The Future is Here: How AI Will Transform Investment and Asset Allocation

By Hariom Tatsat, VP at an Investment Bank in New York and Author of “Machine Learning & Data Science Blueprints for Finance”

Artificial Intelligence (AI) has been touted as the next big thing in asset management, promising a new era of efficiency and insights. With a unique blend of Natural Language Processing (NLP) and machine learning technologies, the financial sector is on the cusp of a transformative change.

AI Minimizes Human Error in Research

Let’s face it: human error is inevitable when financial analysts have to comb through vast amounts of unstructured data from news outlets, social media, and regulatory filings. The sheer volume and speed at which new information is generated make it nearly impossible to maintain accuracy manually.

NLP: The Game Changer in Asset Management

NLP (Natural Language Processing), a subset of AI, has been revolutionary in this context. By automating the analysis of text data, NLP minimizes human errors and enables analysts to concentrate on strategic decision-making. When coupled with Automated Machine Learning (AutoML), the process becomes not only faster but also significantly more accurate.

Big Data and Business Analytics

Big Data has been a buzzword for a while, but what does it mean in the context of asset management? It involves sifting through enormous volumes of structured and unstructured data to glean actionable insights. The power of NLP comes into play here. It can efficiently categorize and analyze unstructured data, converting it into a format that’s understandable and actionable for financial analysts.

The New Paradigms in Investment Research

AI and machine learning technologies have the power to provide a more holistic view of investment opportunities by analyzing a multitude of factors that are often overlooked. For instance, AI can perform sentiment and relevance analyses on a company’s reputation, consumer sentiment, and even undisclosed factors like employee diversity, which can significantly impact stock prices.

Portfolio Construction Reimagined

The traditional ways of portfolio construction are becoming increasingly obsolete. With the advanced analytics provided by AI, data scientists can build predictive models based on historical events such as market crashes, trade wars, or natural disasters. This allows asset managers to anticipate market changes and adjust strategies accordingly.

Expert Opinion: The Balancing Act

As exciting as these developments are, they come with their own set of challenges, including ethical and regulatory considerations. The industry is grappling with questions about data privacy, the ethical use of AI, and the need for appropriate regulations.

The Way Forward

It’s clear that AI and NLP are not just buzzwords but essential technologies that will shape the future of asset management. By leveraging these tools, asset managers can minimize risks, maximize returns, and redefine the future of investment.

For those interested in diving deeper into the intricate relationship between finance and machine learning, Hariom Tatsat’s book is a must-read. It serves as a comprehensive guide that covers everything from basic algorithms to advanced predictive models in finance. The book provides real-world examples and outlines best practices for implementing machine learning solutions in financial institutions.

To learn more about Hariom Tatsat, click here

Holberton School Collaborates with Innovation and Digital Development Agency to Bring Tech Education to Azerbaijan

In a significant move to advance digital education in Azerbaijan, the Innovation and Digital Development Agency, under the sponsorship of “PAŞA Holding” Companies Group, has announced a partnership with the globally renowned educational network, “Holberton School.”

Holberton School, known for its excellence in computer science and software engineering education, is set to launch a new educational program in Azerbaijan. Operating from Silicon Valley, Holberton School is renowned for its high-quality technological programs and innovative, hands-on teaching methodologies in the field of Information and Communication Technology (ICT).

This partnership is a game-changer for individuals in Azerbaijan aspiring to gain expertise in ICT. The program is open to anyone aged 18 and above, aiming to provide a unique and effective learning experience. Holberton School’s distinctive approach to education emphasizes peer-to-peer learning, offering students the opportunity to collaborate and engage in teamwork. 

The application process will be conducted online through the official website, where prospective students will be given a three-step assignment. In the final stage, candidates will undergo interviews with Holberton representatives. Unlike traditional educational programs, this selection process places more emphasis on evaluating candidates’ logical and analytical thinking abilities rather than their existing computer science or programming skills. Proficiency in the English language is a requirement, as the entire selection process will be conducted in English.

A total of 60 successful candidates will be granted the opportunity to participate in the program, receiving full scholarships for their education. Throughout the program, classes will be conducted in a full-time format, from 9:00 AM to 6:00 PM daily.

