Latest news with #AI-fuelled
Business Times
3 days ago
- Business
- Business Times
Cisco sees AI sales picking up but sticks to cautious outlook
[SEATTLE] Cisco Systems, the largest maker of machines that run computer networks and the internet, gave a cautious forecast for the current fiscal year, even as sales from artificial intelligence (AI) projects begin to pick up. Revenue will range from US$59 billion to US$60 billion in the fiscal year that runs to July 2026, the company said on Wednesday (Aug 13). That's in line with the average Wall Street estimate of US$59.5 billion, though some analysts were looking for more than US$61 billion. The guidance assumes that current tariffs remain in place till the end of 2026, chief financial officer Mark Patterson said on a call with analysts. 'We will continue to leverage our world-class supply-chain team to help mitigate the impact of tariffs where appropriate,' he said. The shares fluctuated in late trading after the report was released, rising about 1 per cent after an earlier decline. Cisco had been up 19 per cent this year to the close. Like many peers, Cisco is working to benefit from booming AI spending. The company said on Wednesday that it recognised about US$1 billion in AI revenue in fiscal 2025. Still, the area is becoming increasingly competitive. Companies such as Broadcom and Hewlett Packard Enterprise, which last month completed its acquisition of Juniper Networks, are looking to serve the same markets. In the fiscal fourth quarter, which ended Jul 26, revenue rose 7.6 per cent to US$14.7 billion. Profit was 99 US cents a share, excluding some items. That compares with estimates of US$14.6 billion for sales and 98 US cents a share for earnings, according to data compiled by Bloomberg. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Federal business should return to growth during the new fiscal year, chief executive officer Chuck Robbins said on the call. Technology firms have been grappling with changes to government procurement due to the Trump administration's cost-cutting efforts. To spread Cisco's bets, Robbins has bolstered the company's security and monitoring software by acquiring Splunk for US$28 billion in 2024. For now, Cisco is not seeing the same surge in AI-fuelled investor interest that some tech peers are, David Bahnsen, chief investment officer of the Bahnsen Group, said. But the company has 'a future growth play they are very well positioned for', he said. AI infrastructure orders from large cloud providers were over US$800 million in the quarter, the company said. That's an increase from US$600 million in the prior quarter. Cisco has inked partnerships with Saudi Arabia's AI company, Humain, and has said that it will play a role in the Stargate project in the United Arab Emirates. These Middle East partnerships will ramp up in the second half of fiscal 2026, Robbins said on the call. Cisco will be a 'core system provider' for training AI software and operating it at a massive scale, he said. BLOOMBERG
Business Times
08-08-2025
- Business
- Business Times
Tata Consultancy Services layoffs herald AI shakeup of US$283 billion outsourcing sector
[BENGALURU] Indian outsourcing giant Tata Consultancy Services' (TCS) decision to cut over 12,000 jobs signals the start of a broader AI-fuelled trend that could end up eliminating around half a million jobs over the next two to three years from the US$283 billion sector, experts said. While TCS pegged the move to shed 2 per cent of its workforce to skill mismatches rather than AI-related productivity gains, experts viewed the largest-ever layoffs by India's top private employer as the beginning of things to come in the labor-intensive sector. Roughly 12,200 TCS middle and senior management jobs will be lost. The industry, which has played a crucial role in creating a middle class in India, is increasingly seeing AI being used for everything from basic coding to manual testing and customer support. The sector employed 5.67 million people as of March 2025 and accounted for over 7 per cent of India's GDP. It has a huge multiplier effect due to the direct and indirect jobs it creates and the cars-to-homes consumption it drives in the world's fifth-largest economy. It has historically absorbed a majority of India's engineers but that will change as rising AI use ekes out more efficiencies and demands newer skills that many current employees lack, according to half a dozen industry veterans, analysts, and staffing firms. 'We are in the midst of a massive transition that will transform white-collar work as we know it,' said Silicon Valley-based Constellation Research founder and chairman Ray Wang, echoing other experts who warned that more layoffs are likely on the cards. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The most vulnerable employees include pure people managers with minimal tech knowledge, those in charge of testing or identifying bugs and ensuring user-friendliness before delivering software to clients, and infrastructure management staff who provide basic tech support and ensure networks and servers are working well, experts said. 'About 400,000 to 500,000 professionals are at risk of being laid off over the next two to three years as their skills don't match client demands,' tech market intelligence firm UnEarthInsight's founder Gaurav Vasu said, adding that about 70 per cent of those layoffs would impact workers with four-12 years' experience. 'This (fear stemming from TCS layoffs) may hurt consumer demand for tourism, luxury shopping and even delay long-term investments such as real estate,' Vasu said. TCS and its peers Infosys, HCLTech, Tech Mahindra, Wipro, LTIMindtree, and Cognisant collectively employ over 430,000 workers with 13 to 25 years of experience, according to staffing firm Xpheno. 