days to continue working remotely, while another showed that as many as 29% would quit instead of return to the office.

Obviously, some industries are more flexible than others, with the NABE’s report showing that companies in the services industry were most likely to want a full return to the office.

Either way, the pandemic has forced companies and workers alike to rethink their work/life balance, and it seems likely that flexibility will continue to be an important factor long after the pandemic is over.

Just 11% of Companies Expect All Staff to Return to the Office
Matt Milano

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iPhone and iPad Users Should Run Software Update immediately

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iPhone and iPad Users Should Run Software Update immediately

iPhone and iPad user should run Software Update immediately and install the latest operating system (OS) version, according to Apple.

Apple released iOS and iPadOS 14.4 on Tuesday, and the update addressed security issues that may have been actively exploited. The release notes don’t go into detail about the specifics of the security issues, saying that “Apple doesn’t disclose, discuss, or confirm security issues until an investigation has occurred and patches or releases are available.”

Apple does say the OS update address an issue with the kernel, as well as with WebKit. In the case of the kernel fix, Apple says “a malicious application may be able to elevate privileges. Apple is aware of a report that this issue may have been actively exploited.”

Similarly, in regard to the WebKit issue, Apple says “a remote attacker may be able to cause arbitrary code execution. Apple is aware of a report that this issue may have been actively exploited.”

As a result, all iPhone and iPad users should update to version 14.4 immediately.

iPhone and iPad Users Should Run Software Update immediately
Matt Milano

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Good Day For GameStop Investors As Stock Hits $247

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Good Day For GameStop Investors As Stock Hits $247

GameStop is having a wild day, as individual investors have helped drive the price to $247, up from $18 just a couple of weeks ago

Like many brick-and-mortar companies, GameStop has been struggling with the effects of its customers transitioning to online buying. The company has been forced to close hundreds of stores and faces an uncertain future.

As a result, many investors started short-selling the stock. Andrew Left of Citron Research, in particular, was one of the most vocal in pushing for investors to short-sell. In response, individual investors on Reddit began grabbing up shares of the stock, causing its price to soar. In fact, its price starting rising so much that many short-sellers were forced to buy it back at higher prices.

Elon Musk even got in on the action, tweeting about the phenomenon.

Gamestonk!! https://t.co/RZtkDzAewJ

— Elon Musk (@elonmusk) January 26, 2021

The stock hit $159.18 Monday, before dropping to close at $76.79. On Tuesday the stock rose $147.98, before skyrocketing to $247 in after-hours trading.

Ultimately, GameStop’s fundamentals are unchanged. This episode, however, shows the power of individual investors banding together against Wall Street, and adds an uncertain factor to future investor recommendations.

Good Day For GameStop Investors As Stock Hits $247
Matt Milano

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Remote Work IT Spending Will Hit $332.9 Billion In 2021

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Remote Work IT Spending Will Hit $332.9 Billion In 2021

Gartner is predicting companies will spend some $332.9 billion on remote work IT in 2021 as the digital transformation continues.

The coronavirus pandemic has sparked an unprecedented digital transformation, as organizations have turned to remote work, schools have turned to remote learning and individuals have had to rely on videoconferencing to stay in touch.

That trend is expected to continue full force for the next several years. In fact, Gartner predicts businesses will have to accelerate their digital transformation by at least five years through 2024, as they continue to deal with a permanently altered workforce — one where remote work is part of the new reality.

“There are a combination of factors pushing the devices market higher,” said John-David Lovelock, distinguished research vice president at Gartner.. “As countries continue remote education through this year, there will be a demand for tablets and laptops for students. Likewise, enterprises are industrializing remote work for employees as quarantine measures keep employees at home and budget stabilization allows CIOs to reinvest in assets that were sweated in 2020.”

As a result, Gartner predicts remote work-related global IT spending will reach $332.9 billion in 2021, an increase of 4.9% from 2020.

“Digital business represents the dominant technology trend in late 2020 and early 2021 with areas such as cloud computing, core business applications, security and customer experience at the forefront. Optimization initiatives, such as hyperautomation, will continue and the focus of these projects will remain on returning cash and eliminating work from processes, not just tasks,” said Mr. Lovelock.

