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Strengthening Our Commitment to Open Source Security

2025-11-17 08:13:34 By Bonnie Campbell

Enthusiasts of open source software (OSS) gathered at the Open Source Security Foundation's (OpenSSF) Secure Open Source Software Summit in Washington, DC, to promote collaboration across diverse sectors such as business, government, and critical infrastructure.

Open source software, which is freely available for use and modification, is a key catalyst for innovation among many technology professionals. At JPMorgan Chase, our extensive team of over 57,000 technologists incorporates numerous open source components into our tools, offering a competitive edge for our company, clients, and customers.

Why is OSS security so important?

The collaborative and transparent nature of OSS enables technology experts to address common challenges collectively, resulting in software that supports critical operations in both the public and private sectors, including national security systems and essential infrastructure. While the open accessibility of OSS fosters innovation, it can also be exploited by malicious actors to identify and target vulnerabilities in widely-used code, affecting organizations broadly. The recent increase in high-profile OSS attacks highlights the need for robust public-private partnerships to develop tools and solutions that support the many volunteers maintaining OSS. We all have a role in enhancing OSS security, and we invite others who use open source to join us in this crucial effort.

What progress has the Open Source Community made in the past year?

In May 2022, OpenSSF introduced the Open Source Software Security Mobilization Plan, which has been pivotal in guiding industry and government initiatives to protect the open source software supply chain. The plan has led to improvements in OSS security education and the development of tools such as Sigstore, for secure software validation, and Alpha-Omega, for identifying and resolving vulnerabilities in popular packages.

JPMorgan Chase, in partnership with other financial institutions, established the Financial Services Information Sharing and Analysis Center (FS-ISAC) Supply Chain working group. This group aims to share emerging supply chain threats with the financial sector and develop guidance to counter such threats, as demonstrated by the Software Supply Chain Primer White Paper published in 2025.

What happened at the Summit?

Summit attendees discussed security challenges in OSS consumption across critical infrastructure sectors, the potential for leveraging AI advancements to enhance OSS security, and the shared responsibility to increase OSS resilience in critical infrastructure. The significant U.S. Government presence at the Summit underscores the public sector's commitment and support for initiatives aimed at improving OSS security and fostering strong public-private partnerships for more secure outcomes.

The summit concluded with discussions on strategies for achieving tangible results aligned with three objectives for the coming year: (1) providing security education for OSS developers and stakeholders, (2) strengthening the security of OSS repositories, and (3) facilitating cross-collaboration for incident response.

What are our next steps?

There is further work to be done in enhancing tools to counter software supply chain attacks. We recognize the importance of supporting OSS evaluation tools like Security Scorecard, an automated security tool that helps users assess the risks associated with their software dependencies, and Software Bill of Material (SBOM) capabilities, which provide an inventory of application components. At JPMorgan Chase, our security teams are committed to developing such solutions and are collaborating with organizations like OpenSSF to create more integrated tooling and capabilities that will foster safer practices and prevent significant future software supply chain security breaches.

Fulfilling Our Role

JPMorgan Chase is steadfast in our commitment to partnerships aimed at improving open source security. As a founding member of OpenSSF and through our leadership in the Financial Services Sector Coordinating Council (FSSCC) and the Financial Services Information Sharing and Analysis Center (FS-ISAC), we will continue to play an active role in supporting and shaping the efforts of both industry and government to secure the open source software ecosystem.

