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MARKETS LIVE BLOG:

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U.S. retail sales rose at slower-than-expected pace in May amid high interest rates, inflation

HP Study: Business and government leaders believe technology is key to expanding economic opportunity

HP Inc.
·5 min read
HP Inc.
HP Inc.

News Highlights

  • New global survey from HP shows three-quarters of business and government leaders (76%) believe technology is key to enabling traditionally excluded populations to participate in the economy.

  • Vast majority of business leaders currently use AI or plan to use AI soon for key sustainability and social impact goals.

  • Findings come as HP announces progress to expand technology access, skills-building and AI as a force for positive impact.

PALO ALTO, Calif., June 12, 2024 (GLOBE NEWSWIRE) -- HP Inc. (NYSE: HPQ) today unveiled a new study with Oxford Economics revealing enthusiasm among global leaders to use technology including AI to advance key impact goals.

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The study of business executives and government officials in 10 countries found 3 out of 4 leaders believe technology is key to expanding economic opportunity (76%) and that AI will help drive progress towards sustainability and social impact goals (76%).

Further, business leaders are either already using AI or plan to in the next 1-2 years for goals such as increasing access to digital education (90%), workforce development (89%), and workforce diversity (86%).

“AI’s reach holds great promise to help HP accelerate our sustainable and social impact goals,” said Ernest Nicolas, HP’s Chief Supply Chain Officer. “From how we responsibly build AI PCs for first-time users to data scientists who use our workstations to help local farmers build more resilient businesses, this is the technology that can move businesses and our communities forward.”

Accelerating digital equity for 150 million people by 2030

About one-third of the global population remains offline, costing the world billions of dollars in lost GDP each year. The digital divide has been growing since the advent of technology, and AI could exacerbate these disparities if intentional action isn’t taken.

“Everyone deserves an opportunity to access the tools needed to thrive in the digital economy,” said Michele Malejki, HP Global Head of Social Impact and Director, HP Foundation. “We know technology can be a great equalizer and a powerful tool to drive progress. Yet, to truly narrow the digital divide in our rapidly evolving world, we must also equip individuals with the skills to use technology.”

In its latest Sustainable Impact report released today, HP announced it has accelerated digital equity for more than 45 million people since 2021, bringing the organization nearly a third of the way to its goal of reaching 150 million people by 2030.

The rapid progress is a result of innovative partnerships with key organizations that create tailored solutions for communities. HP pursues impactful programs, strategic investments and partnerships that prioritize those mostly likely to experience the digital divide.

In 2023, HP:

  • Supported digital equity solutions developed by ten organizations in Malaysia, South Africa and Mexico with the Digital Equity Accelerator, such as improvements in digital literacy to access employment, access to educational hardware and software in schools and development of digital platforms to support improved health outcomes. In total, the Accelerator reached 6.4 million people in 2023.

  • Launched more than 100 Digital Hubs in partnership with World YMCA to support digital programming and literacy. For example, the West Orem Digital Hub, provided by YMCA Houston in Texas aims to increase community access to educational, economic, and social opportunities for young people, support services for families, and digital literacy courses for aging members of the community. More than 500,000 individuals were reached globally in 2023.

  • Opened two NABU HP Creative Labs in the U.S. and the Philippines, equipping artists and authors with technology to write and illustrate hundreds of books for children in local languages each year. The free books have helped 1.9 million children in 2023 build confidence, connection to culture and literacy skills, a key building block to participation in the digital economy.

Building skills amid the rise of AI

Both business and government officials report lack of skills as a top barrier to meeting key organizational goals, only economic volatility ranked higher.

Skills-building is a core piece of HP’s digital equity approach. As a result, HP is expanding its goal to enroll 2.75 million users in the free skills-building program HP LIFE. The program from the HP Foundation has already enrolled and enabled more than 1.2 million users to access economic opportunities or start businesses.

HP is undertaking new initiatives to expand responsible access and use of AI, the top reported investment area of businesses today:

  • Expand our free HP LIFE Digital Business Skills courses by releasing a new course on AI skills later this year.

  • Kick-off the HP AI in Social Impact Award, in collaboration with MIT Solve, which provides technology designed for building and running AI applications to social entrepreneurs and organizations that use AI to advance education, healthcare, and economic opportunities in communities globally.

  • Debut commercial and consumer Next-Gen AI PCs to market this month, a new category of devices crafted for work and creation.

HP aspires to be the most sustainable and just technology company. HP is committed to continually examining its progress and evaluating further actions to achieve a more equitable and sustainable future.

For more information on the study and HP’s Sustainable Impact Report, please visit the HP Newsroom.

About the Study

HP commissioned Oxford Economics to conduct independent research on this topic. The survey was conducted October to November 2023 in 10 countries: the U.S., France, India, U.K., Germany, Japan, China, Mexico, Brazil, and Canada. Oxford Economics surveyed 1,036 business leaders (C-suite and direct reports) and government officials in total, approximately 100 per country.

About HP

HP Inc. (NYSE: HPQ) is a global technology leader and creator of solutions that enable people to bring their ideas to life and connect to the things that matter most. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more. For more information, please visit: http://www.hp.com.

About Oxford Economics

Oxford Economics is the world’s foremost independent economic advisory firm. Covering over 200 countries, over 100 industrial sectors and 8,000 cities and regions, we provide insights and solutions that enable clients to make intelligent and responsible business decisions faster in an increasingly complex and uncertain world. For more information, visit https://www.oxfordeconomics.com/

MEDIA CONTACTS

HP Media Relations
MediaRelations@hp.com

hp.com/go/newsroom