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DraftKings CEO Sees Bright Future

Posted by Christopher Geehern on Nov 17, 2017 11:33:48 AM

The worlds of sports, media and gaming are likely to coalesce during the next several years and the co-founder and chief executive of Boston-based DraftKings believes his company and its 8 million customers will be a major player in that new world.

Robins.jpgJason Robins, who built DraftKings into a $1.5 billion fantasy sports colossus in just five years, told 250 business executives at the AIM Executive Forum this morning that companies like his have raised interest in professional sports and given fans an entirely new experience of watching everything from NFL Football to major league soccer

“A lot of exciting things on the horizon,” he said during a 45-minute conversation with AIM President Richard Lord.

"What technology and mobile have done for gaming and media, it's incredible, and we've only sort of reached the tip of the iceberg. I think you're going to see a convergence of media and gaming.

"I also think this sort of media landscape where all the content is scattered around different places and you have to have a bunch of different services or you have to sort through 800 cable channels to find what you're looking for, it's not necessary anymore."

Daily Fantasy Sports (DFS) allows fans to enter daily and weekly fantasy sports contests and win prizes based on individual players’ performances. Industry researchers estimate that players spent an estimated $3.26 billion on daily fantasy sports in 2016.

Robins said DraftKings surpassed more established competitors to became the pre-eminent DFS company “because we had a better mousetrap.” The keys to that mousetrap, he said, were products, technology and analytics that created a “game within a game” for sports fans.

What Robins and his partners did not anticipate in 2012 was the intense level of regulatory scrutiny that DraftKings and other DFS companies would engender both in Massachusetts and across the country.

DraftKings has supported consumer-protection regulations for the fantasy industry implemented by Massachusetts Attorney General Maura Healey in 2016 covering issues such as excluding minors, ensuring “fair” gameplay, prohibiting contests on college sports, and spelling out standard marketing practices. Robins said those regulations, though not perfect, have become the basis for DFS legislation in more than a dozen other states.

The company is less enthusiastic about a commission report several months ago that recommended that the Massachusetts Legislature enact a law that would label DFS as gambling and give the Massachusetts Gaming Commission oversight over the industry.

“I will continue to work with them on the way they have gone about their analysis,” Robins said.

He believes the future is a bright one for DraftKings in large measure because of its customer demographics. DraftKings, he said, have the customers everyone wants – millennials in higher income brackets who do not hesitate to spend money on entertainment.

"What we've tried to do is position ourselves as a platform, partner with companies that own these types of rights, and say, look, we can help you in the world where you're trying to grow your subscriptions, your direct-to-consumer business," Robins said.

"We have the customers you want, we know exactly what they're interested in and we have the data to target them."

Topics: Technology, AIM Executive Forum

Video Blog | Startup Provides Internet Access in the Developing World

Posted by Kristen Rupert on Nov 2, 2017 1:37:13 PM

Editor's Note - How do you provide Internet access to people in developing countries where there is no power to charge phones or access the Web? WrightGrid, a startup based in Somerville’s Greentown Labs, has come up with the answer. WrightGrid has developed a solar-powered cell phone charger and wi-fi station designed to provide information access to people in countries such as Ghana and the Democratic Republic of Congo. WrightGrid this week accepted the 2017 AIM Global Innovation Award.

 

Topics: Technology, AIM International Business Council, International b

AbbVie - Employer Remains Determined to Make a Difference

Posted by Christopher Geehern on Oct 2, 2017 3:25:52 PM

Editor's note: The global pharmaceutical company AbbVie will receive a 2017 AIM Next Century Award on Thursday at the association's annual employer celebration from 4:30-6:30 at Mechanics Hall in Worcester. AbbVie's 450,000-square-foot Worcester facility employs approximately 900 employees who primarily focus on immunology drug research, protein engineering, and small-batch manufacturing of biotech drugs for clinical trials.

 

Register for the Worcester Celebration

Topics: Massachusetts employers, Technology, AIM Next Century Award

TechSpring - Collision Space for Health-Care Technology

Posted by Christopher Geehern on Sep 19, 2017 2:04:52 PM

Editor's note - TechSpring at Baystate Health will receive an AIM Next Century award at the association's Western Massachusetts employer celebration on September 28 from 4:30-6:30 pm at the Wood Museum of Springfield History. TechSpring, a health-care technology innovation center launched in 2014 by the regional medical services company Baystate Health, provides technology companies access to a live health system to test and validate digital-health solutions. Here is one example:

Next Frontier in Population Health from TechSpring Health on Vimeo.

