Interested, he talked to a counselor to learn more about P-TECH, an early college program where he could earn an associate’s degree along with his high school diploma. Liking the sound of the program, he enrolled in the inaugural P-TECH class as a freshman at Longmont’s Skyline High School.
“I really loved working on computers, even before P-TECH,” he said. “I was a hobbyist. P-TECH gave me a pathway.”
IBM hired him as a cybersecurity analyst once he completed the apprenticeship.
“P-TECH has given me a great advantage,” he said. “Without it, I would have been questioning whether to go into college. Having a college degree at 18 is great to put on a resume.”
Litow’s idea was to get more underrepresented young people into tech careers by giving them a direct path to college while in high school — and in turn create a pipeline of employees with the job skills businesses were starting to value over four-year college degrees.
The program, which includes mentors and internships provided by business partners, gives high school students up to six years to earn an associate's degree at no cost.
In Colorado, St. Vrain Valley was among the first school districts chosen by the state to offer a P-TECH program after the Legislature passed a bill to provide funding — and the school district has embraced the program.
Colorado’s first P-TECH programs started in the fall of 2016 at three high schools, including Skyline High. Over the last six years, 17 more Colorado high schools have adopted P-TECH, for at total of 20. Three of those are in St. Vrain Valley, with a fourth planned to open in the fall of 2023 at Longmont High School.
Each St. Vrain Valley high school offers a different focus supported by different industry partners.
Skyline partners with IBM, with students earning an associate’s degree in Computer Information Systems from Front Range. Along with being the first, Skyline’s program is the largest, enrolling up to 55 new freshmen each year.
Programs at the other schools are capped at 35 students per grade.
Frederick High’s program, which started in the fall of 2019, has a bioscience focus, partners with Aims Community College and works with industry partners Agilent Technologies, Tolmar, KBI Biopharma, AGC Biologics and Corden Pharma.
Silver Creek High’s program started a year ago with a cybersecurity focus. The Longmont school partners with Front Range and works with industry partners Seagate, Cisco, PEAK Resources and Comcast.
The new program coming to Longmont High will focus on business.
District leaders point to Skyline High’s graduation statistics to illustrate the program’s success. At Skyline, 100 percent of students in the first three P-TECH graduating classes earned a high school diploma in four years.
For the 2020 Skyline P-TECH graduates, 24 of the 33, or about 70 percent, also earned associate’s degrees. For the 2021 graduating class, 30 of the 47 have associate’s degrees — with one year left for those students to complete the college requirements.
For the most recent 2022 graduates, who have two years left to complete the college requirements, 19 of 59 have associate’s degrees and another six are on track to earn their degrees by the end of the summer.
Louise March, Skyline High’s P-TECH counselor, keeps in touch with the graduates, saying 27 are working part time or full time at IBM. About a third are continuing their education at a four year college. Of the 19 who graduated in 2022 with an associate’s degree, 17 are enrolling at a four year college, she said.
Two of those 2022 graduates are Anahi Sarmiento, who is headed to the University of Colorado Boulder’s Leeds School of Business, and Jose Ivarra, who will study computer science at Colorado State University.
“I’m the oldest out of three siblings,” Ivarra said. “When you hear that someone wants to provide you free college in high school, you take it. I jumped at the opportunity.”
Sarmiento added that her parents, who are immigrants, are already working two jobs and don’t have extra money for college costs.
“P-TECH is pushing me forward,” she said. “I know my parents want me to have a better life, but I want them to have a better life, too. Going into high school, I kept that mentality that I would push myself to my full potential. It kept me motivated.”
While the program requires hard work, the two graduates said, they still enjoyed high school and had outside interests. Ivarra was a varsity football player who was named player of the year. Sarmiento took advantage of multiple opportunities, from helping elementary students learn robotics to working at the district’s Innovation Center.
Ivarra said he likes that P-TECH has the same high expectations for all students, no matter their backgrounds, and gives them support in any areas where they need help. Spanish is his first language and, while math came naturally, language arts was more challenging.
“It was tough for me to see all these classmates use all these big words, and I didn’t know them,” he said. “I just felt less. When I went into P-TECH, the teachers focus on you so much, checking on every single student.”
