Latest news with #SiliconValley-based
Scroll.in
15 hours ago
- Business
- Scroll.in
‘My boss is the app': Venture capitalists fuel boom in worker surveillance technology
This article was originally published in Rest of World, which covers technology's impact outside the West. Technologies that promise to track, manage, and supervise workers, increasingly using artificial intelligence, are getting entrenched in the developing world, according to a new report by a labour rights nonprofit based in New York. Audits of more than 150 startups and regional companies based in Kenya, Nigeria, Colombia, Brazil, Mexico, and India showed workplace surveillance is expanding in scale and sophistication, the researchers said. While large corporations are known to develop surveillance technologies, a so-called Little Tech ecosystem of mostly unregulated, venture capital-funded startups and small vendors making these products has grown since Covid-19, the report found. The term 'Little Tech' was popularised by the VC firm Andreessen Horowitz, which argued that excessive regulation was stifling innovation. Algorithmic management and surveillance tools are getting even more intrusive in gig work, and are entering offices and the informal labour sector as well, Wilneida Negrón, director of research and policy at and a co-author of the report, told Rest of World. 'The pressure of the hyper-surveillance creates a lot of stress and creates a lot of uncertainty for workers. It brings a culture of suspiciousness,' she said. Investments by Silicon Valley-based VC firms led to a boom in tech startups globally after Covid-19, Negrón said. This has carried over to companies building bossware products in the developing world, she said. The technologies include biometric tracking, AI-powered productivity monitoring, and predictive analytics, the report found. Worker data is continuously collected and analysed by algorithms with the stated aim to improve hiring, evaluate performance, and optimise processes. Most managers in wealthier nations say algorithmic management tools improve their decision-making, according to a 2024 survey of over 6,000 employers by the Organisation for Economic Co-operation and Development. More than 90% of American managers used such tools, especially to reward or sanction employees. Many tools are first deployed in Latin America, where labour laws are less strictly enforced, according to Ayden Férdeline, a tech policy researcher in Berlin and a co-author of the report. 'There is a Latin America testing ground for products,' he told Rest of World. 'If they are successful, they tend to be deployed in other jurisdictions, oftentimes with additional safeguards, sometimes not.' Many workers are unaware of how their information is collected and used, Férdeline said. Some gig workers in Kenya, Guatemala, and Brazil said bossware tools make them feel surveilled, and that they have less control over their work. In Porto Alegre, Brazil, Uber driver Carina Trindade told Rest of World she feels the app monitors her continuously, tracking her speed and braking patterns. The app has permissions to access her mic and camera, she said. Uber spokesperson Gabriel Gabira said drivers have the option to record trips and privacy terms are followed to access the footage. In Nairobi, Godfrey Sanya Wanga, a driver for ride-hailing firm SafeBoda, told Rest of World he felt the app undercharged a customer. 'I really wanted to ask [the customer] to pay me more, but I remembered that I was being monitored and this would bring me trouble if the client reported me,' he said. SafeBoda did not respond to a request for comment. Several nations have data protection and privacy laws, including Brazil, Nigeria, and Kenya. But enforcement is inconsistent, the report said. Here are five current uses of algorithmic management tools. The companies mentioned below did not comment, unless otherwise stated. 1. Timekeeping and attendance systems What: Platforms that track the attendance of workers, often using geolocation and biometrics to verify presence. Example: Rankmi, based in Chile, uses biometrics and geolocation to track workers. The platform also gives workers continuous performance feedback and evaluates job applicants using AI. 2. Biometric and identity verification tools What: Tools that use fingerprint and facial-recognition checks, special digital signatures stored on a secure network, and official records to confirm a worker's identity before granting access. Example: Cincel, based in Mexico, provides identity verification tools that do various checks including biometrics, and also cross-check against government databases and blacklists. 3. Performance and productivity monitoring platforms What: Dashboards that score workers using tracked metrics such as keystrokes, transaction counts, customer interactions, and task completion times. Example: Ahgora, based in Brazil, offers HR software that allows managers to continually 'oversee team attendance in real-time' and that tracks productivity. It uses the data to offer predictions about work, such as potential issues with attendance, which can inform decision-making. 4. Algorithmic management and predictive analytics What: Platforms that automate HR functions, such as hiring shortlists, performance reviews, attrition forecasting, and also unionisation-risk scoring. Example: Visier's AI-powered analytics platform analyses HR data and provides insights, including resignation risk. The platform is used by global firms including Deloitte, Accenture, and Tata Consultancy Services. Andrea Derler, principal of research and customer value at Visier, told Rest of World the platform only 'processes data that organisations load into the platform, and we are not responsible for the way the data and insights we help provide is being used'. 5. Gig economy and field workforce tracking What: Apps that use the workers' smartphones to dispatch and route deliveries. They use location, trip history, and ratings to allocate jobs and evaluate performance. Workers are managed mostly by platforms rather than humans. Example: Rappii, a Colombian delivery app, tracks workers in real time. It has auto accept, where a rider can't decline orders – and it's mandatory to qualify for bonuses. Delivery worker Carolina Ramírez told Rest of World she works 14-hour days to earn a bonus of 100,000 pesos ($25) every week, leaving her little time for anything else. 'My boss is the app. It's unfair because to earn a good salary, I have to dedicate myself almost exclusively to this,' she said.
