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Posts Tagged ‘Technology’

2018 will be the year that big, incumbent companies take on big tech

Posted by hkarner - 7. Januar 2018

Date: 04-01-2018
Source: The Economist: Schumpeter

Conventional firms have at last got their technology act together

ACCORDING to Ginni Rometty, IBM’s boss, the digital revolution has two phases. In the first, Silicon Valley firms make all the running as they create new markets and eviscerate weak firms in sleepy industries. This has been the story until now. Tech firms have captured 42% of the rise in the value of America’s stockmarket since 2014 as investors forecast they will win an ever-bigger share of corporate profits. A new, terrifying phrase has entered the lexicon of business jargon: being “Amazoned”.

The second phase favours the incumbents, Ms Rometty believes, and is starting about now. They summon the will to adapt, innovate to create new, digital, products and increase efficiency. The schema is plainly self-serving. IBM is itself fighting for survival against cloud-based tech rivals and most of its clients are conventional firms. Yet she is correct that incumbents in many industries are at last getting their acts together on technology.

Enough time has elapsed for even the dopiest to see the threat. It is 11 years since Netflix began streaming video and five since Tesla unveiled the Model S. The evisceration by tech firms of some mid-sized businesses, such as department-store retail, has concentrated minds. Lagging share prices have helped. In 2017 Ford fired its boss, Mark Fields, despite near-record profits. Its board concluded he was complacent about technological change. Den Rest des Beitrags lesen »

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Nasdaq Crests 7000 as Tech Giants Roar Into 2018

Posted by hkarner - 4. Januar 2018

Date: 03-01-2018
Source: The Wall Street Journal

Tech-focused index jumped 28% in 2017, beating the Dow Jones Industrial Average’s 25% gain and S&P 500’s 19% rise

Stretching
Companies in the Nasdaq are trading at the highest multiples of their last 12months of earnings since 2004.

The Nasdaq Composite closed above 7000 for the first time Tuesday after racing to a fresh 1,000-point milestone in just over eight months—a pace not seen since the heights of the technology boom.

Many global stock indexes have hit records or multiyear highs in recent months, lifted by signs of a pickup in economic expansion around the world.

The Nasdaq has risen faster than other major U.S. indexes over the past year as investors, frustrated with low interest rates and tepid global growth, bet on the prospects of large technology companies such as Apple Inc., Google parent Alphabet Inc. and Microsoft Corp., all of which are heavily weighted in the index.

Those three companies, along with fellow heavyweights Amazon.com Inc. and Facebook Inc., collectively contributed more than two-thirds of the points that carried the Nasdaq from one 1000-point milestone to another, according to stock-market research firm Birinyi Associates.

Such bets helped the Nasdaq jump 28% in 2017, beating the Dow Jones Industrial Average’s 25% gain and S&P 500’s 19% rise. The only two times the Nasdaq has passed 1,000-point milestones faster were the 38 trading sessions the index took to advance to 4000 in 1999 and the 49 sessions it needed to top 5000 in 2000—shortly before the dot-com bust. Den Rest des Beitrags lesen »

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The Growing Peril of Index Funds: Too Much Tech

Posted by hkarner - 31. Dezember 2017

Date: 29-12-2017
Source: The Wall Street Journal

Surging sector has driven gains in major U.S., Asia indexes; Apple, Amazon, Facebook lead weighting of tech shares in S&P 500

The tech-heavy Nasdaq Composite Index is up 28.9% so far this year, and the S&P 500 index has climbed 19.8%.

Being passive can leave you with too much of a good thing.

Investors who loaded up on U.S. and Asian stock-index funds might be surprised to learn just what they own now: technology stocks—a lot of them.

