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Exclusive: Blockchain Beats AI and Big Data for the Highest Average Annual Salary in the UK

In the discussion of disruptive technologies, you may have the following questions in mind: i) Where are the most disruptive businesses?; ii) Which disruptive tech is the highest paying ones?; iii) Which industry has the highest number of disruptive tech businesses? These answers can be found by an exclusive report shared with Blockchain.News.

State of Disruptive Technology

The report titled “The Disruption of Disruptive Tech” by Capital on Tap highlighted the state of disruptive tech adoption in early 2020. The US had the most businesses in various disruptive technologies, with 71% dominance in cloud consulting and 53% in cybersecurity. For blockchain businesses, the report cited that US ranked 1st with 407 businesses. We believe this does not account for the “Chinese influence”: there were 788 blockchain enterprises established in Hunan province alone in 2019. In the industry perspective, information technology (2,552) and financial services (2,178) had the most disruptive technology businesses, followed by healthcare and medical (2,138).

Source: Capital on Tap

Blockchain Jobs: The Highest Paid Roles in Disruptive Technology?

The report revealed that blockchain has the highest average annual salary in the UK (GBP 75,000), followed by Big Data (GBP 70,000) and machine learning (GBP 65,000). According to LinkedIn, blockchain is one of the most in-demand hard skills for employees in 2020. There are 4 blockchain skillsets highly sought by employers: business acumen, tech literacy, data analysis, and hacker mentality. The possession of these skillsets is highly relevant to tackle the talent shortage issues in the blockchain industry or FinTech in general.

We have noticed that job scarcity does not correlate with the salary payment. While Augmented Reality (AR) had the lowest average annual salary (GBP 45,000) and least vacancies (76), business intelligence ranked second-lowest (GBP 52,500) with the most vacancies (7,027).

Source: Capital on Tap

What are the Roles of Microsoft Azure and Amazon Web Services in BMW Group's Blockchain Pilot?

BMW Group, a famous global premium manufacturer of motorcycles and automobiles, seeks to expand its pilot blockchain project, dubbed PartChain, to its international supply chains that are muddled in complexity. According to an official announcement, blockchain technology will be instrumental in propelling the traceability and transparency of crucial raw materials and parts as it will ease data sharing.

BMW Group merges blockchain and cloud technologies

BMW Group houses popular brands, such as Rolls-Royce, BMW Motorrad, MINI, and BMW. The Group has 31 assembly and production plants spread across fifteen countries with a workforce of 133,778 employees.

In 2019, PartChain was successfully piloted in the purchase of front lights, and the manufacturer wants to go a step forward to incorporate more international suppliers in the blockchain project. It was initially used in three locations belonging to the automotive lighting supplier, as well as two of the BMW Group’s plants.

For the seamless traceability of parts, BMW Group has combined blockchain and cloud technologies by using Microsoft Azure and Amazon Web Services as this enables the tracking down of components’ origin without permitting any manipulation.

Andreas Wendt, a board member of BMW AG, noted, “PartChain enables tamper-proof and consistently verifiable collection and transaction of data in our supply chain.”

By leveraging on blockchain and cloud technologies, BMW Group intends to thrust the digitalization of purchasing to unprecedented heights as information within international supply chains will be shared and exchanged anonymously and safely.

Blockchain guarantees transparency

Transparency is fundamental when it comes to the supply of finite resources like batteries. By deploying blockchain technology, BMW Group will be in a position to have a transparent extraction of raw materials.

Earlier this year, Mercedes Benz partnered with Circular, a blockchain startup, to trace carbon emissions in the cobalt supply chain. Blockchain technology is, therefore, being integrated into the automotive industry for environmentally friendly practices, as well as the transparency and traceability of raw materials.

Image via Shutterstock

Banking on Blockchain: FinTech and Digitalization Will Play a Significant Role for the Chinese Banking Industry

China’s banking industry for small to medium-sized enterprises (SMEs) will rely on digitization and financial technology to build a “new infrastructure” for the entire industry.

Highly endorsed by the country’s president, Xi Jinping, blockchain technology has seen a surge in popularity in the past year. Xi pointed out that it is necessary to strengthen the fundamental research of blockchain and to enhance innovation, enabling China to take a leading position in the blockchain field.

With the coronavirus pandemic wreaking havoc on the economy, Beijing is helping Chinese SMEs to recover from the economic trauma. As the risk of a sharp increase in unemployment could pose risks to social stability, the State Council announced that they would grant banks another 500 billion yuan ($71.1 billion) on top of the 300 billion yuan ($42.8 million) in funds released by the government in early February of this year.

