Latest news with #Capgemini
Arab Times
2 days ago
- Business
- Arab Times
Saudi Ranks Among Top Destinations for Wealth Migration in 2025
RIYADH, June 27: Saudi Arabia is set to attract 2,400 high-net-worth individuals (HNWIs) in 2025, an eightfold jump from 2024, according to the Henley Private Wealth Migration Report 2025. This makes the Kingdom the fastest-rising destination globally for millionaire migration, driven by Vision 2030, major economic reforms, and investment-friendly policies. The UAE remains the global leader, with an expected 9,800 millionaires, followed by the US with 7,500. Saudi Arabia's appeal lies in its mega projects, such as NEOM, tax incentives, residency programs, and a focus on tourism, fintech, and infrastructure. Cities like Riyadh and Jeddah are key hubs for inbound capital. The report highlights a broader shift in global wealth flows. The UK is expected to lose 16,500 millionaires—the highest net outflow—amid rising taxes and tighter regulations. Other countries losing HNWIs include China, France, Spain, and Germany. Meanwhile, Southern Europe—notably Italy, Switzerland, Portugal, and Greece—is emerging as a new wealth haven. Asian hubs like Thailand, Japan, and Hong Kong are also gaining, while South Korea, Vietnam, and Pakistan face net outflows. Henley & Partners and Capgemini both underscore the Middle East's growing appeal to global investors, citing its economic stability, security, and strategic location. Saudi Arabia, in particular, is becoming a key player in the global wealth migration landscape.
The Guardian
3 days ago
- General
- The Guardian
Youth need new skills and support to fight the climate crisis
Young people are most at risk from climate change and eager to respond. But they need the right skills and support to shape a sustainable future Younger generations want careers to match their values. In fact, 53% of people aged 16 to 24 say they are keen to work in jobs that help the environment. That's more than 600m people stepping up to shape a sustainable tomorrow. The insight comes from Capgemini's recent report, Youth perspectives on climate: preparing for a sustainable future, co-developed with Unicef's Generation Unlimited. It is based on a comprehensive survey of 5,100 youth across 21 countries, spanning global regions and various socioeconomic backgrounds. Optimistic and eager to get involved, this generation represents a force for decisive action. However, there's a gap between motivation and ability. While the majority of youths believe that green skills are essential and will lead to career opportunities, most of them feel ill-equipped to lead the sustainable transition. Seeking future-ready skills Although knowledgeable in some areas, younger generations are less confident in disciplines such as climate technologies, data analysis and sustainable design. Only 44% feel equipped with the skills needed to thrive in a green workforce. And there is an unequal access to resources and opportunities across the global north and global south. This inequity and lack of skill-building is holding us all back. This survey also revealed that young people are increasingly worried about the future of our planet. Back in 2023, 57% of them reported 'eco-anxiety' – one year later, this number jumped to 67%. Yet, despite this anxiety, almost three-quarters believe there is still time to address climate change. Advancing education on sustainability As young people prepare to step up and help to shape a sustainable tomorrow, businesses and governments need to support them from early on through robust education. Existing education initiatives on sustainability can be democratised and deepened. Integrating sustainability into core educational curriculums as a formal subject can ensure a unified approach and support educators in strengthening their own ability to teach key skills. Investing in this kind of teacher training is particularly important in local programmes and underserved communities. Brazil is leading in sustainability education – in 2024, their National Environment Education Policy officially recognised climate change and biodiversity protection as formal subjects. Brazil aims to have fully implemented a nation-wide climate curriculum by the end of 2025. Education can extend beyond the classroom and into the workforce. In 2022, Capgemini launched its Sustainability Campus to facilitate learning and development in this vital area. Accessible to all 340,000 employees, the programme offers specialised training for key roles, as well as industry-specific training modules and deep-dives on crucial topics. Since September 2024, the Global Awareness Module, the introductory course, has been made mandatory for all Capgemini employees. Opening avenues to green employment Policymakers can also pair national climate goals with robust youth employment strategies. Different types of work-based pathways exist, from training to employment – such as green entrepreneurship, youth-led sustainability projects, apprenticeships and volunteerism. Beyond simply offering these options, policymakers can further incentivise them, enabling youth to align their values with their economic needs. Initiatives such as Green Rising are leading the way in sustainability innovation for young people. This global movement helps young people take grassroots action to build a clean and healthy environment through volunteerism, advocacy, skills, jobs and entrepreneurship. It's led by Unicef Generation