Very Supportive

Tech Trends

Strategies for Safeguarding Your Devices from Malicious Software

2025-11-17 08:13:34

Cybercriminals often deceive users by embedding harmful elements such as malware, viruses, and spyware within legitimate-looking software. Here are some key tactics to help you ensure that the apps and software you install on your devices are genuine. Remember, these tips are for informational purposes only. DESKTOPS AND LAPTOPS (INCLUDING WINDOWS, MAC, AND CHROMEBOOKS) Source software from trustworthy platforms. When looking for software, verify its origin to ensure it's from a reputable source. Research the software you plan to use and visit the official website of the provider to confirm its authenticity and compatibility with your system. Download software directly from the provider's website or from recognized app stores, such as the Microsoft Store for Windows or the Mac App Store. Official vendors routinely check their apps for security vulnerabilities and release updates. Downloading from unofficial sources could expose you to security threats and other risks. Scan files before installation. Utilize your antivirus software to scan the downloaded file to confirm it is free from malware. This adds an extra layer of protection. Locate the downloaded file and double-click to begin the installation process. Follow the on-screen instructions to complete the setup. Enable automatic updates. After installation, check for any pending software updates. Visit the software's official website or use its built-in update feature to ensure you have the latest version. Enable auto-updates to make sure you receive important security patches and updates without delay. Potential consequences of installing malware-infected software: Malware can collect sensitive information and potentially take control of the infected computer by capturing data and possibly recording keystrokes, executing harmful code. It may install additional harmful software, compromising security. While the computer may initially appear normal, a compromised system may later show signs such as slow performance, unexpected pop-up ads, or frequent crashes. In severe cases, the attacker could gain full control over the device, potentially rendering the computer unusable and accessing personal accounts, leading to financial loss or identity theft. Keep in mind: "Free" downloads can come at a cost. Be cautious with "free" software or if you're unsure about its legitimacy, as it could be pirated. Such software might have been illegally modified, meaning it won't receive official updates, patches, or feature releases like legitimate software. It might also contain malicious extras like malware or create opportunities for cybercriminals to exploit and control your device. Beware of unsolicited links or pop-ups. If you encounter a pop-up urging you to update an app while browsing, it's likely a cybercriminal's ploy to gain unauthorized access to your device. Avoid clicking on these links and close the pop-up immediately. Stay vigilant against SEO poisoning. Websites ranking high in search results may seem more legitimate, but appearances can be misleading. SEO poisoning is a cyberattack that manipulates search engines to rank sites with malicious software higher in the results. Always verify the site, even if it's ranked highly. Avoid clicking on sponsored ad links, as they are often misused by malicious entities. SMARTPHONES AND TABLETS Many of us select apps from the Google Play Store, Apple App Store, or Amazon App Store, which conduct thorough checks before releasing apps – but they're not infallible. Even with trusted app stores, exercise caution when downloading apps. Before installing any app, consider the following steps. Verify the app's name. Ensure the spelling is correct and there are no typos or misplaced/extra spaces.Examine the app's permissions. Be wary of apps requesting unnecessary or excessive permissions. For instance, does a calculator app really need access to your camera and location? Identify red flags in the app's description. These might include grammatical errors, vague or generic information, and a lack of specifics about the app's functionality.

Tech Trends

Fueling Creativity: The Worldwide Reach of Tech for Social Good

2025-11-17 08:13:34

The inception of the Fueling Creativity program in 2018 marked a pivotal moment, igniting the passion of young innovators to delve into technology and actualize their imaginative concepts. This initiative has profoundly influenced over 73,000 students across more than 300 primary schools, igniting a curiosity in STEM. In 2024, the program was integrated into JPMorganChase's portfolio of Tech for Social Good, significantly extending its global footprint. The charity behind Fueling Creativity was established by two prominent figures from JPMorganChase’s Glasgow Technology Center, with a mission to enrich their community by fostering digital innovation among the youth. Collaborating with a team of six technology experts and educators, Fueling Creativity engaged with four Glasgow schools to initiate an app design contest. The primary objective was to encourage students to conceive an app that could ease daily routines, address a challenge, enhance the world, or provide amusement. The top ideas were subsequently transformed into operational apps by JPMorganChase’s tech volunteers, allowing students to exhibit their creations to their social circles. The tech-savvy youngsters proposed a variety of app ideas, from improving communication to simplifying household tasks, enriching educational experiences, or animating characters and illustrations. Their innovative insights have been an invaluable asset, fostering a novel perspective on our engagement with the world. With a focus on inclusivity, Fueling Creativity has successfully expanded its influence to the most isolated regions of Scotland, including the Scottish islands, ensuring that every young person, irrespective of their background, has an opportunity to engage. The program has organized several nationwide challenges in England and Scotland, concentrating on topics like environmental sustainability, spreading holiday cheer, and advocating for STEM, providing a platform for students from various regions to demonstrate their ingenuity and innovation. To further encourage STEM education beyond the app design contests, Fueling Creativity has crafted workshop materials aimed at enhancing community and family involvement. Equipped with green screens, modular building blocks, and mini robots, Fueling Creativity workshops motivate children aged 5-12 to produce short stop-motion films. Through this experience, they are inspired to think critically and creatively, tackle challenges, grasp the basics of coding, and interact with their peers. Moving forward, the trajectory of Fueling Creativity exemplifies the strength of collaborative endeavors and innovation. With the app design competition now part of Tech for Social Good and the commitment of numerous volunteers and educators, Fueling Creativity is set to inspire the next generation of digital innovators.

