When the pandemic began, many organizations in Ireland were ready for full remote-work operations. That’s because they had already implemented remote-work policies years earlier—to great success. It’s becoming clear that today’s dynamic companies will need to improve their remote operating capacity. They will have to lean into best practices for achieving connectivity, provide upward-mobility opportunities for their employees, and use the best technology to remain competitive in the global fight for talent.
For leaders now looking to build thriving remote-first teams, Irish organizations that had already incorporated their remote-work plans before the pandemic offer three important lessons they’ve learned over the years.
Last fall enormous 60+ foot waves crested the coast of Sligo on the West Coast of Ireland, creating stunning scenes and enticing surfers out into the water. A photo of one surfer balancing on enormous waves surging toward the shores that caught international attention provided a reminder of what's possible when conditions are just right.
Cell and Gene Therapy (CGT) is a major breakthrough in medical science. The human genome was sequenced only 16 years ago, yet the website Centerwatch reports that the U.S. Food and Drug Administration expects to receive some 200 gene and cell therapy investigational drug applications in the next two years. According to the National Cell Manufacturing Consortium, this space will grow at an annual rate of more than 40% in the next 10 years. CGT companies are finding robust, repeatable and scalable ways to manufacture these life-saving products and tests to ensure they are safe and effective therapies. Today, as demand exceeds supply, finding the right talent is key to evolving and expanding this exciting, life-changing industry.
The Covid-19 pandemic has impacted the world in various ways but one unexpected result has been hastening the movement toward Industry 4.0, also called lights-out manufacturing, in the biopharmaceutical and med-tech industries.
The Covid-19 pandemic necessitated an almost-overnight transition to remote work, causing Time Magazine to describe the Coronavirus outbreak as “the world’s largest work-from-home experiment.”
Having left on a flight from Dublin Airport headed to JFK Airport in September to take up my new role running IDA Irelands U.S. operation, I knew that New York would look different but it was still a bit unreal to see the normally bustling terminals so quiet, streets so sparsely populated and even the taxi drivers subdued. It was abundantly clear that this job I had been looking forward to would be profoundly changed -- as was most of the world -- as a result of the pandemic that had impacted so much.
Imagine if our smartphones also contained our passports, our driver's license, birth certificate, exam results, qualifications and proof of address - all stored in a digital wallet?And what if the technology existed to confirm that the issuer of these vital documents was digitally verifiable? Meaning businesses were secure in the knowledge that all the data exchanged between the holder and verifier would pass securely between them - with no intermediaries - and was protected from eavesdropping or tampering by the best encryption technologies available. In other words, privacy would be fully preserved.
Fintech is one of the sectors that has remained resilient during the COVID pandemic. In fact, some US fintech companies with European offices have continued to expand and grow their European footprint. Currently, there are 500 million people in the European Union in 27 different countries with border-free access to markets. Companies such as Square and Stripe decided early on to pursue their European customers by setting up offices in Ireland.
When your business is growing and it’s time to expand overseas to Europe, deciding on the best location typically requires executive teams to hop on a plane for in-person site visits. In the 40 years that IDA Ireland has had an office in Silicon Valley, there has never been a time when it was not practical for prospective clients to travel to Ireland - until now.
US companies in Europe look at the complexities of having remote workers in another jurisdiction
We spend increasingly large parts of our daily lives online. Data underpins the digital economy and data centres organize this data to help us connect, discover, communicate, work, and learn with ever greater efficiency and impact.
COVID-19 has led to a surge in the consumption of digital content. With the strain on US domestic studio space, Ireland emerges as a strong hub.
COVID19 has led to a surge in the consumption of digital content. With the strain on US domestic studio space, Ireland has emerged as a stong hub for US content creators.
An interview with Leo Clancy, Head of Technology, Consumer and Business Services at IDA Ireland
IDA Ireland has been encouraging foreign direct investment into the country for more than 70 years. Leo Clancy oversees 40% of its investor portfolio, including the likes of Microsoft, Google, Facebook and Amazon. Prepaid card provider Soldo, discusses how IDA Ireland supports multinational investment throughout the country and the knock-on benefits for the local business ecosystem
The potential business benefits of Remote Working have been acknowledged for some time – enhancing the ability to attract and retain top talent, contributing to a more contented and productive team, and lowering the cost base. Remote working can contribute to regional development through sustainable rural communities, while also addressing inclusion and diversity in workforces by removing some barriers to work. It also offers companies and employees the opportunity to focus on output rather than attendance, while building resilience and business continuity.
The enticement of a relatively wealthy market of 500 million consumers often makes opening a European office one of the earlier expansion steps for American technology companies. However, there are right and wrong ways to establish a European operation, with fostering the right culture a key aspect that will significantly impact the hoped-for financial contributions.
IDA Ireland has reached 100,000 followers on LinkedIn.
Initially set up in 2010, the first month of 2020 has seen the page reach the milestone of 100,000 followers. Thanks to all our followers for engaging with us.
Companies across a diverse range of industries are using artificial intelligence to streamline data management and analytics, gain a competitive edge and find new ways to drive growth. As more companies look to capitalize on AI technologies for their data-driven decision making, there’s a demand by businesses to find ways to avail themselves of AI quickly and cost effectively. AI is starting to emerge as a service, and I see 2020 being the year that AI as a Service (AIaaS) explodes onto the market.
In a recent report published by Accenture, entitled Does Digital leadership in Banking really matter?, links were established between the digital maturity of a bank and its market valuation. The essence of the argument is that banks who successfully digitalise their data enjoy greater efficiencies that lead to lower costs as a percentage of revenue, which leads to a higher market valuation. Increasingly, banks and other financial services firms are turning to blockchain technology as a means of storing and transferring data in order to increase transparency, lower costs and accelerate the speed at which it is transferred.
As Brexit approaches, uncertainty continues to surround the potential exit of the United Kingdom from the European Union. While there are far reaching implications, taxes and trading systems are just two considerations that will impact American chip and system engineers and their employers. The situation is complex and becomes more challenging as each day passes. Strong trade bonds tie Europe and the US - data from the Office of the U.S. Trade Representative shows that the EU/US bilateral trade flow is the biggest in the world, far bigger than that between the US and China. In 2018, the U.S. imported $683.9 billion of EU goods compared with $557.9 imported from China. U.S. exports reached $574.5 billion to Europe while only $179.2 billion was imported to China. Trade with the UK is significant, the U.S. accounted for 19% of U.K. exports and 11% of imports.
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