'At the moment, they may appear like the big fat middle layer,' Xpheno's co-founder Kamal Karanth said. None of the IT firms responded to Reuters queries seeking comment. 'With cost optimisation being the key driver for new deal wins, clients are asking for productivity benefits – a trend which is also growing due to the rise in AI adoption. This requires IT firms to do more work with the same number of employees or the same work with fewer employees,' Jefferies analyst Akshat Agarwal said in a research note. Adapt or perish TCS, which had more than 613,000 workers before the layoffs, said in its late July announcement it was gearing up to be 'future-ready' by investing in new technologies, entering new markets, deploying AI at scale for its clients and itself, and realigning its workforce model. It did not answer Reuters queries on how many layoffs were tied to AI adoption and why it could not redeploy the affected employees. 'This is very devastating news,' said a 45-year-old, Kolkata-based TCS employee affected by the latest layoffs. 'It is very difficult for people my age to get new jobs.' Some others who are still at TCS fretted over its mediocre performance bonuses for senior employees in recent quarters, a new 'bench policy' that limits the time somebody could be without a project regardless of personal circumstances or past performance, on-boarding delays, and the emotional turmoil caused by the layoffs. 'All these developments have tanked the morale of mid-career folks like me,' a Pune-based TCS employee said. The Indian outsourcing sector has been a key employment engine since the 1990s, offering upward mobility to millions of engineers. But revenue growth has weakened recently as its clients, stung by inflation and US tariff uncertainty, defer discretionary spending and demand better cost management. 'The tech industry is at an inflection point, as AI and automation move to the very core of how businesses operate,' industry body Nasscom said. During past tech revolutions, disruption was felt at the organisational level. 'With AI, for the first time, the onus is on the individual to reinvent or re-skill themselves,' former Tech Mahindra CEO CP Gurnani said. REUTERS
Miami Herald
07-07-2025
- Business
- Miami Herald
GoodData Launches AI for Self-Hosted Analytics: Powerful, Proven, Private
GoodData AI capabilities, including AI Assistant and Smart Search, now available for self-hosted deployment. Keep your data private, compliant, and AI-fuelled. SAN FRANCISCO, CALIFORNIA / ACCESS Newswire / July 7, 2025 / GoodData, the AI-native analytics platform, today announced GoodData AI is now available for self-hosted deployment. Enterprises can now run GoodData AI, including AI Assistant and Smart Search, entirely within their own infrastructure - on-premises or in a private cloud - with zero third-party data exposure. With this launch, GoodData delivers the full promise of AI-driven analytics while honoring the strict privacy, compliance, and control requirements of modern enterprises. Self-hosting gives organizations total ownership of their analytics workflows, from natural language queries to insight generation, all within their secure perimeter. "Enterprises shouldn't have to choose between innovation and control. With self-hosted GoodData AI, we're giving our customers the best of both worlds - cutting-edge generative analytics, deployed entirely on their terms. This is a major step toward making AI not just powerful, but practical and secure for every organization." Roman Stanek, Founder and CEO, GoodData Enterprise-Grade AI, Fully Private Self-hosted GoodData AI brings a new level of confidence to enterprises that demand the highest in data security. Key benefits include: Enterprise Data Privacy: All interactions with AI, including queries, search, and generated insights, remain entirely within your environment. No external processing. No vendor Flexibility: Choose how and where to run your AI-powered analytics. GoodData supports deployment on-premises or in your private cloud, seamlessly integrating with your existing tools and & Control: Align easily with regulatory standards such as GDPR, HIPAA, and others. Organizations maintain complete control over updates, access policies, and model tuning. AI That Works Where You Work Self-hosted GoodData AI isn't just secure - it's smart, scalable, and built to fit into any modern data ecosystem. From business users to developers, every part of the platform is engineered for seamless, intelligent interaction: AI Anywhere: Add natural language analytics anywhere - UI, embedded apps, or workflows - with full white-label support for branded Semantic Layer and Ontology: AI that understands your business using governed, domain-aware semantic models that deliver contextually accurate Language Insights: Get conversational access to precise answers, visualizations, and next steps, all aligned with your data Analytics Lake: Built on a unified, high-quality data foundation that supports scalable, real-time AI interactions across all analytics Context Protocol (MCP) Support: Enables real-time, cross-system context that makes AI relevant. GoodData's new MCP Server Beta program is now available!Developer Tools and APIs: API-first architecture enables developers to embed, automate, and integrate AI into any enterprise workflow or application. This architecture enables enterprises to bring AI directly into decision-making processes - quickly, intelligently, and securely. "With the release of GoodData AI for self-hosted deployment, we're making enterprise analytics more intelligent, accessible, and scalable than ever. These capabilities empower developers and business users alike