Dong Ximiao, a researcher with the National Institution for Finance and Development said:

“It was a timely and important move for the country to innovate capital replenishment tools for small to medium-sized banks.”

China Zheshang Bank was the first bank in the country to use blockchain technology to issue the first asset-backed commercial paper in the Chinese financial market. The asset-backed commercial paper (ABCP) was issued as a part of the National Association of Financial Market Institutional Investors’ (NAFMII) pilot project. ABCPs are short-term investments issued by financial institutions to support companies in their short-term goals.

The ABCP used an innovative design that combined blockchain technology with asset securitization to provide a “greater number of upstream and downstream SMEs with a direct channel to markets,” according to China Zheshang Bank. This design would further increase the accessibility of business financing.

Focusing on new infrastructure, Dong argued that the history of banking history, to a certain extent, is a history of technological development. According to Dong, the first time that FinTech was mentioned in a nationwide announcement, was when the Financial Stability Board in China released the analysis framework report on FinTech in March 2016.

Dong also emphasized the importance of digitization, based on financial technology, would be the “new infrastructure” for the banking industry. Emerging technologies, including China’s five key technologies, also known as “ABCDT,” include artificial intelligence (AI), blockchain, cloud computing, big data, and the internet of things (IoT) has had a profound impact on the banking industry.

Kompute Seeks to be the “AWS” of Decentralized Cloud Computing

Kompute, a blockchain company based in Estonia, intends to render significant control and anonymity in cloud computing through a decentralized model explicitly created for Web3.

In a statement, Xabier Almazor, Kompute’s CEO, pointed out:

“AWS, GCP, and many other big names are the leaders in centralized cloud computing; the problem is they control the users’ data, access to computing power, and privacy.”

Dubbed the “AWS” of Web3 economy, Kompute has launched a decentralized cloud computing model powered by the Ethereum (ETH) network with the off-chain layer running on Kubernetes.

Therefore, the decentralized infrastructure is meant to propel low-cost, reliable, and scalable cloud computing services.

Kompute will also connect cloud service consumers with resource providers for revenue generation. Per the announcement:

“Every transaction on the network is enforced by smart contracts and recorded on the blockchain. Only authorized actions are allowed against the blockchain, so code and data integrity are guaranteed.”

“There are multiple layers of confidentiality to protect intellectual property. Network providers are incentivized to provide resources and keep the network safe,” the report added.

Based on an autonomous and trustless network, Web3 continues to gain steam because it is seen as the future of the internet.

Earlier this year, Google assembled a team to create services for developers in the Web3 ecosystem through its cloud unit, Blockchain.News reported.

Google sought to tap the potential presented by the crypto space, given that Web3 Pioneers have developed peer-to-peer and decentralized systems to transform the internet.

Meanwhile, InfiniteWorld, a Web3, and metaverse infrastructure company, recently acquired Super Bit Machine to provide best-in-class experiences in the metaverse and Web3 worlds by incorporating multiplayer and real-time game development abilities.

Reuters: U.S. Aims to Thwart Chinese Access to AI Chips via Overseas Outlets

The Biden administration is contemplating measures to plug a loophole that has been enabling Chinese firms to acquire U.S. artificial intelligence (AI) chips through overseas channels, as reported by Reuters on October 13, 2023. This move underscores Washington’s ongoing effort to curb China’s burgeoning AI capabilities which are significantly anchored on U.S. chip technology.

Last year, the U.S. administration introduced restrictions on the shipment of AI chips and chip-making tools to China, aiming to impede its military advancements. The present consideration to broaden the scope of restrictions reveals the administration’s struggle to sever China’s access to top-notch AI technology amidst the intricacies in sealing every avenue in export controls.

In the initial phase of restrictions, the loophole left open permitted overseas subsidiaries of Chinese companies to have unrestricted access to these semiconductors, thereby, potentially enabling their smuggling into China or remote access by China-based individuals. Notably, chips forbidden by U.S. regulations were reportedly available from vendors in Shenzhen’s Huaqiangbei electronics area as of June.

The loophole’s existence points to the challenge faced by the U.S. in policing transactions involving these chips. While shipping the AI chips to mainland China is against U.S. law, enforcement becomes a hurdle as China-based personnel could lawfully access these chips housed at foreign subsidiaries.

Greg Allen from the Center for Strategic and International Studies highlighted that Chinese firms are procuring chips for overseas data centers, with Singapore emerging as a significant hub for cloud computing.

On the flip side, the Chinese government has previously voiced its discontent over U.S. export controls, accusing Washington of unwarranted suppression of Chinese enterprises.

China’s AI ascendancy is heavily reliant on its access to U.S. chips. A 2022 report by Georgetown University’s Center for Security and Emerging Technology revealed that a substantial portion of AI chips procured through Chinese military tenders were designed by U.S.-based giants like Nvidia, Xilinx, Intel, and Microsemi.

