Connect with us

Technology

THE RISE OF AI AND WHO’S HIRING

RS COMPONENTS –

With 2020 just around the corner it seems like five minutes ago when the world saw the turn of the century in 2000, and it’s safe to say a lot has changed since then. Technology has come on leaps and bounds over the last 20 years, with the release of the first iPod in 2001 and the first iPhone only released in 2007. Just a handful of years later and chances are, most of us are just a few inches away from a mobile phone, laptop or iPad. We are living in a truly digital era, where technology has become increasingly interwoven and ingrained into both our personal and working lives.

Over the last decade or two technology has become incorporated into all industries, having a dramatic impact and transforming job roles and responsibilities to varying degrees. For some, the workplace has been transformed entirely because of technology. With computer brains working at a rate far beyond the comprehensibility of the human brain, menial tasks that could take hours, days even weeks to complete with the risk of human error to top it off, are now being finished in minutes, due to the ability of tech machines to process data fast. As a result, technology has reduced the time spent on tasks in the workplace and also removed them altogether, which as a result has seen some job roles become redundant.

A major technological advancement has been the creation and incorporation of Artificial Intelligence (AI) in our day-to-day lives both at work and at home. Whilst this technology is only now being incorporated into our lives for us to notice, the term was coined all the way back in 1956 by John McCarthy, and has been studied ever since. AI is immensely useful in industries with staggering amounts of important data to process, including national health, banking and legal services. Not only is this technology reducing the risk of human error in processing the data manually, AI is saving time and money as a result.

Processing data is a great example of technology taking over our jobs and this isn’t set to stop as more innovations are being pushed forward and implemented. A former Google Exec predicted that AI will replace 40 per cent of jobs in the next 15 years, Whilst this can be a cause of anxiety for those who may be at risk of losing their job to a robot, it is also important to note the exciting possibilities of new job roles we haven’t even heard of, which will naturally emerge with the rise of tech in the workplace. The former Google Exec supports this, stating that AI will allow entire new industries to be built up from the ground.

AI is still being understood by many industries, and is still unfamiliar to many on how to incorporate it. At the forefront of this technology in the workplace are the globe’s tech giants, including the likes of Microsoft, Apple, Google and Amazon who are recognising the potential of the tech, leading the way in its implementation. These leading companies are recruiting roles that incorporate the technology to lead a more technologically ingrained future. Working for one of these tech giants is a dream for many, but do you need to get familiar with AI to work for these tech giants in the near future?

RS Components has analysed job posts from some of the world’s biggest tech companies in this interactive campaign here, to discover who has the highest percentage of AI-related job openings.

 

Company

Number of job openings related to AI

% of jobs for AI

Microsoft

1,964

36

NVIDIA and Nuance

369

33

JD.com (Corporate)

19

20

Google

837

18

Intel

432

17

SAP

320

12

Accenture (UK jobs only)

34

11

Nokia

76

6

Facebook

191

6

Netflix

35

6

 

Leading the way is Microsoft, who currently have a staggering 1,964 AI job openings, which is over double any other company in the top 10. The figure equates to 36% of Microsoft’s total jobs they have available and comes as no surprise as the company continue to lead the way with some of the world’s most innovative inventions. It also helps that the CEO Bill Gates is one of the richest people on the planet, which allows for the company to invest and really push for AI in the workplace.

 

Coming in at second is Nvidi, a computer game company involved in designing and developing new gaming material. With 33% of its jobs relating to AI, this technology will be immensely useful in building games quickly and efficiently. In third place is JD.com, which whilst the number of AI openings is just 19, the percentage of this across their vacancies is a whopping 20%.

 

Arguably the largest tech company in the world today, Apple rank surprisingly low at 12th, with just 129 AI jobs available, just 3% of their total vacancies. Amazon ranks even lower at 15th, with just  2% of its total 18,781 roles being related to AI. Whilst this can’t be down to its founder, Bezos who shows off a net worth of a whopping $134 billion, it is likely these companies have already recruited the majority of their AI roles a few years back.

 

So with AI on the rise, which industries will be next to recruit roles related to this technology?

