Cisco Systems, Inc. - CSCO STOCK NEWS

Cisco Systems Inc. is supporting Simprints, a nonprofit developing biometric ID technology with a focus on privacy and ethical AI. Simprints' facial recognition solution aims to provide safe digital identities for the 850 million people globally lacking formal ID. With Cisco's Global Impact Grant, Simprints is advancing ethical, inclusive AI for face recognition and making it open source.

Key points:

• Simprints' biometric solutions are 12.5% more accurate and 3 times faster than paper records
• The technology is used in various countries for healthcare and humanitarian aid
• Simprints aims to reduce bias in face recognition models through diverse datasets
• The company plans to reach 20 million people with healthcare and humanitarian aid

Cisco has committed to supporting Historically Black Colleges and Universities (HBCUs) with a $150 million donation over 5 years for STEM education and technology modernization. The company is co-innovating with HBCUs in four key areas: supporting STEM students, building technological excellence, promoting success, and advancing information sharing. To date, Cisco has:

- Donated $66 million in services and software to HBCUs
- Completed 46 NIST assessments and 30 technology installations
- Preserved $1.5 billion in HBCU Title IV funding through NIST compliance
- Launched the Cisco Cyber Academy at Denmark Technical College

The partnership with Denmark Tech has led to the graduation of 59 students from a comprehensive cybersecurity training program, aiming to address the global shortage of cybersecurity experts and create opportunities for underserved communities.

Cisco Systems has been recognized for its significant strides in LGBTQ+ inclusion, earning an Ambassador-level rating of 78% in the 2023 Workplace Pride Impact Awards. This score marks Cisco's highest achievement in the ten years of participation and reflects a 26% year-over-year improvement, making it one of the most improved companies. Cisco also topped the Information & Communication Industry category. Key initiatives such as visible leadership support, the LGBTQ+ Social Justice Fund, introduction of pronouns in the Employee Central Directory, the Self-ID program, and Gender Affirmation policies contributed to this success. The recognition underscores Cisco's commitment to creating an inclusive environment for LGBTQ+ employees.

Cisco Systems is partnering with Community Corporate to reskill refugees through the Cisco Networking Academy. This initiative aims to assist refugees in Australia and other countries by providing them with digital skills and education to enhance their job prospects. The program focuses on long-term integration and economic inclusion, addressing the gap in recognizing overseas qualifications and improving workforce participation. CEO Carmen Garcia highlights that the initiative has a high success rate due to its model where employers only pay if they retain the talent. The program includes support such as English for IT courses and overcoming biases in recruitment, helping refugees find meaningful employment and achieve greater confidence and economic stability.

The initiative is part of Cisco’s broader commitment to using technology for social inclusion, demonstrated by projects like Cisco For Ukraine in Poland. Carmen Garcia, recognized for her service to the multicultural community, emphasizes the importance of dignity and purpose for refugees. The program has already enabled many participants to secure full-time jobs and improve their lives significantly.

Cisco Systems is partnering with the International Rescue Committee and Ocalenie Foundation to empower refugees, migrants, and internally displaced persons through technology.

On World Refugee Day, they highlighted two initiatives under this partnership: Signpost and SAFE. Signpost has been implemented in over 30 countries, reaching 16 million users, and providing critical information in 15 languages.

SAFE has supported over 2,000 refugees in the U.S. by offering financial coaching and loans, significantly improving participants' financial stability.

Ocalenie Foundation offers digital and skills training to help refugees in Poland, with 175 people having benefited so far.

Cisco Systems announces its employee development series, Cisco Illuminate, designed to enhance skills and foster continuous learning. Held throughout the year, the event features industry experts and thought leaders such as Oprah Winfrey, Andrew Ng, and Michelle Obama. Topics include AI, Cybersecurity, Well-being, and Leadership Development. The event offers a variety of learning formats, including keynote presentations, panel discussions, and interactive workshops. Employees can access sessions live or on-demand through platforms like Masterclass, LinkedIn Learning, and Coursera. The upcoming event on June 25-26 will feature James Clear, author of 'Atomic Habits,' discussing productivity and personal growth.

Cisco's 'Striving for Sustainability' series highlights employees integrating sustainability into their work. This edition features Pelin Salem, a Radio Regulatory Technical Leader who initiated a test optimization project to reduce testing time, improve energy efficiency, and lower greenhouse gas (GHG) emissions. Her journey in sustainability began in her youth and was reinforced by personal experiences with natural disasters. Professionally, Pelin's career spans electrical engineering, academia, and bioscience, culminating in her role at Cisco. Her project, the 'Test Optimization Dashboard,' launched in March 2021, aims to automate testing processes, reduce energy consumption, and track GHG emissions. With executive support, the project achieved a 75% enablement rate across Cisco. Pelin's efforts contribute to Cisco's goals, such as integrating Circular Design Principles into new products by 2025. She emphasizes that everyone can contribute to sustainability through small, daily actions.

Cisco is honoring Juneteenth by sponsoring the Juneteenth Atlanta Parade and Music Festival for the third consecutive year. Juneteenth, also known as Freedom Day, commemorates June 19, 1865, when the last enslaved African Americans were informed of their freedom.

According to Gloria Goins, Cisco's Chief Diversity, Equity, and Inclusion Officer, the day symbolizes freedom, resilience, and equality, which are values that transcend cultural boundaries. She reflects on her own family's history of overcoming adversity and emphasizes the importance of celebrating the strength and determination of those whose dreams were deferred.

Cisco is also committed to amplifying underrepresented voices by supporting Black-owned businesses, investing in Historically Black Colleges and Universities (HBCUs), and advocating for the career advancement of Black employees.

The company encourages everyone to be change agents in the fight for equality and justice, urging continuous learning and unlearning to recognize and dismantle biases.

Cisco's Chief Social Impact Officer, Brian Tippens, recently engaged in a discussion on the Tech Talks Daily Podcast, focusing on the company's social impact mission. Leveraging technology, teams, resources, and an extensive ecosystem, Cisco aims to power an inclusive future for all. Tippens highlighted the benefits of social impact initiatives, emphasizing how they create positive change and benefit businesses. The conversation underscores Cisco's commitment to empowering one billion lives through technology and social innovation.