Daily Archives: March 31, 2021

After weeks of rumors, Xiaomi officially confirmed that it is making a foray into the electric vehicle space. The Chinese smartphone and IoT giant will set up a wholly-owned subsidiary to operate a smart EV business, the company said in a filing on Tuesday.

Xiaomi will inject an initial 10 billion yuan ($1.52 billion) into the venture with the total investment amount to reach $10 billion over the next ten years. Xiaomi founder and CEO Lei Jun will serve as the CEO of the new EV venture.

Its unclear from the filing whether Xiaomi will sell cars under its own household brand and contract manufacturers to take care of production, as it has done for most of its hardware devices. The company has long billed itself as an internet firm with a light-asset business model. The goal is to generate a chunk of its profits by selling services powering a myriad of price-friendly hardware products it sells.

A representative from Xiaomi said the company has no further detail to provide beyond the filing.

Xiaomi is the latest Chinese tech company to enter the red-hot EV industry. Chinese search engine giant Baidu recently announced in January that it would be making EVs with the help of automaker Geely.In November, Alibaba and Chinese state-owned carmaker SAIC Motor said they had joined hands to produce electric cars. Ride-share leader Didi and EV maker BYD are also co-designing a model for ride-hailing.

The internet behemoths are competing with a raft of more specialized EV startups such as Xpeng, Nio and Li Auto, which have already debuted multiple models and are often compared to Tesla. They strive to differentiate from each other by investing in functions from in-car entertainment to autonomous driving.

For Xiaomi, the obvious advantage in making cars is its vast retail network and international brand recognition. Some of its smart devices, such as smart speakers and air purifiers, could be easily incorporated into its vehicles as selling points. The real challenge, of course, is in manufacturing. Compared to phone making, the automotive industry is more capital-intensive with a long and complex supply chain. We will see if Xiaomi will pull it off.

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Xiaomi joins the ranks of Chinese tech giants to work on EVs - TechCrunch

China has pushed hard to be self-sufficient in semiconductors, and state-backed chip firms have raised huge sums. But Beijings ambitions will ultimately depend on the countrys vibrant private sector, too.

Chinese leaders have listed advanced semiconductors among the core technologies they view as choke points vulnerable to foreign pressure, a problem clearly demonstrated by the Huawei saga. China isnt able to produce the highest-performing chips, and it cant do so without American technologies, in particular in chip-making equipment and design software.

The government has poured billions into the sector, set up national chip funds and provided tax credits for semiconductor companies. Over 50,000 new Chinese companies related to semiconductors were registered in 2020, more than triple the 2015 number. Chinas leading chip maker, Semiconductor Manufacturing International Corp. , said this month that it would spend $2.35 billion to build a foundry in Shenzhen with the citys government.

One consequence is plenty of wasted capital. A recent case in point: Hongxin, a rising star in Wuhan with backing from the local government, has run out of money. Many Chinese companies will suffer similar fates, but a handful may end up achieving some breakthroughs, as they did in solar panels and electric vehicles. It will likely take much longer to catch up in chips, though, given that key technologies are firmly held outside the country.

Importantly, it isnt just lumbering state firms that are behind the effort. Private companies that buy large quantities of chips also have an incentive to fund domestic suppliers, given rising geopolitical tensions.

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Chinas Tech Giants Have Chip Ambitions, Too - The Wall Street Journal

What once looked like a three-horse race for dominance in the cloud computing world, led by Amazon Web Services Inc., Microsoft Corp. and Google LLC, is quickly evolving into a much fuller field.

The competition is being driven by the emergence of more traditional tech players seeking to abstract away infrastructure headaches through automation and tightly packaged solutions, with the added attraction of consumption-based pricing for a hybrid computing model.

Thats the basis for what companies such as Hewlett Packard Enterprise Co., Dell Technologies Inc., Oracle Corp. and IBM Corp. are offering through software and infrastructure-as-a-service solutions. Enterprise cloud is becoming a consumer-like experience, and the lines are blurring. Spin it up, spin it down and pay only for what you need.

Over the last 10 years, weve found ourselves defining whether an environment was public, private or hybrid,Jo Peterson, vice president of cloud and security services at Clarify360 Inc., said in an interview with theCUBE, SiliconANGLE Medias livestreaming studio, during HPEs recent GreenLake Day event. The labels are disappearing. Cloud is infrastructure, and infrastructure is cloud. Customers are consuming cloud in the best way that works for their businesses.