They said it’s OK to struggle or even fail. Ivarra said he failed a tough class during the pandemic, but was able to retake it and passed. Both credited March, their counselor, with providing unending support as they navigated high school and college classes.
“She’s always there for you,” Sarmiento said. “It’s hard to be on top of everything. You have someone to go to.”
Students also supported each other.
“You build bonds,” Ivarra said. “You’re all trying to figure out these classes. You grow together. It’s a bunch of people who want to succeed. The people that surround you in P-TECH, they push you to be better.”
P-TECH has no entrance requirements or prerequisite classes. You don’t need to be a top student, have taken advanced math or have a background in technology.
With students starting the rigorous program with a wide range of skills, teachers and counselors said, they quickly figured out the program needed stronger support systems.
March said freshmen in the first P-TECH class struggled that first semester, prompting the creation of a guided study class. The every other day, hour-and-a-half class includes both study time and time to learn workplace skills, including writing a resume and interviewing. Teachers also offer tutoring twice a week after school.
“The guided study has become crucial to the success of the program,” March said.
Another way P-TECH provides extra support is through summer orientation programs for incoming freshmen.
At Skyline, ninth graders take a three-week bridge class — worth half a credit — that includes learning good study habits. They also meet IBM mentors and take a field trip to Front Range Community College.
“They get their college ID before they get their high school ID,” March said.
During a session in June, 15 IBM mentors helped the students program a Sphero robot to travel along different track configurations. Kathleen Schuster, who has volunteered as an IBM mentor since the P-TECH program started here, said she wants to “return some of the favors I got when I was younger.”
“Even this play stuff with the Spheros, it’s teaching them teamwork and a little computing,” she said. “Hopefully, through P-TECH, they will learn what it takes to work in a tech job.”
Incoming Skyline freshman Blake Baker said he found a passion for programming at Trail Ridge Middle and saw P-TECH as a way to capitalize on that passion.
“I really love that they provide you options and a path,” he said.
Trail Ridge classmate Itzel Pereyra, another programming enthusiast, heard about P-TECH from her older brother.
“It’s really good for my future,” she said. “It’s an exciting moment, starting the program. It will just help you with everything.”
While some of the incoming ninth graders shared dreams of technology careers, others see P-TECH as a good foundation to pursue other dreams.
Skyline incoming ninth grader Marisol Sanchez wants to become a traveling nurse, demonstrating technology and new skills to other nurses. She added that the summer orientation sessions are a good introduction, helping calm the nerves that accompany combining high school and college.
“There’s a lot of team building,” she said. “It’s getting us all stronger together as a group and introducing everyone.”
Silver Creek’s June camp for incoming ninth graders included field trips to visit Cisco, Seagate, PEAK Resources, Comcast and Front Range Community College.
During the Front Range Community College field trip, the students heard from Front Range staff members before going on a scavenger hunt. Groups took photos to prove they completed tasks, snapping pictures of ceramic pieces near the art rooms, the most expensive tech product for sale in the bookstore and administrative offices across the street from the main building.
Emma Horton, an incoming freshman, took a cybersecurity class as a Flagstaff Academy eighth grader that hooked her on the idea of technology as a career.
“I’m really excited about the experience I will be getting in P-TECH,’ she said. “I’ve never been super motivated in school, but with something I’m really interested in, it becomes easier.”
Deb Craven, dean of instruction at Front Range’s Boulder County campus, promised the Silver Creek students that the college would support them. She also gave them some advice.
“You need to advocate and ask for help,” she said. “These two things are going to help you the most. Be present, be engaged, work together and lean on each other.”
Craven, who oversees Front Range’s P-TECH program partnership, said Front Range leaders toured the original P-TECH program in New York along with St. Vrain and IBM leaders in preparation for bringing P-TECH here.
“Having IBM as a partner as we started the program was really helpful,” she said.
When the program began, she said, freshmen took a more advanced technology class as their first college class. Now, she said, they start with a more fundamental class in the spring of their freshman year, learning how to build a computer.
“These guys have a chance to grow into the high school environment before we stick them in a college class,” she said.
