Category Archives: Technology

Tech Success in NYC

As Sam Natapoff recently explained in an article in Salon, “Fifteen years ago, New York City was a tech afterthought.” A lot has changed though over the last decade and a half with it being ranked as “the second highest performing startup ecosystem in the world after Silicon Valley.” Statistics show that New York City features:

  • More than 280,000 tech jobs in the city
  • More than 128,000 tech jobs in the state
  • A 57% increase in tech employment between 2010-16
  • 7 meter square feet of Manhattan office space occupied by tech tenants in 2016
  • 7,500 New York based tech companies (23% increase since 2010)

And even more than that, New York is actually beating Silicon Valley in some sub-industries.

New York has successfully resuscitated its economy resulting in the recruitment of human capital and the promotion of technology and VC financing.  What’s also impressive is that New York has done this without having “a strong engineering base;” rather, it utilized “the natural strengths of its existing economy, its diverse industry base, its human capital diversity, and its desirability as a place to live.”

New York has always had a good business background.  According to an article by Gerrit De Vynck and Julie Verhage earlier this year part of the city’s success can be attributed to diversity vis-à-vis gender and race as well as “the metropolis’s centuries-old status as a center of global commerce. New York provides a contrast to Silicon Valley, which has been criticized for tunnel vision, being insular, out of touch with the rest of the country and overly homogeneous–both company employees and the people for whom they create products.”

New York Business: Getting Up on Technology

It has been found that many businesses nationwide are not taking full advantage of modern technologies.  While New York businesses seem to be faring better, there is still a very long way to go to move them from manual, out-of-date processes to cutting edge technology.

Based on a recent study by Salesforce, it was discovered that NYC businesses are encountering problems in this area due to a variety of reasons. Some of them are:

  1. New Yorkers are more stressed and thus SME owners are more likely to be concerned about economic fluctuations than those in other states.
  2. A large majority of business owners in NYC believe that the region is a good place to launch a company.
  3. NYC is better than other businesses across the country when it comes to hiring an IT staff. The average statewide is 83 percent of those without and in New York it is a little less (71 percent).
  4. Customer information tracking systems are outdates, with many using email or spreadsheets.
  5. New Yorkers are more likely than their counterparts to use a Customer Relationship Management app/system.
  6. More NY business owners are prepared to use artificial intelligence than those nationwide.
  7. Should the option become available to them, in New York, 30 percent of business owners would probably replace at least some of their staff with robots.
  8. A mere 29 percent of NY business owners use either business analytics or intelligence software as a measuring tool.

Meanwhile, museums in the area are really employing technology as a way of creating new experiences.  This has come as a response to customer need, since museum visitors are these days expecting much more special effects and digital technologies than they did in the past. Indeed, as NYC’s American Museum of Natural History, Chief Digital Officer Catherine Devine noted: “Where we used to have one way of visiting and experiencing a museum, people now expect a variety of ways. It’s about exploring technologies.”

Some of the technologies being used as NY museums today include: the Explorer app, 3D Printing and 3D Scanning, Virtual Reality, Roboguides (telepresence robots) and more.