By Sreeram Kolisetty
What is common between JP Morgan Chase, Jim Beam, Cigna, State Street companies which are more than 200-year-old in existence and companies such as PayPal, Tesla, Zoom which are in business for about 2.5 decades? How companies such as IBM, Microsoft, Apple went through big changes and turned around their fates with great market capitalization? What is the pattern that one can observe in these companies?
If we carefully examine what went inside these companies and what their fundamental DNA is – all these companies re-invented themselves to suit the times of the age, introduced new processes, new methods, and new ways of doing things, and continued to be profitable and continued to build that customer loyalty and stayed afloat in the business. In simple words, they transformed their businesses to suit changing times.
Jim Collins in his book Built to Last describes “Visionary companies are so clear about what they stand for and what they’re trying to achieve that they simply don’t have room for those unwilling or unable to fit their exacting standards”. This is so valid for all the companies whether they are new age or old age. Old Age companies have now stepped into a new age, and companies of the late 20th century and early 21st century are quick to understand and quick to change their operating models and always focus on the customer and building value for the company.
Given the current circumstances of the new age companies, they not only need to work on the transformation but embrace digital transformation as the world is mostly digital these days. You cannot imagine a company that does not embrace some technology in today’s world. As times start changing more rapidly, companies need to be quick as well in transforming themselves. Customer loyalty is a thing of the past, and now it is essential for companies to keep customers engaged constantly to ensure a constant flow of revenue to the company. If customers are not engaged, competitors will just take away your customers. It is inevitable to constantly wonder the customers about products/ solutions. Innovation, faster delivery and technical excellence with breakproof implementation are the solutions to go.
Digital transformation is not just a fancy word, it is essential, and companies must master in transforming themselves to stay in the business and thrive. Lean-Agile is here to stay and this mindset needs to be applied across organization from leadership to the interns in the company. Building that culture and processes around Lean-Agile mindset are the ultimate responsibility of the visionary leaders. Many entrepreneurs start with a good vision and obtain initial success, but a lack of innovation and the ability to constantly engage their customers will make them shut down their ideas faster. There are very few successful entrepreneurs who made it into the unicorn club. A unicorn club is certainly a privilege, having a vision, roadmap, and consistently pivoting from the product failures and maximizing the success will make a start-up into a unicorn. Digital transformation is certainly a winning proposition for all startups. It is necessary for a start-up to get mentors in this space for better success in their endeavors.
The author is global chief information officer at KnowledgeHut upGrad.
Autism is known as a spectrum disorder because every autistic person is different, with unique strengths and challenges.
Varney says many autistic people experienced education as a system that focused on these challenges, which can include social difficulties and anxiety.
He is pleased this is changing, with exact reforms embracing autistic students’ strengths.
But the unemployment rate of autistic people remains disturbingly high. ABS data from 2018 shows 34.1 per cent of autistic people are unemployed – three times higher than that of people with any type of disability and almost eight times that of those without a disability.
“A lot of the time people hear that someone’s autistic and they assume incompetence,” says Varney, who was this week appointed the chair of the Victorian Disability Advisory Council.
“But we have unique strengths, specifically hyper focus, great creativity, and we can think outside the box, which is a great asset in workplaces.”
In Israel, the defence force has a specialist intelligence unit made up exclusively of autistic soldiers, whose skills are deployed in analysing, interpreting and understanding satellite images and maps.
Locally, organisations that actively recruit autistic talent include software giant SAP, Westpac, IBM, ANZ, the Australian Tax Office, Telstra, NAB and PricewaterhouseCoopers.
Chris Pedron is a junior data analyst at Australian Spatial Analytics, a social enterprise that says on its website “neurodiversity is our advantage – our team is simply faster and more precise at data processing”.
He was hired after an informal chat. (Australian Spatial Analytics also often provides interview questions 48 hours in advance.)
Pedron says the traditional recruitment process can work against autistic people because there are a lot of unwritten social cues, such as body language, which he doesn’t always pick up on.
“If I’m going in and I’m acting a bit physically standoffish, I’ve got my arms crossed or something, it’s not that I’m not wanting to be there, it’s just that new social interaction is something that causes anxiety.”
Pedron also finds eye contact uncomfortable and has had to train himself over the years to concentrate on a point on someone’s face.
Australian Spatial Analytics addresses a skills shortage by delivering a range of data services that were traditionally outsourced offshore.
Projects include digital farm maps for the grazing industry, technical documentation for large infrastructure and map creation for land administration.
Pedron has always found it easy to map things out in his head. “A lot of the work done here at ASA is geospatial so having autistic people with a very visual mindset is very much an advantage for this particular job.”
Pedron listens to music on headphones in the office, which helps him concentrate, and stops him from being distracted. He says the simpler and clearer the instructions, the easier it is for him to understand. “The less I have to read between the lines to understand what is required of me the better.”
Australian Spatial Analytics is one of three jobs-focused social enterprises launched by Queensland charity White Box Enterprises.
It has grown from three to 80 employees in 18 months and – thanks to philanthropist Naomi Milgrom, who has provided office space in Cremorne – has this year expanded to Melbourne, enabling Australian Spatial Analytics to create 50 roles for Victorians by the end of the year.
Chief executive Geoff Smith hopes they are at the front of a wave of employers recognising that hiring autistic people can make good business sense.
“Rather than focus on the deficits of the person, focus on the strengths. A quarter of National Disability Insurance Scheme plans name autism as the primary disability, so society has no choice – there’s going to be such a huge number of people who are young and looking for jobs who are autistic. There is a skills shortage as it is, so you need to look at neurodiverse talent.”
In 2017, IBM launched a campaign to hire more neurodiverse (a term that covers a range of conditions including autism, Attention Deficit Hyperactivity Disorder, or ADHD, and dyslexia) candidates.
The initiative was in part inspired by software and data quality engineering services firm Ultranauts, who boasted at an event “they ate IBM’s lunch at testing by using an all-autistic staff”.