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

WHY DIGITAL TRANSFORMATION IN FINANCIAL SERVICES IS ABOUT CULTURE FIRST, TECH SECOND

Stuart Templeton, Head of UK at Slack 

 

In today’s world, there’s no such thing as a ‘non-tech fin’. Every financial services company needs to consider itself a fintech in order to bring about the innovation, speed, and transparency that customers expect, and that’s why most are pumping significant investment into their digital transformation efforts.

Part of the challenge faced by traditional incumbent banks is that they rely on legacy core systems that stifle the speed of change. These core systems were not built in an API first era. The good news of course is that the obligations of PSD2 and open banking have gone some way to facilitate future innovation.

While legacy banking platforms do continue to present a technical challenge, the human one can be even greater. Traditional institutions are often faced with the prospect of rebuilding their culture from scratch in the pursuit of becoming digital-first. Like many industries, the fundamental challenge is one of coordination: the creation and maintenance of alignment over time.
Couple this with the fact that the expectations of today’s workforce are changing, then companies in the industry have a real job on their hands. A growing percentage are digital natives, and millenials – who greatly value trust and transparency – make up the largest proportion of the workforce today. So how have businesses in the industry historically ingrained culture, and how does this need to change?

 

Old ways of working – Team A, and Team B

Traditionally, the culture within large financial organisations has been separated by two distinct teams: operations, and tech. They are driven by seemingly opposing forces – one by GANTT charts and lofty business goals, the other by agile software delivery and customer obsession. Often, the two don’t even speak the same language, let alone collaborate and share ideas. Of course there are digital projects, but they aren’t the embodiment of the business, and often tech teams find themselves battling to get buy-in from internal stakeholders who are somewhat removed from those that drive innovation.

Part of the problem is even the notion of having digital transformation projects – there is no such thing in today’s environment – as digital is an overarching movement, and financial services institutions must think of themselves as ‘digital factories’ in order to see a marked change. It is no longer enough to deliver tech updates both internally and externally once every few months, with speed diminished by layers of bureaucracy.

What needs to happen, then, is that these two business segments need to find a way to blend that helps the old incumbents forget their binary ideas of teamship from time gone by and instead let them come together to become one unit. Flattening the established hierarchy so that workers from across all lines of the business can communicate, share ideas and identify problems in real-time is, after all, the key to addressing the transformation gap. They need to think on their feet and iterate as they go: it’s agile thinking, but permeating outside of just the software delivery cycle.

 

Eating the elephant – one bite at a time

The solution, in theory, is relatively simple: companies need to break open the silos of information created by technologies like email and ensure anyone within a business has access to the knowledge and skills they need to make their projects a success. But of course, in practicality, this can present a seemingly insurmountable task.

Using technology to create an agile and transparent working environment that fosters collaboration is key for many financial services organisations that want to see real tangible results from their investments. Digital natives such as TransferWise and Starling Bank are getting this right by prioritising a decentralised business model, one that empowers collaborative working and knowledge sharing that in turn has a positive impact on employee satisfaction and retention.

They do this through collaboration hubs that provide a rich, permanent, searchable record of knowledge for everyone in the organisation.

 

Looking ahead: Team ‘us’ 

Predictions are very difficult, but in five years’ time we can expect to see a greatly altered perception of the financial services industry. We can expect that digital communications tools will continue to play an integral role in the evolution of their workforce culture, helping to bring the right people together internally within the business, as well as strengthening relationships externally with partners and customers alike.

Ultimately, in order to keep learning and improving, banks need to ask questions of themselves as competition and customer demand becomes more fierce: “Why are we doing this?” “What’s the benefit here, and who are we considering in the pursuit of this goal?”

To answer these things, a culture of collaboration and openness is key – underpinned, of course, by the tools that empower it.

 

Continue Reading

Technology

DISPELLING BIOMETRIC MYTHS AND MISCONCEPTIONS

BIOMETRIC

By Lina Andolf-Orup, Head of Marketing at Fingerprints

Gangsters cutting off enemies’ fingers to access secret locations and spies lifting fingerprints from martini glasses – the imagination of the entertainment world has been running wild ever since biometrics entered the scene.

Couple that with the limitations of some early biometric solutions from fifteen years ago, still anchored in the minds of many consumers, and you have the perfect recipe for an apprehensive and uncertain public.

