More than 18 months after its inception, OneTen–the initiative designed by Kenneth Frazier, retired CEO and current executive chairman of pharmaceutical giant Merck, former American Express Chairman and CEO Ken Chenault, and former Infor CEO and Chairman Charles Phillips–has been gaining momentum fulfilling pledges made by leaders of the nation’s largest companies to create 1 million family-sustaining, career-advancing jobs for Black non-degree holders over the next decade.
Maurice Jones, who has served in an array of high-impact positions, including as Deputy Secretary for HUD during the Obama administration, and head of Local Initiatives Support Corporation, was recruited last February to serve as the honcho for this mammoth effort–an act Frazier asserts “was the most important thing to happen in the first year.”
The move has proven fruitful: Thus far, OneTen has helped find employment for 41,000 people.
Frazier maintains that building this coalition of CEOs to urgently address the lack of employment opportunities and income inequality among African Americans was an outgrowth of the wave of corporate commitments announced in 2020 in response to worldwide protests against systemic racism inspired by the George Floyd tragedy. To achieve this end, Jones and his team brought together:
Last month, OneTen beefed up its online Career Marketplace to reinforce its ecosystem. The enhanced platform leverages “smart technology” to facilitate matching employers, talent developers, and candidates at scale and Excellerate analytics capabilities. Moreover, the upgrade offers job seekers an enhanced talent developer referral system laden with resources and opportunities.
“The timing of our expansion of OneTen’s Career Marketplace with Juneteenth is not a coincidence. As we mark this momentous holiday, we do so while simultaneously acknowledging how much work still needs to be done to close the staggering and widening racial wealth gap in the United States,” Jones said at the time of the announcement. “We believe that catalyzing quality, family-sustaining employment opportunities at scale for Black talent will effectively address that gap and the great disparities that exist in the workforce.”
Jones also told BE: “The encouraging thing for me is this is a skills-first movement that can touch every industry and every job classification. That means we got a heck of a lot of opportunity here.”
Frazier agrees with his assertion, citing that 76% of African Americans don’t have a four-year degree versus 76% of Americans age 26 without that credential.
“That’s a big gap. If we allow a situation to exist where four-year degrees are the entry-level criteria, then we’re excluding 3 out of 4 Black folks from ever having an opportunity. We formed this around closing that opportunity gap, creating pathways for African Americans who otherwise would not have a pathway to family-sustaining careers.”
As of 2022, the MIT Living Wage Calculator reveals that the range of such income is currently between $60,000 to $90,000 and higher, depending on a given location.
Corporate partners have adopted that mandate. For example, United Airlines has infused the initiative as part of its talent-building apparatus to meet the carrier’s goal of adding 50,000 workers to its payroll within the next five years.
“Joining OneTen will build on our current talent practices to further develop, retain and advance diverse talent to positions across the airline, better reflecting the customers and communities United serves,” United CEO Scott Kirby, who serves as chair of the Business Roundtable’s Education and Workforce Committee, said in a released statement.
“I look forward to learning from and working with other companies to close the opportunity gap for Black talent and increase opportunities for underrepresented groups in our workforce.”
At a accurate OneTen networking event in Philadelphia, Frazier, Jones, and Sulaiman Rahman, CEO of DiverseForce, a human capital solutions firm and local partner, shared their outlook in an exclusive interview with BLACK ENTERPRISE. The following are edited excerpts from that conversation.
Do you have an industry breakdown on where people have been employed?
Jones: If you look at the distribution across industries, it’s retail, healthcare, pharmaceuticals, manufacturing, and finance. They would be the big ones. Then if you looked at the genuine jobs, it’s really dispersed. It’s sales jobs, business operations jobs, manufacturing jobs, HR jobs, and finance jobs.
So, how does OneTen track the job retention of these new hires?
Jones: It’s still early but [member] companies have to report to us quarterly. Amongst the data points we are capturing are retention and advancement. We actually want more than just retaining people in frontline jobs, which we see a lot of. What we really want is advancement and promotion. So, we’re trying to track their journey through the company.
