NetObjex Acquires VitalGrid

IRVINE, Calif., June 30, 2020 /PRNewswire/ — NetObjex today announced its acquisition of VitalGrid of Toronto, Canada, to expand its Digital Transformation product and service offerings.  Terms of the deal were undisclosed.

VitalGrid provides business technology and management consulting for improving performance, streamlining processes and reducing risk by delivering technology-enabled business innovation.  NetObjex, based in Irvine, California, is a Digital Twin Platform company with technology that leverages AI, Blockchain and IOT technologies.  NetObjex has operations in North America as well as offices in India, South East Asia and representatives and partners in Latin America and the Middle East. 

“We are very proud to announce our acquisition of VitalGrid.  Enterprises in the process of Digital Transformation often seek strategic consulting services prior to embarking on implementing complex solutions.  This is a critical element that we believe VitalGrid brings to the table, which will lead to successful implementations of our SaaS platform,” stated Raghu Bala, CEO of NetObjex. 

“It is our distinct pleasure to become part of the NetObjex global family.  Our legacy has been to help enterprise clients with vital decisions for substantial improvements to their business performance and risk exposure.  We believe our combined strengths will foster better insights and enhance trusted advisor relationships,” added Mushir Din, Founder of VitalGrid.

The joint entity will now expand capabilities in a multitude of vertical markets including Manufacturing, Supply Chain, Smart Cities, Fintech and more.   NetObjex will now be able to serve its enterprise clients with strong strategic insights and parlaying that into implementations in digital automation leveraging key technologies such as IoT, AI and Blockchain.

About NetObjex

NetObjex is an Operating Platform for Digital Assets utilizing Artificial intelligence, Blockchain & IoT with applications in Manufacturing, Supply Chain, Transportation and Smart Cities.  Its leading edge platforms leverage IoT for data acquisition and actuation, AI for unearthing insights in data, and Distributed Ledgers for data dissemination.

About VitalGrid

VitalGrid provides business technology and management consulting for improving performance, streamlining processes and reducing risk by delivering technology-enabled business innovation.  Our industry-proven investment justification portfolio and decision support platform helps our clients make better decisions by unifying people, process and technology with standardized methods and tools for digital transformation.

Contact: Georgey Jacob, 949.212.0136, 242522@email4pr.com

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SOURCE NetObjex, Inc

Artificial intelligence (AI) Market Size is Expected to Reach USD 169,411.8 Million in 2025 – Valuates Reports

BANGALORE, India, June 30, 2020 /PRNewswire/ — The global Artificial Intelligence (AI) market size is expected to reach USD 169,411.8 Million in 2025, from USD 4,065.0 Million in 2016, growing at a CAGR of 55.6% from 2018 to 2025. 

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Artificial intelligence enables computers and machines to mimic the perception, learning, problem-solving, and decision-making capabilities of the human mind.

AI is positioned at the core of the next-gen software technologies in the market. AI has several industrial applications where production plants can operate without human supervision. AI-enabled applications in the industries are expected to improve efficiency and aid saving of time.

The study provides Porter’s five forces analysis of the AI industry to understand the impact of various factors such as the bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the artificial intelligence market growth. This AI market report focuses on the growth prospects, restraints, and artificial intelligence market trends.

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TRENDS INFLUENCING THE AI MARKET SIZE