 

Thawing lukewarm attitudes with a biometric touch

The biometrics industry has made great strides in the last few years – something particularly true for smartphones. Fingerprint authentication has replaced PINs and passwords as the most popular way to authenticate on mobile, with 70% of shipped smartphones now featuring biometrics.

And it doesn’t end there. Many adjacent markets are now eager to benefit from the secure and convenient authentication solutions that biometrics offer. Take the payments industry, for example, where biometrics payment cards are currently gathering real momentum.

However, some consumers are still uneasy about accepting biometrics. A recent study found that 56% of US and EU consumers are concerned about the switch to biometrics as it’s not enough understood to be trusted.

Although attitudes are shifting for the better, stats like this demonstrate there is still some work to do to disprove common biometric myths and showcase just how smart today’s solutions really are.

 

Lina Andolf-Orup

Dispel, adopt, repeat

The evolution in consumer biometrics in the last two decades has been phenomenal. And today’s solutions are far more advanced and safe than many may think.

To help bring an end to the myths, let’s expose some of the most common misconceptions around biometrics.

Myth: Biometric data is stored as images in easy-to-hack databases.

A leading myth about biometrics is that when a fingerprint is registered to a device, it is stored as an image of the actual fingerprint. This image can then be stolen and used across applications. In reality, the biometric data is stored as a template in binary code – put simply, encrypted 0s and 1s. Storing a mathematical representation rather than an image makes hacking considerably more challenging. In most consumer applications, this template is also not stored in a cloud-based location, its securely hosted in hardware on the device itself for example in the smartphone, in the payment card. Thus, it stays privately with its owner.

Myth: Fingerprints can be easily replicated to ‘trick’ devices.

The internet is full of articles and videos that claim it is possible to use materials from cello tape to gummy bears to craft fingerprint spoofs and access biometric systems. Although there may have been a time where gummy bear spoofing was the go-to party trick, todays’ consumer biometric authentication solutions have too many technological defences, such as improved image quality and matching algorithms, to simply ‘trick’ devices. Plus, on top this, the criminal needs to have access to the person’s device where this fingerprint is enrolled e.g. smartphone, payment card, before he/she notices and blocks it. This is not scalable nor common, in comparison to gaining access to someone’s PIN code or skimming a contactless card.

Myth: Physical change will prohibit access to my device.

Although our irises don’t change as we age, our fingerprints can and our faces will. Does that mean we have to update our biometric devices every few months to capture these changes? Not quite! Unless there are drastic, sudden changes, the ‘self-learning’ algorithms in modern-day biometric systems are able to keep up with our developing looks.

 

Who you gonna call? Mythbusters!

These are just some of the common biometric myths and misunderstandings perpetuating in consumer mindsets. Thankfully, though, while we’re working hard to rid the world of the myths, belief in the value of biometrics is only expected to grow. But as solutions expand and diversify, the myth-busting fight will continue.

Fingerprints has been a leader of innovation in biometrics for the last two decades. We’re proud of the expertise and R&D we’ve been able to pour into our biometrics solutions to deliver stronger security and a better user-experience. To learn more about the most common biometric misconceptions and the modern-day technology that allows us to dispel them, download our eBook here.

 

Continue Reading

Magazine

Partner Events

Trending

Banking17 hours ago

THE CO-BRAND CREDIT CARD MARKET – SINK OR SWIM

By Chris Vinnicombe, VP Financial Services at Acxiom The co-brand credit card market is the result of the partnerships between...

Finance17 hours ago

HOW TO MANAGE YOUR CASH FLOW IN UNCERTAIN TIMES

While the world is constantly changing, probably at a faster pace now than ever before, businesses need to manage cash...

News17 hours ago

NEW IVALUA STUDY SHOWS TECHNOLOGY CHALLENGES ARE HINDERING PROCUREMENT TEAMS FROM ACHIEVING BUSINESS OBJECTIVES

Lack of system integrations and actionable insights are stopping organisations from accurately measuring performance   Ivalua, a leading provider of global...

Technology17 hours ago

WHY DIGITAL TRANSFORMATION IN FINANCIAL SERVICES IS ABOUT CULTURE FIRST, TECH SECOND

Stuart Templeton, Head of UK at Slack    In today’s world, there’s no such thing as a ‘non-tech fin’. Every...

