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At Meta, in CEO Mark Zuckerberg's words, 2023 was the "year of efficiency," and the stock jumped almost 200% alongside 20,000 job cuts. AI demand is so great that some tech companies are cutting headcount in parts of the business to invest more heavily in developing AI products. Phil Spencer, CEO of Microsoft Gaming, appears at the Political Opening of the Gamescom conference in Cologne, Germany, on Aug. 23, 2023. Within tech, a wide variety of companies, big and small and spanning the consumer and enterprise markets, are eliminating jobs. But, he added, there's an "enormous base" of small and mid-sized tech companies across the U.S., and that in some cases contractors, freelancers and overseas workers are being hit particularly hard.
Persons: Peter Kramer, They've, Mark Zuckerberg's, Zeile, Phil Spencer, Franziska Krug, Sundar Pichai, Bob Carrigan, Nigel Vaz, Publicis Sapient, Salesforce, Meta's, " Vaz, Levi Strauss, Bob Bakish, Tim Herbert, Herbert, there's, Vaz, Michael Bloom, Annie Palmer, Jennifer Elias Organizations: Nasdaq, CNBC, Apple, Meta, Microsoft, Investors, Activision Blizzard, SAP, Microsoft Gaming, Facebook, Citigroup, Paramount, Commerce Department, Gross Locations: Cologne, Germany, U.S
BINigel Vaz, CEO of Publicis Sapient, a consulting firm, compares the buzz around AI to the early days of the internet. BINela Richardson, chief economist at ADP, told BI there's a big learning gap on what constitutes AI. Much of what is being called "generative AI" has been around for decades, while much of what workers think is AI is actually automation. Similarly, Guru Gowrappan, CEO of ViaSat, a communications operator, says many companies are just talking about AI at Davos — but not actually doing much with it. And some of them are just recategorizing what they were doing to call it AI," he tells BI.
Persons: , I've, Davos — I've, Sheila Warren, there's, Warren, Nigel Vaz, Publicis, Vaz, Bain, Nela Richardson, Richardson, Ivana Bartoletti, Guru Gowrappan, Gowrappan Organizations: Service, Economic, Business, Davos —, Crypto, VR, Infosys, IBM, Accenture, Consulting, ADP, Wipro, ViaSat, Davos Locations: Davos
AI and cloud tech are giving some banks an edge over competitors and enticing brand loyalty. Traditional banks that ignore this reality risk losing loyal customers to digital banks that have emerged over the past few years, research suggests. Digital transformation is a must for banksWith online banking now the norm, digital transformation is no longer optional for banks. Legacy banking systems were not designed to provide the banking experience that people expect today," she said. As a result, banking customers and employees can view transactions in real time and deliver "a more seamless and personalized experience" for all stakeholders, she added.
Persons: Banks, Victoria Newton, Newton, Laura Merling, Merling, Jay Venkateswaran, WNS, Eno, Goldman Sachs, Nigel Vaz, Publicis, Publicis Sapient Nigel Vaz, Venkateswaran, Vaz, James Whybrow Organizations: Service, Starling Bank, Arvest Bank, Banking, Capital One, Microsoft, Bank of America, Amazon Web Services, Google, Economist Intelligence Unit, Arvest, Software AG, Software Locations: Wall, Silicon, It's, Starling, WNS, Morgan
As technology shapes customer habits, entire industries, and society at large, digital transformation has become a critical priority for every company. A February report from Deloitte found effective digital transformation initiatives could increase market capitalization by a staggering $1.25 trillion. From artificial intelligence to extended reality, a variety of technologies are shaping digital transformation strategies. He said he expected industries with "significant human implications," such as healthcare and space exploration, to benefit the most from digital transformation. Extended reality — a combination of virtual reality, augmented reality, and mixed reality often called "XR" — is another technology that could revolutionize organizational cultures.
Persons: Nigel Vaz, Publicis, It's, Vaz, Jean Pelletier, Pelletier, Schneider, Beth Johnson, Johnson, Tom Fairbairn, Tom Fairbairn Fairbairn, Duncan Roberts, Roberts Organizations: Technology, Morning, Deloitte, Netflix, Schneider, Schneider Electric, Citizens Bank, Amazon Prime, Amazon Web Services, Company, Imperial College London Locations: Cognizant
Fears of new tech like artificial intelligence — and its implication for jobs — are on the rise, but one CEO thinks technology is actually a superpower. Nigel Vaz, CEO of digital consultancy Publicis Sapient, explained that it was the rise of computers that helped him unlock his potential. Discovering computers "changed everything" for him — but he wasn't the first to see the power and potential of technology. "I was surrounded as a child by comic books," Vaz explained. Vaz said that he believes it's not just comic book heroes that can use technology as a superpower.
Persons: Nigel Vaz, Sapient, CNBC's, " Vaz, it's, Nigel Vaz's
Davos panel talks about the value of engaging diverse voices
  + stars: | 2023-01-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDavos panel talks about the value of engaging diverse voicesTiwale founder Chmba Chilemba and Elio co-founder & CEO Kami Krista talk about the value of taking part in global conversations. President & CEO of GLAAD Sarah Kate Ellis and Publicis Sapient CEO Nigel Vaz also join the discussion.
The Visionaries Network at Davos
  + stars: | 2023-01-19 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Visionaries Network at DavosCNBC brings together leaders looking to make a difference. This specially curated panel brings together young people from the Nile Rodgers’ We Are Family Foundation and pairs them with current C-Suite executives. Publicis Sapient CEO Nigel Vaz, President & CEO of GLAAD Sarah Kate Ellis, Tiwale founder Chmba Chilemba and Elio co-founder & CEO Kami Krista join the discussion.
Publicis Sapient CEO Nigel Vaz on his advice for Elon Musk
  + stars: | 2022-11-18 | by ( Tania Bryer | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPublicis Sapient CEO Nigel Vaz on his advice for Elon MuskCNBC's Tania Bryer sits down with Publicis Sapient CEO Nigel Vaz at the launch of the Impact Films initiative.
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