This month, we highlight IBM stocks as a shariah compliant investment. Or formally known as International Business Machines Corporation.
Founded in 1911, IBM is one of the few American companies that have outlasted the Great Depression, two World Wars and the ever-changing competitive environment.
Today, they are facing the challenges that the advancements in artificial intelligence (AI) and automation bring to the workforce. According to their research, as many as 120 million workers could be in need of new skills over the next three years. At the same time, new collar opportunities are growing, and many IT skills are in high demand – for instance, cybersecurity is forecasted to have 3.5 million unfilled jobs by 2021.
One of the ways IBM is impacting social change is by doing its part in bridging this growing gap in skills by promoting STEM (science, technology, engineering and mathematics) skills to kids, supporting new collar skills education and collaborating to create new paths into the technology workforce.
One such initiative is IBM’s P-TECH (Pathways in Technology Early College High School) school education model, designed to address both education and workforce development issues. As of 2019, the program has grown significantly from its founding in 2011, operating in 200 schools and 16 countries with more than 600 affiliated businesses.
The program provides relevant technical and professional education opportunities to young people from primarily disadvantaged backgrounds by combining high school and college coursework into a six-year program that equips graduates with job-ready skills, work experience, mentoring and a zero-cost associate degree.