The following year Belinda Sheehan, a senior managing consultant at IBM, was tasked with rolling out a pilot at its client innovation centre in Ballarat.
“IBM is very big on inclusivity,” says Sheehan. “And if we don’t have diversity of thought, we won’t have innovation. So those two things go hand in hand.”
Sheehan worked with Specialisterne Australia, a social enterprise that assists businesses in recruiting and supporting autistic people, to find talent using a non-traditional recruitment process that included a week-long task.
Candidates were asked to work together to find a way for a record shop to connect with customers when the bricks and mortar store was closed due to COVID.
Ten employees were eventually selected. They started in July 2019 and work in roles across IBM, including data analysis, testing, user experience design, data engineering, automation, blockchain and software development. Another eight employees were hired in July 2021.
Sheehan says clients have been delighted with their ideas. “The UX [user experience] designer, for example, comes in with such a different lens. Particularly as we go to artificial intelligence, you need those different thinkers.”
One client said if they had to describe the most valuable contribution to the project in two words it would be “ludicrous speed”. Another said: “automation genius.”
IBM has sought to make the office more inclusive by creating calming, low sensory spaces.
It has formed a business resource group for neurodiverse employees and their allies, with four squads focusing on recruitment, awareness, career advancement and policies and procedures.
And it has hired a neurodiversity coach to work with individuals and managers.
Sheehan says that challenges have included some employees getting frustrated because they did not have enough work.
“These individuals want to come to work and get the work done – they are not going off for a coffee and chatting.”
Increased productivity is a good problem to have, Sheehan says, but as a manager, she needs to come up with ways they can enhance their skills in their downtime.
There have also been difficulties around different communication styles, with staff finding some autistic employees a bit blunt.
Sheehan encourages all staff to do a neurodiversity 101 training course run by IBM.
“Something may be perceived as rude, but we have to turn that into a positive. It’s good to have someone who is direct, at least we all know what that person is thinking.”
Chris Varney is delighted to see neurodiversity programs in some industries but points out that every autistic person has different interests and abilities.
Some are non-verbal, for example, and not all have the stereotypical autism skills that make them excel at data analysis.
“We’ve seen a big recognition that autistic people are an asset to banks and IT firms, but there’s a lot more work to be done,” Varney says.
“We need to see jobs for a diverse range of autistic people.”
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By Sumanth Palepu
A decade ago, if anyone had talked about self-driven cars, there would be disbelief. From year 2023, Hyundai Motors will be doing this. The automobile giant has collaborated with Motional, the global leader in driverless technology, to deploy the Level 4 autonomous vehicles across major U.S. cities starting in 2023.
There’s a team of data scientists behind this innovation that has worked with other teams to make this a reality. And a clear example of how data science is a stepping-stone for the future. The best part? Someone with a non-technical degree can also become a data scientist. The criteria being a knowledge of mathematics, especially statistics. Both the Indian and the global markets are witnessing a huge spike in the number of students and young professionals from the tech and non-tech fields who have chosen to deep dive into data science.
According to a report by the US Bureau of Labour Statistics, the rise of data science will create roughly 11.5 million job openings by 2026. Data science has also topped LinkedIn’s Emerging Jobs Report for three years running.
This is owing to the emergence of new technologies like AI, big data analytics, blockchain, IoT and more, making data science a vital part of multiple business functions. Moreover, with the emergence of Metaverse, it is expected that data science will be put under spotlight creating a pool of opportunities for skilled professionals. Even world’s tech giants like – Google, Amazon, Apple, Microsoft, and Facebook — are the biggest employers of data scientists and engineers today.
Demystifying a Data Scientist
A data scientist is an analyst who combines social science with technical expertise to not just manage data but to also predict trends. This expert prepares data for analysis through various steps like cleansing, aggregating, and manipulating the data. Though algorithms are fed in the machines, a data scientist must understand how those algorithms function, select the right one and even tweak them if required.
Anyone with an undergraduate or post-graduate degree in science or commerce or a basic knowledge of maths and statistics, can apply to be a data scientist.
Data Science Course: Quality Matters
Though there are a plethora of courses available, it’s important to choose a quality course. GUS Edology has collaborated with IBM to provide a customised IBM ICE Data Science Program, that teaches a learner how to use methods, processes, algorithms, and systems to extract useful business information from structured and unstructured data and apply this knowledge for making strategic decisions. This intermediate certification course is aimed at young professionals with two years of work experience.
The USP of this course is that it’s taught by instructors from IBM or authorised by IBM, and there’s a high probability of employability and an opportunity to do real life industry-based projects. The skills taught include Data Analysis, Excel for Business Analytics, Data Visualisation. This course aids the learner in acquiring a good knowledge in using excel for all business requirements, have an in-depth understanding of data Science, and apply it to solve business problems using analytical tools, effectively.
Skills, Career Prospects and Future
Besides being adept at debugging, storytelling, competence in SQL and Python, understanding of statistics, organizations deliver equal emphasis to soft skills in their prospective employees. These include critical thinking and reasoning, creativity, adaptability, good communication and decision-making skills, with the ability to multitask and work in teams.
The career prospects in this field include Data Analyst, Business Analyst, Financial Analyst, Business Intelligence Analyst.
Impact of Metaverse on Data Science
With metaverse on the horizon, businesses will have to deal with a humungous data explosion that will need streamlining and analysis. Consequently, this will create a greater push for data scientists and their actionable insights will be even more critical for businesses and organizations.
Data science is one of the critical steppingstones to the future and the figures speak for themselves. It’s estimated that over 43 percent retailers and fashion brands will invest in customer-based data science to map trends, predict consumer behavior over the next five years. This is just one field. Today data scientists and analysts are taking over the world from aviation, media, advertising, branding, oil and gas, petroleum, corporate sector to even political parties. The future is bright and growing exponentially. The only question is, are you upskilling to be a part of it?
