The year 2023 was going to be Northern California’s time of reckoning, as it struggled to deal with the worst effects of the pandemic and the ensuing supply chain crisis. Ahead of the release of final year-end figures, however, the region appears to be on the road to full recovery.
According to the latest forecast, the state’s labor market is expected to grow by 2.2%, which translates to 398,000 jobs, 80% of which will come from the public sector and the hospitality and health care industries.
While some sectors remain more dynamic than others, for the Port of Stockton the pandemic caused a welcome disruption in the supply chain.
“We saw about a 30% increase in volume during that supply chain crisis. Many commodities that were typically in containers were taken out because costs were high. They were thus moved in break bulk, and we handled a large part of that business. We had a record year in 2022 when 4.9 million metric tons were processed through the port. Our volumes have since returned to pre-pandemic levels,” said Port of Stockton Director Kirk DeJesus.
Although the agricultural sector suffered the biggest blow, certain crops, like almonds and cherries, retained Japan as a major market, according to California Cherries.
As the industrial landscape continues to evolve, organizations like the Japanese Chamber of Commerce of Northern California emphasize the importance of staying closely connected with the Japanese community and its partners.
“The tendency is for Japanese companies to establish R&D (research and development) hubs. Legacy companies create venture capital arms that seek investment opportunities. These ties strengthen the partnership of Northern California and Japan. The ecosystem in Silicon Valley is still the biggest in the world. That’s why I believe that there are opportunities here,” said JCCNC Executive Director Keijiro Hora.
As a result, Japanese multinationals such as Mitsubishi Corp. and Furukawa Sangyo have established investment groups focused on start-ups in Silicon Valley.
With the continued thrust to integrate intelligent systems, educational partners are exploring innovation management and its corresponding impact on the relationships between innovation groups and larger companies. Among them is Stanford University’s US-Asia Technology Management Center.
“We look at the kind of impact that new technology businesses have on industry value chains. We interact directly with innovation groups and help them design the best strategic relationship with headquarters.There’s heightened interest, usually from large Japanese companies with U.S.-based innovation groups because of the exciting entrepreneurial ecosystem here in Silicon Valley,” explained US-ATMC Director Richard Dasher.
Nevertheless, independent startups like Omneky have proven that one can be indepently successful. For Founder and CEO Hikari Senju, it became a personal mission to integrate technology and art.
“From day one, the objective was to disrupt the creative services industry with generative AI,” Senju said.
In the clean energy sphere, Principle Power is a global technology and services provider for the floating wind market. Its trademarked WindFloat technology, deployed in 75-megawatt projects across Europe, has proven its resilience in challenging environments, while delivering energy to 55,000 homes annually.
“We’re expanding to Japan by partnering with local stakeholders like Tokyo Gas and leveraging programs like NEDO’s (New Energy and Industrial Technology Development Organization) Green Investment Fund to secure and accelerate the pathway for the deployment of commercial scale projects,” said Principle Power Vice President for Engineering Antoine Peiffer.
With the inevitable integration of such mechanisms, the increasing reliance on advanced technologies has yielded effective cost-cutting measures for many firms.
But the increasing impact of machine innovation has raised issues about the value of humans and the traditional labor force that once dominated. In light of this, institutions like Sofia University are helping business leaders and managers design human-centric artificial intelligence systems through its flagship program in transpersonal psychology.
“The humanistic aspects of an organization, like the culture of engagement and communication, are embodied in transpersonal education. Our leadership and coaching certification programs are good options for companies that are looking into promoting people to key organizational roles,” said Sofia University Director of Marketing and Communications Roland Reese.
