Connect with us

Technology

What is Big Tech Contributing to Help Fight COVID-19?

Published

on

Big Tech COVID19 Financial Efforts

What is Big Tech Contributing to Fight COVID-19?

In the ongoing global crusade against COVID-19, everyone has a part to play. As the situation intensifies, the private sector has also been rallying to help governments and healthcare organizations cope with the situation, and U.S. tech companies are no exception.

With a combined market capitalization of over $4.7 trillion, the “FAAMG” Five—Facebook, Amazon, Apple, Microsoft, and Alphabet (Google)—wield immense influence on the economy, as well as the potential to impact lives during this challenging time.

The Biggest Moves by Big Tech

In today’s data visualization, we look at the financial contributions being made by Big Tech giants in response to the pandemic. The main categories that these actions fall into are:

  • Small businesses: Grants and ad credits
  • Media/News: Fact-checking and grants for local news
  • Healthcare: COVID-19 research and frontline support
  • Relief Efforts: Public safety and non-profit donations

What is each company pledging in financial efforts to relieve the strain on those affected most by the ongoing crisis?

Alphabet (Google)

Many people rely on Google to find reliable news and resources during the pandemic. Google’s parent company, Alphabet, has focused its financial support towards small businesses and healthcare researchers, mainly through offering millions of dollars in advertising credits.

CategoryAmountDetails
Small Businesses$340MGoogle ad credits for small businesses
$200MInvestment fund for NGOs and financial institutions to help small businesses
$20MAd credits for NGOs and financial institutions to help small businesses
$15MCash grants to non-profits to help small businesses
Media/News$6.5MFunding offered to Google News Initiative to support media outlets and fact-checkers
Healthcare$250MAd grants for WHO and 100+ global government agencies
$20MGoogle Cloud credits for researchers and academic institutions
Relief Efforts$5MDonations matched for COVID-19 Solidarity Response Fund, co-created by the UN Foundation and the WHO
Total: $856.5M

Google has also promised to ramp up the production of 3 million masks for the CDC Foundation. In addition, Google has partnered with Apple to create a secure and private contact-tracing tool to aid public health authorities.

Facebook

Facebook is another massive platform through which information—and misinformation—spreads quickly and easily. Especially in times of crisis, the spread of poorly-vetted information can have a severe impact on our health and well-being.

To try and combat this, the company is allocating funds towards fact-checking, as well as supporting local media outlets.

CategoryAmountDetails
Small Businesses$100MSmall Business Grants Program, for up to 30,000 businesses in over 30 countries
Media/News$75MMarketing to help publishers worldwide with declining ad revenues
$25MFacebook Journalism Project towards emergency grant funding for local news
$2MGrants and donations to fact-checking organizations e.g. International Fact-Checking Network (IFCN)
$1MGrants for local news
Healthcare$25MSupport for front line healthcare workers
Relief Efforts$10MDonations matched to the CDC Foundation
$10MDonations matched for COVID-19 Solidarity Response Fund, co-created by the UN Foundation and the WHO
Total:$248M

Facebook and Alphabet will together match up to $15 million in donations to the COVID-19 Solidarity Response Fund, which has raised over $127 million to date.

Amazon

During this unprecedented era of social distancing and lockdowns, the online retailer has become almost indispensable as ecommerce shoots up. Amazon has several initiatives on the go, including help to Seattle businesses and citizens, where its operations all started.

CategoryAmountDetails
Small Businesses$5.5MNeighborhood Small Business Relief Fund for over 400 Seattle small businesses
$1MCOVID-19 Response Fund, providing rapid-response grants to local businesses and vulnerable communities
Healthcare$20MAmazon Web Services (AWS) Diagnostic Development Initiative to speed up COVID-19 research
Relief Efforts$30M£24.5M (US$30M) provided to European non-profit and Red Cross organizations
$25MAmazon Relief Fund, dedicated to support independent delivery service partners and drivers
$10MAmazon Literary Partnership, an emergency initiative for artists and writers
$5MTotal donated in devices globally for healthcare workers and education efforts
$1MDonations matched to the non-profit Mary's Place
$1MTowards emergency response efforts in Washington, D.C.
Total:$72M

In addition, Amazon donated 800 laptops to public schools in the Seattle area, and has raised workers’ hourly and overtime pay. In early April, CEO Jeff Bezos also donated $100 million to Feeding America, a non-profit food bank.