The author is business head, GUS Edology. Views expressed are personal.
According to The Insight Partners “Retail Sourcing and Procurement Market” report 2028, discusses various factors driving or restraining the market, which will help the future market to grow with promising CAGR. The Retail Sourcing and Procurement Market Research Reports offers an extensive collection of reports on different markets covering crucial details. The report studies the competitive environment of the Retail Sourcing and Procurement Market is based on company profiles and their efforts on increasing product value and production.
The sourcing and procurement processes are designed to estimate and engage suppliers for acquiring services and goods. It involves processes such as insourcing, outsourcing, global sourcing, and strategic sourcing, among others. The retail industry is increasing and speedily shifting towards automated, industrialized, and cloud-based solutions for consumer retention and enhance the consumer experience. Also, the retail industry is aiming at the adoption of mobile and cloud technologies in sourcing and procurement activities so as to grow the sales and business in order to establish themselves in the global market.
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis – https://www.theinsightpartners.com/sample/TIPRE00011378
The final report will add the analysis of the Impact of Covid-19 in this report Retail Sourcing and Procurement Market.
Adapting to the exact novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Retail Sourcing and Procurement Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Retail Sourcing and Procurement Market is analyzed and depicted in the report.
The report scrutinizes different business approaches and frameworks that pave the way for success in businesses. The report used expert techniques for analyzing the Retail Sourcing and Procurement Market; it also offers an examination of the global market. To make the report more potent and easy to understand, it consists of infographics and diagrams. Furthermore, it has different policies and development plans which are presented in summary. It analyzes the technical barriers, other issues, and cost-effectiveness affecting the market.
Have a 15-minute-long discussion with the lead analyst and author of the report in a time slot decided by you. You will be briefed about the contents of the report and queries regarding the scope of the document will be addressed as well – https://www.theinsightpartners.com/speak-to-analyst/TIPRE00011378
Global Retail Sourcing and Procurement Market Research Report 2028 carries in-depth case studies on the various countries which are involved in the Retail Sourcing and Procurement Market. The report is segmented according to usage wherever applicable and the report offers all this information for all major countries and associations. It offers an analysis of the technical barriers, other issues, and cost-effectiveness affecting the market. Important contents analyzed and discussed in the report include market size, operation situation, and current & future development trends of the market, market segments, business development, and consumption tendencies. Moreover, the report includes the list of major companies/competitors and their competition data that helps the user to determine their current position in the market and take corrective measures to maintain or increase their share holds.
What questions does the Retail Sourcing and Procurement Market report answer about the regional reach of the industry
The report claims to split the regional scope of the Retail Sourcing and Procurement Market into North America, Europe, Asia-Pacific, South America & Middle East and Africa. Which among these regions has been touted to amass the largest market share over the anticipated duration
-How do the sales figures look at present How does the sales scenario look for the future
-Considering the present scenario, how much revenue will each region attain by the end of the forecast period
-How much is the market share that each of these regions has accumulated presently
-How much is the growth rate that each topography will depict over the predicted timeline
The scope of the Report:
The report segments the global Retail Sourcing and Procurement Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Retail Sourcing and Procurement Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
Immediate delivery of our off-the-shelf reports and prebooking of upcoming studies, through flexible and convenient payment methods – https://www.theinsightpartners.com/buy/TIPRE00011378
Essential points covered in Retail Sourcing and Procurement report are :-
-What will the market size and the growth rate be in 2028?
-What are the key growth stimulants of Retail Sourcing and Procurement market?
-What is the key market trends impacting Retail Sourcing and Procurement market valuation?
-What are the challenges to market proliferation?
-Who are the key vendors in the Retail Sourcing and Procurement?
-Which are the leading companies contributing to Retail Sourcing and Procurement valuation?
-What was the market share held by each region in 2028?
-What is the estimated growth rate and valuation of Retail Sourcing and Procurement in 2028?
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
If you have any queries about this report or if you would like further information, please
Contact Person: Sameer Joshi
E-mail: [email protected]
Classical computers have served us well and they will continue to do so… but breakthroughs in quantum physics are opening new doors. That’s why I’m sharing my favorite quantum computing stocks today.
It’s still in the early stages and could take a while to pay off. But the list of companies below gives you some great investing opportunities. You’ll find big companies shaking up the technology world. They’re not resting on their laurels.
I’ll highlight some research from each company and what excites me most. But first, it’d be good to get a better understanding of this up-and-coming technology. The potential is huge…
Moore’s Law states that the number of transistors in an integrated circuit doubles about every two years. This exponential trend has led to massive advancements in our world. In fact, it’s impacted every industry and all our lives.
To help put Moore’s Law in perspective, a new iPhone is millions of times faster than the Apollo spacecraft when it comes to computing. Computers have become exponentially faster. This trend might be coming to an end, though…
Gordon Moore and other forecasters expect that Moore’s law will end around 2025. It’s the result of an intricate set of physics problems. And quantum computing might be the next big step forward.
Many technology companies see the potential and are investing lots of money. If their research pays off, the top quantum computing stocks could hand shareholders huge returns.
These new computers can store more information thanks to what’s called “superposition.” Unlike traditional computers that use bits with only ones and zeros, quantum computers take it to the next level. They have the advantage of using ones, zeros and superpositions of ones and zeros. This opens the door for solving tasks that we thought impossible for classical computers.
This list of quantum computing companies includes some of the largest companies in the world. They have proven business models and the resources to push quantum computing forward.
As a result, this list provides some cashflow safety for investors, while also providing exposure to new technologies. So, let’s take a look at some of their top quantum research and projects…
IBM was one of the first big movers in quantum research. And already, it’s deployed just under 30 quantum computers. That’s the largest fleet of commercial devices, and IBM has a road map to scale systems to 1,000 qubits and beyond.
The IBM Quantum Network is currently working with more than 100 partners. These partners are in many different industries and are developing real-world commercial applications. IBM also offers free access to quantum computing.
