Career Services & Job Placement News

Career Services & Job Placement News

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China Targets AI, Chips Among Seven Battlefronts in Tech Race With U.S.

Premier Li Keqiang said China will revise regulation and policies to encourage research and development. SINGAPORE—China upped the stakes in its tech race with the U.S. as leaders laid out plans to speed up development of advanced technologies from chips to artificial intelligence and quantum computing over five years. In a draft economic blueprint unveiled at the country’s annual legislative gathering, officials said they would boost research and development spending by more than 7% annually over the five years to the end of 2025. That will account for a higher percentage of gross domestic product than in the previous five-year period. Chinese Premier Li Keqiang said in a speech Friday that China will revise regulation and policies to support the flow of venture capital into startups, free up bank lending and extend tax incentives to encourage research and development. Economists and industry analysts say China’s 14th five-year plan stands out for its emphasis on advanced technologies and innovation. It also included China’s vision for 2035, when the country expects to have “significant breakthroughs on core technologies and seeks to be among the most innovative nations globally.” China’s leaders are pushing to rival the U.S. in cutting-edge technologies and in developing an independent supply chain to wean companies off dependence on American suppliers. The initiatives follow a bruising few years in which the Trump administration piled restrictions on Chinese companies such as Huawei Technologies Co. that cut off access to some critical components. Establishing world-class domestic chip makers has become pressing for China amid U.S. curbs on Shanghai-based Semiconductor Manufacturing International Corp. The Biden administration is conducting a broad review of U.S. policy on China technology and is seeking to enlist allies to stay ahead of Chinese advances. There is pressure to do more. Senate Majority Leader Chuck Schumer (D., N.Y.) has asked U.S. lawmakers to craft a bill to counter China’s rise ...

How global tech executives view U.S.-China tech competition

Signboards showing the flags of the United States and China are seen on a street in Qingdao, China. Oriental Image via Reuters Connect The global technology industry is hedging its bets. As the United States and China compete for technological supremacy in advanced semiconductor design and manufacturing, software, and other core technologies, global high-tech companies do not plan to pick sides. Rather, they pragmatically aim to compete in both Chinese and U.S. ecosystems regardless of the extra cost and complexity involved. This is the message from 158 senior business executives working for American, Chinese, European, Japanese, Taiwanese, and Korean global high-tech firms whom we polled about the impact of U.S-China tensions on their industry. While these executives regard as inevitable that American and Chinese technological spheres of influence will to some extent separate, they also expect Chinese systems and solutions suppliers to continue to rely on globally sourced (rather than Chinese-developed) technologies. In addition, these executives expect multinational companies of all stripes to double down on their efforts to keep competing in the Chinese market. With core technologies a central issue in U.S.-China relations, the Commerce Department and other agencies have recently placed greater restrictions on the technologies that can be exported to China, as well as added major Chinese tech companies to the blacklist of firms that can purchase American technology or receive U.S. investment. At the same time, the Chinese government has said it seeks “technology independence”—the vague goal articulated in the most recent five-year plan to reduce the reliance of Chinese high-tech firms on non-Chinese suppliers. The Biden administration now faces hard choices about whether to continue, accelerate, or alter the policies it inherited from the Trump administration seeking to constrain Chinese access to cutting-edge technology. Indeed, the Biden team is currently carrying out a broad review of U.S. policies toward China ...

LinkedIn Is Building A Gig Marketplace, And Other Small Business Tech News

1 —LinkedIn is building a gig marketplace.  Professional networking site, LinkedIn has announced plans to launch their own gig marketplace called Marketplace. Similar to Upwork and Fiverr, Marketplace will post freelance projects and work from home jobs while taking 13%-27%. The new platform will primarily focus on jobs such as writing, marketing, and consulting. Microsoft—the parent company of LinkedIn—is also focusing their efforts on creating a digital wallet that will be compatible throughout several of its platforms, including Marketplace. (Source: The Hustle) Why this is important for your business: Despite pressures by Washington to force employers to re-classify more independent workers as employees, the “gig” economy continues to expand. That’s why LinkedIn is jumping in. What I like about this is that when clients ask me for consultants or independent workers for projects I generally tell them to search on LinkedIn. Now the platform is making it easier to find these peopleand pay them too. 2 — A Dallas fintech startup is taking the awkwardness out of lending to friends and family.       New fintech platform Zirtue hopes to make it less awkward for friends and family to lend and borrow money through utilizing a digital paper trail to help track what is owed. Zirtue’s app—which launched in both iOS and Android in 2020—is the first of its kind that helps simplify family and friend loans through monthly, automatic payments. Through a partnership with MasterCard, the Dallas-based startup also launched a debit card to help those who may not have consistent access to banking. (Source: Dallas Innovates) Why this is important for your business: It’s a good and useful platform. But I’m still not sure it’ll make Thanksgiving any less awkward. 3 —Google’s new updated tool will help you build a knockout website.   Google just released an updated plugin for their design language, known as Material Design. The new add-on for ...

