November 2024 Tech Upload
| The NEW Digital Alliance would like to thank TEKsystems and Wipfli for their support as a Strategic Level investor! |  |
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NEW Digital News
2024 Tech Summit Recap
On October 15, we gathered with IT professionals and others from across the region to explore the theme “AI’s Impact, one year later. Where are we now?” and dive deep into the evolving landscape of AI and technology. Speakers shared their insights on the ongoing impact of AI on a business, and helped to understand successful strategies for piloting and implementing AI technologies. In addition, we will heard a brief update on the recently announced action plan from the Governor’s Task Force on Workforce & Artificial Intelligence.
NWTC Hour of Code
Hour of Code is a hands-on event that aims to make computer programming accessible to people of all ages. It offers fun and interactive coding activities using easy-to-learn platforms, encouraging critical thinking and problem-solving skills. Join us and explore the world of coding and technology in an inclusive and encouraging environment.
Free AI skilling for Manufacturing Leaders
Employees of manufacturing companies located in Wisconsin – join the 8-week virtual AI training program, tailored for manufacturing professionals at all experience levels. The free training will guide you through the essentials of AI, from its history to its strategic application in the industry. Equip yourself with the latest AI tools, network with experts, and ignite innovation in your organization. Empower your career with AI—register now!
Actively accepting registrations for upcoming program launching on 2/3/25.
Learn Relevant Topics for Any Role
By participating in the AI accelerator program, professionals can gain the skills and knowledge necessary to tackle industry challenges head-on. You will learn how to implement AI solutions that can lead to increased efficiency, reduced costs, and enhanced innovation, positioning your business for success in a competitive global market.
What to Expect
This program was created to support leaders in manufacturing no matter your role or experience with technology. Each participant can earn industry recognized certifications upon completion of the coursework and exam. This training is specific to employees of manufacturing companies located in Wisconsin.
Who is eligible to participate?
This program is designed to be inclusive of employees of all skill levels within the manufacturing sector in Wisconsin. Whether you’re just starting out or have years of experience, our program offers valuable learning opportunities to enhance your understanding and application of AI technologies. This initiative is part of our commitment to fostering innovation and strategic AI adoption across the industry.
Labor Market Insights: October 2024
New job reports were just released! Here’s our labor market insights for October 2024 written by Matt Duffy, Carex Consulting Group:
While writing last month’s Labor Market Insights, my teenage daughter asked what I was working on. I was so proud – she actually showed interest in something I find interesting! With a big smile, I told her I’d send her my report. A few minutes later, she responded with – “TLDR.” Which I soon learned stands for “too long didn’t read.” To which I responded with – “TSNA” (too sassy no allowance). This month I’ll try to be less verbose.
Given the surprisingly strong jobs report, there are some headlines indicating an undercurrent of strength in the labor market. While I’m an optimist, I’m not quite in the “undercurrent of strength” camp. As I’ve said before, job openings are less predictive than other key data points (too volatile and prone to change) and taken on the surface may overstate how healthy the labor market is. Also, keep in mind job growth in 2024 has largely been centralized in just a few industries – health care, government, and construction; so, the strength in one industry isn’t reflective of overall labor market strength.
A summary of the key data points is listed below. Lumped together, they tell a numbingly boring story of consistent cooling.
So, the million-dollar question – how long until the labor market slides into a deep freeze or heats up? Like two boxers squaring off in the ring, there are two data points that are in a stare down and will determine the answer to this question – those data points are hires and layoffs. I’ve been keeping a close eye on these two points over the last several months. Both are in a precarious position – and the health of the labor market rests in their hands.
In one corner, we have the hires rate, which has dropped to just 3.3%, comparable to 2013 levels. Don’t be fooled by the new jobs and job openings numbers, both are meaningless if companies aren’t actually hiring people. The lack of hiring across nearly every sector is highly concerning. In the other corner, we have layoffs, which are notably below historical standards. The layoff rate has been at ~1% in 2024; well below the 2010’s average. If the layoff rate increased to an “average percentage,” the unemployment rate would be pushing 5% (at least).
