Month: August 2019

SHANGHAI, Aug. 30, 2019 /PRNewswire/ — China Ping An Property Insurance Co., Ltd. (Ping An Property Insurance) will present at the World AI Conference 2019 (WAIC2019) along with its latest innovations – FACE KYD (Know Your Driver) and DRVR (Driving Risk Video Recognition) – to showcase its latest AI breakthrough on August 29. Dedicated to pioneering the AI-empowered property insurance sector while offering perfect customer service, Ping An Property Insurance, as one of “Leading Biosphere Companies”, is aiming to unleash the potential of artificial intelligence with its acute insight into the emerging technology, leveraging AI application and big data systems to transform the insurance industry.

The FACEKYD extended the traditional driving risk ranking algorithm by leveraging state-of-the-art deep learning networks to extract facial driving risk factor. Different from the face recognition algorithm, the FACEKYD algorithm can not only differentiate the driving risk from different customers, but also keep the risk scores from the same customer stable by using the innovative rank algorithm “tetrad ranking”.

Another star product of the company currently under development is DRVR (Driving Risk Video Recognition). DRVR technology combines FACEKYD and DMS technology, through the identification and analysis of driving behavior, and combining the FACEKYD auxiliary driving risk prediction, to manage the risk in the whole process of driving and active warning, provide a variety of interim risk management solutions, rather than a single post-event compensation According to the Ping An Property Insurance technology center, the technology, with the bolster of database encompassing people, cars and roads, can identify hazardous driving behaviors including drowsy driving, smoking, looking at phones, dangerous lane-changing and speeding.

Gu Qingshan, Executive Vice President & Chief Technology Office of Ping An Property Insurance said “The improvement of computing capabilities and algorithms has enabled insurance companies to enjoy the versatility of AI and big data applications. With the implementation of artificial intelligence throughout the business chain and across products, markets, channels, pricing, underwriting and claiming process, Insurance companies can better understand their customers and risks,” said Gu. “On top of this, the application can further reconstruct the service procedures, create new products, and enhance customer experience, diversify risk management and make front-end risk management possible,” he added. 

The Ping An Car-Owner app developed for car insurance management, once again received a great deal of attention. As of the end of July 2019, the app has had over 71 million registered users, of which 46 million binding their personal vehicle information. The number of monthly active users in June exceeded 16 million, proving its NO.1 position in auto tool category in Chinese App store.

In addition to the “black technology” set to exhibit at the event, Ping An has also fully applied big data and AI technology in insurance claim process, risk control, marketing and service delivery, which has produced remarkable results. For example, in terms of claims, the company has launched another major upgrade on “Fast-track Compensation” and “510 Smart Fast Claim “, “Trust Compensation”, “One-Stop Video Intelligent Insurance Claim” and “IFD Intelligent Risk Control & Anti-Fraud”, among which “One-Stop Video Intelligent Insurance Claim” has just won the first prize of the Shenzhen Municipal Government Financial Innovation Award. In addition, there are intelligent applications, deep learning KYD research, fire-fighting IoT-Cloud platform, KYR risk management cloud and smart agricultural ecosystem platform.

Ping An Group has invested 100 billion RMB in technological R&D in the past ten years and will invest 200 billion RMB to build an integrated research system in the future.

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SOURCE China Ping An Insurance Overseas (Holdings) Limited

KUALA LUMPUR, Malaysia, Aug. 30, 2019 /PRNewswire/ — With the enormous growth of e-commerce and readily digitally available data online, accuracy in processing and protection of data are no doubt imperative. In line with this, Sunway University has invested RM3-million in to the CyberSecurity Intelligence (CSI) Labs for teaching, training and research in cybersecurity.

The CSI Labs consist of a data center with a dedicated research network and server infrastructure, as well as dual-display workstations and a training environment. The first lab to be established is the Security Operations Center Lab (SOC Lab) that runs industry-grade cybersecurity platform and services. Sunway University students at the Department of Computing and Information Systems, School of Science and Technology will have the opportunity to experience state-of-the-art intelligent security analytics that provides threat detection and response solutions offered by RSA Security from the USA. The technology shifts solutions from reactive to pro-active, predictive and prescriptive by utilising artificial intelligence to tackle cybersecurity threats. Artificial Intelligence will be essential to enhance cybersecurity technology in the future.