Summer opportunities aren’t just for P-TECH’s freshmen. Along with summer internships, the schools and community colleges offer summer classes.
Silver Creek incoming 10th graders, for example, could take a personal financial literacy class at Silver Creek in the mornings and an introduction to cybersecurity class at the Innovation Center in the afternoons in June.
Over at Skyline, incoming 10th graders in P-TECH are getting paid to teach STEM lessons to elementary students while earning high school credit. Students in the fifth or sixth year of the program also had the option of taking computer science and algebra classes at Front Range.
And at Frederick, incoming juniors are taking an introduction to manufacturing class at the district's Career Elevation and Technology Center this month in preparation for an advanced manufacturing class they’re taking in the fall.
“This will provide them a head start for the fall,” said instructor Chester Clark.
Incoming Frederick junior Destini Johnson said she’s not sure what she wants to do after high school, but believes the opportunities offered by P-TECH will prepare her for the future.
“I wanted to try something challenging, and getting a head start on college can only help,” she said. “It’s really incredible that I’m already halfway done with an associate’s degree and high school.”
IBM P-TECH program manager Tracy Knick, who has worked with the Skyline High program for three years, said it takes a strong commitment from all the partners — the school district, IBM and Front Range — to make the program work.
“It’s not an easy model,” she said. “When you say there are no entrance requirements, we all have to be OK with that and support the students to be successful.”
IBM hosted 60 St. Vrain interns this summer, while two Skyline students work as IBM “co-ops” — a national program — to assist with the P-TECH program.
The company hosts two to four formal events for the students each year to work on professional and technical skills, while IBM mentors provide tutoring in algebra. During the pandemic, IBM also paid for subscriptions to tutor.com so students could get immediate help while taking online classes.
“We want to get them truly workforce ready,” Knick said. “They’re not IBM-only skills we’re teaching. Even though they choose a pathway, they can really do anything.”
As the program continues to expand in the district, she said, her wish is for more businesses to recognize the value of P-TECH.
“These students have had intensive training on professional skills,” she said. “They have taken college classes enhanced with the same digital credentials that an IBM employee can learn. There should be a waiting list of employers for these really talented and skilled young professionals.”
©2022 the Daily Camera (Boulder, Colo.). Distributed by Tribune Content Agency, LLC.
Gurugram (Haryana) [India], July 30 (ANI/NewsVoir): Edology has announced a partnership with IBM, one of the world's top leading and reputed corporations, to introduce its Post Graduate Certificate Program in Data Science for working professionals and everyone wanting to enter the field of Data Science. Developed by IBM inventors and experts who hold numerous patents in the field of Data Science, this is the first IBM programme that has been completely designed by IBM and is being delivered by its faculty.
"The programme for the Edology x IBM Data Science course is a very special offering from IBM, and this is one-of-a-kind initiative," according to Hari Ramasubramanian, Leader, Business Development and Academia Relationships, IBM Expert Labs, India/South Asia. He further added, "There is a strong demand for skilled technology and trained professionals across the industry. Data science is not confined to IT. It includes all the verticals one can imagine-from board meetings to sports, data science brings a lot of value to organizations worldwide. For students, as well as professionals with experience, if you want to fast track your career on to the next level, this is the course you should be doing."
"The IBM Data Science certificate program through the Edology platform, will equip to adapt to the dynamics in the industry and drive technology innovation," said, Vithal Madyalkar, Program Director, IBM Innovation Centre for Education, India/South Asia. "The Data Science course modules will provide deep practical knowledge, coupled with broad-based industry alignment, interaction, talent discoverability as well as excellence in their professional practice."
A global Ed-Tech company, Edology helps students and professionals all around the world advance their careers in a variety of subjects, including data science, artificial intelligence, machine learning, cyber security, and more.