In the initial nine months, students will acquire fundamental skills in computer science. Afterward, they can choose to work as junior software engineers or specialize in one of six fields offered by Holberton School, including Machine Learning, Augmented and Virtual Reality, Low-level Programming and Algorithms, Full Stack, Front-end, and Back-end Programming.

The application deadline for this unique opportunity is September 28, 2023. Classes are set to commence in October 2023.

This partnership between Innovation and Digital Development Agency and Holberton School signifies a significant step toward nurturing the next generation of digital leaders in Azerbaijan, ensuring they receive world-class education and resources to excel in the ever-evolving field of ICT.

Navigating the Ad Tech Revolution: Insights from Truvid’s Head of Media, Aviv Seri

In today’s digital age, where every click, scroll, and tap leaves behind a data trail, the advertising landscape has undergone a major transformation. At the heart of this revolution lies the intricate and dynamic world of ad tech – an industry that has redefined how businesses connect with their target audiences. As we stand at the crossroads of creativity, technology, and consumer behavior, understanding the nuances of the ad tech industry has never been more crucial.

The ad tech industry has become fundamental in digital marketing strategies. It encompasses a vast ecosystem of platforms, software, and tools designed to optimize and streamline the entire advertising process, from ad creation and placement to performance tracking and analysis.  From the early days of static banner ads to today’s hyper-targeted video-based programmatic campaigns, ad tech has continuously pushed the boundaries of what’s possible.

We had a chance to interview Truvid’s leadership team, a leading Video Adtech platform, that enables publishers and content creators to effectively work together to deliver superior video experiences. 

In today’s interview, we talked to Aviv Seri, Head of Media at Truvid.

Can you describe what Truvid’s main mission is?

Truvid’s video platform enables publishers to consume, deliver, and monetize quality video experiences.

Truvid’s technology solution delivers “unmatched video experiences.” Could you elaborate on the ways you and your team ensure Publishers are shaping these exceptional experiences for end-users?

It’s all about relevant content, the user’s eyes are already automatically drawn to video on a site, and we specialize in video – the hard part is to maintain their attention.

The key to delivering the best possible video experiences is relevant content for the user so that they are genuinely interested in the video content presented and as a result remain longer on the site.

Could you share an example of a challenging situation your team has faced while driving the growth of Truvid and how you overcame it?

 As publishers know, the digital landscape is constantly evolving, and this includes regulations around user data privacy. We faced a significant challenge when new privacy regulations were introduced that impacted how we could collect, use, and share user data to optimize video experiences and monetization.

To overcome this challenge, we collaborated with publishers to understand their concerns and to develop tailored solutions that met their needs while respecting privacy regulations.

 By enhancing our data privacy practices and deepening our collaboration with publishers, we achieved compliance and also strengthened the trust between Truvid and our valued partners.

Another challenge is the shift in preferred content consumption. Our platform was designed to offer quality video experiences, but we noticed a growing trend towards shorter-form content and mobile consumption.

To address this, we undertook a content partnership strategy revamp. We strategically chose our content creation partners to develop shorter, engaging video formats that were tailored for mobile consumption and suited short form video formats.

In the rapidly evolving tech landscape, how do you balance staying ahead of the curve with maintaining a consistently good user experience? 

The synergy between publishers, content creators, and Truvid is at the core of delivering exceptional video experiences. Publishers bring a deep understanding of their audience’s preferences and content needs. 

Truvid acts as the vital bridge that connects these publishers to content creators. Our platform empowers publishers to seamlessly consume, manage, and distribute high-quality video content and choose from our wide variety of content options.

Looking ahead, what trends do you foresee shaping the video short-for landscape, and how do you think Truvid will adapt to this evolving landscape?

Personalization is a significant trend that’s expected to shape the future of video content consumption. With the high volume of content available, viewers are seeking tailored recommendations that align with their interests and preferences. Perhaps, Truvid will adapt using AI to customize content and video experiences to specific audiences. 

Adtech is a volatile space. Can you discuss a time when your team needed to pivot or innovate to address changing user needs or industry demands?

A notable challenge we encountered was ad fatigue – viewers becoming overwhelmed or frustrated by excessive advertising. With this in mind, we shifted Truvid’s emphasis onto content partnerships that would enhance a user’s experience. Recognizing the crucial role that content plays in shaping viewer engagement, we have strategically forged alliances with both publishers and content creators to curate a dynamic and diverse video ecosystem.