Unlimited and supported by public-private youth partners, of which we're proud to have been among the first. Capgemini CEO Aiman Ezzat even joined the board of Generation Unlimited in 2024. Engaging young people in decision-making If young people feel business and political leaders are not taking enough action on the climate crisis, they may disengage altogether. By intentionally and meaningfully including young people in decision-making, leaders are better positioned to gain their trust. With their trust comes young people's drive, fresh ideas and action. Options could include formally embedding young people in climate policymaking and corporate strategy development through youth councils and structured feedback mechanisms. Solidarity across generations Sarika Naik. Photograph: PR Today's young people are taking action for their future in the shadow of climate change. All generations share the responsibility to support them – let's step up to the plate together, and build a future where young people are empowered to drive a better future. This content is paid for and supplied by the advertiser. Find out more with our
The Hindu
4 days ago
- Business
- The Hindu
Digital continuity critical for aerospace & defence under uncertain geopolitical environment: Capgemini
Digital continuity is a critical imperative for aerospace and defence organizations to thrive in today's challenging and uncertain geopolitical environment, reported Capgemini, a French tech firm on Tuesday (June 24, 2025) In the context of rising costs, supply chain instability, and geopolitical movement, investments in digital continuity were expected to increase to 3.4% by 2028, the firm said. In 2024, A&D organisations on average allocated 2.1% of their annual revenue to these initiatives, to ramp up production, accelerate development cycles, reduce operational costs, and stay agile amid global pressures. According to the firm, the majority of A&D leaders (80%) view digital continuity as a driver of business transformation and a route to gaining a competitive advantage. 'If it is embraced as a way of working, it will help organisations increase productivity and free up key resources from the waste created by disconnected systems and data. Ultimately, it enables operational excellence, reduces product development cycle times and fosters a collaborative culture, setting A&D players up for long-term success,'' said Lee Annecchino, Global Industry Lead, Aerospace and Defense at Capgemini. The readiness of defence organisations to ramp up production could be driven by geopolitical uncertainty and technological and infrastructure investment, including a more flexible manufacturing execution system (MES), and a more resilient supply chain, the firm further said.
Finextra
5 days ago
- Business
- Finextra
Mounting geopolitical tensions underscore the need for public cloud diversification
0 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. Today's industrial revolution, also known as Industry 4.0, is characterised by smart systems, artificial intelligence (AI), internet of things (IoT), advanced robotics, and automation. If these innovations are the locomotives of Industry 4.0, then their fuel is data. Be it customer behaviour, engagement, attitudes, or personal information, data – and access to it – is what enables today's financial institutions (FIs) to conduct their daily operations, comply with regulation, and bring new products to market. Increasingly, as a break from the traditional paper-mountain model, banks are turning to public cloud service providers for support with data management. Resources like servers, storage, and applications are extended by third parties over the internet – enabling banks to benefit from scalability, cost-effectiveness, convenience, and on-demand IT services, without having to erect hardware. This is a booming industry. By 2030, the global public cloud market could reach $1.6 trillion, with a projected compound annual growth rate (CAGR) of around 20% in some regions. This level of growth is reflected in adoption rate. According to a study by Capgemini, 91% of banks and insurance companies have initiated their cloud journeys – a significant increase from 2020, when it was only 37%. Soon, almost every large bank on the planet will be dependent on cloud services – with some expecting to move over half or more of their IT footprint in the next few years. But the cost of public cloud services is not just financial. To access all the benefits that cloud brings to back-end operations and customer experiences, FIs must make a noteworthy sacrifice: exposure to geopolitical risk. The big three: A market monopoly? US-based public cloud service providers – particularly the 'big three', Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP) – capture a substantial portion of the global cloud market; with some estimates reaching almost 85%. This dominance has caused commentators to ask whether the cloud computing market is anti-competitive, and regulators have responded. In March 2023 the United States' Federal Trade Commission (FTC) requested information from the public on cloud computing companies' business practices – including details on their market power, competition, and the potential security issues. By all accounts, the formal process is still in the works. The UK's Office of Communications (Ofcom) responded too, recommending an investigation by the Competition and Markets Authority (CMA) due to its concerns of monopoly. An