Gartner’s report is the latest evidence that remote work has become a permanent part of society, with workers continuing to demonstrate their preference for it.

Remote Work IT Spending Will Hit $332.9 Billion In 2021
Matt Milano

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FCC Will Investigate East Coast Internet Outage

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FCC Will Investigate East Coast Internet Outage

A large portion of the East Coast, from D.C. to Boston, was hit with an outage Tuesday and the FCC plans to find out why.

Around 11:00 AM Tuesday, users of multiple companies began reporting outages along the East Coast. Verizon soon announced a fiber line had been cut in Brooklyn. While the company did not say that was responsible for the widespread outage, it no doubt played a significant role. Unfortunately, however, details are still hard to come by.

Acting FCC Chairwoman Jessica Rosenworcel wants the FCC to get to the bottom of the issue, especially given the widespread impact on remote workers.

We have seen reports of internet-related outages on the East Coast, making it difficult for people to work remotely and go to school online. The @FCC Public Safety and Homeland Security Bureau is working to get to the bottom of what is going on.

— Jessica Rosenworcel (@JRosenworcel) January 26, 2021

We will continue monitoring and provide updates as more information becomes available.

FCC Will Investigate East Coast Internet Outage
Matt Milano

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Microsoft Trounces Earnings Forecast on Cloud, ‘Digital Transformation’

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Microsoft Trounces Earnings Forecast on Cloud, ‘Digital Transformation’

Microsoft has trounced earnings estimates on strong cloud and PC results, in what CEO Satya Nadella called “a second wave of digital transformation.”

Just a day after Wedbush raised its Microsoft target price, the company smashed expectations with its Q2 earnings. In particular, cloud performance and PC sales helped propel results.

The company reported revenue of $43.1 billion, an increase of 17% and handily beating analysts’ estimates of $40.2 billion. Net income was $15.5 billion, an increase of 33%.

The company’s Intelligent Cloud business accounted for $14.6 billion, a 23% increase. Similarly, the More Personal Computing division accounted for $15.1 billion, an increase of 14%.

“What we have witnessed over the past year is the dawn of a second wave of digital transformation sweeping every company and every industry,” said Satya Nadella, chief executive officer of Microsoft. “Building their own digital capability is the new currency driving every organization’s resilience and growth. Microsoft is powering this shift with the world’s largest and most comprehensive cloud platform.”

“Accelerating demand for our differentiated offerings drove commercial cloud revenue to $16.7 billion, up 34% year over year,” said Amy Hood, executive vice president and chief financial officer of Microsoft. “We continue to benefit from our investments in strategic, high-growth areas.”

Microsoft Trounces Earnings Forecast on Cloud, ‘Digital Transformation’
Matt Milano

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Apple Shakeup Has Hardware Chief Taking On New Secret Project

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Apple Shakeup Has Hardware Chief Taking On New Secret Project

Apple has announced a shakeup of its executive team, with hardware chief Dan Riccio taking on a new project.

Dan Riccio has been with Apple since 1998 as a leader on the Product Design team. From there he became vice president of iPad Hardware Engineering in 2010, and then executive team leader of Hardware Engineering in 2012. Riccio now moves on as a vice president of engineering. Most significantly, Apple says his new role will involving working on a new project and reporting directly to CEO Tim Cook.

In the meantime, John Ternus will take over Apple’s Hardware Engineering in place of Riccio.

“Every innovation Dan has helped Apple bring to life has made us a better and more innovative company, and we’re thrilled that he’ll continue to be part of the team,” said Tim Cook, Apple’s CEO. “John’s deep expertise and wide breadth of experience make him a bold and visionary leader of our Hardware Engineering teams. I want to congratulate them both on these exciting new steps, and I’m looking forward to many more innovations they’ll help bring to the world.”

“Working at Apple has been the opportunity of a lifetime, spent making the world’s best products with the most talented people you could imagine,” said Riccio. “After 23 years of leading our Product Design or Hardware Engineering teams — culminating with our biggest and most ambitious product year ever — it’s the right time for a change. Next up, I’m looking forward to doing what I love most — focusing all my time and energy at Apple on creating something new and wonderful that I couldn’t be more excited about.”