By fostering strong relationships with publishers, we gain insights into their audience’s preferences, content gaps, and emerging trends. This, in turn, informs our engagement with content creators, enabling them to craft videos that are aligned with the desires of the viewers.

Excelling in Data Analytics: Meet Srinath Kota, the Project Manager Who Makes Data Work

In today’s data-driven world, the role of a Data Analytics Project Manager is more crucial than ever before. With the exponential growth of data and the increasing demand for insights, these professionals play a pivotal role in translating raw data into actionable strategies. Among these talented individuals, one name stands out—Srinath, who excels in the dynamic field of data analytics.

The Journey Begins:

Srinath embarked on their career journey with a passion for data and a fascination with extracting meaningful insights from data. Armed with a degree in electrical and computer science and a knack for problem-solving, they quickly found their niche in the world of data analytics. Their career began as a programmer, where they honed their skills in data manipulation, statistical analysis, and data visualization.

The Rise to Project Management:

As Srinath progressed in his career, he realized his true calling lay in orchestrating data analytics projects. His ability to communicate complex data concepts to non-technical stakeholders and their knack for keeping projects on track made him a natural fit for the role of a Data Analytics Project manager.

In his role as a Data Analytics Project Manager, Srinath has successfully led numerous projects, ranging from business intelligence dashboards, predictive analytics models and speech analytics. His skill in communicating between technical teams and business stakeholders has been crucial in delivering projects that bring real business benefits.

Key Responsibilities and Achievements:

As a Data Analytics Project Manager, Srinath is responsible for various critical tasks:

  • Project Planning and Strategy: Srinath excels at developing project plans, setting realistic timelines, and defining clear project objectives. He understands that a well-thought-out strategy is the foundation of a successful analytics project.
  • Team Coordination: Managing cross-functional teams between various time zones of data analysts, data scientists, and software developers, Srinath ensures that everyone is aligned and working cohesively toward project goals.
  • Stakeholder Engagement: One of Srinath’s standout qualities is their ability to communicate complex data findings to non-technical stakeholders. He facilitates a deep understanding of the insights generated, empowering decision-makers to make informed choices.
  • Risk Management: He has an innate talent for identifying potential roadblocks and devising contingency plans to keep projects on track. His foresight ensures that projects are delivered on time and within budget.
  • Continuous Improvement: Srinath is committed to staying at the forefront of data analytics trends. He regularly invests in professional development to bring the latest tools and techniques to his team, ensuring that his projects remain cutting-edge.

Impacting the Bottom Line:

Srinath’s exceptional skills and dedication to their role have not gone unnoticed. Their ability to translate data into actionable insights has led to significant improvements in the organizations they’ve worked with, including Space/Aerospace/Healthcare and many more. Whether it’s optimizing marketing strategies, predicting customer behavior, or streamlining operations, Srinath has consistently contributed to boosting the bottom line.

A Role Model for Aspiring Data Analytics Professionals:

Beyond their technical prowess, Srinath serves as an inspiration to those looking to carve a path in the world of data analytics. He demonstrated that a strong foundation in data science, coupled with effective project management skills, can lead to a rewarding and impactful career.

His journey from a programmer to a Data Analytics Project Manager exemplifies the possibilities that exist within this dynamic field. Srinath’s success story underscores the importance of continuous learning, adaptability, and a passion for transforming data into meaningful insights.


In the realm of data analytics, leaders like Srinath are the unsung heroes who ensure that data doesn’t remain just numbers but becomes a driving force for informed decision-making. Their remarkable ability to manage projects, communicate effectively, and deliver tangible results make them invaluable assets to any organization lucky enough to have them.

Srinath is not just a Data Analytics Project Manager; he is a visionary who transforms data into action, and their story is a testament to the limitless potential of this field. As data continues to shape our world, individuals like Srinath will undoubtedly play an increasingly pivotal role in shaping our future. “Data Speaks for Itself”

AdTech Leader Truvid Launches New Content Offering, ‘24 Data’

Content innovation and creativity are prerequisites to thriving in the adtech space. Backed by forward-thinking minds to transform these ideas into reality, the leading adtech players continuously adapt to market and consumer trends to stay ahead of the curve in a continuously evolving tech and business ecosystem.

