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tricc003

How Wearable Technology Is Transforming Event Management - 0 views

  • Many event planners continue to rely on older methods such as in-person registration and surveys to monitor attendance and gather feedback from guests, limiting their insight into the real-time status of events.
  • According to IDC’s latest forecast, the wearables market is expected to grow by 8.2 percent throughout 2018, escalating to double-digit growth in 2019 and beyond — and smartwatches are leading the charge.
  • Wearables offer an unprecedented balance of digital access and personal contact, because they can deliver quick nuggets of must-have info in a controlled environment, instead of sending guests to their phones — which incur all sorts of distractions from the event.
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  • Secure access: Wearables can also be programmed to act as electronic door locks for more secure access to hotel rooms. Guests no longer have to dig through their pockets to locate a key card.
  • Attendance: Event organizers can gain precise info not only on the number of people attending sessions and activities at an event, but who they are: VPs, women aged 18-35, or any other demographic collected at registration.
  • Concierge/VIP: Event organizers can deliver enhanced VIP treatment by tracking honored guests’ movements and greeting them with everything they need, wherever they go in the event space.
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    Events and event planners can use wearable technology like smart watches to maximize the experience of the attendees as well as gather data. One use for wearable technology at events would be secure transactions. This would allow guests to update their payment credentials and use their band for easy payment. Hilton used a wearable device at their Hilton America' Leadership Conference and saw great success.
msoma003

Augmented and Virtual Reality Make Events Successful | Smart Meetings - 0 views

  • Skip forward just a year though, and the AR and VR business is booming, especially within the events industry
  • The Macallan event adds to the growing number of alcohol marketing efforts that combine bottle labels with AR to evoke an ambiance or tell a story.
    • msoma003
       
      Involve the guest
  • Audiences are craving new and exciting ways to be entertained and marketed to, and AR and VR have been successful in these efforts
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  • they completely transform each aspect of event planning, from venue selection to audience participation
  • customized and tailored VR or AR experience, which ultimately provides for more comprehensive feedback
    • msoma003
       
      This is essential for product launches
  • Rukkus, a VR ticket vendor, allows customers to see their seat via a VR depiction of the entertainment venue or sports arena before they decide to buy the tickets, ensuring there’s no buyer’s remorse after purchase
    • msoma003
       
      Amazing love this idea. This is great for concerts
  • The New York Times VR allows users to experience stories reported by award-winning journalists via an immersive, 360-degree video experience
  • This technology is creating a rise in venue exploration; event planners can experience a potential venue without having to travel to it in person, thus saving valuable time and money
    • msoma003
       
      Great for destination weddings.
  • including Oculus Rift, HTC Vive and PlayStation VR. As far as mobile is concerned, there is Samsung Gear, Google Daydream View and the least expensive device, e Google Cardboard
    • msoma003
       
      A lot of ways to use it
  • Augmented reality provides limitless possibilities for events
  • AR is quickly becoming an event essential. In addition to saving planners time and money, AR and VR provide event attendees with more ways to interact with each other
    • msoma003
       
      Within the next few years we will see it many more events
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    This was a very interesting article, it discussed how virtual reality and augmented reality are reshaping the event industry. Many high end brands are using it in their events to immerse the attendees. Additionally it is being used pre-event by both the attendee and organizer. The attendee can use it to pick their seats at a show and the organizer can use it to inspect a remote location without having to physically be there. I believe in the next few years we will see more events take advantage of VR & AR technology.
brittsengl