What this means for the companies involved is that the next year could see a significant battle for compute market share as price competition intensifies when major industries grow used to paying by the drink.

HPE introduced GreenLake as a cloudlike as-a-service infrastructure with a number of workload support options in 2017, leading Chief Executive Antonio Neri to declare that the firms portfolio would be completely as-a-service by 2022.

In 2019, Dell rolled out its pay-as-you-go infrastructure program and then doubled down last year with the introduction of Project Apex, an alignment of different product and portfolio offers through a consumption-based pricing model.

Perhaps the loudest statement behind the case for as-a-service, consumption-priced delivery of cloud and infrastructure management solutions came in October, when IBM announced an entirely new company based on this model.

The yet-to-be-named new IBM business would provide infrastructure and a full suite of management services that the company already offers through its Managed Private Cloud IaaS. These services are sold based on billing for what is actually consumed. IBM sees this new company embracing a $500 billion business, according to its own estimates.

The jockeying by these major technology solutions providers provides a subplot for the main story. While pricing matters, workload flexibility is where the real action plays out.

Pricing starts the conversation, but often thats not the most important part,Ezra Gottheil, principal analyst at Technology Business Research Inc., said in an exclusive interview with SiliconANGLE. Its flexibility. What these vendors are saying is: You get all of these goodies without going to the cloud.

Oracle just raised the ante in this high-stakes infrastructure and consumption game with a string of updates for its Autonomous Data Warehouse offering. The latest releases offer faster, simpler data loads, autonomous machine learning models and quicker time to insights.

Oracles moves show a clear focus on end-user capabilities, reaching out to developers who hold a keen interest in abstracting away complexity when it comes to managing data models and conserving company resources for the projects that really matter.

Oracle is trying to democratize the use of data warehouses, said David Floyer, chief technology officer at SiliconANGLEs sister market research firm Wikibon. It is pushing out to the lines of business, and its simplifying things. Oracles approach means that all data movement happens internally. Its Oracle thats doing that work for you, and as you grow, that becomes very, very important [in terms of] cost-saving.

Not to be ignored is that Dell, HPE, IBM and Oracle all have a significant installed base and robust channel partner networks to sell services. While the three major cloud providers are making their own as-a-service plays, competition from the major tech industry players will be hard to ignore.

What customers want is solid, serious senior advice as to how they leverage what they already have in terms of their existing infrastructure,Harry Zarek, president of Compugen Inc., said during an interview with theCUBE. But they want to modernize and update it so it looks and feels a lot like the cloud.

Then there is the ultimate disruptor:Snowflake Inc. Built on the public cloud, Snowflake automates its share of the data flow by abstracting complexity related to latencies, bandwidth and time to query while leveraging the stack to generate insights regardless of where the data resides.

Snowflake has managed in less than 10 years to upend the natural order of business competition. The company is not only one of the cloud providers major customers, it is one of the biggest competitors as well.

Snowflakes largest cloud partner is AWS, accounting for a respectable portion of Amazons EC2 business. But AWS has its own enterprise data warehouse product, Redshift, which makes it a direct competitor. Snowflake also does business with Microsoft and Google, yet IT spending data from last year continues to show that Snowflake has greater momentum for data warehousing than all three of the big U.S. clouds.

You have this weird dynamic because Snowflake doesnt run on-premises; it only runs in the cloud,Dave Vellante, co-founder and chief research officer at Wikibon and host of theCUBE, said in an analysis of Snowflakes market. The cloud players all want your data to go into their database, and they push hard on customers to use captive services. At the same time, they need ISVs like Snowflake to run in their clouds because it sells infrastructure services, expands customer optionality and evolves the ecosystem.

With a global pandemic accelerating digital timetables for many businesses in 2020, the need for as-a-service infrastructure and a cost model tailored for an uncertain economy has appeal. The major cloud players suddenly find that the conversation has shifted and the competitive landscape now looks a bit different than it appeared one year ago.

