Artificial Intelligence
The global market for e-Learning is projected to reach US$305.3 billion by 2025
New York, Sept. 08, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global E-Learning Industry” – https://www.reportlinker.com/p03646043/?utm_source=GNW
Specifically in the enterprise sector, with companies embracing a culture of learning to outperform competition, corporate e-learning is emerging as a high growth sub-sector within the market. Advantages offered by e-Learning driving its adoption in the academic and corporate sectors include versatility and flexibility as the learning pattern can be customized to suit all learning needs; audio visual learning tools enable better knowledge retention; information is made easy to understand and remember; higher degree of content coverage across all subjects; cost effective as it eliminates the need for infrastructure, travel, and other related expenditure; flexibility to listen to lectures and access content for unlimited number of times; reduced need to take down notes and enables more efficient management of time; reduced learning times; unrivalled convenience as it enables anytime, anywhere access to classrooms; encourages active and independent learning behavior among students; enables focused learning by allowing learners to selectively exclude subject matter elements not relevant to them; reduces reliance on a single teacher as a source for help and opens alternative sources of information via web forums, online tutorials, digital libraries at no additional costs.
Additionally, e-Learning systems based on cloud computing platforms enable course and content designers to create cost efficient and more accessible solutions. The migration from Adobe Flash to HTML5 eliminates conventional challenges associated with multimedia integration which remains vital for developing dynamic and interactive e-Learning course material that provide maximum engagement with the audience. Asia-Pacific ranks including China, is a major market led by factors such as growing importance of education especially in Asian countries with competitive labor markets; lack of skilled teachers in schools and colleges and the resulting increase in shadow education, private online tutoring and adoption of self-reliant learning strategies among students; and robust proliferation of smartphones and tablets and their use as an education and learning tool. Australia ranks as the most mature market, followed by China, India and South Korea.
Read the full report: https://www.reportlinker.com/p03646043/?utm_source=GNW
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
e-Learning Brings in a New Transformation in Education Sector
Rapid Internet Penetration Catalyzes Broad Based Growth in the
Market
Internet Ubiquity, Speed & Bandwidth Explosion Provides the
Support Platform for the Proliferation of e-Learning Services:
Internet Users as % of Population by Region for 2019 and 2024
Video Use in e-Learning Witnesses Robust Growth
Higher User Engagement With Short Videos as Compared to Other
Forms of Content Drives the Value of Creating Short But
Effective eLearning Video Content: % Engagement Loss by Video
Length
Academic Sector Remains the Largest Market for e-Learning
Corporate e-Learning: The Fastest Growing Segment
Global Average Per Capita Spending on Workplace Training of
Employees (In US$) for the Years 2012, 2014, 2018 and 2020
RECENT MARKET ACTIVITY
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
AR & VR Technologies Take e-Learning to the Next Level in
Efficiency Enhancement
Augmented Reality (AR) Makes eLearning More Engaging, and
Interactive
Virtual Reality (VR) & Wearable Devices Contribute to Cost-
effective Online Learning & Training
Advances in Artificial Intelligence Drives Adaptive and
Personalized eLearning
Commercialization of AI Technology Boosts Use of AI in e-
Learning: Global Market for Market In US$ Billion for 2018,
2020, 2022, and 2024
Companies Turn towards Learning Experience Platform (LXP)
Rise in User Generated Content
Technology Innovations Continue to Benefit Market Growth
Select e-Learning Products
Cloud: Growing Domain for e-Learning Application Development &
Delivery
Myriad Benefits of Cloud Drive Opportunities for Cloud as the
Future of e-Learning Infrastructure: Global Public Cloud
Services (In US$ Billion) for the Years 2018, 2022 and 2024
Big Data Analytics to Drive Personalized Learning Experiences
Role of Social Media in e-Learning Grows Stronger
Social and Collaborative Learning Picks up Momentum Among
Companies
Expanding Social Presence Continues to Play a Central Role in
the Integration of Social Networking with Education: Global
Number of Social Media Users (In Billion) for the Years 2014,
2018 and 2022
Rapid eLearning: A Viable Alternative to Conventional
Development Techniques
Supportive Government Policies Provide the Foundation for Growth
Emerging Economies Drive Growth in the Market
Web Conferencing Emerges as a Major Collaborative Tool in e-
Learning
Global Market for Video, Web & Audio Conferencing Systems and
Solutions (In US$ Billion) for the Years 2015, 2018, 2022 &
