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The scourge of customer satisfaction surveys
  + stars: | 2024-04-22 | by ( Adam Rogers | ) www.businessinsider.com   time to read: +12 min
— is devoted to customer surveys. Other metrics followed: the Customer Satisfaction Score, the Customer Effort Score, measurements of the entire Customer Experience. At the peak of the so-called sharing economy, customer surveys were all-powerful. The glut of customer surveys has created an additional problem for marketers. "We ask for customer feedback on these things all the time, but it's hard for a customer to give you immediate feedback, because a customer doesn't know what quality is yet."
Persons: you've, I'm, They're, Brad Anderson, Fred Reichheld, Nick Lee, James Wagner, It's, Christine Moorman, Lee, That's, it's, hasn't, Anderson Organizations: NPS, Warwick Business School, University of Michigan's Institute for Social Research, Companies, Duke University, Institutional, Board, Health Service Locations: United States, Qualtrics, Bain, Warwick
This work diminished short-term revenue, but was best for customers, much appreciated, and should bode well for customers and AWS longer-term. We're also making progress on many of our newer business investments that have the potential to be important to customers and Amazon long-term. Being intentional about building primitives requires patience. Customers building their own FM must tackle several challenges in getting a model into production. Customers' AI models contain some of their most sensitive data.
Persons: Andy Jassy, Jassy, Jeff Bezos, he's, we've, Martha Stewart, Clinique, we're, We've, bode, We're, I've, iterating, We'd, we'd, Fox, affordably, you've, They're, Anthropic, that's, Claude, Dana, debugs, Slack Organizations: Amazon, Services, AWS, Deal, Prime, MGM, Savings, Regions, Citadel, Target, Storage Service, Netflix, Disney, Max, Paramount, CIA, . Intelligence, Amazon Freight, Carrier, Amazon Shipping, Foods, Drones, Amazon Pharmacy, Amazon Clinic, Robotics, Nvidia, Ricoh, NatWest, FMs, Meta, Bridgewater Associates, Farber Cancer Institute, Delta Air Lines, Intuit, KT, Lonely, LexisNexis, Netsmart, Pfizer, PGA, Rocket Companies, Siemens, Media, Inc Locations: North America, U.S, Europe, India, Brazil, Australia, Mexico, Middle East, Africa, Malaysia, New Zealand, Kingdom of Saudi Arabia, Thailand, Berlin, Hulu, Amdocs, Genomics England, GoDaddy, GenAI
"When demand for other consumer products comes up, or when it increases, it's usually not too hard for people to scale up supply," Brannon said. Moreover, the current housing affordability makes 64.2% of owners and renters have negative feelings about the economy, Redfin found. In fact, affordable housing is a pressing topic for both liberal and conservative voters: the topic is ranked as No. 1 for liberals while it's No.3 for conservatives, according to a separate survey by The Real Estate Witch. To address the issue, President Biden announced in early March as part of his budget for fiscal 2025, a plan to cut housing costs, boost supply and expand access to affordable housing.
Persons: Brannon, Kirabo Jackson, Qualtrics, Redfin, it's, doesn't, Brennon, Biden Organizations: Westend61, U.S . Census, White House Council, Economic Advisers, CNBC Locations: U.S
Over half of US owners and renters said housing prices will inform their vote for president, Redfin said. Soaring mortgage rates and prices have made it hard for Americans to buy property. President Biden recently unveiled proposals to boost housing affordability in the US. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . February saw mortgage rates inch back up, reversing course after a period of declines as markets adjusted expectations for rate cuts from the Federal Reserve.
Persons: Redfin, Biden, , Daryl Fairweather Organizations: Service, Qualtrics, Federal Reserve Locations: November's
But experts say that while AI tools might be new, watching, reading and tracking employee conversations is far from novel. A Chevron spokesperson told CNN the company is using Aware to help monitor public comments and interactions on its internal Workplace platform, where employees can post updates and comments. Cybersecurity company Proofpoint uses similar technology to help monitor cyber risks, such as incoming phishing scams or if an employee is downloading and sending sensitive work data to their personal email account. This would prevent employees from not sharing sensitive company data with an AI model, which could resurface in future responses. Even when employees are not on a secure work network, companies are able to monitor activity through browsers.