Even though your member companies are hiring entry-level workers, how do you encourage them to place people on a management path?
Frazier: Well, that’s why we say this is about family-sustaining careers. This is not about just hiring. It’s about development, promotion, retention, and advancement. Those are the things that we’re focusing on.
Jones: So, we do that in a number of ways. One of the things that we are saying is that skills first is an approach for both new hires and promotions because you got a lot of folks who are working in these companies, have been working in them, doing a great job, and the reason they’re not getting promoted is some artificial credential. So, what we’re trying to do with these companies is actually get them to re-credential not just entry-level jobs but all of their jobs. Look at your company from the perspective of building jobs and pathways that are skills first, and that includes promotion opportunities.
Regardless of what level you enter a company, employees will need a skills upgrade to stay with that company.
Frazier: That’s a really important point. One of the things that I stress to people at Merck is that we live in a world with so much change. If you’re going to hire people based on past knowledge and past experience, you’re not necessarily hiring the right person to take you forward. It’s not really your knowledge base or your experience base. Are you intellectually curious? Are you adaptable? Are you the kind of person who’s willing to take a risk? Those things don’t necessarily have anything to do with that college degree. It’s the kind of person that you’re looking for that’s going to help drive through the change that we have in our society.
Some workplace veterans have real concerns. They say, “I may not have a college degree, and I may have started in the workforce 20, 30, 40 years ago, but are you looking at embracing baby boomers and GenXers as well as millennials and GenZers?” The emphasis has been on the younger employees.
Jones: I’m glad you asked that. So OneTen is from 18 to 65. In fact, our average age of a hire is 33. The point is there are a lot of folks already in the workplace who have skills that would make them ready for jobs paying significantly more than what they’re making now and for jobs that enable them to have more responsibility than they have now.
What have been the most significant challenges for OneTen?
Jones: If I had to pick the greatest challenge, and I’m projecting over time, [it] will be whether we can inspire and sustain the trust that is needed to actually succeed. Companies have to trust that there is talent that they’re missing and that we can help them source that talent. Talent has to trust that the companies really want them; really value and respect them. The organizations that provide support to talent, whether they’re trainers, coaches, or mentors, really have to believe that you have the best interest of that talent at heart. We’re trying to get all of those players to work as a high-functioning team, and every coach will tell you the most valuable asset of a team is trust.
Frazier: The question is, if we’re going to talk about 1 million people, how do we do this at scale? And secondly, in order to do it at scale, how do we make sure that we don’t lose the momentum in the companies that have joined [this effort]. How do we make sure that it doesn’t lose momentum because people forgot about George Floyd, which was the impetus to do this? It’s important that all corporations had to agree on a 10-year commitment. They had to put money on the table. We didn’t let anybody come in saying, ‘I’m going to do this for a couple of years,” and then drop out.
How did the partnership between OneTen and DiverseForce evolve? What are the expectations?
Rahman: Seeing Ken Frazier and other heavy hitters make time to focus on something specific as Black talent was exciting to me and aligned with our mission to elevate Black talent in [Philadelphia]. We constantly challenge companies to rethink whether a four-year degree is needed for certain roles they are hiring for.
What I see this initiative do is democratize excellence for those who don’t have access to four-year education at these universities that are becoming more and more prohibitive to get into…some of this talent who’s taking care of family members [and] can’t afford to take off four years with no pay.
So, I was really excited to see an opportunity with our assets in Philadelphia, along with the social capital of Ken Frazier, Maurice Jones, and all the partners they have in place. We feel we can certainly be a win-win relationship. Let’s say we’re one plus one to equal 11. We saw that opportunity to make that happen here in Philadelphia.
How do you collaborate with the member companies to meet DiverseForce’s objectives?