The pandemic has brought forward a need to accelerate our customers digital transformation, their modernization efforts and help them solve a bunch of new business problems, said Keith White, senior vice president and general manager of HPE GreenLake, during a recent interview with theCUBE. The world is hybrid, and the world is multicloud. So customers are expecting these solutions. Its being able to do that with the full cloud experience, all in a pay-per-use, fully consumption-based scenario.

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Cloud versus cloudlike: Traditional tech giants gain traction with pricing and infrastructure support - SiliconANGLE News

HP and Apple are among the tech giants fighting against a "right to repair" bill in Nevada. TechNet, a trade group that lobbies for HP, Apple, Honeywell, and other manufacturers of devices, strongly opposed the right to repair legislation in a committee hearing in the Nevada Legislature on Monday. A report from the Associated Press runs through the highlights from the hearing (via iMore).

The hearing in the Nevada Legislature centers around if the government should require companies like HP and Apple to provide access to parts and schematics to independent shops. This would be in contrast to only sharing these with authorized dealers.

Right to repair bills are currently under consideration in 25 statehouses, as highlighted by the AP. They are based in part on an initiative that passed in Massachusetts last year.

The proposed bill in Nevada would apply to consumer electronic devices worth less than $5,000, which applies to almost all consumer phones, tablets, and computers.

Assemblywoman Selena Torres argues that the right to repair devices will help organizations maintain equipment:

Early in the pandemic, a nationwide laptop shortage left millions of students unprepared for virtual learning. As an educator I saw firsthand how families struggled to share one device with several school-aged children. The right to repair will give schools and other institutions the information they need to maintain equipment and empower the refurbished computer market, saving taxpayer dollars and improving digital access.

TechNet's regional executive director Cameron Demetre argues that "unvetted third parties" having access to people's devices creates "the potential for troubling unintended consequences, including serious adverse security, privacy and safety risks."

As a counter to Demetre's point, repair businesses have asked how fixing a battery or the buttons on a smartphone creates a security risk.

"It's changed from being able to do anything you want to repair your computer or printer to 'You can't do anything now,' said Technology Center in Sparks' Curtis Jones. "Everything's changed to being disposable or impossible to repair."

Jones explains that not having access to parts and schematics could lead to people moving to replace devices rather than repairing them. Jones said, "We're going to have landfills so overloaded, we're going to have to start living on top of old printers or computers."

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HP, Apple, and other tech giants want to control who can repair devices here's why - Windows Central

Alibaba founder Jack Ma attends the 5th World Zhejiang Entrepreneurs Convention at Hangzhou International Expo Centre on November 13, 2019 in Hangzhou, Zhejiang Province of China.

VCG | Getty Images

China's dual-listed tech giants Alibaba, Baidu, JD.com, and Netease have collectively lost billions in market value in just days.

The losses come amid the threat of potential de-listings from U.S. stock exchanges.

As of Friday's close in Hong Kong, the market capitalization of the four dual-listed tech stocks have fallen 468.64 billion Hong Kong dollars (about $60.31 billion) in three days, according to CNBC calculations of data accessed through Refinitiv Eikon.

Here's a list showing how much each of the companies, which are also listed in the U.S., lost in terms of market capitalization.

Between Tuesday's close to Friday's close in Hong Kong:

Notable among them is Baidu, China's largest search engine, which made a lackluster debut in its Hong Kong secondary listing on Tuesday. The shares ended flat on the first day of trading.

On Wednesday, the U.S. Securities and Exchange Commission (SEC) adopted a law that threatens to remove companies from the U.S. stock exchanges unless they comply with American auditing standards.

Known as the Holding Foreign Companies Accountable Act, the law was passed by the administration of former PresidentDonald Trump.

Firms identified by the SEC will require auditing by a U.S. watchdog and need to show that they are not owned or controlled by a government entity in a foreign jurisdiction. Companies will also have to name any board members who are Chinese Communist Party officials, the SEC said in a Wednesday statement.

In addition to those regulatory uncertainties, China's tech firms are also facing potential challenges domestically as Beijing tightens its grip on the fast-expanding sector and establishes anti-monopoly laws in financial technology and e-commerce.

Reuters reported earlier this week that Chinese tech conglomerate Tencent's founder met with Chinese antitrust officials this month to discuss compliance at his group.

In a high-profile crackdown last year, the IPO of Ant Group which was touted to be the biggest in the world was abruptly suspended just days before its debut. The billionaire founder of Alibaba Jack Ma is the controller of Ant Group.