Microsoft

Technology is playing an immense role in tracking COVID-19 and the progress we’re making to end it. As a result, Microsoft is directing its financial efforts towards its AI for Health program.

CategoryAmountDetails
Healthcare$20MAI for Health initiative commitment to focus on front-lines of research
China-specific Relief$6.5M¥46M (US$6.5M) donated in cash and tech support for China’s fight against the virus
Relief Efforts$1MCOVID-19 Response Fund, providing rapid-response grants to local businesses and vulnerable communities
Total:$27.5M

On top of these, Bill Gates officially stepped off the board of Microsoft in mid-March to focus on philanthropic efforts. The Gates Foundation has poured $100 million into funding for coronavirus research, and plans to pump billions more dollars into research in the coming weeks, to speed up vaccine development and manufacturing.

Apple

Finally, Apple is putting all its donations towards supporting public relief efforts, both in China and other affected parts of the world.

CategoryAmountDetails
Relief Efforts$15MDonations committed to global response efforts
China-specific Relief$7M¥50M (US$7M) donated to China’s long-term public health recovery efforts
Total:$22M

Further, Apple has donated 20 million masks to health workers, and aims to manufacture 1 million face shields per week.

Together, Microsoft and Apple contributed $2 million to the Seattle-based COVID-19 Response Fund, which has racked up $15.7 million in total donations to-date.

How the $1.25B Breaks Down

Looking at the information another way, how much money is flowing towards the various contribution categories?

Small businesses are the biggest beneficiaries of Big Tech’s economic relief, and understandably so—they are one of the most affected entities in the crisis. Healthcare research is also getting a boost, with funds focused on advancing potential treatments and vaccines in the pipeline, and supporting healthcare workers in the trenches of the pandemic.

CategoryCompany BreakdownTotal Amount
Small BusinessAlphabet: $575M
Facebook: $100M
Amazon: $6.5M
$681.5M
Media/ NewsFacebook: $103M
Alphabet: $6.5M
$109.5M
HealthcareAlphabet: $270M
Facebook: $25M
Microsoft: $20M
Amazon: $20M
$335M
Relief EffortsAmazon: $72M
Facebook: $20M
Apple: $15M
Alphabet: $5M
Microsoft: $1M
$113M
China-specific ReliefApple: $7M
Microsoft: $6.5M
$13.5M
Total:$1,252.5M

As a majority of work and socializing migrates online, Big Tech has the most to benefit from the current situation. Their positive efforts to lend a helping hand may well be a strategy for uplifting their poor reputation in the media—but is it enough?

Some might argue that for these Big Tech companies, $1.25 billion is just a drop in the bucket. In fact, other Silicon Valley players are single-handedly matching these contributions, such as Twitter’s CEO Jack Dorsey who pledged $1 billion of his own equity towards relief efforts and education.

However, that’s also not to imply that these financial efforts are the only actions taken by the five companies in question. Many of them are building critical educational and data-driven technological solutions to help mitigate the COVID-19 situation as it unfolds.

It also goes without saying that the applications they’ve created are helping us remain connected and supported—making life in lockdown a little bit easier.

All data as of Apr 12, 2020. Many thanks to our community who sent in requests for this content.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Comments

Technology

The World’s Tech Giants, Ranked by Brand Value

Tech giants and e-commerce brands are thriving—and running circles around less pandemic-proof brands.

Published

on

The World’s Tech Giants, Ranked by Brand Value

The pandemic has businesses everywhere on the ropes, with many firms filing for bankruptcy since lockdowns began. Despite the uncertainty, tech giants and major digital retail brands are still thriving—and some are running circles around those that are less pandemic-proof.

Using data from Kantar and Bloomberg, a recent brand report released by BrandZ shows which tech companies are proving their worth to consumers during COVID-19 chaos. With data covering almost 4 million consumers, BrandZ also reveals that the tech sector leads the world’s 100 most valued brands in terms of financial power and consumer sentiment.

