LEADING A TECH BUSINESS
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New Wave of IT Freelancers Prefer to Tackle Digital Projects, Then Move On |
Facing economic headwinds, companies are filling gaps in IT teams with freelance software developers, coders and other high-skilled tech workers, while pulling back on efforts to recruit full-time staff, recruiters and industry analysts say. The number of job postings for software developers on Freelancer.com rose 54.7% in the third quarter on a year-over-year basis, the sharpest gain among 2,000+ job-related skills tracked on the platform. Demand for freelance coders rose 45.5%, followed by back-end developers, up 37.7%, the firm said.
Beyond cost-cutting efforts, employers say they are responding to a growing talent pool of IT freelancers with niche skills in areas like artificial intelligence, which can be tapped for specific, short-term enterprise-technology tasks. Many of these workers increasingly prefer to tackle advanced digital initiatives, then move on, rather than be tied to a single employer, said Balaji Bondili, a managing director at Deloitte. To stay competitive, he said, "companies need access to these specialized freelancers." On top of being drawn to unique tech challenges, a growing number of IT freelancers prefer the more flexible hours and remote-work opportunities they became accustomed to during pandemic lockdowns, said Tim Herbert, chief research officer at CompTIA. (https://www.wsj.com/articles/souring-economy-gives-tech-freelancers-a-lift-11665608271
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Tech Unemployment Rate Falls to 2.1%, Countering Fears of a Slowing Economy |
In September, the tech unemployment rate dipped to 2.1%, down from 2.3% in the previous month, signaling sustained demand for tech skills, according to a CompTIA review of U.S. Bureau of Labor Statistics. The national unemployment rate also fell month-over-month, hovering at 3.5% even amid fears of a slowing economy. Tech positions have long dominated in-demand job categories. Recent numbers show this resilience holds true even amid stock market sell-offs or targeted layoff cycles in some areas of big tech earlier in the year. Tech employment growth contradicts the prevailing sentiment of a slowing economy, said Tim Herbert, chief research officer at CompTIA. "We can infer from the data that aggregate demand for tech talent remains strong enough to offset any pockets of weakness," he added. As companies shape 2023 budgets, technology is expected to survive looming cuts. Just 6% say they plan to trim their tech spending, the analyst firm found. To expand their ability to attract employees, some employers are dropping technology degree requirements, favoring instead certification programs in specific fields. (https://www.ciodive.com/news/technology-unemployment-numbers/633637/)
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Small Businesses Need More Help with Tech - 5 Ways to Get It |
How do you know what systems or services to buy if you're part of a small business that doesn't have a seasoned IT professional on your payroll? A recent article elaborates on these five suggestions from the experts: Consider a temporary fix; Join industry associations; Look for specialist schemes; Get yourself out and about; and Be prepared to approach big businesses. (https://www.zdnet.com/article/small-businesses-need-more-help-with-tech-here-are-five-ways-to-get-it/)
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Top Tech Skills to Secure a Career During a Recession |
Employees with cloud, software development, and IT security skills are most likely to be safe from layoffs and other workforce pressures caused by a recession over the next year, a survey of IT leaders has found. According to Robert Half's 2023 Salary Guide, business leaders who remain focused on expanding, accelerating and protecting their IT investments over the next 12 months, despite many companies preparing to feel the squeeze of an economic downturn, will be more successful. In fact, 79% of chief information officers and chief technology officers report feeling 'very confident' about their company's growth prospects in the year ahead, citing efficiency and productivity (31%), computing initiatives (26%), digital transformation (24%), and blockchain and Internet of Things projects as their top strategic priorities for 2023. (https://www.zdnet.com/article/these-three-tech-skills-could-help-recession-proof-your-career-say-bosses/)
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AREAS TO WATCH
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AI Software Spending Set to Nearly Double by 2025: Forrester |
Global enterprise spending on custom and off-the-shelf AI software will reach $64 billion by 2025, a new Forrester report projects. The category is set to rise from $33 billion in 2021. Growth in this category will outpace that of broader software spending, with compound annual growth rates of 18%, compared to software's 12%. AI software spending will make up 6% of total spending on software by 2025. Three key categories will drive spending in this subset of software: AI-infused software, AI maker tools, and AI-centric software. (https://www.ciodive.com/news/ai-software-spending-forrester/634158/)
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Masimo Unveils First Watch to Offer Accurate, Continuous Health Data |
Masimo announced the full market release of the Masimo W1 health watch for consumer use, providing for the first time in a watch format, accurate, continuous monitoring of oxygen saturation (SpO2), as well as pulse rate, respiration rate, and more, and, in a limited market release, hydration index - for consumers wanting to better understand their overall health, improve their fitness, or share their health data with friends and family. The wearable takes 86,400 measurements a day for second-by-second trending. (https://www.masimo.com/company/news/news-media/#eccc62f2-a423-4e81-a064-57ddc48c8a13)
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TECH & GOVERNMENT
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White House to Raise Cyber Standards for Healthcare, Water & Emergency Communications |
The White House has picked healthcare, water, and emergency communications as its next critical infrastructure focus areas, with the aim of raising minimum security standards, Anne Neuberger, the White House deputy national security advisor for cyber and emerging technology, said recently. "We're now recognizing we very much need to do that in the U.S.," building on what the administration has seen happen in recent ransomware attacks, including those against U.S. hospitals. At the end of October, the Cybersecurity and Infrastructure Security Agency will also roll out minimum security standards that can apply to organizations across sectors. (https://www.cybersecuritydive.com/news/white-house-cyber-standards-healhcare-water-emergency-communications/634146/)
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