Tag: tech

More women in tech can grow the economy

Despite decades of progress towards achieving equality in the workplace, women remain significantly under-represented in emerging tech. The imbalance between men and women in the technology sector is unlikely to be remedied unless organisations, schools and universities work together to change entrenched perceptions about the tech industry, and also educate young people about the dynamics and range of careers in the technology world. This is according to a report issued by PwC’s Economics team.

The report, 16 nudges for more #WomenInTech, analyses the behavioural measures that bring gender equality to emerging tech.

Women currently hold 19% of tech-related jobs at the top 10 global tech companies, relative to men who hold 81%. In leadership positions at these global tech giants, women make up 28%, with men representing 72%.
In South Africa, the proportion of females to males who graduate with STEM-related (science, technology, engineering and mathematics) degrees is out of kilter. Women are underrepresented in maths and statistics (4:5), ICT and technology (2:5), as well as engineering, manufacturing and construction (3:10), according to WEF statistics. As a result, there is a significantly smaller pool of female STEM talent, restricting the potential of South Africa’s technology sector.

Lullu Krugel, Chief Economist for PwC Africa, says: “The technology sector is an exciting, fast-moving sector, but disappointingly many women prefer to steer clear of careers in technology. Part of the reason is the low number of girls pursuing STEM subjects at school and in higher education. Our research shows that unless we change various cultural and behavioural drivers within organisations, the matter is unlikely to be resolved any time soon.”

Economic benefits of advancing female workforce equality
Overall, the lack of female representation in the workforce and especially in leadership positions is a barrier to gender equality. Our economists estimate that if we close the gender gap in both representation and pay gap by just 10%, South Africa could achieve higher economic growth. Our calculations suggest economic spin-offs of an additional 3.2% in GDP growth and a 6.5% reduction in the number of unemployed job seekers. Closing the gender gap also helps to alleviate poverty: low-income households will receive an estimated 2.9% more income than previously. “Enormous economic opportunity lies in promoting gender workforce equality,” Krugel adds.

Although some strides have been made to advance women in tech, more needs to be done. To change the way talent is developed and deployed in today’s world requires the undoing and relearning of age-old thought processes and the formation of new norms and values – especially in the education system and labour market. Maura Feddersen, PwC Economist adds: “Biases are ingrained in our cognitive processes and undoing them is difficult.

“Behavioural measures, or ‘nudges’, are one instrument in our collective toolbox to correct for gender imbalances in education and at work. Nudges change the context in which we make decisions to help us achieve our goals. They can offer low-hanging fruit to promote female representation in emerging tech and establish new foundations for inclusive economic growth.”

Does education hold the key?
The answer is complex and education is one in a multifaceted interplay of drivers that will bring more women into skilled jobs, especially in STEM fields. Cultivating an interest in STEM fields must start as early as possible, at school and in higher education, for example. From an early age, behavioural design can help through de-biasing classrooms, changing how our children are taught, as well as through celebrating counter-stereotypical role models.

Why do we need more women in emerging technology?
Emerging tech is a critical field for women to help shape, as everyday our dependence on the speed and efficiency of new technologies grows. It is notable that in the field of artificial intelligence (AI), a linchpin of emerging tech, women only hold one fifth of executive positions. If only half of the population designs technology, users are missing out on the insights, innovations and solutions of the other half.
Feddersen adds: “Fostering inclusivity, and bringing more women into emerging tech and the workforce in general, will help introduce new viewpoints and ideas to emerging tech.”

16 nudges to advance #WomenInTech
The report outlines some biases and countervailing nudges to assist organisations in the endeavour to correct gender imbalances, with a lifecycle view from school and higher education to hiring, career development and progression.