IBM is scaling these technologies and making them more accessible. This is vital for further adoption and innovation. The strategy is working, and IBM will continue to be one of the top quantum computing stocks over the coming decades.
Alphabet is one of the top quantum computing stocks to buy. Back in 2019, the company claimed quantum supremacy for the first time when its advanced computer surpassed the performance of conventional devices.
Alphabet’s Sycamore quantum processor performed a task in 200 seconds that would take the world’s best supercomputer 10,000 years. That’s a huge milestone, and the company is continuing to advance with quantum physics.
Google AI Quantum is making big strides as well. It’s developing new quantum processors and algorithms to help solve a wide range of problems. It’s also open sourcing some of its framework to spur innovation.
Intel is a semiconductor giant that’s developing many cutting-edge technologies. And it’s been making quantum processors in Oregon. Furthermore, the company hopes to reach production-level quantum computing within 10 years.
Intel is on its third generation of quantum processors with 49 qubits. The company has a unique approach, advancing a technology known as “spin qubits” in silicon. Intel believes it has a scaling advantage over superconducting qubits.
This easily makes Intel one of the top quantum computing stocks. Buying into this company gives investors exposure to many new cutting-edge technologies.
Like IBM, Microsoft takes a comprehensive approach to quantum computing. It’s working on all the technologies required to scale commercial application.
Microsoft is advancing all layers of its computing stack. This includes the controls, software and development tools. Microsoft also created the Azure Quantum open cloud ecosystem. This helps speed up innovation.
In addition, the tech giant is making great advancements with Topological qubits. These provide performance gains over conventional qubits. They increase stability and reduce the overall number of qubits needed. It’s promising technology that should reward shareholders down the road.
Amazon Quantum Solutions Lab is helping businesses identify opportunities. Amazon’s experts are working with clients to better understand quantum computing. This helps them build new algorithms and solutions.
Amazon now offers quantum computing on Amazon Web Services through Amazon Bracket. This service provides access to D-Wave hardware. D-Wave is a leading quantum computing company based in Canada. It’s not publicly traded, though
Overall, Amazon is continuing to disrupt many industries. And advancing quantum computing should help drive its innovation and expansion even further.
This quantum stock is the smallest on the list. But it gives direct exposure to quantum computing. This makes it a higher-risk opportunity. Although, with the higher risk, comes higher reward potential.
Quantum Computing offers cloud-based, ready-to-run software. It’s focused on creating services that don’t require quantum expertise or training to use. This approach is opening the doors for more businesses to leverage the new technologies.
This company is also focusing on real-world problems such as logistics optimization, cybersecurity and drug discovery. To accomplish this, it’s partnering with hardware companies such as D-Wave.
The quantum computing companies above are mostly indirect plays. Their other established businesses provide the capital required to innovate. This is vital, as quantum computing is still an up-and-coming industry.
It might take a decade or more to really play out. And investing early in these technologies can lead to large returns for patient investors. Quantum breakthroughs are compounding and creating new opportunities.
Whether you buy into these top quantum computing stocks or not, we’ll all benefit from the innovation. If you want to stay on the cutting edge of tech investing, consider exploring more of our free investment research…
The latest research report on the Enterprise Search Market from Coherent Market Insights aims to provide a complete and accurate analysis of the market, taking into account market prediction, competitive intelligence, technical risks, developments, and other relevant data. Its meticulously designed market intelligence allows market participants to understand the most essential market trends that affect their organisation. Significant prospects in the global Enterprise Search market, as well as important issues driving and hindering growth, will be discussed for readers. It provides information on key production, revenue, and consumption trends that businesses can use to boost sales and growth in the global Market.
global enterprise search market is estimated to be valued at US$ 4,583.3 million in 2021 and is expected to exhibit a CAGR of 11.5% over the forecast period (2021-2028)
𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗮 𝘀𝗮𝗺𝗽𝗹𝗲 𝘁𝗼 𝗼𝗯𝘁𝗮𝗶𝗻 𝗮𝘂𝘁𝗵𝗲𝗻𝘁𝗶𝗰 𝗮𝗻𝗮𝗹𝘆𝘀𝗶𝘀 𝗮𝗻𝗱 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗺𝗮𝗿𝗸𝗲𝘁 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗮𝘁-
The analysts of the Enterprise Search Market Report have done a fantastic job of exploring important advancements, pricing and business techniques, and future plans of prominent businesses using a detailed analysis of the competitive environment. Analysts revealed production, serving area, gross margin, and other vital elements in addition to the player’s Enterprise Search market performance in terms of revenue and sales. In addition, the Enterprise Search Report examines rivals’ market positioning, market growth, and product portfolios in depth to assist firms in gaining a competitive advantage. The study evaluates each company’s strengths and weaknesses using a SWOT analysis. It also assesses the parent market’s tendencies, as well as macroeconomic statistics, prevalent forces, and market appeal according to various segments. The research also forecasts the impact of several industry factors on key Enterprise Search market segments and regions.
The degree of competition among significant global corporations has been illuminated through an examination of various key global players. The expert team of research analysts throws light on many aspects of the Enterprise Search market, including global market competition, share, current industry developments, innovative product launches, partnerships, mergers, and acquisitions by key firms. Research approaches were used to analyse the leading players in order to gain insight into global competition.
𝗧𝗼𝗽 𝗖𝗼𝗺𝗽𝗮𝗻𝗶𝗲𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲: IBM Corporation, Lucid Work Incorporation, Microsoft Corporation, Dassault Systems S.A., Oracle Corporation, X1 Technologies Inc., SAP AG, Coveo Corporation, and Attivio Software Incorporation
» 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮: United States, Canada, and Mexico
» 𝗦𝗼𝘂𝘁𝗵 & 𝗖𝗲𝗻𝘁𝗿𝗮𝗹 𝗔𝗺𝗲𝗿𝗶𝗰𝗮: Argentina, Chile, Brazil and Others
» 𝗠𝗶𝗱𝗱𝗹𝗲 𝗘𝗮𝘀𝘁 & 𝗔𝗳𝗿𝗶𝗰𝗮: Saudi Arabia, UAE, Israel, Turkey, Egypt, South Africa & Rest of MEA.