Tech Trends

Continuing Our Commitment to Further Open Source Security

2025-11-17 08:13:34

The open source software (OSS) community gathered last week at the Open Source Security Foundation (OpenSSF) Secure Open Source Software Summit in Washington, DC to continue collaboration across industry, government, and critical infrastructure. Open source software is code that is freely available for anyone to use or modify. It drives innovation to many technologists working on world-class solutions, including JPMorgan Chase’s 57,000-plus technologists, who incorporate thousands of open source packages in developing tools that give our company, clients, and customers an edge. Why is securing Open Source Software important? OSS’s collaborative and freely accessible nature empowers technologists to collectively address shared challenges. The result is software that underpins critical functions across government and industry, including national defense systems and critical infrastructure. While the unique accessibility of OSS is a catalyst for innovation, it can also allow bad actors to find and include weaknesses in common code bases and exploit organizations at a large scale. We have witnessed a substantial number of high-profile attacks on OSS, underscoring the importance of strong public-private partnership to develop tools and solutions that will aid the many dedicated volunteers that maintain open source code. We are all responsible for bettering open source security, we encourage others using open source to join us in this critical effort. What has the Open Source Community accomplished in the last year? In May 2022, OpenSSF launched the Open Source Software Security Mobilization Plan, which was pivotal in shaping industry and government’s efforts to secure the open source software supply chain. The plan steered the enhancement of open source security education and the development of tools such as Sigstore, which enables secure validation of software, and Alpha-Omega, which finds and fixes vulnerabilities in the most commonly used packages. JPMorgan Chase, along with other financial institutions, established the Financial Services Information Sharing and Analysis Center (FS-ISAC) Supply Chain working group to socialize emerging supply chain threats to the Financial Sector and create guidance to address threats, such as the Software Supply Chain Primer White Paper published in 2025. What happened at the Summit? Participants at the Summit discussed the security challenges for the consumption of OSS in critical infrastructure sectors, potential opportunities to leverage advancements in AI for the greater benefit of open source security, and the need for shared responsibility to improve resilience of OSS in critical infrastructure. The significant presence of U.S. Government officials at the Summit is a testament to public sector’s active involvement and support for initiatives to better open source security and to continue strong public-private partnerships to achieve more secure outcomes. The summit concluded with participants discussing approaches to tangible outcomes aligned to the three objectives to be accomplished in the next year: (1) the need to provide security education for OSS developers and stakeholders, (2) reinforce the safety of OSS repositories, and (3) enable cross-collaboration for incident response. What are we doing next? There is more to be done in improving tooling to address software supply chain attacks. We see significant importance in supporting the enhancement of OSS evaluation tools, like the Security Scorecard, an automated security tool to help open source users understand the risks of the dependencies in their software, and Software Bill of Material (SBOM) capabilities, an inventory that allow users to know what components make up an application. At JPMorgan Chase, our security teams are working towards such solutions and collaborating with organizations like OpenSSF to build better integrated tooling and capabilities that will ultimately promote safer practices and prevent future significant software supply chain security breaches. Doing our part JPMorgan Chase remains committed to our partnerships toward better open source security. As a founding member of OpenSSF and through our leadership in the Financial Services Sector Coordinating Council (FSSCC) and the Financial Services Information Sharing and Analysis Center (FS-ISAC), we will continue to take an active role in supporting and shaping industry and government’s efforts to secure the open source software ecosystem.