While Apple is not giving any hints about what project Riccio will be working on, one possibility is the Apple Car. The project is currently being led by Apple AI chief John Giannandrea, but it seems likely Riccio’s vast experience in hardware engineering would be an invaluable asset to the project. Alternatively, Riccio could be helming an entirely unrelated, yet to be revealed project.

Apple Shakeup Has Hardware Chief Taking On New Secret Project
Matt Milano

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East Coast Outage Impacts Google, Slack, Verizon, Zoom, AWS

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East Coast Outage Impacts Google, Slack, Verizon, Zoom, AWS

A major outage is impacting customers on the East Coast, with some of the most critical companies being affected.

Users of Google, Slack, Verizon, Zoom, AWS and others began reporting issues around 11:00 AM Tuesday. According to DownDetector, the issues seem to be localized to an area ranging from Washington, D.C. up the cost to Boston.

Replying to one customer on Twitter, Verizon seemed to indicate the issue was the result of a fiber line being cut in Brooklyn, NY.

The entire verizon network hinges on a single fiber line? https://t.co/kXjVvXyGUU

— Gary Matthews (@phuhcue1) January 26, 2021

As Verizon says, there is no estimated time for repair. Needless to say, in the meantime, the issue is wreaking havoc on remote workers and schoolchildren.

East Coast Outage Impacts Google, Slack, Verizon, Zoom, AWS
Matt Milano

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Amazon’s Alexa Has ‘Hunches’ and Acts On Them

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Amazon’s Alexa Has ‘Hunches’ and Acts On Them

Amazon’s Alexa has crossed a significant milestone, having “hunches” regarding what needs to be done and taking the appropriate action.

As smart assistants become more ubiquitous, a key feature is the ability to predict what a person will want, when they will want it and take preemptive action. This is especially important for Amazon as Alexa’s head scientist, Rohit Prasad, is arguing that AI should be judged based on how helpful it is, rather than the old Turing Test.

According to the company, Alexa now learns about a person’s habits and forms “hunches” about what they want to do. For example, if a person normally turns off a particular light before going to bed, but forget to one night, Alexa can either remind them or automatically turn it off. In contrast, if a person leaves a particular light on, such as a porch light, Alexa will leave it on as well.

Amazon says the new feature will allow Alexa to “proactively turn off the lights, adjust the thermostat, turn down the water heater, or start the robotic vacuum when Alexa has a hunch that everyone is away from home or asleep.”

Users can enable or disable where Alexa proactively acts on the Hunches feature, although it’s a safe bet many customers will enable it.

Amazon’s Alexa Has ‘Hunches’ and Acts On Them
Matt Milano

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Vimeo Raises $300 Million In Equity, Valued At $5.7 Billion

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Vimeo Raises $300 Million In Equity, Valued At $5.7 Billion

Vimeo has raised $300 million in equity, raising its valuation to some $5.7 billion as it prepares to become independent.

IAC announced in December its plans to spin Vimeo off as an independent, publicly traded company. As a video hosting platform, and YouTube’s prime competitor, Vimeo has experienced significant growth. In fact, the company saw 57% year-over-year revenue growth in December.

As Vimeo prepares to go public, the new funding will provide the capital it needs to continue its growth and innovation.

“As the world embraces video like never before, Vimeo is in an incredibly strong position to help more businesses take advantage of this powerful medium,” said Anjali Sud, CEO, Vimeo. “We have built an industry-leading solution that the market needs, and we intend to move swiftly to bring our professional-quality tools to millions more users.”

“Vimeo is the quintessential IAC success story,” said Joey Levin, CEO, IAC. “With patience, discipline, and ambition, Vimeo has transformed from a tiny seed to a large global enterprise making its mark on the world, and Anjali Sud is an exceptional leader.”

Vimeo Raises $300 Million In Equity, Valued At $5.7 Billion
Matt Milano

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Verizon Now Offers Unlimited 5G On Prepaid Plans

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Verizon Now Offers Unlimited 5G On Prepaid Plans

Verizon has announced that unlimited 5G, both Ultra Wideband and nationwide, is now available for its prepaid customers.