2024
Creation of a Personal Learning Environment (PLE), the Most
Rewarding Aspect of e-Learning
MOOCs: New Form of Online Training
LMS: A Key Contributor to e-Learning
Microlearning Gains Traction in Corporate eLearning
m-Learning Emerges to Revolutionize e-Learning
Worldwide Smartphone Sales (in Million Units) by Geographic
Region/Country for the Years 2018 & 2022
Smartphone Adoption Worldwide by Region (in %): 2018 & 2025
Apps Critical to the Growth of m-Learning
Development of HTML5
M-Learning VAS Offers Support Structure for m-Learning
Gamification of Learning, the Most Lucrative Way to Monetize e
-Learning
Shadow Education Emerges to Drive a Large Chunk of Growth in
the Academic/ Educational Sector
Global Market for Private Tutoring in US$ Billion for the Years
2018, 2020, 2022 and 2024
Growing Student Population Benefits Growth of e-Learning in the
Academic Sector
Burgeoning World Student Population Expands the Addressable
Market Opportunity for e-Learning Technologies: Student
Population (In Million) in Select Countries Worldwide for the
Year 2019E
Academic eLearning to Leverage the Growing Trend of BYOD in
Classrooms
e-Learning Rides the BYOD to School Wave, With Smartphone
Penetration Being the Highest in the 12+ Age Group of Children
& Teens: Smartphone Ownership by Age Group in the U.S for the
Year 2018
Proliferation of BYOD Among Enterprises Opens New Avenues for
the Growth of Corporate m-Learning
Global Spending on BYOD (In US$ Billion) for the Years 2017 & 2022
Key Challenges to Market Growth
4. GLOBAL MARKET PERSPECTIVE
Table 1: World Current & Future Analysis for E-Learning by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Sales in US$ Billion for Years 2020 through 2027
Table 2: World Historic Review for E-Learning by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets – Independent Analysis of Annual Sales in
US$ Billion for Years 2012 through 2019
Table 3: World 15-Year Perspective for E-Learning by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World Markets
for Years 2012, 2020 & 2027
Table 4: World Current & Future Analysis for Academic by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Sales in US$ Billion for Years 2020 through 2027
Table 5: World Historic Review for Academic by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets – Independent Analysis of Annual Sales in
US$ Billion for Years 2012 through 2019
Table 6: World 15-Year Perspective for Academic by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2012, 2020 & 2027
Table 7: World Current & Future Analysis for Corporate by
Geographic Region – USA, Canada, Japan, China, Europe,
Asia-Pacific and Rest of World Markets – Independent Analysis
of Annual Sales in US$ Billion for Years 2020 through 2027
Table 8: World Historic Review for Corporate by Geographic
Region – USA, Canada, Japan, China, Europe, Asia-Pacific and
Rest of World Markets – Independent Analysis of Annual Sales in
US$ Billion for Years 2012 through 2019
Table 9: World 15-Year Perspective for Corporate by Geographic
Region – Percentage Breakdown of Value Sales for USA, Canada,
Japan, China, Europe, Asia-Pacific and Rest of World for Years
2012, 2020 & 2027
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Market Overview
Corporate e-Learning Market
Online Learning: Increasing Role in Higher Education
Self-Paced eLearning Market
Strong Growth Characterizes PreK-12 & Higher Education
Virtual Schools & Homeschooling Drive Demand for e-Learning
Products
Market Analytics
Table 10: USA Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 11: USA Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 12: USA 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and Corporate
for the Years 2012, 2020 & 2027
CANADA
Market Overview
Modest Penetration of Online and Blended Learning
Market Analytics
Table 13: Canada Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 14: Canada Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 15: Canada 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and
Corporate for the Years 2012, 2020 & 2027
JAPAN
e-Learning Market Continues to Gain Traction
Language e-Learning: Market Overview
Corporate Sector Drives eLearning Market
Market Analytics
Table 16: Japan Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 17: Japan Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 18: Japan 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and Corporate
for the Years 2012, 2020 & 2027
CHINA
Greater Demand for Online Tutoring Platforms and High Mobile
Internet Penetration Rates Drives Growth Opportunities in
China
Creating Localized e-Learning Content for China
Online Higher Education: On the Growth Curve
Corporate e-Learning: A Promising Sector
Market Analytics
Table 19: China Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 20: China Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 21: China 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and Corporate
for the Years 2012, 2020 & 2027
EUROPE
Market Overview
Market Analytics
Table 22: Europe Current & Future Analysis for E-Learning by
