It is a turbulent time for the job market of the tech industry. Many companies’ demand for workers in this sector has changed drastically over the past few years. In 2020, various tech industries took part in hiring sprees in response to the surge in consumer demand for digital goods and services that skyrocketed due to the pandemic. Additionally, many companies hired new employees on a full-time salary instead of on contract.
globalEDGE Blog Archive February 2023
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Artificial Intelligence (AI) is a rapidly growing field revolutionizing businesses’ operations. From automating repetitive tasks to predicting customer behavior, AI transforms how companies do business.
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The current earthquakes seen in Turkey are a devastating event that will have ramifications in all sectors of life. In this blog we will be discussing the economic impact. The recent 7.8 earthquakes in Turkey will significantly impact the Turkish economy, which will ripple throughout the world economy. Turkey has the 19th largest economy in the world at nearly 1 trillion USD. Economic consequences of this disaster are seeming to be high inflation, a collapsing stock market, and a devastated agricultural sector.
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The international tax reform has been discussed for many years. However, we are now entering the year of its suspected implementation. So, what is the international tax reform, what will it mean for businesses, and what is still being debated on it?
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Originally known as the Renault-Nissan Alliance, the Renault-Nissan-Mitsubishi Alliance is a French-Japanese strategic alliance involving the automakers Renault, Nissan, and Mitsubishi Motors, which collectively account for more than 1 in 9 automobiles sold globally. Since 1999, Nissan and Renault have worked together strategically. Together, they employ nearly 450,000 people and manage eight leading brands: Nissan, Mitsubishi, Infiniti, Renault Korea, Dacia, Alpine, and Venucia.
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While COVID-19 infection rates may be dropping, healthcare systems in several countries are falling apart. Britain's public healthcare system, the National Health Service (NHS), has been overwhelmed like never before. The NHS, once a source of pride for many citizens of the United Kingdom, now has citizens criticizing the system and calling for improvements.
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The fashion industry is a renowned industry with a deep history. The market took a deep plunge in 2020 but is recovering to levels not even before the 2020 drop. However, the market shift towards sustainability surprises companies as many push to adapt.
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In 2022, electric vehicles will become mainstream - we will see more on the roads daily. 2023 may see a significant increase in the production of these cars, even though 2022 did present lower sales. We saw high-interest rates and market instability in the past year, which impacted electric vehicle sales. The rising cost of batteries and shortages of critical materials also drove electric vehicle sales down.
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2022 was a year of major milestones and innovations in the cryptocurrency industry, including the meteoric rise of Web3 and the metaverse, the continued development of decentralized finance, and the introduction of non-fungible tokens. The upward trend seemed like it would continue, with the global crypto community aligning to support Ukraine amid its tensions and ultimate conflict with Russia. Thousands of people and leading brands joined hands to donate crypto funds to Ukraine, which will go down in history as one of the most prominent mass-market uses of blockchain technology to date. But this social unity has not helped hide the dramatic downward shift many crypto coins and exchanges are currently taking.
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The world's population continues to grow at an alarming rate, and many countries are facing declining birth rates. This has far-reaching consequences for economies as the aging population shrinks the workforce, leading to a shortage of low-wage labor. Additionally, the demographic pyramid is becoming inverted as the elderly population grows relative to the working-age population, creating sustainability issues for social contracts that rely on the young to support the elderly. These challenges are particularly pronounced in developed countries, while developing countries face the opposite problem of a growing youth population with insufficient job opportunities. With the future of the global population at stake, it's crucial to address these issues and find sustainable solutions that benefit all.
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Since being introduced to the public on November 30th of 2022, ChatGPT has taken over the world by storm. It is an AI chatbot designed and created by OpenAI, an AI research and deployment company. ChatGPT is a natural language processing tool driven by AI technology that allows for users to have human-like conversations, conduct research, answer questions, and assist with tasks. But, the question being asked is what are the applications of the newfound AI technology?
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The debate over raising the minimum wage is a contentious one, with proponents arguing that it will lift workers out of poverty and stimulate economic growth, while opponents argue that it will lead to job loss and higher prices for goods and services. As we look ahead to 2023, it is worth considering how an increase in the minimum wage might affect the labor market.
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Imagine knowing the outcome of potential situations before committing to a decision. Now imagine having this test scenario in the business world. Digital twin technology can solve precisely that. Companies worldwide are already developing and utilizing this technology to enhance processes, supply chains, facility management, and other areas.