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London remains top destination for European tech funding

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London remained the top destination in Europe for technology investment in 2018, with nearly double the amount being plowed into companies in the British capital than nearest rival Berlin, data showed on Wednesday.

Technology companies in London attracted 1.8 billion pounds ($2.3 billion) in venture capital funding, 72 per cent of the total 2.5 billion pounds raised by UK tech businesses, according to data from funding database PitchBook on behalf of the Mayor of London.

Eileen Burbidge, a partner at venture capital firm Passion Capital, said London was the leading hub for financial technology thanks to its position as one of the world’s biggest financial centers, while its universities helped to create companies offering artificial intelligence (AI).
Japan plans tighter regulation of tech giants

“We get a lot of calls and inquiries from investors in the US and Asia looking for fintech opportunities,” she told Reuters. “In fintech, AI and a few other sectors such as life sciences and robotics, London genuinely leads the world.”

London’s tech sector and its mayor, Sadiq Khan, have warned that Britain’s departure from the European Union could damage its appeal. However, Burbidge said there was no sign of this happening yet, beyond companies asking many more questions when looking to hire from abroad.

The data from PitchBook showed that both Berlin and Paris gained ground against London in the race for funds across Europe and that London failed to match the record levels it attracted in 2017, but the gap still remained significant.

Berlin attracted 937 million pounds of investment in 2018, almost double the previous year’s total, while 797 million pounds went to tech groups in Paris as President Emmanuel Macron stepped up his promotion of the country.

In Britain as a whole, investment in AI rose 47 per cent to 736 million pounds while 1.2 billion pounds went into the booming fintech sector and companies such as digital banks Revolut and Monzo.

Total venture capital funding in European tech slipped slightly in 2018, with 10.44 billion pounds raised, against 10.47 billion pounds in 2017.

OPINION

Has Technology Disrupted the Essence of Journalism?

Traditional journalism is set to fade in the digital era

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There was a time when there would be a 24-hour period of gap before the next newspaper would get published from any established news source. But the digital form of news story-telling today has suddenly changed the dynamics of everything – a transition many of us did not see coming.

Digital or Online Journalism, is a contemporary form of journalism where editorial content is distributed via the Internet, as opposed to publishing via print or broadcast. Digital news has inevitably stepped in with the surge in smartphone users and content consumption through portable screens like laptops, tablets, phones.

This online, social-media driven era of journalism has enormous benefits. With superior access to information, technology has revolutionised the way journalists gather data. A simple Google search can result in a plethora of rich text, information, and sources on the topic of interest.

Another value addition to journalism is how digital technology has allowed for creative and powerful visual content to complement stories. Graphics, animations, and top notch visuals are being easily created now.

Then there is the opportunity to discuss, engage, and debate with the audience too. Traditional journalism was a one-way communication channel. But now the channel is two-way which allows for immediate feedback. Anyone from the public can now give his or her opinion on the same platforms as the news sources. The digital age has contributed immensely to the emergence and development of ‘citizen’ journalism. This concept helps the public play an active role in the news dissemination process and includes online sharing of news-worthy content, spreading opinions, and using social media to gather and pass on news.

However, the challenges are also great in the digital arena, and in some ways are a threat to the traditional newsroom, and the dynamics of the profession of journalism.

Technology has made journalism so fast-paced that the newsroom now does not take the standard 24 hours to publish next morning’s paper. News is given out like wildfire; updated every minute. It can be posted anytime, anywhere and in most instances, is reported as soon as the word goes out. This generally results in verification and authenticity taking a back seat. The competition to get the word out there ‘faster than the others’ has changed the pace of storytelling and the impact of this fast pace is seen on the content which means it becomes more hurried and urgent. This also results in fake news – a globally reported consequence of the digital age of journalism.

According to a 2018 research by the Pew Research Centre, over two-thirds of US adults use some form of social media for their news consumption, “even if they don’t believe it.” About 43 percent use Facebook, 21 percent YouTube, 12 percent Twitter, 8 percent Instagram, 6 percent LinkedIn, 5 percent Reddit, 5 percent Snapchat, 2 percent WhatsApp and 1 percent Tumblr. The same survey also revealed that 57 percent of the people using social media for news expect it to be inaccurate but despite this mistrust, still continue to use the platforms.