Prepaid plans make up an important part of each carrier’s subscriber base and Verizon is improving its service for its customers. The company has made unlimited 5G available, in both Ultra Wideband and nationwide flavors.

Verizon’s Ultra Wideband is its high-band, mmWave 5G. The fastest flavor of 5G, mmWave offers speeds measured in gigabits. In contrast, the company’s nationwide 5G uses the same spectrum as its 4G LTE, but offers far better coverage than its mmWave counterpart.

With 4G LTE and 5G Nationwide included in all Verizon Prepaid plans, the new Verizon Prepaid Unlimited option with 5G Ultra Wideband delivers more value for customers. The plan offers 5G Ultra Wideband connectivity starting at $75 per month with the potential to lower those costs to $60 per month. Customers who stay with Verizon can enjoy savings of $5 per month with Auto Pay, $5/mo after three months of service and an additional $5/mo after nine months of service3. Existing Verizon Prepaid customers who switch to the new Unlimited plan (or other prepaid plan with loyalty discounts) are also eligible for monthly savings on Verizon Prepaid lines that have already been in service 3 to 9 months.

The announcement is good news for Verizon’s prepaid subscribers.

Verizon Now Offers Unlimited 5G On Prepaid Plans
Matt Milano

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Gartner: ‘Responsible AI a Societal Concern’

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Gartner: ‘Responsible AI a Societal Concern’

Gartner has released its Predicts 2021 reports and the outlook for artificial intelligence (AI) includes some troubling growing pains.

AI is one of the fastest growing industries, and one of the most controversial. Experts have come out on all sides of the debate, with some believing it will help solve some of mankind’s most elusive challenges.

Others, including Elon Musk, believe it represents one of the biggest existential threats to humanity. Recent research suggests that a super-intelligent AI will be impossible to control, further raising concerns.

Gartner’s latest reports indicate there are a number of more pressing issues that could pose challenges for AI researchers and the industry at large. Gartner highlights five specific ways AI will impact society:

By 2025, the concentration of pretrained AI models among 1% of AI vendors will make responsible AI a societal concern.

In 2023, 20% of successful account takeover attacks will use deepfakes to socially engineer users to turn over sensitive data or move money into criminal accounts.

By 2024, 60% of AI providers will include a means to mitigate possible harm as part of their technologies.

By 2025, 10% of governments will use a synthetic population with realistic behavior patterns to train AI while avoiding privacy and security concerns.

By 2025, 75% of conversations at work will be recorded and analyzed, enabling the discovery of added organizational value and risk.

These issues illustrate the need for companies and organizations to take the necessary steps now to ensure AI is a force for good.

Gartner: ‘Responsible AI a Societal Concern’
Matt Milano

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Apple Says to Keep iPhone 12 and MagSafe ‘Safe Distance’ From Pacemaker

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Apple Says to Keep iPhone 12 and MagSafe ‘Safe Distance’ From Pacemaker

Apple has warned the iPhone 12 and MagSafe accessories should be kept a “safe distance away” from pacemakers.

Pacemakers can be affected by magnetic fields. That has caused some concern the iPhone 12 may pose more of a risk, since it has more magnets than previous models.

Apple has updated its support document to warn users of potential issues. The company doesn’t expect the new models to be more dangerous, but recommends an abundance of caution.

Though all iPhone 12 models contain more magnets than prior iPhone models, they’re not expected to pose a greater risk of magnetic interference to medical devices than prior iPhone models.

Medical devices such as implanted pacemakers and defibrillators might contain sensors that respond to magnets and radios when in close contact. To avoid any potential interactions with these devices, keep your iPhone and MagSafe accessories a safe distance away from your device (more than 6 inches / 15 cm apart or more than 12 inches / 30 cm apart if wirelessly charging). But consult with your physician and your device manufacturer for specific guidelines.

iPhone 12 users with pacemakers would do well to follow Apple’s advice and consult with their physician.

Apple Says to Keep iPhone 12 and MagSafe ‘Safe Distance’ From Pacemaker
Matt Milano

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Andreessen Horowitz Hires Maggie Leung As It Doubles Down On Media Strategy

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Andreessen Horowitz Hires Maggie Leung As It Doubles Down On Media Strategy

Andreessen Horowitz (a16z) has hired Maggie Leung, a well-known journalist, as executive editor as the company doubles down on its media efforts.