Beyond those concerns, the tech sector as a whole globally has also come under pressure as bond yields have risen. Rising yields hurt growth stocks, which many in the tech sector are part of, as they reduce the relative value of future earnings.

Furthermore, as optimism rises over a potential global economic recovery from the pandemic, investors may look to rotate their portfolios away from tech, and into other areas such as stocks that gain as the economy recovers.

CNBC's Arjun Kharpal contributed to this report.

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China's dual-listed tech giants lost $60 billion in market value over three days as delisting threats loom - CNBC

Congress once again grilled the CEOs of Google, Facebook and Twitter in a five-hour House Energy and Commerce Committee hearing last Thursday. The focus this time: misinformation. The Democratic majority called the hearing to delve into the misinformation recently spread on big tech's platforms related to the COVID-19 virus and vaccines, as well as extremist content leading up to the January 6 attack on the Capitol. But the questions asked on Thursday of the big tech CEOs ranged far and wide, covering the many types of threats that tech giants pose to the American public today.

Thursday's hearing provided five key points that can help chart a path forward for those hoping to hold big tech accountable:

1. There is clear bipartisan resolve to take on big tech.

The fact that this hearing was held by the Democrat-controlled House should not be overlooked. Republicans have long been raising the alarm over big tech's abuses, especially the industry's treatment of the Trump administration. Republicans also received the strong support of President Trump to go after Silicon Valley. Senate Republicans held several big tech hearings in the end of 2020. So the fact that Democrats are now holding these hearings is pivotal. This bipartisan agreement means the momentum is there to actually pass legislation to hold big tech accountable.

2. The two parties have differing main concerns around big tech.

While bipartisan agreement about the need for legislation and regulation compelling large tech firms to act in the public interest is key, Democrats and Republicans do not, for the most part, share the same concerns. As evidenced by the title of Thursday's hearing, the Democrats' main concern is the spread of misinformation and extremist content on social media platforms. Republicans, on the other hand, are more concerned by the censorship of conservative voices and speech on big tech platforms. Conservatives also want online platforms to be liable for illicit content, such as online child sexual exploitation, hosted and shared on their sites.

3. One shared concern emerged from both parties: big tech's danger to children.

Although lawmakers were trying to advance disparate agendas, one bipartisan theme emerged from the hearing: the dangerous effects of big tech's services on children. Rep. Cathy McMorris Rodgers (R-Wash.) stated, "Remember, our kidsthe usersare the product. Youbig techare not advocates for children. You exploit and profit off them." Rep. Kathy Castor (D-Fla.) highlighted recent studies on the relationship between hours spent on social media and mental health challenges in youth, noting the rise in youth suicide rates and hospitalizations for self-harm. Rep. Bob Latta (R-Ohio) also highlighted the issue of online child exploitation, sharing the tragic story of a 15-year old girl who took her own life after being stalked and harassed on Facebook. Both sides of the aisle are clearly concerned with how the big platforms use their algorithms "to drive addiction," as well as the role they play "in child grooming and trafficking." This concern suggests a good common ground where bipartisan legislation can begin to rein in big tech.

4. Section 230 should not be repealed, but reformed.

Section 230 was heavily debated in Thursday's hearing. Facebook's Mark Zuckerberg offered his own suggestions for reform measures, which arguably wouldn't affect big tech's behavior but only stifle Facebook's competition. While Democrats and Republicans disagree on the exact reforms needed to fix Section 230, it is clear that repealing the statute entirely is not the answer. Coming to a bipartisan reform agreement could be a long battle, but the perfect must not be the enemy of the good here. Immediate reform is necessary. Congress should look to the Justice Department's September 2020 legislative proposal on Section 230, which was informed by experts on both sides and offers a balanced approach to current issues. Congress needs to come together quickly to pass meaningful reform, because until it does, tech giants will continue to improperly hide behind the current immunities in Section 230.