» 𝗘𝘂𝗿𝗼𝗽𝗲: UK, France, Italy, Germany, Spain, BeNeLux, Russia, NORDIC Nations and Rest of Europe.
» 𝗔𝘀𝗶𝗮-𝗣𝗮𝗰𝗶𝗳𝗶𝗰: India, China, Japan, South Korea, Indonesia, Thailand, Singapore, Australia and Rest of APAC.
𝗚𝗲𝘁 𝗣𝗗𝗙 𝗕𝗿𝗼𝗰𝗵𝘂𝗿𝗲: https://www.coherentmarketinsights.com/insight/request-pdf/4756
The Enterprise Search Market is primarily driven by a few important aspects, including increasing product appeal among consumers, effective promotional techniques in previously untapped markets, and significant investments in product development. Furthermore, businesses are attempting to keep up with rising demand and deliver the appropriate volume of products to the market.
There are a few trends in the Enterprise Search market that may assist organisations in developing more effective strategies. The research covers the most exact information about current events. This information is useful for businesses planning to produce significantly improved things, as well as for customers gaining an idea of what will be available in the future.
Reasons to Buy:
• Save time and effort while conducting entry-level research by determining the global Enterprise Search Market’s growth, size, key players, and segments.
• Highlights major business priorities to assist businesses in reforming their business strategy and establishing themselves throughout a broad geographic area.
• The major findings and suggestions in this report highlight important progressive industry trends in the Enterprise Search Market, helping players to devise effective long-term strategies for maximising market income.
• Develop/modify business expansion strategies that take advantage of significant growth opportunities in developed and emerging regions.
• Examine worldwide market trends and outlook in depth, as well as market drivers and restraints.
• Boost decision-making by learning about the techniques that support commercial interest in terms of products, segmentation, and industry verticals.
𝗚𝗲𝘁 𝟮𝟬𝟬𝟬 𝗨𝗦𝗗 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 𝗼𝗻 𝗕𝘂𝘆𝗶𝗻𝗴 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.coherentmarketinsights.com/promo/buynow/4756
➣ What is the size of the Enterprise Search market, and what is the predicted rate of growth?
➣ What are the major variables that are propelling the Enterprise Search Market forward?
➣ What are the leading companies in the Enterprise Search industry?
➣ What are the numerous types of the Enterprise Search Market?
➣ Which segment or region will grow the fastest?
➣ What role do critical players play in the value chain?
➣ Over the forecast period, which applications and product segments are expected to be the most profitable?
➣ What factors are expected to hamper the global Enterprise Search market’s expansion?
➣ What will be the Enterprise Search market’s CAGR and size during the forecast period?
Table Of Content:
1. Research Objectives and Assumptions
2. Market Purview
3. Market Dynamics, Regulations, and Trends Analysis
About Coherent Market Insights:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Coherent Market Insights
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Seattle, WA 98154
Phone: US +12067016702 / UK +4402081334027
Email: [email protected]
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In late July, the Department of Labor’s Employee Benefits Security Administration announced a proposed amendment to the Class Prohibited Transaction Exemption 84-14.
The PTE is commonly known as the “qualified professional asset manager exemption,” and its basic purpose is to permit various parties who are related to retirement plans covered by the Employee Retirement Income Security Act’s fiduciary provisions to engage in otherwise-barred transactions involving retirement plans and individual retirement account assets. To satisfy the QPAM exemption, the assets in question must be managed by QPAMs that are “independent of the parties in interest” to the plan and that meet specified financial standards, among other conditions.
The proposed amendment includes a number of important changes. As summarized in an EBSA press release, the amendment would better protect plans and their participants and beneficiaries by, among other changes, addressing what EBSA calls “perceived ambiguity” as to whether foreign criminal convictions are included in the scope of the exemption’s ineligibility provision. The amendment further expands the ineligibility provision to include additional types of serious misconduct. Other provisions focus on mitigating potential costs and disruptions to plans and IRAs when a QPAM becomes ineligible due to a conviction or other serious misconduct.
Other changes the amendments would make include an update of the asset management and equity thresholds in the actual definition of “qualified professional asset manager” and the addition of a standard recordkeeping requirement that the exemption currently lacks. Finally, the amendment seeks to clarify the requisite independence and control that a QPAM must have with respect to investment decisions and transactions.
Speaking with PLANADVISER about the implications of the amendment, Carol McClarnon, a partner on the tax group of Eversheds Sutherland, calls it “unexpected and worrying.”
“In its press release announcing the proposal, the DOL named six objectives of the proposed changes,” McClarnon says. “On their face, these objectives would appear to be sensible clarifications. However, the actual conditions being proposed to attain these objectives reveal that the proposal would add significant costs and liability exposure to managers, perhaps even limiting the QPAM exemption as a viable solution.”
As McClarnon observes, before the proposal’s publication last week, the common perception among regulatory experts in the retirement plan industry was that the DOL was unlikely to direct EBSA to take an action like this, as the DOL’s key sub-agency is still operating without a Senate-confirmed head.
“The perception has been that EBSA has put a lot on hold,” McClarnon says. “We did know that the QPAM issue was on EBSA’s radar, but I think it is fair to say that few people expected to see a proposal as ambitious as this to come out right now. Frankly, I was pretty amazed to see this proposal come out.”
McClarnon says the QPAM exemption is of fundamental importance to the operation of the modern retirement plan system. This is because so many plans invest in pooled funds and group-style investments with other plans and third parties, and because of the way ERISA defines and treats “parties in interest” to retirement plans or other institutional investors subject to ERISA’s fiduciary provisions. Any party in interest to a given retirement plan may be prohibited from entering into certain transactions with that plan if the transaction will result in additional compensation going to the party in interest, McClarnon notes.