Persons: , David Johnson, , Johnson, Slack, Reece Hayden, ” Hayden, Hayden Organizations: CNN, Walmart, Starbucks, Chevron, Forrester Research, Microsoft, Warner Brothers Discovery, Fortune, ABI Research, Meta Locations: Delta
The Singapore River and Merlion Park in the eveningSINGAPORE — Singapore's plan to invest more than $743 million into artificial intelligence over the next five years could strengthen its position as a global business and innovation hub, tech executives said. In his Budget speech on Friday, Deputy Prime Minister Lawrence Wong said Singapore will invest more than 1 billion Singapore dollars over the next five years to further boost the country's AI capabilities. As part of the investment, Singapore will work to ensure it can secure access to the advanced chips "that are so crucial to AI development and deployment," Wong said. Singapore will also work with leading companies here and around the world to set up AI centers of excellence to spur innovation, he added. Singapore workers are already the world's fastest when it comes to adopting AI skills, according to LinkedIn's Future of Work report released in August.
Persons: Lawrence Wong, Nithin Chandra, Chandra, Wong, Jonathon Dixon, Mao Gen Foo Locations: Singapore, SINGAPORE, Southeast Asia, Kearney, Cloudflare
Aware's analytics tool — the one that monitors employee sentiment and toxicity — doesn't have the ability to flag individual employee names, according to Schumann. Speaking broadly about employee surveillance AI rather than Aware's technology specifically, Williams told CNBC: "A lot of this becomes thought crime." When including other types of content being shared, such as images and videos, Aware's analytics AI analyzes more than 100 million pieces of content every day. "It's always tracking real-time employee sentiment, and it's always tracking real-time toxicity," Schumann said of the analytics tool. Amba Kak, executive director of the AI Now Institute at New York University, worries about using AI to help determine what's considered risky behavior.
Persons: George Orwell, there's, Slack, Jeff Schumann, Schumann, Jutta Williams, Williams, chatbot, he's, Orwell, Rather, Amba Kak, Kak, they're Organizations: Istock, Microsoft, U.S, Walmart, Delta Air Lines, Mobile, Chevron, Starbucks, Nestle, AstraZeneca, CNBC didn't, Delta, CNBC, Humane Intelligence, Goldman Sachs Asset Management, Nationwide, CBS, Meta, New York University, Federal Trade Commission, Justice Department, Opportunity Commission Locations: Columbus , Ohio, Chevron, United States, Slack
Cecily Motley, the co-founder of Harriet, an AI-powered workplace assistant, calls these repetitive, tedious activities "vampire tasks" — and warns that getting bogged down by admin work is the number one thing that kills people's productivity. "It's those dull, time-sucking tasks like scheduling meetings and responding to emails that drain your energy and take time away from deep-focus work or higher-value projects," she explains. "That constant influx of administrative tasks can hurt productivity the most." Responding to every notification as it comes in can make it harder to refocus on the work you were previously engaged in. Instead, Motley suggests turning off your notifications at work and checking incoming messages/alerts all at once during your admin period.
Persons: Cecily Motley, Harriet, Motley, timeboxing, Slack, Qualtrics Organizations: Salesforce
One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.
Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City
By Anirban Sen(Reuters) - Merchant bank BDT & MSD Partners, the owner of Alliance Laundry Systems, is exploring a sale of the U.S. laundry equipment manufacturer that could value it at nearly $5 billion, including debt, according to people familiar with the matter. BDT & MSD Partners, Alliance Laundry, and Morgan Stanley declined to comment. It supplies laundry systems to U.S. military facilities, laundromat chains, hotels, long-term healthcare facilities and clinics, restaurants, fire stations, residential apartments, and other businesses across sectors. In 2015, Ontario Teachers’ Pension Plan sold its majority stake in Ripon, Wisconsin-based Alliance Laundry to BDT Capital Partners, prior to its merger with MSD Partners. BDT & MSD Partners is run by former Goldman Sachs alumni Trott and Gregg Lemkau.