Venture capitalists are increasingly looking to handle more of their own media, rather than relying on the press. Andreessen Horowitz has been on the leading edge of that, with a strong focus on speaking directly to its audience from day one. Blog posts, thought pieces, podcasts, op-eds, videos and more have all been an important part of a16z.

The company is expanding its efforts with the hiring of Maggie Leung. Leung previously spent some 20 years as a journalist with The Washington Post, The Wall Street Journal and CNN. Most recently, she built NerdWallet’s content operation from the ground up.

“Simply put, when you find someone like Maggie, you have to work with them,” writes Margit Wennmachers.

“And of course Maggie is joining our outstanding editorial team, led by our wonderful managing editor Amelia Salyers, who hired many of the editors, and of course, the super-talented and incomparable Sonal Chokshi, who continues to guide our voice and editorial vision as our editor in chief. Every piece of content you see or hear has been shaped and edited by the editorial team.”

Andreessen Horowitz Hires Maggie Leung As It Doubles Down On Media Strategy
Matt Milano

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Wedbush Raises Microsoft Target On ‘Azure Growth Remaining Brisk’

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Wedbush Raises Microsoft Target On ‘Azure Growth Remaining Brisk’

Just four weeks after saying Microsoft has “unparalleled” cloud advantages, Wedbush has raised its target price from $260 to $270.

Microsoft has been making moves in the cloud industry, outpacing the industry’s growth rate and posing an ever bigger challenge to AWS. In particular, the company’s vast installed base give it a huge advantage in the cloud market, as existing customers have a sense of familiarity with the company’s products and ecosystem.

On the verge of Microsoft’s earnings on Tuesday, Wedbush analyst Dan Ives said the remote work environment is also working to boost Microsoft Azure, according to Business Insider.

“This current work-from-home environment is further catalyzing more enterprises to make the strategic cloud shift with Microsoft across the board with Azure growth remaining brisk,” Ives said in a note to clients.

Wedbush has raised its target to $270, but see $300 per share as a distinct bull-case possibility. According to BI “Ives estimates that Microsoft has only met 35% of the market for its cloud product and that permanent telework will accelerate other companies’ deployments of cloud-computing deals.”

The report is good news for Microsoft as all eyes look to its earnings report Tuesday.

Wedbush Raises Microsoft Target On ‘Azure Growth Remaining Brisk’
Matt Milano

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T-Mobile Takes 5G Speed Crown From Verizon

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T-Mobile Takes 5G Speed Crown From Verizon

T-Mobile has taken the 5G speed crown from Verizon, according to OpenSignal’s latest report.

T-Mobile, Verizon and AT&T are rolling out their 5G networks as fast as possible. Each company, however, has approached the rollout differently, based largely on the spectrum they had available.

T-Mobile was the first to roll out its nationwide network, using its low-band 600 MHz spectrum. The company also rolled out its high-band mmWave in cities and urban areas. Once the company completed its acquisition of Sprint, it started rolling out Sprint’s mid-band spectrum — considered the sweet spot for 5G — to bridge the gap between its nationwide and high-band networks.

AT&T was second with a nationwide network, while also rolling out its own mmWave in more populated areas.

Verizon, on the other hand, focused almost exclusively on its mmWave network in the initial stages. This was because the company did not have enough mid-band spectrum to use. Similarly, the company’s low-band spectrum was tied up with its 4G LTE network. As a result, because mmWave is the fastest variety of 5G, Verizon maintained a healthy lead in 5G speed…at least until now.

According to OpenSignal’s latest report, T-Mobile’s average 5G download speeds were 58.1 Mbps, as opposed to AT&T’s 53.8 and Verizon’s 47.4 Mbps.

Much of the change was due to two factors:

1) T-Mobile’s rollout of mid-band spectrum has significantly raised its average 5G speeds. While low-band may have the best coverage, its speed is only marginally faster than 4G. Mid-band, in contrast, can reach speeds of 1 Gbps.