Rahman: We’re an extension of OneTen here in Philadelphia to really carry forward their mission to convene the appropriate stakeholders as far as employer partners, talent developers, and talent connectors. We’re the air traffic controllers here in Philadelphia to make sure that we’re working together to advance the mission.
Jones: We wanted a local-based organization that would be the convener of the ecosystem. So, he’s got to touch every single one of the players—the employers, talent developers, talent, and the talent support. That’s what DiverseForce is going to go for.
OneTen’s focus on hiring and promoting large numbers of Black people comes from the top at member companies. How do you ensure all managers within these corporations embrace this mandate?
Frazier: First, you touched on something very important: it’s a CEO-led mission. We realized that to drive this kind of change through an organization, if the CEO is not supportive, it’s just not there. But you need more than the CEOs. It has to be people at every level. I know from my experience that the CEO can say something [and by the time it gets] down to the middle of the organization, they’re like, “I can’t hear you.” You want to make sure that you have people advocating for this in the HR organizations. We’re asking CEOs to make a 10-year commitment to ensure that this gets driven throughout their company. It is not just deja vu. It requires commitment at all levels.
ROCHESTER — The mission has just begun for a group of P-TECH 535 students.
The students, part of the information technology pathway at P-TECH 535, gathered before class at Rochester Community and Technical College on May 25, 2022, to watch the launch of the Falcon 9 rocket that is carrying a small satellite the students will monitor and work with over the next two years.
Launched on a Falcon 9 rocket, built and operated by SpaceX, from the Cape Canaveral Space Force Station in Cape Canaveral, Florida, the rocket contains 59 small satellites, one of which will be monitored by these P-TECH students.
The program, called Endurance, allows the students to monitor and work on the CubeSat satellite as part of a program sponsored by IBM. Rochester’s P-TECH students were one of five groups of students internationally to be selected to work on this program.
According to Earth Tieskotter, a ninth-grade student involved in the IT pathway at P-TECH 535, the students first heard about the Endurance program through P-TECH teacher Vince Wagner. Seven students from the IT track volunteered to work on the Endurance program and collaborated to write their application.
“We wrote that together and that was pretty cool,” Tieskotter said. “Then we actually got admitted into it, which is crazy because there’s five of us in the whole world and only two are in the US.”
Tieskotter, who wants to be an astronaut one day, said they hope to get experience with coding and research from their experience working on the Endurance project.
“We're gonna send code up into the satellite, the CubeSat, and it's going to do research up there and even take photos of planets and stuff like that,” Tierskotter said.
Since getting selected for the Endurance program, Wagner said the group has been working on becoming familiar with the components of the CubeSat satellite before they start working on their first project: To write java code that will track the satellite’s location in its orbit.
“It brings real life to learning,” Wagner said. “It's really gonna motivate, I think, their code writing. It’s gonna motivate their math. That's really what education should be about.”
According to Wagner, the satellite could stay in orbit from two to 10 years, and the seven students involved in the Endurance program committed to staying involved in monitoring and working on the satellite for two years.
Leah Baethke, a literacy teacher for P-TECH 535, said her goal is to see P-TECH students develop the skills they will need to be successful in their careers, whether those are content-based skills or other skills like professionalism and teamwork.
“We could potentially have kids graduating high school at 18 with their LPN diploma or associate’s degree,” Baethke said. “They’re going to be ready to go into a really solid, good paying job, and that is going to open up opportunities for these kids that are just unbelievable."
1/3: P-TECH 535 instructor Sandy Woodward helps students set up their coding software which will be used to program functions into a CubeSat that was on board a SpaceX Falcon 9 rocket that launched from Florida on Wednesday, May 25, 2022.
2/3: P-TECH 535 core team instructor Angela Smith helps students program a control module that allows them to add functional additions such as a programmable speaker with a coding program at Rochester Community and Technical College on Wednesday, May 25, 2022.
3/3: P-TECH 535 numerology (math) teacher Vince Wagner explains the speed of the SpaceX Falcon 9 rocket that launched from Florida to a student as part of an IBM sponsored event at Rochester Community and Technical College on Wednesday, May 25, 2022.
