Tag: 3BL

Comic Relief US, supported by FedEx since 2019, has partnered with the LEGO Group to launch a nationwide “Community Builders Challenge“. This collaboration is an extension of the LEGO Group’s Build the Change social impact initiative and Comic Relief US’ Red Nose Day in School program. It leverages their shared vision of empowering kids to have fun and use their creativity and imagination to promote empathy and kindness and inspire real-world change.

In classrooms across the country, students, ages 6 to 12, are invited to build their “dream communities” with LEGO® bricks and other creative art materials of their choice. Their builds can feature safe and accessible spaces where people can come together to work, play, and have fun, empowering each child to take an active part in imagining a brighter collective future. The only catch? Every build will include a spot for the iconic Red Nose at its heart—the universal symbol of positivity and inclusion for all.

To ensure all children have access to materials for the “Community Builders Challenge,” teachers at Title 1 schools can request Replay Kits (while supplies last). Replay Kits will be delivered to schools courtesy of FedEx.

The “Community Builders Challenge” is open to schools and afterschool programs across the country. Getting started is easy: just download the lesson guide and interactive activity sheet and then submit the students’ creations by April 15, 2024. Entries will be judged by Red Nose Day ambassadors and LEGO® enthusiasts, with the winners to be announced in May.

Check out the Community Builders Challenge at rednoseday.org/LEGO

Comic Relief US, supported by FedEx since 2019, has partnered with the LEGO Group to launch a nationwide “Community Builders Challenge“. This collaboration is an extension of the LEGO Group’s Build the Change social impact initiative and Comic Relief US’ Red Nose Day in School program. It leverages their shared vision of empowering kids to have fun and use their creativity and imagination to promote empathy and kindness and inspire real-world change.

In classrooms across the country, students, ages 6 to 12, are invited to build their “dream communities” with LEGO® bricks and other creative art materials of their choice. Their builds can feature safe and accessible spaces where people can come together to work, play, and have fun, empowering each child to take an active part in imagining a brighter collective future. The only catch? Every build will include a spot for the iconic Red Nose at its heart—the universal symbol of positivity and inclusion for all.

To ensure all children have access to materials for the “Community Builders Challenge,” teachers at Title 1 schools can request Replay Kits (while supplies last). Replay Kits will be delivered to schools courtesy of FedEx.

The “Community Builders Challenge” is open to schools and afterschool programs across the country. Getting started is easy: just download the lesson guide and interactive activity sheet and then submit the students’ creations by April 15, 2024. Entries will be judged by Red Nose Day ambassadors and LEGO® enthusiasts, with the winners to be announced in May.

Check out the Community Builders Challenge at rednoseday.org/LEGO

By sharing our perspective on the dynamics of the materials ecosystem – its connections, influencers and gaps, we aim to inspire, highlight the work of others and invite conversation.

Here’s a riddle: what does a global materials science company such as Dow have in common with farmers in Iowa, investors in Southeast Asia and waste pickers in for example Kenya or Brazil? We are all part of the diverse and complex materials ecosystem that is developing around plastic and renewable waste to deliver its total value.

Why is this happening? The world is demanding a better way to make, use and reuse plastics. Too much plastic enters our natural environment, and that’s unacceptable. It’s also unacceptable to view this valuable material as waste in the first place. The Ellen MacArthur Foundation estimates that by 2040, a circular economy has the potential to reduce the annual volume of plastics entering our oceans by 80%; reduce greenhouse gas emissions by 25%; generate savings of $200 billion per year; and create 700,000 net additional jobs. Recycling just 20% of all single-use plastic could generate more than $10 billion in economic activity.

The opportunity is huge, but so is the complexity needed to scale change – and that is where a systems approach comes in. As the world transforms to a circular economy, we are being challenged to not only think about waste as a resource but also to change business models, logistics, consumption behaviors, policy and infrastructure. Experts in systems thinking believe the first step to solving a complex challenge like waste is to understand the system in which it sits. Meaningful change only happens when we understand the web of interrelations and rethink assumptions.

That is why we are employing a systems lens to identify the gaps, connect the best partners and give it our best to scale how the world values, sources, transforms and monetizes plastic waste.