Unique Offerings of the IBM x Edology PG Certificate Programme in Data Science:
- 100+ hours of Live classes by IBM experts
- Globally recognized IBM digital badge
- Job opportunities with 300+ corporate partners
- Edology-IBM Award for Top Performers
- 1 on 1 mentorship from industry experts
- 1 day networking session with IBM team
- Guaranteed interview with IBM for top performers in each cohort
- Dedicated career assistance team
Sumanth Palepu, the Business Head at Edology, states, "Statistical estimates reveal that the worldwide market size for Data Science and analytics is anticipated to reach around a whopping $450 billion by 2025, which also means that the rivalry would be quite severe at the employee level, the competition will be very fierce. Thus, this collaboration with IBM is now more essential than ever, so that we are collectively able to deliver advanced level teaching to the students and working professionals and they get first-hand industry knowledge with our IBM experts."
Edology is a Global Ed-Tech Brand that provides industry-powered education and skills to students and professionals across the world, to help them achieve fast-track career growth. Launched in 2017, Edology connects professionals from across the globe with higher education programmes in the fields of law, finance, accounting, business, computing, marketing, fashion, criminology, psychology, and more.
It's a part of Global University Systems (GUS), an international network of higher-education institutions, brought together by a shared passion of providing industry-driven global education accessible and affordable. All the programs of Edology are built with the objective of providing its learners career enhancement and strong CV credentials, along with a quality learning experience.
The courses offered by Edology include Data Science, Certification in AI and Machine Learning, Data Analytics, PGP in International Business, PGP in Renewable Energy Management, PGP in Oil and Gas Management among others. These offerings are done through hands-on industry projects, interactive live classes, global peer-to-peer learning and other facilities.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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Danny Baldus-Strauss has been setting aside the majority of his money since graduating from college in 2013.
"Throughout my 20s, I was saving 80%, sometimes even 90%, of my income," he told Insider.
It helped that he was a high-earner: He made up to $300,000 a year working in sales at blue chip giant IBM. Plus, traveling for work kept his day-to-day expenses minimal, he noted: "I was barely spending anything because I was getting per diem and because I was on the road, I didn't need to get groceries."
His high-savings rate helped him to pay off the $50,000 worth of student loans he had accumulated, he said, and to eventually build a seven-figure portfolio that allowed him to quit his day job in 2020. Insider Checked his net worth as of July 2022, which exceeds $2 million in securities.
Today, at 31, Baldus-Strauss works for himself and has a variety of revenue streams: He does sales consulting, cryptocurrency mining, runs an e-commerce store, and he rents out his home on Airbnb. He's also spent years building his own brand, Backpacker Finance, and makes money through affiliate marketing with companies like M1 Finance.
He doesn't technically have to work, though. While he took an immediate pay cut after leaving corporate America, "I currently bring in more money than I was making at IBM," said Baldus-Strauss, who considers himself financially independent. "I keep my needs and my wants really low, so my passive income is higher than those by far, and I would define that as financial independence."
Consistent saving and investing in his 20s is what allowed him to take a chance on himself. All the while, he still found ways to do what he loves most: travel.
Here are three strategies he used to stash the majority of his income while still enjoying life in his 20s:
Baldus-Strauss picked up a concept from Ramit Sethi, author of "I Will Teach You To Be Rich" called "money dials." There are 10 "money dials," which are essentially spending categories like travel, health, and experiences, that you can either tune up or down. Sethi encourages everyone to look at them and think about which ones get you excited.
Then, "the idea is to cut mercilessly in areas you don't care about and spend lavishly without really thinking about it in areas that just bring you joy," explained Baldus-Strauss.
He spent some time figuring out what type of spending truly makes him happy, and what doesn't.
"Certain things weren't actually adding any happiness, like buying a fancy jacket. I would just feel bad about it a year later when I realized I wore it only once or twice," he said. "But I've never had a moment where I regretted spending money on travel."
That didn't mean he was spending lavishly and staying at Ritz-Carltons, he noted, but he spent without guilt on anything travel-related.
"It's so easy in this day and age to go on social media and get pulled into what everyone else is doing," he added. "I really found out, what do I want? Not, what does my neighbor want? Or, what does my friend want?"
Then, he spent his money in those categories, and cut back everywhere else.
Like most "super savers," Baldus-Strauss found ways to cut the three main spending categories: housing, transportation, and food.