to interact with governed data through natural language and intuitive search." Jan Franek, Senior Product Manager, GoodData "We're excited to bring GoodData into our ecosystem of partners, helping us deliver secure, self-hosted AI capabilities for public safety. By enabling agencies to ask questions in plain language and instantly turn data into actionable insights, we're helping officers work more efficiently, accelerate investigations, and enhance community safety-all within a compliant, cloud environment that ensures full data privacy and control." Wendy Gilbert, SVP of Product, Mark43 AI, On Your Terms With self-hosted GoodData AI, organizations can finally combine the flexibility of open architecture with the intelligence of next-gen analytics, while complying with the strictest security the latest step in GoodData's vision to bring trusted, explainable AI to every analytics interaction. For more information, visit About GoodData GoodData is the AI-native analytics platform built for speed, scale, and trust, helping companies deliver real-time insights - embedded, branded, and everywhere your users need them. Founded in 2007, and with offices in both the U.S. and Europe, GoodData serves over 140,000 of the world's top companies and 3.6 million users, helping them drive meaningful change and maximize the value of their data. For more information, visit GoodData's website and follow GoodData onLinkedIn, YouTube, and Medium. GoodData Contact press@ ©2025, GoodData Corporation. All rights reserved. GoodData and the GoodData logo are registered trademarks of GoodData Corporation in the United States and other jurisdictions. Other names used herein may be trademarks of their respective owners. SOURCE: GoodData
Scottish Sun
03-07-2025
- Business
- Scottish Sun
How young people can boost chances with ways out of AI-fuelled job dilemmas
Almost a million young people aged under 25 are categorised as being NEETs — not in employment, education or training SUNEMPLOYMENT How young people can boost chances with ways out of AI-fuelled job dilemmas THE number of entry-level jobs suitable for school and college leavers has dropped dramatically. They have plunged by almost a third since ChatGPT was launched in November 2022, as more firms begin to use AI for basic tasks. Advertisement 4 Brandon Tattersall was out of work for 16 months when he lost his job at Currys Credit: Supplied Already, almost a million young people aged under 25 are categorised as being NEETs — not in employment, education or training. But while firms complain of a skills shortage, unlocking the potential of jobless youngsters could plug the gap and turbocharge economic growth. Youth Employment Week begins on Monday and will see charities, social enterprises and youth workers come together to highlight the enormous potential of the UK's younger generation. Here are some of the best to help you . . . Advertisement MOVEMENT TO WORK is a not-for-profit coalition of major UK employers aiming to break the 'no work experience, no work' cycle. Employers including Accenture, BAE Systems, Barclays, Centrica, Diageo, Marriott, M&S, Tesco and Salesforce have signed up to offer work experience to NEETs. Applicants do not need formal qualifications. After Brandon Tattersall lost his job at Currys he was out of work for 16 months. Advertisement But with help from his social worker, he secured a placement at BAE Systems through Movement to Work and was offered a job with the firm. Now 26, Brandon is an HR data analyst. He said: 'The programme didn't just offer a placement — it gave me the skills and interview practice needed to feel prepared for future applications and gain the real work experience employers ask for.' Disability benefit explained - what you can claim Movement to Work CEO Sareena Bains said: 'In the face of rising youth unemployment and economic inactivity, removing barriers to work has never been more critical.' See or contact info@ Advertisement As a dad at the age of 14 and a grandfather at 35, Alex Hughes has faced struggles in his life. But he is now one of the country's leading social entrepreneurs, running youth work placement specialists Alex said: 'I would love to see society treat young people as contributors, not problems to fix. "We need to stop seeing youth unemployment as a charity issue and start treating it like a national economic priority.' Advertisement Through targeted careers coaching and locally focused work experience, Alex has helped 10,000 young people into jobs, training and community work in Cambridgeshire and he has plans to roll out the programme across the country. He is also calling for employers to recognise what many NEET people have experienced. He added: 'If someone's navigated homelessness, debt, care or trauma, they have the resilience and resourcefulness many employers want.' YOUTH EMPLOYMENT UK offers careers advice and free online training for young people, including virtual work experience with big-name companies. Advertisement There is also local support and the chance to explore individual employers. You can find out more at 4 The number of entry-level jobs suitable for school and college leavers has dropped dramatically Credit: Getty Top tips UNEMPLOYED and feeling out of luck? Here are Alex Hughes' top tips to help . . . 1. You are not the problem. The system is messy, and it often makes you feel like you are failing. You just haven't found your space yet. 2. Find your people. Surround yourself with those who listen and look out for you. Whether it is a youth group, a mentor or a local hub. Community changes everything. 3. Try something that feels too small to matter. A one-day event. A volunteer role. Saying yes to a random opportunity. That tiny move might be your big unlock. Just consider how this experience will help you develop yourself. 