In this first of a series of Seek Together blog articles to highlight our new insights on the materials ecosystem, let’s take a look at how we’re defining that system and our role in it.

What is the materials ecosystems?

When I think of circularity for plastics, I often think of how connected gears work together to make something larger work. As you can see in the illustration below, the materials ecosystem includes everyday consumers like you and me – and stakeholders in waste management, recycling, design, manufacturing, retail, brand ownership and public policy. It is a web of interrelated technologies, processes and people that transform used plastic and renewables into useful materials.

It takes every stakeholder working together to make change happen. This includes brand owners and manufacturers designing products to be recyclable, effective recycling and waste infrastructure systems to recover end-of-life plastics, and investments across the value chain in new technologies that will transform recycled and renewable materials into products that create value. It also takes policymakers, investors and consumers to enable a systemic shift.

In addition, it takes an appreciation of the nuances of local waste systems. While plastic waste is a global problem, solutions are highly localized. An improved understanding of local ecosystem actors and existing waste management systems can help ensure initiatives and investments to scale-up plastics recycling achieve the greatest impact and are tailored to the unique needs and strengths of communities.

It’s a complex system, for sure. But by understanding the complexity, I believe we can strengthen the role we play and who we work with.

Putting systems thinking into action

What does applying a system lens look like in our work?

For us, it starts with first understanding local systems around plastic waste – and then collaborating with the best partners and technologies for the collection, reuse and recycling of waste to enable global material ecosystems to scale.

Together, we look at how things can connect better. We try to understand what influences consumer behaviors. We also consider how policy is a driving force in many ways – and we examine the gaps in the ecosystem and how we can address them.

Take our work with Delterra, for example, in Argentina – where recycling rates hover at 8%. We work with Delterra to promote a circular economy and increase recycling rates through the Rethinking Recycling Program. By involving government, local recycling cooperatives, waste generators, consumers and private companies the independent environmental nonprofit seeks to improve waste management systems.

This is one recent example of how the public’s good intentions and recycling capacity connect and how global organizations are improving recycling as a key part of materials-management efforts.

Learning by listening

Albert Einstein is often quoted as saying, “We cannot solve our problems with the same level of thinking that created them.” I am continually inspired by our collaborators, and the bold moves they are making with us to disrupt and create a new plastics economy.

Recently, I shared a stage at Fast Company’s Innovation Festival with two entrepreneurs who represented vastly different roles in the materials ecosystem: Thomas Corle, CEO of New Energy Blue, and Ashish Gadnis, CEO of BanQu. Corle founded a bio-conversion company that uses renewables such as corn leaves and stems, and Gadnis runs a blockchain supply chain and economic identity platform for disenfranchised workers.

Dow and New Energy Blue announced a long-term supply agreement in North America in which New Energy Blue will create bio-based ethylene from crop residues for plastics production. Recently, Dow and BanQu began work together in a pilot project called “2Life.” Using blockchain technology, the 2Life Project aims to advance the development of the value chain traceability of our REVOLOOP™ post-consumer recycled resin manufactured in Colombia.

These entrepreneurs share some important traits. They don’t see waste as waste. They focus on people – farmers and waste pickers. They are diversifying how we source materials for plastics – both by what materials we use and by valuing the diverse people connected to those materials. Importantly, they are innovators with a vision of how they can do their part to advance a future that is more circular and lower carbon.

These disruptors demonstrate that by working together across the materials ecosystem, we can indeed make the whole greater than the sum of the parts and turn complex challenges into opportunities for sustainability.

Check out our insights on the materials ecosystem

By sharing our perspective on the dynamics of the materials ecosystem – its connections, influencers and gaps, we aim to inspire, highlight the work of others and invite conversation.

I welcome you to check it out at Dow.com/materialsecosystem.

Haley Lowry, Director of Sustainability at Dow

Name: Juan José Ramos | EHS and Sustainability Manager

Company: Casa Sauza / Beam Suntory

Welcome to our series aimed at spotlighting BIER projects. As part of our Member and Stakeholder spotlight series featuring the individual leaders within BIER member companies and stakeholder organizations, our project spotlight series highlights BIER member companies and stakeholder organizations involved in the innovative Charco Bendito project.