Truvid, a video advertising technology solution that delivers a unique, technological-driven platform through state-of-the-art video experiences, announces the launch of 24 Data, offering live, data-driven insights in real-time in various languages. Known for its progressive approach to pushing barriers, Truvid’s newest content offering is designed to supercharge every user’s video experience and provide an unmatched level of content engagement and data.

The team behind Truvid understands the pivotal role of video content in digital marketing. Through relentless innovation and creativity, their goal is to provide out-of-the-box content offerings that will optimize engagement and improve overall user experience. This served as the catalyst for 24 Data.

24 Data’s live real-time data is fully compatible with the Truvid Player, displaying up-to-date data to users while they watch videos and creating a more dynamic and interactive experience. With this integration, 24 Data helps optimize user engagement on websites. Users are more likely to stay longer, return frequently, and have a positive experience when they have access to dynamic and relevant content. 

Moreover, 24 Data has an in-house team capable of producing template videos. This means they can create pre-designed video formats that can be customized and used by each publisher to display various data, or other information in a visually compatible format with the website it is integrated with.

24 Data provides a comprehensive set of verticals aimed at enhancing user experiences on websites, including:

Weather Data: 24 Data offers completed weather data, providing accurate and up-to-date information on current weather conditions and forecasts.

Daily Horoscope Data: 24 Data is in the process of executing Daily Horoscope Data. This can be valuable content for websites targeting astrology enthusiasts or users seeking personal insights.

Live Sports Score Updates: With this feature, 24 Data provides real-time updates on sports scores, delivered to users as the events happen. This keeps sports enthusiasts engaged and informed about ongoing matches of their favorite sports teams.

CEO of Truvid, Roee Lichtenfeld said, “Truvid’s latest content offering redefines video engagement. By seamlessly integrating real-time data with the Truvid Player, users now enjoy a dynamic and interactive viewing experience. “ He explained “We recognize the instrumental role content plays for both Publishers and Content Creators in enhancing user experiences, and therefore will continue to innovate our content offerings.”

About Truvid
Truvid is a unique technological-driven platform that empowers Publishers and end-users by delivering unmatched video experiences. They’ve developed a distinctive business that enables Publishers, Content Owners, and Advertisers to instantly connect to a live video ecosystem while communicating between themselves to empower audiences around the globe.

Note on the Ad Tech Industry
The ad tech industry as a whole thrives on a dynamic combination of technological innovation and strategic creativity. In an era of digital transformation, where consumer behavior and market trends evolve rapidly, staying at the forefront of the adtech landscape demands continuous adaptation and forward-thinking strategies. Ad tech companies across the spectrum recognize the importance of harnessing cutting-edge technologies and novel approaches to create engaging and personalized experiences for users.

Chinese apps are growing in the US and UK

TikTok, the most popular of all free Chinese apps in the US, has recently made news for alleged links to the Communist Party rather than for its content.

Shou Zi Chew, the app’s CEO, testified before Congress, where he faced critical questioning concerning its parent-company ByteDance and how much access China had to the app’s data.

But, the platform is far from the first Chinese-owned smartphone app that has successfully entered Western markets.

According to Apptopia, Chinese apps occupy three spots of the top ten free mobile apps in the United States. Two of these are also among the most popular in the United Kingdom.

What makes these apps so popular?


App for video editing CapCut is frequently marketed as a companion editor for TikTok creators, and according to Sensor Tower, it was downloaded 13 million times in February alone.

The video editing software is designed for on-the-go mobile editing. It includes various tools to help your videos become viral, such as popular tunes, filters, and special effects.

ByteDance, TikTok’s parent company, also owns CapCut.


Also on the list of top Chinese apps is, Shein a global fashion company that was launched in 2012 and currently has a valuation of about $15 billion, according to Forbes.

Chris Xu, a Chinese millionaire, created the company, which is located in Singapore.

A quick search of the hashtag #Shein on TikTok and Instagram yields hundreds of videos from popular influencers bragging about their recent #Sheinhaul. It uses social media to reach out to GenZ customers with hundreds of new products at inexpensive costs every day.


Temu is another app to make the top Chinese apps links This shopping app has been available in the United States for less than a year, yet it has already surpassed Amazon and Walmart.

The internet emporium sells everything from clothing to electronics, allowing customers to avoid warehouse stores and purchase straight from the Chinese manufacturer.

The rates are so low that after the company launched an ad during this year’s Super Bowl, many Americans Googled “is Temu legit.”