Business1 day ago

STOP THE CONFUSION: HOW TO KNOW IF YOUR BUSINESS MAY BE INSURED AGAINST COVID-19

By Alex Balcombe, Partner at Harris Balcombe   The last few weeks has seen businesses in hospitality, tourism, retail, leisure...

Top Stories1 day ago

BRAVE NEW WORLD: A FUTURISTIC VISION OF PAYMENTS

James Booth, VP, Head of Partnerships in EMEA for PPRO   Over the last ten years, the retail e-commerce ecosystem...

Interviews1 day ago

A PROPTECH FOUNDER’S BEGINNING, THE START OF KLEVIO AND HOW ACCESS-TECH IMPROVES FACILITIES MANAGEMENT

An interview with Klevio’s CEO and Co-Founder, Aleš Špetič    What is Klevio?  Klevio is a smart intercom that allows...

COVID-19 COVID-19
Wealth Management2 days ago

HERE’S HOW YOU CAN LEARN TO TRADE RISK-FREE DURING THE COVID-19 MARKET CRASH

Trading app BullBear has launched new features to support budding investors looking to hone their skills against the backdrop of...

INSURANCE INSURANCE
Top Stories2 days ago

ENTERPRISE BLOCKCHAIN: DRAGGING INSURANCE OUT OF THE DARK AGES

Ryan Rugg, Global Head of The Industry Business Unit at R3   The history of insurance traces back to the development...

BIOMETRIC BIOMETRIC
Technology2 days ago

DISPELLING BIOMETRIC MYTHS AND MISCONCEPTIONS

By Lina Andolf-Orup, Head of Marketing at Fingerprints Gangsters cutting off enemies’ fingers to access secret locations and spies lifting...

Videos3 days ago

FUTURE FX PROMO

Videos3 days ago

FutureFX Profile

BANKING BANKING
Banking5 days ago

FOUR WAYS OPEN BANKING AND AI WILL REVOLUTIONISE ACCOUNTANCY

Ed Molyneux, CEO and co-founder of cloud accounting software company, FreeAgent   It’s been just over two years since the...

FINANCIAL SERVICES FINANCIAL SERVICES
Finance6 days ago

HOW FINANCIAL SERVICES CAN GET TO GRIPS WITH RISING SUPPLY CHAIN RISK

By Alex Saric, smart procurement expert, Ivalua   UK businesses have never been more dependent on their suppliers to help...

MARKET DATA MARKET DATA
Wealth Management7 days ago

TWO TO TANGO? MARKET DATA AND OPINIONS IN INVESTMENT MANAGEMENT

Sebastien Lleo is Associate Professor of Finance at NEOMA Business School (France)   Analyst views and expert opinions matter. They...

EARLY RETIREMENT EARLY RETIREMENT
Wealth Management1 week ago

AN ULTIMATE GUIDE TO TURNING YOUR EARLY RETIREMENT DREAM INTO A REALITY

Rick Pendykoski is the owner of Self Directed Retirement Plans LLC, a retirement planning firm based in Goodyear, AZ.  ...

FINANCIAL SERVICES FINANCIAL SERVICES
Technology1 week ago

WHAT EVOLUTIONARY AI MEANS FOR FINANCIAL SERVICES

by Babak Hodjat, VP of Evolutionary AI at Cognizant   Many banks and other financial services institutions (FIs) are beginning...

ANALYTICS ANALYTICS
Business1 week ago

HARNESSING ANALYTICS IN THE FIGHT AGAINST FRAUD

By Anna Lykourina, EMEA Fraud Analytics Expert at SAS   In the past, the fight against fraud has been a...

ONESPAN ONESPAN
News1 week ago

ERSTE BANK HUNGARY IMPROVES AND SECURES THE REMOTE BANKING EXPERIENCE WITH ONESPAN MOBILE SECURITY

Leading Hungarian bank deploys OneSpan’s Mobile Security Suite to one million customers to make mobile banking convenient while fighting fraud...

FINANCIAL FINANCIAL
News1 week ago

HOW WILL LENDERS TREAT THE FINANCIAL SYMPTOMS OF COVID19?

COULD the coronavirus pandemic spark a financial crisis similar to that which was seen in 2008? Tim Kirby, Group Commercial...

Trending