The Lab, currently the first SOC Lab powered by RSA Security Netwitness platform in a university in Malaysia as well as the region, is part of the Sunway University’s effort to provide real-world experience to students, particularly those enrolled in the BSc (Hons) Information Technology (Computer Networking and Security) programme. The University provides the learning experience where students get to witness real incidents and scenarios of cybersecurity threats. In this way, they can learn the best practices and utilise advanced platforms and tools to counter these threats. New modules will be designed and added to existing computing programmes at the University to ensure graduates are equipped with the right skill-sets as well as mind-sets towards a safer inter-connected environment.

“The CSI Labs will serve as a platform to connect academia with the industry. It aims to be a vendor and technology agnostic platform to encourage exchange and collaboration between all parties,” said Professor Graeme Wilkinson, Vice-Chancellor of Sunway University.

“The CSI Labs is the result of a collaboration between Sunway University, Hitachi-Sunway Information Systems Sdn Bhd and Sunway Group IT. It is also supported by PIKOM CyberSecurity Chapter and is powered by the RSA Security NetWitness Platform, which is used in large international corporations as well as governments.” added Professor Wilkinson.

The project to build these specialised Labs was initiated by Dato’ Chew Chee Kin, President of Sunway Group, and strongly supported by Dato’ Dr Lee Weng Keng, CEO of Education and Healthcare, Sunway Group and Dr Elizabeth Lee, CEO of Sunway Education Group.

“The CSI Labs aim to develop future talents who will be well-equipped with the latest cybersecurity knowledge. We are committed to close the talent-gap in the area of cybersecurity in Malaysia and the region. In the pipeline, the Labs look forward to organising events such as talk or short training programmes related to cybersecurity updates and awareness for the community in and beyond Sunway City,” said Associate Professor Dr Lau Sian Lun, Associate Dean and Head, Department of Computing and Information Systems.

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SOURCE Sunway University

HELSINKI, Aug. 30, 2019 /PRNewswire/ — F-Secure has joined Broadband Forum, the communications industry’s leading organization focused on accelerating broadband innovation, standards, and ecosystem development, to better serve communication service providers and secure its wireless home offerings better in the battle against ever-increasing cyber threats.

The world-leading Finnish cyber security company has made the move in order to help shape Connected Home standards of the future as the explosion of home-based connected devices brings both challenges and opportunities for consumers.  

“The challenge is how do we work together to mitigate against new vulnerabilities? The opportunity is to create new services for our customers that both protect their data, and their privacy,” says Paul Palmer, Director of Business Development at F-Secure Corporation. “It is the responsibility of all of us in our industry to keep our users safe. Strong collaboration is the key, and organizations like Broadband Forum have the power to bring together an ecosystem that finds the right solutions.”

Broadband Forum is at the forefront of driving standards around Connected Home and security through its initiatives such as the User Services Platform (USP). First published in April 2018, the User Services Platform – an evolution of the TR-069 standard that has been installed in over 1 billion homes globally – is Broadband Forum’s solution for service providers looking for a truly unified, common approach to securely deploy, manage, and control network-aware consumer electronics, including home and enterprise Wi-Fi, the internet of things, and more.

“Security has emerged as a top-of-mind issue for service providers as they grapple with an explosion of broadband-ready devices seeking to connect to their networks and a heightened sensitivity to data privacy,” says Robin Mersh, Chief Executive Officer of Broadband Forum. “As USP takes the baton from TR-069 and defines the user experience and management paradigm for the next 1 billion broadband installations, it is crucial that global leaders in security provide their expertise and guidance. F-Secure is a welcome addition to our membership that is shaping the future of broadband, and we look forward to its contributions and innovation as we address head-on the security challenges that stand in the way of achieving the promise of a world-class Connected Home experience.”

F-Secure currently partners with over 200 communication service providers around the world, making it the largest such ecosystem of security conscious operators in the world, and affording F-Secure a unique position to understand and experience the multitude of issues and challenges, and their remedies, for all types of operators in all corners of the world.

