We keep our ear to the ground for the interesting stats, insights and discussion points you need to feel in the know.
1. Force for good
Entrepreneurs have always been agents of change, impacting our lives in big and small ways. But today, their influence goes far beyond just the products and services they create. Many are using their success to drive positive social change. By focusing on empowering employees, some businesses are seeing significant success. When companies invest in their workers, whether through profit-sharing or providing support for personal milestones, it fosters a culture of care and excellence, leading to outstanding results. In the realm of technology, innovations are being harnessed for the greater good. Advanced tools are now enabling quicker responses to critical issues like public safety, while also protecting vital ecosystems around the world. These efforts demonstrate how technology can be a powerful force for social good. As World Entrepreneur Day approaches on August 21st, these three entrepreneurs are proving that success in business can go hand in hand with making the world a better place. Their efforts remind us that with innovation and determination, positive change is possible. So, whose tomorrow will you change today?
2. Game changer or game over?
India’s skill-based online money gaming industry could play a crucial role in making India a US$5 trillion economy by 2025. Yet, the government’s choice to enforce GST (goods and services tax) on the entire sum of money deposited into pay-to-play gaming platforms may have put a damper on the industry’s prospects for attracting investment and fostering growth and job creation over the last year. Companies are finding it tougher to get their hands on funding, and their profits are getting squeezed. Since the tax hike, some gaming companies have seen their revenue growth stall, with 58% of them either not making any more than before or earning less – including a couple that saw their revenue halved. Where do we go from here? This report suggests that policymakers tweak the tax approach to focus on the Gross Gaming Revenue. That’s the piece of the pie the gaming platforms keep for running the show, rather than the whole pile of deposits. It’s a change that could really level up the entire gaming industry in India…
3. In the shadows
Chief Information Officers (CIOs) are in a tight spot, facing the tricky task of harnessing AI while navigating the risks of unchecked experimentation. It’s a bit of a Wild West out there, with MIT research spotlighting the perks for the early birds, yet most wins are confined to small-scale test runs. Enter «shadow AI,» a term coined by EY Global Consulting AI Leader Dan Diasio. This unchecked growth can lead to a minefield of issues around trust, bias, and security, not to mention the headache of scaling these projects for the big leagues. Companies fixated on quick fixes risk missing the big picture: leveraging AI for a full-scale revolution. The smart move? A top-down strategy, cultivating a culture that maximizes AI’s potential and promotes responsible use. CIOs, it’s your move to steer this ship right — here’s how…
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4. AI’s night shift
As tech giants race to meet the soaring demand for smart, sustainable data solutions, New Zealand is emerging as a potential powerhouse. With AI’s appetite for energy doubling in just four years, the hunt for eco-friendly data centers is on. Did you know that training a single large language model can use as much electricity as 1000 households use in an entire year? And that a ChatGPT text search consumes around 10 times the power of a Google search, while creating just two GenAI images can soak up as much energy as a full smartphone charge. But here’s where New Zealand shines: boasting a power grid that’s 87% renewable and set to hit up to 98.3% by 2050, it’s a climate commitment dream. Plus, its cool climate and ample water supply make it ideal for energy-efficient cooling. Sure, distance can be a hurdle for real-time AI responsiveness, but it’s a small trade-off for greener computing. Picture this: while the world sleeps, New Zealand’s data centers could be the night-shift workers, training the AI of tomorrow. It’s time to think big and green—New Zealand could be the key to powering AI’s future sustainably…
5. Food for thought
There’s a storm brewing on the horizon, with disruptive forces ready to toss the food system into uncharted territory and change the way the world consumes food. Predicting these changes is like trying to solve a mystery with half the clues missing, but that’s exactly what companies need to tackle. Energy sources are shifting towards sustainability, protein is being reimagined, and geopolitical landscapes are as unpredictable as ever. These disruptive trends will be accelerated by social, economic and political pressures, including the growing importance of sustainability, lingering fallout from the COVID-19 pandemic, convergence within the global food industry and adjacent sectors, changing customer demands and technological innovation. These changes are stirring up the entire food supply chain, pushing companies to rethink their game plans. How will we fuel the future? How will we feed the future? Here’s how organizations can stay competitive…