 Register for the Western Massachusetts Next Century Celebration

Topics: Technology, Health Care, AIM Next Century Award

Using Digital Transformation for Business Success

Posted by Jeffrey Lauria on Sep 13, 2017 1:30:00 PM

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Editor’s note – Jeffery Lauria is Vice President of Technology at iCorps Technologies. He will be among the presenters during a complimentary four-part webinar series that AIM is presenting entitled “The Digital Transformation.”

If you’re at all tuned in to the business or technology environments of today, you’ve likely heard about the “digital transformation." This popular phrase simply means leveraging innovative technologies to help your business become the best version of itself.

Digital Transformation sounds like something that could be phenomenal for your business, and something you should prioritize… but then daily life steps in and reminds you that you have a business or department to run and employees to keep happy.

So, is digital transformation worth the hype?

Here are three positive results that business organizations have experienced from their digital transformation, then I’ll explain how to take that first step. 

1. Operate efficiently and cost-effectively with the cloud.

At the center of digital transformation sits one key player: the cloud. The maturity of cloud services over the past five years has opened a wealth of opportunities for business of all sizes, providing the capability to streamline tedious processes, scale application usage up or down, and reduce reliance on physical, costly hardware at the same time. The cloud is leveling the field for companies of all sizes.

Many organizations have already dipped a toe in – migrating email or hosting their websites in the cloud, for example. But true digital transformation comes when business leaders think about where they want to be in six, 12 or 18 months and then work with a cloud partner to strategically get them there.

In a study of more than 6,000 executives, International Data Corporation (IDC) found that those businesses strategically consuming more cloud, achieved higher levels of business benefits.1 IDC’s research confirmed that greater levels of cloud maturity are associated with improved business metrics such as top-line revenue increase, improved strategic IT allocation, greater flexibility with reuse of computing assets and IT staff, reduced costs, and increased service performance as key benefits - and the gains increase as cloud use grows.

2. Empower employees to produce and collaborate, anywhere.

The most competitive businesses are leveraging business-class, cloud-based productivity tools to empower their employees to maximize their productivity without sacrificing the security of corporate data.

Today’s on-the-go, mobile employees need convenient access to corporate systems, applications, and information – anywhere, anytime, and from any device – and require the right technology to do so. Maximizing their productivity means enabling them to access company files and documents in the same way they'd access these things from the office.

Whether they're traveling, working from home or visiting clients, the expectation of today’s work force is quick and easy digital access to whatever data is needed to get the job done. Following a study of more than 200 organizations that have deployed Microsoft Office 365, Forrester Research determined that the average mobile worker saved about 15 minutes a day while on the road by accessing, sharing, and syncing files. For 50 mobile employees, that amounts to 750 minutes or 12.5 hours that can be repurposed for real producitivity.2

3. Secure your data so you are resilient against sophisticated cyber threats.

The “here and now” reason to kickstart your digital transformation comes down to security. In May, the WannaCry ransomware attack impacted more than 300,000 unpatched and/or outdated computer systems globally.

Organizations using updated Windows 10 systems were not affected.

Getting more juice out of unsupported servers or outdated operating systems may seem frugal in the moment, but can your organization afford the cost of downtime, data loss and reputational damage when the next WannaCry variant strikes? Scare tactics aside, those who haven’t felt the blow of a ransomware or phishing attack, will at some point if unprepared.

The good news is that IT security vendors are elbowing each other in the race to be first to detect new threats, the best at battling ransomware, or the most comprehensive in threat analysis.

Many of today’s cloud solutions such as Office 365 also have built-in security capabilities. Organizations of all sizes now have access to affordable security technology that was once only attainable for organizations with large IT budgets. It’s just a matter of figuring out which are the best fit for your organization and which mix will keep you protected at all levels from everything from email to vulnerability mitigation.

The Time is Now

Never before have organizations had access to the type of technological resources they have now. Digital transformation is possible today because of advances in technology such as the cloud and cybersecurity, but it’s only valuable to those who enable and leverage its benefits.

Digital transformation will indeed alter the way your organization works for the better, but the transition does not have to be a disruptive one. The most successful companies enlist the expertise and experience of a technology partner that has not only been through the transformation themselves, but helped other organizations navigate their roadmaps.

Small, medium and large companies have taken those steps. Listen to their stories and learn more about the why and how of Digital Transformation during our free webinar series with AIM.

Register for The Digital Transformation

Topics: Technology, Management

IBM Watson Health Redefines Boundaries of Health, Information Technology

Posted by Christopher Geehern on Jan 20, 2017 2:24:55 PM

Associated Industries of Massachusetts President Richard C. Lord used his annual State of Massachusetts Business Speech this morning to highlight IBM Watson Health in Cambridge as emblematic of the commonwealth's growing economy.