independent inquiry group published provisional findings in January 2025, recommending that the CMA board officially investigates AWS and Microsoft. On 17 June 2025, in attempt to ease growing concerns over data sovereignty, Microsoft previewed a range of new cloud computing services tailored for European governments and organisations. In a press release Microsoft noted that 'all remote access by Microsoft engineers to the systems that store and process data in Europe is approved and monitored by European resident personnel, in real-time.' Google, for its part, has also carved out a 'safe space' in Europe for nations nervous about US reach – offering an 'air-gapped solution' with strict data residency requirements. And, to meet a similar demand from its customers, AWS recently announced a European Sovereign Cloud (ESC) rollout, with a locally-controlled parent company and three subsidiaries incorporated in Germany. The initiative is due to go live by end-2025. Whether these developments will be enough to placate institutions' concerns about European data remaining within the bloc and under local control, remains to be seen. A warning shot: The felling of ATB On the issue of competition, free-market purists might argue that, at least in theory, the dominance of a few cloud service providers is inconsequential, and issues will eventually be smoothed over by the attrition of supply and demand. However, one only has to look at cases such as Amsterdam Trade Bank (ATB)'s, which in 2022 had its access to cloud services blocked by Microsoft as a result of US sanctions, to appreciate why concerns in Europe are mounting. Though it was alleged that ATB had ties to Russia (and sanctions may therefore have been warranted), its example at the very least reveals that many Europe-based institutions are exposed to some level of geopolitical risk – and therefore must look to diversify their stock of public cloud providers. Without access to emails and customers' data, ATB's operations ground to a halt and it was compelled to file for bankruptcy. The felling of ATB took place on Joe Biden's watch. As a result of Russia's invasion of Ukraine on 24 February 2022, Biden's administration sought to ratchet up sanctions on Russia via an extensive banking crackdown. According to the BBC, by December 2023, Biden had signed an executive order that imposed sanctions on banks dealing with about 1,200 individuals and companies deemed to be supporting Russia's war machine. These measures continued to expand into 2024, exposing 4,500 financial entities to the risk of being cut off from the US financial system. With the Trump administration now holding these very same levers of power – and able to issue sanctions by simply declaring a national emergency under the International Emergency Economic Powers Act (IEEPA) – we might ask the question: Could the US administration's sympathy for Russia's designs in Ukraine, and trade-war fuelled antipathy with EMEA, ever cause the crosshairs to land on Europe? Though the likelihood of a full-scale financial war between the US and Europe is vanishingly small, the geopolitical risks are not non-existent, and institutions are responding accordingly. In March 2025, European cloud providers, including Aruba, IONOS and Dynamo, introduced the Sovereign European Cloud API (SECA) amid rising sovereignty concerns. The SECA is Europe's push for new open application programming interface (API) standards in cloud infrastructure management. Diversifying risk with European providers The first and most obvious means to guarantee long-term operational stability is for Europe's banks to diversify their public cloud providers – ensuring they have a balanced, regional spread. This safeguards against not just political risk, but physical risk to data centres. According to CrowdStrike's 2025 Global Threat report, state-backed operations surged last year, with some industries seeing a 300% spike in targeted attacks. Moreover, in its April 2025 Geopolitical Risk dashboard, Blackrock hones in on threats to cloud infrastructure and the potential for cyber risks to increase in conflict zones and election cycles – finding the likelihood of major cyber attacks 'high'. Regrettably, the stock of Europe-based public cloud service providers is limited, essentially leaving EMEA banks with a choice between established cloud services but high levels of exposure to US tech; or a fledgling European cloud service and low exposure to US tech. Given the modern consumer's demand for instant and digital services, the legacy method of data management is not an option for institutions that wish to remain competitive. Some of Europe's biggest public cloud service providers include OVHcloud, Scaleway, Hetzner, UpCloud, Exoscale, and gridscale – and each have different strengths and governance models. Regions leading the development of these services include the European economic powerhouses, France and Germany, as well the Nordics. Whether Europe's cloud providers will develop the scale needed to fully compete with their US counterparts is unclear. While many argue this is unlikely given the EU's shifting focus – from investment in technological infrastructure to investment in the military-industrial complex – the UK government's Strategic Defense Review 2025 signalled that it would measure success in the number and scale of dual-use technology firms. This could mean pairing cloud with quantum innovations – to which No. 10 has just pledged £500 