“The complexity of today’s cyber security threat, and our experience of over 20 years of focusing on communication service providers as our main channel to market, allows us not only to build proven holistic solutions, but also to share our experience and advice within bodies such as Broadband Forum so that security becomes a forethought rather than an afterthought,” says Steve Taylor, Vice President at F-Secure Corporation.

F-Secure media relations
Michael Sandelson
+358-40-548-0892

About F-Secure
Nobody has better visibility into real-life cyber attacks than F-Secure. We’re closing the gap between detection and response, utilizing the unmatched threat intelligence of hundreds of our industry’s best technical consultants, millions of devices running our award-winning software, and ceaseless innovations in artificial intelligence. Top banks, airlines, and enterprises trust our commitment to beating the world’s most potent threats. Together with our network of the top channel partners and over 200 service providers, we’re on a mission to make sure everyone has the enterprise-grade cyber security we all need. Founded in 1988, F-Secure is listed on the NASDAQ OMX Helsinki Ltd.

f-secure.com | twitter.com/fsecure | linkedin.com/f-secure 

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SOURCE F-Secure

WASHINGTON, Aug. 30, 2019 /PRNewswire/ — Inflectra Corporation, a leader in quality assurance, software testing, and lifecycle management announced the release the latest version of its software testing platform. The latest version employs big data, machine learning and artificial intelligence to improve software testing and assist customers in migrating away from legacy platforms that are no longer as appropriate in today’s agile testing environment.

Next Generation Testing Platform

With the release of SpiraTest 6.2 and Rapise 6.2, Inflectra is now able to offer the most complete and powerful QA platform that seamlessly works with the major DevOps and ITSM platforms and provides machine learning based test automation that reduces costs and improves efficiency when compared to legacy platforms such as ALM.

The new version of our Rapise test automation platform includes a completely new approach to locating objects on a web page that based on our AI/ML research and development that yields significantly better results in creating tests that work without alteration, even when the application being tested changes, or when the application is not optimally designed for automated testing, an unfortunate reality that often results in test automation initiatives failing.

Adam Sandman, Director at Inflectra said:

“Many new customers are looking for alternatives to their current toolset which tend to be either manual methods based on MS-Word and Excel or legacy QA tools such as Micro Focus ALM and UFT. We have had many recent customers switch to the Inflectra platform, benefiting from the ease of use, usability and performance of SpiraTest as well as our seamless migration tools that we provide.”

About Rapise

Whether it’s the web, mobile, desktop applications, APIs (REST and SOAP) Rapise helps you test it all. Rapise doesn’t just test, it understands, using its unique machine-learning based algorithms.

About SpiraTeam

SpiraTeam is a complete agile software development management system that manages your project’s requirements, releases, iterations, tasks and bugs/issues. Designed specifically to support agile methodologies such as Scrum, Extreme Programming (XP), DSDM and Agile Unified Process (AUP) it allows teams to manage all their information in one environment.

About Inflectra

Founded in 2006, Inflectra is a market leader in software test management, test automation and application lifecycle management space. The company is headquartered in the USA, but has offices in over 10 countries. Known globally for its legendary customer support, Inflectra makes turn-key solutions that address many challenges in software test management and QA, test automation and product lifecycle management. Its methodology agnostic software tools are used in many industries where portfolio management, requirements traceability, release planning, resource management, document workflow and enterprise risk analysis are required. The company uses a concurrent pricing model for all its tools with unlimited products, projects, sprints, tests, API calls, included in a single price. All Inflectra products have a 30-day free trial.

Media Contact:
Thea Maisuradze
202-558-6885
220814@email4pr.com 

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SOURCE Inflectra Corporation

NEW YORK, Aug. 30, 2019 /PRNewswire/ — Ideanomics Inc. (Nasdaq: IDEX) announces its strategic partnership with the China Tourism Automobile & Cruise Association (CTACA), under the Chinese Ministry of Culture and Tourism, with its newly created subsidiary Beijing Ningyuan Chuanshi New Energy Sales Co., Ltd.

