It is critical for small business owners to protect confidential data proactively because the average cost of a data breach is huge. And in a worst-case scenario, data breach incidents can force businesses to be defunct as well. In this post, you will learn – what is the cost of a data breach and what you do to cut down the cost.
Some companies prepare data breach reports each year to help understand various aspects of data breach incidents.
Here are the top three reputed resources for data breach reports:
Sponsored by IBM Security, The Cost of Data Breach Report features research independently done by Ponemon Institute annually. In this report, the institute studies companies impacted by data breaches worldwide.
Each year, Verizon Data Breach Investigations Report explains data-driven, real-world views on what commonly befalls companies with regard to cybercrime. This data breach study offers many actionable insights to beef up your cybersecurity.
If you want to look at how data breaches affect consumers across various reasons and industries, ForgeRock Consumer Identity Breach Report is the right resource. The report also offers insights into how one can strengthen cybersecurity to stay protected from attacks.
Data breaches often have long-term impacts on businesses. In addition to the cost of loss of data and regulatory fines, data breaches also have indirect costs, including employee turnover, lost revenue, customer turnover, negative search results, etc.
The following are key findings pertinent to data breach cost:
The average global cost of a data breach touched $4.35 million globally in 2022, according to the data breach report from IBM. This is an all-time high, up by 2.6% from the last year.
If you are curious about the average total cost of a breach in the US? The answer is $9.44 million. The average cost of a breach in the US is the highest globally.
Do you want to know the average cost of a data breach by industry? Look at the following data from the IBM report:
The healthcare industry has the highest data breach costs, and the public sector has the lowest costs.
Smishing, a type of phishing that relies on text messages to induce users to reveal sensitive data, is emerging as one of the most significant data breach threats.
A Proofpoint report states that smishing attacks doubled in US users in 2021. And data from Federal Trade Commission (FTC) revealed that 378,119 SMS-related fraud reports were filed in 2021.
Double checking messages that create a sense of urgency or fear, avoiding clicking suspicious links, and contacting banks and other authorities directly for account-related issues are some effective ways to protect from smishing attacks.
Here are industries that are the main data breach victims, according to the Verizon Data Breach Investigations Report:
After threat actors have encrypted data in a ransomware attack, business owners often consider paying the ransom. In fact, 53% of companies opt to pay for ransom. However, paying money isn’t always a good option. This is because paying threat actors encourages them to target more businesses And there is no certain that you will get full access to your data after the payment.
Uber paid hackers $100,000 to delete the compromised data but eventually spent $148 million in the final settlement.
The longer a breach goes undetected, the more time threat actors will have to exfiltrate/encrypt data. So it is no surprise that a shorter data breach lifecycle (time passed between the first detection of the breach and its containment) links with lower data breach costs.
Data breach lifecycle within 200 days related to a global average cost of $3.74 million in 2022. But a data breach lifecycle of more than 200 days is linked with an average cost of $ 4.86 million.
The average cost of a data breach per record is $164 globally, finds the IBM data breach report. The average data breach per record cost has increased by 1.2% from 2021.
Having remote workforces increases the costs of data breaches. According to the IBM data breach report, companies having more than 80% remote workforces pay $5.10 million in average data breach costs.
According to the IBM report, the average data breach lifecycle duration is 277 days in 2022. In 2021, it took an average of 212 days to identify a breach and 75 days to contain it, making an average data breach lifecycle duration of 287 days. The longer the data breach lifecycle is, the more data breach costs will be.
When it comes to data breaches, small businesses are heavily impacted. In fact, 28% of Data Breaches in 2020 involved small businesses, according to 2020 DBIR. An incident of a data breach can result in increased cost of products/services. The IBM report states that 60% of organizations’ breaches cause an increase in prices.
Implementing security AI and automation, having an incident response team, focusing on risks, and adopting a zero-trust model can cut down on the cost of a data breach.
Here are findings from the IBM report on data breach cost to prove it:
Now that you know – what is the cost of a data breach? It is time to strengthen your data security to protect customer data or any other kinds of sensitive data from any potential data breach.