  • Growing e-commerce, streaming content, and growing internet penetration has led to growth in the marketing industries. Marketers are now searching for more innovative and state-of-the-art marketing solutions for a consumer base that is constantly growing. This has culminated in the adoption of marketing solutions powered by AI.
  • Organizations are trying to analyze consumer data from CRM systems, product reviews, and media commentaries in order to understand their consumers at a granular level, making their ads more focused and effective. With more data being generated across various industries, analyzing the data to get valuable information becomes crucial in making an organization operate successfully. AI helps analyze the data, gain valuable insights, and detect anomalies. These features of the AI are expected to fuel its adoption and, in turn, increase the AI market size during the forecast period.
  • In the retail industry, the application of AI will enable more sophisticated supply chains, a deeper understanding of consumer preferences, and the ability to customize products and purchase experiences both on- and off-line. Furthermore, AI technology will help retailers focus on trend creation and preference formation/brand building. This adoption of AI in the retail industry will increase the AI market size.
  • Increasing R&D investments by leading players will also play a crucial role in increasing the uptake of artificial intelligence technologies.
  • The increasing adoption of autonomous vehicles and EV’s are expected to increase the AI market size during the forecast period. In the automotive industry, AI has many applications, including Advanced Driver Assistance Systems ( ADAS). Neural networks are widely adopted in lane detection vehicles, which facilitate the replacement of expensive sensors.
  • The rising investments in AI technologies by various private organizations is expected to increase the market size during the forecast period. As AI technology is still in its early stage of the product life cycle, the workforce possessing in-depth knowledge of this technology is limited. Thus, the impact of this restraining factor will likely remain high during the initial years of the forecast period of the AI market.

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AI MARKET SHARE ANALYSIS

  • North America held the largest AI market share. One of the major factors that can be attributed to dominance is the emergence of several small-scale enterprises in this region. Furthermore, with its merger-and-acquisition activities and the presence of big companies like Google, Apple, IBM, Intel, and Salesforce, the North American region is further expected to extend its dominance during the forecast period.
  • The Asia Pacific market is expected to witness the highest growth rate during the forecast period. This growth can be attributed to the increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is also driving the market in this region.
  • The increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is also driving the market in this region.
  • In Europe, cloud-based AI deployment is expected to witness significant growth in the coming years due to increasing consumer demand for faster and on-demand access to data and easy document control.

TOP COMPANIES IN THE ARTIFICIAL INTELLIGENCE MARKET

  • The rising prominence of artificial intelligence is enabling new players to venture into the market by offering niche application-specific solutions. Furthermore, companies are engaging in industry consolidations in a bid to gain competitive advantages.
  • Companies such as Google, IBM, Microsoft, and other leading players have actively implemented AI as a crucial part of their technologies.

ARTIFICIAL INTELLIGENCE (AI) MARKET KEY SEGMENTS: 

By Technology

  • Machine learning
  • Natural language processing
  • Image processing
  • Speech recognition.

By Industry Vertical

  • Media & advertising
  • BFSI
  • IT & Telecom
  • Retail
  • Healthcare
  • Automotive & transportation
  • Others (agriculture, law, educational institutions).

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

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Key Players

  • Alphabet (Google Inc.)
  • Apple Inc.
  • Baidu
  • IBM Corporation
  • IPsoft
  • Microsoft Corporation
  • MicroStrategy, Inc.
  • NVIDIA
  • Qlik Technologies Inc
  • Verint Systems Inc (Next IT Corp)
  • Others

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SIMILAR REPORTS

  • Artificial Intelligence & Advanced Machine Learning Market Report

Increasing complex data sets, such as big data in the banking sector, is fueling business development. However, the potential of such tools to detect payment fraud propels market development further. Nonetheless, the industry is hindered by high initial investment and maintenance costs. 

It is anticipated that improvements in data processing speeds and the ability of these AI systems to detect non-standard behavioral trends during auditing financial transactions would make way for business growth.

Key players operating in this market are iCarbonX, Jibo. Inc, Next IT Corp., Prisma Labs, Inc., AIBrain, Quadratic Insights Pvt. Ltd., NVIDIA Corporation, Inbenta Technologies Inc., Numenta, and Intel Corporation.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-4D17/artificial-intelligence-and-advanced-machine-learning 

  • Natural Language Processing (NLP) Market Report

 In 2018, the global Natural Language Processing (NLP) market size was 486.4 Million USD and it is expected to reach 1.748 Billion USD by the end of 2025, with a CAGR of 20.1% during 2019-2025.