IBM Watson Health is prospering by exploring the still unknown boundaries between health care and information technology. The company seeks nothing less than to redefine the relationship between technology and humanity in a manner that improves the quality of medical care for all of us. IBM Watson Health could have located anywhere, but decided to establish its operations and hundreds of employees in Kendall Square, Cambridge, the epicenter of the global biosciences and software industries.

The idea behind IBM Watson Health is to use cognitive computer systems that understand, reason and learn to make sense of the estimated 80 percent of health data that is currently invisible to computer systems because it is unstructured.

Topics: Massachusetts economy, Technology, State of Massachusetts Business Address

Do Employers Respond to Online Comments?

Posted by Christopher Geehern on Jun 6, 2016 8:50:16 AM

OnlineComments.jpg

A majority of AIM member employers choose not to respond to comments made about their companies on social media and Internet rating sites, according to a new AIM poll.

Sixty-two percent of companies responding the AIM monthly issues poll say they never answer what most experts believe is a swelling volume of online consumer feedback. Twenty-seven percent say they respond only to answer a question, 1 percent respond only when they have time and 10 percent always respond.

The results are based on responses from 152 employers.

The survey was taken amid media reports last month of several restaurants and hotels seeking to remove themselves from the popular online rating service TripAdvisor, which is based in Needham and is an AIM member. TripAdvisor maintains ratings on all operating business, an approach that has allowed the site to grow into a platform with more than 320 million reviews of businesses around the globe.

Online customer comments have become an important issue for businesses as traditional word-of-mouth referrals move to the Web and become globally visible. A recent survey by Brightlocal found that the percent of consumers who form their opinions about a business through online reviews rose from 22 percent in 2011 to 39 percent in 2014.

Being part of the review forums often bolster a business’ bottom line. One Harvard Business School study of restaurants in Washington found that a one-star increase in Yelp ratings led to a 5-to-9 percent increase in revenue. A  report from the Boston Consulting Group involving a survey of nearly 4,800 small businesses found that companies who have a Yelp profile yet do not advertise on the site saw their annual revenue increase by $8,000 on average.

Several companies responding to the AIM survey say they do not use social media for business purposes. Others said they leave the task of monitoring online comments to their marketing departments or to an outside marketing firm.

Companies point out that the issue of online comments does not stop at consumer reviews, but also includes sites that allow current employees to evaluate the company for the benefit of job seekers.

“We just discovered GlassDoor and are diligent about responding to every comment on that site,” one member wrote.

Topics: Massachusetts employers, Technology, Internet

AIM Vision AwardNuance Communications, Technology Whisperer

Posted by Christopher Geehern on May 19, 2016 7:59:56 AM

AIM last week presented the first-ever Vision Awards, which honor the accomplishments of companies and individuals who have made unique contributions to the economy and citizens of Massachusetts.

One of three inaugural Vision Award honored Nuance Communications of Burlington. Nuance is a global pioneer in voice-recognition and imaging software that bridges the gap between humans and the technology they create. The company is best known for providing the voice recognition technology that underpins many digital personal assistants, including Apple’s Siri, Samsung’s S-Voice and Ford’s Sync.

Here is more...

Topics: AIM Annual Meeting, Massachusetts employers, Technology

Employers Split on Government Access to Smart Phones

Posted by Christopher Geehern on May 2, 2016 7:30:00 AM

A narrow majority of Massachusetts employers believes that technology companies should help law-enforcement authorities unlock smart phones and other electronic devices as part of criminal investigations.

Phonesecurity.jpgFifty percent of the employers who responded to a new AIM survey, which was included in AIM’s monthly Business Confidence Index, side with the government in its recent dustup with Apple over access to the phone of a suspect in the San Bernardino terrorist attack. Thirty-seven percent believe companies should not help the government access electronic devices, while 13 percent are undecided.

Even for those who favor technology companies helping the government, the question appears to be an agonizing one.

“Before the ‘Age of Terrorism’ I would have answered ‘No.’ However, today I must answer ‘Yes,’ but with this caveat - tech companies should do the actual access themselves. They should not reveal the software or other techniques that they might use to do so to the law enforcement agencies, and only based on a warrant or court order,” wrote one employer.

A second saw the issue differently:  “I can very much understand Apple’s reluctance to create software to get information from their phones. First, having the information in the hands of the government. Second, Apple was probably concerned about the effects on their product in the market once customers understood that Apple was willing to allow the government to access any phone.”