Image: Envato Elements
By Noah Syken, Vice President of Sports and Entertainment Partnerships at IBM
For the last six years, IBM has been working with ESPN to infuse AI-generated insights into its fantasy football platform. But we needed someone who could help us tell the story — someone who could grab the attention of fantasy football enthusiasts, introduce them to the artificial intelligence of Watson, and encourage them to embrace the era of data-driven decision making. So we asked a guy that has a lot in common with IBM: Eli Manning.
Let me explain. Back in 2016, IBM formed a partnership with ESPN. In this relationship, we use IBM's advanced analytics and AI capabilities to analyze the massive amount of data produced by fantasy football. We then serve up insights that help guide the roster decisions of ESPN's fantasy football users. Today, those insights take the form of two features:
IBM is in the fantasy football business for two reasons. First, we're solving a very real business problem for a valued partner. Fantasy football is a critical form of digital engagement for ESPN, and one that requires constant innovation to stay ahead of the competition. And Watson's insights make the platform more fun and engaging.
The second reason is that ESPN Fantasy Football offers IBM a powerful platform to demonstrate our AI capabilities to 11 million people. Both Trade Analyzer and Player Insights are produced by transforming vast quantities of data into insights that inform decision-making. We're analyzing the performance statistics of all 1,900 players in the league. But the numbers don't always tell the whole story. So we're also using the natural language processing capability of Watson Discovery to mine insights from millions of blogs, articles, and podcasts produced by media experts. Last year alone Watson served up more than 34 billion AI-powered insights to ESPN fantasy players.
When Eli Manning joined the New York Giants back in 2004 as the number one pick in the draft, many Giants fans thought he would be the second coming of Joe Namath: a big star in the big city. But Manning was more subtle than that. There were no flashy fur coats or movie-star girlfriends. Just an understated, workman-like grit that produced two championships.
So what does that have to do with IBM? It has been 17 years since IBM sold its ThinkPad business to Lenovo. That was the last time our iconic "eight-bar" logo appeared on a consumer-facing device. But despite this lack of visibility, our work has never been more consequential than it is today. It's not flashy, but our technology and expertise support the operation of the most mission-critical systems on the planet: electrical grids, airlines, telecommunications networks, banks, government services, and many others.
Technologies like hybrid cloud and AI are powerful, complex, and often difficult for people to comprehend. They operate behind the scenes, in data centers and back offices. But they are critically important to our clients and the world. That's why we showcase the work of IBM Consulting through partnerships like the Masters, the US Open, and ESPN's Fantasy Football. And that is why Eli Manning is helping us tell our story.
Learn more about how IBM and ESPN are working together to bring data-driven insights to fantasy football.
This post was created by IBM with Insider Studios.
The MarketWatch News Department was not involved in the creation of this content.
Oct 14, 2022 (Heraldkeepers) -- 3 Key Insights on Competitive Landscape in Global Cloud Computing Market: Ken Research
Global Cloud Computing Market is Highly Competitive with the Presence of about ~500 Competitors Comprising a Large Number of Country-Niche Players, Regional Players, and Global Players, finds a recent market study on Global Cloud Computing Market by Ken Research
Cloud Computing is the online delivery of IT resources on demand of consumer instead of buying, owning, and maintaining physical, and the payment of the resources are done on how much consumers consume. Cloud services can either be public or private, yet these are typically delivered by third parties through various endpoints like websites, application software, and mobile apps.
Ken Research shares 3 key insights on this high opportunity market from its latest research study
Country Niche Players Constitute ~60% of Total Number of Competitors, While Regional Companies Constitute ~30% of Competitors in 2021.
A comprehensive competitive analysis conducted during the Research Study found that the Global Cloud Computing Market is highly competitive with ~500 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in advancement in cloud-based solutions for multiple end-user industries. The major global cloud solution companies, including Microsoft, AWS, Salesforce, Oracle, SAP, Google, Workday, Adobe, IBM, Alibaba, VMware, and HPE are expected to maintain their leading positions during the forecast period. The country-niche players are more focused on R&D to find out the investor's behavior towards the market and the partnership. Whereas some of the players who involve in creating cloud-based solutions get acquired by global players seeking to grow and diversify quickly.
