Looming Tech Market Crash?By Cinthya Alaniz Salazar | Thu, 08/11/2022 - 09:00
This week, the NASDAQ dropped 30 points, a possible indicator of a looming tech market crash but, while painful, Latin American companies are expected to survive. Meanwhile, the US and China vie to become global leaders in semiconductor chip manufacturing.
Industry leaders also covered ongoing trends relevant to the digital transformation including: cybersecurity, data visualization and sustainability.
This week in Technology news and developments:
The digital transformation has drastically increased data interaction, processing and storage capacity needed by companies. To meet this acute demand, Vertiv is aiming to augment their productive capacity as needed to support the ongoing evolution of Mexico’s technology ecosystem, said Felipe Sandoval, Global VP of Industrial Transformation, Vertiv.
There is a comparable 2000 dot-com bubble on the horizon, as evidenced by plummeting technology stocks across the globe. While the expected recession may be painful for Latin American technology companies in the short-run, they will survive and even flourish, said Courtney McColgan, Founder and CEO, Runa HR.
Phishing attacks, one of the cybercriminals' preferred channels for gaining organizational access, have been on the rise during the past year. As social engineering attacks continue to evolve, Juan Carlos Carrillo, Director, PwC Mexico, explained what company security leaders should know and how they can fortify their controls.
Despite a concerted effort to collect a wide range of data, a majority of companies have yet to extract its full potential. Altair Engineering wants to help. “Our platform can easily process this data to create connections, neurological networks and dashboards to see what is happening in real time,” said Ottmar Kappes, Country Manager, Altair Engineering.
The internet has revolutionized how people live, but powering and enabling life online comes with a catch: approximately 1 percent of global electricity demand. In light of net-zero commitments, companies need to advance and expand sustainability efforts, said Claudio Baumann, Director of Latin America, Akamai.
The US and China are strengthening their domestic semiconductor manufacturing industries in an attempt to dominate the market, says Kenton Thibaut, Resident China Fellow, Atlantic Council's Digital Forensic Research Lab in Washington DC. Despite these efforts, because the manufacturing process is multifaceted and specialized it may not be possible to gain supremacy in this supply chain.