The conflict between Apple and the Justice Department flared in February when a federal magistrate judge in California ordered the Silicon Valley company to help unlock the smartphone used by Syed Rizwan Farook, a gunman in the December shooting in San Bernardino that killed 14 people. Apple opposed the order, saying that “compromising the security of our personal information can ultimately put our personal safety at risk.”

The government announced in March that it had found a way to unlock an iPhone without help from Apple, but suggested that the broader battle over access to digital data from devices is not over.

“It remains a priority for the government to ensure that law enforcement can obtain crucial digital information to protect national security and public safety, either with cooperation from relevant parties, or through the court system when cooperation fails,” Melanie Newman, a spokeswoman for the Justice Department, told The New York Times.

Employers who responded to the AIM survey said technology companies should provide access to devices only under court order.

“Access should be based on a judge and court warrant issued only under extreme circumstances and sealed from public scrutiny. Access should be performed by an Apple employee acting as a mutual agent of Apple and the Justice Department so that proprietary software information is not disclosed to the FBA or to other parties,” one AIM member wrote.

Still other employers suggested that iPhone kerfuffle distracts from the broader issue of electronic security faced by employers in all industries.

“I would prefer to have the government and technology companies working on more ways to keep our records and information secure rather than worry about tech companies creating backdoor keys for the government. This unchecked increase in the number of hackers and info/tech piracy cases is very unsettling. I haven't seen any real effort to address this aspect of security,” one employer wrote.

Topics: Technology, Privacy

GE Move to Boston Represents Watershed for Economy

Posted by Christopher Geehern on Jan 13, 2016 2:55:26 PM

Today’s decision by General Electric Company to locate its corporate headquarters in Boston represents a watershed for the Massachusetts economy, the commonwealth’s most influential employer association said.

GE.jpgAssociated Industries of Massachusetts, which counts GE among its charter members, is proud to have played a significant role in the months of discussions that took place among the company, Boston and state officials and several cornerstone Bay State employers. The decision burnishes Greater Boston’s already strong reputation as a rapidly growing center of ideas and innovation.

“It’s a great day for Massachusetts as General Electric Company, one of the most respected companies in the world and a charter member of Associated Industries of Massachusetts (AIM), has chosen to locate its corporate headquarters in Boston,” said AIM President and Chief Executive Officer Richard C. Lord, who participated in a meeting with GE executives in the North End of Boston in September.

“GE’s move brings a host of benefits to the Massachusetts economy, from top-level jobs to innovation to an unmatched global market presence. AIM and its 4,500 member employers welcome GE headquarters to the commonwealth and congratulate the Baker and Walsh administrations for recognizing that taxes, work force and other elements of the business climate really matter in corporate location decisions.”

The company said Boston is a logical location for a company seeking to marry manufacturing with advanced technology.

“GE aspires to be the most competitive company in the world,” GE Chairman and CEO Jeff Immelt said in a statement.

“Today, GE is a $130 billion high-tech global industrial company, one that is leading the digital transformation of industry. We want to be at the center of an ecosystem that shares our aspirations. Greater Boston is home to 55 colleges and universities.

“Massachusetts spends more on research and development than any other region in the world, and Boston attracts a diverse, technologically-fluent workforce focused on solving challenges for the world. We are excited to bring our headquarters to this dynamic and creative city.”

GE will bring roughly 800 jobs to Boston - 200 from corporate staff and 600 digital industrial product managers, designers and developers split between GE Digital, Current, robotics and Life Sciences. A GE Digital Foundry will be created for co-development, incubation and product development with customers, startups and partners.

GE already has a significant presence in Massachusetts, with nearly 5,000 employees across the state in businesses including Aviation, Oil & Gas and Energy Management. In 2014, GE moved its Life Sciences headquarters to Marlborough, and in 2015 GE announced its energy services start-up, Current, would also be headquartered in Boston.

AIM worked with Governor Charlie Baker and Boston Mayor Marty Walsh to bring a handful of business leaders together to meet with GE’s site selection team for a dinner at Tresca in the North End on September 14. Representatives from two AIM member companies – EMC and State Street Corporation – joined Lord, Baker, Walsh and Secretary of Housing and Economic Development Jay Ash.

“One of the strengths I talked about was the fact that the governor, Legislature and the mayor have worked together in a bipartisan manner to create a predictable business climate,” Lord said.

He noted that GE was the second company to join AIM in 1915 and that GE Executive Richard Rice, served as the first chairman of the association from 1915-1917.

Topics: Massachusetts economy, Technology, Jobs

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