The softening job market is moving beyond normalizing and moving into concerning territory. If the hiring rate ticks up, it’ll balance the waning numbers, and the market will start to thaw. However, if the hire rate stays flat and there’s an uptick in layoffs, we’ll see unemployment go the wrong direction and create an even more turbulent market.
There likely won’t be a knockout punch this year, but Q4 data should tell us who’s winning.
Essential Sources for Vulnerability and Threat Intelligence
Whatever framework your organization uses for risk analysis—we recommend something similar to this—understanding vulnerabilities and threats is essential to protecting your assets.
With the sheer breadth of known vulnerabilities and (potential) threats, it’s important to narrow down information into a usable amount that can be used for risk analysis efforts.
Below, you’ll find key resources to streamline your vulnerability and threat intelligence process.
Start with Vulnerability Scanning
Before you can start researching how to fix vulnerabilities in your system, you must identify which ones affect you. Ongoing vulnerability scanning provides a regular, automated review of your system that produces a report of known vulnerabilities you need to address ASAP.
HBS recommends that you perform monthly vulnerability scanning. If selecting and managing a scanning tool sounds like more than your staff can handle, you can build vulnerability scans into an information security contract with a provider like HBS and let dedicated security analysts tailor your scans and review the results.
Once you have a list of identified vulnerabilities, use the resources below to look up each by name for actionable remediation steps. HBS references the CVE ID for each vulnerability in our scan reports, making it easy to find further details (see the next section for a CVE link). For additional protection, consider Managed Extended Detection and Response (XDR), which leverages AI and machine learning to identify and neutralize anomalous behavior, extending your defense against zero-day threats.
We also recommend considering a Managed XDR solution, which brings next-gen threat detection and response to your environment. Managed XDR not only looks for known vulnerabilities, but uses artificial intelligence and machine learning to identify and shut down anomalous activity, providing additional protection against zero-day threats.
Other IT News
Cybersecurity could be ‘Achilles’ heel’ for manufacturers, report shows
A recent Wisconsin Center for Manufacturing & Productivity report warns that cybersecurity could be a major vulnerability for manufacturers, with attacks rising as automation grows and AI advances. Small manufacturers often lack robust cybersecurity resources, making them vulnerable, while larger firms are hacked more frequently. In 2023, 39% of large manufacturers and 17% of smaller ones reported cyber incidents. The report advises manufacturers to continually update their cybersecurity defenses to counter increasingly sophisticated threats.
Will AI improve our world, unravel it…or a little of both?
The article from the Wisconsin Technology Council explores the potential impacts of artificial intelligence on society, debating whether AI will enhance human life, lead to unforeseen challenges, or both. It examines how AI applications in various fields—from healthcare to logistics—promise benefits but also carry risks of job disruption and ethical concerns. Balancing AI’s opportunities with responsible development is emphasized to prevent unintended consequences while maximizing AI’s positive potential.
What is chaos engineering and how can it benefit businesses?
Chaos engineering involves intentionally introducing disruptions into systems to test their resilience, helping organizations identify hidden vulnerabilities and ensure stability during real-world issues. Originating from Netflix’s Chaos Monkey tool, it’s now popular across sectors with complex systems. By identifying single points of failure, chaos engineering can help organizations improve resilience and potentially reduce insurance risks. Experts recommend starting with small, controlled tests in non-critical environments and gradually involving application developers to build resilience-focused teams.
Enabling the next frontier of quantum computing
A McKinsey roundtable on quantum computing highlighted its transformative potential across industries, the development of fault-tolerant quantum systems, and growing in-production use cases. Quantum computing and AI could evolve symbiotically, with each enhancing the other’s capabilities. Key challenges include cybersecurity for quantum resilience and the need for a sustainable ecosystem driven by talent, cross-sector collaboration, and clear communication on quantum’s realistic potential.