5 Tech Trends Shaping the Future of Event Planning - 0 views

  • Wearable TechnologyGoogle Glass and smart watches from tech giants such as Samsung and Apple are indicative of the future popularity of wearable technology. The possibility for incorporation into event planning are endless. Wearable tech has the potential to revamp everything from the site inspection process, to food and beverage. Menu options, travel directions, appointment updates, facial recognition software and contact information are just the beginning of the very real ways that event planners will soon be able to use wearable tech.
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    This article named multiple devices such as wearable technology, Virtual Reality and Multi- Use Apps to help advance the technology that is used in Event Planning. I agree with this article completely, in that it is time for an upgrade. This will help create a faster way for planners to get the job they need done and to help them stay even more organized.
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    This article named multiple devices such as wearable technology, Virtual Reality and Multi- Use Apps to help advance the technology that is used in Event Planning. I agree with this article completely, in that it is time for an upgrade. This will help create a faster way for planners to get the job they need done and to help them stay even more organized.
ngerv001

The Pros and Cons of Restaurant Pay-at-the-Table Technology | Toast POS - 0 views

  • Pay-at-the-table apps are becoming increasingly popular among restaurants of all levels, from fast casual to fine dining
  • These apps started as a way for small businesses to streamline their payment processes and reduce technology overhead
  • And yet, many restaurants that have clung to the paper receipt model for years are moving this direction, as it saves the restaurant both time and money, increases profits and tips, and reduces waste. It also provides benefits to the customer, which makes pay-at-the-table even more appealing. 
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  • In fact, only 41% of restaurants plan to be using tablets by the end of 2017
  • While 68% of diners agree that pay-at-the-table technology improves their experience, restaurant managers and trainers will need to research and test best practices in these situations to provide the customer with the optimal experience.
  • While pay-at-the-table speeds up this process, it can make some customers feel unwelcome to sit and enjoy one another’s company.
  • 1) Technology is Expensive 
  • No point of sale system is perfect, but pay-at-the-table programs provide an option that reduces your overall spending on paper products, while also providing your customers with a sense of security. Add in the high morale due to increased tips and less wasted time, and your employees will be clamoring for pay-at-the-table options.
  • A pay-at-the-table system also gives customers the opportunity to use even more secure forms of payment like Samsung Pay or Google Wallet, which uses biometric information or passwords to securely store and transmit credit card numbers.
  • Because pay-at-the-table systems are designed using software best practices, they provide easy access to financial data for both customers and restaurants. Restaurants can connect easily to many accounting systems over an API port, automatically sending financial records and updating restaurant accounts without time-consuming and tree-killing paperwork.
  • Pay-at-the-table systems reduce trips back and forth to the POS terminal, which in turn decreases the time it takes to close the sale. This lets tables wrap up their meal and get back to their day quicker, and reduces friction due to split checks or servers multitasking while payments are being made. Some restaurants have seen increased table turn by 15 percent or more, which in turn increases revenue for the restaurant and increases customer happiness as they get to their table faster. 
  • Restaurants are some of the worst offenders for waste in general, but getting rid of paper receipts help companies reduce their overall waste and receipt expenses. Paper receipts require purchasing rolls of paper and ink cartridges, or if you choose to use thermal paper you run the risk of exposing employees and customers to BPA, a known carcinogen.
  • Pay-at-the-table gives customers a sense of security knowing that they keep control of their credit card and its financial information
  • Pay-at-the-table is an investment when you factor in the cost of enough technology to reasonably serve the entire restaurants. Despite these expenses, you may find that the initial investment pays dividends because you avoid costly software updates and the eventual expense of a specialized POS register.
    • ngerv001
       
      Convenience and efficiency should be the bread and butter behind any food operation. Restaurant owners have to worry about so many aspects from budgeting, staffing, scheduling, ordering, and everything else in between. The operational advantages with tablet POS systems are numerous. Typically tablet POS systems have a lower initial investment with hardware and software than traditional systems. This helps greatly reduce the overhead cost and improves ROI, helping restaurant owners to properly keep in line with their budgets.
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    This article details the up and coming new trend of restaurants offering customers the ability to be able to pay at their table. The article details the various pros and cons associated with the type of service and how it can benefit the customer as well as the employees of a restaurant establishment. While not perfect, there are many pros associated with a pay-at-the-table service that are hard to ignore, and it is my humble opinion that this kind of service will continue to catch on into the near future. Customers are increasingly looking for new ways to utilize technology to their advantage to be able to get in and out of a restaurant and pay-at-the-table technology definitely allows that. The companies that adopt this kind of technology will increasingly see their profits grow as well as their table turn increase.
anonymous