2) Verizon’s rollout of its own nationwide network has hurt its average speed. This is largely because the company has had to use Dynamic Spectrum Sharing (DSS) to share its 700 MHz spectrum between its 4G and nationwide 5G network. DSS essentially repurposes unused slivers of 4G spectrum to serve 5G devices connected to the tower. Unfortunately for Verizon, because DSS is not as good a solution as having dedicated spectrum, many have found the company’s nationwide 5G is actually slower than its 4G.

5G overage also improved for all three carriers. T-Mobile once again leads the pack, with 30.1% availability. AT&T’s 5G was available 18.8% of the time. Verizon saw the biggest jump to 9.5%. While significantly less than its competitors, it’s a huge improvement over the previous 0.4% availability.

T-Mobile is clearly the company to beat in the 5G race, and OpenSignal’s newest report is just the latest evidence of that.

T-Mobile Takes 5G Speed Crown From Verizon
Matt Milano

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How to Do Diversity Right This Year in Business

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How to Do Diversity Right This Year in Business

2020 was the year of supply chain disruption. After decades of industries striving for leaner supply chains, lockdowns and travel restrictions due to coronavirus blew the system over like a house of cards. As early as February, 70% of US businesses needed to assess their inventory. When lockdowns hit the United States, the general public discovered the shortage of necessary items, like PPE, on the shelf. 

No business has gone completely unaffected by the pandemic. 97% of companies around the globe experienced pandemic-related supply chain disruptions. 76% of companies saw a decline in revenue, the average drop being around 23% compared to pre-pandemic levels. For some businesses, that decrease in revenue is enough to put them out of business. The problem is most prominent for small business, who lack bargaining power and receive less attention compared to large retailers.

Over half the businesses that closed during the pandemic will never open again. Companies across the spectrum were not affected equally; in the first few weeks of the pandemic, 65% of businesses in high rent zip codes laid off staff while only 30% of those in lower rent areas did. Businesses catering to higher income people with unnecessary goods saw a drop in demand as the top quarter of earners cut spending by 17%. Meanwhile, the bottom quarter of earners’ spending went unchanged. Perhaps most troubling, minority business owners saw twice as much a decline in business ownership as their white counterparts in the first three months of the pandemic. Black business ownership dropped by 41%, Latinx by 32%, and Asian by 26%.

These figures represent more than just personal tragedies. Beyond the individual business owners and employees who suffer, these closures could be a setback for racial equality. According to Robert Fairlie, Professor of Economics at the University of California, Santa Cruz, “the negative early-stage impacts [of the pandemic] on minority- and immigrant owned-businesses, if prolonged, may be problematic for broader racial inequality because of the importance of minority businesses for local job creation, economic advancement, and longer-term wealth inequality.”

Just a few months later in 2020, public outrage over racial injustice exploded. The biggest impacts of the protests are on young adults: 70% of Millennials chose to shop with brands that demonstrate diversity and inclusion, 60% of all people said brands’ reaction to protests would influence their buying decisions in the future, and 53% of adults aged 18-34 said they have no desire to work for a firm that failed to speak up during the protests. Businesses ignoring the current social climate run the risk of losing both workers and customers in the long run.
Diversity compliance is out. Embracing diversity as a business strategy is in. Diversity in the workforce leads to more product innovations, new patent filings, and more citations on patents. When companies work with local suppliers, including the minority businesses that remain, communities flourish. Not relying on faraway suppliers also means fewer disruptions caused by faraway lockdowns. Diversity is a positive-sum game, not a zero-sum.

How to Do Diversity Right This Year in Business
Brian Wallace

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Alphabet Workers Announce Global Union Alliance, Alpha Global

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Alphabet Workers Announce Global Union Alliance, Alpha Global

In the wake of US Alphabet workers forming the Alphabet Workers Union (AWU), employees have announced the formation of a global union alliance.

Alphabet has been under increasing scrutiny over its handling of a range of issues, from sexual misconduct to discrimination and equality, as well as the ethical use of technology. Employees took the unprecedented step of creating the AWU, the first of its kind among the biggest tech companies in the US.

Employees have now taken the next step, forming a global union alliance in an effort to address these issues worldwide. Alpha Global has been formed in cooperation with UNI Global Union and includes unions from 10 countries, including the US, UK, Germany, Sweden and Switzerland.

