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Newsletter: Signs of the Tech Revolution #3

This week, we cover AI developments in HR, Microsoft’s Models-as-a-Service feature, new data breach disclosure rules in the US, and platformization.
Maxima Consulting's biweekly "Signs of the Tech Revolution" newsletter logo
Published on
May 24, 2024
Last updated on
July 3, 2024

Hello and welcome to the Signs of the Tech Revolution newsletter. Every two weeks, we bring you insights and developments in business and tech that will affect how you approach business now and in the years to come.

This week was mainly about OpenAI and Scarlett Johansson’s voice. To sum it up, Scarlett Johansson had an issue with OpenAI’s ChatGPT voice assistant, called “Sky.” She believed Sky sounded too similar to her voice. OpenAI maintained that they hired a different actress and never intended to imitate Johansson. There were questions about how OpenAI obtained the voice data and Johansson’s lack of compensation. After the controversy, OpenAI paused using Sky’s voice.

News #1: AI could perform more than half of HR assistant tasks by 2032

AI could automate over half of HR assistant tasks by 2032, according to a Cognizant report. Entry-level jobs such as proofreaders, copy editors, and customer service reps will also be significantly impacted, with proofreaders seeing 83% of their tasks automated.

Kathy Diaz, Cognizant’s Chief People Officer, highlights that AI will enhance human skills, encouraging professionals to expand their capabilities. As AI adoption grows, companies must invest in reskilling programs to stay competitive.

However, this transition poses challenges, including job disruptions and legal concerns about data protection.

Read more

News #2: Microsoft sees its Models-as-a-Service feature democratizing access to AI

Microsoft’s new Models-as-a-Service (MaaS) via AI Azure Studio simplifies AI deployment by letting developers rent inference APIs without managing complex infrastructure. With MaaS, you can easily deploy models like OpenAI’s GPT-4, Meta’s Llama 3, and more through a user-friendly catalog. This approach shifts the focus from technical details to creativity, empowering developers to bring AI-powered applications to life. 

By offering a pay-as-you-go plan, Microsoft ensures that both small startups and large enterprises can leverage advanced AI capabilities without significant upfront investment. This democratization of AI access is set to drive innovation across industries.

As AI research and commercialization converge, the demand for such accessible, efficient AI services is growing. Businesses must stay ahead by integrating these advancements into their operations, making the most of AI’s potential.

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News #3: Financial institutions have 30 days to disclose breaches under new rules

The U.S. Securities and Exchange Commission now requires financial institutions to disclose data breaches within 30 days. Amendments to Regulation S-P mandate that broker-dealers, investment companies, and advisers notify individuals if their personal information is compromised. 

Institutions must develop policies to detect and manage breaches, maintain compliance records, and align safeguards for all customer data. The aim is to protect customer privacy by ensuring timely notifications and robust policies for detecting and managing breaches. The new rules take effect 60 days after publication, with 18-24 months for compliance.

However, a loophole allows institutions to avoid disclosure if they prove no substantial harm is likely. As SEC Chair Gary Gensler noted, these updates are crucial for safeguarding financial data in today’s digital age.

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News #4: Palo Alto Networks lands 60+ platformization deals in fiscal Q3

Palo Alto Networks’ platformization strategy is gaining momentum! In fiscal Q3, they secured 65 platformization deals, including an eight-figure deal with a major financial services firm. CEO Nikesh Arora emphasized that many organizations struggle to keep up with cyber threats, but platformization offers a better solution.

Platformization involves combining various security tools and services into a single, cohesive system that offers enhanced functionality, simplified management, and better overall performance. It significantly enhances security outcomes and has a positive impact on customer satisfaction.

This innovative approach is transforming cybersecurity, delivering better outcomes for fully platformized customers. However, not every company has the capacity to design, build, and maintain integrated platforms to support various products and services within their organization. To start working on your platformization strategy, schedule a consultation with one of our experts.

Read more

Other Resources

  • Amazon is reviving its logistics expansion; they are leasing more warehouse space to speed up deliveries and respond to growing competition - Read more
  • Comcast improved its internet service’s energy efficiency by 40% by moving computing power to its edge cloud to process more customer traffic with less electricity - Read more
  • Gartner announces Annual Rankings of the Global Supply Chain Top 25. Schneider Electric retains the 1st position, and NVIDIA debuts in seventh - Check the whole list
  • Google is offering its Workspace productivity suite at no cost for 18 months to new enterprise customers. This move comes as Google competitor Microsoft grapples with the aftermath of major cyber incidents - Read more
  • Red Hat wants to be the platform for enterprise AI. The company went all-in on generative AI, offering a wide range of tools for operational and development teams to help them build and deploy generative AI systems. Red Hat did not release its own model; it partnered with IBM to feature the Granite models as the default option in its toolsets - Read more 
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