Monday, August 14, 2023

On Our "Virtual Route 66" This Week With Some Mid-Month #RandomThoughts

 


We present a snapshot of the month that was in our World:

Technology

Is AI Altering What It Means to Be Human?

Maybe we're not all that special after all
Leadership

Does It Pay to Pay for ESG Leadership?

Executive compensation now being tied to sustainability goals
We gathered another virtual panel of CEOs this week to share their early learnings from using generative A.I.—a topic that continues to dominate management and board meetings. PayPal CEO Dan Schulman kicked off the discussion with these observations:

“I do think that we are likely underestimating the impact that it will have. It will be pretty massive. For instance, we’re doing a lot of experimentation in code development right now, and we’re seeing a 30% improvement in productivity. Across all industry, front office, back office, you’re going to see 30% to 40% productivity increases.”

Schulman said the even more exciting possibilities come from using the technology to create new value for customers. And many small and mid-sized companies are finding that existing large language models allow them to drive change quickly. Here’s DataRobot CEO Debanjan Saha:

“A.I. has been around for a long time, but it required some statistician or mathematician to explain to people what it does. Not with generative A.I. It’s text in, text out. Everybody understands what it is, and a lot of people are trying to do it. Many use cases that are too small for people to build a special purpose applications are becoming really, really easy to do right now.”

Mark Newman, CEO of Chemours, added his industry’s perspective:

“As a chemical company…I believe our biggest opportunity is in the development of new molecules. We are in the business of material science, developing new chemistry, either for the energy transformation or for more sustainable thermal management. We’re in the early innings of using generative A.I. to do that.”

And Jeff Tarr, CEO of Skillsoft, the learning platform, said:

“Amost every customer conversation now starts with the need to prepare the workforce for this technology. Because every knowledge worker, if they’re not using it already, will be using this in some form or fashion in their jobs. And if we didn’t have a skills gap before, we sure have one now.”

But many large companies are still moving cautiously. Jason Girzadas, CEO of Deloitte U.S., cited the recent CEO poll that Fortune and Deloitte conducted highlighting some of the obstacles:

Large companies need “to develop more enterprise-level use cases. And then concerns around security and privacy and risk are absolutely paramount, in addition to the impact on the work force.”

(Deloitte sponsors this newsletter.)

Noting the difference in adoption rates between large and small companies, Principal Financial Group CEO Dan Houston said:

The speed of adoption of A.I. is directly proportional to the size of your legal department. Larger companies are getting the brakes put on by the legal and regulatory department.”

Slalom CEO Brad Jackson agreed:

“I think, first, the barrier is going to be cost, and then privacy, and then ethics and then legal. But I think the big thing that’s going to happen here is this fear of going first, because of the brand risk.”

Either way, all agreed, the revolution is coming.  

1

The news: Apple is gearing up to release the iPhone 15 on or around September 22, following a launch event expected on September 12 or 13, as reported by Bloomberg. The upcoming phone is rumored to boast various enhancements, including thinner bezels, a faster processor, an updated camera, and USB-C charging.

Details: Carrier partners have allegedly blocked employee time off on September 13, aligning with the schedule. Besides the iPhone 15 lineup, Apple could unveil updates for Apple Watch Series 9, Apple Watch Ultra 2, and iOS 17. The September launch tradition aligns with Apple's strategy to maximize revenue before the fiscal quarter's end. 

What the numbers say: The timing will ensure the new iPhone is available throughout Apple's crucial holiday sales quarter, starting from October 1. However, recent weak iPhone sales have sparked concerns among investors. In its latest fiscal third quarter, iPhone sales dipped by 2% from a year earlier to $39.67B, and the company expects similar sales in the fourth quarter.

   
2

Tesla CEO Elon Musk said he may need surgery before participating in the proposed cage match against Meta CEO Mark Zuckerberg. The two billionaires have exchanged online jabs about a mixed martial arts match, which escalated after Zuckerberg launched Threads to directly rival Musk's X, previously Twitter.

More:

  • Musk announced that the fight will be live-streamed on X, with all proceeds going to veterans' charities.
  • However, Musk said he's scheduled to undergo an MRI of his neck and upper back, which may require surgery, potentially postponing the match.
  • In response to Musk's announcement, Zuckerberg questioned the use of X as a reliable platform for raising funds for charity.
  • Zuckerberg said he's ready for the fight and suggested a date of Aug. 26, but Musk has yet to confirm.