Learn how these practitioners and their companies have collaborated to develop and implement this innovative, first-of-its-kind, basin-level watershed initiative addressing three main goals: water accessibility, quality, and availability. Gain insights into key learnings and what inspires each of them to advance environmental sustainability in the beverage sector and collectively, overall.

Briefly describe your role and responsibilities and how long you have worked with your company.

I am Juan José Ramos Hernández, EHS and Sustainability Manager at Tequila Sauza. I lead our operation’s environment, health and safety strategy to ensure the health and safety of our employees and the protection of the environment, in support of our company’s long-term sustainability commitments. I have been working at Tequila Sauza for 16 years.

I’m proud to represent Tequila Sauza as part of the Charco Bendito project and to be able to collaborate with the Knowledge Management Committee.

What were the initial drivers or incentives that committed you to the Charco Bendito project?

Water is a precious resource that we must use responsibly for the benefit of future generations. Beam Suntory is firmly committed to this cause and has set ambitious sustainability goals to help us achieve it. This includes replenishing more water in our high-risk watersheds than we use in our direct operations by 2040. This will ensure that our own operations, the communities where our distilleries are located, and local farmers and growers have access to high-quality water for the long term.

One of our primary focus areas is working on nature-based solutions that ensure the sustainability of water resources in our high-risk watersheds. We identified that our manufacturing site in Mexico is located in a high-risk watershed, meaning we must be mindful and work to solve for the long-term quantity and quality water needs of our Casa Sauza distillery, which boasts one of the lowest water consumption rates in the tequila industry.

To address this issue, Tequila Sauza is proud to be a part of this collaborative effort with BIER and other manufacturing companies to restore and protect the watershed of the Lerma-Santiago River Basin.

Learn more about Juan José Ramos in this BIER Member Spotlight.

Originally published on 3M News Center

As the world navigates environmental challenges, societal shifts, and rapidly evolving technologies, science continues to provide solutions. The 2024 3M State of Science Insights* survey reveals people view science as critical to both society and their daily lives. Commissioned by 3M and fielded by Morning Consult, the global survey shows that science is viewed as a fundamental part of how the world addresses urgent issues like climate change, shapes the future of work, and fosters growth in STEM careers and green jobs – all essential components of a prosperous future.

“It’s encouraging to see widespread recognition of the critical role of science in our lives,” said John Banovetz, executive vice president, chief technology officer and environmental responsibility, 3M. “Science is what enables 3M to innovate vital solutions that transform lives, help preserve our planet, make people safer and more productive, and build a brighter tomorrow.”

As 3M works to address global challenges, we know the opportunities and issues posed by climate change, the future of work, and emerging technologies cannot be tackled independently – they are interconnected. To drive global progress forward, the world must look at these macro-forces collectively and work together – as businesses, governments, educational institutions, and individuals.

Climate change is one of the biggest threats to humankind 
Climate change is an incredibly complex issue impacting the global population in a variety of ways – and most acknowledge it must be addressed with urgency. In fact, more than three-quarters of survey respondents think climate change is one of the biggest threats to humankind (81%) and as the impacts of climate change affect more communities, the issue also becomes more personal.

While nearly half of the global respondents claim they have already been impacted by climate change (43%), one-third (30%) believe their community will be impacted within the next ten years. Extreme weather events (52%), lack of clean water (34%), long-term shifts in temperature and weather patterns (32%), and climate change related to health issues (31%) are among the top concerns.

“3M is intensifying our commitment to finding innovative climate solutions,” said Gayle Schueller, senior vice president and chief sustainability officer, 3M. “We are focused on using cutting-edge materials science and technology to address this paramount issue, advancing decarbonization, energy efficiency, waste reduction, and sustainable infrastructure to protect our planet and its people.”

Globally, 85% of survey respondents believe companies need to be more committed to using sustainable materials, and 77% demand transparency from companies that claim sustainable commitments. 3M is proud of our diverse set of sustainability goals and reports on our progress each year in the Global Impact Report.