1. Work and school environments must be designed to moderate risk, as gender differences in risk seeking can bias outcomes. Provide frequent feedback on how well we are doing compared to others. Feedback can encourage the most capable people to participate in competitions and frequent feedback has been shown to encourage women to compete.
2. Furthermore, clues that trigger performance-limiting stereotypes should be done away with. For example, relocate the tick boxes where candidates are asked to select their gender and ethnicity from the beginning to the end of a test.
3. The tech industry boasts many exceptional female leaders. It is crucial to celebrate these role models and bring attention them, especially for girls at a young age. Initiatives in which female maths teachers or engineers, as well as male nurses and primary school teachers speak to schoolchildren can be powerful in the formative years for both boys and girls.
4. Further increase the fraction of counter-stereotypical people in positions of leadership, through quotas or other means, such as targets. While quotas or targets in themselves are no nudge, they can change men’s and women’s beliefs about what an effective leader looks like and address many of the biases that hinder gender equality.
“It is particularly hard for young girls to aspire to what they cannot see – seeing is believing. People need to see counter-stereotypical models for beliefs to change,” Feddersen adds.
5. Students’ attitudes can also be affected by subtle and simple changes. Organisations should consider diversifying the portraits on their walls.
In hiring
6. In the job market, many companies do not harness the full talent pool available. Prevailing gender biases limit both men and women, albeit in different industries. Gendered language in job ads and other organisational communications can ‘sort’ applicants before they have applied. It makes sense to purge gendered language from job ads and other company communications. This is especially important since women consider more factors than men when screening jobs – in particular, cultural fit, values and managerial style.
7. First impressions also matter in recruitment sessions. The importance of relatability extends across various platforms of recruitment activities, from job ads to recruitment events.
8. Furthermore, to unveil real talent, organisations can discover talent using ‘The Voice’ approach. This means circumventing gender and other biases and anonymising the hiring process as far as possible. Various tools in the market, including GapJumpers and Talent Sonar, have shown that blinded applications help companies successfully discover untapped talent.
9. Organisations should use predictive tests and structured interviews to evaluate candidates. Score answers to questions and score immediately after the interview. Furthermore, evaluate candidates in batches. By using comparators, the evaluators’ attention focuses on skills and experience, rather than stereotypes.
10. Ultimately, it is about changing norms. We should apply smarter messaging that celebrates successes in increasing gender diversity. Instead of describing the small fraction of female representation, focus messaging on the large fraction of companies with gender diverse leadership. This idea is rooted in ‘herding’. Descriptive norms, what many are already doing, turn into prescriptive norms, just by virtue of telling people about them. People are more likely to adopt a new behaviour if they know that many others are already doing it.
11. Panel interviews should be discarded: the ideal is independent, uncorrelated assessments, not influenced by what other interviewers think.
12. Gender differences in self-confidence are not only a concern in school and higher education, but also in performance appraisals. Self-assessments should be done away with wherever possible.
13. Research suggests that women are less likely than men to negotiate on matters such as compensation. Given the negotiation dilemma women face, external legitimisation helps them overcome the hurdle to negotiate compensation. Organisations should consider inviting team members to speak up and explicitly invite negotiations.
14. Legitimise negotiations through enabling people to negotiate on behalf of others.
15. The relative numbers of socially and culturally different people in a team can be critical in shaping a team’s dynamics. In teams dominated by one social group, members of the minority group can be tokens among peers. As a result, they may be unable to contribute their full potential. Organisations should include a critical mass of women in teams to avoid tokenism. Both ability and diversity are required to maximise collective intelligence.
16. Same-sex networks are also particularly important for women due to the relative scarcity of female role models.

Building the workforce of the future
Nudges are powerful weapons in an organisation’s armoury to advance female representation and achieve workforce equality. Feddersen adds: “Organisations can embrace insights from behavioural design through fostering a culture of data collection. Armed with data, organisations can measure which initiatives work and which do not.
“If we believe the future lies in STEM, we must train ourselves, and our daughters, in the relevant skills. Whatever our profession, let us rethink the way we apply our capabilities in light of the future of work.”

By Jason Del Rey for Recode

With a stock price that has increased 135% over the last five years, Home Depot remains one of the few giant brick-and-mortar retailers to find success in the age of Amazon.

Now, the $200 billion home improvement retailer is going on the biggest technology hiring spree in its history to try to maintain that edge.

