Exit Interview By Patrick Donegan #124
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My Thoughts?
A recent article from the Wall Street Journal ?? revealed that SoftBank, a global tech investor, struggled to keep up with the artificial intelligence market after previously emphasizing AI as a core investment strategy. Despite spending over $140 billion on more than 400 startups, SoftBank has, ultimately and objectively, missed out on the AI frenzy, having fallen far behind competitors in building a portfolio of high-value generative AI startups. It’s a setback that highlights the challenges faced by many investors riding the wave ?? of AI enthusiasm and choosing successful AI companies.
Amidst this setback, one thing is clear: SoftBank CEO Masayoshi Son's willingness to express vulnerability and admit failure is commendable. ?? ???? At the company's annual meeting, Son pledged to be at the forefront of the AI field while admitting that he had cried during moments of introspection and felt ashamed of his mistakes. This level of transparency and authenticity is a powerful demonstration of leadership integrity. ?? In a world where executives are often expected to project an image of infallibility, Son's admission shows that even highly successful individuals can make errors and face setbacks. It humanizes him and instills trust among stakeholders who appreciate leaders willing to acknowledge their own fallibility.
The ability to admit when things haven't gone as planned is a sign of true leadership maturity. It fosters an environment where learning from mistakes and course correction are embraced, ultimately leading to growth and improvement. By openly acknowledging his own missteps, Son sets an example for other leaders to follow, encouraging them to embrace humility and create a culture of accountability within their organizations.
SoftBank's journey in the AI investment landscape serves as a reminder of the complexities and uncertainties involved in backing AI-focused companies. While SoftBank missed out on certain AI opportunities, it remains optimistic, with the majority of its backed companies utilizing AI in their operations. As the company prepares to reposition itself in the market, it will be interesting to see how Son translates his vision into action. By embracing a counteroffensive strategy and capitalizing on potential opportunities, SoftBank has the potential to bounce back and regain its position as a leading player in the AI industry. ?? ??
Tech Innovation at Work
PepsiCo ?? has joined forces with the Stanford Institute for Human-Centered Artificial Intelligence (HAI) to advance the future of artificial intelligence. ?? ?? As the first consumer packaged goods company to join Stanford HAI's Corporate Affiliate Program, PepsiCo aims to lead the industry in industrialized AI applications and responsible AI practices while gaining valuable strategic insights. The collaboration will focus on optimizing supply chains, forecasting, and smart manufacturing; enhancing direct-to-consumer impact and personalization; leveraging AI for organizational design; and utilizing AI for sustainability initiatives. By partnering with Stanford HAI, PepsiCo aims to understand the implications of AI, ensure ethical practices, and shape the future of the industry. James Landay, Vice-Director and Faculty Director of Research for Stanford HAI, commends PepsiCo for prioritizing the ethical application of AI.? Through partnerships with universities and policy leaders, PepsiCo aims to guide the industry toward a positive and impactful use of AI in shaping a better future.
领英推è
Professional development platform Pluralsight One ?? and tech apprenticeship company Apprenti have partnered to address the opportunity gap in the technology industry for underrepresented populations. Through apprenticeship programs, they aim to train and place individuals from non-traditional backgrounds into high-demand tech roles like cloud ?? and software development. The global tech skills shortage (with over 900,000 unfilled positions in 2022) poses challenges for both talented individuals lacking opportunities and companies seeking qualified candidates. Pluralsight One and Apprenti's collaboration aims to eliminate barriers and provide companies with access to a more diverse talent pool. Apprenti, known for adapting apprenticeships to address talent and diversity gaps, will leverage Pluralsight One’s technology learning solutions. Participants will receive quality training, transition into full-time employment, and build their careers. The apprentices begin with an instructor-led academy on Pluralsight Skills, meeting Department of Labor apprenticeship standards. The training costs will be covered by Apprenti through the Good Jobs Challenge Grant.
The Changing Workplace
Canada is planning to introduce a new digital nomad visa, ?? allowing foreign nationals to work remotely within the country for extended periods, with potential pathways to permanent residency for certain fields and entrepreneurs employing Canadian citizens. The Canadian government aims to streamline work permit processing times to just two weeks and increase the annual visa slots from 1,000 to 3,500. Digital nomad visas are gaining traction globally, with Canada joining an increasing number of countries embracing remote work policies. The introduction of digital nomad visas is reshaping the international labor market, promoting flexible work arrangements and attracting diverse skilled workers to new areas of the world. ?? ?? This move could lead to an influx of remote workers choosing Canada as their base, thereby influencing the country's workforce demographics. Such digital nomad visas might contribute to the normalization of remote work policies globally, potentially influencing labor laws and return-to-office strategies.
The recent U.S. Supreme Court ruling ??? ?? deeming admission programs at Harvard College and the University of North Carolina at Chapel Hill as unconstitutional has raised concerns about the potential impact on employers' diversity, equity, and inclusion initiatives. Stakeholders, thought leaders, and legal scholars are scrambling to understand whether tangential policies, like Title VII, offer protection to diversity initiatives in spite of the ruling. Joelle Emerson, CEO of DEI consulting firm Paradigm, predicts the ruling may result in executive leadership putting diversity-focused efforts on ice as they reassess their policies to ensure compliance with affirmative action issues, including analyzing employment practices for disparate impacts or discriminatory results. The decision may also have implications for talent pipelines. An amicus brief filed by employers in the Harvard case argued that businesses rely on higher education institutions ?? to recruit and train students who will become future employees and leaders. However, the Supreme Court's ruling may hinder efforts to recruit diverse workforces in the long run. As a result, companies may need to work harder to build competitive workforces, hiring from non-traditional backgrounds, cultivating inclusive cultures, and focusing on retaining and developing underrepresented groups.?
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