5. Congress must keep the pressure on. Big tech cannot be allowed to "self-regulate" any longer.

It is clear from Thursday's hearing that big tech cannot be trusted to regulate itself any longer. It's made up of businesses, so profit is the bottom line. Twitter CEO Jack Dorsey tweeted during the hearing, "If we woke up tomorrow and decided to stop moderating content, we'd end up with a service very few people or advertisers would want to use. Ultimately, we're running a business, and a business wants to grow the number of customers it serves." Big tech has no incentive to change its behavior, and it was evident that its leaders believe they are doing enough already in response to Congress's concerns with their internal moderation efforts. Big tech's incentives are simply not aligned with the public interest, so it is time for Congress to exercise its power to legislate and realign those incentives with the best interests of Americans.

Thursday's hearing was a good first step, but Congress must keep up the pressure on Silicon Valley and do the hard follow-up work of passing bipartisan legislation to hold it accountable. Democrats and Republicans in both houses will have to put aside partisan differences and become a united front against big tech. Congress also should look for allies among state attorneys general (many of whom have already initiated joint lawsuits against tech companies) and anti-tech Biden appointees like Tim Wu and Lina Khan. The executive branch and state attorneys general have the power to address anticompetitive practices without congressional legislation. Building a diverse coalition of actors across all branches and levels of government will be key to successfully taking down the Silicon Valley giants.

Clare Morell is a policy analyst at the Ethics and Public Policy Center in Washington, D.C., where she works on EPPC's Big Tech Project. She most recently worked as an adviser to Attorney General Bill Barr at the Department of Justice, where she also served as an editor for the Presidential Commission on Law Enforcement. She lives with her husband and son in Washington D.C.

The views expressed in this article are the writer's own.

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Five Key Takeaways from Thursday's Big Tech Hearing | Opinion - Newsweek

HONG KONG, March 26, 2021 (GLOBE NEWSWIRE) -- Tailor Insight, the fintech market research organization, recently released a research report "WIMI and other Tech Giants Are into the Battlefield while Lidar accelerating the Commercialization of Autonomous Driving while". With the global explosion of the new energy vehicle market, more and more manufacturers have begun to launch smart electric vehicles. Recently, it has been discovered that lidar has become almost the "standard configuration" of the upcoming smart electric vehicles, but Tesla believes that only fools use lidar.

Firstly, from the perspective of the new energy vehicle market in China, 2021 will be the first year of lidar on-board. Car companies such as XPEV US and NEXTEV have announced that they will launch mass production models equipped with lidar this year. Honda, Toyota Lexus, and Great Wall Automobile have all stated that they will mass-produce lidar vehicles in 2021. Although the commercialization of lidar has started as early as 2000, it has not been until recent years that lidar has entered a stage of rapid development with the electrification, intelligence, and driving of the automotive industry.

What is Lidar? The biggest advantage of lidar over other autonomous driving sensors is the ability to accurately model the surrounding environment in 3D. Millimeter-wave radar can measure distances at high speed. Cameras can identify lane lines and speed limit signs, and ultrasonic radar has a short practical detection range and is only suitable for low-speed parking, while lidar can accurately identify targets and detect dynamic obstacles, which is not available in other sensors.

LiDAR is an active measuring device that emits laser light to measure the precise distance between an object and a sensor. It allows the vehicle to perceive the surrounding environment more accurately. It is widely regarded as an essential component for autonomous vehicles in L3 level (advanced driver assistance systems, ADAS) and L4/L5 level (driverless), which is the "eyes of intelligent driving".

According to the difference in technical architecture, lidars are mainly divided into three categories: mechanical rotary lidars that rotate, semi-solid lidars with stationary transceiver modules, and solid-state lidars. Among them, the mechanical rotary lidar developed the earliest, and the current technology is relatively mature. However, due to the complexity of its system structure and the high cost, it is difficult to achieve mass production.

According to Sullivan's research data, driven by factors such as the expansion of the driverless fleet and the increase in the penetration rate of advanced driver assistance systems, the global market for lidar will reach $13.54 billion by 2025, which is expected to reach a 64.5% compound annual growth rate compared with 2019.

As the cost gradually enters the acceptable range of the consumer market, more and more car companies are planning to install lidar on the new mid-to-high-end models, and the car-level lidar is about to usher in a turning point of industrialization.

As early as 2010, Valeo, the world's top ten auto parts and system integration supplier, cooperated with the German lidar company Ibeo to develop the car-level lidar SCALA. Afterward, it achieved mass production in 2017 and has been successfully installed in the flagship model Audi A8. In addition, car companies such as Audi, Mercedes-Benz, NEXTEV, XPEV US, Volvo, Great Wall Automobile have also begun lidar testing.