4. Turn rejection into redirection. Every 'no' is fuel. Take it as a sign you are trying and that means you are already further than most. 5. Ask for help, loudly or quietly. There are people and places who are built to back you. Don't suffer in silence. You are not alone. 6. Dream big then take one step. You don't need a ten-year plan. You need a reason to get out of bed this week. One step is enough. Then another. Then another. 'ROLE AT GP SURGERY HAS BOOSTED MY FINANCIAL HEALTH' WHEN you are young with a learning disability or autism, finding a job can be even more challenging. Advertisement But supported internships are proving one of the most effective ways for people to show off their skills to potential employers. 4 DFN Project SEARCH is a charity that has helped young people like Juned Ali Credit: Supplied DFN Project SEARCH is a charity that helped more than 4,500 young people gain work experience last year, with structured study programmes for school and college leavers aged 16 to 24. The national charity works with young people who have an Education, Health and Care Plan. Advertisement It aims to increase the employment rate for youngsters with special educational needs and disabilities, with 63 per cent of trainees going on to employment. One of the programme's top success stories is Juned Ali, from London. Juned, who has a mild learning disability, did a placement at Queen Mary University of London. He now has a role as a GP's co-ordinator and administrative assistant. Advertisement He said: 'DFN Project SEARCH has completely changed my life. At first, my mum was reluctant about me starting the supported internship, but when she saw how well I was doing, she was proud. 'Now, I earn my own money. I don't have to ask my family for things, like I did when I was younger. I can just go out and get it. I kick-started my career from the age of 18, and I'm thriving. 'I'm 20 years old, and my goal is to keep progressing in my career, work towards higher roles and, someday, get married.' Kirsty Matthews, CEO of DFN Project SEARCH, said: 'We see young adults with a learning disability, who are autistic, or both, demonstrate their talents and capabilities every day.' Advertisement Jobspot PICK up a retail role. ALDI is recruiting 1,000 people, with roles from cleaners to managers. See And B&M Stores has more than 80 jobs going including in security and management. See SWERVE BURNOUT WITH HOL 'HOLIDAY hoarding' is a growing issue, as two thirds of staff now fail to take half their annual leave by the middle of the year. HR experts have designated this week as the peak for burnout, with staff becoming ill through lack of time off. 4 Charlie O'Brien, of Breathe HR, shares her advice for tacking holiday hoarding Credit: Supplied Charlie O'Brien, of Breathe HR, shares her advice for tacking holiday hoarding. Advertisement 1. Reflect on why you are holiday hoarding. Are you leaving it late when it comes to booking holidays? Is your workload preventing you from taking a break? Or are you worried about what your employer might think if you take all your leave? If it is a workplace culture or workload issue, talk to your manager. We are all entitled to take our holiday and our employer should not make us feel guilty about doing so. 2. Book time off – even if you don't end up going away. We need regular breaks from work to give us time to relax, reset, and show up as our best selves at work. Advertisement 3. Make a plan to 'holiday hack'. Maximising annual leave is really important. Be savvy about when you book leave, and plan ahead to spread your holidays through the year. Look at least a year ahead and make the most of the bank holidays to stretch your leave even further. 4. Try microbreaks. Getting the dates booked is the first step to holding yourself accountable and giving yourself permission to take the regular breaks from work you are entitled to. 5. Assess why you are carrying over holiday to the next year. It's fine if it is planned, but it shouldn't be happening by accident. Cost of teenage try-outs A LACK of money is holding back millions of young people from accessing work experience, research says. The AAT study reveals 41 per cent of 14 to 18-year-olds have less than £8 per day to spend on work experience-related costs such as travel, food and suitable clothing. Meanwhile, almost a third of employers say increased operational and staffing costs are affecting their ability to pay work experience students or cover expenses. To help, AAT has teamed up with Springpod to launch virtual work experience into the sought-after accountancy sector. AAT boss Sarah Beale said: 'Too many young people are locked out of early career experiences simply because they don't have the opportunities or right connections. 'That's a clear barrier to social mobility, and one we are determined to break down.' Apply for work experience at Unlock even more award-winning articles as The Sun launches brand new membership programme - Sun Club.
Time of India
26-06-2025
- Business
- Time of India
S&P 500 few points away from record high it hit in February
A mixed batch of economic data failed to stop the S&P from pushing within a striking distance of a record high, with Treasury yields falling alongside the dollar amid growing bets on Fed rate cuts this year. Tired of too many ads? go ad free now The S& topped 6,100 and is now just a few points away from its Feb 19 closing peak. Banks led gains as an analyst said that as long as there's no recession, it's "game on" for the stocks. Wall Street's renewed rally reflects confidence in AI-fuelled expansion and economic resilience, with investors setting aside geopolitical fears.