The future of work is defined by skilled trades, STEM and green jobs 
The global workforce continues to evolve as shifting demographics and climate change reshape the world around us. Despite change and uncertainty for many, respondents feel hopeful that skilled trades, STEM, and green jobs will lead the way and play a significant role in the future of work. In fact, respondents say skilled trades (83%) are their top recommended career choice for younger generations to pursue, with STEM (80%) and green jobs (78%) closely following, demonstrating global relevancy and importance of these vital careers across sectors.

“For the world’s transition to a low-carbon economy, STEM and skilled trade careers are vital. We must encourage people to pursue these fields and support them on their journey,” said Jayshree Seth, corporate scientist and chief science advocate, 3M. “As the challenges facing our world evolve, the next generation can help us adapt by applying their skills to create and implement innovative science-based sustainable solutions.”

While careers in STEM still offer the greatest opportunity to younger generations, green jobs are inching their way up. Not only do respondents see green jobs as a growing field (51%), but as climate change rattles communities, they believe the world needs more green workers (49%). Additionally, many see green jobs as an opportunity for innovation and problem solving.

Green jobs signal hope and opportunity 
As global anxieties around climate change increase, the growth of green jobs can offer relief—benefitting the planet, people, and economic growth. Defined as jobs that contribute to preserving or restoring the environment, green careers can be found in traditional sectors such as manufacturing and construction or expanding fields like renewable energy and energy efficiency.

Along with governments, businesses, and organizations, the public is increasingly recognizing the importance of the green economy. Globally, 75% of respondents believe green jobs are crucial to addressing climate change and 77% believe green jobs will have a positive impact on society.

On a personal level, many believe these jobs offer promising career opportunities, and most expect to see growth in the green jobs market over the next five years (75%). Survey findings show that with this global momentum and positive sentiment, there is an opportunity for businesses to seize the moment and drive green skills development:

Green jobs are for everyone. Most respondents (70%) believe people in all career stages should look for green jobs. This could indicate that green workers are more likely to share a purpose-driven mindset than age group or professional background.There is a universal feeling of excitement and respect for green jobs. About three-quarters (73%) believe green jobs provide exciting new opportunities, have a positive impact on society (77%), and command respect for those who perform them (77%).Interest in learning green skills is widespread. Two-thirds (65%) of people would like to learn skills that could help them land a green job, and 63% also believe they don’t need a career change to perform one.

The AI revolution and its impact on the world around us 
Artificial Intelligence (AI) is associated with both opportunities and challenges, including economic transformation, fears of social disruption, governance concerns, and impacts on education and jobs. Despite these conflicting perspectives, it is undeniable that AI is shaping the future.

According to survey respondents, 77% believe AI will change the world as we know it, yet 77% also believe due to its revolutionary potential, AI needs to be heavily regulated. It’s clear that attitudes toward AI are situational between life at home and work. Most people (61%) note an increased presence of AI in their lives, a clear understanding of where AI is being used in their everyday life (55%), and a strong conviction that AI is a tool for problem solving (68%).

Beyond AI, there is general fear that emerging technologies, robots, and automation will replace workers (66%). Possibly fueled by this concern, most people say they would be excited to work with these evolving innovations.

Building a brighter tomorrow 
As the world transitions toward a green economy and society driven by emerging technology, people’s relationship and engagement with science will continue to grow and evolve. By continuing to innovate solutions that mitigate the effects of climate change, spreading awareness of the impact and importance of green jobs, and responsibly integrating emerging technologies, 3M will help advance global progress and a brighter future for all.

*State of Science Insights Methodology 
The 3M State of Science Insights presents original, third-party research, conducted by Morning Consult. The survey was fielded from December 13, 2023 to January 10, 2024 and surveyed 10 countries across Asia Pacific, North America, South America, and Europe among 1,000 general population adults (18+) in each of the following countries: Brazil, Canada, China, France, Germany, Japan, Mexico, South Korea, U.K., and the U.S. At the 95% confidence level, the margin of error is +/- 1 percentage points at the global, 10-country level and +/- 3 percentage points for each individual country.

By Mel Campbell

Taking bold steps forward – like trying something new, following your dreams or beginning the journey to college – takes a lot. It takes knowledge. Grit. And sometimes, it takes help.

Perhaps, what it really takes is the confidence to take that bold step. And behind each step, often there was someone who helped you build that confidence. Someone who inspired you to find your own voice.