According to the 2020 Consumer Expenditure Survey from the US Bureau of Labor Statistics, those are the three categories where Americans spend the most: housing is the biggest expense, making up 34.9% of the average budget, transportation accounts for 16% of average spending, and food makes up 11.9%.
"I never really ponied up for big rent," said Baldus-Strauss, who's now a homeowner and offsets his mortgage payment by renting out his property on Airbnb whenever he travels. When he realized that he'd be traveling about 100 times a year for work and spending so many nights in a hotel, he decided that signing a lease wasn't worth it. He wouldn't be home enough to justify renting his own apartment, so he paid friends $500 in cash a month for a bedroom to crash in whenever he was home, he said.
He kept his transportation costs low by driving a 1999 Toyota 4Runner that he'd paid off. As for food, work covered most of it, he said: "I was getting per diem on the road, so I didn't need to get groceries." And whenever he was home, "I rarely dined out."
His work situation helped him keep these main expenses low, but this is a strategy anyone can use to free up extra cash each month.
Throughout his 20s, he was careful not to increase his spending whenever he got a raise.
"Every couple of years I would get a promotion that would bring my income up a lot," said Baldus-Strauss, who also increased his commission earnings each year as he got better at sales with experience. "I never spent more money than I did in 2013. My lifestyle didn't really change."
When he traveled, "I was staying in hostels for 20 bucks a night," he said. "Even when I became a millionaire, I kept driving my '99 Toyota 4Runner. I really focused on getting as much money into the market and maintaining the same lifestyle."
After all, it was a lifestyle that made him happy.
Clark Atlanta University has received a $10 million grant to advance its students.
WSB-TV Atlanta reports the money awarded to the historically Black university will make data science accessible by creating a program under the National Data Science Alliance (NDSA). In five years, “the NDSA will expand the number of Black people earning data science credentials by no fewer than 20,000.”
“This is a monumental accomplishment for the HBCU community as a whole. Clark Atlanta University has deep roots in conducting data science research that promotes equity, including the seminal works of scholar and former faculty member W.E.B. Du Bois on these hallowed ground,” CAU President George T. French Jr., Ph.D. said, according to WSB-TV Atlanta.
In addition, the NDSA will work with other HBCUs and secure academic partnerships to spike engagement and encourage equity-based findings in data science.
This will be crucial as the field takes knowledge and insights from noisy and unstructured data to create actions for businesses or organizations, according to IBM. Therefore, more minority groups in the field can ensure findings are not led by cognitive bias.
As for more Clark news, it will welcome applicants for its 2023 Community of Fellows for the HBCU Executive Leadership Institute (ELI).
The 12-month program will offer students curriculums centering on operations, budgeting, alumni relations, fundraising, development, board governance, and human resource management. The purpose of the program is to foster management and leadership skills.
Up to 30 applicants will be selected and applications close on Oct. 19, 2022.
Vista 2022, the business summit organized by students of the two-year MBA programme at IIM Bangalore on 6th and 7th August, celebrated the theme, ‘Dream, Dare, Deliver’, and focused on capturing the evolving nature of businesses. Competitions, events, workshops and panel discussions with industry leaders, entrepreneurs and personalities from the world of cinema, music, sports and media, marked the fest.
One of the highlights of the fest was the technology panel discussion on 7th August. The panel comprised Ganesan Ramachandran, Managing Director of Tech Strategy and Advisory at Accenture Strategy and Consulting, and Amit Sharma, Managing Partner of Global Delivery at IBM Consulting. The panelists discussed the latest technologies ranging from Cloud Computing, Artificial Intelligence to Blockchain, Metaverse, Quantum Computing and more and their impact on businesses, and how sustainability is under scrutiny due to them. They added that business needs drive the emergence of such technologies. In the current scenario, they believe, all business models need to be supported by the latest technologies and should have a good Technology Quotient and Sustainability Quotient to succeed.
In conversation with Dr. Gaurav Jakhu, faculty from the Economics & Social Sciences area at IIMB, Ashok Kumar Gupta, Chairperson, Competition Commission of India (CCI), shared his thoughts on the prevailing competition policy and its implications in the changing business environment.