Furthermore, in August, the U.S. urged major chip manufacturers like Nvidia and AMD to limit the shipment of AI chips not only to China but to other regions including certain Middle Eastern countries. The upcoming rules, anticipated to be rolled out this month, are expected to extend these restrictions more broadly across all players in the market.

The Biden administration continues to wrestle with the task of closing loopholes, including the challenge of curtailing Chinese access to U.S. cloud service providers like Amazon Web Services (AWS), which extends similar AI capabilities.

In line with the ongoing U.S. efforts to curb Chinese access to advanced AI chips, as reported by Blockchain.News, senior Republican Representatives Michael McCaul and Mike Gallagher have urged for tighter export control enforcement. On October 6, 2023, they expressed concerns to the National Security Advisor over the Bureau of Industry and Security’s laxity in enforcing existing rules set in 2022 aimed at limiting China’s procurement of advanced semiconductors for military use. This call for stricter enforcement underscores the escalating U.S.-China tech tensions, particularly amidst advancements by China’s Semiconductor Manufacturing International Corporation and Huawei Technologies in semiconductor technology despite current U.S. sanctions.

Microsoft's AI Revolution: CEO Satya Nadella Unveils Bold Tech-infused Vision

Microsoft’s Chairman and CEO, Satya Nadella, recently penned his annual letter, unveiling the technology behemoth’s vision to drive a new era dominated by Artificial Intelligence (AI). The detailed discourse, shared on October 20, 2023, via LinkedIn, articulates the company’s strategy to intertwine AI across all its customer-centric products and the layers of its technology stacks. This narrative underscores the monumental role AI is anticipated to play in reshaping the software landscape and business operations, not just within Microsoft but across the globe.

Satya Nadella underscored the significance of the “next generation of AI,” which, in his perspective, is earmarked by two pivotal advancements. Firstly, he highlighted the essence of natural language processing (NLP), a branch of AI focused on bridging human-computer interactions. Secondly, he introduced the concept of a “powerful new reasoning engine” or generative AI, which holds the promise of transforming how humans interact with data, from summarizing text to recognizing images. The amalgamation of these advancements, as per Nadella, is poised to unlock colossal opportunities.

In the quest to transition into this AI-driven epoch, Microsoft has already embarked on significant collaborations, notably with OpenAI. The fruit of this collaboration is the creation of AI Copilot, a tool engineered to enhance coding efficiency amongst developers. Furthermore, AI Copilot has been intricately integrated into various Microsoft services including Microsoft 365, Dynamics 365, and GitHub, embodying the firm’s vision of AI infusion across its product spectrum.

The cornerstone of this AI journey lies in the robust infrastructure and platforms. Microsoft’s AI supercomputer, an initiative commenced four years ago, now powers OpenAI’s foundation models, marking a significant milestone. The strategic partnership with OpenAI extends to the Azure OpenAI Service, which boasts advanced models like ChatGPT and GPT-4, making AI accessible to over 11,000 organizations across diverse industries. Microsoft’s Intelligent Data Platform and Azure AI are pivotal in providing a comprehensive data, analytics, and AI suite to organizations.

Maintaining its lead as the top commercial cloud provider, Microsoft continues to innovate in consumer categories, from gaming to professional social networks. The integration of AI is conspicuous in products like Microsoft 365 Copilot, GitHub Copilot, and Dynamics 365 Copilot, which are tailored to streamline tasks, boost productivity, and foster creativity amongst users.

The global impact of Microsoft’s AI initiatives is monumental. Nadella cited instances of AI Copilot facilitating both elite developers and rural farmers, underscoring the broad spectrum of individuals and communities that stand to benefit from these advancements. The vision extends to aiding the global transition towards clean energy, as seen in projects like Global Renewables Watch.

As Microsoft steers into this new era, the emphasis on responsibility is paramount. Nadella expounds on the commitment to responsible AI, digital safety, and cybersecurity, besides advocating for global AI regulations and governance.

As Satya Nadella aptly concludes, this is a momentous phase for Microsoft, with an incredible opportunity to leverage the new AI era for the benefit of every individual and organization. The roadmap laid out in his annual address paints a promising picture, not just for Microsoft, but for the global technological landscape, as we inch closer to an AI-driven future.

Bitdeer and NVIDIA Partner to Launch AI Cloud Service in Asia

Bitdeer Technologies Group (NASDAQ: BTDR), a leader in blockchain and high-performance computing, has teamed up with NVIDIA to introduce a new cloud service in Asia, according to Globenewswire. Named Bitdeer AI Cloud, this service is poised to be powered by NVIDIA’s advanced DGX SuperPOD with DGX H100 systems, representing a major development in the region’s technological landscape.