Geographic Region – France, Germany, Italy, UK and Rest of
Europe Markets – Independent Analysis of Annual Sales in US$
Billion for Years 2020 through 2027
Table 23: Europe Historic Review for E-Learning by Geographic
Region – France, Germany, Italy, UK and Rest of Europe Markets –
Independent Analysis of Annual Sales in US$ Billion for Years
2012 through 2019
Table 24: Europe 15-Year Perspective for E-Learning by
Geographic Region – Percentage Breakdown of Value Sales for
France, Germany, Italy, UK and Rest of Europe Markets for Years
2012, 2020 & 2027
Table 25: Europe Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 26: Europe Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 27: Europe 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and
Corporate for the Years 2012, 2020 & 2027
FRANCE
Market Overview
Market Analytics
Table 28: France Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 29: France Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 30: France 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and
Corporate for the Years 2012, 2020 & 2027
GERMANY
Table 31: Germany Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 32: Germany Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 33: Germany 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and
Corporate for the Years 2012, 2020 & 2027
ITALY
Table 34: Italy Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 35: Italy Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 36: Italy 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and Corporate
for the Years 2012, 2020 & 2027
UNITED KINGDOM
Market Overview
Corporate e-Learning on the Growth Curve
Market Analytics
Table 37: UK Current & Future Analysis for E-Learning by
Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 38: UK Historic Review for E-Learning by Segment –
Academic and Corporate Markets – Independent Analysis of Annual
Sales in US$ Billion for Years 2012 through 2019
Table 39: UK 15-Year Perspective for E-Learning by Segment –
Percentage Breakdown of Value Sales for Academic and Corporate
for the Years 2012, 2020 & 2027
REST OF EUROPE
Table 40: Rest of Europe Current & Future Analysis for
E-Learning by Segment – Academic and Corporate – Independent
Analysis of Annual Sales in US$ Billion for the Years 2020
through 2027
Table 41: Rest of Europe Historic Review for E-Learning by
Segment – Academic and Corporate Markets – Independent Analysis
of Annual Sales in US$ Billion for Years 2012 through 2019
Table 42: Rest of Europe 15-Year Perspective for E-Learning by
Segment – Percentage Breakdown of Value Sales for Academic and
Corporate for the Years 2012, 2020 & 2027
ASIA-PACIFIC
An Overview
The eLearning Curve
Corporate e-Learning Holds Significant Growth Potential
Australia
Factors Driving Adoption of eLearning Programs
eLearning in Primary and Secondary Education (K-12)
eLearning in Higher Education
Corporate & Government Training Programs
India
Government Initiatives to Spur Demand for eLearning in India
eLearning Opportunities
e-Learning in Higher Education
Growing Significance of eLearning in Corporate Sector
South Korea
Market Analytics
Table 43: Asia-Pacific Current & Future Analysis for E-Learning
by Segment – Academic and Corporate – Independent Analysis of
Annual Sales in US$ Billion for the Years 2020 through 2027
Table 44: Asia-Pacific Historic Review for E-Learning by
Segment – Academic and Corporate Markets – Independent Analysis
of Annual Sales in US$ Billion for Years 2012 through 2019
Table 45: Asia-Pacific 15-Year Perspective for E-Learning by
Segment – Percentage Breakdown of Value Sales for Academic and
Corporate for the Years 2012, 2020 & 2027
REST OF WORLD
Latin America
Underdeveloped Traditional Education System Provides Greater
Growth Opportunities in Latin America
Brazil
Mexico
Middle East and Africa
Digitization Initiatives to Shape Growth in Africa
Qatar
Saudi Arabia – Increasingly Focused on e-Learning
United Arab Emirates (UAE)
Market Analytics
Table 46: Rest of World Current & Future Analysis for
E-Learning by Segment – Academic and Corporate – Independent
Analysis of Annual Sales in US$ Billion for the Years 2020
through 2027
Table 47: Rest of World Historic Review for E-Learning by
Segment – Academic and Corporate Markets – Independent Analysis
of Annual Sales in US$ Billion for Years 2012 through 2019
Table 48: Rest of World 15-Year Perspective for E-Learning by
Segment – Percentage Breakdown of Value Sales for Academic and
Corporate for the Years 2012, 2020 & 2027
IV. COMPETITION
Total Companies Profiled: 292
Read the full report: https://www.reportlinker.com/p03646043/?utm_source=GNW
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Artificial Intelligence
Saviynt Appoints James Ross as RVP-ANZ to Strategically Accelerate Growth in the Australia and New Zealand Region
LOS ANGELES, May 22, 2024 /PRNewswire/ — Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced the appointment of James Ross as RVP-ANZ as the company has seen rapid growth in the Australia and New Zealand (ANZ) region, with double digit growth year over year.