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FCC taps GSA’s Hill to be new CIO (Federal News Network) Allen Hill, the deputy assistant commissioner for Category Management in the Federal Acquisition Service at the General Services Administration, will take over the FCC’s lead technology role on Aug. 1.
Iran TV says several foreigners, a UK diplomat, detained for alleged spying (Reuters) Iran's Revolutionary Guards have detained several foreigners, including Britain's second most senior envoy in Tehran, for alleged acts of spying such as taking soil samples in restricted areas, state television reported on Wednesday.
Draft Online Safety law requires encrypted chat CSAM scans (Register) 'It is possible to implement end-to-end crypto in a way that preserves privacy,' claims UK Home Sec
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Vincent Caprio founded the Water Innovations Alliance Foundation (WIAF) in October 2008. In this role he created the Water 2.0 Conference series of which he is currently the Chairman Emeritus. As an early advocate for nanotechnology, Mr. Caprio is the Founder and Chairman Emeritus of the NanoBusiness Commercialization Association (NanoBCA). In 2002, he launched the highly successful NanoBusiness Conference series, now in its 19th year.
A pioneer at the intersection of business and technology, Vincent Caprio possesses a unique ability to spot emerging and societally significant technologies in their early stages. He successfully creates brands and business organizations focused on specific technology markets, and launches events that not only educate, but also connect and empower stakeholders that include investors, technologists, CEOs and politicians.
It is Mr. Caprio’s avid interest in history and background in finance that enabled him to be among the first to recognize the impact that specific technologies will have on business and society. By building community networks centered around his conferences, he has facilitated the growth of important new technologies, including nanotechnology, clean water technology and most recently, engineering software.
Mr. Caprio is also one of the foremost advocates for government funding of emerging technology at both the State and Federal levels. He has testified before Congress, EPA, Office of Science and Technology Policy (OSTP), as well as the state legislatures of New York and Connecticut, and has been an invited speaker at over 100 events. Mr. Caprio has also organized public policy tours in Washington, DC, educating politicians about emerging tech through meetings with high-level technology executives.
In the events sector, Mr. Caprio served as the Event Director who launched of The Emerging Technologies Conference in association with MIT’s Technology Review Magazine. He also acted as consultant to the leading emerging technology research and advisory firm Lux Research, for its Lux Executive Summit in 2005 & 2006. In 2002, Mr. Caprio served as the Event Director and Program Director of the Forbes/IBM Executive Summit.
Prior to founding the NanoBCA, Mr. Caprio was Event Director for Red Herring Conferences, producing the company’s Venture Market conferences and Annual Summit reporting to Red Herring Magazine Founder and Publisher Tony Perkins, and Editor, Jason Pontin. His industry peers have formally recognized Mr. Caprio on several occasions for his talents in both tradeshow and conference management.
Mr. Caprio was named Sales Executive of the Year in 1994 while employed with Reed Exhibitions, and was further honored with three Pathfinder Awards in 1995 for launching The New York Restaurant Show, Buildings Chicago and Buildings LA.
Prior to joining Reed Elsevier’s office of the Controller in 1989, Mr. Caprio was employed at Henry Charles Wainwright investment group as a Senior Tax Accountant. In the 1980’s, he specialized in the preparation of 1120, 1065 and 1040 tax forms, and was also employed with the Internal Revenue Service from 1979- 1981.
During the past 10 years, Mr. Caprio has been involved in numerous nonprofit philanthropic activities including: Fabricators & Manufacturers Association (FMA), Easton Learning Foundation, Easton Community Center, Easton Racquet Club, First Presbyterian Church of Fairfield, Omni Nano, FBI Citizen’s Academy, Villanova Alumni Recruitment Network and Easton Exchange Club.
Mr. Caprio graduated from Villanova University with a Bachelor of Science in Accounting/MIS from the Villanova School of Business. He received an MBA/MPA from Fairleigh Dickinson University.