Tech Trends

U.S. Government Secures Major Nuclear Deal to Strengthen Clean Energy Future

2025-11-17 08:13:34

The U.S. General Services Administration (GSA), responsible for managing government buildings, has just announced a major nuclear energy deal. This follows a series of nuclear energy agreements made by prominent tech companies last year. The 10-year contract, valued at $840 million, involves 10 million megawatt-hours of electricity, which the GSA claims is enough to power over 1 million homes annually. The contract was awarded to Constellation, which operates the largest nuclear fleet in the U.S., and has recently entered into an agreement with Microsoft to restart a reactor at the infamous Three Mile Island site. According to Constellation spokesperson Paul Adams, nuclear energy comprises a significant portion of the contract, amounting to around 4 million megawatt-hours. As demand for electricity from AI data centers continues to rise, Silicon Valley is increasingly turning to nuclear energy to meet its needs. As the largest energy consumer in the U.S., the federal government’s contract is a significant boon to the nuclear industry. Joe Dominguez, Constellation’s President and CEO, commented in a press release, "Frustratingly, nuclear energy had been excluded from many corporate and government sustainable energy procurement programs. Not anymore. This agreement is another powerful example of how things have changed." He added, "The U.S. government, alongside Microsoft and other entities, is backing continued investment in reliable nuclear energy, enabling Constellation to relicense and extend the life of these critical assets." Constellation claims to generate 10% of the nation's carbon-free energy. Most of its output comes from nuclear power, but it also produces hydropower, wind, and solar energy. Additionally, the company operates gas-fired plants, though it has set a target to reach 100% carbon-free electricity by 2040, up from nearly 90% today. Neither Constellation nor the GSA responded to inquiries about the breakdown of the electricity sources other than nuclear in the contract. This is the largest energy procurement deal the GSA has ever signed. “This historic procurement locks in a cost-competitive, reliable supply of nuclear energy,” GSA Administrator Robin Carnahan said in a press release. “We’re showing how the federal government can collaborate with major corporate clean energy buyers to stimulate new nuclear energy capacity and ensure a steady, affordable supply of clean energy for all.” The contract will allow Constellation to extend licenses for existing nuclear plants and "invest in new equipment and technology," potentially adding 135 megawatts of additional capacity. Over the next 10 years, GSA has agreed to purchase 2.4 million megawatt-hours of electricity from this expanded capacity. The deal also extends to 13 other federal agencies, including the Departments of Veterans Affairs, Transportation, and the Federal Bureau of Prisons, as well as the National Park Service, Social Security Administration, and the U.S. Mint. The GSA frames this contract as a way to lock in lower prices amid rising electricity demand from data centers and increasing competition for clean energy sources: "With the uncertainty over future electricity prices and the growing demand from data centers and AI facilities, this contract provides federal agencies with budget stability and protection from future price hikes by fixing their electricity costs for 10 years, while also continuing to strengthen the domestic nuclear industry." Over the past year, companies like Google, Meta, Amazon, and Microsoft have all made notable nuclear energy deals. In September, Microsoft and Constellation announced plans to restart a shuttered reactor at Three Mile Island in Pennsylvania, the site of the worst nuclear accident in U.S. history. The Biden administration has also made nuclear energy a key component of its strategy to shift the U.S. away from fossil fuels and toward energy sources that don’t contribute to climate change. Last October, the Department of Energy announced a $1.52 billion loan to help restart a retired nuclear plant in Covert Township, Michigan. While President-elect Donald Trump plans to reverse progress made on clean energy, his campaign agenda included efforts to "support nuclear energy production."