Saviynt has solidified its position as a key player in the cloud identity security landscape with its Identity Cloud. The company’s continued focus on innovation and client satisfaction has contributed significantly to building a safer Australia with prominent customers across the energy and utilities, finance, retail, energy, and transport and logistics sectors.
“James’ appointment as the Regional Vice President (RVP) for ANZ marks a strategic move to accelerate growth and solidify market presence in the region,” said Dan Mountstephen, SVP APAC at Saviynt. “With a proven track record of dynamic leadership at Collibra, ForgeRock, and CA Technologies, James brings a wealth of experience and expertise to the role. His visionary approach and collaborative spirit are poised to inspire and mobilize teams toward ambitious targets.”
Saviynt has consistently expanded its client base and deepened its relationships with existing customers through customized solutions and unparalleled support, cementing its reputation as a trusted partner in the region’s cybersecurity ecosystem. As RVP ANZ, Ross is set to foster key partnerships and implement agile strategies to propel the company towards new heights of success in the dynamic ANZ market.
“Joining Saviynt excites me because it’s an opportunity to help more organizations simplify their identity ecosystem in order to drive efficiencies and improved security posture. I am committed to leveraging Saviynt’s cutting-edge solutions to continue to broaden our partnerships in the region to improve our accessibility for customers, strengthen our regional delivery, whilst continuing to provide a great customer experience,” said Ross.
To learn more about Saviynt, please visit our website.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt’s cutting-edge solutions have been recognized as industry leaders. For more information, please visit www.saviynt.com.
Press Contact
Jacklyn [email protected]
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Artificial Intelligence
Appdome Sweeps Cybersecurity Excellence Awards
Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.
“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense: The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance: Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met. Mobile Application Security: With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
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Artificial Intelligence
Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation
Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation 32% of professionals in finance have seen whistleblowers victimized behind their back or to their faceJACKSONVILLE, Fla., May 21, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.
Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “‘might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:
59% have seen whistleblowers subsequently left out of important decisions 33% have seen whistleblowers moved to a different team 32% have heard whistleblowers called derogatory names behind their backs or directly to their faceWhen asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch”, said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”
Jennifer Griffith, whistleblower who was called a “traitor”, said: “Choosing to blow the whistle involves more than just the desire to right a wrong. It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it. It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat”, said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
Georgina Hallford-Hall, CEO of Whistleblowers UK, said: “Too many organisations talk the talk but fail to engage with whistleblowers often at great cost to both. Technology used properly can remove the fear that both organisations and whistleblowers have about dealing with whistleblowing because it removes the person and focuses on the concerns or malfeasance. WhistleblowersUK are calling on the UK government to introduce an Independent Office of the Whistleblower to protect everyone from discrimination setting standards that end stigmatisation and discrimination making it safe to speak up.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
Notes to Editor
Methodology
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 – 05/07/24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
For more information, please contact:
Fight or Flight for [email protected] / +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
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