Home Depot plans to add more than 1 000 new hires to its technology teams in 2018, the company will announce on Wednesday, to support an $11 billion multi-year investment plan to extend its lead in brick-and-mortar retail over competitors like Lowe’s and fend off increased competition from Amazon and other online players. The company has approximately 2,800 employees in technology roles today.

The hires will span roles such as software engineering, user experience design, network engineering and product management, and be located predominately in the company’s Atlanta, Austin and Dallas technology offices, the company said.

They mark the onset of an $11.1 billion strategic plan, first announced in December, designed to improve Home Depot’s online shopping experience, expand its warehouse footprint to speed up deliveries, and make improvements to its stores to help customers find items quicker and check out faster. Recode reported in December that Home Depot had weighed an acquisition bid for the $9 billion logistics company XPO to beef up its shipping and delivery capabilities.

Matt Carey, Home Depot’s chief information officer, acknowledged in an interview that the hiring numbers might not compare to those of the leader in U.S. online retail, Amazon. But they mark an increase of more than a third for Home Depot’s technology staff, and Carey said he’s confident the company’s current plan is a differentiated one.

“I don’t run their roadmap; I run my roadmap,” he said of Amazon in an interview with Recode. “The roadmap we have is one our customers are encouraging us to go execute on. I’m not limited by anything other than time right now.”

Source: Business Matters 

Employees needed 42 hours each to familiarise themselves with their latest software with nearly three quarters of office workers are using photocopiers and nearly half still using fax machines proves paper-reliant office is far from dead.

According to new research from serviced office specialist Workthere, the average UK worker is wasting 50 hours a year as a result of failing technology in the office, which Workthere estimates could result in an £11 billion loss for UK businesses, based on employment data from the ONS.

In particular, the next generation of office workers, those aged between 16 and 24, struggle most with outdated tech, wasting 62 per cent more time every week on inefficient technology compared to their colleagues that are aged 55 or over.

The survey of UK office workers, commissioned by Workthere and carried out by independent research company CensusWide, also found that it took around 42 working hours for an individual office employee to fully familiarise themselves with each new piece of software, which Workthere estimates equals around £830 worth of a professional employee’s time.

With businesses having introduced an average of four pieces of new software over the past three years, 45 per cent of workers claim that despite their employers’ investment in new technology, they don’t invest enough time into training staff to use it properly.

Cal Lee, founder of Workthere, commented: “With regards to the serviced office market in particular, the first thing we are asked about, after the cost, is what specification of technology will be available for a business to use. The office tech inventory can affect profits as well as play a vital role in the perception of a business, both internally and externally. Gone are the days of just ‘location, location, location’ – in the eyes of office workers, digital connectivity tops the list of innovations that will improve the office working experience in the next few years.”

HTML tutorial
Workthere found that office technology can have a direct impact on employee performance and efficiency, with many employees believing that their company’s investment into its office technology is linked to its investment into staff welfare and how it conducts business. The survey results showed that almost half of respondents said a business with cheap office technology is probably not going to invest in the wellbeing of its staff.

In addition, 24 per cent indicated that they wouldn’t be prepared to do business with companies that do not have the most up-to-date office technology.

While the research shows that the paper-reliant office is far from dead, with 73 per cent of office workers using photocopiers and 42 per cent fax machines, it also shows that 42 per cent of respondents use cloud technology for file sharing and 36 per cent have video conferencing capabilities.

Lee continues: “The digital revolution is clearly taking a firm grip of office spaces. We found that connected technology is by far the number one technology that office workers deem most useful to improve the way they work in the next five years, with voice activated tech and wireless charging pads taking spot two and three respectively.

“Whilst different businesses will have different priorities, office tech that works efficiently and improves productivity without proving a distraction, or making staff anxious about using it, is definitely high on the agenda for both staff and employers. It is therefore increasingly important for businesses to know that their office spaces are able to facilitate a smooth tech experience.”

Source: Business Matters

Tech costs ‘likely to rise’ in SA

Information technology (IT) hardware is likely to become more expensive in SA because of the weak economy and rand, according to Mark Walker, associate vice-president for sub-Saharan Africa at the International Data Corporation.