The NLP market’s key growth drivers include increasing the usage of smart apps, increasing the adoption of cloud-based technologies, and NLP-based applications to enhance customer support, as well as growing technical innovation in the healthcare sector.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-35C2296/covid-19-impact-on-global-natural

  • Artificial Intelligence and Machine Learning Market Report

This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors, and Porter’s Five Forces Analysis.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3M266/artificial-intelligence-and-machine-learning

  • Artificial Intelligence in Healthcare Market Report

The global AI in the healthcare market size was valued at USD 1,441 Million in 2016 and is estimated to reach USD 22,790 Million by 2023, registering a CAGR of 48.7% from 2017 to 2023.

Global AI growth in the healthcare industry is driven by AI’s potential to enhance patient outcomes, need to increase collaboration between healthcare workers & patients, increase the adoption of precision medicine, and a significant rise in investment in venture capital.

View Full Report:  https://reports.valuates.com/market-reports/ALLI-Auto-4F189/-artificial-intelligence-in-healthcare

  • Automotive Artificial Intelligence Market Report

The global automotive artificial intelligence market size is expected to reach at USD 8,887.6 Million by 2025, from USD 445.8 Million in 2017, growing at a CAGR of 45.0% from 2018 to 2025.

The growth of the automotive artificial intelligence market is driven by increasing demand for autonomous vehicles and increased preference for improved user interface and comfort features. The threat from hackers and the increase in cybercrime, however, is expected to curb market growth.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-2T250/-automotive-artificial-intelligence

  • Artificial Intelligence in Security Market Report

 View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-6F2228/global-artificial-intelligence-ai-in-security

  • COVID-19 Impact on AI in Education Market Report

This report provides a complete quantitative data and qualitative analysis on the global market for AI in Education. Market size is analyzed by country, product type, application, and competitors. Expanded coverage includes additional end-user industry breakdowns and in-depth producer profiles.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-2W2604/global-artificial-intelligence-ai-in-education

  • AI In Telecommunication Market Report

In 2019, the global AI In Telecommunication market size was US$ 773 million. The increasing adoption of AI for various applications in the telecommunication industry and the utilization of AI-enabled smartphones are expected to drive the growth of the AI in telecommunication market size.

View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-7L853/global-ai-in-telecommunication

  • Artificial Intelligence as a Service (AIaaS) Market Report

The global artificial intelligence as a service market size (AIaaS Market size) is expected to reach USD 77,047.7 Million in 2025, from USD 2,397.2 Million in 2017, growing at a CAGR of 56.7% from 2018 to 2025.

The rise in the adoption of cloud-based solutions and a surge in requirement for the artificial intelligence and cognitive computing market are the major factors that boost the growth of the AIaaS market.

 View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-1E293/artificial-intelligence-as-a-service

  • Artificial Intelligence in Manufacturing Market 

 The global artificial intelligence in the manufacturing market size was USD 513.6 Million in 2017 and is projected to reach USD 15,273.7 Million in 2025, growing at a CAGR of 55.2%.

Enhancement in automation in the manufacturing industry and the rise in demand for big data integration boost the growth of artificial intelligence in the manufacturing market. In addition, widespread usage of machine vision cameras in manufacturing applications, for machinery inspection, material movement, field service, and quality control drive the growth of artificial intelligence in manufacturing market size during the forecast period.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-4N278/-artificial-intelligence-in-manufacturing

  • Enterprise Artificial Intelligence (AI) Market

The global enterprise AI market size was valued at USD 4.68 billion in 2018 and is projected to reach USD 53.06 billion by 2026, registering a CAGR of 35.4% from 2019 to 2026. 

 View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-4Z18/enterprise-artificial-intelligence 

  • Artificial Intelligence in Medicine Market Report

The global artificial intelligence in the medicines market size was valued at USD 719 Million in 2017 and is estimated to reach USD 18,119 Million at a CAGR of 49.6% from 2018 to 2025.

The development of novel pharmaceuticals and biologicals through clinical trials can take more than a decade and cost billions of dollars during that tenure period. AI technology can help to make this process faster and cheaper, which in turn is expected to help improve the efficiency of pharmaceutical and biotechnology companies. The advantages offered by AI are expected to fuel its adoption and, in turn, increase the Artificial Intelligence in Medicine Market size. 