“This agreement, an addition to our tour bus deal (Beijing Finova) announced in January of this year, outlines the support Ideanomics will be afforded by the China Tourism Automobile & Cruise Association (CTACA), the industry tour bus and boat operators association, under the Ministry of Culture and Tourism, especially as it pertains to new energy bus acquisition and financing,” said Alf Poor, CEO of Ideanomics. “China has an extensive number of licensed tour bus operators and under this agreement the Association gives their members’ a fast and effective way to service these members needs as they comply with China’s mandate to convert or replace the current diesel-powered buses by 2022. Our manufacturing and financing partners are prepared to assist with large-scale replacement of these tour buses; which are also referred to as coaches outside of the United States.” 

The China Tourism Automobile & Cruise Association (CTACA) is a government regulated association representing land and sea-based tourism transportation. Its members include tour bus operators, as well as tour boat and cruise ship operators. The association helps promote tourism within the People’s Republic of China (PRC) and helps oversee the safety of tourism and leisure transportation along with Government partners.

Under the terms of the deal, Ideanomics will contribute its EV bus manufacturer relationships and associated group and fleet buying capabilities, as well as lease financing and ABS services through its financial partners. The CTACA will contribute marketing and promotional resources to assist Ideanomics with sales to its association members who are mandated to convert or replace their bus equipment with clean energy vehicles as part of the Chinese Government’s proposed 2022 deadline, a total market valued in excess of RMB 800 Billion (US $118 Billion).

About Ideanomics
Ideanomics is a global Financial Technology (Fintech) company for transformative industries. Ideanomics combines deal origination and enablement with the application of technologies such as artificial intelligence, blockchain, and others as part of the next- generation of smart financial services. Our projects in New Energy Vehicle markets, Fintech, and advisory services provides our customers and partners better efficiencies, technologies, and access to global markets.

Ideanomics, through its investments and, along with its partners curate innovation around the globe through hubs and centers that foster a pipeline of technological excellence in cleantech, fintech, tradetech, agritech, regtech, insuretech, playtech, healthtech, cyber security, and more.

The company is headquartered in New York, NY, and has offices in Beijing, China. It also has a planned global center for Technology and Innovation in West Hartford, CT, named Fintech Village.

Safe Harbor Statement
This press release contains certain statements that may include “forward looking statements”. All statements other than statements of historical fact included herein are “forward-looking statements.” These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects” or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Investor Relations and Media Contact
Tony Sklar, VP of Communications at Ideanomics
55 Broadway, 19th Floor New York, New York 10006
Email: ir@ideanomics.com
www.ideanomics.com 
Tel: +1.212.206.1216

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SOURCE Ideanomics

GUANGZHOU, China, Aug. 30, 2019 /PRNewswire/ — Facing dreaded pest disease caused by fall armyworms, XAG is among the first to introduce fully autonomous drones in some of the most affected countries, such as Zambia, South Africa, Vietnam and China, to improve the control efficacy that has originally been limited to manual spraying. XAG has discovered that in the worst hit Africa and Asia, the absence of smart devices, the unique natural habits of fall armyworm and farmers’ lack of professional expertise have resulted in a rapid large-scale infestations.

Fall armyworms are a highly destructive pest species native to tropics and sub-tropics of the Americas, they have aggressively invaded more than 100 countries and devastated millions of hectares of crops since 2016. It is the ‘crop-devouring monster’ that attacks over 80 crop varieties but has high preference for maize. At its larval stage, it can cause great damage to the leaf, stem and cob of the maize plant and munch the entire cornfield almost overnight.

At the end of its lifespan, as a moth, this pest can fly up to 100km in one night and lay as many as 1,000 eggs during its lifetime. With strong migration and reproductive abilities, fall armyworms crossed the Atlantic for the first time and landed in Africa in early 2016, then quickly spread to most Asian countries in July 2018. As for Africa alone, the annual yield loss of the 12 maize-producing countries is estimated at USD 4.6 billion in 2018.

Fixing the ‘Crop-devouring Bug’ with Drone

Chemical control remains one of the most widely deployed methods to contain the spread of fall armyworms. However, most farmers usually resort to traditional sprayers and, in many cases, find the effect disappointing while exposing themselves to the hazard of pesticide poisoning. Manual spraying not only fails to meet the demand for a quick, emergent control over the ravenous, fast-moving fall armyworm, but also makes it difficult for pesticides to contact the hidden caterpillars because of uneven hand sprays.