“SA is looking at a growth rate of 0.7% to 1.5% [in 2018]. Many organisations are pricing this weak economy into their discussions as it means that hardware and imported equipment will be more expensive.

“There are also murmurs around adding VAT to petrol and potential increases in taxes, so the technology sector could very well be an easy target from a tax point of view.”

As a result, IT was expected to become more expensive, particularly hardware, and this was likely to prompt “an acceleration into cloud-based computing”, Walker said.

Further, if the outcome of the ANC’s elective conference was not well received, the market would weaken further and this would further fuel the rise in IT costs.

Innovation and investment could be affected by the lacklustre economy, he said. “We have started seeing a trend emerge where you have individuals and organisations innovating locally, but then taking those ideas overseas because they are not able to unlock investment in the local market.”

However, a favourable elective conference outcome would be a boon for the local IT sector.

“The perception that SA is back on track could herald in a period of release of pent-up demand, investment spend on innovation and rolling out the infrastructure to enable broadband in rural areas, fibre and others that SA gravely needs.”

Source: eNCA

The end of the age of e-mail

E-mail and I were born at roughly the same time, and like me, it’s beginning to show its age.

ARPANET contractor Ray Tomlinson is credited with sending the first mail – to himself – around 1971. He can’t even remember what it said. “Most likely the first message was QWERTYIOP or something similar,” he’s been quoted as saying.

Tomlinson’s innovation was to allow mail to be sent to users of computers on the ARPANET; he also chose the ‘@’ sign. Forty-six years later, we’re still @ it, but some bad habits, especially in organisations, seem to have crept in along the way.

Such as checking your mail. Too often.

Or using your inbox as a planning tool.

Or using e-mail as a substitute for the telephone.

And don’t even mention the tyranny of the out-of-office reply.

By some estimates, we spend a quarter of our day dealing with e-mail, and what with all this time spent on it, it still sort of works, such as when the boss sends out a company-wide announcement, or you need to communicate with clients.

E-mail is indiscriminate. Because it’s the de facto means of communication, everything is included, and it’s only after a healthy dose of deletions that you can really get down to work. Not to say a WhatsApp group is any better; there always seems to be at least one loudmouth.

But e-mail doesn’t work very well when you have a large number of people attempting to get something done, and this is where the tools known as workstream collaboration (WSC) come in. Here, communication is based around a task, which cuts the noise to a steady hum of productivity.

According to Gartner, this market is going to achieve a compound annual growth rate of 96%, reaching about $4 931 billion by 2021, up from about $171 million as of last year.

According to the research house, WSC creates a ‘persistent, shared, conversational workspace that assists teams with initiating, organising and completing work’. All this is achieved through messaging, alerts, activity streams and content sharing, among other things.

It’s not going away

But that still doesn’t mean that e-mail is dead, even if many WSC vendors will have you believe it.

E-mail, says Gartner, still represents the standard – though inefficient – channel for fulfilling work.

“Even if WCS tools are widely adopted, Gartner believes e-mail will continue to be a mission-critical application.”

Muggie van Staden, the MD of open source solutions provider Obsidian Systems, says everyone is getting too much e-mail, and there are more effective ways of communicating. “There’s going to be a movement soon where people are going to stop replying to e-mails, and say, ‘If you’re not connected with me on other platforms, don’t expect a reply’.”

Van Staden’s company is a solutions partner for Atlassian, which makes collaboration tools for, among others, software developers.

Since its beginnings in 2001, Lisa Schaffer, Obsidian Systems’ principal Atlassian consultant, says Atlassian has ‘eaten its own dogfood’, and they ‘understood the pains customers would have gone through’. These customers are most of the big banks and insurance companies, as well as business, finance and marketing teams. Even stockbrokers are all using the software, says Schaffer.

Companies that use Atlassian tools also end up sending fewer e-mails, she says. “You’re all working in the same space, chatting about the same things. With (another Atlassian tool) HipChat, you can quickly spin up a room and talk about the day-to-day operational stuff without having to send an e-mail.”