Parties in interest may include, among others, fiduciaries or employees of the plan, any person who provides services to the plan, an employer whose employees are covered by the plan, an employee organization whose members are covered by the plan, a person who owns 50% or more of such an employer or employee organization, or relatives of such persons.
McClarnon explains that certain plan transactions with parties in interest are prohibited under ERISA and are required, without regard to their materiality, to be disclosed in the plan’s annual report to the DOL.
“In practice, the QPAM exemption is used very commonly and for a variety of different purposes,” McClarnon says. “Just imagine if you had, say, 1,000 ERISA-covered retirement plans invested in a given fund. Each of those plans will have a ton of parties in interest. In the most basic terms, what the QPAM exemption does is state that, if you as the asset manager meet the regulatory qualifications, most transactions with these parties of interest in the plan are OK. The new proposal addresses the qualifications in a meaningful way.”
Based on her initial memorizing and discussions with colleagues, McClarnon says the proposal appears to be “so burdensome that it could almost be said to essentially change the availability of the QPAM exemption.” She points out that, in the nearly four decades since the QPAM exemption framework was first established, the financial services world has become far more interconnected.
“In today’s industry, you just have a lot more complexity, with larger conglomerates and highly sophisticated international entities that do business with U.S. retirement plans,” McClarnon says. “The proposed framework, if it is not adjusted after the comment period, will make it very difficult for these types of entities to reliably and efficiently use the QPAM exemption, in my opinion.”
As an example, McClarnon points to the provision in the proposal that declares that the entrance of a QPAM-affiliated person into a non-prosecution agreement will trigger the ineligibility restrictions.
“To me, that’s concerning, because you do not generally speaking admit criminal wrongdoing when entering into such an agreement,” McClarnon says. “There is also a new concept and condition that they have called ‘integrity.’ The proposal says that the DOL can disqualify an entity from using the QPAM exemption based on their own internal examination process and the determination that a QPAM exemption user has not acted with integrity, which they define in the proposal by using various examples and stipulations. In my opinion, there is very little due process recourse for an entity that finds itself in this situation.”
McClarnon says she is perhaps most troubled by the provision in the proposal that seeks to isolate retirement plans from harm if a service provider they work with has its QPAM exemption revoked by EBSA. One must consider the potential consequences of such a framework, she says.
“They don’t want to cause hardships on the plans in cases of disqualification, which makes sense,” McClarnon says. “However, the proposal seems to require that the investment manager sign a written agreement where they declare that, if there is a criminal finding or the ineligibility provision is triggered for some other reason, the QPAM itself has to pick up the full cost of helping the plan make a transition to a new investment. Just imagine the potential cost of this if we are taking about a mega-sized retirement plan or group of plans.”
McClarnon emphasizes that she understands the DOL and EBSA have a critical job to do in protecting retirement plans and their participants. However, she expects the investment community to respond forcefully to this proposal, and that the comment period could help EBSA constructively refine the proposal.
“The potential for unintended consequences here is so significant,” McClarnon says. “The exemption serves a critical purpose in the current retirement plan system. It is meant to allow plans to be able to invest in things that would otherwise have technical prohibited transaction restrictions on them that do not actually relate to potential operational conflicts of interest. If the proposal is not refined, you could see investment providers not wanting to take on this type of exposure.”
The one element of the proposal she would most want to see changed, McClarnon says, is the contractual requirement related to the QPAM covering the full expense of a fund transition on behalf of a plan.
“I really don’t like the forced contractual requirement,” McClarnon says. “I don’t think EBSA should be telling people these contracts have to be set. I also want to point out that, yes, a giant financial services company may be able to figure out how to make this new framework work, and they may even have the scale and resources to meet the hold-harmless provisions. But a lot of small advisers use this exemption all the time, and in fact it is baked into many standard operating agreements used by all different parties in the industry. It is very common in all kinds of collective investment trust agreements, for example, and we know these investments are becoming more popular. There are just so many traps for the unwitting and the unwary in all this.”
Wednesday, August 3, 2022
Artificial Intelligence (AI) systems are poised to drastically alter the way businesses and governments operate on a global scale, with significant changes already under way. This technology has manifested itself in multiple forms including natural language processing, machine learning, and autonomous systems, but with the proper inputs can be leveraged to make predictions, recommendations, and even decisions.
Accordingly,enterprises are increasingly embracing this dynamic technology. A 2022 global study by IBM found that 77% of companies are either currently using AI or exploring AI for future use, creating value by increasing productivity through automation, improved decision-making, and enhanced customer experience. Further, according to a 2021 PwC study the COVID-19 pandemic increased the pace of AI adoption for 52% of companies as they sought to mitigate the crises’ impact on workforce planning, supply chain resilience, and demand projection.
For these many businesses investing significant resources into AI, it is critical to understand the current and proposed legal frameworks regulating this novel technology. Specifically for businesses operating globally, the task of ensuring that their AI technology complies with applicable regulations will be complicated by the differing standards that are emerging from China, the European Union (EU), and the U.S.
China has taken the lead in moving AI regulations past the proposal stage. In March 2022, China passed a regulation governing companies’ use of algorithms in online recommendation systems, requiring that such services are moral, ethical, accountable, transparent, and “disseminate positive energy.” The regulation mandates companies notify users when an AI algorithm is playing a role in determining which information to display to them and deliver users the option to opt out of being targeted. Additionally, the regulation prohibits algorithms that use personal data to offer different prices to consumers. We expect these themes to manifest themselves in AI regulations throughout the world as they develop.