 View Full Report: https://reports.valuates.com/market-reports/ALLI-Auto-4H277/-artificial-intelligence-in-medicine

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that’s why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains detail research methodology employed to generate the report, Please also reach to our sales team to get the complete list of our data sources

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SOURCE Valuates Reports

BirdEye Manifests Market Leadership, Named Overall Leader in Online Reputation Management For 10th Consecutive Time In G2 Summer Report

PALO ALTO, Calif., June 30, 2020 /PRNewswire-PRWeb/ — In this hyper-competitive landscape, businesses must go the extra mile to connect with customers at all times, across all touch points. As many businesses struggle to keep up with this demand, BirdEye is setting the curve. For the 10th time in a row, BirdEye has been recognized by G2 as the highest rated company. BirdEye is the leading customer experience platform for local businesses of all sizes, winning the following recognitions: Leader Overall, Momentum Leader, Best Results, and Best Usability in the G2 Summer Report, in addition to over 100 other recognitions in 8 categories. BirdEye has also received the 2020 Artificial Intelligence Excellence Award by the Business Intelligence group and Most Innovative Tech Company of the Year in the 2020 American Business Awards.

“We are living in the age of the vastly empowered customer, and businesses need to adapt, provide a great experience, and find easy ways to communicate. Businesses who make customer-obsession an everyday competency and learn from the insights provided will be able to rise above the noise and be chosen by even more customers,” said Naveen Gupta, CEO of BirdEye. “BirdEye provides businesses with a suite of tools to lead in the digital transformation process and drive revenue through great customer experience while building a customer insights-driven organization.”

G2 releases Grid and Index Reports on a quarterly basis, ranking companies based on user reviews as well as data from online sources and social networks. Factors considered are customer satisfaction, recency of reviews, and number of reviews, among others.

BirdEye was named the overall leader in the categories of Online Reputation Management, Local SEO, Enterprise Feedback Management Category, Local Listing Management, Live Chat, Local Marketing, Mobile Marketing, SMS Marketing as well as a High Performer in Conversational Marketing. Other recognitions in the G2 Summer Report include Best Results, Easiest To Do Business With, Best Usability, Best Support, Easiest To Use, Fastest Implementation, Best Relationship, Best Meets Requirements, Users Most Likely To Recommend.

BirdEye was also named the Top Feedback Management Software, Top Customer Experience Software, Top Rated in Consumer Feedback, Quality Choice Award, and Top Customer Engagement software by Crozdesk and Top Rated by TrustRadius.

These recognitions from G2, the Business Intelligence Group, the American Business Awards, Crozdesk and Trust Radius show that BirdEye is the undisputed leader in helping businesses of all sizes understand their customers better than ever and utilize those insights to win new business on an ongoing basis. With 60,000+ businesses in 8 countries, BirdEye is continuing to lead in the customer experience and online reputation management space.

For more information, please visit birdeye.com/awards/

About BirdEye

BirdEye is a comprehensive customer experience platform. More than 50,000 businesses of all sizes use BirdEye every day to be found online through reviews, be chosen by customers with text messaging interactions, and be the best business with survey and insights tools. Founded in 2012, BirdEye is headquartered in Palo Alto, and led by alumni from Google, Amazon, Salesforce and Yahoo. BirdEye is backed by Salesforce founder Marc Benioff, Yahoo co-founder Jerry Yang, Trinity Ventures and World Innovation Lab.

Learn more at http://www.birdeye.com

 

SOURCE BirdEye

Avast Global PC Risk Report 2020 Shows a 27% Increase in the Risk of PC Users Encountering Cyber Threats

REDWOOD CITY, Calif., June 30, 2020 /PRNewswire/ — Avast (LSE:AVST), a global leader in digital security and privacy products, today revealed that the overall chance of home users encountering a cyberthreat has increased, worldwide. According to the Avast Global PC Risk Report 2020, home users have a 25.6% chance of encountering any type of PC malware, up from 20.1% the previous year.