The company is based in Boston, Massachusetts, but it is a PDD Holdings subsidiary, a Chinese-owned internet retailing behemoth that specializes in direct-to-consumer items.

According to analysts, the success of Chinese apps in the US is partly as a result to stiff rivalry in their native market, where US apps are prohibited.

“The Chinese software businesses have had such an intensive era of rivalry at home that has improved them, if not better, in certain ways than American apps,” said Zeyi Yang, an MIT Review journalist and researcher who specializes in Chinese technology.

Some Chinese companies have also been pioneers in building highly personalized recommendation algorithms to match the demands of users, such as those employed by TikTok and the instant messaging service WeChat.

TikTok is the first Chinese-owned app to achieve significant popularity in the worldwide market, but US politicians and national security experts have cautioned that Chinese apps may be subject to data privacy violations and censorship by the Communist Party.

The European Commission, Canada, and the UK, have all banned leading Chinese apps,  TikTok from government employees’ phones due to the same fear.

“How the United States and other democratic countries respond to the challenge of Chinese apps like TikTok breaking outside of China has profound implications for free speech and information freedom worldwide,” said Paul Scherer, author of Four Battlegrounds: Power in the Age of Artificial Intelligence.

US-based tech companies, like Apple, have fought protracted court fights to thwart government requests for their users’ data, but Mr. Scherer claims there are no such routes in China.

TikTok CEO Shou Zi Chew attempted to reassure lawmakers about security concerns by stating that there is a “firewall” in place to protect Americans.

TikTok said in a statement to the journalists that US user data was not accessible to foreign agencies. The BBC also contacted the other applications for comment.

According to Mr. Scherer, any software, regardless of which country controls it, could be subject to data breaches unless US politicians implement comprehensive data privacy regulations.

What are the other Chinese apps  on the radar?

Aside the major Chinese apps that have been banned, Chinese 5G technology firms such as Huawei, ZTE, and Hytera have been barred from installing network equipment in Australia, the United States, Japan, India, and Canada.

The UK government has ordered the removal of Huawei equipment from 5G networks by 2027.

The US and Dutch governments have prohibited semiconductor exports to China due to security concerns about the country’s supercomputing and AI technology development.

The governments of the United Kingdom and Australia have ordered the removal of Chinese-made security cameras from critical infrastructure.

Governments are concerned that Chinese corporations’ 5G equipment in international networks would feature “backdoors” for data flow back to Beijing.

China is the world’s largest producer of security cameras, thanks to businesses like Hikvision. These devices could invisibly transfer intelligence to China.

Read Also: Does TikTok pose a security risk?

According to Jake Moore, global security advisor for ESET, an internet security company, there is no solid evidence that China is exploiting its IT firms for espionage.

Boeing dragged to court on fraud charges

Boeing is being charged with fraud in two plane crashes that killed 346 people. Soon, the company will have to defend itself in court.

Problems with the 737 Max’s flight control systems led to nosedives in both accidents.

Boeing was found to have kept information about the system secret, but a trial was unnecessary because the company agreed to pay $2.5 billion (£1.8 billion) in fines and compensation.

Families of the people who died are working on getting the settlement back up and running.

It means that for the first time, Boeing will have to go to court and plead guilty or not guilty for the two crashes.

Boeing has said that reopening the agreement with the US Department of Justice (DOJ) would be “unprecedented, impossible to carry out, and unfair.” But there was nothing there about the court case.

After the 2019 crashes, Boeing 737 Max planes were put on hold. But they can fly again in the US in 2020 and in the UK and EU in 2021.

It has been almost four years since Ethiopian Airlines flight ET302 crashed just minutes after taking off from Addis Ababa to go to Nairobi. It crashed into farmland outside Ethiopia’s capital in March 2019, killing 157 people.

The plane that went down was a brand-new kind called the 737 Max.

A few months ago, an almost identical plane from the Indonesian airline Lion Air crashed into the Java Sea on a routine flight from Jakarta to Pangkal Pinang.

One hundred eighty-nine people on the ship and the crew died.

Later, it was found that both accidents were caused by flaws in how the planes were made, especially in how they used a piece of MCAS software to control flight.

The system was made to help pilots who already knew how to fly older models of the 737, so they wouldn’t have to pay for more training to fly the new model.