In their joint statement, Alpha Global makes clear its goal is to hold Alphabet accountable.

To build on these advancements and others, many Alphabet workers have started on a path to unionization and collective bargaining. Workers are building democratic organizations to represent their interests, to struggle collectively, to create a structural counterbalance to corporate power, and to build a movement of tech workers across the industry.

A just Alphabet has wide-ranging implications for our democracies and societies. That is why we are joining together to demand fundamental human rights for all workers in Alphabet operations, including the right to form or join a union and the right to bargain collectively.

The statement makes clear the employees believe in the good Alphabet is capable of, but the company must return to some of its early philosophies to achieve that.

Alphabet has long lost its commitment of “Don’t be evil,” but we haven’t. Together, we will hold Alphabet accountable. Together, we will change Alphabet.

Alphabet Workers Announce Global Union Alliance, Alpha Global
Matt Milano

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BP Pivots to Renewables, Slashes Oil Exploration

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BP Pivots to Renewables, Slashes Oil Exploration

BP has reduced its oil exploration to 100 members, down from 700, as it focuses on renewable energy.

With climate change headlining the agendas of many countries, companies around the globe are taking drastic action to adapt and prepare for an economy based on renewable energy. Nowhere is that transformation more drastic than the very industry that has provided the fossil fuels the world has depended on.

BP is among those energy companies leading the charge, thanks to CEO Bernard Looney. Under Looney, the company has been aggressively pivoting to renewable energy and scaling back its oil exploration efforts, according to Reuters. The company is using its existing petroleum business to help fund the transition.

“We are in a harvest mode and what isn’t being said is that BP is going to be a much smaller company without exploration,” a source in BP’s oil and production division said told Reuters.

The company has been hiring staff from Silicon Valley, Toyota, Uber and more in an effort to better understand electric vehicles and other key parts of the renewable energy industry in an effort to help it better compete.

Looney’s efforts are not without risk, however, as some worry the company may prematurely slash its oil income before its investments in renewable energy pay off.

“There is so much internal change that it will be a big job to pick up the organisation and get things going,” a senior employee in the exploration division told Reuters.

There’s no doubt the company is experiencing challenges with its transformation, with the stock at its lowest point in 25 years. Looney is adamant, however, that BP must change in order to remain relevant.

“Everywhere I have been, inside BP as well as outside BP, I have come away with one inescapable conclusion, and that is that we have got to change,” he said in a webcast.

If Looney can pull off his vision, BP will be far better positioned than competitors who are trying to hang on to a dying industry as long as possible.

 

BP Pivots to Renewables, Slashes Oil Exploration
Matt Milano

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IMVU relaunches as Together Labs, raises $35 million

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IMVU has relaunched as Together Labs and raised $35 million. The company is also launching WithMe to target user-generated content.Read More

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Electric Vehicles Nearing Adoption Tipping Point

WebProNews
Electric Vehicles Nearing Adoption Tipping Point

Electric vehicles are approaching the tipping point of mass adoption thanks to a combination of factors.

Electric vehicles have been increasing in popularity, with multiple automakers committed to phasing out gasoline engines in the next decade. Even so, there are issues holding back widespread adoption, specifically cost and range anxiety.

According to The Guardian, however, those factors are on the verge of changing, and already have in some locations. Norway, for example, saw electric cars hit 54% market share in 2020 thank, in large part, to tax breaks that made them cheaper than gasoline-powered vehicles. Continued development of battery technology is driving the price down globally, making it only a matter of time before electric vehicles are cheaper in other countries as well.

Similarly, StoreDot has successfully demonstrated batteries that charge in five minutes. Fast-charging batteries are one of the biggest factors in alleviating range anxiety, making it possible to recharge in the same amount of time it would take to refuel a traditional vehicle.

As The Guardian points out, experts now believe electric vehicles will become cheaper than traditional vehicles, even without subsidies, sometime between 2023 and 2025.

While there’s still a ways to go, these factors are combining to ensure the tipping point of mass adoption occurs sooner rather than later.

Electric Vehicles Nearing Adoption Tipping Point
Matt Milano

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