million. In such a scenario, homegrown public cloud services would prove invaluable and fall into the dual-use bucket. There is of course also the European Cloud User Coalition (ECUC), which was established in January 2021 to develop common security standards and best practices for the use of cloud technology in the EU. The initial coalition included Allied Irish Banks, BAWAG Group., Belfius Bank, Commerzbank, Deutsche Börse, EFG Bank, Erste Group Bank, Euroclear, ING, KBC Bank, Swedbank and UniCredit. At the time of the ECUC's launch, Kerem Tomak, chief analytics officer and initiative lead at ING, said that the coalition 'enables [banks] to adopt a hybrid cloud setup for analytics and AI, that brings us up to par with the fintechs and bigtechs of this world. It allows us to improve our digital capabilities and offer customers better, faster and more personalised experiences." Later in 2021 the ECUC published a positioning paper which advocated for the safe and compliant use of public cloud technology. The paper serves as a roadmap for the industry – outlining best practices and recommendations for cloud adoption. Unfortunately, it is not legally compelling, and many banks remain overexposed to US tech. A special (and strained) relationship The gradual migration of EMEA banks away from US public cloud providers is part of a broader schism between the economies of the US and the EU. Triggered by President Trump's Independence Day on 2 April 2025, North America unmoored itself from the international rules-based order – of free trade, globalisation, and mutual dependence – which it helped establish in the wake of the Second World War to boost security and prosperity. The deluge of tariffs created shockwaves in the bond markets, and, though the US dollar remains the world's currency reserve, led to murmurs of de-dollarisation. Waning faith in the US economy began to manifest in other areas, including industry and investment. Indeed, institutions are now wary of tying themselves too closely to the administration – be it the Ministry of Defence and US military contracts, or banks and public cloud services. The opportunity for Europe's cloud market No matter to what degree these geopolitical concerns are founded, FIs are by nature risk-averse entities – and especially wary today, as the global economy teeters on the edge of recession. With conflicts around the globe increasing in number and intensity, EMEA's banks will need to continue diversifing their geopolitical risk when it comes to the cloud. This spells good news for the European public cloud market and will render it a highly strategic and dynamic space in the coming years.
Mint
5 days ago
- Business
- Mint
Will private 5G networks take off, finally? Fresh demand study soon
Captive 5G networks that failed to take off despite three years of 5G may get a leg-up with the Centre weighing the case for allocating spectrum directly to enterprises, a demand that faced resistance from telcos before. The government will soon assess the demand for such dedicated networks, two people familiar with the plan said, promising seamless automation and operational efficiency at sprawling factory premises and corporate campuses. Once the demand studies are done, the government will decide how to allot spectrum to such companies, whether through auctions by direct allotments. 'Enterprises have expressed concerns that telecom operators are charging them higher prices to set up their private networks. Also, they have said that there are also security concerns if they give contracts to telcos," one of the two people said on the condition of anonymity. Idea reborn The government has toyed with the idea before: In 2022, 20 companies including Infosys, Capgemini, GMR, Larsen & Toubro, Tata Communications, Tata Power and Tejas Networks had moved the Department of Telecommunications (DoT) for spectrum, primarily in the 3,300-3,670 MHz band; however, the DoT did not act on these requests at the time. Also read | Jio, Bharti-backed OneWeb get breather as India extends deadline for provisional spectrum use "The government is evaluating which spectrum band can be allocated, and what will be the mode of spectrum allocation - auction or non-auction. In the case of a non-auction route, Schedule 1 of the Telecom Act would need to be amended," the second person said on the condition of anonymity. Schedule 1 of the Act outlines specific purposes for which the government can assign spectrum without an auction. Private networks that operate in a closed environment could benefit a diverse set of industries such as automotive, manufacturing, coal & mines, ports, and fast-moving consumer goods. 'The potential of private 5G, or captive non-public networks (CNPN), in India is still emerging due to regulatory considerations, spectrum access arrangements, and cost factors," said Sandeep Arora, industry platform leader for telecom, India at Capgemini. 'A direct spectrum allotment to enterprises could catalyze the adoption of private 5G in India," he said, adding that the model is gaining traction across Europe and parts of Asia-Pacific. Read this | Telcos slam Trai's satellite spectrum pricing as unfair, call for comprehensive review Queries emailed to the Cellular Operators Association of India (COAI), Infosys, Tata Communications, GMR, L&T, and DoT on Monday remained unanswered. Opposition Telecom operators have earlier opposed direct spectrum allocation to enterprises, claiming it would create an uneven playing field and allow technology firms an indirect entry into providing 5G services to businesses. In fact, COAI had said that telcos are fully equipped to meet enterprise demand for 5G applications through spectrum leasing and network slicing. 