Ravi Venkatesan, Board Chair for the Global Energy Alliance for People and Planet (GEAPP) was in conversation with Dr. Rishikesha T Krishnan, Director of IIMB and Professor of Strategy, on how to succeed in turbulent times.
A panel from the World Bank addressed social responses to crises and observed that such responses require multi directional analysis and coordination between government and businesses.
In his talk, which was part of the Elite Speaker Series, Peyush Bansal, Co-founder and CEO of Lenskart, and alumnus of IIMB, emphasized the importance of incorporating sustainability in business. He also talked about how upcoming business leaders need to prepare for future obstacles and challenges.
Paroksh Chawla, CEO, ITW Catalyst, Nikhil Vyas, Co-founder and CEO, ITW MediaWorx and Joshey John, Director and Head of Sales, ITW Universe, spoke on the changing landscape of sports marketing and the evolution of sponsorship. They also their views on current trends of Fantasy Sports and Sports in Metaverse.
Vista 2022 closed with a discussion featuring actor Boman Irani, Prof. Sourav Mukherji, Dean Alumni Relations and Development and faculty in the OB&HRM area at IIMB and Porf. S Raghunath on “Why Career is Not a Race”. Boman Irani’s advice to students: “Pace yourself; don’t be in a hurry”.
The ceremony concluded with an address by Prof. R. Srinivasan, Chairperson, Post Graduate Programme in Management (PGP) at IIMB and faculty in the Strategy area, and Poorva Singh, secretary, Vista 2022.
Anyone watching the markets recently knows that the US dollar has been very strong. Last month, I discussed how this would especially impact tech and service giant IBM (NYSE:IBM), as I figured the company would need to cut its full year guidance as a result. After the bell on Monday, the firm released its second quarter results, and while the headline numbers initially looked good, the stock dropped in the after-hours session.
For the second quarter, IBM came in with revenues of more than $15.53 billion, beating street estimates by more than $350 million. This was up 9 percent over the prior year period, or up 16 percent at constant currency - with about 5 points from sales to Kyndryl (KD). That 7 percentage point gap adjusted for currencies was more than double the 3 points we saw in Q1 of this year, thanks to the strength of the greenback. Since the spin-off still makes the comparisons to a year ago a little fuzzy, the graphic below shows how key segment results have trended so far this year:
I was a little disappointed at the significant decline in the software growth rate, especially taking out the Kyndryl sales, even after the currency issues. That's probably the main reason hurting the stock despite the top line beat. Infrastructure revenues really took off in the period, which is likely the main driver of the overall beat. Consulting revenues basically showed the main story ongoing right now, that is a solid business whose reported numbers get hurt by foreign exchange.
IBM beat on the adjusted bottom line by two cents, which isn't surprising given that it has beat in all but two quarters over the past five years. However, GAAP gross margins declined over Q2 2021 in all three major segments, with the total gross margin percentage declining by 1.8 percentage points to 53.4%. In the end, GAAP EPS were up 6 cents year over year to $1.54, but as usual IBM made tons of adjustments to get the adjusted EPS figure look a lot better.
The main premise of my prior IBM article was that we were likely to see management cut its full year total revenue forecast, and that's exactly what happened here. The company is still guiding to revenue growth in the high mid-single digit area, but that is in constant currencies. The issue here is that the currency headwind forecast is now expected to be 6 points, up from a 3 to 4 point range back at the April report.
Likewise, the free cash flow forecast went from a range of $10 billion to $10.5 billion to now about $10 billion. While that doesn't seem like a big change, you have to remember that IBM is using about $6 billion of that for the dividend, which means the amount left over after those cash payments is a bit less. This means that less money is available for other uses, which primarily is debt repayments currently. Given how interest rates around the globe have risen a bit lately, and the Fed could hike again next week, paying back less debt moving forward dings the long-term profitability and cash flow situation just a little.
I've talked about IBM shares stalling out in the low $140s recently, and that seemed to be the case again here. The stock hit a high of $140.31 on Monday before pulling back, and we're under $133 in the extended hours session right now. The average price target on the street continues to be around $144 currently, but that could tick down a little with guidance coming down slightly. As the chart below details, the stock in Monday's after hours has now lost the 50-day moving average (purple line), and stands just about $2 above the 200-day (orange line). Without a quick recovery, the 50-day will likely roll over soon and start trending lower, which could provide some resistance.