Persons: Anirban Sen, Morgan Stanley, Michael, Byron, Primus, Goldman Sachs, Trott, Gregg Lemkau, Silver, Armour, Shari Redstone, Chizu Nomiyama Organizations: Reuters, Merchant, MSD Partners, Alliance Laundry Systems, Alliance, Laundry, BDT Capital Partners Locations: Ontario, Ripon , Wisconsin, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualtrics founder Ryan Smith: We help organizations understand how people think and feelRyan Smith, Qualtrics founder and executive chairman, joins 'Squawk Box' to discuss the state of the company, how Qualtrics helps companies with data on sentiment and experience, why he wants to transform Utah into a tech hub, and more.
Persons: Ryan Smith Locations: Utah
But to secure that dream job, you first have to go through a maze of applications, screenings and interviews that you may not feel prepared for. No one teaches you how to do job interviews well. CNBC Make It's first-ever online course How to Ace Your Job Interview launches on Jan. 10, providing a step-by-step guide to successfully navigating the job search and interview process. Want to take control of your job search this year? Sign up today for the online course How to Ace Your Job Interview and save 50% with a limited-time introductory offer.
Persons: Hanna Howard, Benjamin Granger, Erin McGoff, Jermaine Murray Organizations: CNBC
Activist investor Anson Funds has built a stake in Twilio and sent a letter to the enterprise software company's board pushing for the sale of the entire business, a person familiar with the matter told CNBC. The letter to the board urges Twilio to either sell itself or at a minimum, divest its data and applications business, the person familiar said. "Twilio regularly engages with shareholders and appreciates constructive input that furthers our goal of creating sustainable long-term value," a Twilio spokesperson told CNBC in a statement. The continued activist attention caps off a challenging year for Twilio, which makes software that helps businesses engage with their customers. In March, Silver Lake and CPP Investments announced a deal to take survey software company Qualtrics private in a $12.5 billion deal.
Persons: Jeff Lawson, Anson, Twilio, Sagar Gupta, Gupta Organizations: Twilio Inc, New York Stock Exchange, CNBC, Legion Partners, The, Twilio, Communications, Tech, Investments, IBM, Cisco, CNBC PRO Locations: New York, Twilio, Silver
Having employers examine social media wasn't a winning idea for most people. Only about four in 10 workers were comfortable with letting employers mine social media posts — signed or anonymous — for insights. That could come from sites like Glassdoor or apps like Blind or even social media posts that don't identify individuals. Not surprisingly, younger workers were somewhat more comfortable than their older colleagues with companies monitoring social media posts. Among Gen Z and millennial workers, 45% were OK with employers reviewing non-anonymous social media posts.
Persons: , Benjamin Granger, Granger Organizations: Service, Boomers
During an interview for an engineering job at a Utah tech company, Trina Limpert was told she was a "risky hire." Insider spoke to 22 women who previously or currently work at Utah tech companies told Insider. Silicon Slopes, named for Utah's world-class ski slopes, is headquarters for tech companies like Ancestry, Domo, Entrata, Pluralsight, Qualtrics, and hosts outposts for others like Adobe and a Meta data-center. Many women — both Mormon and not — described their Utah tech companies as a Mormon boys' clubs. Ancestry, one of Utah's most established tech companies, hired former Facebook executive Deborah Liu as CEO in 2021.