Global Players’ and Focused Organizations Ongoing Efforts to Provide Diverse Cloud Solutions to End-User Industries Are Driving Their Revenue Growth In This Market.
Detailed comparative analysis of key competitors available within the Research Study shows that many cloud-based service providers are indulging in partnership, acquisition, and product launches to expand the cloud market in various regions. Moreover, various companies are also investing in a cloud-based solution for growth perspective.
Request For demo Report @https://bit.ly/3rXCUgZ
The Ongoing COVID-19 has noticeably contributed to the development of the Cloud Computing Market.
The outbreak of the COVID-19 pandemic impacted businesses drastically, stifling innovation, suppressing profitability, and drying up cash flow and financial reserves. IT and software development industries had been facing challenges due to this unforeseen outbreak.
Although all the outcry against COVID-19 has produced personal, professional, and community life, it also presented business opportunities. Thus, cloud computing solutions support teams in learning to collaborate, and businesses to adopt the remote working models. This scenario has propelled market growth in recent years. Multiple companies in different verticals have adopted the work-from-home model, driving up demand for Software-as-a-Service (SaaS)-based solutions. Moreover, Companies were also involved in new strategic development and product launches to retain their market share.
In March 2021, IBM released the IBM Cloud Satellite, an extension of the IBM Public Cloud. The IBM Public Cloud enabled its enterprise clients to launch consistent cloud services anywhere and in any environment across any cloud, on-premises, or at the edge.
The post-pandemic trends have enhanced the need for agility in how companies use smart technologies like mobile supercomputing, big data, IoT, and artificial intelligence. The Cloud Computing Market saw an increase in demand as businesses continued to move workloads from analog to digital formats.
Key Companies and Governments Focus on Promoting Cloud Computing as a part of Learning and Development Across Different Verticals.
Request For demo Report @https://bit.ly/3rXCUgZ
Key courses Covered in the Report
Leading Companies Mentioned in the Report
Notable Emerging Companies Mentioned in the Report
Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report
Time Period Captured in the Report
For More Information on the Research Report, refer to below links: -
Contact Us: –
Ankur Gupta, Head Marketing & Communications
The post 3 Key Insights on Competitive Landscape in Global Cloud Computing Market: Ken Research appeared first on Herald Keeper.
The MarketWatch News Department was not involved in the creation of this content.
After leaving school, Kevin Curtis spent 20 years working as a call operator in a security operations centre. It’s a job he’d still be doing now if he hadn’t had his interest piqued in building websites after starting a blog. He took an online course in coding to find out more – and that, he says, “sparked an interest which eventually became an interest in data analytics, machine learning and artificial intelligence”.
This intrigue eventually led to a career change. Curtis now works as a data entry coordinator for a corporate investment firm, a new direction he sought after studying for the IBM Data Science Professional Certificate on Coursera. “The programme goes through the process of getting information, gathering, preparing and then visualising data and putting it through basic machine learning algorithms,” he says.
For those like Curtis who don’t have many formal qualifications, Coursera offers the opportunity to acquire the in-demand business skills needed to change careers. With 5,200 courses available, there’s plenty of choice. They range from introductory courses for beginners to bachelor’s and master’s degrees from world-class universities – and everything in between.
Anyone who wants to find out more about online learning has the option to take one of the many free courses on offer, but many choose, as Curtis did, to work towards completing a Professional Certificate programme – a course typically lasting a few months, in which learners can build job-specific skills such as project management, digital marketing and cybersecurity. Professional Certificates, offered in partnership with global businesses, such as the Google Data Analytics Professional Certificate, IBM Data Science Professional Certificate and Meta Social Media Marketing Professional, are highly valued by employers and can help you gain new skills that enable you to switch careers.
Although students typically spend about eight hours a week in study, a principal attraction of Coursera is that students can work at their own pace. Curtis has now taken dozens of Coursera programmes, including the IBM Applied AI Professional Certificate. The suggested length of time for study was six months, but he completed it in just one. “I just fly through those things, especially when you have some knowledge already on those areas,” he says.