Earlier this year, Atlassian bought Trello, a project management app, for $425 million.

Mail trail

Schaffer says when she’s training people to use Atlassian, she suggests they use Jira, because there’s an audit trail.

“For every conversation you have around a piece of work, it will be kept within that piece of work.” This means people aren’t searching their e-mail inbox, trying to fi gure out where the mail trail started.

“If somebody changed the subject header, all of a sudden, that mail no longer belongs to that group of mails.”

Schaffer says e-mail isn’t dead, “but our clients are moving away from e-mail as a form of collaboration. They’re using tools to collaborate.”

E-mail, too, is useful for external communication, such as when a customer wants information about a product, or when you’re dealing with suppliers.

Before sending a mail, Schaffer says she’ll first go to a company’s website to see if she can find the information she’s looking for.

“I don’t think South Africa has caught on to the fact that your website is now your reception area. And if more people spent some money and time getting their websites up and running, that would reduce the amount of e-mails and phone calls they’d get.

“We’re into an age of self-service, but some people are in denial.” Schaffer says companies are realising that they can’t take a whole year to deliver value.

“My customers want value now. We live in a society of instant gratification. This is why agile is such an important part of software development because you can deliver a portion of value to your customers. They may not have the entire Ferrari, but at least they can look at the body.”

Nick Bell, the CEO of Decision Inc, a management consultancy, says increasing clients’ productivity has been a big part of their business this year.

Organisations create a lot of communication, says Bell, and if they’re able to simplify it using technology, “it generally makes it a thousand times easier for the person on the other side who has to engage the process?”

Even going on holiday becomes stressful because you know that you’re going to come back to 500 messages.

There’s also the assumption that everything needs to be done quicker, because ‘we’re a lot more impatient than we were historically’.

“Instant access and speed have become a very big part of everybody’s conversation about their business.”

Bell says Decision Inc still uses e-mail, and it’s still a large part of client communication. Some teams use Slack, and when the company moves to new offices in January, they’ll be using Skype for Business. It also makes use of WhatsApp groups when running large projects with clients, because this means more people can get visibility into the job at hand.

If you’re fortunate, the nature of work is also becoming more collaborative.

“In the old days, everyone was locked in their office with the door closed. Now we want teams near one another, so rather than the traditional inefficiency of sending an e-mail and waiting for a response, you can collaborate and communicate with the person and get the answer immediately.”

Bell says many people are overwhelmed by the number or e-mails they get every day.

“Even going on holiday becomes stressful because you know that you’re going to come back to 500 messages.

“We’ve got to get out of that particular way of working.”

By Matthew Burbige for Brainstorm

In early October, Cape Town GetSmarter concluded a $103-million (R1.4-billion) sale to US-based technology firm, 2U, making it one of the most valuable start-ups in the South Africa’s history.

The deal, which is believed to be the biggest ever for a South African edtech company, was first announced in May, and further bolsters Cape Town’s position as a leading technology hub in the country.

As not all sale prices are reported directly, it is difficult to say exactly how GetSmarter fits in compared to South Africa’s other most valuable start-ups, but it appears that the record still belongs to Mark Shuttleworth’s Thawte which sold for $575 million in 1999.

This is also the closest the country has come to having its own “unicorn” evaluation – a company valued at $1 billion, according to Jason Levin, author of a June report on the state of start-ups in the country.

“The total value of all the tech and innovation startups in Joburg and Cape Town together, is about $1.5 billion: a similar size to Melbourne’s, smaller than Lagos’, and half the size of Sao Paolo’s, said Levin.

He confirmed that Mark Shuttleworth’s Thawte is the start-up that has come the closest (its 1999 price tag of $575 million equates to about $850 million in modern money).

However South Africa has also lost out on start-ups which have chosen to move their business out of the country, said Levin.

“Mimecast, founded by South Africans Peter Bauer and Neil Murray, is a unicorn with a current market cap of $1.2 billion – but was created in 2003, a year after the pair left the country.”

