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Ford expects to lose $3 billion on its electric vehicle department this year, the company announced Thursday. The company will be reorganizing its financial reporting into three distinct branches, Ford Blue, Ford Model e and Ford Pro, which will develop gas-powered, electric and commercial vehicles respectively, according to a press release. In the three years starting 2021, Ford Model e is expected to report a $3 billion loss. (RELATED: ‘Sustainable’ Electric Cars Are Getting Junked Over Minor Damage) “We’ve essentially ‘refounded’ Ford, with business segments that provide new degrees of strategic clarity, insight and accountability to the Ford+ plan for growth and value,” CFO John Lawler said.  “It’s not only about changing how we report financial results; we’re transforming how we think, make decisions and run the company, and allocate capital for highest returns.” Ford’s new structure and way of reporting earnings gives new insight into its EV business (which CFO … [Read more...] about Major Automaker Expects It Will Hemorrhage Billions From Its Electric Vehicle Business

Share to Twitter Share to Linkedin Fran Rosch is the CEO of ForgeRock , a global leader in digital identity. Passwords have become an obstacle that hinders nearly all organizations—whether you’re an employee or user accessing an application, everyone has experienced the frustration of not being able to log in. Whether they’re forgotten, weak or outdated, passwords create friction in the user journey, causing lost business revenue, exasperated customers and a decrease in workforce productivity. Forrester researchers found that the typical cost of a single password reset is $70, with the average large enterprise allocating over $1 million annually to password-related support costs. Organizations try to balance strong security with convenience but often fail to achieve either. Stronger security frustrates users and hinders their productivity. Passwords were meant to increase security, but as the attack surface has expanded with a hybrid workforce, … [Read more...] about Embracing The End Of The Password Here And Now

Share to Twitter Share to Linkedin CTO & Head of AI - Responsible for driving ethical, explainable & pragmatic AI for global customers @ Provenio AI . The Spice The power of reinforcement learning is phenomenal. It has special importance in the AI ecosystem and is unapologetically ubiquitous in nature. Reinforcement learning, simply put, is the main "spice" in tools like ChatGPT. Undoubtedly, ChatGPT has been intelligently crafted with a series of reinforcement-learning algorithms, plus more ingredients, and is no doubt taking the world by storm. People are relating to the technology by focusing on the use cases and gamifying it—the free use and access also help capture the public's imagination. But I did not like the rap song it wrote me. I'll carry that opinion to the grave. "Show The thumb And Get Your Hand Eaten" The concept of feedback economics has existed for a while. Unknowingly, we always provide feedback to systems … [Read more...] about The “Hullabaloo” Of ChatGPT

Share to Twitter Share to Linkedin Valentin Buzea CTO & cofounder of Waydev . Cycle time serves as the speedometer for engineering teams, providing valuable insights into their development process. By measuring and improving cycle time, teams can accelerate innovation, stay ahead of the competition and attract and retain the best talent. In the realm of software development, cycle time is the duration it takes for a team to complete a full cycle of development, encompassing all the necessary stages, such as design, development, testing and deployment of a software application or feature. This metric is a key performance indicator for development teams to gauge their efficiency and optimize their processes for faster delivery of high-quality software. Keeping this in perspective, cycle time can be described as the duration in which code remains "in-flight," although the definition may vary based on an organization's workflow. For some … [Read more...] about How To Measure And Improve Cycle Time

Share to Twitter Share to Linkedin Nacho is CEO of BairesDev , a nearshore tech solutions company and General Partner at BDev Ventures, a VC fund for B2B businesses. There's no doubt that we're facing some challenges right now. And with so much uncertainty—economic and otherwise—it's natural for businesses to want to be conservative with their resources and strategies. There's often pushback against innovation, anyway, and many organizations may think that now is not the time to take risks. In fact, innovating is exactly what businesses should be doing right now. Businesses that focus on "avoiding the downside" risk underperforming compared with their more innovative peers, according to McKinsey research . It's critical to keep moving forward, not just focusing on survival but looking toward growth and new ideas. It's understandable, of course, that you might face pushback to innovation. If this is a challenge you're coping with, try … [Read more...] about Facing Resistance To Innovation? Try These 5 Strategies

