As companies are taking a deep plunge into layoffs, UAE’s tech sector is holding the beacon for techies The very first thing that comes to mind when you think of Big-tech would be lay-offs.No wonder, given the massive layoffs that are making big news, the big-tech sector has become synonymous with layoffs.What if we say there is still hope left? UAE is hiring and it is one place ranked in the top for work life balance.As companies are taking a deep plunge into the layoff abyss, UAE’s tech sector is holding the beacon for tech aspirants.This is all because new projects and international investments, particularly in the post-pandemic world, have boosted the economy.
A Middle East Job Index Survey by Bayt.com and YouGov conducted to assess job availability shows approximately 7 out of 10 UAE firms, ie., 70% want to hire new staff next year.
Around 50% of companies want to hire in the first three months of 2023.Though the report stated that Sales Executives, Accountants, and Administrative Assistants would be among the roles that UAE would be hiring for the next year, IT, pharmaceuticals, and engineering would top the hiring process.Talking to Gulf News, Wilson Xavier, Senior Research Director of Services at IDC said, “Here, we are probably seeing a different picture on the horizon, one that characterizes optimism with an element of caution as we enter 2023”.According to what he said to the news portal, IT spending in Gulf will reach 5.2% CAGR by 2026, resulting from last year’s outlays.
The added funding would apparently take the impact of the incoming recession.Further, it is going to create a shortage of tech talent in the fields like Cloud, security, Big Data, AI, etc.
It is reported that, in 2022, UAE startups including those in Saudi Arabia have got record-level funding.For eg., Banayat AI, an Abu Dhabi-based geo-location data firm got a whopping Dh57.5 billion for its IPO.With billions of oil money waiting to be pumped, startups become attractive avenues for massive funding in addition to big tech companies in UAE.Way back in August, UAE’s Minister of State for Entrepreneurship and SMEs announced implementing a $272 million private equity fund to support UAE startups and SMEs.
This policy decision is to create at least 20 Unicorn companies by 2031.Shailesh Dash, a Dubai-based financier, and entrepreneur opine UAE has the right kind of infrastructure needed to support startups in the region.Does that mean big-tech layoffs would have zero impact on UAE’s hiring scenario? Experts consider layoffs as a US-centric phenomenon.Joshua Warner, a Stone X Group analyst says, “The layoffs announced by Big Tech should be treated with caution.For now, this is more a rebalancing act as Big Tech looks to shed excess staff in some areas while still hiring in key areas.” The post UAE’s Tech Sector Stick to Their Hiring Plans, More Start-Ups Launched appeared first on Analytics Insight.Russia to increase its campaign of drone bombardments on Ukraine according to the President According to Ukrainian President Volodymyr Zelenskyy, Russia intends to “exhaust” Ukraine into submission through a lengthy campaign of drone assaults and aerial bombardments.Zelenskyy stated that Ukraine has received information that Russia will step up its campaign of drone assaults on the country in his evening address to the nation on Monday.Zelenskyy stated, “We have evidence that Russia is preparing a long-term strike employing Shahed drones.
It’s presumably counting on fatigue.consuming all of our energy, manpower, and anti-aircraft defenses,” he stated.According to him, Ukraine must “act and do everything to ensure that the terrorists fail in their purpose, as all of their previous attempts have failed.” Following Russian missile and drone assaults that rocked Kyiv and other locations on New Year’s Eve and early on New Year’s Day, killing at least five people and injuring others, key infrastructure in Kyiv and the surrounding areas was targeted early on Monday.In just the first two days of 2023, Zelenskyy said that Ukrainian troops had fired dozens of drones, and he predicted that the number would soon rise.“Only two days have elapsed since the year began… “Over 80 drones have already been shot down over Ukraine,” he claimed.“This number might rise shortly.” The Russian military is increasingly utilizing so-called kamikaze drones, which are armed with explosives that fall vertically and quickly on their target after their flight route, causing significant damage and deaths.
The Russian drone war plan has been to launch a large number of unmanned projectiles at a specific target and overload Ukraine’s air surveillance and defense systems, despite the Iranian Shahed drones’ comparatively sluggish movement and ease of target for the country’s air defenses.Before admitting in November that it had delivered a “small quantity” of the aerial bombs to Moscow, Iran has always denied giving Russia drones for use in the Ukraine War while maintaining that they were in the hands of Russian forces before the invasion of Ukraine started.