BusinessTech looked at some of the other companies which have come close to this “mythical” evaluation.

Thawte – $575 million (sold in 1999)

While perhaps best known as the first South African in space, Mark Shuttleworth first made headlines for his 1999 sale of online security firm, Thawte, to Verisign for $575 million.

Run from Shuttleworths parent’s garage, Thawte was originally aimed to produce a secure server not fettered by the restrictions on the export of cryptography which had been imposed by the United States.

Using a “web of trust” model, Thawte would issue free email certificates, while the person’s identity was assured by meeting face-to-face with one or more “Thawte Notaries” who needed to see identification and keep a copy of it.

Kapa Biosystems – $445 million (sold in 2015)

Kapa Biosystems, co-founded by Trey Foskett, Paul McEwan, Ron McEwan and Chris McGuinness in 2006, pioneered the use of directed evolution to develop a suite of high-performance reagents for a range of life science applications

Their products are used by thousands of scientists around the world and cited in more than 4,000 peer-reviewed publications.

They are continuing to develop innovative solutions that accelerate genomics research that can impact the future ability to diagnose, monitor and treat cancer and complex inherited and infectious diseases.

Kapa Biosystems was bought by Roche, a Swiss multinational healthcare company, for $445 million in 2015.

GetSmarter – $103 million (sold in 2017)

GetSmarter provides short, competency based online courses to working professionals around the world in collaboration with leading universities.

Founded by brothers Rob and Sam Paddock, 2U entered an agreement to acquire the startup for approximately $103 million, with an earn-out payment of up to $20 million in cash.

It has served more than 50,000 students since inception, with course completion rates averaging 88%.

GetSmarter’s portfolio includes over 70 courses offered with its university partners, and operates under a revenue share model with the universities.

Fundamo – $110 million (sold in 2011)

Fundamo’s platform enables the delivery of mobile financial services to unbanked and under-banked consumers around the world—including person-to-person payment, airtime top-up, bill payment and branchless banking services.

The company’s vision is for a truly connected financial services ecosystem that supports the ubiquity of mobile devices.

Fundamo had some 50 deployments in over 40 countries, including 27 countries in Africa and the Middle East and another 10 globally.

Prior to its sale, Fundamo was privately held by a group of investors in South Africa that included Sanlam, Remgro Limited, and HBD Venture Capital.

Nimbula – $110 million (sold in 2013)

In March 2013, Oracle announced it has agreed to acquire Nimbula, a provider of private cloud infrastructure management software.

Nimbula’s technology helps companies manage infrastructure resources to deliver service, quality and availability, as well as workloads in private and hybrid cloud environments.

It was founded in late 2008 by Chris Pinkham and Willem Van Biljon, who had developed the Amazon Elastic Compute Cloud (EC2).

Source: Business Tech

Gmail add-ons launched

Google has launched Gmail add-ons, a new way to work with business apps in Gmail.

Gmail add-ons make it possible to use apps within Gmail, removing the need to toggle between your inbox and other apps.

“With Gmail add-ons, your inbox can contextually surface your go-to app based on messages you receive,” said Google.

Google said that because add-ons work the same across web and Android, you only need to install them once to access them on all devices.

“Click the settings wheel on the top right of your inbox and then Get add-ons to get started.”

Source: MyBroadband

Office tech fails cost nine working days a year

UK workers are losing on average nine working days due to technology failing around the office, a new survey by Ebuyer.com has revealed.

The survey of UK office workers, conducted by the UK’s largest independent online tech retailer, revealed that one in ten workers wastes up to 30 minutes a day due to technology not working in the workplace, with the average time lost totalling 15 minutes and 17 seconds.

With 253 working days in 2018, this totals over nine working days being lost next year – a staggering number, especially for small businesses.

Workers in the legal sector lost the most amount of time each day due to technology issues, spending an average of 17 minutes and 10 seconds waiting for issues to be resolved. Those working in the IT industry lost on average 17 minutes.

Engineering and manufacturing workers also featured in the top three, losing on average 16 minutes, 44 seconds.