Many media ventures are popping up, and getting successful because of their creative, snappy content that steals the limelight with click-bait headlines. These digital news organisations run ahead in time to give out the same news, with less effort, absence of reporters, and no accountability. Algorithm driven and social-media based news consumption has made truth less crucial.

Traditional journalism was more about intricately woven pieces of stories – taking time to gather information, to talk to as many sources possible, verifying information for credibility before a final piece was published. However, the news reporter does not go out to gather information anymore. The reporter has become a multi-faceted worker for a news organisation who gathers the story, captures audio, images, and videos. And with the help of modern easy to use tools; smartphones, go-pros, 360 degree feature and endless possibilities, the result is quick and fascinating.

With so much competition in todays’ digitally revolutionised age, advertising revenue has become harder to obtain. Without advertising, the journalism business model begins to fail. The industry has seen as a decline globally because of the difficulty in funding it. The Guardian, a British daily newspaper at one time lost 100 journalistic employees. A similar pattern is beginning to follow in Pakistan as the problem is the same for the whole industry.

One solution to this is a paywall – and organisations are beginning to use it to generate their revenue. Paid subscriptions to view news online are getting common. However even this goes against the essence of news, which is a ‘public-interest’ commodity. Charging people for content also means that the content must now be shaped ‘for’ the consumers. The true essence of journalism is to provide news stories that are authentic, objective, and unbiased completely. Now the challenge would be to provide such stories whilst making consumers feel that the content is worth their cash.

News organisations are now looking at the trending topics, and trying to give the audience what they want. The challenge here is for the editor to strike a balance and also provide news that have journalistic value and public importance too. Publications are shifting to less text-based and more engaging content using animations, videos, and pictures. The newsrooms are realising what is needed to keep the audiences’ attention intact and so they are designing content accordingly. Brand integration is another popular tool being used for advertising and has a lot of potential for revenue, even for news organisations.

Traditional journalism is set to fade as the digital era is taking over and more people are now consuming news through their screens, rather than papers or television. However, with the right ethics and professional values, quality control and good content creation, the essence of journalism can be kept intact in this shift towards a digital revolution.

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CULTURE & ARTS

The delights of reading!

Reading in print VS e-reading

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When nestled in a couch near a window, with a favourite book in one hand and an expresso in the other, there is a heavenly feeling that all book lovers can connect themselves with. And there is a likelihood that this moment is amongst their best minutes ever. But does it feel the same with words blinking on a screen?

With the coming of the advanced world, the notion of reading has greatly changed. There have been various discussions with respect to print reading and digital reading, and it has not been distinguished as yet since both have plenty of reasons to motivate their roles.

The traditional reading, that is, reading from the print, takes the crown for readers of the old school of thought, for a number of reasons. The first relates to the physical feature. Holding a book, turning the crispy pages, inhaling the smell of the book and actually seeing the reading progress with pages remaining less to the right-side are all possible with a printed book only. And for some this smell is no less than an intoxication, as American author Ray Bradbury has appropriately expressed in one of his axioms:

“A computer does not smell … if a book is new, it smells great. If a book is old, it smells even better… And it stays with you forever. But the computer doesn’t do that for you. I’m sorry.”

Secondly, reading isn’t merely a recreation moment if you ask a book freak. It’s an addiction, that involves cautiously crafted steps. The giddy feeling of stepping into a bookshop, sensing the musty scent of paper, running hands over the beautifully decorated bookshelves, glancing at the titles and carrying books back into your room to add to your collection, is a happiness that a bookworm looks forward to constantly. E-reading, on the other hand, would leave one deprived of this ecstasy.

‘Books are a great companion’, isn’t just a phrase. One is never alone if he or she has a book in hand. One can turn a page and immerse oneself into a tirade of emotions, adventures and perspectives. That’s how books have the power to keep the reader hostage for hours. Reading digital, on the other hand, is an alienated experience. Tell me if a screen can be hugged tightly after a good read with the feeling as intense as that of a paper book.

The list doesn’t end here, printed books have been considered to be friendly on eyes and give a genuine feeling of serenity. Digital reading only adds strains to the already drained mind with burning eyes. It has also been proved that looking at a gleaming screen before bed takes away sleep. If one reads for the sake of relaxation, digital reading surely doesn’t serve that purpose.

There is yet another custom in the worlds of bookworms. There is no doubt that books make the perfect present, and easily affordable to be more specific. So the next time readers are hit with an unplanned invitation, they don’t doubt to snag one good book from the nearest store. You can’t say this about e-book, however.