Learning is asynchronous (you don’t have to attend a lecture or seminar at a set time), and study materials are typically a mix of short videos and set texts, with revision quizzes to test knowledge at the end of each module. You can, however, ask questions to tutors or join an online discussion forum with other students.
Students can pay for each course individually, but Curtis chose the Coursera Plus option, which, for an annual subscription of £329, provides unlimited access to more than 90% of the learning programmes. Whenever he wants to learn a new skill for work, he turns to Coursera. “The annual subscription for me is brilliant because I dip in and out of things all the time. It’s a huge catalogue of different skills.”
Like Curtis, John Guinn doesn’t have a bachelor’s degree, but has used Coursera as a way to acquire and expand his professional skills. Guinn started his career as a telecoms engineer before setting up a travel agency. A weekly gig as a travel expert on a community radio show led to an interest in journalism, and he took a master’s degree in online journalism with a university – although this was not done through Coursera. He now works as a local news journalist, reporting on the activities of local authorities.
For Guinn, Coursera has offered him an easily accessible way of gaining the skills he needs to enable him to Excellerate at his job. He has taken seven courses so far, including a short course on scepticism, offered by the University of California, to Excellerate his ability to ask thoughtful questions. “Although my online journalism master’s taught me how to do online journalism, it didn’t teach me how to be a journalist,” he says.
Another Coursera course where he enriched his knowledge, and hence his questioning skills, was the Act on Climate: Steps to Individual, Community, and Political Action course, run by the University of Michigan. This has enabled Guinn to challenge local authorities directly about their policies relating to climate change.
The other courses he’s studied, more technical in nature, such as Visualization for Data Journalism, have taught him how to analyse and visualise data. These have been invaluable in enabling him to spot information tucked away in the spreadsheets that local authorities are legally required to publish. Close analyses can generate important local news stories by revealing information that a local authority is reluctant to publicise. It has enabled Guinn to spot, for example, that, despite making public pronouncements about the importance of recycling, one council’s recycling rate has gone down while its incineration rate has gone up.
Guinn plans to continue taking Coursera courses to sharpen his journalism and data analysis skills and, like Curtis, has signed up for an annual Coursera Plus subscription. He hopes these skills will help him move into more in-depth investigative journalism, focusing, in particular, on climate change.
Both Guinn and Curtis have found that Coursera courses can be life-transforming, contributing to their current positions. “Based on the value I’ve got from it, I’d absolutely recommend it,” says Curtis.
Whether you’re at the beginning of your career journey or looking to enhance your skillset to make a mid-career transition, you can choose from a range of learning experiences on Coursera to find the programmes that are right for you.
IBL News | New York
IBM announced last week that it will team with 20 historically black colleges and universities (HBCUs) to address the cybersecurity talent shortage.
The tech giant will establish Cybersecurity Leadership Centers on the campuses, giving students and faculty access to IBM training curriculum, enterprise security software, certifications, and simulated cyberattack training sessions at no cost.
The original group of schools in the IBM program included Clark Atlanta University in Georgia, Southern University System and the Xavier University of Louisiana, Morgan State University in Maryland, North Carolina A&T State University, and South Carolina State University.
The 14 additional universities, announced last week at an HBCU conference hosted by the U.S. Department of Education and the White House, span 11 states and include Tuskegee University in Alabama, Grambling State University in Louisiana, and Norfolk State University in Virginia.
With 500,000 unfilled cybersecurity jobs in the U.S., the need for expertise is critical, according to a recent IBM Security study.
Through IBM’s collaboration, faculty and students at participating schools will have access to:
The MarketWatch News Department was not involved in the creation of this content.
Oct 11, 2022 (Heraldkeepers) -- New Jersey, United States-This Professional Video Live Streaming Solution market examines the regional and global markets as well as the overall development opportunities in the industry. Additionally, it provides insight into the entire serious scene of the global Professional Video Live Streaming Solution industry. The research also includes a dashboard summary of the leading companies, outlining their successful marketing strategies, market commitment, and ongoing improvements in both historical and contemporary contexts.