Meanwhile in the EU, the European Commission has published an overarching regulatory framework proposal titled the Artificial Intelligence Act which would have a much broader scope than China’s enacted regulation. The proposal focuses on the risks created by AI, with applications sorted into categories of minimal risk, limited risk, high risk, or unacceptable risk. Depending on an application’s designated risk level, there will be corresponding government action or obligations. So far, the proposed obligations focus on enhancing the security, transparency, and accountability of AI applications through human oversight and ongoing monitoring. Specifically, companies will be required to register stand-alone high-risk AI systems, such as remote biometric identification systems, in an EU database. If the proposed regulation is passed, the earliest date for compliance would be the second half of 2024 with potential fines for noncompliance ranging from 2-6% of a company’s annual revenue.
Additionally, the previously enacted EU General Data Protection Regulation (GDPR) already carries implications for AI technology. Article 22 prohibits decisions based on solely automated processes that produce legal consequences or similar effects for individuals unless the program gains the user’s explicit consent or meets other requirements.
In the United States there has been a fragmented approach to AI regulation thus far, with states enacting their own patchwork AI laws. Many of the enacted regulations focus on establishing various commissions to determine how state agencies can utilize AI technology and to study AI’s potential impacts on the workforce and consumers. Common pending state initiatives go a step further and would regulate AI systems’ accountability and transparency when they process and make decisions based on consumer data.
On a national level, the U.S. Congress enacted the National AI Initiative Act in January 2021, creating the National AI Initiative that provides “an overarching framework to strengthen and coordinate AI research, development, demonstration, and education activities across all U.S. Departments and Agencies . . . .” The Act created new offices and task forces aimed at implementing a national AI strategy, implicating a multitude of U.S. administrative agencies including the Federal Trade Commission (FTC), Department of Defense, Department of Agriculture, Department of Education, and the Department of Health and Human Services.
Pending national legislation includes the Algorithmic Accountability Act of 2022, which was introduced in both houses of Congress in February 2022. In response to reports that AI systems can lead to biased and discriminatory outcomes, the proposed Act would direct the FTC to create regulations that mandate “covered entities”, including businesses meeting certain criteria, to perform impact assessments when using automated decision-making processes. This would specifically include those derived from AI or machine learning.
While the FTC has not promulgated AI-specific regulations, this technology is on the agency’s radar. In April 2021 the FTC issued a memo which apprised companies that using AI that produces discriminatory outcomes equates to a violation of Section 5 of the FTC Act, which prohibits unfair or deceptive practices. And the FTC may soon take this warning a step farther—in June 2022 the agency indicated that it will submit an Advanced Notice of Preliminary Rulemaking to “ensure that algorithmic decision-making does not result in harmful discrimination” with the public comment period ending in August 2022. The FTC also recently issued a report to Congress discussing how AI may be used to combat online harms, ranging from scams, deep fakes, and opioid sales, but advised against over-reliance on these tools, citing the technology’s susceptibility to producing inaccurate, biased, and discriminatory outcomes.
Companies should carefully discern whether other non-AI specific regulations could subject them to potential liability for their use of AI technology. For example, the U.S. Equal Employment Opportunity Commission (EEOC) put forth guidance in May 2022 warning companies that their use of algorithmic decision-making tools to assess job applicants and employees could violate the Americans with Disabilities Act by, in part, intentionally or unintentionally screening out individuals with disabilities. Further analysis of the EEOC’s guidance can be found here.
Many other U.S. agencies and offices are beginning to delve into the fray of AI. In November 2021, the White House Office of Science and Technology Policy solicited engagement from stakeholders across industries in an effort to develop a “Bill of Rights for an Automated Society.” Such a Bill of Rights could cover syllabus like AI’s role in the criminal justice system, equal opportunities, consumer rights, and the healthcare system. Additionally, the National Institute of Standards and Technology (NIST), which falls under the U.S. Department of Commerce, is engaging with stakeholders to develop “a voluntary risk management framework for trustworthy AI systems.” The output of this project may be analogous to the EU’s proposed regulatory framework, but in a voluntary format.
The overall theme of enacted and pending AI regulations globally is maintaining the accountability, transparency, and fairness of AI. For companies leveraging AI technology, ensuring that their systems remain compliant with the various regulations intended to achieve these goals could be difficult and costly. Two aspects of AI’s decision-making process make oversight particularly demanding:
Opaqueness where users can control data inputs and view outputs, but are often unable to explain how and with which data points the system made a decision.
Frequent adaptation where processes evolve over time as the system learns.
Therefore, it is important for regulators to avoid overburdening businesses to ensure that stakeholders may still leverage AI technologies’ great benefits in a cost-effective manner. The U.S. has the opportunity to observe the outcomes of the current regulatory action from China and the EU to determine whether their approaches strike a favorable balance. However, the U.S. should potentially accelerate its promulgation of similar laws so that it can play a role in setting the global tone for AI regulatory standards.
Thank you to co-author Lara Coole, a summer associate in Foley & Lardner’s Jacksonville office, for her contributions to this post.
Every year, lakhs of aspiring students battle it out to ace one of the fiercest exams in India, to get into the weaver-of-dreams institute, IIT. Apart from being a trusted brand, IITs offer a plethora of opportunities for gaining immense exposure and enhancing technical skills.
Closer home, IIT-Kanpur comes in the creamy layer of all IIT institutes. With notable alumni’s like N.R. Narayana Murthy - founder of Infosys, Lalit Jalan - CEO of Reliance, Ashoke Sen - Padma Shri and Padma Bhushan awardee, Muktesh Pant - CEO of KFC, among many, many others, IIT-K continues the carry the badge of one of the most premier institutes the country.
Read on to know 7 facts about IIT-K that would free you of the age-old question 'Yeh IIT-JEE itna tough kyun hai yaaar?'
Established in 1959, Indian Institute of Technology (IIT), Kanpur is one of eminent technical institutes of India. It would be a shocker to know for many IIT aspirants that the esteemed institute commenced its operations, in a room in the canteen Building of the Harcourt Butler Technological Institute at Agricultural Gardens in Kanpur. The esteemed institute was moved to its present location in 1963.
