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Technology companies in Las Vegas are the strongest despite the problems of the economy


On Thursday, the “Las Vegas” Electronics Show, the prominent annual meeting of technology enthusiasts, kicked off in a foggy atmosphere linked in particular to inflation and exchange operations in the sector, as well as supply difficulties.

The exhibition will run from January 5 to 8, in the city located in the US state of Nevada, where more than 100,000 people working in this sector from 100 countries are expected to attend.

“The 2023 edition marks a new step toward returning to pre-pandemic levels,” said Steve Koenig, vice president in charge of research at the Consumer Technology Association (CTA), the organizers of the event.

In 2022, Koenig noted, "a bold decision was made to return to the urban format," but the turnout was much lower compared to previous editions, with many exhibition halls empty.

This year, manufacturers of electrical appliances, automobiles, and cutting-edge AI startups have returned to participate in droves.

In this context, the South Korean giant "Samsung" group chose the "Las Vegas" exhibition as a showcase for its products in the American market, such as washing machines of its own production, which automatically determine the amount of dirt on clothes and their quantity. of the required detergents.

The company is also working on designing an oven with a built-in camera to monitor the cooking process live, or videotape the process, a function designed specifically for social media influencers.

contraction force

The Las Vegas show has also become one of the most important auto shows, with advertisements attracting the attention of major companies, including BMW, Stellantis, and Sony.

"Gone are the days when a Las Vegas show was about TVs, laptops, and Internet-connected home appliances," said Forrester analyst Thomas Howson.

"Now that software is integrated into all devices, brands are showcasing innovations in electric vehicles, robotics, and AI applications," he added.

Fair organizers are relying on technology to reinvigorate the economy, as has happened in the past with smartphones or high-speed internet.

Steve Koenig said during a conference on the sidelines of the exhibition, in particular referring to robots that will make factories more efficient and automate agricultural machinery.

CTA President Gary Shapiro explained that technology increases productivity, and thus reduces production costs, making it "a deflating force for the global economy."

However, companies will have to choose the products they offer carefully, as rising prices and post-pandemic saturation discourage consumer spending.

CTA estimates that revenue from the US technology sector (automobiles, TV, mobile apps, etc.) will drop to $485 billion in 2023, compared to $512 billion in 2021, which is a record year.

In a statement, the organization indicated that "the imminent recession and inflation will affect household budgets, but the revenues of the technology sector will remain about $50 billion higher than the numbers recorded before the pandemic."

trait in humans

During the Corona pandemic, many technology companies have benefited greatly from the quarantine measures, hiring large numbers of people.

But last year was a year of market corrections, with social plans in place for all of Silicon Valley's tech companies.

On Wednesday, IT group Salesforce announced that it would lay off about 10% of its employees, or approximately 8,000 jobs. Then, on the same day, e-commerce giant Amazon announced layoffs of "more than 18,000" jobs, including in Europe.

But for Steve Koenig, this fact should not obscure the real problem associated with the general shortage of qualified workers: "20 years ago, technology was an advantage for any company. Today, the advantage is in people."

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