The industries that saw workers lose the most time due to office tech fails were:

• Legal (17 minutes, 10 seconds).
• Information technology (17 minutes, 2 seconds).
• Engineering and manufacturing (16 minutes, 44 seconds).
• Recruitment and HR (16 minutes, 26 seconds).
• Marketing, advertising and PR (15 minutes, 59 seconds).
• Accountancy, banking and finance (15 minutes, 40 seconds).
• Property and construction (15 minutes, 28 seconds).
• Healthcare (15 minutes, 23 seconds).
• Teaching and education (15 minutes, 9 seconds).
• Public services and administration (15 minutes, 8 seconds).

In an ever increasing digital world, it is no surprise that internet connectivity issues was the most common tech fail in UK offices, with 44% of workers claiming this has affected them in the last six months.

Computers and laptops crashing was the second most common tech fail (41%), followed by the printer breaking (40%).As businesses look to implement measures throughout the company in line with GDPR, which comes into effect from May 2018, a worrying amount of workers claim they have accidentally sent an email to the wrong person (15%), with a further 7% losing time at work due to the work system being hacked.

Over 6% of workers have accidentally clicked on a spam email – a sure fire way to cause a headache for the company’s IT team.

Dave Jones, product buyer at Ebuyer.com, said: “The research we conducted has revealed some really shocking figures. Over nine working days lost to technology is sure to have a huge impact on businesses, especially small businesses and start-ups.

“Making sure that technology is regularly updated will stop issues with computers regularly crashing, and having systems backed up on servers should keep time lost to a minimum. Keeping equipment around the office updated and replacing old and slow technology may cost in the short term, but the time saved will soon balance this out.

“Keeping office supplies stocked is also a quick and easy way to keep time lost to a minimum, as over one in seven (13%) workers lost time in work due to the printer running out of paper.”

By Nick Ismail for Information Age 

Is tech just for boys?

The gender stereotypes of parents and teachers play a large role in putting young girls off careers in science, technology, engineering and maths (Stem) careers, a study has found.

The study found 53 per cent of girls in secondary school drop Stem subjects due to pressure from parents. Two thirds of girls surveyed (65 per cent) said their parents and teachers were the main influence over what subjects and career choices they made.

One third of parents and teachers (29 per cent) polled said they view Stem subjects and careers “as more closely fitting boys’ brains, personalities and hobbies”.

When discussing attitudes to science and tech careers, 82 per cent of girls said they wanted a career where they could help people, and did not see how a future in a Stem field could achieve that.

The research found the more extra-curricular Stem events or school day trips girls attended, the more likely they were to take at least two Stem subjects at Leaving Cert level such as science subjects or technical graphics. Out of girls who attended three or more Stem events or trips, 30 per cent chose to do two or more science or technology subjects for their Leaving Cert.

Minister for Education Richard Bruton said the research provided “much-needed insight into the under-representation of girls and women in Stem education and careers”.

He said addressing the lack of women and girls in science, engineering, tech and maths fields was a priority to be addressed.

The research involved 3,000 Irish students, parents and teachers who were questioned earlier this year. The survey was carried out by consulting firm Accenture Ireland and iWish, a Cork-based advocacy group involved in encouraging young girls to enter science and tech fields.

Co-founder of iWish Ruth Buckley said the research “points to the significant role that teachers can play as a gateway to Stem careers”. She said that “giving teachers and girls knowledge, information and access is key, we cannot leave girls’ inclusion to chance, we need to have a consistent and systematic focus on Stem through our education system”.

The report made several recommendations on how to increase the engagement of young girls with Stem careers. These include helping parents educate themselves on the subjects, and providing additional training and information to teachers on Stem careers so they can better inform students about potential opportunities in the field.

Source: www.irishtimes.com

South Africa can expect at least three big new banking options within the coming months – all of which will be entering a highly competitive market.

A poll conducted in August by BusinessTech, generating over 10,000 responses found that Capitec is far and away the bank most South Africans would switch to, garnering 44% of the votes.

Capitec said recently that it has added 400,000 customers since February 2017 to become the second biggest bank in the country by this metric.