Given the situation, XAG’s precision UAS spraying solution can suppress the encroachment of fall armyworm in time, through effective large-scale emergency action involving minimal physical labour. Drone swarm operation can besiege the infested croplands and kill the pests en mass within a large area to reduce moth migration. The drone can safely operate after sunset, working on the nocturnal pests.

A special atomisation spraying mechanism, features micron-level droplets and powerful downdraft, is designed to achieve uniform applications of ultralow-volume pesticides. Both sides of the leaves and the central part of crops, where the pests conceal themselves, can be more precisely targeted. This not only increases fall armyworm’s exposure to chemicals but also cuts down 30% pesticide use and 90% agricultural water.

XAG has released an insight article about how drone applications can help against the spread of fall armyworms. Link: https://www.xa.com/en/news/application/54

Going Global to Halt the Fall Armyworm Attack

In Zambia, Sunagri Investment Zambia Limited, a local crop-protection service provider, has utilised XAG’s P Series Plant Protection UAS for aerial spraying against fall armyworms during the last maize growing season. A series of field experiments and practical operations were conducted on three commercial farms, covering approximately 200 hectares of infested croplands where yield loss was avoided after chemical treatments.

Later in China, where fall armyworms have rapidly made their way to over 21 provinces and infested nearly 600,000 hectares of farmlands, XAG has consistently worked with an international agrochemical company, local distributors and the government to provide well-validated chemical control based on precision UAS spraying technology.

For instance, in Guangxi Province, XAG and Bayer Crop Science initiated their first-ever emergency control this April to help local smallholders ward off fall armyworm on maize and sugarcane fields. Results showed that drones, loaded with low-toxicity synthetic insecticide, effectively killed the pests and achieved a larval mortality as high as 98%.

This July, in Yunnan Province, XAG’s local distributor, Qiushi Aviation Technology Company, assembled a team of professional drone operators and participated in the government-led operation with seven P Series UASs. The team has successfully managed pest damage to its minimum on nearly 270 hectares of croplands.

Visit XAG’s website for more information of application case against fall armyworm. Link: https://www.xa.com/en/news/application/55

Founded in 2007, XAG is the world’s leading agriculture technology company and industrial UAS manufacturer who developed drones, internet-of-things (IoT), artificial intelligence (AI) and other digital farming tools for precision seeding, fertilising and spraying.

For more information contact:

Anne Xu
+86-20-3889-5709
media@xa.com

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SOURCE XAG

STERLING, Va., Aug. 30, 2019 /PRNewswire/ — T-Worx Holdings, LLC, a product innovation company, announced it will support the contractors chosen and announced by the Army today to develop weapons for the Next Generation Squad Weapons (NGSW) program.

T-Worx is currently the only approved vendor for the U.S. Army’s Picatinny Smart Rail, synonymous with the T-Worx Intelligent Rail® platform (I-Rail®). The platform is included as a threshold requirement for the Army’s NGSW Rifle and Automatic Rifle. As part of the Army’s down-select process announced today, T-Worx supported the Original Equipment Manufacturers that submitted proposals for the NGSW earlier this year. The manufacturers selected by the Army (General Dynamics-OTS Inc., AAI Corporation Textron Systems, and Sig Sauer Inc.) will produce these intelligent weapons for final evaluation and selection of one company to field the NGSW weapons in 2022.

A culmination of a 10-year relationship with the Army, the T-Worx I-Rail brings networked lethality with integrated power and data to the soldier weapon. The U.S. Department of Defense will begin funding the NGSW program with the FY20 budget in a 10-year procurement program expected to produce at least 250,000 soldier weapons that are intended to replace the existing M4 carbine and the M249 squad automatic weapon. The initial five year R&D budget supporting the NGSW and the NGSW-Fire Control exceeds $370MM, with an estimated $1.5B expected to field the 250,000 NGSW systems.

As a required enabling technology, T-Worx achieved a huge milestone for the Army’s modernization priorities while also reaching rare Phase III SBIR funding for its I-Rail that can increase soldier lethality, survivability, and operational effectiveness. A SBIR success story, T-Worx combined private investment with SBIR funding to further its intellectual property and enhance its data capabilities.