The year the world gave up waiting for Big Tech to fix itself

Hong Kong (CNN Business)The world's biggest tech companies faced a global reckoning in 2020 as the United States, the European Union and even China took dramatic steps to curb their dominance. That pressure won't be going away in the new year. Dozens of US states and the federal government sued Facebook (FB) and Google (GOOGL) over claims that the companies engaged in anticompetitive behavior that tightened their grip on the online marketplace. Europe, meanwhile, recently unveiled legislation that would give regulators sweeping new power to take on those American tech companies. The antitrust lawsuits against Google just keep coming The regulatory fervor has also spread to China. Officials last week announced an antitrust investigation into Jack Ma's Alibaba (BABA), and turned up the heat on the company's financial affiliate Ant Group less than two months after blocking its blockbuster stock market debut at the last minute. While many of these developments have unfolded at a rapid pace in recent weeks, the desire to rein in Big Tech is not new. For years, governments have been grappling with the massive amount of influence these companies have over the online economy and the flow of ever-more valuable digital information. But huge antitrust fines, onerous data protection laws and interminable Congressional hearings have failed to bring tech companies to heel, and politicians are now signaling that they want to do more to prevent market abuse and an explosion of harmful online content and misinformation. Regulators turned on Big Tech this week. Now for the good news Advancements in computing, data storage and global digital connectivity enabled major tech firms to balloon in size, said Dipayan Ghosh, co-director of the Digital Platforms and Democracy Project at the Harvard Kennedy School. Now, a handful of those companies have developed sophisticated artificial intelligence systems that have granted them an unprecedented amount of control over content, advertising and personal data. "It's always been inevitable, but when you have kind of an ...

Three Reasons Why The COVID-19 Pandemic Offers A Good Time To Start A Tech

The global coronavirus pandemic of 2020 has caused a lot of upset and change in the world. Businesses have suffered, people have lost jobs, and there doesn’t seem to be an end in sight. Many people are taking a break and waiting for the pandemic to be over, and many have had to hit the reset button on life altogether, looking for a new avenue to explore. But there is some good news though- there is one industry that has seen an upswing during all of this chaos: technology. Being a tech entrepreneur, and having started and sold multiple tech companies in the past decade, I personally believe that the current pandemic offers one of the best, if not the best, times to start a tech startup. Here are three of my top reasons why: 1. The rise in adoption of technology during the pandemic With many countries facing strict COVID-19 restrictions including curfews, closures of businesses, and even complete lockdowns, usage of online platforms for everyday functions has been adopted quickly. Many businesses that are working remotely have made the switch to technology, and have been relying heavily on platforms such as Zoom, Microsoft Teams, and Google Hangouts to both keep their team connected and to manage meetings with clients and customers. Outside of businesses, more and more people are using the same platforms to see their family members and friends. Another area that has seen great growth is e-commerce. Since many people can’t go out to shops to make purchases, they have increased their online spending. So far, since the beginning of the pandemic, Amazon’s stocks have increased by an astonishing 87%, which is proof that the way the world shops is changing. Even with an economy that is so uncertain, consumers are still spending and are actively looking for the latest and ...

Amazon Web Service Explains Its Major Outage…And Other Small Business Tech

1 — Amazon Web Services revealed what caused the major outage last week.     Many AWS operations were impacted last week from an outage that happened in the Northern Virginia region after additions were being made to the capacity of its Kinesis servers, which are used by additional AWS platforms such as Cognito and CloudWatch as well as developers. While the capacity addition set off the outage, it was not the sole reason for it. As capacity was being added, the front-end fleet servers started to exceed the amount of threads permitted by the system and—when the maximum was reached—the trigger started a domino effect creating the outage. (Source: ZDNet) Why this is important for your business: Just to remind, big brands like Netflix, Twitch, LinkedIn and Facebook – and many others – rely on AWS to deliver their cloud base products and services. It’s an $8 billion business for Amazon and a major part of the company’s future strategic plans. And yet, even with all that Amazon money, resources and technical know-howit still went down.  The cloud is powerful. But it’s also not infallible. 2 —Shopify merchants generated record sales of $5.1 billion over the holiday weekend. Merchants on the popular e-commerce site Shopify broke records from Black Friday and Cyber Monday pulling in $5.1 billion total for the holiday shopping weekend. In 2019, Shopify set a $2.9 billion record which was broken this year by 5pm on the Saturday after Black Friday, a 76 percent increase YOY (year-over-year). According to the data released by Shopify, online sales ramped up 19 days earlier than years past as well with an 84 percent jump in sales the week of Thanksgiving. Sales during the weekend reached their height on Black Friday by 12pm reaching $102 million within a one-hour window. (Source: Motley Fool) Why this is important for your ...