What better way to honor that confidence – and those who inspire it – than to help more young people? For more than 12 years, Regions also has been there to help some of the best and brightest students with scholarships through the Regions Riding Forward® Scholarship Contest.

The Riding Forward Scholarship Contest has given hundreds the chance to share their stories and inspire others along the way.

Paula Drake, head of Regions Marketing and Communications

And in 2024, we’re expanding the program – with more opportunities for students to enter.

The contest invites high school and college students to submit a video essay or traditional written essay on someone they know, someone in their community who has helped them find the confidence to reach higher. In addition, for 2024, the contest has been expanded to allow more opportunities – and more entries – for the competition:

Up to two video winners and two essay winners will be awarded each quarter (a total of 16 scholarships per year)Regions will promote the scholarship contest throughout the year and students are encouraged to submit at any time.Students should highlight individuals they know, who are part of their community and how they helped the student build the confidence they need to reach their goals.Scholarship winners will receive $8,000 each, to be used for education expenses within two years.

“The Riding Forward Scholarship Contest has given hundreds the chance to share their stories and inspire others along the way,” said Paula Drake, head of Regions Marketing and Communications. “Over the history of the program, Regions has awarded more than $1.4 million in scholarships. It’s an investment that makes life better for the students, their families, and the community.”

More information on Riding Forward is available at www.regions.com/ridingforward.

Full contest rules for entry requirements, restrictions and more.

See a full list of winners from 2023 and their winning submissions on Doing More Today.

If you know of a young person – in college or headed that way – please share this information with them and with the guidance counselor at their school.

The Regions Riding Forward Scholarship Contest has awarded over $1.4 million in educational assistance to more than 400 students over the past 12 years.

Originally published in the Maximus 2023 Sustainability Report

At Maximus, our dedication to nurturing a vibrant culture of continuous learning is pivotal. This commitment not only aligns with our strategic objectives and values but also cultivates an environment where every employee is empowered to reach their utmost potential. This approach is instrumental in driving organizational growth and enhancing our service delivery.

The Shared Learning Model: collaborative and strategic learning alignment 
Our Shared Learning Model (SLM) exemplifies a collaborative and cross-functional approach, bringing together business leaders and learning professionals to closely align development programs with Maximus’ strategic direction. This model fosters a deep-rooted learning culture, enabling employees to fully engage with their personal development journey. By ensuring alignment with our organizational goals, vision, and values, the SLM enables us to adapt and scale our learning initiatives effectively, empowering team members in their professional growth.

Strategically enabling talent through robust talent management 
Our belief is that our future success is linked to the empowerment of our talent, which accelerates our strategic objectives. To achieve this, we focus on attracting, retaining, and nurturing top talent through key talent management components:

Performance management 
We advocate for regular, open, and forward-looking discussions as a means to bolster performance and personal development. In FY23, we revitalized our Performance Management Philosophy, emphasizing ongoing, impactful dialogues that enhance employee experience and growth while focusing on future goals. The introduction of Continuous Performance Management (CPM) in January 2023 marked a significant step, engaging 3,000 employees in a more streamlined and effective approach. CPM’s framework aligns individual goals with team and organizational objectives, fostering a culture of timely feedback and continuous access to developmental resources.Succession and talent planning 
The digitization of our Global Succession and Talent Planning process in FY22 has yielded remarkable results, with a 500% increase in succession planning and talent assessment. This technological advancement simplifies the process, encourages a diverse selection of talent to be considered for future opportunities, and allows us to delve deeper into our talent pool. It ensures role continuity by identifying and recognizing the leadership bench for each identified critical role, reveals potential leaders, and motivates our employees to aim for higher positions while continuing their professional development. Our Learning and Organizational Development initiatives are designed to not only align with our broader organizational goals but also to ensure that employees have the opportunity and resources to grow, thrive, and contribute meaningfully to our collective success.

Elevating training operations for enhanced experience and control 
Elevating training operations for enhanced experience and control In FY23, Maximus took significant strides in improving end-user experiences and bolstering internal system controls. A key focus was on refining the governance of our Learning Management System (LMS). This effort included the establishment of regular LMS system administrator meetings, ensuring a streamlined and cohesive approach between the LMS and its affiliated software partners. The redesign of the internal LMS homepage marked a substantial enhancement, offering a more intuitive user interface that promotes a variety of learning opportunities available to the employee. In parallel, a comprehensive vendor relationship management audit centralized and sharpened our focus on compliance with both internal policies and external regulations.