Tech Trends

AI in 2025: What's Next for ChatGPT, Apple Intelligence, and More

2025-11-17 08:13:34

As 2025 unfolds, artificial intelligence is no longer a futuristic concept—it’s here, and it’s shaping our world in ways we could never have imagined just a few years ago. After a transformative 2024, AI development continues at full speed, with companies like OpenAI, Meta, Google, and Apple pushing boundaries and introducing groundbreaking innovations. Here's a glimpse into what life with AI could look like in 2025. Smarter Devices, Smarter Life In 2025, AI won’t just be confined to smartphones. Apple’s AI technology will continue to power iPhones and Apple Watches, making Siri more proactive and responsive. Google Gemini is set to deepen its integration into Android and Chrome, providing seamless, intelligent experiences, especially with Google Pixel phones. Home appliances will also see a major upgrade. Companies like LG and Samsung are betting big on AI-powered refrigerators, ovens, and washing machines. Picture a fridge that can scan its contents, suggest recipes, and even add missing ingredients to your shopping list. AI will also extend to wearables, especially those that sit on your face. Meta’s next-gen Ray-Ban smart glasses and the Orion augmented reality headset will offer you immersive experiences, overlaying real-time information right in front of your eyes, essentially becoming an extra layer of your brain. The AI Assistant Revolution By 2025, AI assistants will no longer be limited to answering questions. They will anticipate your needs and proactively manage your daily tasks. Imagine ChatGPT reorganizing your schedule based on real-time traffic and weather updates, rescheduling a missed doctor’s appointment without your prompt, or even drafting a birthday card for a friend—complete with personalized gift suggestions. Google Gemini is working on similar predictive features within Google Workspace, while Amazon is enhancing Alexa with task prioritization and advanced calendar integration. The rise of such assistants will spell the end of juggling between apps and to-do lists. Instead, your smart devices will serve as hubs from which AI seamlessly manages both your personal and professional life. Think of it as having an omnipresent executive assistant who never needs a lunch break or overtime pay. Multimodal AI: Breaking the Boundaries of Sight, Sound, and Action In 2025, AI’s reach won’t be limited to text or voice recognition. The integration of image, video, and audio with text-based AI will be ubiquitous. While multimodal AI had a breakout year, in 2025 we will see it reach full integration. Imagine snapping a photo of a broken appliance and having your AI assistant not only suggest repair steps but also find the replacement part on Amazon and connect you to a local repair service. Apple’s Vision Pro headset, expected to refine its design later in 2025, will leverage multimodal AI, overlaying real-time data onto objects in your physical environment. For example, it could guide you through assembling furniture, identifying each part and offering step-by-step AR instructions. In creative industries, Adobe’s AI-powered Creative Cloud tools will make workflows more efficient, automatically generating mood boards or editing videos from simple text prompts. Microsoft will integrate multimodal AI into its Teams and Office applications, offering features like summarizing video calls and turning meeting notes into PowerPoint slides, complete with relevant visuals. AI in Social Media: New Faces, New Realities 2025 will be a turning point for AI’s role in social media, particularly within Meta’s Facebook and Instagram. AI-generated characters will take center stage, becoming influencers, fashion advisors, and even travel guides. These bots will assist users in planning vacations, suggesting restaurants, and syncing with Google Calendar to manage bookings. Meta’s "Metabots" project will likely integrate into Messenger, allowing users to interact with virtual stylists who curate outfits based on preferences and budget. These bots might also handle customer service issues, resolving order queries or account troubleshooting instantly, without the dreaded "please hold" music. However, as AI-generated content becomes more prevalent, platforms will face the challenge of distinguishing between real and synthetic accounts. While Meta has promised safeguards, balancing enhanced user experiences with maintaining trust will be a delicate task.