Home users have a 6.7% chance of being targeted by an ‘advanced’ threat, a 20% increase compared to the year before, where the risk ratio was 5.6%. Avast defines advanced threats as new, not yet before seen threats, designed to bypass common protection technologies included in security software, such as signatures, heuristics, emulators, URL filtering, and email scanning.

In the United States, the likelihood of a home user coming across any type of threat increased 49% within a year, from 13.8% to a 20.5% chance of encountering a threat. Americans have a 5.0% probability of facing an advance threat, an increase of 34% from the previous year where the risk ratio was 3.7%.

“Our 2020 reports shows that the risk ratio has increased worldwide for all threats. The number of connected devices continues to increase dramatically and this report illustrates how computers remain vulnerable as they form an important  part of the attack chain,” said Luis Corrons, Security Evangelist at Avast. “Cybercriminals create threats that take advantage of the activities carried out by home users, and exploit their potential lack of cybersecurity awareness and cautiousness, making it vital for everyone to install a reliable security solution on all devices possible.”

The top 10 countries in which home users are most at risk of encountering any type of threat changed slightly from 2018 to 2019, with Venezuela, Algeria, Saint Lucia, Yemen, and Angola replacing Ethiopia, Egypt, Vietnam, Laos, and Myanmar.

Top 10 Countries Most at Risk:

 Home User, All Threats

Avast Global Risk Report 2019

Top 10 Countries Most at Risk:

Home User, All Threats

Avast Global Risk Report 2020

  1. Afghanistan (38.73%)
  2. Iran (37.49%)
  3. China (37.27%)
  4. Ethiopia (35.7%)
  5. Palestine (34.66%)
  6. Egypt (34.41%)
  7. Vietnam (33.37%)
  8. Madagascar (32.73%)
  9. Laos (32.44%)
  10. Myanmar (32.17%)
  1. China (43.67%) (up from #3)
  2. Afghanistan (43.30%) (down from #1)
  3. Venezuela (41.84%) (up from #11)
  4. Iran (40.17%) (down from #2)
  5. Algeria (39.41%) (up from #13)
  6. Palestine (39.33%) (down from #5)
  7. Madagascar (37.71%) (up from #8)
  8. Saint Lucia (37.39%) (up from #71)
  9. Yemen (37.35%) (up from #14)
  10. Angola (36.75%) (up from #12)

Methodology

The data included in this report is collected from Avast’s threat detection network, and represents the threats Avast protected its PC users from September 8, 2019 and October 7, 2019. In order to provide statistically relevant data, this report includes data from countries, territories and regions with a sample size of at least 10,000 computers belonging to home users that encountered threats during the month we collected the data. The data looks at total threats and advanced threats, evaluating the risk ratio for home users around the world.

To calculate the risk ratios for this report, the number of computers where Avast’s protection layers stopped at least one threat were divided by the total number of computers Avast actively protected within the 30-day period.

About Avast

Avast (LSE: AVST) is a global leader in digital and privacy security products. With over 400 million users online, Avast offers products under the Avast and AVG brands that protect people from threats on the internet and the evolving IoT threat landscape. The company’s threat detection network is among the most advanced in the world, using machine learning and artificial intelligence technologies to detect and stop threats in real time. Avast digital security products for Mobile, PC or Mac are top-ranked and certified by VB100, AV-Comparatives, AV-Test, SE Labs and others. Visit: www.avast.com.

Media contact:
pr@avast.com

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SOURCE Avast

DISH Selects Altiostar O-RAN Solution as Company Leads U.S. in Nationwide, Standalone 5G Network Buildout

TEWKSBURY, Mass., June 30, 2020 /PRNewswire/ — Altiostar has entered into a multi-year agreement with DISH to deliver its cloud-native O-RAN compliant solution for DISH’s nationwide 5G network buildout, the first of its kind in the U.S. The Altiostar solution will provide openness, modularity, agility and scalability to DISH, enabling faster deployment of new 5G services for consumers and businesses.