But the sensors stopped working, which sent the plane into a fatal dive that the pilots couldn’t stop.

US investigations found that Boeing should have put information about the MCAS system in pilot manuals or training materials. It also tried to play down the effects of the system in its talks with the US agency in charge of aviation safety, the Federal Aviation Administration.

In January 2021, the US Department of Justice charged Boeing with fraud. But the company didn’t have to go to court because it agreed to pay $2.5 billion in fines and compensation and promised to change its rules.

Many of the families of the people who died on the ET302 were very angry about this settlement, which is called a deferred prosecution agreement.

They said, and still say, that the deal was a “sweetheart deal” made without their knowledge, violated their rights, and let the company avoid being fully responsible.

The Department of Justice said the settlement was fair because it could not prove beyond a reasonable doubt that Boeing’s alleged crimes were directly linked to the two crashes.

Major milestone in the charge against Boeing

The hearing will happen after the families have spent more than a year fighting in a Texas court to change the agreement.

Boeing has been told to send someone “suitable” in its place. We will need to find out who this person is.

In the meantime, family members of the victims can give impact statements to the court or have someone else do it for them.

The arraignment hearing is a big deal for families, especially in the UK.

Joseph Wathaika, the father of Zipporah Kuria, died when ET302 went down. Since then, she has been a strong voice for holding Boeing responsible.

She will be in Texas for the hearing and says her statement will be a tribute to an “incredible” man who changed many people’s lives.

She said, “It finally feels like people are seeing us.” “It looks like the deaths of 346 people we cared about have at least some meaning now.”

“It’s not fair to hide the truth.”

Mark Pegram hasn’t been able to go to Texas because his son Sam died on the same plane. Sam worked for a group that helped people who had fled their homes. But he said he was glad the hearing was going to happen. He says that a fine and a lie are not fair.

He also said that it is important to set a precedent so that innocent people don’t die in the same way again and that Boeing needs to know how much their actions have hurt many families.

Read Also: Boeing to pay $200m in damages over charges

It is still unclear if the lawsuit will cause the Department of Justice (DoJ) and Boeing to return to their agreement not to prosecute.

It would be very weird to do this. But Robert A. Clifford, a Chicago lawyer representing the families in a separate civil case, says it could have many effects, including legal action against people.

He said that these families want Boeing to get the harshest punishment possible and that high-level Boeing employees should lose any protections they have from being prosecuted.

Jaguar Land Rover cuts production in the UK

Because of the scarcity of computer chips for new cars, Jaguar Land Rover (JLR) stops production at its Solihull and Halewood factories until spring.

Because of what happened, the company will make fewer Jaguar F-Pace and Land Rover Discovery Sport cars.

The Guardian was the first to say that the move was just for a short time.

JLR will put more effort into making money-making cars like the Range Rover.

They have made these cars in the last few months.

At the JLR factory in Nitra, Slovakia, there are no problems.

Computer chips run many systems in modern cars, like anti-lock brakes, satellite navigation, and entertainment systems.

But because of the COVID pandemic, supplies from East Asia have been very messed up, and carmakers have had to fight hard with other industries for the supplies that are still available.

In a statement, JLR said that as long as there were problems in the global semiconductor supply chain, it would “continue to manage the operational patterns of our manufacturing plants actively.”

Society of Motor Manufacturers and Traders says that even though UK car production went up in October, it is still far below what it was before the pandemic (SMMT).

It made 69,524 cars in October, which is 7.4% more than the same time last year. But the SMMT said that manufacturers are still having “turbulent” trouble getting parts.

After 20 fires, Ford recalls more than 500,000 SUVs.

Ford is calling back another 520,000 Escape and Bronco Sport compact SUVs in the United States. The National Highway Traffic Safety Administration say that cracks in a car’s fuel cell could start a fire.

Because of the problem, the company will have to call back 634,000 SUVs worldwide.

In particular, the fuel injector in some Escapes from model years 2021 to 2023 with a Bronco Sports turbocharged engine can break. This could let fuel or fuel vapor leak onto hot parts of the car and start a fire.

Ford says that people should keep driving their cars. The company thinks that only a few cars will have the problem. The company said it knows of 20 fires is linked to this new problem.

SUV hood catching fire

They recalled these identical SUVs for the same reason—they could catch fire. It announced the recall in March because there was a chance that oil could leak into parts of the car where it could start a fire.