In the spring of 2015, Mr. Caprio was appointed to Wichita State University's Applied Technology Acceleration Institute (ATAI) as a water and energy expert. In 2017 he was named Program Director of the Center for Digital Transformation at Pfeiffer University. Mr. Caprio was elected in November 2016 and serves as the Easton, Connecticut Registrar of Voters.
US tech giant IBM said Wednesday that it acquired Israeli startup Databand.ai, the developer of a data observability software platform for data scientists and engineers, to strengthen the multinational’s data, artificial intelligence, and automation offerings.
The terms of the acquisition were not disclosed. According to the agreement, Databand employees will join the IBM Data and AI division to further enhance IBM’s portfolio of data and AI products including its IBM Watson, a question-answering computer system, and IBM Cloud Pak for Data, a data analytics platform.
IBM said the acquisition was finalized in late June and that the purchase will build on IBM’s research and development investments, as well as strategic acquisitions in AI and automation. Databand is IBM’s fifth acquisition this year, the company noted.
Databand was founded in 2018 by Josh Benamram, Victor Shafran, and Evgeny Shulman, and rolled out a software platform that the company says helps enterprises and organizations get on top of their data to ensure “data health” and fix issues like errors and anomalies, pipeline failures, and general quality.
The data observability and data quality market is likely to see further growth, as more organizations look to closely track and protect their data. A Statista report estimated that the sector will grow from about $13 billion in worth in 2020 to almost $20 billion in 2024.
Based in Tel Aviv, Databand has raised about $20 million, according to the Start-Up Nation Finder database, with investors such as VCs Accel, Blumberg Capital, Ubiquity Ventures, Bessemer Venture Partners, Hyperwise, and F2 Ventures.
“By using Databand.ai with IBM Observability by Instana APM [an application performance monitoring solution] and IBM Watson Studio, IBM is well-positioned to address the full spectrum of observability across IT operations,” IBM said in the announcement Wednesday.
“Our clients are data-driven enterprises who rely on high-quality, trustworthy data to power their mission-critical processes. When they don’t have access to the data they need in any given moment, their business can grind to a halt,” said Daniel Hernandez, general manager for IBM Data and AI, in a statement.
“With the addition of Databand.ai, IBM offers the most comprehensive set of observability capabilities for IT across applications, data and machine learning, and is continuing to provide our clients and partners with the technology they need to deliver trustworthy data and AI at scale,” he explained.
Benamram, who serves as Databand CEO, said: “You can’t protect what you can’t see, and when the data platform is ineffective, everyone is impacted –including customers. That’s why global brands such as FanDuel, Agoda and Trax Retail already rely on Databand.ai to remove bad data surprises by detecting and resolving them before they create costly business impacts.
Joining IBM will help Databand “scale our software and significantly accelerate our ability to meet the evolving needs of enterprise clients,” he added.
Databand is one of a number of leading Israeli data observability companies including Coralogix, which raised a $142 million Series D funding round announced in May, and Monte Carlo, which secured a $135 million Series D round at a valuation of $1.6 billion, also in May.
Separately, IBM has been active in Israel for decades and runs an R&D center in Tel Aviv and a research lab in Haifa.
The Haifa team is the largest lab of IBM Research Division outside of the United States. Founded as a small scientific center in 1972, it grew into a lab that leads the development of innovative technological products and cognitive solutions for the IBM corporation. Its various projects utilize AI, cloud data services, blockchain, healthcare informatics, image and video analytics, and wearable solutions.
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IBM today announced that it acquired Databand, a startup developing an observability platform for data and machine learning pipelines. Details of the deal weren't disclosed, but Tel Aviv-based Databand had raised $14.5 million prior to the acquisition.
Databand employees will join IBM's data and AI division, with the purchase expected to close on July 27.