The post Russia to Increase its Campaign of Drone Bombardments on Ukraine appeared first on Analytics Insight.Elon Musk’s Tesla stocks Amidst Twitter Drama, Elon Musk’s Tesla Stocks Have Plummeted Elon Musk’s Tesla stocks come down as it fell short of sales target in 2022, amid his $44 billion purchase of Twitter Elon Musk’s Tesla stocks has plummeted 65% last year as a result of his $44 billion purchase of Twitter, falling short of its production and delivery growth goal for 2022.Elon Musk rose to the position of the world’s wealthiest individual last year, holding it until nearly the middle of December.However, Bernard Arnault has now overtaken him.
Despite the fact that his net worth reached new heights in 2022, it also dropped.Tesla had to sell 495,760 automobiles in the final quarter in order to meet the predicted 50 percent steady rise.Tesla manufactured 439,000 vehicles and delivered 405,000 vehicles in the final quarter.Prior to Tesla surpassing its goal of reaching production and deliveries by 50% in 2022, Tesla stocks plummeted by approximately 65%.
Vehicle deliveries increased by 40% whereas production increased by 47% in 2022.Musk’s diversion with his Twitter makeover is the reason for the inability to reach the production targets.The firm said at a recent summit that it was moving toward a more balanced regional balance of vehicle manufacturing, which formerly caused a rise in the number of vehicles in transit at the close of the quarter.Investors are concerned that the issues with the supply network and the China Covid scenario will have a negative impact on Tesla sales in near future.They are also worried about Musk’s Twitter diversion.From this scenario, the CEO of Tesla is the first person to experience his total wealth drop by $200 billion.Following his $44 billion purchase of Twitter, his wealth continued to decline.In an effort to sell more cars, Tesla recently declared a price cut for a range of its models, including the Model 3 and Model Y, providing a $7,500 discount.
These risks have made investors rethink Tesla’s potential from the ground up in a faltering economy.It continues to be the most lucrative manufacturer and the sole significant automaker that is regarded as a growth stock.Investors, however, are really no more persuaded that Tesla can command the automobile sector in a similar manner that Apple leads the smartphone market and that Amazon regulates online retail.The post Amidst Twitter Drama, Elon Musk’s Tesla Stocks Have Plummeted appeared first on Analytics Insight.
Latest News Will Robots Cause Significant Disruption In The Labour Market? The study found that robots aren’t replacing humans at the rate most people think Disruptive technologies like advanced analytics, advanced robotics, big data, learning machines, the internet of things, 3D printing, and wearables are finding their way into production lines.Notwithstanding the sluggishness of progress on today’s plant floors, the digital wave is gradually changing assembling, adding to significant productivity improvements and the rise of innovative production paradigms that deliver more customized and proficient solutions.In the interim, automation is the innovation that empowers machines to play out specific operations.
One might easily think that robots are causing disruption in the labour market by replacing human workers, especially when considering examples like chatbots serving as more efficient customer service representatives or computer programs handling package tracking and transportation without human intervention.
The question is, will robots cause significant disruption in the labour market? According to a study by Eric Dahlin, a sociology professor at Brigham Young University, there is no need to fear an imminent robot takeover of jobs.Dahlin’s research suggests that the rate at which robots are replacing humans is not as high as many people believe and that people tend to greatly overestimate the extent to which robots are taking over the workforce.Robots are causing Disruption in the Labour Market? An increasingly sophisticated cohort of robots is proving capable of performing a wide array of tasks, from helping the elderly to cleaning home and office floors, and flipping burgers to performing complex surgery.Moreover, tasks in a predictable environment, such as a fast-food restaurant or a factory assembly line, and basic data processing like tracking payroll accounting, could also easily be automated with the help of robots and software available now.
They are even managing software developers, supervising their clicks and scrolls, and curtailing their pay if they work too slowly.Modern robots are also capable of listening to call centre workers, recommending to them what and how to respond to customers, and keeping them continually, extremely busy.The post Will Robots Cause Significant Disruption in the Labour Market? appeared first on Analytics Insight.Top posts confiscation49 mins ago Iran Returns Seized Crypto Mining Equipment To Miners A government body responsible for state property in Iran has released some of the hardware seized from illegal crypto mining…
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