In my previous article, I talked about a buy point being where IBM yielded about 200 basis points above the 10-Year Treasury. That US bond has seen its annual yield come down a bit since, but IBM also did lower its forecasts as I expected. As a result, I'm adjusting my yield point to 225 basis points more, which is a yield of about 5.24% currently. Based on what I'm expecting in dividends over the next 12 months, that means I'd be more interested in IBM around $126.55.
In the end, IBM was forced to cut its annual guidance thanks to the stronger US dollar. While revenues and adjusted earnings beat forecasts, software sales seemed a little light to me, and currencies were certainly a major impact. Management did take down its forecast when including foreign exchange, which will also result in a little less free cash flow being produced. With the stock trading towards the upper end of its range recently, Monday's Q2 report became a sell the news event for IBM. Given we might see a lot of these types of reports in the coming weeks, I wouldn't jump in right away.
A new research center for artificial intelligence and machine learning has sprung up at the University of Oregon, thanks to a collaboration between IBM and the Oregon Advanced Computing Institute for Science and Society. The Oregon Center for Enterprise AI eXchange (CE-AIX) leverages the university's high-performance computing technology and enterprise servers from IBM to create new training opportunities and collaborations with industry.
"The new lab facility will be a valuable resource for worldwide universities and enterprise companies wanting to take advantage of IBM Enterprise Servers POWER9 and POWER10 combined with IBM Spectrum storage, along with AIX and RHEL with OpenShift," said Ganesan Narayanasamy, IBM's leader for academic and research worldwide.
Narayanasamy said the new center extends state-of-the-art facilities and other Silicon Valley-style services to researchers, system developers, and other users looking to take advantage of open-source high-performance computing resources. The center has already helped thousands of students gain exposure and practice with its high-performance computing training, and it is expected to serve as a global hub that will help prepare the next generation of computer scientists, according to the center's director Sameer Shende.
"We aim to expand the skillset of researchers and students in the area of commercial application of artificial intelligence and machine learning, as well as high-performance computing technologies," Shende said.
Thanks to a long-term loan agreement with IBM, the center has access to powerful enterprise servers and other capabilities. It was envisioned to bring together data scientists from businesses in different domains, such as financial services, manufacturing, and transportation, along with IBM research and development engineers, IBM partner data scientists, and university students and researchers.
The new center also has the potential to be leveraged by everyone from global transportation companies seeking to design more efficient trucking routes to clean energy firms looking to design better wind turbines based on models of airflow patterns. At the University of Oregon, there are potential applications in data science, machine learning, environmental hazards monitoring, and other emerging areas of research and innovation.
"Enterprise AI is a team sport," said Raj Krishnamurthy, an IBM chief architect for enterprise AI and co-director of the new center. "As businesses continue to operationalize AI in mission-critical systems, the use cases and methodologies developed from collaboration in this center will further promote the adoption of trusted AI techniques in the enterprise."
Ultimately, the center will contribute to the University of Oregon's overall research excellence, said AR Razdan, who serves as the university's vice president for research and innovation.
"The center marks another great step forward in [the university's] ongoing efforts to bring together interdisciplinary teams of researchers and innovators," Razdan said.
This post was created by IBM with Insider Studios.
About the author: Stanley Litow is Accenture professor of the practice at Duke University and a trustee at the State University of New York. He previously served as president of the IBM Foundation and is the co-author of Breaking Barriers: How P-Tech Schools Create a Pathway From High School to College to Career.
Long-lived government programs often need to be viewed through a current lens. If they no longer meet the needs of the American public, they may need to be reinvented or be sunset. But that lens can also reveal just how vital some programs are. President Kennedy’s Peace Corps is a prime example. But there is another example of lesser-known success that needs both to continue and have an opportunity to be reinvented.
In 1964, before there was a Pell Grant program to ease the cost of college tuition for economically vulnerable students, the federal college work-study program began as part of the Economic Opportunity Program. It had broad, bipartisan support. The concept of students “working their way through college” combined Democratic legislators’ wishes to provide financial support for low-income students via subsidized work to help collect enough money to afford college and Republican legislators’ wishes to have students work to earn that support.