Here’s how the top 20 tech brands from the report stack up:

RankCompanyBrand Value (2020)Change (%)
#1🇺🇸 Apple$352 billion+14%
#2🇺🇸 Microsoft$327 billion+30%
#3🇺🇸 Google$324 billion+5%
#4🇨🇳 Tencent$151 billion+15%
#5🇺🇸 Facebook$147 billion-7%
#6🇺🇸 IBM$84 billion-3%
#7🇩🇪 SAP$58 billion0%
#8🇺🇸 Instagram$42 billion+47%
#9🇺🇸 Accenture$41 billion+6%
#10🇺🇸 Intel$37 billion+17%
#11🇺🇸 Adobe$36 billion+29%
#12🇰🇷 Samsung$33 billion+7%
#13🇺🇸 Salesforce$30 billion+13%
#14🇺🇸 LinkedIn$30 billion+31%
#15🇨🇳 Huawei$29 billion+9%
#16🇺🇸 Oracle$27 billion+2%
#17🇺🇸 Cisco$26 billion-9%
#18🇺🇸 Dell$18 billion-2%
#19🇨🇳 Xiaomi$17 billion-16%
#20🇨🇳 Baidu$15 billion-29%

Out of the top five tech brands, Microsoft made the biggest moves with 30% brand value growth. Other big movers in the top 20 were Instagram (owned by Facebook), Adobe, and LinkedIn (owned by Microsoft), rising 47%, 29%, and 31%, respectively.

Broken down by nation, U.S. brands are dominating tech’s heavy hitters, claiming 14 of the world’s top 20 tech brands. Chinese brands round out much of the remaining top 20, including tech entertainment and social media giant Tencent, which rose 15% in brand value since 2019.

Big Tech’s Heavyweights

Tech’s top brands are raking in billions of dollars, capturing consumer mindshare, captivating people, and comforting them during volatile months. Apple, Microsoft, Google, Tencent, and Facebook—tech’s leading contingent—have made those moves look easy during what are rough times for many world brands. 

While most tech brands in the upper half of the top 20 saw significant increases in brand value, only Facebook and IBM were in decline from 2019, at -7% and -3% respectively. The biggest loss in tech’s top 20 came from China’s Baidu, which fell by -29% in 2020.

Waning consumer trust, thanks in part to the perceived misuse of personal data, is a gap that tech’s popularity alone won’t fill forever. (Following the Cambridge Analytica scandal, nearly 25% of Facebook account holders reported being “extremely” or “very” concerned about their personal data.)

Pandemic-Proof Applications

Coming in at eighth place, Facebook-owned Instagram gained 47% in brand value—a huge percentage, but less than the whopping 95% growth it had in 2019.

On the whole, digital apps have been faring well during the pandemic, especially those built for entertainment, shopping, social connection, and delivery.

These brands had anticipated, even invented, the online-offline dynamics of modern life that became indispensable for survival during the lockdown homebound weeks of avoiding the contagion. 

— BrandZ 2020 Global Top 100 Report

Top Brands, by Category

While the brand value growth rates of tech giants aren’t entirely immune to the effects of COVID-19, the likes of Apple, Microsoft, and Google are growing steadily, surpassed only by e-commerce leader Amazon. 

With data collected into April 2020, BrandZ’s report on the world’s top 100 brands reflects multiple shifting needs and consumer concerns at a categorical scale. 

While consumer affinity for e-commerce and social media brands has increased, fast food and beer brands took a hit, despite reports of increased alcohol consumption and food delivery during lockdown. It would seem then, that consumers have been valuing their tools and means of consumption.

Of the report’s 14 brand categories, only six increased in value, mostly by less than 5%. Of the top risers, six were tech brands and six were mainly e-commerce. 

Other upwardly mobile brands were those in the apparel and personal care categories. Much like retail, those categories had an increasing reliance on technology to deliver their products. 

The above chart shows overall categorical changes for 2020 led by retail, tech, and insurance. In the opposite corner, energy, and bank brands took the biggest hits.

Rolling with the Punches

The economic impacts of COVID-19 are undeniable. Even still, BrandZ’s top 100 brands marked a steady increase of 6% in value in 2020, compared to 7% the previous year.

This pandemic has offered up era-defining change, with tech and e-commerce seizing the day. But in a climate where nothing can be taken for granted, brands large and small are still taking their knocks.