IIT Kanpur was established under the Kanpur Indo-American Programme (KIAP) that was a conglomerate of nine leading American universities : M.I.T, University of California, Berkeley, California Institute of Technology, Princeton University, Carnegie Institute of Technology, University of Michigan, Ohio State University, Case Institute of Technology and Purdue University.
In today's age and times, colleges offering the reputed computer science education programmes are mushrooming across India. One can't help but wonder, where did it all begin ?
Back in 1963, under the leadership of economist John Kenneth Galbraith, IIT Kanpur was the first institute in India to offer Computer Science education. The very first computer courses started at IIT Kanpur in the month of August 1963 on an IBM 1620 system.
In a bid to foster innovation, research, and entrepreneurial activities of tech-based areas, IIT Kanpur has set up the SIDBI Innovation and Incubation Centre (SIIC) in collaboration with the Small Industries development Bank of India (SIDBI). The start-up provides a platform to business newbies to develop their ideas into commercially viable products. Also, just FYI, do you happen to recognise the man in the picture? That's Narayan Murthy, Founder & Chairman of Infosys casually chilling at his alma-mater IIT-K.
The institute is pegged to be the developer of India’s first nano satellite 'Jugnu'. It was designed and built by a team of students, working under the guidance of faculty members of the institute and scientists of Indian Space Research Organisation (ISRO). Jugnu was successfully launched in orbit on 12 October 2011 by ISRO's PSLV-C18.
IIT-K is touted as the first academic institution in the country to have a helicopter ferry service. The service was started by IIT-K on 1 June 2013 and is being run by Pawan Hans Helicopter Limited. In the initial phase, the ferry service only connects IIT Kanpur to the Lucknow airport, but the plans to extend it to New Delhi later, are already in motion.
At present, there are two flights daily, to-and-fro to Lucknow Airport with a travel time of 25 minutes. The ferry service provides access to the Lucknow Airport, which operates both international and domestic flights to all major cities and countries. IIT Kanpur is also said to have its own airstrip for Aeronautical Engineering students.
Along with Jugnu, IIT-K boasts of many firsts to it's name. Some of these are: In 2021, IIT-K developed a portable soil testing device called 'Bhu Parikshak' that can detect soil in health in just 90 seconds through an embedded mobile application. The device is set to assist farmers for obtaining soil health parameters with recommended dose of fertilisers.
In July 2021, IIT Kanpur created the Swasa Oxyrise bottle. It's a portable device that can be carried anywhere to meet the emergency need of oxygen. The portable oxygen canister by IIT Kanpur was created to address shortage of oxygen during the pandemic. Reportedly, 10 litre of oxygen has been compressed in each 180 gram bottle.
How many of these did you know? get the Knocksense app for more such interesting stories!
HM Revenue & Customs (HMRC) has secured an improved rating for its £300m datacentre migration programme from a government watchdog that this month published a report stating the project was unlikely to succeed, Computer Weekly has learned.
The UK government’s Infrastructure and Projects Authority (IPA), which oversees the delivery of new railways, schools housing and IT transformation projects, published its 2021/2022 report on 20 July 2022.
The 80-page document provides an update and insight into the status of large-scale programmes that are listed under the Government Major Projects Portfolio (GMPP), with each project graded using a “Red, Amber and Green” (RAG) traffic light-style system to indicate how likely they are to succeed.
For example, projects that are graded “Green” are ones that are likely to be delivered successfully on time, within budget, to a high standard and have no major issues that are likely to threaten delivery.
At the other end of the scale are “Red” projects that present with major scheduling, budgetary and quality control issues that appear to be unmanageable or unresolvable, meaning a successful project delivery is unachievable.
HMRC’s ongoing datacentre migration programme, known as Securing Our Technical Future (SOTF), is among the projects listed on the IPA’s GMPP, and, in its report, its status is listed as moving from “Amber”, which means “successful delivery of the project is in doubt”, to “Red” over the course of the past 12 months.
The datacentre migration portion of the five-year project was originally scheduled for completion in June 2022, and centres on the decommissioning or migration of servers and services hosted in three HMRC datacentres to either the public cloud or the government’s Crown Hosting colocation facility.
The project was officially given approval to proceed by HMRC CEO Jim Harra in February 2020, and in late January 2022 it emerged that IBM had secured an £11m contract to assist the department with exiting three datacentres operated on its behalf by Fujitsu.
According to the IPA report and its accompanying documentation, around 55% of the services involved in the move have either been retired or migrated so far, but the 244 services that still require attention are a source of concern for the Authority.
“Examination has uncovered that the remaining services, associated enablement and decommissioning work are more complex, expensive and time-consuming than previously thought,” the IPA’s assessment stated.
As a result, the status of the project had been changed from Amber to Red, according to the report, while the accompanying documentation states the project is in the process of being reviewed, with revised costings and a new completion date.
The project has been subject to a “number of pauses” owing to the UK’s extrication from the European Union, the documentation stated, that have affected its completion.
“While the baseline whole life costs remain at £312.06m, the programme business case is currently being updated, which will increase the whole life costs for various reasons, including increased complexities, [new] datacentre requirements and additional scope,” the documentation added.
However, while the IPA’s report states the project is classified as Red, Computer Weekly has learned that HMRC has successfully had the SOTF reclassified as Amber.
In a statement, a spokesperson for HMRC said: “Moving services to public cloud and Crown Hosting is helping us transform how we operate, enabling us to build and run more resilient services, update them easily where we need to, and scale up quickly at peak times of the year,” the statement read.
“We always plan any changes to our IT estate thoroughly and, although this is a highly complex project, we are confident in the migration plans we now have in place.”
These plans include a revised finish date for the project, which is now due to conclude in December 2023, and a rejigged business plan for it.
“In view of this progress made, the RAG rating has now improved from Red to Amber, which was confirmed by an IPA Gate 0 review conducted in early May 2022,” the spokesperson added.
Computer Weekly contacted the IPA for confirmation on this change, but the authority declined to comment.