Zoom out:

  • Musk, 52, and Zuckerberg, 39, have been bantering about the fight since June, with Musk preparing by lifting weights throughout the day.
  • Musk is the richest man in the world, with a net worth of $227.5B, while Zuckerberg ranks seventh with a net worth of $110.1B.

   
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3

Tesla's CFO, Zachary Kirkhorn, unexpectedly stepped down after 13 years with the company. Vaibhav Taneja, Tesla's chief accounting officer, will take on the CFO role in addition to his current responsibilities.

More:

  • Kirkhorn, who was considered a contender to succeed Elon Musk as CEO, joined Tesla in 2010 and became CFO in March 2019.
  • He played a significant role in achieving consistent profitability for the company.
  • Kirkhorn will stay until the end of the year to ensure a smooth transition.

Zoom out:

  • This marks the second CFO replacement at Tesla in just over four years.
  • Taneja has been with Tesla since 2017, joining through the acquisition of SolarCity, and previously worked at PwC for about 17 years.

5

Zoom is now requiring its employees to return to the office at least two days per week. The company's "structured hybrid approach" only applies to employees living within 50 miles of an office. 

More:

  • In a statement, Zoom said employees who live near an office “need to be onsite two days a week” because it’s “most effective” for the video-conferencing service.
  • Zoom currently employs around 8,400 people, with more than half based in the U.S.
  • Google, Amazon, and Salesforce have announced similar return-to-office policies in recent months.

Zoom out:

  • A July survey by Stanford University and others revealed that 12% of U.S.-based employees were fully remote, while 29% had hybrid work arrangements.
  • Prior to the pandemic, remote work days in the U.S. were only around 5%.
  • While many companies are opting for partial office returns, research shows that in-office mandates are unpopular among employees.

6

Microsoft is discontinuing its standalone Cortana app in Windows. Cortana, Microsoft's virtual assistant since 2014, trailed rivals Alexa, Siri, and Google Assistant in popularity.

More:

  • While Cortana will still be available in Microsoft apps like Outlook and Teams, the company is shifting its attention to AI-powered tools, including AI-based Bing search and Windows Copilot AI assistant.
  • Cortana's support has been scaled back over the years, with previous removals from iOS, Android, and the Windows taskbar.
  • The move underscores Microsoft's newfound focus on GPT-4 AI technology over the more basic voice assistant.
  • A Microsoft support document mentions that AI experiences will still be available in Windows 11.
    • It highlights Windows Copilot, the new Bing, Microsoft 365 Copilot, and the new voice access for controlling the PC with your voice in Windows 11.

7


Community Corner

Last week, we asked our tech community, "Do you think that technology is making us more or less creative?" Here’s a highlighted response we received: 

Madison Peter (p/Madison85), Developer at Delimiti, answered: “Technology can both make us more and less creative. On the one hand, technology can provide us with new tools and resources that can help us to be more creative. For example, we can use technology to create new forms of art, music, and literature. We can also use technology to solve problems in new and innovative ways. On the other hand, technology can also make us less creative. For example, we may become too reliant on technology to solve our problems, which can lead to us becoming less creative in our own thinking. Additionally, technology can sometimes make it easier for us to copy and paste ideas from others, which can stifle our own creativity.”

Join the conversations at Inside.com, and we may shout out your name and business, or contact you for more! ⭐

   
8

QUICK HITS

  • Wiz partnered with Wiley to create the AWS Security Foundations Guide For Dummies. This free 46-page guide includes techniques for securing AWS resources.* 
  • Google has added an AI-powered grammar checker to Search, competing with Grammarly.
  • Microsoft patented a new modular HoloLens device that appears more consumer-friendly, suggesting a potential shift in its mixed-reality strategy.
  • The Alphabet Workers Union has accused Google-parent Alphabet Inc. of illegally terminating contract employment for most Google Help workers trying to unionize.
  • Join over 5000 fast-growing companies around the world that trust Vanta to manage risk and prove security in real-time. Inside readers get $1,000 off.*





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