Cultivating talent through dynamic development initiatives 
The past year saw Maximus leverage the Shared Learning Model network to launch and scale an array of programs. These initiatives were meticulously crafted to empower business leaders and functional experts, enhancing their personal and professional effectiveness. The Learning and Organizational Development team, in partnership with SLM, successfully rolled out 14 leadership and professional development programs, directly impacting a substantial number of employees through a blend of instructor-led training classes and webinars.

We also continued our investment in a global learning management system, providing 24/7 access to a diverse range of learning resources. These resources cover a broad spectrum, from digital transformation to customer service, and were extensively utilized by our employees for their professional development.

For emerging leaders, Maximus offers specialized experiences, including a comprehensive New Leader Onboarding program and the Essentials of Leadership Skills series. These programs are designed to ensure new leaders seamlessly integrate into the Maximus culture and acquire foundational management skills essential for their growth trajectory within the company.

Our approach to nurturing experienced leaders encompasses a variety of learning development opportunities, focusing on key areas like effective communication, trust-building, and project management methodologies. These targeted programs are tailored to align with their advanced professional objectives.

The Executive Development Program (EDP), a cornerstone initiative launched in September 2023, offers a personalized learning experience for our senior leaders. This program is an integral part of our leadership succession strategy, designed to equip Maximus’ future leaders with the skills required to navigate and excel in an evolving marketplace. The EDP combines in-person and virtual training elements with a suite of developmental tools like personalized learning plans and professional coaching, reinforcing our commitment to executive leadership development.

Expanding professional growth through tuition and certification support 
In FY23, Maximus announced a forward-thinking tuition reimbursement program, designed to bolster our employees’ professional growth and adaptability in a skill-focused workforce. This program invites employees with over a year of service to engage in higher education, non-degree courses, and professional certifications that resonate with their career aspirations. Unique to this initiative, educational pursuits are not limited to their current roles but extend to any area relevant to Maximus’ services. This approach aims to cultivate an internal skills pipeline, enhancing our service capabilities. The program, launched in October 2023, reflects our commitment to supporting our team members’ continuous learning and career development.

Learn more about Maximus’ dedication to excellence and innovation in the 2023 Sustainability Report. 

Originally published by Pepco

Our Pepco Edison Place Gallery is officially re-open to the public following a pandemic pause that began in March 2020. The gallery acts as a community space where customers and residents can gather to enjoy free local exhibits and special events.

To kick off our re-opening and to celebrate Black History Month, we have an inspiring exhibit featuring great masterpieces from distinguished African diaspora artists called “Nu-Woe Village”. The display features artwork from such artists as Lendeh Sherman, Flahn Manly, Cherif Mamadou, Sara Buchanan and Papa Momar Mbaye.

“You’ve got to come and check it out!” said Connie Conwreezor, co-curator of the exhibit. “I’m very excited to have a Lendeh Sherman piece with us. She has a piece that talks about Black history and the sit-in movement, and I think everyone needs to come and have a little feel and see what it’s about.”

Since opening in 2002, we have hosted hundreds of exhibits in the gallery featuring local and national artists, school students work and important community and cultural events. The space is also offered in kind to our nonprofit partners that help support the health and vitality of the communities we serve.

We believe arts and cultural organizations are integral to the health and vitality of the communities we serve and are proud to open this space back up to customers and residents here in the District. To learn more about the Gallery’s hours of operation and exhibit information please visit https://youtu.be/KQwWWtKzSzI

Originally published by Northwestern Mutual on February 1, 2024

Company: ModernTax

Founder and CEO: Matthew Parker

Year founded: 2021

We’re proud to be investing in ModernTax through the Northwestern Mutual Black Founder Accelerator® in collaboration with NM Future Ventures.

Matthew Parker first took the leap into entrepreneurship in 2015 when a close friend of his—who shared his dream of becoming an entrepreneur—proposed that they open a business together.