In a statement, IBM general manager for data and AI Daniel Hernandez said that folding Databand into IBM's broader portfolio would help the latter's customers better identify and fix data issues including errors, pipeline failures and poor quality. The plan is to expand Databand's observability capabilities for integrations across open source and commercial tools, while allowing customers to have "full flexibility" in running Databand either as a service or a self-hosted subscription.
"Our clients are data-driven enterprises who rely on high-quality, trustworthy data to power their mission-critical processes. When they don't have access to the data they need in any given moment, their business can grind to a halt," Hernandez said.
Hernandez sees Databand complementing IBM's existing observability tools, namely IBM Observability by Instana APM and IBM Watson Studio. For example, he suggests, Databand could alert engineers when the data they're using to power an analytics system is incomplete, triggering Instana to explain where the missing data originated and why the system is failing.
"With the addition of Databand, IBM ... is continuing to provide our clients and partners with the technology they need to deliver trustworthy data and AI at scale," Hernandez added.
Databand was co-founded in 2018 by Josh Benamram, Victor Shafran and Evgeny Shulman. As my colleague Ingrid Lunden wrote in her profile of the company two years ago, Databand crunches various pipeline metadata including logs, runtime info and data profiles, and presents it in a single platform alongside data from other sources like Airflow, Spark and Snowflake. The goal is to supply engineers a view of where bottlenecks or anomalies are appearing and the potential reasons why.
Databand managed to attract notable customers including FanDuel, Agoda and Trax Retail. Accel, Blumberg Capital, Lerer Hippeau, Ubiquity Ventures, Differential Ventures and Bessemer Venture Partners were among the early investors.
"You can’t protect what you can’t see, and when the data platform is ineffective, everyone is impacted – including customers," Benamram said in a statement. "That’s why global brands ... already rely on Databand to remove bad data surprises by detecting and resolving them before they create costly business impacts. Joining IBM will help us scale our software and significantly accelerate our ability to meet the evolving needs of enterprise clients.”
Data observability is a burgeoning -- and perhaps even recession-proof -- market. As the volume of data continues to climb, organizations are struggling to manage the health and quality of their datasets (so the vendor narrative goes). Statista estimates that the sector will increase from $12.98 billion in worth in 2020 to $19.38 billion in 2024, buoyed by the growth of startups like Manta, Monte Carlo, Edge Delta and Cribl. Investors poured over half a billion dollars into observability startups in May alone.
In a press release, IBM notes that Databand is its fifth acquisition in 2022. It continues the buying spree Arvind Krishna kicked off when he became CEO two years ago, focused on companies in AI, automation, cloud and IT.
LONDON, July 12, 2022 /PRNewswire/ -- ION, the largest global provider of trading, analytics, business information, and risk management solutions for capital markets, commodities, and treasury management, has appointed Carlo Purassanta as Executive Vice President for Strategy and Corporate Development.
Andrea Pignataro, ION's Founder and CEO, said, "Carlo's extensive experience in leading top global teams at the forefront of technological innovation is strategic for ION as we continue to expand and innovate in a growing number of segments."
Carlo Purassanta, ION's Executive Vice President, said, "I am thrilled to join ION. The company holds a unique, strategic position in a constantly expanding global sector. I am enthused by its model to combine the financial sophistication, skills, and speed of execution of large private equity funds with the depth, stability, and long-term approach of an industrial operator at scale. ION's growth over the past 20 years is outstanding and I look forward to contributing to support it further."
Carlo has been President of Microsoft Italia (2013–2017) and Microsoft France (2018–2021). Before this, Carlo worked for IBM and has been Business Development Executive for Southwest Europe, and Director in France and in EMEA. He holds an Engineering degree from Politecnico di Milano in Italy, and a Master of Business Administration (MBA) from Henley Business School in the UK.
Carlo currently is a member of the Strategy Advisory Board for the Graduate School of Management of Politecnico di Milano, a member of the Advisory Board for Only The Brave (OTB), and a member of the Investment Board of the French Touch Fund.About ION
ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.For further information, please contact:
+44 20 7173 1520
+44 20 3745 4960
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