Led by Apple Inc., Facebook Inc. and their peers, the weighing of technology stocks in the S&P 500 index has climbed to 23.8% as of Dec. 26, from 20.8% at the end of last year, according to S&P Dow Jones Indices. Den Rest des Beitrags lesen »

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Racing the Machine

Posted by hkarner - 26. Dezember 2017

Robert Skidelsky, Professor Emeritus of Political Economy at Warwick University and a fellow of the British Academy in history and economics, is a member of the British House of Lords. The author of a three-volume biography of John Maynard Keynes, he began his political career in the Labour party, became the Conservative Party’s spokesman for Treasury affairs in the House of Lords, and was eventually forced out of the Conservative Party for his opposition to NATO’s intervention in Kosovo in 1999.

Economists have always believed that previous waves of job destruction led to an equilibrium between supply and demand in the labor market at a higher level of both employment and earnings. But if robots can actually replace, not just displace, humans, it is hard to see an equilibrium point until the human race itself becomes redundant.

LONDON – Dispelling anxiety about robots has become a major preoccupation of business apologetics. The commonsense – and far from foolish – view is that the more jobs are automated, the fewer there will be for humans to perform. The headline example is the driverless car. If cars can drive themselves, what will happen to chauffeurs, taxi drivers, and so on?

Economic theory tells us that our worries are groundless. Attaching machines to workers increases their output for each hour they work. They then have an enviable choice: work less for the same wage as before, or work the same number of hours for more pay. And as the cost of existing goods falls, consumers will have more money to spend on more of the same goods or different ones. Either way, there is no reason to expect a net loss of human jobs – or anything but continual improvements in living standards. Den Rest des Beitrags lesen »

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The new engine of change: CEOs

Posted by hkarner - 17. Dezember 2017

McKinsey Quarterly, Dec. 2017

Perhaps the most unique aspect of this technology trend is that digital transformation is being driven from the top, personally mandated by the CEO. This is something new.

In the past 70 years of computing, the world advanced from the vacuum tube to the transistor to the semiconductor, from mainframe computing to minicomputing to personal computing to the Internet. Software evolved from bespoke custom programming to on-premises, packaged enterprise application software and then to software as a service (SaaS)—cloud-resident solutions. Among the fruits: increased productivity and profitability, a lower cost of operation, and economic growth.

I witnessed many of these tech-adoption cycles over the past 30 years. With the promise of performance improvements and productivity increases, such innovations were introduced to industry through the IT organization. Over months or years, and after multiple trials and evaluations, each gained the attention of the chief information officer, who was responsible for technology adoption. The CEO was periodically briefed on the cost and result. Den Rest des Beitrags lesen »

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9 Technology Mega Trends That Will Change The World In 2018

Posted by hkarner - 14. Dezember 2017

, Opinions expressed by Forbes Contributors are their own. Dec. 4, 2017

Some tech trends fizzle out and die a quiet death, while others are so significant that they transform our world and how we live in it. Here are the top nine tech mega-trends that I believe will define 2018 and beyond.

Trend 1: The increasing datafication of our lives

From chatting to friends in a messaging app or buying a coffee, to tapping in and out with an Oyster card or streaming music, today almost everything we do leaves a trail of data breadcrumbs. And this increasing datafication of our world has led to an unprecedented explosion in data.

Just in the average minute, Facebook receives 900,000 logins, more than 450,000 Tweets are posted, and 156 million emails and 15 million texts are sent.With numbers like that, it’s no wonder we’re essentially doubling the amount of data created in the world roughly every two years.

Trend 2: The Internet of Things (IoT) and how everyday devices are becoming more ‘smart’

The IoT – which encompasses smart, connected products like smart phones and smart watches –is a major contributing factor in this exponential increase in data. That’s because all these smart devices are constantly gathering data, connecting to other devices and sharing that data – all without human intervention (your Fitbit synching data to your phone, for instance). Den Rest des Beitrags lesen »

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The First Women in Tech Didn’t Leave—Men Pushed Them Out

Posted by hkarner - 12. Dezember 2017

Date: 10-12-2017
Source: The Wall Street Journal

In computing’s early years, when it was considered women’s work, all six programmers of America’s first digital computer, ENIAC, were women

Sexism in the tech industry is as old as the tech industry itself.