When Should Health Systems Invest in New Tech?

In my long tenure as CIO at a large academic health system, I was often accosted by senior members of the medical, nursing, or administrative staff, just back from a meeting: “I saw a demo of this next-generation electronic-health-records system. Unbelievable! It saves lives, reduces costs, improves the patient experience, and mows lawns! We need to implement it here! It would transform us!” Or a board member would weigh in: “We need to be aggressively pursuing artificial intelligence! AI will be incredibly disruptive, possibly replacing most of our physicians. I heard that our rival health system is working closely with a tech giant and if we are not careful, we will be out of business!” These conversations always left me with a sinking feeling. It’s not that I don’t like technology. What I don’t like is technology considered in a vacuum, without regard to the bigger picture. Or worse yet, colleagues and superiors so seduced by what I call “shiny objects” that they’re willing to throw that carefully painted bigger picture into chaos. A Rembrandt becomes a Jackson Pollock just like that. AI, the next-generation electronic-health-records (EHR) system, or any number of other shiny objects brought to my attention in this way might be very important. They might advance the organization’s strategies beautifully. They might enable strategies that we hadn’t even thought of before. They might be the key to our survival. Or they might not. They might waste money and time, divert us from our goals, and allow more disciplined competitors to eat our lunch with wiser technology choices and better implementation. The next-generation EHR — so compelling in demo mode — might lock up at random times once it’s crunching real data. The AI that caught the board member’s eye might make recommendations that enrage the medical staff — or worse, mystify them. I had to develop a way to determine whether a ...

3 Employee Traits That Help Scale a Tech Business

An IT firm is only as good as its people. The U.S. had one million vacant IT jobs last year, but employers are challenged with a talent shortage in fields such as programming, blockchain, artificial intelligence, robotics and engineering. Workers must possess relevant technical expertise, as well as soft skills to positively impact product and service quality. Therefore, business owners should seek job candidates who take ownership of their responsibilities and possibly grow into a leadership role. I recently sat down with Omer Khawaja, co-founder and former CTO of ITBoost — an (SaaS) company acquired by ConnectWise — to hear his views on employee attributes that are critical for growing a technology firm. 1. Find the best talent According to a SHRM survey a few years back, employers want the following traits from entry-level workers: dependability and reliability (97 percent), integrity (87 percent), respect (84 percent) and teamwork (83 percent). One technology entrepreneur, who got a successful exit recently, thinks it’s best to hire promising job candidates who possess the above attributes. “If companies focus on talent, the experience they'll achieve from their team will be their copyright asset,” Khawaja says. “Your team can achieve wonders when leaders inspire trust, ownership and empathy. Therefore, entrepreneurs should always keep them motivated, excited, remove obstacles, and work for them. Combine passion and talent in a room, and your company will perform 10 times better. Add compassion and ideas, and you'll conquer the competition." The pandemic has forced millions of professionals to work from home (WFH) and use collaborative apps like Zoom and Webex. WFH gives knowledge workers an excellent opportunity to gain digital marketing skills, learn artificial intelligence or gain expertise in a new coding language. It’s about acquiring skills that will add value for an end-user or end-client. A 2020 PwC survey finds that 74 percent of CEOs are concerned about the availability of key skills. Upskilling gives organizations three times an improvement in innovation, digital transformation and opportunity discovery. These improvements can then come back to the ...

Is Your Culture a ‘Good Fit’ for New Technology?

Technology advances promise to help manufacturers thrive in an increasingly competitive and turbulent world. Readers of the articles on this website are likely to be very familiar with the digital and technical advances that promise to provide a broad range of advantages to manufacturers. Industry 4.0, Internet of Things (IoT), Artificial Intelligence (AI) and robotics will impact every aspect of manufacturing from product development to operations processes to supply chain logistics. There’s a danger, though, that these elements are sometimes presented as “plug and play” technologies. In other words, all manufacturers need to do will be to purchase the technologies, plug them in and hit the “Start” button to derive the anticipated benefits. We’ve already seen the costs of this thinking with respect to Enterprise Resource Planning systems. Materials Resource Planning (MRP) software had been around since the 1960s, but advances in computer hardware during the 1990s allowed the software to be expanded such that transactions across the enterprise could be automated. Managers would be able to monitor those transactions and their outcomes in real time. If Sales Person Sarah wanted to know when a specific product would be available in a specific quantity, the ERP system would check existing inventories of finished goods, WIP, and raw materials, as well as materials in transit; subtract that which was already allocated to existing orders; calculate lead time based on production rates; and backlog and provide an answer in just seconds. Other functions like sales, purchasing, finance and accounting would realize similar benefits. And all a company needed to do was to install the software! So how was it that 60% (or more) of ERP implementations failed, 80% of ERP purchasers were unhappy with their present system, and 90% of ERP implementations failed to deliver any measurable ROI? And why would we think the technical advances so widely touted ...
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