Its success has forced South Africa’s other banks to compete more effectively, and has led to Absa and FNB in particular to launch entry-level accounts that target Capitec’s market approach.

However, Capitec will soon face stiff new competition of its own, through Patrice Motsepe’s Tyme which promises to cause ‘disruption’ of its own through a digital play.

Tyme joins insurance giant Discovery, which also plans to launch a commercial bank, while government has plans for a retail offering of its through the South African Post Office – all of which are expected to launch sometime between now and late 2018.

Each offering brings with it unique features which could entice customers from the current “big five”.

Tyme

Billionaire Patrice Motsepe made headlines last week after he announced that he was set to challenge South Africa’s biggest banks with investment company African Rainbow Capital (ARC) close to securing a banking license.

Tyme was granted a provisional license by the South African Reserve Bank in 2016, with Johan van der Merwe, co- CEO of African Rainbow Capital stating that the company expected a full licence before the end of September.

“The South African banking environment is due for a bit of disruption,” said van der Merwe.

“While Capitec has been able to play that role, the soon-to-be-licensed lender will be a disruption over and above that. This will be a complete game changer.”

“The regulator is looking at the cloud-based system that ARC’s fintech partner is using to make sure it works before granting a full licence,” he said.

Tyme is reportedly signing up 5,000 new customers each week, following the Commonwealth Bank of Australia’s acquisition for a reported AU$40 million.

Arguably, Tyme’s biggest asset is its in-house developed “know your customer” KYC accreditation solutions.

These allow customers to open a simple bank account over their mobile phone, and open an unrestricted bank account from a remote location instead of having to enter a bank branch.

This form of unrestricted account access and cloud-based solutions is likely to tie-in with African Rainbow Capital’s July announcement that it invested in 20% of fixed and mobile data network operator Rain.

Discovery

In March 2017, Discovery said that it had received authorisation from the Registrar of Banks to establish banking operations in South Africa, and is on track to launch its banking products next year.

Discovery CEO, Adrian Gore first announced plans for a retail bank in 2015, and stated that it would act as a direct competitor to Absa, FNB, Nedbank, Capitec, and Standard Bank.

The insurer has reportedly seen great success with its Discovery Card joint venture with FNB, which would provide a launch pad for full banking services.

“We’ve got the capital, we’ve hired bankers, we’re building substantial systems. We want to make an offering that’s relevant and can win market share,” said Gore.

Discovery has an advantage over the big four traditional banks, as it does not have to maintain a country-wide network of branches and ATMs. This means Discovery Bank’s costs have the potential to be lower than its competitors.

Former FNB CEO Michael Jordaan also believes that the technology available to Discovery could make it a major disruptor in the financial sector as it uses its vast resources and lower cost base to offer clients lower banking fees and better interest rates.

The South African Post Office

While not as eye-catching as Tyme or Discovery, the South African Post Office (SAPO) could prove to be a large disruptor in the financial sector because of its ease of accessibility.

Speaking at the World Economic Forum in May, telecommunications minister Siyabonga Cwele said that the Post Office’s transition into a development bank will be government’s first big step in “radically transforming the financial sector and challenging the current banking institutions”.

“It’s not going to be a normal bank like the big four. It’s going to be a developmental bank to deal with the market that is not being served at the moment,” said Cwele.

He added that, despite the higher risks involved, the Post Office will also look at funding entrepreneurs with small loans.

“We are going to need a very strong risk management system. The issue of financial inclusion is part of radical economic transformation. We are not talking about reckless access to finance.”

Current SAPO CEO Mark Barnes will likely head up the new bank, which is expected to become a fully-fledged consumer bank sometime in 2018.

The bank could also be bolstered massively should it acquire the rights to distribute social grants to over 17 million South Africans from SASSA.

Source: BusinessTech

  • 1
  • 2

Follow us on social media: 

               

View our magazine archives: 

                       


My Office News Ⓒ 2017 - Designed by A Collective


SUBSCRIBE TO OUR NEWSLETTER
Top