The company says it has called back the affected cars and fixed most of the problems with cars. But that doesn’t mean they are safe from the problem in this latest recall.

Under the new recall, Ford dealers will install a software update to look for a cracked injector. If there is a crack in an injector, a warning light will show up on the dashboard, and the engine will stop running. Ford said this would help the driver find a safe place to pull over, stop, and call for help.

Ford dealers will also install a tube that will drain any fuel that leaks out of the car onto the ground and away from the hot parts of the car. But the work that needs to be done won’t cost anything to the SUV owners.

Ford said that it wants dealers to pick up and drop off cars for free to fix them. People who own cars can also take them to dealerships.

Many parts of the Ford Escape and the Ford Bronco Sport are the same. But it has nothing to do with the bigger Ford Bronco, an SUV that looks more like a truck than the Jeep Wrangler.

Facebook UK pays £29m corporation tax

Despite reporting record-breaking sales of £3.3 billion, Facebook operations in the UK paid £29 million in corporate tax last year, while its average employee salary increased to $262,000 instead.

The social network company’s most recent financial statements for its London-based division revealed that gross advertising revenue increased by more than 37% from £2.4 billion to £3.3 billion in 2017.

The second-largest participant in the UK’s digital advertising sector behind Google is Facebook’s parent company, Meta, which also owns Instagram and WhatsApp.

According to its Companies House filing, Facebook UK reported pre-tax profits of £229.5 million last year. The company describes itself as a provider of sales support, marketing services, and engineering support to the Meta Group. Over a fifth higher than the £190 million the company made in 2020, this was.

Last year, the company paid £29.8 million less in UK corporate tax than the year before, when it paid £36.7 million. Facebook reported spending £1.8 billion on engineering support, marketing services, and sales assistance.

The tax bill for Facebook UK in 2017 was £69.7 million, but the corporation paid much less due to deductions and a tax credit of more than £32 million.

During the past year, according to a Meta spokeswoman, the company continued to expand in the UK, constructing a new office site in King’s Cross [in London]. However, despite the company paying $8.52 billion [£7.65 billion] in corporate tax last year and having an average effective tax rate of roughly 20% over the previous ten years, he continued, “Under existing laws, the great bulk of this is paid in the US.”

While the UK division of Meta was on a hiring binge last year, it is now mulling employment cuts amid a downturn in growth among major digital companies.

Its personnel count increased by 37%, from 3,745 to 5,148, as the firm signed leases for two new office locations and renewed one in London.

With employees getting £458 million in share-based compensation, Facebook UK’s staff costs increased by 46% yearly to $1.35 billion. The average salary for the company’s UK employees was £262,000 last year, up 6% from £247,400 the year before.

Meta is frequently criticized for not paying enough tax in the UK, much like its internet rivals Amazon and Google.

Insider Intelligence analysts calculate that Meta received £6 billion in UK advertising spending last year.

Is Facebook flouting UK tax laws?

The UK implemented a digital services tax in 2020, which imposes 2% of gross receipts and is intended to hit big digital businesses that generate enormous revenues but report relatively tiny profits.

After the Organization for Economic Co-operation and Development mediated a deal between 136 countries, it will be replaced by a new global tax system the following year. Under it, big multinational corporations will be required to pay tax in the nations where they conduct business and commit to a corporation tax rate of at least 15%.

Meta realizes there are concerns about how multinational corporations are taxed and has long urged for reform of the global tax system, even though it pays the required amount of taxes under international tax regulations. He continued by adding that Meta hopes to see greater advancement in the implementation of the OECD tax accord, which may result in businesses like Meta paying more tax in other locations.

Earlier this week, Google paid £200 million in UK company tax on pre-tax earnings of £1.1 billion over the 18 months leading up to the end of December.

The business generated a £3.4 billion revenue for the time frame. According to Insider Intelligence analysts, Google, which also owns YouTube, earned £8.6 billion in the UK last year.

Read Also: Blenderbot makes racial and offensive comments 

The more than 5,700 employees of Google UK made an average salary of more than £385,000 over the course of the 18 months, in part because of almost £1 billion in share-based compensation.