Advantages and Disadvantages of Technology in the Tourism Industry - 0 views

  • The hospitality, travel, and tourism industry is one of the leading sectors which have witnessed more modifications introduced approximately with the aid of using technology.
  • This is very similar to the digital tourism or e-tourism (electronic tourism). For example nowadays, in the pandemic times, people are preferring virtual tours!
  • How Technology Changed Travel Industry?  Technology gives environmentally friendly and less time-taking travel plans  Saves time by minimizing packaging via technology  Surpassing luggage barriers by using applications like Google Translate  One-Click and Book applications via social media channels and chatbots applications  Samsung Pay, Apple Pay, or Google Wallet electronic payments make digital money accessible everywhere.
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  • Furthermore, technology moreover brings about monetary problems in households considering the maximum of the technology is high priced just like computers. Those who can't have the funds to buy this form of innovation will stay in worrying lives.
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    I like how this article touched base on how the industry used more technology that other sectors. It had both positives and negatives with this new technology. The advantages only work for the ones that have the money to change with the times so not every restaurant/hotel will be able to keep up. Not many articles touch base on this.
danakissane01

Kitchen Tech: The Trends Transforming The Industry In 2021 - 0 views

  • having a digital allergen management and tracking system is going to be essential for businesses within the food and beverage sector. This will ensure that the seller can always prove that they have clearly labelled all allergens within the food they produce for direct sale.
  • With the ability to monitor customer trends and forecasts, improve data collection and check stock levels,
  • Household brands such as Samsung are integrating new technology into their kitchen appliances, so it is now essential that brands and businesses within the food and beverage sector follow suit.
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  • Utilising SmartThings technology, these fridges allow people to see what is inside their fridge, wherever they may be.
  • COVID-19 may be the pandemic that has taken over the world recently, but there are a number of other crises that will continue beyond the effects of coronavirus. Food waste and, of course, global warming are just two of them.
  • By introducing technology into kitchens, this will help contribute positively to both of these incredibly important issues, as well as reducing the UK's carbon footprint.
  • 2021 is the year to go digital and food businesses need to do more with less. Consumers are going to be even more sensitive to food hygiene standards and will choose not to dine with businesses if they feel they are not conforming to the highest levels of safety. Aiding safety and transparency, remote technologies such as in-app ordering and digitised menus should be continued to help limit the need for human contact and disease transmission. By going digital, food businesses can focus on the customer experience and let technology innovate, and take care of, many food safety procedures.
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    How technology will help kitchen in the UK.
anonymous

Point of Sale Advantages: Top 10 Reasons POS Systems are Better Than Cash Registers - 0 views

  • POS systems are easier to use and more cost-effective than ever before.
  • When your cashiers have the right tools to support how they work, your operation will run more efficiently.
    • anonymous
       
      Increased Efficiency POS help employees run transactions more efficiently because it is a more advanced system than regular cash registers.
  • Point of sale advantages also include the ability to readily accept diverse payments types including EMV chip cards, contactless payments (NFC), and mobile wallet payments such as Apple Pay, Android Pay, and Samsung Pay.
    • anonymous
       
      Expanded Payment Capabilities POS accepts diverse payment methods which nowadays is an advantage because people don't always pay with the same traditional methods, nowadays a lot of people (including myself) pay with ApplePay.
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  • POS software is simple for employees to learn, which will result in shortening training time and help them to be more productive overall.
    • anonymous
       
      Ease of Use POS not only makes things easier for the employees but it is also a simple system for them to use that won't take long to learn.
  • POS system will also give you real-time inventory data
  • POS software is going to save you hours of inventory management each week
    • anonymous
       