The Global Professional Video Live Streaming Solution Market investigation report contains Types (Transcoding and Processing, Video Management, Video Delivery and Distribution, Video Analytics, Video Security, Others), Segmentation & all logical and factual briefs about the Market 2022 Overview, CAGR, Production Volume, Sales, and Revenue with the regional analysis covers North America, Europe, Asia-Pacific, South America, Middle East Africa & The Prime Players & Others.
The Worldwide Professional Video Live Streaming Solution market size is estimated to be worth USD million in 2022 and is forecast to a readjusted size of USD million by 2030 with a CAGR of % during the review period.
The Professional Video Live Streaming Solution market research provides a detailed analysis of the industry by providing information on a variety of angles, including drivers, constraints, opportunities, and risks. This information can help partners make wise decisions before contributing by guiding them. Beginning with the approval of the data handled in the auxiliary investigation is the crucial examination.
Professional Video Live Streaming Solution Market Segmentation & Coverage:
Professional Video Live Streaming Solution Market segment by Type:
Transcoding and Processing, Video Management, Video Delivery and Distribution, Video Analytics, Video Security, Others
Professional Video Live Streaming Solution Market segment by Application:
Broadcasters, Operators, and Media, BFSI, Education, Healthcare, Government, Others
The years examined in this study are the following to estimate the Professional Video Live Streaming Solution market size:
History Year: 2015-2019
Base Year: 2021
Estimated Year: 2022
Forecast Year: 2022 to 2030
Cumulative Impact of COVID-19 on Market:
More than 20 million COVID-19 cases would have been confirmed as of the study’s start date, and the pandemic had not been effectively controlled. We predict that the global Professional Video Live Streaming Solution market will reach million USD by the end of 2021 with a CAGR of between 2022 and 2030 and that the entire pandemic will have been largely contained by then.
Access a demo Report Copy of the Professional Video Live Streaming Solution Market: https://www.infinitybusinessinsights.com/request_sample.php?id=1020035
The APAC (Asia Pacific) district is anticipated to experience the greatest rate of growth in the Professional Video Live Streaming Solution Market among all geographical areas. One explanation for this development could be the widespread advancement in countries like South Korea, China, Japan, and India. The rate of improvement in China is stabilizing as it considers various evened-out measures, stock charges, and current yield.
The Key companies profiled in the Professional Video Live Streaming Solution Market:
The study examines the Professional Video Live Streaming Solution market’s competitive landscape and includes data on important suppliers, including Brightcove, Haivision, IBM, Ooyala, Vbrick, Qumu Corporation, Kaltura, Contus, Sonic Foundry, Panopto, Wowza Media Systems, Kollective Technology,& Others
Table of Contents:
Chapter 2. Executive Summary
Chapter 3. Industry Outlook
3.1. Professional Video Live Streaming Solution Global Market segmentation
3.2. Professional Video Live Streaming Solution Global Market size and growth prospects, 2015 – 2026
3.3. Professional Video Live Streaming Solution Global Market Value Chain Analysis
3.3.1. Vendor landscape
3.4. Regulatory Framework
3.5. Market Dynamics
3.5.1. Market Driver Analysis
3.5.2. Market Restraint Analysis
3.6. Porter’s Analysis
3.6.1. Threat of New Entrants
3.6.2. Bargaining Power of Buyers
3.6.3. Bargaining Power of Buyers
3.6.4. Threat of Substitutes
3.6.5. Internal Rivalry
3.7. PESTEL Analysis
Chapter 4. Professional Video Live Streaming Solution Global Market Product Outlook
Chapter 5. Professional Video Live Streaming Solution Global Market Application Outlook
Chapter 6. Professional Video Live Streaming Solution Global Market Geography Outlook
6.1. Professional Video Live Streaming Solution Industry Share, by Geography, 2022 & 2030
6.2. North America
6.2.1. Professional Video Live Streaming Solution Market 2022 -2030 estimates and forecast, by product
6.2.2. Professional Video Live Streaming Solution Market 2022 -2030, estimates and forecast, by application
6.2.3. The U.S.
6.3.4. the UK
Chapter 7. Competitive Landscape
Chapter 8. Appendix
Where can Professional Video Live Streaming Solution market participants be certain that the most fruitful local business sectors will survive?