Tech Trends

Strengthening Community Cyber Defenses through Education

2025-11-17 08:13:34

As part of our commitment to Cybersecurity Awareness Week at JPMorganChase, we organized a variety of interactive community events aimed at educating both young people and older adults on the essential aspects of cybersecurity, ensuring their digital safety. Read on to discover the significance of these initiatives in bolstering the cyber resilience of the communities we support. Fueling Cyber Enthusiasm at Global Impact Academy By Candice Biamby and London Murray, Product Security Marking Cybersecurity Awareness Week, the cybersecurity team from Atlanta Tech Center collaborated with the External Community Engagement initiative to stimulate interest in cybersecurity among students at Global Impact Academy (GIA) STEM Magnet High School in Fairburn, GA. With 588 talented students from grades 9-12, GIA offers a range of career paths in advanced mathematics, science, engineering, biotechnology, cybersecurity, game design, computer science, and beyond. This half-day event included presentations from JPMorganChase’s Cybersecurity and Technology Controls staff, who shared their personal experiences and the diverse career opportunities available in the cybersecurity sector. Students engaged in interactive breakout sessions that covered various aspects of cybersecurity, such as security engineering, governance, risk management, and compliance, and cyber operations. The event was a fantastic opportunity to engage with future STEM leaders. The students at GIA asked thought-provoking questions and demonstrated impressive knowledge. Our team relished the dynamic discussions, particularly the lively exchange when students shared their experiences with AI, which led to a mix of curiosity, admissions, and laughter. The students' passion and curiosity are a promising sign for the future of cybersecurity, making a fitting conclusion to our Cybersecurity Awareness Week at JPMorganChase. Enhancing Digital Safety for Youth and Elders By Sesh Subramanyan and Venkat Melam, Cybersecurity and Technology Controls Cybersecurity Awareness Week was a nationwide initiative in India, featuring a range of community engagement events focused on cybersecurity. These events included quizzes, puzzles, and awareness sessions for children and seniors from employee families, with over 200 participants. The goal was to increase understanding of cybersecurity and encourage secure online behavior. The 'CyberKids' session, for children aged 12-16, covered essential topics such as secure browsing, recognizing online threats, and safeguarding personal data. Meanwhile, the 'CyberSeniors' session targeted older family members, offering practical advice on online security, scam identification, and protecting one's digital identity. These sessions provided critical knowledge about online risks, including cyberbullying and phishing, helping families to establish a secure digital environment. Given the increasing cyber threats targeting the young and elderly, such awareness sessions are vital for safeguarding our loved ones. The foundation of cybersecurity lies within the home.

Tech Trends

TikTok Resumes Operations in the United States

2025-11-17 08:13:34

Less than 24 hours after the app temporarily went offline, TikTok has confirmed that it is resuming service in the United States, following reassurance from President-elect Donald Trump. TikTok stated that the incoming president provided clarity to the company's service providers, which are likely Apple, Google, and Oracle, ensuring they would not face penalties for continuing to support the app in the US. The company issued a statement, noting, "With the agreement of our service providers, we are in the process of restoring TikTok’s service. We are grateful to President Trump for offering the necessary assurance to these providers, guaranteeing they will not incur penalties for offering TikTok to over 170 million Americans, enabling more than 7 million small businesses to thrive. This move stands firmly in favor of the First Amendment and against arbitrary censorship. We look forward to collaborating with President Trump on a long-term solution to keep TikTok in the United States." This development is the latest in the ongoing saga of TikTok’s uncertain future in the U.S. Earlier, Congress passed legislation requiring ByteDance, TikTok’s Chinese parent company, to divest its U.S. operations or face a ban starting January 19. TikTok had filed a lawsuit based on First Amendment grounds, but the Supreme Court upheld the law. On the evening before the deadline, both Apple and Google removed the app from their respective app stores, alongside other ByteDance-developed apps. Oracle was reportedly instructed to shut down the servers hosting TikTok’s U.S. data, according to The Information. In a turn of events, President-elect Trump, who previously attempted to ban TikTok during his tenure, stepped in to intervene before his swearing-in. Trump announced on Truth Social that he would issue an executive order extending the deadline for enforcement of the law, allowing time for a potential national security deal. He assured that companies assisting in preventing TikTok's removal from app stores would not face liability. Under the law, Trump can only delay enforcement if ByteDance shows tangible progress on a divestiture deal. Elon Musk and billionaire Frank McCourt were named as potential buyers. McCourt made an official bid, while Musk's name surfaced in discussions with the Chinese government, according to Bloomberg. Trump expressed his desire for the United States to hold a 50% stake in any joint venture, stating that this would secure TikTok's future in trustworthy hands, making it worth hundreds of billions, if not trillions of dollars. As of the time of writing, TikTok, along with other ByteDance apps, is still unavailable in U.S. app stores. However, some users have reported regaining access to their TikTok accounts, though functionality varies. Following the Supreme Court ruling, the Biden administration appeared to back off from enforcing the ban, leaving the matter in Trump’s hands. This prompted TikTok to proactively take itself offline ahead of the January 19 deadline. TikTok CEO Shou Zi Chew directly appealed to Trump in a TikTok post, thanking him for his efforts to ensure TikTok's continued availability in the U.S. This gesture received mixed reactions. On Blind, an anonymous app, some users mocked the video, calling it "cringe." While the ban’s support in Washington has waned in recent months, with public opposition growing among U.S. adults, some lawmakers still express strong disapproval. Sen. Tom Cotton, for instance, warned that companies involved with TikTok could face severe legal consequences, including financial ruin under securities law and shareholder lawsuits. 4o mini