      Inventory Management POS is also capable of giving you a real time inventory data which means it is always updated for you.
  • Point of sale technology improves accuracy throughout your entire operation, with real-time data.
    • anonymous
       
      Greater Accuracy POS is also a very accurate system that is always up to date, there is no need for you to be updating it into other systems.
  • POS systems provide your customers with more detailed receipts rather than just a slip of paper with the date and the amount of the sale.
    • anonymous
       
      Detailed Receipts Gives customers a much more in detail receipt with their purchase made. With POS system you can print things on the receipt like coupons or any other information you would like to provide your customers with.
  • Point of sale systems have reporting features that allow you to keep a close eye on sales, profits, and expenses like Cost of Goods Sold (COGS)
    • anonymous
       
      Reporting POS systems have a feature that gives you reports on your business whether it be reports on the sales or the expenses. It also lets you monitor "Key Performance Indicators" which will help you manage things so your business is always performing at its best.
  • POS system will also allow you to monitor Key Performance Indicators (KPIs) such as average customer sales, stock turnover, and sell-through rate
  • this insight will assist you in making the necessary adjustments to help you maintain profitability and competitiveness
  • with a POS system, you can print reports and, in many cases, import data directly with your accounting software.
  • Modern POS systems include time clock functionality, so your employees can clock in and out on a POS terminal.
    • anonymous
       
      Employee Management This a great and very efficient way for employees to clock in and clock out quickly and easily through the POS system.
  • A POS solution provides a faster checkout process than cash registers, especially if they’re using a barcode scanner to ring up the products.
    • anonymous
       
      Faster Service This is probably the advantage that most customers and employees like the most because it makes their jobs easier and faster and in turn they have happy, satisfied customers who just want to pay and leave quickly.
  • POS solutions can lower the cost of doing business while increasing productivity, improving your bottom line
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    The articles talks about the many advantages of using POS systems over traditional cash registers.
tredunbar

7 POS Trends for 2020/2021: Latest Predictions You Should Be Thinking About - Financeso... - 2 views

  • global point of the sale terminals market is expected to reach USD 108.46[1] billion by 202
  • One of the biggest POS industry trends right now is mobile payment transactions which saw a 40.2% year on year growth[2]
  • it’s also important to have a reliable billing and invoicing program together with your POS sale
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  • 54% of consumers[4] in the US preferred to use their debit cards to make payments
  • 46% of US consumers rarely use money[4] anymore
  • 45% have security as their top priority. Offering a secure payment method improves the trust your customers have with your business.
  • using mobile devices like tablets and mobile devices to make transactions faster
  • 53% of retailers and business owners are upgrading their POS[3] systems
  • Accepting mobile payments for your business is easy. It mostly consists of scanning codes or tapping the smartphone on the terminal and authenticating the transaction
  • 61% of quick-service restaurants in the US have embraced cloud-based POS[5]. In fact, 60% of new merchants are asking for cloud POS[6] rather than legacy POS.
  • 61% of merchants[7] are looking into getting cloud-based POS
  • Cloud-based POS replaces all of that with a single app. Any update will come from the cloud to whatever device you are using.
  • you can make the transition to the cloud-based system slowly
  • Most cloud-based POS can integrate with the programs that your business is already using
  • Asia Pacific countries have fully embraced the use of mobile payment methods. eMarketer found that more than 45.2% of China’s population use mobile payment[8] for their everyday use. 
  • Mobile POS offers convenience as it takes the point of sale system to the customer, rather than the other way around
  • a reliable POS system, you can easily keep track of everything in your store
  • Mobile payments are safe to use. A lot of these systems are EMV compatible and use the latest secure credit card processing technology to protect you and your customers
  • 15% of businesses in the US are already using AI-enabled POS
  • Prevent fraud and ensure customer information is secure through an AI
  • AI can personalize a customer’s behavior and offer relevant product displays based on their past purchases
  • AI lets you know your customer’s buying habits. That way, you can order more of what’s being bought, increasing profits
  • 83% of shoppers are willing to provide their information[11] in exchange for a personalized experience
  • Get insights on what your customers are purchasing more of. This gives you an idea of what they are going to buy next based on their most recent purchase from your store
  • create a comprehensive marketing strategy that can help promote your brand and products
  • present real-time data in an easy to understand format like a graph
  • payment options include smartphone payment options that support RFID like Apple Pay, Samsung Pay, and Google Pay
  • instead of waving the device over the POS terminal, customers will need cellular data to complete the transaction
  • A mobile POS system often consists of a tablet that accepts card, cash, and mobile payment options. Additionally, these systems can also be used as a standalone register for a self-checkout kiosk
  • Accepting mobile payment methods allows lines to move faster and gives your customers a sense of satisfaction
  • It can also serve as a digital menu, where customers can input their orders. The orders will be sent directly to the kitchen, encouraging customers to order more
  • Rather than giving the card to a server and letting them run the transaction at the counter, customers can pay from the table
  • retail shops that offer self-checkouts, you can make your mobile POS into a static till
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    The article focuses on trends that companies utilizing a POS system should look at deploying. Bolstered by figures supporting the success of the emergent trends, the article seeks to encourage operators to make the move sooner rather than later. The most prominent trends revolve around more efficient payment access. Customers appreciate the speed and available payment options. Companies are also able to manage customer data effectively and securely while also managing inventory and marketing. AI integration is also a forward trend that is allowing businesses to tailor their tactics to each customer individually. Perhaps the most important trend that is affecting other transaction systems as well is cloud based POS.
kellym64