“Our first business was a storefront tax preparation office in a lower-middle-income community in in West Baltimore, Maryland,” Parker says. “We found that a lot of the companies that produce and provide financial and tax services avoid certain neighborhoods, which created an opportunity to build a financial business in a lower socioeconomic type environment.”

Though his first company didn’t succeed, he started up a new company with a similar model in Washington, D.C. While running the business, Matt became frustrated with the burden of all the necessary paperwork. He started searching for online solutions, which took him in a slightly different direction, to Silicon Valley’s history of technical innovation.

After seeking advice from Michael Seibel at Y Combinator (a well-known startup accelerator based in Silicon Valley), he decided to move to the area. In 2021, he founded ModernTax to help simplify the filing process for small financial companies by providing on-demand tax and financial information on their customers.

Below, Parker shares the lessons he’s learned, what inspires him on a daily basis, and why he believes the key to entrepreneurial success comes down to focusing on your business’ core concepts.

What is ModernTax?

Everyone knows that filing your taxes at the end of the year requires you to collect a bunch of documents to provide to your accountant. If you’re trying to get a loan or some other type of financial product, then you’ll probably need to collect just as much paperwork (if not more). Whether you’re trying to get insurance or a banking product from a financial institution, you’re going to need to provide a certain amount of information.

ModernTax serves as a replacement agent for collecting those documents. This typically starts with tax records, which provide a robust view of an individual’s or a business’s financial life. Our goal is to help those organizations to make those decisions, more quickly, more accurately and more transparently with their customers. So we serve companies across the insurance and financial industries as well as fintech by building a better way to facilitate this process and cut down on the time that the end-users have to spend filling out forms and providing documentation for services that they might need.

What inspired you to go from your first tax business to this iteration?

We started that first business as a single retail storefront and did everything from buying tax software and advertising to get customers to come in our store to managing our books, our compliance obligations, our data collection and our audits with the IRS. We had to get credentials with the IRS to become a tax business. So we really learned a lot about the ins-and-outs and all the different chambers of infrastructure that you need to run that business face-to-face.

So that made us realize just how much information and data is flowing across all these different systems at one time. But we really got the idea to build ModernTax during the pandemic in 2020 because 95 percent of our business became helping people figure out if they qualified for economic impact payments from the federal government in the form of PPP, EID or EIDL loans from the Small Business Administration (SBA). To apply for those funds, you needed good, sound tax information. For the customers we were working with, both directly and indirectly, that information was critical for them to be able to continue their operations or pay their bills.

What’s your proudest moment with this company so far?

The business has evolved but there’s always been a central pain point of collecting information online and digitizing the process. One of the main problems we addressed early on was the way that companies integrate and access information from different sources. So ModernTax really serves as a place for these organizations to have a much more streamlined, user-friendly way to request this information on behalf of their consumer. Opening up tax data access allows instantaneous permission to businesses for financial services, real-time transactions and taxable event estimate notifications to consumers and businesses.

But being selected to be a part of Northwestern Mutual’s Black Founder Accelerator® really helped us understand our business at a higher level. It opened my eyes to much bigger opportunities and a brighter future. I was still thinking kind of small, but now I can see how ModernTax can be a solution for large organizations.

What inspires you at work every day?

I am attracted to unsexy businesses; I really enjoy being involved in something that’s not super cool, but can have a big impact. Our work is very much a back-office experience. It’s not front-facing to the end-user, but the solutions we offer provide a lot of value to the buyer. We strive to create a more transparent ecosystem for small business owners and individuals, which I believe is a source of truth that can be used to compare apples to apples—instead of other sources like credit scores or alternative financial data assets that can bar people from the system. It’s become my mission.

What advice do you have for other Black founders?

Spend more time focused on the core things that are going to make you successful. Build a product that works and that people can use—and then validate their willingness to pay for that product. It sounds so simple, but if you spend more time on those two things, a lot of the noise you hear—”Black people can’t raise money or whatever”—will become less loud and you’ll really be able to see what you can do. You can’t ignore the barriers and the ceilings that might be set for you, but if you focus on those two things, you’ll make a lot more progress.

What are your goals for the company this year?