Persons: Trina Limpert, Limpert, she's, she'd, Claudia Geist, It's, of Jesus Christ, Robyn Cohen, Michelle Kuo, Kuo, They're, , Robbyn Scribner, Mike Pence, they're, Scribner, Susan Madsen, there's, harasser, I've, John Richards, Richards, " Richards, Emily Perkins, that's, Deborah Liu, Liu, Heather Friedland, Ashlee Davis, who've, we're, " Madsen Organizations: Computing Technology Industry Association, Tech, University of Utah, Google, Microsoft, Meta, Adobe, Brigham Young University, of Jesus, US Chamber of Commerce, American Community Survey, Salt Lake City Tribune, Utah State University, Ignition Ventures, NASDAQ Locations: Utah, Silicon Slopes, Silicon Valley, California, Washington, New York , Utah, Utah's, New York, JumpSearch, Silicon, Southern California, Salt Lake, There's, Seattle, Glassdoor, @rosaliechan
Amazon and Meta have said you could be fired or dinged in your review for not going to the office. Focusing on days in the office misses a chance to tell workers how it could benefit their careers. Yet the flex misses a chance to have a savvier conversation over how being together can benefit workers' careers, experts say. I think the opportunity is for us to get off the silly construct of days in office," Garbarino said. Garbarino said leaders should look past days in the office and focus on what they can do to help their workers develop.
Persons: , Chase Garbarino, Garbarino, Paul Knopp, Knopp, Benjamin Granger, Granger Organizations: Meta, Service, Amazon, Kastle Systems, KPMG US Locations: That's
This story is part of CNBC Make It's Millennial Money series, which details how people around the world earn, spend and save their money. Ethan Nguonly, 22, is a software engineer at Google living in Orange County, California. Living in Orange County, California, Nguonly aims to spend intentionally in order to put as much money as he can toward his investments. Tristan Pelletier | CNBC Make ItAbout a year after buying his investment property, Nguonly purchased his primary residence in La Palma, California. While he's kept a significant amount of money in crypto, Nguonly now mainly focuses on investing in ETFs and real estate.
Persons: Ethan Nguonly, it's, he's, Nguonly, Tristan Pelletier, Nguonly's, I'm, Ethan Nguonly Nguonly's, lockdowns, couldn't, — Nguonly, It's, it'd, didn't, Sakura, takeout, you've, there's Organizations: CNBC, FIRE, Google, University of California, UC Berkeley, Transportation, Spotify Locations: Orange County , California, Florida, California, Berkeley, Qualtrics, Virginia, Riverview , Florida, Riverview, Hurricane, La Palma , California, Orange County, New York, Singapore, Cambodia
Workers in Asia are spending the most time on "performative work" — in other words, focusing on appearing busy more than doing real, productive work. Japan (63%), Singapore (63%) and India (57%) were ranked lowest for percentage of time spent on productive or "real work," Slack said. According to Laney, employees' focus on appearing busy is "likely influenced" by the way leaders are measuring productivity. For example, 44% of Singapore employees — the highest globally — say their productivity has been affected by spending "too much time" in meetings and emails. "There is an opportunity for companies to explore new and different ways of working, such as … adopting asynchronous ways of working rather than meetings, to facilitate more effective collaboration at work," Laney said.
Persons: Derek Laney, Slack, Laney, they're Organizations: Asia Pacific . Workers, Salesforce, Global, U.S, Derek Laney Technology, Employees Locations: Asia, India, Japan, Singapore, France, Kingdom, Australia, Germany, States, Korea, South Korea
The AI boom is screwing over Gen Z
  + stars: | 2023-07-17 | by ( Ed Zitron | ) www.businessinsider.com   time to read: +13 min
Now, with the advent of generative AI, organizations are starting to automate many "junior" tasks — stripping away their dubious last attempt to "teach" young employees. America's young workers are headed toward a career calamity. Nobody wants to teach anymoreEven before the rise of AI, young people were facing an early-career crisis. This lack of care is clearly weighing on the young workers who need career development the most. Humans can be enhanced by AI, helped by AI, but replacing them with AI is a shortsighted decision made by myopic bean counters who can't see the value in a person.
Persons: there's, Gen, Gen Zers, it's, Gen Z, Louis, Zers, millennials, Peter Cappelli, Capelli, Paul Osterman, they'd, Osterman, they'll, ChatGPT, Qualtrics, What's, they're, Ulrich Atz, Tensie Whelan, New York University's, Atz, Whelan, , There's, Knight, It's, Ed Zitron Organizations: Management, Federal Reserve Bank of St, National Association of Colleges, Employers, University of Pennsylvania's Wharton School of Business, US Department of Labor, MIT, Pew Research Center, National Bureau of Economic Research, Gallup, Workplace Intelligence, Amazon, Boston Consulting Group, New York, New York University's Stern Center, Sustainable Business Locations: America, New, Fortune
Financial differences are driving some Gen Zers and millennials to break up with their "spendy friends." Eighty-eight percent of millennials and 80 percent of Gen Zers said spending time with these friends resulted in them taking on debt. Forty-three percent of millennials said they overspent on dining out, as did 37% of Gen Zers. In addition, 37% of millennials and 32% of Gen Zers report overspending on drinks and nights out. More than a third of Gen Z consumers, 36%, also said they overspent on clothing.