Back then a student could earn about 90% of their tuition costs with a work-study position. Today, with escalating tuition costs, students can earn only a small fraction of that amount. Currently only $1 billion is available across the U.S. to pay up to 75% of a student’s wages in a work opportunity, with grants averaging about $2,000 per student. The job is often at minimum wage and overwhelmingly on the college campus, largely in relatively low-level work. Universities pay the remaining 25% or more of wages, obtaining cheap labor with students working in college libraries or cafeteries.
When former President Trump tried to cut the program in half, Republican and Democratic legislators united in support. It survived. It deserves reinvention, too. Inspiration can be found in another legacy of that era.
John V. Lindsay was elected mayor of New York City in 1965. He was a former Republican member of Congress, but he prided himself on being progressive. The federal Peace Corps was extremely popular then as it is today. Lindsay wanted a municipal version where students could work locally in the public interest for the City of New York. Once elected he launched the New York City Urban Corps. It operated out of the Mayor’s Office. To make it affordable Lindsay approached New York City’s university community to ask that a percentage of their students with federal college work-study grants be given the opportunity to intern with the city. Work-study would pay the lion’s share of their wages, about 80%. The city would pay the remainder and would structure the internships, linking them to learning outcomes. Assignments could be to help manage city parks, assist in consumer affairs offices, work on environmental projects—and a host of other significant work assignments for virtually all city agencies. Graduate students often supervised undergraduates in their work assignments. The participants benefited, as did city residents.
I was the program’s executive director in the early 1970s. At its peak, the program employed about 10,000 New York City college student interns during summer vacation and after school. Urban Corps interns came from dozens of colleges and universities in New York City and around the country to perform work-study internships for virtually every City agency. The program became so popular and effective that funding from the Ford Foundation allowed it to spread across almost 100 other U.S. cities.
The Urban Corps met the goal of federal college work-study by allowing students to earn money through their work assignment for the city. That helped pay tuition, keep them on track to complete college and gain experiential learning opportunities through their paid internships. The City of New York also created a pipeline of students who, once they graduated, could then seek full-time employment for the city and a career in public service.
As Lindsay left office and the city went through its fiscal crisis, the Urban Corps and other progressive initiatives languished. At the federal level, funding for work-study stagnated.
In the legacies of the Urban Corps and the federal college work-study program there is a unique opportunity for today. A program that takes the best of both in a programmatic format could help address the urgent need to make school and college more accessible and affordable, and at the same time to make significantly more students both college and career-ready. What if the federal college work-study program were significantly expanded both financially and programmatically to incentivize employers to offer more high-level experiential learning opportunities, via competitive paid internships, for students both in college and those taking college-level courses while still in high school?
Students would earn the resources to support their continued learning, both during the summer and after school, but also acquire the workplace skills that would make them more valuable additions to the workforce. Work for private companies could be in areas directly connected to career success and economic progress, such as cybersecurity or biotechnology. For not-for-profits it could be providing skilled mentors and academic assistance after school for students in need, building both maturity levels and social skills. For the public sector it could resemble the Urban Corps, expanding public service opportunities for all.
Federal matching dollars would dramatically increase the number of employers interested. With federal assistance, they could raise hourly wages significantly and also be held accountable for providing level work opportunities directly connected to the acquisition of needed career skills. The results would be palpable. Many more students would be both economically and socially stable and more likely to understand why they need to study, work hard and do well academically.
What is the next step? Recast federal college work-study as federal work-learn, and make it available for high school and college students, especially those who are particularly vulnerable. Significantly expand the available federal resources, add the considerable unspent Covid relief dollars. Target that funding to subsidized market-rate, paid internships where the federal funding could pay a portion of the wages for students engaged in effective experiential learning with employers adding the rest. Open up the opportunity for employers across the private and public sector as well as not-for-profits, with a focus on those that pay a living wage, and couple those wages with a real high quality learning opportunity in the real world workplace. The result would be more students on a pathway from school, to college to career, with economic benefits provided to all Americans.
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