A more fascinating reason to champion paper books is the retention capability that scores high with printed books. As reported by The Guardian, a study by lead researcher Anne Mangen of Norway’s Stavanger University found that stories read on e-readers were not remembered as well as when they were read on a more traditional medium. In the same way, print reading is a more in-depth experience. Ziming Liu of San Jose State University conducted a study in the year 2005 where he found out that when people read using screens they spent more time scanning and jumping around to look for keywords and get as much information as they could in the least amount of time. This provided the evidence which proved that reading on screens was a less immersive experience as compared to reading print.

On the contrary, there are many reasons that have made digital reading a reality today. The most agreed reason would be that of accessibility. One can open up an e-book anywhere at any time, be it delay of a flight or waiting for friends in a restaurant. Unlike paper book, it doesn’t have to be carried along. Likewise, it spares readers from deciding which book to take on a trip. One can take a library long with no weight at all. Similarly, there comes a time when your favourite book isn’t available in stores. E-book can save you from that agony as you can download one in literally seconds. This point holds water for a country like Pakistan where about 97 percent of the population doesn’t have access to library.

In addition, digital reading is cost effective. Paper books are pricey, given the cost of publishing and distribution. E-books are affordable in comparison and can be obtained free of cost from various online platforms.

We cannot also ignore the fact that digital reading is eco-accommodating. Reading online saves the environment of the cost of papers that are overwhelmingly used to print books. According to statistics, global consumption of paper has grown 400 percent in the last 40 years. Now nearly 4 billion trees or 35 percent of the total trees cut around the world are used in paper industries on every continent. That equates to about 2.47 million trees cut down every day. With global warming soaring and our planet at the brink of destruction, digital reading provides an applauding option.

Undeniably, reading now has become more interesting and with different platforms like Good Reads, readers can connect to a network, where they can discuss their favourite books and authors. There are apps that can help one keep track of the number of books one reads. These consequently add some flavour to the reading experience.

During a time when technology is inescapable, adhering purely to print would be naive. A balance between both could be the right option. Nonetheless, both hardcore and digital books have noticeable dominance in the realm of reading. What matters most is a reader’s preference. Whether you like the convenience that comes with digital reading or are obsessed with printed book, never give up the habit of reading because it’s one of the few things that make this world beautiful.

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TECH

AT&T, Nestle, Epic pull ads from YouTube over videos exploiting children

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Google-owned YouTube said Thursday it was taking action to close a loophole that enabled users to share comments and links on child pornography over the video-sharing service.

The response came after a YouTube creator this week revealed what he called a “wormhole” that allowed comments and connections on child porn alongside innocuous videos.

“Any content — including comments — that endangers minors is abhorrent and we have clear policies prohibiting this on YouTube,” reported AFP.

“We took immediate action by deleting accounts and channels, reporting illegal activity to authorities and disabling comments on tens of millions of videos that include minors. There’s more to be done, and we continue to work to improve and catch abuse more quickly.”

The move came after Matt Watson, a YouTube creator with some 26,000 subscribers, revealed the workings of what he termed a “wormhole” into a pedophile ring that allowed users to trade social media contacts and links to child porn in YouTube comments.

Watson, who uses the name MattsWhatItIs, added that YouTube’s recommendation algorithm “due to some kind of glitch is actually facilitating this.”

Because ads automatically appear with many YouTube videos, Watson said the actions of the company amounted to “monetizing” the exploitation.

The post by Watson sparked a series of news reports, and according to some media, boycotts of YouTube ads from major firms including Nestle and Disney.

AT&T, which owns the WarnerMedia entertainment unit, confirmed it was pulling its ads from the service.

“Until Google can protect our brand from offensive content of any kind, we are removing all advertising from YouTube,” AT&T said in a statement to AFP.

Epic Games, known for its popular online game Fortnite, said it was suspending ads on YouTube following the news.

“We have paused all pre-roll advertising” on YouTube, a company spokesman said.

“Through our advertising agency, we have reached out to Google/YouTube to determine actions they’ll take to eliminate this type of content from their service.”

The glitch appeared to allow some users to circumvent bans on child porn by Google and other internet platforms.

The incident raised fears of a fresh “brand safety” crisis for YouTube, which lost advertisers last year following revelations that messages appeared on channels promoting conspiracy theories, white nationalism and other objectionable content.

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