Persons: Zers, Gen Z, Qualtrics, it's, Courtney Alev, Z, Gen Zers, Alev, overspending, millennials, Gen Organizations: Service, Credit Locations: Wall, Silicon, millennials
Work friendships are not just a benefit to employees, but also the companies they work for, according to Gallup CEO Jon Clifton. Clifton notes that work friendships reduce employee turnover, speed up communication and especially in blue-collar environments, reduce safety incidents. CNBC Make It talked to employees and experts on navigating workplace friendships. The August survey from Qualtrics found that 70% of employees in remote and hybrid work environments have close work friendships. At her last job, Nixon felt like she could at least talk to her coworkers about these experiences — at her current job, not so much.
SAP raises 2025 outlook, launches 5 bln euro share buyback
  + stars: | 2023-05-16 | by ( ) www.reuters.com   time to read: +1 min
BERLIN, May 16 (Reuters) - SAP (SAPG.DE) on Tuesday raised its 2025 total revenue outlook for continuing operations by around 4 billion euros ($4.40 billion) and announced a share buyback of up to 5 billion euros, boosted by strong demand for its cloud business. For 2025, the company now expects revenue of more than 37.5 billion euros with cloud revenue of more than 21.5 billion euros. It now sees non-IFRS operating profit of around 11.5 billion euros. "Our strong, resilient cloud growth drives accelerating total revenue and operating profit growth," Chief Executive Christian Klein said in a statement. Last month, SAP reported first-quarter revenue above analysts' expectations, backed by 24% growth in its cloud business revenue.
A Pennsylvania battery maker was ordered to pay 7,500 workers $22 million in unpaid overtime. The DOL said East Penn Manufacturing Company Inc. didn't pay employees for their time spent preparing to work in hazardous conditions. During its investigation, the DOL found that East Penn employees were only being paid for their contracted 8-hour shifts. In a statement to Insider, a spokesperson for East Penn said the jury also found that East Penn did not act in a knowing or reckless disregard of the law. "East Penn appreciates the time and attention of the jurors over the course of this lengthy andcomplex trial.
SAP slightly lowers outlook after Qualtrics divestment
  + stars: | 2023-04-21 | by ( ) www.reuters.com   time to read: +1 min
April 21 (Reuters) - Business software maker SAP (SAPG.DE) on Friday slightly lowered its outlook due to the divestment of its Qualtrics unit while reporting first-quarter revenue growth that beat expectations. SAP reported revenue growth of 10% in the first three months of 2023, to 7.44 billion euros ($8.15 billion), beating expectations of 7% in company-provided consensus. The tech giant now expects non-IFRS operating profit in the range of 8.6-8.9 billion euros, 200 million euros less than before. For cloud revenue, it now targets between 14 and 14.4 billion euros, down 1.3 billion euros from previous guidance. Additionally, the IFRS operating result was affected by restructuring costs associated with SAP's recent cost-cutting program.
The logo of German software group SAP is pictured at the headquarters of SAP (Schweiz) AG in Regensdorf, Switzerland January 22, 2021. Revenue from SAP's lucrative cloud business grew 24% year-on-year, broadly in line with consensus. For the year, SAP expects non-IFRS operating profit in the range of 8.6-8.9 billion euros, 200 million euros less than before. Cloud revenue forecast is seen down by 1.3 billion euros to between 14 and 14.4 billion euros. "Underlying guidance is essentially unchanged, although updated to reflect the disposal of Qualtrics," Jefferies analysts wrote in a client note.
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