For now, the brands that are embraced by consumers will be those that can apply a salve to the blows that 2020 keeps delivering. 

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading

Energy

Connected Workers: How Digital Transformation is Shaping Industry’s Future

This graphic explores the role connected workers play in achieving successful digital transformation and identifying new growth opportnities.

Published

on

Connected Workers: Shaping the Future of Industry

Digital transformation has upended businesses on a global scale, and no industry is immune from its powerful effects.

New technologies and enhancing customer experience are key drivers for companies investing in digital transformation, but the most important reason for prioritizing this shift is that it will allow them to leverage entirely new opportunities for growth.

However, with the speed of digital transformation accelerating at a furious pace, companies need to quickly adapt their working environment to keep up. This graphic from mCloud unearths the origins of the connected worker, and explores the potential applications of connected devices across industries.

The Rise of the Connected Worker

The mass adoption of smart devices has sparked a new wave of remote work. This type of working arrangement is estimated to inject $441 billion into the global economy every year, and save 2.5 million metric tonnes of CO2 by 2029—the equivalent of 1,280 flights between New York and London.

However, flexible or remote working looks different depending on the industry. For example, in the context of business services such as engineering or manufacturing, employees who carry out different tasks remotely using digital technologies are known as connected workers.

The term is not a one-size-fits-all, as there are many different types of connected workers with different roles, such as operators, field workers, engineers, and even executives. But regardless of an individual’s title, every connected worker plays a crucial role in achieving digital transformation.

Real Time Data, Real Time Benefits

When workers are connected to assets in real time, they can make better, more informed decisions—ultimately becoming a more efficient workforce overall. As a result, industries could unlock a wealth of benefits, such as:

  • Reducing human error
  • Increasing productivity
  • Reducing dangerous incidents
  • Saving time and money
  • Monitoring assets 24/7

While connected workers can enhance the potential of industries, the tools they use to achieve these benefits are crucial to their success.

Connected Worker Technologies

A connected device has the ability to connect with other devices and systems through the internet. The connected worker device market is set for rapid growth over the next two decades, reaching $4.3 billion by 2039. Industries such as oil and gas, chemical production, and construction lead the way in the adoption of connected worker technologies, which include:

  • Platforms: Hardware or software that uses artificial intelligence and data to allow engineers to create bespoke applications and control manufacturing processes remotely.
  • Interfaces: Technologies such as 3D digital twins enable peer-to-peer information sharing. They also create an immersive reflection of surroundings that would have otherwise been inaccessible by workers, such as wind turbine blades.
  • Smart sensors and IoT devices: Sensors that monitor assets provide a more holistic overview of industrial processes in real time and prevent dangerous incidents.
  • Cloud and edge computing: Using the cloud allows workers to communicate with each other and manage shared data more efficiently.

Over time, connected devices are getting smarter and expanding their capabilities. Moreover, devices such as wearables are becoming more discreet than ever, and can even be embedded into personal protective equipment to gather data while remaining unobtrusive.

Real World Applications

With seemingly endless potential, these devices have the ability to provide game changing solutions to ongoing challenges across dozens of industries.

  • Building Maintenance and Management
    Facility managers can access real time information and connect with maintenance workers on site to resolve issues quickly. Building personnel can also access documentation and remote help through connected technologies.
  • Task Management
    Operators in industrial settings such as mining can control activities in remote locations. They can also enable field personnel to connect with experts in other locations.
  • Communications Platform
    Cloud-based communication platforms can provide healthcare practitioners with a tool to connect with the patient, the patient’s family and emergency care personnel.

By harnessing the power of artificial intelligence, the Internet of Things, and analytics, connected workers can continue to revolutionize businesses and industries across the globe.

Towards a More Connected Future

As companies navigate the challenges of COVID-19, implementing connected worker technologies and creating a data-driven work environment may quickly become an increasingly important priority.

Not only is digital transformation important for leveraging new growth opportunities to scale, it may be crucial for determining the future of certain businesses and industries.

Subscribe to Visual Capitalist

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Continue Reading

Subscribe

Join the 200,000+ subscribers who receive our daily email

Thank you!
Given email address is already subscribed, thank you!
Please provide a valid email address.
Please complete the CAPTCHA.
Oops. Something went wrong. Please try again later.

Popular