Best 10 Digital Tipping Solutions 2023 | Find Reviews, Pricing, Buying Guide - 0 views

  • Without cash tips, some employees are left without a sizable portion of their paychecks.
    • kellym64
       
      Cash is no longer the preferred way for people to pay. Especially when Apple and Samsung give people the opportunity to go out without money.
  • By giving guests a way to leave cashless tips, employees will feel more motivated to provide exceptional service, knowing they can be rewarded for it.
  • modern digital tipping solutions handle much of the digital paperwork for you
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  • Distributes tips to employees:
  • Pooled and individual tips:
  • Tip distribution:
    • kellym64
       
      The perfect example of how to keep your company looking like it is keeping up with technology and allowing your employees to feel fulfilled in knowing they can rightfully get the bonus they deserve.
ajean132

E-Waste: Five Billion Phones to Be Thrown Away in 2022 - 0 views

  • In the past two months, Apple, Google, and Samsung have all launched their newest devices with the hope of getting consumers to upgrade ahead of the winter holidays. However, the companies and their clients may also be adding to a growing environmental problem—namely, that of electronic waste or e-waste.
  • The International Waste Electrical and Electronic Equipment (WEEE) announced last week that in 2022, 5.3 billion mobile phones will be thrown away
  • These devices offer many important resources that can be used in the production of new electronic devices or other equipment, such as wind turbines, electric car batteries or solar panels—all crucial for the green, digital transition to low-carbon societies.”
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  • Precious minerals not extracted from waste electronics, such as the copper in wire or the cobalt in rechargeable batteries, have to be mined. This further adds to the ongoing problem.
  • Official United Nation’s data indicates that the world generated a staggering 53.6 million metric tons in 2019 alone. Of that, only 17.4 percent was recycled.
  • Τhe International Telecommunication Union has set a target to raise that to thirty percent by next year. The reason is because e-waste is one of the “fastest growing and most complex waste streams that affects both human health and the environment, as it can contain harmful substa
  • To improve conditions, the International E-Waste Management Network, run by the U.S. Environmental Protection Agency (EPA) and the Taiwan EPA, held a workshop for eleven countries in 2018.
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    This article addresses the growing environmental, financial, and political issues involved with e-waste. It provides predictions on the future of e-waste if it continues at its dangerous rate. An analysis of e-waste and how it can be reduced is also included.
anaferia