Business Insider
18 hours ago
- Business
- Business Insider
Meta Platforms (META) to Run AI Data Centers on Wind and Solar Power
Technology giant Meta Platforms (META) is planning to power its artificial intelligence (AI) data centers with renewable energy sources such as wind and solar. Confident Investing Starts Here: The Silicon Valley-based company run by CEO Mark Zuckerberg has signed a deal with privately held clean energy provider Invenergy to supply its AI data centers with 791 megawatts more of solar and wind power, the companies announced in a news release. This is the latest deal that Meta Platforms has signed to help meet its soaring power needs as it races to bring data centers online that can power its AI technologies and applications. This is Meta's second deal with Invenergy. In 2024, Meta signed a contract with the Chicago-based renewable energy provider for 760 MW of solar electricity. The combined deals bring the companies' total partnership to 1,800 MW. Surging Power Needs Meta has also inked deals with several large solar power providers, a geothermal start-up company, and is seeking proposals from nuclear power developers. The moves come as Meta rushes to bring AI data centers online and keep up with rivals such as Microsoft (MSFT) and Amazon (AMZN). The electricity from Invenergy's solar and wind projects situated in Ohio, Arkansas and Texas will be delivered to the local grid, while Meta will receive clean energy credits associated with the new generation capacity coming online, said the companies. META stock is up 25% this year. Is META Stock a Buy? The stock of Meta Platforms has a consensus Strong Buy rating among 46 Wall Street analysts. That rating is based on 42 Buy, three Hold, and one Sell recommendations issued in the past three months. The average META price target of $714.26 implies 0.79% upside from current levels.
Time Magazine
3 days ago
- Business
- Time Magazine
TIME100 Most Influential Companies 2025: LinkedIn
With 1.2 billion members, the world's largest professional network has become an indispensable source for all things career-related. Every minute on LinkedIn, according to the company, 47 people are hired and over 11,000 members apply for jobs. LinkedIn URLs have replaced resumes in many industries. But LinkedIn isn't just the go-to job-hunting site. With the highest engagement rate in 2024 among all major social media platforms (including TikTok and Facebook), the Silicon Valley-based company has continued to dominate partly with a big push for short-form video, now LinkedIn's fastest-growing category. Between last November and January, members spent 36% more time watching videos on the platform compared to the year-earlier period. 'Video is reshaping how we communicate, learn and share ideas on LinkedIn,' CEO Ryan Roslansky posted. 'A 36% increase in viewership isn't about growth, it's a signal and a shift in how professionals engage.' Since Microsoft acquired the company in 2016, LinkedIn's annual revenue has increased almost sixfold to $17 billion—which Roslansky announced with a short video, of course.
San Francisco Chronicle
4 days ago
- Business
- San Francisco Chronicle
Intel to cut 107 Silicon Valley jobs and shut automotive unit as global layoffs begin
Intel, the Silicon Valley-based semiconductor giant, announced Tuesday it will cut 107 jobs across four facilities in Santa Clara as part of a sweeping global downsizing effort. The layoffs, set to take effect July 15, mark the first phase of a broader plan to reduce up to 20% of the company's factory workforce under new CEO Lip-Bu Tan. The job reductions will impact employees at Intel's Robert Noyce Building, along with nearby sites on Juliette Lane and Laurelwood Road, according to filings with California's Employment Development Department. The company reported that 76 positions will be eliminated at its Mission College Boulevard headquarters alone. The global cuts are part of Intel's broader efforts to eliminate more than 10,000 jobs, primarily in Intel's Foundry division, which includes both factory floor technicians and advanced chip researchers. The restructuring comes amid a prolonged slump in sales, missed opportunities in the artificial intelligence chip sector, and intensifying competition from rivals like Nvidia. 'These are difficult actions but essential to meet our affordability challenges and current financial position of the company,' Naga Chandrasekaran, Intel's vice president of manufacturing, wrote in a company-wide memo earlier this month. 'It drives pain to every individual.' In addition to the factory reductions, Intel will shutter its automotive division and lay off most of the unit's employees. Although not a central part of its business, Intel has said that more than 50 million vehicles are equipped with its processors. 'As we have said previously, we are refocusing on our core client and data center portfolio to strengthen our product offerings,' Intel said in a statement. The moves follow a first-quarter loss of $821 million and a headcount drop from 125,000 in 2023 to approximately 109,000 today.
Korea Herald
4 days ago
- Business
- Korea Herald
AI fintech startup BankX joins government program for Silicon Valley expansion
South Korean fintech startup BankX said Wednesday that it has been selected to join the Global Market Expansion Program organized by the Ministry of SMEs and Startups, paving the way for its official entry into Silicon Valley. GMEP is a government-backed initiative that supports AI- and big data-driven startups with comprehensive assistance for global expansion. BankX is one of 20 startups selected for the Silicon Valley track, which provides full funding for business development, investor pitching and localization efforts. The program will be executed by Silicon Valley-based accelerator Team of Wakers, which will offer tailored support to each participating startup. BankX's key innovation is its AI-powered app PlayPlanet — a location-based 'benefits assistant' that helps consumers find nearby promotions from local merchants and recommends the most rewarding credit card at the point of purchase. The startup says the app enables seamless payments via QR codes or barcodes, benefiting both users and small businesses. 'This is a crucial opportunity to validate our AI technology and gain traction in the US fintech market,' said BankX CEO Kim Seung-hoon. 'With full government support, we will actively pursue investor connections to fuel global expansion.'