Tech Trends

Tesla Sees First-Ever Year-Over-Year Sales Decline

2025-11-17 08:13:34

Tesla’s production and delivery figures for 2024 have revealed a sobering reality for the electric vehicle leader. The company produced 1.77 million vehicles this year, marking a 4% decrease compared to 2023. In terms of deliveries, Tesla reached 1.79 million, about 1% fewer than the previous year. Additionally, Tesla deployed 31.4 GWh of energy storage, though this alone wasn’t enough to offset the overall sales downturn. Despite these setbacks, the company did experience a strong fourth quarter, setting new records for both deliveries and energy storage deployment. Tesla delivered 495,570 vehicles during the final quarter of the year, with 459,445 units produced, predominantly consisting of Model 3 and Model Y vehicles. Energy storage deployments also reached a record 11 GWh in Q4. However, this late surge in deliveries wasn’t enough to bring Tesla’s full-year figures up to 2023 levels. Tesla CEO Elon Musk had already signaled earlier in the year that intensified competition and reduced demand for its aging model lineup would weigh on 2024 results. Even the introduction of the Cybertruck, which began deliveries late last year, failed to reverse the trend. While the fourth-quarter performance was strong, it still fell short of Wall Street’s expectations, which had forecast 504,800 vehicles delivered. As a result, Tesla’s stock price took a hit, dropping by about 5% following the announcement of the disappointing numbers. Looking ahead, the future remains uncertain. A potential shift in U.S. policy following a possible second term for President Donald Trump could further impact Tesla’s prospects. If the new administration eliminates key incentives, such as the $7,500 EV tax credit, Tesla vehicles may become less affordable, which could dampen demand. Musk has teased the release of a more affordable Tesla in 2025 and a fully autonomous Cybercab by 2026, but both projects face significant hurdles. Furthermore, Tesla’s position in China is becoming increasingly precarious as the country’s domestic EV market grows at a rapid pace. The Chinese market, which is Tesla’s largest and most important, is seeing rising competition from local manufacturers like BYD, eroding Tesla’s market share.

Tech Trends

Dive into the vibrant world of AfroTech, a beacon of innovation and unity!