Share to Twitter Share to Linkedin Daniel Saunders is the CEO of L Marks . He is a technologist-turned-investor and an experienced advisor in applied innovation. For most businesses, innovation means commercializing what the R&D department invents. This approach results in what is called "sustaining innovation," where you refine your offering each year, making small but consistent gains. But focusing solely on sustaining innovation closes you off from "strategic innovations" that can disrupt markets by offering something completely new. Complacency over the difference between these two types of innovation has led successful companies to struggle, as a business can become irrelevant overnight in the face of disruptive innovations. Strategic and sustaining innovation differ significantly in the types of solutions they produce, the timescales they work toward and the level of economic returns. Businesses that have mastered different forms of … [Read more...] about Why Executives Need To Pay Attention To Strategic Innovation

Share to Twitter Share to Linkedin Aaron White is the CTO and Co-founder of Vendr. A serial entrepreneur, Aaron is based in Miami, Florida. A cyborg is defined as “a person whose physiological functioning is aided by or dependent upon a mechanical or electronic device.” Just like the cyborgs from sci-fi novels and films, a successful organization is made up of people aided by machines. As businesses shift more responsibility and production to the technology-led side of the equation, acquiring truly efficient software should take on the same importance as hiring good people. The High Cost Of Finding People Who Make A Difference While Layoffs.fyi tracked over 125,000 lost jobs in the tech space so far this year alone, it's estimated that turnover and replacement costs for an organization with 100 employees making an average of $50,000 can reach $2.6 million annually. An easier approach could be to empower and support the people already on … [Read more...] about Why A Company Is Like A Cyborg, Or The Importance Of Finding The Right People And Choosing The Right Technology

Share to Twitter Share to Linkedin John Clemons consults for Rockwell Automation and Maverick Technologies , a leading platform-independent automation solutions provider. Smart manufacturing has taken a lot of information technology and made it work in manufacturing, all the way down to the shop floor. The internet of things, artificial intelligence (AI), virtual reality (VR), augmented reality (AR), cloud computing, wireless technologies, big data and advanced analytics are all now part of manufacturing operations. They’re having a big impact on manufacturing industries, transforming them back into an economic powerhouse. The important point here isn’t so much about the technologies and their tremendous impact on industry as it is about how they are transforming manufacturing. In these articles, we’re looking at six specific ways that smart manufacturing is transforming manufacturing operations. In the companion article to this one, we … [Read more...] about Smart Manufacturing Helps Accelerate Business Growth (Part 2): Focus On Waste, Velocity And Agility

Share to Twitter Share to Linkedin Founder of DLT Labs , which pioneers blockchain enterprise solutions via distributed application architecture development and integration. Over the past two decades, several founder-CEOs have stepped down from their CEO roles at a crucial juncture in their firms. In fact, a Harvard Business Review analysis of 212 U.S. startups founded between the late 1990s and early 2000s showed that "most founders surrendered management control long before their companies went public." It stated that 50% of founders stepped down from the CEO post within three years of launching the venture, whereas fewer than 25% of founders led their firms’ IPOs. In The Hard Thing About Hard Things , Ben Horowitz, cofounder and general partner at VC firm Andreessen Horowitz, even went so far as to state that founder-CEOs are “generally much better at the first part than the second,” especially once their companies mature and become more … [Read more...] about Five Habits Every Company Founder Should Embrace

Share to Twitter Share to Linkedin When you unshackle 1.4 billion consumers who have been penned up at home for three years, it’s reasonable to expect some fireworks. For the residents of Mainland China, life under “zero COVID” policies was a dreary round of rolling travel restrictions and lockdowns – as if the United States was permanently stuck on a skipping record of the Spring of 2020. While most of the population was able to find a way to get back to work eventually, the everyday routines of travel, dining out, and visiting friends and family were severely curtailed. Wallets stayed snapped shut. Since China executed its “COVID pivot” in late December 2022, economists have been scrutinizing the data to see if the country will be able to achieve its goal of 5% growth in 2023. If achieved, China will serve as an engine to help developed economies avoid tipping into recession. This is particularly relevant in the new era of higher interest rates, … [Read more...] about Why China’s COVID Comeback Is Still In The Early Innings, With Upside Ahead