The Evolution of Tech From San Francisco’s Silicon Valley to the Digital Free Trade Zone of Malaysia

The proliferation of mobile technology has seen the tech revolution explode in recent years as businesses move to cater to the online market. With around 5 billion mobile internet users around the globe, the race for the best software and latest developments means that the tech industry is always moving forward.

Recent improvements in AI have revolutionized content generation, process automation, and customer service and projected growth in digital markets ensures things won’t slow down for the foreseeable future.

San Francisco has been at the forefront of technological development in the U.S. since the fifties and is recognized for being one of the most significant tech hubs in the world.

In recent years, Malaysia has also grown to be a force to be reckoned with and is projected to create in excess of 500,000 jobs in the digital sector by 2025.

How Malaysia and San Francisco Became Tech Hubs

San Francisco’s Silicon Valley began in 1951 with the Stanford Industrial Park. The area featured manufacturing facilities, offices, and research labs and was a collaborative project between Frederick Terman and Stanford University.

Four years later, in 1955, William Shockley set up a laboratory here and the area became a centre for innovation. The late ’50s and early ’60s saw the space race hot up and investment in new technology skyrocketed. Military development also moved into the area which began to grow.

The 1970s and ’80s were a time when IT giants like Microsoft, Atari, and Apple were created in the area and this success continued into the ’90s and 2000s as the area became the place to be for aspiring tech moguls.

The development of groundbreaking innovations such as the microprocessor, microcomputer, and silicon-based integrated circuit can all be attributed to Silicon Valley companies.

The success stories of brands like Meta and Apple make it attractive to rich investors who want to back the next big thing in mobile technology.

While Silicon Valley grew naturally and attracted the biggest names in tech over time, Malaysia’s success was planned. The Malaysian government launched the Multimedia Super Corridor (MSC) in the late ’90s and has invested around $100 billion to create an Asian digital hub.

Malaysia has also implemented Digital Free Trade Zones where businesses can operate with minimal taxation and customs charges. This is especially attractive to digital businesses that can operate anywhere while providing high-quality services to customers and partners in other countries.

Malaysia is one of the member nations of the Association of Southeast Asian Nations (ASEAN) which creates a union between 10 countries in the region. With over 600 million people in the ASEAN, the digital hub in Malaysia offers a great option for tech startups and companies within the member states.

The main purpose of the MSC was to facilitate the digital economic market in Malaysia. The creation of a zone tailored towards IT-related industries and partnerships between MIDA (Malaysian Investment Development Authority) and MDEC (Malaysia Digital Economy Corporation) see the country on course for over a quarter of Malaysia’s GDP being attributed to the digital economy.

Malaysia permits companies that provide a range of services, including:

  • Blockchain
  • AI
  • Fintech
  • User Experience
  • User Interface
  • Robotics
  • 3D Printing
  • Cloud and Data Centre
  • Big Data Analytics

The emergence of this market and its potential to offer a purpose-built, financially viable alternative to the more expensive options in the U.S. could see a shift in tech development in the next few years.

Tech Trends and Activities in Malaysia and San Francisco

The difference in tech trends and how technology is used is often dictated by what is needed most. Following the COVID-19 pandemic, online trends and user behaviours changed and this has seen online activity increase.

Sectors like the gambling industry have seen significant growth due to in-person betting operators having to close their doors. Both the US and Asia saw an increase in user traffic and the latest technology is essential for online operators to attract new customers.

New technology, including AI to monitor player behavior patterns, is used by online casinos to improve customer service and tailor the player’s experience. While there are strict rules on gambling for the Muslim population of Malaysia, visitors and non-Muslims can make the most of new online casino technology (source: Online betting in the U.S. is determined by legislation set out by individual states. As more states permit online gambling, the industry grows and so does the market for new technology and software.

Cloud storage and AI are also set to grow and provide a variety of applications that benefit online companies. The decentralization of AI is likely to disrupt a range of different sectors with chief technology officers integrating APIs from AI services.

Automated security procedures are being implemented across the board in order to increase cloud security for providers and users. This includes rejecting code with potential weaknesses and providing recommendations on how to improve it. Security breaches can be reduced by as much as 70 to 80% by automating security, with the majority of issues stemming from system and code misconfigurations.

Whether future tech developments come from San Francisco or Malaysia is anyone’s guess, but with many companies streamlining processes and looking at the most cost-effective ways to operate, the high cost of living and tax rate of Silicon Valley could put off prospective tech companies.