“The Army is facing a culture shift for quickly equipping our service members with modernized weaponry. The I-Rail helps the Army achieve a networked battlefield. T-Worx is engineering the most innovative products to meet the demands of an evolving battlespace. We are thrilled with the creation and progress of Army Futures Command working together with industry and the military to modernize our force more efficiently – a key factor in maintaining overmatch against potential adversaries,” said Don McLaughlin, President, T-Worx Holdings, LLC.

The Rail Operating System^TM
A solution for soldiers to lighten their load by carrying less batteries and connecting all devices mounted on their weapons, the T-Worx’s smart weapon technology is a critical component for future warfare. Its Rail Operating System (ROS™), a software product combined with the I-Rail platform, fits with weapons produced by multiple manufacturers and enables soldiers to connect their weapons with the battlefield network and command centers.

The core ROS platform is what companies are using to develop apps and accessories that connect various sensors and enablers to the I-Rail. The possibilities of data and power are significantly enhanced by the ROS that collects and streams data for commanders to process and use to make intelligent decisions and to execute simultaneous and sequential operations.

Artificial Intelligence and Why Smart Weapons Matter
T-Worx Advisor, Retired Gen. John Campbell, former Army Vice Chief of Staff, says, “The capability that this technology brings to the soldier on the ground is absolutely game changing. The Intelligent Rail will help overcome the erosion in close combat overmatch and capitalize on advancing technologies to increase performance at range. Integrating both squad fire control systems and this rail design will enable better situational awareness and increased lethality. We owe the very best equipment available to our men and women.” 

Dismounted soldier equipment such as the I-Rail gives soldiers and warfighters the advantage of fighting intelligently. “Regardless of weapon platform, the I-Rail is the staple that will give commanders real-time information to exploit and penetrate enemy weaknesses. Throughout the I-Rail development process we knew the military needed a technology that addressed threats, not only capabilities. This forward thinking technology supports the U.S. Army Multi-Domain Operations, 2028,” notes McLaughlin. 

T-Worx’s technology solution enables small arms to reach new thresholds by packaging multiple pieces of equipment into one integrated network that gives soldiers and commanders a more comprehensive picture of the battlefield. Beyond weapons, the integrated and real-time data leads to modernized, mission-ready soldiers and helps ensure that the U.S. remains the leading global force.

About T-Worx Holdings, LLC:
Located in Sterling, Virginia, T-Worx Holdings, LLC is a technology innovator that delivers solutions to critical challenges faced by the defense and law enforcement sectors. Its flagship offering is the Intelligent Rail®, a patented platform that powers, connects and communicates data securely from weapons and accessories to command centers on and off of the battlefield. T-Worx partnered with the Army SBIR program and secured private investments to develop this groundbreaking technology. The company has raised $20MM+ since 2010, and is in the final stage of a Series-C round. For more information, visit www.tworx.com.

Contact: 
Kellee Johnson, 312-751-3959 or kjohnson@ballastgroup.com

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SOURCE T-Worx Holdings, LLC

DUBLIN, Aug. 30, 2019 /PRNewswire/ — The “Assistive Robotics Market by Mobility, Type (Physically, Socially, Mixed Assistive), Application (Elderly Assistance, Companionship, Handicap Assistance, Surgery Assistance, Industrial, Defense, Public Relations), and Geography – Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The assistive robotics market was valued at USD 3.1 billion in 2018 and is expected to grow at a CAGR of 22.3% during 2019-2024 to reach USD 11.2 billion by 2024. In terms of volume, the market registered a shipment of 389 thousand units in 2018 and is expected to grow at a CAGR of 19.4% during the forecast period to reach 1,147 thousand units by 2024.

The increasing prevalence of strokes and spinal cord injuries leading to disabilities is one of the key factors driving the growth of the assistive robotics market. Also, the increasing insurance coverage for medical exoskeletons and surgeries is likely to act as a major driver for the growth of the assistive robotics market.

An assistive robot is a robotic device that performs a physical task for people with disabilities, the elderly, toddlers, and industrial workers. The aim of assistive robotics is to develop robotic aids for supporting people living independently and those who have degenerative limitations, such as elderly and people with disabilities.

Assistive robots have the capability to perceive their environment and individuals with the help of sensors and intelligent algorithms, to communicate with people multimodally, to navigate autonomously, and to make decisions independently. These assistive robotic systems are used in various applications such as elderly assistance, companionship, handicap assistance, surgery assistance, industrial, defense, public relations, and others.