'It is almost a ₹10,000 crore market," said Rakesh Bhatnagar, director general of Voice of Indian Communication Technology Enterprises (VoICE), which represents companies like Tejas Networks, VVDN and HFCL. "There are a lot of areas - steel plants, ports, refineries, etc, where there is no reliable communication facility and there is a requirement of private 5G, Bhatnagar said, urging direct spectrum allotment which will not only reduce the dependence on licensed operators but also significantly reduce costs. 'We already have over 10 domestic design-led players capable of deploying private 5G networks," he said. Three years since the debut of 5G in the country, enterprise adoption of private networks has been slow. Among the reasons: Higher costs, security concerns, and the absence of compelling use cases such as internet of things (IoT). Additionally, many enterprises have found that 4G networks and Wi-Fi solutions are sufficient for their automation and connectivity needs. Also read | Next-gen gadgets, WiFi speeds to get boost as India to open up new spectrum Capgemini's Arora echoed Bhatnagar's views. 'Depending on the spectrum band and deployment scale, enterprises could see savings in the low to mid double-digit range. This shift would democratize access to private 5G, making it viable not just for large conglomerates but also for mid-sized businesses eager to embrace digital transformation." 'No harm' 'There is no harm in giving the option of direct spectrum allotment to the enterprises. It seems that enterprises do not want to depend on telcos for implementing critical operations like automated factories, robotics, etc, where there cannot be any lag on service quality and connectivity," said Satya N. Gupta, former principal advisor at Trai. He added that cost is expected to be high for these enterprises if an auction method is decided, but spectrum assignment through non-auction route can be cost-effective. According to Gupta, the 6 GHz band, which will be opened up for licence-exempt use by the government, could also be used for captive 5G networks. On direct spectrum allotment, industry executives said the most suitable bands would be those already earmarked for 5G use - the mid-band and millimeter wave band, which balance coverage and capacity. However, the move could hurt telcos which wanted to monetize their spectrum by setting up private networks for companies, an industry executive said on the condition of anonymity. Also read | OneWeb seeks more time to meet satcom security norms as spectrum allocation nears According to a report by the Global Mobile Suppliers Association (GSA) in February, India has only 10 private networks compared to 325 in the US, 101 in Germany, 65 in the UK, 55 in China, and 43 in Japan. The association counts companies such as Apple, Intel, Ericsson, Nokia, and Qualcomm as its members. 'There are 80 countries around the world with at least one private mobile network. We note a strong, positive correlation between the number of private mobile network references and countries with dedicated spectrum," GSA said in the report. Private networks Some private 5G projects announced in India include Airtel 5G network project at Bosch facility for high-speed connectivity and automated manufacturing; and Airtel-Tech Mahindra partnership to deploy captive private network at Mahindra's Chakan facility. Recently, state-run BSNL tied up with a homegrown startup Tidal Wave to deploy private 5G networks at different Coal India facilities, which includes connectivity for critical communication, vehicle tracking system and fuel management sensors. In 2022, when the Telecom Regulatory Authority of India (Trai) shared its recommendations on 5G spectrum auction, it had recommended four options for captive networks; one, allowing enterprises to use a network slice from telcos; two, take the services of private networks completely from telcos; three, give enterprises the option of taking spectrum on lease from telcos; and four, direct spectrum allotment to companies. In May 2023, DoT chose to go ahead with the first three, skipping the last. In its latest recommendations to the DoT on 17 February, Trai has proposed introducing a CNPN provider authorization under Section 3(1)(b) of the Telecommunications Act, 2023. This would grant enterprises the right to establish, operate, and expand private 5G networks without relying on telecom operators. And read | Trai recommends 4% of adjusted gross revenue as satcom spectrum charges; 5-year spectrum term During the 5G auction spectrum consultations in 2022, FMCG-major ITC had asked for reserving dedicated spectrum for the enterprises to deploy a private network in order to fulfil affordability, reliability, continuity, flexibility, and security requirements of the business. 'ITC should be allowed to build the private cellular network with their in-house capabilities for Industry 4.0 initiative to harness the full benefits of Industry 4.0 to the economy in a time-bound manner. Spectrum for private 5G networks to the industry should be allocated directly by the spectrum managing agency (government-backed entity) in various geographies on an administrative basis at a nominal fee," the company had told Trai.