The partnership comes at a time when the demand for powerful and efficient cloud computing solutions is at an all-time high, driven by rapid advancements in AI, machine learning, and large language models (LLMs). Industry analyst IDC reported a remarkable 32% annual growth in the public cloud platform-as-a-service (PaaS) market in 2022, a clear indicator of the sector’s burgeoning success. This growth is further amplified by the expanding realms of online gaming, livestreaming, and social media in Asia, which have significantly escalated the need for enhanced computing power.

Bitdeer’s strategic decision to collaborate with NVIDIA is seen as a move to consolidate its position in the Asian market. This partnership elevates Bitdeer to a Preferred member of the NVIDIA Partner Network, a status that highlights its technological capabilities and market influence. Matt Linghui Kong, CEO of Bitdeer, has expressed his excitement about this collaboration, seeing it as a stepping stone for advancing AI and LLM technologies in Asia.

Tony Paikeday, the Senior Director of the DGX platform at NVIDIA, emphasized the importance of generative AI in modern business environments. He pointed out that Bitdeer, utilizing NVIDIA’s DGX infrastructure, is well-equipped to provide the AI supercomputing and software necessary for developing and deploying advanced generative AI models and services.

Bitdeer’s approach to expanding its GPU cloud business is multifaceted. The company plans to provide a high-performance GPU cloud infrastructure that will serve as the cornerstone for various AI-driven projects. This move is expected to allow organizations to efficiently utilize GPUs for complex AI workloads. Additionally, Bitdeer is developing a GPU-as-a-Service platform, aiming to simplify AI application management and deployment. This is in line with global market projections that foresee significant growth in the PaaS market.

Furthermore, Bitdeer intends to offer AI software services to a diverse range of industries, thus democratizing access to AI technology and reducing the complexities associated with in-house development. The company is also preparing to launch API services to enable businesses to integrate AI more easily into their existing operations, in response to the anticipated growth of the Asia Pacific API market.

Bitdeer’s global operations, including datacenters in the United States, Norway, and Bhutan, underscore its expertise in managing complex computing processes. The company’s announcement of its NVIDIA DGX SuperPOD-based high-performance cloud service platform, expected to launch in Q1 2024, signals a significant step towards providing scalable and dynamic AI solutions across various industries.

Microsoft Reveals Azure Maia AI Accelerator and Azure Cobalt CPU

The Azure Maia 100 AI Accelerator and the Azure Cobalt CPU were both introduced at the Ignite 2023 conference, which was hosted by Microsoft. These two in-house silicon chips represent a significant advancement in artificial intelligence and cloud computing technologies. The Azure Maia AI Accelerator, which is specialized for AI and generative AI workloads, and the Azure Cobalt CPU, which is an ARM-based processor designed for general computing, represent a major step in Microsoft’s technological strategy. Both of these products are part of the Azure platform. These chips, which were created in the Redmond lab of Microsoft, are essential to the company’s goal of a completely integrated infrastructure, which combines software, servers, racks, and cooling systems.

These chips are slated for release in early 2024 and will be used to power various services provided by Microsoft such as Copilot and Azure OpenAI Service. Their incorporation into Microsoft’s data centers is a reaction to the increased need for computing capacity that is efficient, scalable, and environmentally friendly, particularly in cloud and artificial intelligence technologies.

Microsoft is adopting a comprehensive approach to infrastructure, with the goal of maximizing the performance of each individual component, from silicon to hardware to software. This approach is in keeping with the company’s aim of being more sustainable, one noteworthy example of which is the energy-efficient design of the Cobalt central processing unit (CPU).

Microsoft also announced an extension of its collaborations with NVIDIA and AMD, which would enhance the capabilities of both companies in the area of infrastructure and provide customers with a variety of alternatives in terms of both performance and cost.

Microsoft is working on developing second-generation versions of both the Azure Maia AI Accelerator and the Azure Cobalt CPU family in order to maintain its tradition of technological leadership in this industry. Their drive to expanding their skills in artificial intelligence and cloud computing is shown by their focus to optimizing each technological layer.

The recent advancements that Microsoft has made in the field of artificial intelligence chip technology were discussed in a related blog post. The Azure Maia AI Accelerator and the Azure Cobalt CPU, both of which are essential to the AI and cloud computing strategy developed by Microsoft, are expected to be operational somewhere in the early year 2024. This represents a larger trend in the artificial intelligence technology business, where major firms are increasingly focused on the manufacture of semiconductor chips for increased AI capabilities. This is shown by the fact that this is occurring.