The increase in funding worldwide for research on assistive robotics is expected to fuel the growth of the assistive robotics market during the forecast period. The necessity to abide by various standards and certifications needed for adoption, especially in the medical industry, hinders the growth of the assistive robotics market. In addition, the lack of social awareness about the benefits of adopting assistive robotics systems and the risk of proximity accidents are the major challenges for the players in the assistive robotics market.

An assistive robot is a robotic device that performs a physical task for people with disabilities, the elderly, toddlers, and industrial workers. The aim of assistive robotics is to develop robotic aids for supporting people living independently and those who have degenerative limitations, such as elderly and people with disabilities. Assistive robots have the capability to perceive their environment and individuals with the help of sensors and intelligent algorithms, to communicate with people multimodally, to navigate autonomously, and to make decisions independently. These assistive robotic systems are used in various applications such as elderly assistance, companionship, handicap assistance, surgery assistance, industrial, defense, public relations, and others.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Prevalence of Strokes and Spinal Cord Injuries
5.2.1.2 Rising Insurance Coverage for Medical Exoskeletons and Robotic Surgeries
5.2.2 Restraints
5.2.2.1 Necessity to Abide by Various Standards and Certifications, Especially in Medical Industry
5.2.3 Opportunities
5.2.3.1 Increase in Funding Worldwide for Research on Assistive Robotics
5.2.3.2 Rise in Geriatric Population Globally
5.2.4 Challenges
5.2.4.1 Lack of Social Awareness About Benefits of Adopting Assistive Robotic Systems
5.2.4.2 Risk of Injuries and Accidents Associated With Assistive Robots
5.3 Value Chain Analysis

6 Assistive Robotics Market, By Mobility
6.1 Introduction
6.2 Stationary
6.2.1 Stationary Assistive Robotic Systems are Mostly Used in Household and Medical Applications
6.3 Mobile
6.3.1 Mobile Assistive Robotic Systems are Majorly Used in Applications Such as Elderly Assistance and Companionship

7 Assistive Robotics Market, By Type
7.1 Introduction
7.2 Physically Assistive Robots
7.2.1 Increasing Cases of Spinal Cord Injuries and the Shifting Focus of Governments on Exoskeletons in the Defense Sector is Likely to Drive the Market for Exoskeleton Robots
7.3 Socially Assistive Robots
7.3.1 Rise in the Elderly Population is Expected to Act as A Key Driving Factor for Growth of Market for Companion Robots
7.3.2 Increasing Applications of Artificial Intelligence is Likely to Be Major Driving Factor Impelling Growth of Public Relation Robots
7.4 Mixed Assistive Robots
7.4.1 Elderly Care Robots are Used to Provide Comprehensive and Cost-Effective Support to Elderly
7.4.2 Surgical Robots Account for A Large Share of Assistive Robotics Market Due to Increasing Number of Laparoscopic Surgeries Globally
7.4.2.1 Laparoscopic Robotic Systems
7.4.2.2 Orthopedic Robotic Systems
7.4.2.3 Neurosurgical Robotic Systems

8 Assistive Robotics Market, By Application
8.1 Introduction
8.2 Surgery Assistance
8.2.1 People are Moving Toward Adoption of Robot-Assisted Surgeries Due to Various Advantages They Offer
8.3 Public Relation
8.3.1 Deployment of Assistive Robots for Public Relation Applications is on Rising and is Expected to Garner Significant Market Share in Coming Years
8.4 Handicap Assistance
8.4.1 With Technological Advancements and Evolution of Artificial Intelligence, Deployment of Assistive Robotic Systems in Healthcare Industry has Become Easy
8.5 Elderly Assistance
8.5.1 Demand for Assistive Robots for Elderly Care Application is Likely to Grow at Substantial Rate, Enhancing Opportunity of Mobility and Promoting Independence
8.6 Industrial
8.6.1 Due to Their Numerous Advantages, Various Manufacturing Companies have Started Adopting Assistive Technologies on Large Scale
8.7 Companionship
8.7.1 With People Across World Living Longer, and Most of Them Staying Alone, Assistive Robots Can Be Deployed as Companions to Help Senior Citizens Stay Mentally and Socially Engaged
8.8 Defense
8.8.1 Use of Exoskeletons has Helped Reduce Metabolic Cost and Helped Soldiers Carry Heavy Armors
8.9 Others