The biggest cyber attacks of 2022 | BCS - 0 views

  • In a year of global inflation and massive rises in energy costs, it should come as no surprise that the cost of a data breach has also reached an all-time high.
  • average total cost of $4.5m
  • Amongst the 550 companies that IBM contacted that had experienced a data breach, a disappointing 83% had experienced more than one in the same period
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  • common attack vector remains credential theft (19%) then phishing (16%), misconfigured cloud (15%) and vulnerabilities in third-party software (13%).
  • Russia has, for many years, attacked Ukrainian infrastructure such as power grids, internet infrastructure and banks. Since the outbreak of physical hostilities, this has extended to systems related to government administration and the military.
  • The Russia-linked cyber gang known as Conti managed to cause major disruption to financial operations throughout Costa Rica in April.
  • cripple Costa Rica’s import/export business.
  • A group known as Lapsus$ began 2022 with a string of high profile targets including Nvidia, Ubisoft, Samsung and Microsoft. In each case, data was stolen and in many cases leaked online. Their operating model is extortion where access is most often gained through phishing and then they seek out the most sensitive data they can find and steal it. Often, they do not deploy encrypting software at all.
  • Hacking back is where offensive security experts will attempt to compromise attacker’s machines. This can be legally murky as often the attacking machines are compromised third parties.
  • June this year, a former Amazon employee, Paige Thompson, was convicted for her role in the 2019 Capital One breach. While working for Amazon Web Services (AWS), she exploited her knowledge of cloud server vulnerabilities and stole personal information of over 100 million people.
  • Ransomware, while not the overwhelming headline grabber it was a year ago, is still a major and terrifying threat to many companies
  • The main attack vectors continue to be credential theft and phishing emails so it is vital to continue to raise awareness through corporate training and public ad campaigns. Finally, the conflict in Ukraine is showing how effective cyber weapons can be in disrupting command and control in a war.
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    To summarize, this article states that, it should not come as a surprise that the cost of a data breach has also increased to an all-time high in a year marked by significant increases in energy prices and worldwide inflation. According to IBM's Cost of Data Breaches Report 2022, the average overall cost is $4.5 million. Additionally, even if ransomware isn't garnering as much attention as it did a year ago, it still poses a serious danger to many businesses. Credential theft and phishing emails are still the major threat vectors, therefore it's critical to keep spreading awareness through public awareness campaigns and business training. Finally, the situation in Ukraine is demonstrating the potency of cyber weapons in sabotaging command and control in a fight.
tvill22

US E-Waste and Planned Obsolescence by Elizabeth Lamb - US Environmental Policy - 0 views

  • In order to increase sales, companies like Apple, Samsung, and Microsoft engage “planned obsolescence” to encourage per capita turnover of cell phones, tablets, computers, increasing electronic consumption and waste in the process.
  • For example, a company might manufacture a phone’s battery so that it breaks down earlier, a new software update might rely extensively on a new kind of hardware, or the manufacturer might make repairing the product so difficult or expensive that it makes more sense to buy a new product altogether.
  • Although e-waste only composed 2% of US landfills in 2019, it is responsible for over 70% of waste toxicity, and it is America’s fastest growing category of municipal waste.
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  • Even worse, the US currently has no formal federal legislation regulating e-waste
  • exported up to 40% of its e-waste to other countries.[5] However, the waste landscape is changing quickly: China, a major waste importer, banned foreign waste shipments as of January 2018.[6] As the US must begin processing more waste domestically, it is increasingly important that proper regulations are set in place
  • 25 out of 50 states have independent e-waste recycling policies, but a federal policy has yet to come to fruition
  • Consumer Product Safety Commission possesses the ability to enforce durability standards.
  • Congress should pass an act
  • mandating a warranty on all electronic devices
  • Congress should officially instate a minimum warranty length of 2 years for all electronic devices.
  • By simply extending product lifetimes by even just a quarter through the measures mentioned above, the US can massively reduce the amount of e-waste that pollutes the US.
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    This article talks about planned obsolescence and US e-waste. This article talks about how tech companies engage in planned obsolescence to encourage technology turnover. They talk about ways that the US can stop this planned obsolescence. One way would be to enforce durability standard for products creating a longer life time. This could be partnered with an enforced longer warranty on electronic devices.
deranique