What elements will affect Professional Video Live Streaming Solution market interest?
What will the changing Professional Video Live Streaming Solution market trends mean?
What effects will COVID-19 have on the Professional Video Live Streaming Solution market?
International: +1 518 300 3575
The MarketWatch News Department was not involved in the creation of this content.
‘I want to increase the number of clients, also, not just wallet share,’ IBM CEO Arvind Krishna says at The Channel Company’s Best of Breed conference in Atlanta. ‘That means that we need your help. We are not going to go there directly at all.’
Under Arvind Krishna’s watch, IBM has decreased the number of direct customers from about 5,000 in 2020 to about 400, the CEO told a crowd Monday. And the tech giant plans to leave potential new clients to partners.
“I want to increase the number of clients, also, not just wallet share,” Krishna said. “That means that we need your help. We are not going to go there directly at all.”
The CEO of Armonk, N.Y.-based IBM discussed his company’s investment in partners, the integration of subsidiary Red Hat, encouraged partners to raise their prices given the inflationary economic environment and even weighed in on chipmaker Broadcom‘s pending acquisition of cloud vendor VMware at CRN parent The Channel Company’s 2022 XChange Best of Breed (BoB) conference in Atlanta.
Krishna was on stage responding to questions from The Channel Company Founding Partner Robert Faletra and CRN Executive Editor of News Steven Burke.
[RELATED: IBM Assimilates Red Hat Storage Technology Into Own Storage Business]
Mark Wyllie, CEO of Boca Raton, Fla.-based IBM partner Flagship Solutions Group, told CRN in an interview that he’s glad to hear IBM plans to continue integrating different parts of the Red Hat business.
Earlier this month, IBM announced that it had absorbed storage technology and teams from its Red Hat business to combine them with IBM’s own storage business unit as a way to help clients take advantage of the two without requiring extra integration or having to deal with multiple sales teams.
Wyllie wants to see IBM further integrate Red Hat services into its portfolio to help partners push the services out to existing IBM customers.
“I think that’d be a benefit to us and IBM,” Wyllie said.
Red Hat’s autonomy within IBM has been essential to its position as an open source software vendor. Krishna clarified Monday that the Red Hat brand will stay in areas where it has a stronger brand than IBM. For storage, “maybe we already have a storage channel, which Red Hat kind of didn’t,” Krishna said.
He said IBM gave Red Hat more security and management capabilities after its acquisition in 2019. Partners can expect more integration between Red Hat and IBM in areas involving Linux.
“So if you can take maybe 50,000 Linux servers and consolidate them using OpenShift on LinuxOne, maybe that‘s a play to be made,” Krishna said. “There’s a few clients who have woken up to that and are doing it right now. So I think that’s going to be a really big play you’re going to see.”
During his talk, Krishna encouraged partners to explore more opportunities in IBM’s artificial intelligence operations (AIOps) offerings, including Turbonomic, Watson AIOps and Instana.
Customers will continue to spend on automation tools, he said.
“The ability to go into an enterprise and tell them, ‘Look, we can do things a lot more automated. We can take some cost out. We can do monitoring, and eventually go closed loop on AI’ – which I don‘t think is happening yet,” Krishna said. “I think is a massive opportunity given the current labor market.”
IBM’s security offerings, as well as Red Hat and containerization offerings, are also areas for partners to invest in, Krishna said.
As for Broadcom and VMware, Krishna said that VMware remains an important partner for his company. And as long as VMware keeps investing in its products, it should remain “a strong franchise.”
“I think it’ll come down to what is going to happen in 2023 and 2024,” Krishna said. “As long as they keep innovating on the products, they keep giving more function back to their clients – it’s a strong franchise. That falls away, then that‘s a different question. But I think the virtualization world likes those products. Now it’s up to them to keep innovating.”
Krishna also told partners they should raise prices to cover the growing cost of labor with such high inflation in the U.S.