2025-11-17 08:13:34

Nate West, Senior Data Scientist, Asset & Wealth Management Technology My journey to AfroTech in November 2022 was a defining experience in my quest to connect with the Black tech ecosystem. The environment was charged with energy, a gathering of tech enthusiasts who, like myself, were ardently devoted to the field. This gathering was more than just a source of motivation; it was a deep validation of my engineering identity. For various reasons, AfroTech has a special place in my heart. It was at AfroTech that I first encountered my current mentors from JPMorgan Chase, who have since propelled our team to new heights. Since joining their team, I've been part of significant professional and personal advancements. A year later, I returned to AfroTech, this time as a JPMorgan Chase representative. The experience was transformative as I shifted from being a participant to a corporate envoy. The eagerness of global tech professionals to learn about our firm was striking. Interacting with students and early-career individuals, listening to their aspirations, was incredibly rewarding. Our firm had nearly 80 representatives and approximately 800 candidates actively pursuing opportunities with us. I had the privilege of attending workshops on Generative AI and its role in business processes, which were both enlightening and invigorating. The buzz around this technology was palpable, with my favorite session highlighting GenAI's influence on software development lifecycles. AfroTech is indeed a force for transformation, and I'm proud that JPMorgan Chase has been a sponsor for the past two years. The firm's commitment to diversity and investment in its workforce is a key factor in my drive and encouragement. Jeffery Rhymes, Vice President, Global Technology Diversity, Equity and Inclusion Lead My first AfroTech conference was unforgettable, with the weather perfectly setting the tone for the event. Upon arrival in Austin, Texas, on November 1st, I was greeted by a refreshing climate that set the stage for a cozy start. As Day 2 began, the warmth grew, and our JPMorgan Chase booth in the Expo Hall came alive with enthusiasm. We demonstrated our prowess by inviting technologists from across the firm to engage with and interview potential candidates. The event was a celebration of Black excellence, with entrepreneurs, technologists, and leaders shaping their destinies and fully enjoying the conference. The strategy was clear: start strong and keep the momentum going. By Day 3, the conference's stellar reputation was apparent. The AfroTech experience was in full swing, with a day filled with sessions and activities that offered ample opportunities for personal growth. Attendees were deeply engaged in empowering, thought-provoking, and culturally relevant experiences. The goal was to seize every opportunity available. Day 4, the grand finale of the conference, was about leaving with more knowledge and skills than you arrived with. Whether it was gaining insights to enhance your personal brand or participating in on-site interviews to advance your career, AfroTech was designed to make your experience unforgettable. The mission was clear: depart with an enhanced version of yourself."

Tech Trends

Harnessing Information to Amplify the Asian American Voice

2025-11-17 08:13:34

In an era where data forms the backbone of strategic planning, organizations like Kundiman, which are committed to fostering Asian American literature, often face the challenge of managing fragmented data. To address these issues, JPMorganChase's Force for Good initiative steps in—a program within the Tech for Social Good framework that demonstrates the power of corporate knowledge in aiding non-profit entities to surmount technological barriers and broaden their reach. Kundiman, founded in 2004, has been a haven for Asian American authors, providing them with retreats, virtual classes, and workshops. With over 250 writers having attended their retreats and approximately 400 books written by these individuals, Kundiman has made a substantial contribution to the literary world. However, as Kundiman's reach and activities have grown, so too has the intricacy of data gathering required for their operations. Traditionally, Kundiman utilized a donor management system for contact management and gathered data through various survey tools, resulting in inconsistencies, particularly in documenting ethnicities. The array of terms participants used to express their ancestry complicated the standardization and accurate analysis of demographic information. Kundiman's primary objective was to streamline these data streams, minimize manual data intervention, and enhance data precision. The Force for Good team, motivated by Kundiman's mission, tackled this challenge by introducing a pre-configured workflow automation solution to synchronize and automate data transfer across platforms. This strategy ensures that data from multiple sources can be automatically synchronized with a centralized database, eliminating manual input and reducing errors. The project's influence went beyond simple data aggregation. It enabled Kundiman to monitor demographic trends and pinpoint communities requiring assistance. As the pandemic and economic hardships altered the needs of Asian American communities, precise demographic monitoring became critical. A 2022 report by Equitable Growth indicated that Asian Americans in New York City experienced longer unemployment durations and higher poverty rates than other ethnic groups. Armed with this insight, Kundiman's capacity to adjust and extend support became increasingly vital. The project's triumph was a reflection of the collaborative ethos and commitment of all parties involved. The Force for Good team not only delivered a technological solution but also provided training and documentation, ensuring that Kundiman's staff could manage the new system independently. This holistic approach ensured lasting benefits and sustainability for Kundiman. The Force for Good program's partnership with Kundiman illustrates how strategic, considerate technological interventions can drive substantial social change. It highlights the significance of the Force for Good's ongoing support and innovation in the non-profit sector, ensuring that organizations like Kundiman can flourish and persist in their crucial endeavors.