9 Geographic Analysis

Company Profiles

Key Players

• Kinova Robotics
• Focal Meditech
• Softbank Robotics
• Cyberdyne
• Intuitive Surgical
• EKSO Bionics
• Ubtech Robotics
• Barrett Technology
• Rewalk Robotics
• Hyundai

Other Players

• Stryker Corporation
• Hocoma
• Blue Frog Robotics
• Dreamface Technologies
• Double Robotics
• Fourier Intelligence
• CT Asia Robotics
• Intuition Robotics
• Mojin Robotics
• F&P Robotics

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SOURCE Research and Markets

BOSTON, LONDON and PARIS, Aug. 30, 2019 /PRNewswire/ — NelsonHall has just launched an industry-first evaluation of Intelligent Automation (IA) platforms, covering platforms from Antworks, Automation Anywhere, Blue Prism, Datamatics, IPsoft, Jacada, Kofax, Kryon, Redwood, Softomotive, and UiPath.

As RPA and artificial intelligence converge to address more sophisticated use cases, we at NelsonHall feel it is now time for an evaluation of IA platforms on an end-to-end basis and based on the use cases to which IA platforms will typically be applied.

Accordingly, NelsonHall has evaluated IA platforms against five use cases:

• Ability for Business Process Owners to Develop Automations
• Bot/Human Co-Working SSC Capability
• Ease of IA Adoption & Scaling
• End-to-End IA Capability
• Overall.

Ability for Business Process Owners to Develop Automations – as organizations move to a ‘bot for every worker’, platforms must support the business process owners in developing automations rather than select individuals as part of an automation CoE. Capabilities that support business process owners in developing an automation include a strong bot development canvas, a well-populated app/bot store, and process discovery functionality, all in support of speed of implementation.

Bot/Human Co-Working SSC Capability – in addition to traditional unassisted back-office automation and assisted individual automations, bots are increasingly required to provide end-to-end support for large-scale SSC and contact center automation. This increasingly requires bot/human rather than human/bot co-working, with the bot taking the lead in processing SSC transactions, queries and requests. The key capabilities here include conversational intelligence, ability to handle unidentified exceptions, and seamless integration of RPA and machine learning.

End-to-End IA Capability – the ability for a platform to support an automation spanning an end-to-end process, leveraging ML and artificial intelligence, either through native technologies or through partnerships. While many IA implementations remain highly RPA-centric, it is critical for organizations to begin to leverage a wider range of IA technologies if they are to address unstructured document processing and begin to incorporate self-learning in support of exception handling. Key capabilities here include computer vision/NLP, ability to handle unidentified exceptions, and seamless integration of RPA and machine learning in support of accurate document/data capture, reduced error rates, and improved transparency & auditability of operations.

Ease of IA Adoption & Scaling – the ability for organizations to roll out automations at scale. Key criteria here include the ability to leverage the cloud delivery of the IA platform and the strength of the bot orchestration/management platform.

Overall – a composite perspective of the strength of the IA platforms across capabilities, delivery options, and the benefits provided to clients.

No single platform is the most appropriate across all these use cases, and the pattern of capability varies considerably by use case. And this area is ill-understood, even by the vendors operating in this market, with companies that NelsonHall has identified as leaders unknown even to some of their peers. However, the NelsonHall Evaluation & Assessment Tool (NEAT) for IA platforms enables organizations to see the relative strengths and capabilities of platform vendors for all the use cases described above in a series of quadrant charts.

If you are a buy-side organization, you can view these charts, and even generate your own charts based on criteria that are important to you, FREE-OF-CHARGE at NelsonHall Intelligent Automation Platform evaluation.

The full project, including comprehensive profiles of each vendor and platform, is also available from NelsonHall by contacting either Guy Saunders or Simon Rodd.

About NelsonHall

NelsonHall is the leading global analyst firm dedicated to helping organizations understand the ‘art of the possible’ in next generation IT and business services. With analysts in the U.S., U.K., and Europe, NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. For service providers, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies.

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SOURCE NelsonHall