Research data shows that in 2025, six million new cars worldwide will be equipped with lidar, and the penetration rate of L3 autonomous driving for passenger cars will reach 6%. According to Sullivan's estimates, the automotive-grade lidar market will reach $4.61 billion in 2025, with a compound growth rate of 83.7% from 2019 to 2025.

Obviously, the importance of being able to quickly seize the strategic high ground of the automotive-grade market is self-evident, and this is also one of the important reasons why many lidar manufacturers are vying to be listed first. Therefore, with the lidar blessing, the self-driving vehicle is probably like a nearsighted person who has obtained a pair of glasses that are more suitable for him. Therefore, in China's new energy vehicle market, major car companies have stated that lidar will become a necessity for autonomous driving.

In this lidar competition, the current appearance of Huawei has made the market frenzy. At present, with the arrival of the turning point in the commercialization of lidar, especially the huge prospects of car-level products, global technology giants such as Huawei, Intel, and WIMI Hologram Cloud have begun to enter this field, and industry competition may further intensify.

As a representative of global AI visual holographic AR companies, as well as the company that Weibo has a strategic investment of more than 60 million dollars, the recent performance of WIMI Hologram Cloud is also eye-catching. Since the announcement of the patent of the 3D holographic pulse laser processing device for optical holography, many industry application customers have shown strong market demand. Thus, WIMI decided to develop the 3D holographic pulse Lidar product, "WIMI HoloPulse HUD", to further expand the company's holographic product portfolio matrix.

WIMI HoloPulse LiDAR is a multi-functional holographic pulse 3D solid-state lidar, the goal is to reach a detection distance of more than 200m and can capture high-resolution 3D holographic images. LiDAR uses MEMS (Micro Electro Mechanical System) micro galvanometer to provide high resolution, long detection range, and wide field of view. Through dynamic control, LiDAR can flexibly adjust the vertical resolution and frame rate, such as allowing the focus area to be dynamically defined. LiDAR uses solid-state silicon detectors, which can reliably detect weak reflections from distant objects and strong reflections from close objects. Digital signal processing is to determine the precise position in the three-dimensional space through filtering, correlation, and statistical analysis. The point cloud generated by the LiDAR sensor can map the sensor environment in 3D. A single point cloud can be composed of tens of thousands of distance points (a single distance measurement), which contains holographic data of 3D original environment information. The software stack extracts a lot of abstract information from the holographic data, transmits commands to the actuator through deep neural network control, and presents 3D holographic data.

The WIMI HoloPulse LiDAR solution provides software development kits that match the hardware products, including target detection, classification, and counting functions. Combined with software recognition algorithms, it can provide solutions for many fields, such as autonomous driving, environment perception, 3D holographic imaging, advanced driver assistance systems (ADAS), traffic management, and 3D printing, which quickly expands the application market of holographic technology.

According to some reports, WIMI focuses on holographic cloud services, mainly in vehicle-mounted AR holographic HUD, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation, and other professional fields, covering multiple links of AR technology, including holographic vehicle-mounted AR technology, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication, and so on. It is a holographic cloud comprehensive technical solution provider.

However, although the entry of technology giants will intensify industry competition, it will also accelerate the commercialization of lidar to a certain extent. As long as the cost is further compressed to a range that is completely acceptable in the consumer market, lidar will no longer be tasteless in Musk's eyes, and will also promote the real landing of unmanned driving technology.

Overall, the development of lidar technology has given birth to a new industrial chain. Since the DARPA Driverless Challenge in the United States, the global driverless industry has entered a period of rapid development. The realization of driverless technology and the landing of driverless taxi/unmanned truck services rely on the high-precision sensing information provided by lidar. In addition, the environmental perception capabilities of lidar can expand existing driving assistance functions and improve vehicle safety, providing important support for the advanced driving assistance industry for OEMs (original equipment manufacturer) and Tier 1 companies. At the same time, lidar technology has also promoted the rise of the service-oriented robot industry and the Internet of Vehicles industry. Service-oriented robots can realize unmanned distribution and unmanned cleaning functions by giving robots the ability to perceive intelligently. The Internet of Vehicles realizes safer, more comfortable, and intelligent transportation services through the interconnection of cars and cars, cars and roads, and cars and cloud platforms. Lidar technology has promoted the development of new industries, and the rise of new industries has brought new development opportunities to society.