“From our conversations with clients, I would tell you that nobody loves it, but they all understand,” he said. “Because most of our clients are doing the same out to their clients. … Pricing power comes down to something simple. Is the product highly valuable and is it sticky? … In a world of fewer skills, if you have the skills, you can price those skills.”
POUGHKEEPSIE, N.Y. — President Joe Biden said Thursday that a $20 billion investment by IBM in New York’s Hudson River Valley would help supply the United States a technological edge against China, hailing the expansion during an appearance with two House Democrats in competitive races in next month’s critical elections.
The president cited IBM’s commitment as part of a larger manufacturing boom, spurred by this summer’s passage of a $280 billion measure intended to boost the semiconductor industry and scientific research. That legislation was needed for national and economic security, Biden said in Poughkeepsie, adding that “the Chinese Communist Party actively lobbied against” it.
“The United States has to lead the world of producing these advanced chips — this law is going to make sure that it will,” Biden said.
Democratic candidates have largely avoided election-year appearances with Biden, whose approval ratings remain underwater. Bucking that trend in New York were Reps. Sean Patrick Maloney and Pat Ryan.
The lawmakers, along with Democratic Gov. Kathy Hochul, greeted Biden upon his arrival at Stewart Air National Guard Base.
“When I heard @POTUS was looking to see the benefits of the CHIPS & Science Act first-hand, I told him that the Hudson Valley was the perfect place,” Maloney wrote Wednesday on Twitter. “I’m thrilled to host him in Poughkeepsie this week to celebrate the major wins and good-paying jobs we are delivering here in NY.”
The CHIPS and Science Act, which Biden signed in August, was a rare bill for which the president was able to win bipartisan support.
IBM’s $20 billion investment over the next decade is intended to bolster research and development and manufacturing of semiconductors, mainframe technology, artificial intelligence and quantum computing.
“As we tackle large-scale technological challenges in climate, energy, transportation and more, we must continue to invest in innovation and discovery — because advanced technologies are key to solving these problems and driving economic prosperity, including better jobs, for millions of Americans,” said Arvind Krishna, IBM’s chairman and CEO.
IBM’s commitment comes on the heels of chipmaker Micron announcing this week an investment of up to $100 billion over the next 20-plus years to build a plant in upstate New York that could create 9,000 factory jobs. In his remarks, Biden also celebrated Intel’s plant groundbreaking in Ohio and an investment by WolfSpeed for chip production in North Carolina.
Maloney, chairman of the powerful Democratic congressional campaign fundraising arm, is running against Republican state Assemblyman Mike Lawler in the 17th Congressional District. Ryan faces state Assemblyman Colin Schmitt in the 18th District.
The boundaries of most New York districts, including Maloney’s and Ryan’s, have been affected by redistricting.
Ryan in August won a close special election to serve out the term of Democrat Antonio Delgado, who vacated his 19th District seat after he was appointed lieutenant governor by Hochul. Ryan is running for a full term in the 18th District, where he lives.
Maloney, who had represented that district since 2013, decided to run in the 17th District. His Hudson Valley home fell inside the new boundaries after redistricting.
Hochul, who took office last year after Democrat Andrew Cuomo resigned amid sexual harassment allegations, is looking to win a full term. Her opponent is Republican Rep. Lee Zeldin.
Later Thursday, Biden was scheduled to be in central New Jersey for a fundraiser at the home of Gov. Phil Murphy in support of the Democratic National Committee. In the evening, Biden planned to attend a Democratic Senatorial Campaign Committee fundraiser in Manhattan hosted by James Murdoch, the son of News Corp. publisher Rupert Murdoch.
James Murdoch and his wife, Kathryn, a climate change activist, were major donors to Biden’s 2020 presidential campaign. In 2020, Murdoch resigned from the board of News Corp. amid differences over editorial content at his father’s company, which operates The Wall Street Journal and the New York Post. The elder Murdoch is also chairman of Fox Corp., which includes Fox News Channel.
While Biden has been kept at arms length by many Democratic candidates, he’s been a prodigious fundraiser for his party this election cycle, raising more than $19.6 million for the Democratic National Committee.