The world's e-waste is a huge problem. It's also a golden opportunity | World Economic ... - 1 views

  • Humankind’s insatiable demand for electronic devices is creating the world’s fastest-growing waste stream.
  • The United Nations calls it a tsunami of e-waste.
    • deranique
       
      This statement refers to the seriousness of e-waste globally.
  • the International Telecommunication Union (ITU)
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  • the International Labour Organization (ILO)
  • he United Nations Environment Programme (UNEP) and other members of the E-waste Coalition
  • increase the global e-waste recycling rate to 30%.
  • They now number more than humans and are projected to grow to 25-50 billion by 2020, reflecting plummeting costs and rising demand.
  • The situation is not helped by the fact that only 20% of global e-waste is formally recycled. The remaining 80% is often incinerated or dumped in landfill.
  • By all coming together on the global stage we can create a sustainable industry that generates less waste, and in which our devices are re-used as well recycled in novel ways. This also creates new forms of employment, economic activity, education and trade.
  • Already 67 countries have enacted legislation to deal with the e-waste they generate. Apple, Google, Samsung and many other brands have set ambitious targets for recycling and for the use of recycled and renewable materials.
  • Action is needed now.
  • E-waste is not pollution, nor is it waste - it’s a vital resource we are only just starting to value in full.
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    This article provides a detailed approach on the negative and positive impacts of electronic waste from a global standpoint. This article also provides statistical data to show the various types of technological gadgets that contribute to e-waste, the materials they are made from, and new initiatives put in place to recycle these items.
sosor012

Ransomware attack on chip supplier causes delays for semiconductor groups | Financial T... - 0 views

  • Disruption from a ransomware attack on a little-known supplier to the world’s largest semiconductor equipment manufacturers will continue into March, in a new setback to chip production after years of coronavirus-related delays.
  • first identified on February 3,
  • MKS’s customers include many of the largest companies that produce semiconductors and the specialised equipment necessary to manufacture them, including TSMC, Intel, Samsung and ASML.
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  • The company had revealed on Monday that it could still take “weeks” more to restore operations and would cost hundreds of millions of dollars in lost or delayed sales. Most ransomware victims are able to recover in about three weeks, according to industry estimates.
  • The attack affected “production-related systems
  • , the company has now told the US stock market regulator that it is unable to file its annual report on time
  • the final impact on quarterly sales could total as much as $500mn — more than half what Wall Street had previously predicted
  • The semiconductor supply chain, which in many places relies on components made by only one provider, has faced repeated shortages over the past two to three years due to production and logistics delays.
  • However, demand for smartphones and other consumer electronics has waned in recent months as coronavirus lockdowns eased and consumer spending has been squeezed by inflation.
  • , it is unclear if MKS will be encouraged by US law enforcement to resolve the issue by paying a ransom.
  • Shares in MKS fell by about 15 per cent between February 3,
  •  
    The article "Ransomware attack on chip supplier causes delays for semiconductor groups," discusses the affects on a company due to a cyberattack that occurred February 3rd. The company is believed to have setbacks into March and that it would cost hundreds of millions of dollars in lost or delayed sales. The company also believes they will be unable to file its annual report on time and possibly have to resolve the issue by paying a ransom. This also cost a 15% decrease of shares for the Company.
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