Memos from the United Kingdom’s government archives reveal that, in 1959, an unnamed British female computer programmer was given an assignment to train two men. The memos said the woman had “a good brain and a special flair” for working with computers. Nevertheless, a year later the men became her managers. Since she was a different class of government worker, she had no chance of ever rising to their pay grade.

Today, in the U.S., about a quarter of computing and mathematics jobs are held by women, and that proportion has been declining over the past 20 years. The situation is generally worse at the biggest tech companies: Only one in five engineers at Google or Facebook is a woman, according to the companies’ recent diversity reports. A string of recent events—from women coming forward about sexism, harassment and discrimination in the industry, to the controversy over a memo written by a Google employee arguing that women overall are biologically less suited to programming—suggest the steps currently being taken by tech firms to address these issues are inadequate. Den Rest des Beitrags lesen »

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Automatic Job Storm Coming

Posted by hkarner - 10. Dezember 2017

The monthly jobs report isn’t like that. Yes, any single month doesn’t tell us much. Yes, the Labor Department’s methodology has some flaws, both major and minor. But imperfect as it is, the jobs report is our best look at the economy’s pulse. Jobs matter in a visceral way to almost all of us, as you know well if you’ve ever lost one. Almost any survey that asked questions around employment would reveal the angst that many Americans feel about the possibility of losing their jobs.

Right now, automation tops the list of things that might threaten our jobs. Artificial intelligence and robotics technology are rapidly learning to do what human workers do, but better, faster, and cheaper.

I’ve use the following chart before, but it’s a compelling illustration of how technology is reducing employment. It shows the rising rig count in the oil patch since mid-2016 – and yet the number of workers on those rigs is actually still falling. This is the impact of a new robot called an iron roughneck: Tasks that used to require 20 people now need only five. And the iron roughneck is not even that widely deployed in the oil and gas industry – the trend will hit hard in the coming decade. Roughneck jobs are relatively high-paying; it takes a great deal of training and skill to be able to do them. Den Rest des Beitrags lesen »

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Rage Against the Machine?

Posted by hkarner - 9. Dezember 2017

Laura Tyson, a former chair of the US President’s Council of Economic Advisers, is a professor at the Haas School of Business at the University of California, Berkeley, a senior adviser at the Rock Creek Group, and a member of the World Economic Forum Global Agenda Council on Gender Parity.

Susan Lund is a partner of McKinsey & Company and a leader at the McKinsey Global Institute.

Almost every aspect of our economies will be transformed by automation in the coming years. But history and economic theory suggest that fears about technological unemployment, a term coined by John Maynard Keynes nearly a century ago, are misplaced.

BERKELEY – Intelligent machines are transforming the way we produce, work, learn, and live throughout the world. Almost every aspect of our economies will be radically altered. Den Rest des Beitrags lesen »

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Forget Robots: Bad Public Policies Could Be Bigger Job Killers

Posted by hkarner - 30. November 2017

Date: 29-11-2017
Source: The Wall Street Journal

Study stresses need for businesses, governments to prudently manage disruption created by automation

Automation could be a huge boon to the world’s workers—but only if governments and businesses prudently manage the disruption it creates.

As many as 375 million workers around the world will need to find new occupations or lose their livelihood to automation by 2030, the McKinsey Global Institute estimates in a new report. It isn’t impossible for up to 14% of the global workforce to retrain and refocus, but it requires planning and the investment of will and resources, says Susan Lund, a principal at the Institute.

“‘Will there be enough jobs?’ is not the right question,” she says. “The question is, what are we going to do to manage the transition for people who do lose their jobs?” The choices that policy makers and business leaders make about how to support displaced workers, invest in education and training, and fund job-creating projects in areas such as infrastructure and energy will all affect the labor market, she says. Den Rest des Beitrags lesen »

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