About Tailor Insight

Tailor Insight provides easy and quick solutions that allow customers to capture, monitor, and audit market data from a holistic view down to an individual task on market research and industry trend insights. For more information, please visit http://www.TailorInsight.com

Media contact

Alex Xie, Senior Analyst

Fintech Research Team, Tailor Insight Research

info@TailorInsight.com

http://www.TailorInsight.com

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WIMI and other Tech Giants Are into the Battlefield while Lidar accelerating the Commercialization of Autonomous Driving while - GlobeNewswire

A committee of MPs has urged tech giants such as Google, Facebook, and Microsoft to stop the immoral practice of profiting from the EUR 11.7 billion of pension fraud committed by internet scammers.

Fraudsters use online advertisements to trick people out of their pension funds, according to a report published by the work and pensions select committee, but regulators are powerless to hold the internet companies to account. According to the report, after accepting payment for the ads from criminals, the tech companies then make more money by hosting public warnings about the scams from regulators such as the Financial Conduct Authority.

During its inquiry, the committee heard evidence from the Pension Scams Industry Group that 40,000 people had been defrauded of EUR 11.7 since 2015.

The MPs say internet companies should be covered by legislation that already forces newspapers and broadcasters to vet financial adverts or face legal liability.

Fraud accounts for a third of reported crime but less than 1% of police resources are spent on investigating it. Enforcement is splintered between the police and seven regulators. The MPs called for a dedicated Pension scams centre to manage an intelligence database and enforce the law.

Younger fraud victims often suffer a double whammy of losing their pension funds, then facing large tax bills on the money they have lost, the report says. People who access their pension fund before the age of 55 must pay charges that can amount to half the value of the fund. As a result, some victims never report the crime for fear of tax penalties, the report says.

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MPs urges tech giants to act against online pension scams - The Paypers

The tech industry is expected to continue to soar in the so-called "new economy." Sponsored by WGU Washington.

The COVID-19 pandemic has caused many changes to daily life, which has affected businesses, consumers and workers.

What were seeing is that the pandemic has caused real shifts to what you call a new or even a virtual economy, said Steven Maheshwary, Washington state director of economic development for information & communication technology. He identifies these changes in three vectors:

These behaviors are going to be sticking, so we expect a lot of these things to continue on into this new economy after the pandemic, Maheshwary said.

In Washington state, for every tech applicant, there are about 10 roles in technology that are unfilled.

That was true even before the pandemic, Maheshwary said. The pandemic has accelerated it because of the reliance on a lot of technology companies that are growing and continuing to hire.

If we continue to run at that deficit, studies show we may soon have a deficit of 5 million jobs in the tech sector nationwide.

Maheshwary and other tech leaders are also focused on diversity and inclusion and how to support underrepresented entrepreneurs. This includes helping them get access to capital and get their companies and innovations into the market. Its also important that tech companies have equitable and inclusive environments to retain employees.

Because there are many job opportunities in the sector, there are also many opportunities to gain knowledge and skills, including online courses and low-cost certification programs. There are also specific classes designed to help participants get an entry-level job in tech. A great option for working adults is WGU Washington, an online university that allows students to work at their own pace.

Maheshwary has advice for those looking to have a successful career in tech.

Always be learning, Maheshwary said. Intellectual curiosity is key. A digital economy means that technologies and skillsets are involving very rapidly. Thats even more true in the tech sector.

In addition to major tech giants in our region, many smaller tech companies in the state are currently hiring in a variety of fields.

You dont need to be a software engineer to work in the tech sector, Maheshwary said. Certainly we have a great need for software engineers in our state, but we also have a great need for sales, marketing, product management, data analysis, customer service recruiting jobs that are all still unmet in our state.

Sponsored byWGU Washingtonas part of A New U: Inspiration for Pivoting to the New Economy. Segment Producer Derek Haas. Watch New Day Northwest 11 AM weekdays on KING 5and streaming live on KING5.com. Contact New Day.

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What to expect of the post-pandemic economy - KING5.com