Our primary focus in 2024 is growing our business with our current customers and also being very detailed and focused on the types of customers we want to work with. Do they have a budget? Are they experienced in this problem at a high level? And will they be ambassadors of what we’re building? Because to build a great, long-lasting company, it’s not enough to get a customer who’s going to use your product very transactionally. You need to build a product that customers will be willing to use and also promote and share to adjacent customers or across their organization.

Within the next 18 months, we aim to cross $10 million in annual recurring revenue. We have built a strong foundation, identified the business problems, and defined the types of companies we can serve. Now, our focus is on execution and achieving our targets.

Our big goal is to become so tied into an organization that they not only think of us in terms of the problems we are solving but also as the partner that can help them build their businesses as they look to innovate. We are really just getting started.

Originally published on HARMAN Newsroom

For cybersecurity, artificial intelligence (AI) is both shield and sword. By implementing AI-driven tools, businesses are better protected against potential cyberthreats. By arming themselves with these same solutions, however, attackers are finding new ways to cut through defenses and compromise key systems. 
The result is a protective paradox: Even as AI cybersecurity risks grow, they represent the best defense against itself. Here’s what companies need to know about navigating the new reality of AI.

Slash and Learn: The Emerging Risks of AI

The past year has put AI in the spotlight as large language models (LLMs) and tools like ChatGPT and DALL-E have captured consumer attention. As noted by Thomas Schmitt, Global Director of security for Anheuser-Busch InBev and moderator of the recent CES tech conference panel, Our Newest Cyber Threat is AI and AI is Our Biggest Defense, “AI itself is not new, but LLMs and generative AI have sparked creativity.” This creativity, however, isn’t reserved for those with good intentions.

Just as AI makes it possible to write new stories or create new art, it also opens the door to new cyberattack vectors capable of circumventing current IT defenses.

According to Dr. Amit Elazari, Co-founder and CEO of OpenPolicy, “The biggest threat is not prompt injection or data poisoning. Instead, it’s going back to the foundation of defense and attack — the attackers are always ahead.” Attackers have the luxury of experimenting with new AI technologies to see what works and what doesn’t, while defenders are compelled to respond.

The evolving nature of new tools also creates AI cybersecurity risks. Put simply, these solutions can learn from their mistakes, meaning that when one attack fails, the next will incorporate data from that failure to improve the outcome. In practice, this can take the form of advanced social engineering. By utilizing available public data, knowledge of human behavior, and past defender actions, attackers can leverage AI to create advanced phishing and ransomware campaigns that are more likely to fool even experienced users.

Keep Humans in the Loop

According to Nicholas Parrotta, Chief Digital and Information Officer and President of Digital Transformation Solutions at HARMAN, “AI models are wrong a lot of the time. We need humans in the loop. For example, we just launched a large language model for health, and physicians are at the center of this model.”

In fact, without humans, risk increases. What we’re seeing now is the explosion of what AI means. It’s beyond an abstract computer solving problems, it’s a car driving itself or process automating itself. Ultimately, AI is a tool for humans. If we take humans out of the loop, we’re increasing the threat level.

Use the Right Tools

“From a HARMAN perspective, we’re seeing the rise of simple, smart, and secure experiences,” said Parrotta. This isn’t an either/or situation; users want all three components simultaneously. As a result, companies must deploy tools that meet these expectations. For example, HARMAN’s Digital Transformation Solutions can help businesses blend physical and digital resources to deliver dynamic results. HARMAN has also partnered with NVIDIA to develop AI-powered solutions for detecting and preventing cyberattacks.

Double Down on Defense

Companies need to double down on security by design and red-team exercises, which the National Institute of Standards and Technology defines as an exercise that can demonstrate real-world situations to better identify security capabilities. The technology is going to continue to evolve and businesses need to take part in the conversation.

Opposites Attract

AI has arrived. Generative tools have gone mainstream, and LLMs are making inroads into enterprise-scale business strategy.

But with benefits come drawbacks. Malicious actors are now using AI to compromise key operations and leveraging the learning capabilities of these solutions to stay ahead of security teams. The paradox? By reducing AI cybersecurity risks, enterprises can embrace intelligent technologies to spot potential problems, take immediate action, and give security professionals time to react.

Curious about the emerging role of AI security? Check out the full CES session here.

By Doug Bonderud