Altiostar, a US-based company, has developed a cloud-native microservice-based O-RAN solution that  enables the many use cases of 5G applications. This will allow DISH to dynamically scale its network depending on the type of applications and services being deployed. Leveraging artificial intelligence (AI) and machine learning, the O-RAN architecture brings end-to-end automation, zero-touch commissioning and faster network recovery. As the new nationwide mobile carrier in the U.S., DISH will benefit from a software-defined open platform to build a differentiated 5G network.

“By using an open architecture to build the first standalone 5G network in the U.S., we are able to work with the best vendors from across the supply chain to effectively serve multiple segments, including consumers, enterprises and emerging 5G vertical markets,” said Marc Rouanne, DISH Executive Vice President and Chief Network Officer. “Altiostar’s proven expertise in O-RAN will allow us to build an open mobile network with the automation, resilience and agility needed to deliver services that will differentiate us in the wireless market.”

As the leading Open vRAN solution provider, Altiostar will work with the OpenRAN ecosystem and industry partners to contribute to the success of DISH’s network deployment.

“Altiostar is excited to partner with DISH and execute on their vision to build the first cloud-native, O-RAN 5G network in the U.S.,” said Ashraf Dahod, CEO of Altiostar Networks. “As a U.S. company, we are proud to contribute our leading open vRAN technology innovation to DISH, and work with the fast growing O-RAN ecosystem to accelerate 5G leadership in the U.S.” 

Altiostar’s Open vRAN technology has already been deployed and proven at a large scale for Rakuten Mobile, the Japanese mobile operator that launched commercial service earlier this year.

About DISH:
DISH Network Corporation is a connectivity company. Since 1980, it has served as a disruptive force, driving innovation and value on behalf of consumers. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming Sling TV services. Through its strategic spectrum portfolio and other assets, DISH is poised to enter the wireless market as a facilities-based provider of wireless services with a nationwide consumer offering and development of the first standalone 5G broadband network in the U.S. DISH’s OnTech Smart Services brand offers in-home installation of connected home devices and entertainment solutions. DISH Media serves as the company’s advertising sales group delivering targeted advertising solutions. DISH Network Corporation (NASDAQ: DISH) is a Fortune 250 company.

About Altiostar:
Altiostar provides a 4G and 5G open virtualized RAN software solution that supports open interfaces and disaggregates the hardware from the software to build a multi-vendor web-scale network. This solution supports indoor and outdoor massive MIMO, as well as macro and small cells, enabling interference management, carrier aggregation and dual connectivity to improve the efficiency of the network. It also enhances the Quality of Experience for the end user, while providing broadband speeds. Operators can add intelligence, quickly adapt the software for different services and automate operations to rapidly scale the network and reduce Total Cost of Ownership (TCO). The Altiostar open vRAN solution has been deployed globally, including the world’s first cloud-native mobile network with Rakuten Mobile in Japan. www.altiostar.com

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SOURCE Altiostar

Chatspace Is Building the World’s Most Experienced Virtual Project Manager

GALWAY, Ireland, June 30, 2020 /PRNewswire/ — Chatspace, an enterprise AI startup has today announced it is building the world’s most experienced virtual Project Manager that will provide a solution to a market problem costing enterprises, in Europe alone, an overrun of €100 bn in IT projects.[1]

The Chatspace virtual Project Portfolio Manager will be launched in September this year and is an AI solution built to scale, securely in the cloud or on-premise, which ensures more successful outcomes of IT projects and frees up teams to focus more on customers, creativity and new opportunities. 

“With this new product, Chatspace does the heavy lifting,” says John Clancy, CEO and Founder. “It virtually accompanies your project managers to automate the mundane parts of the job, monitor group sentiment and keep your team engaged and connected. Additionally it proactively alerts senior management to problems before they happen ensuring successful project outcomes.”

Founded in 2017, Chatspace has successfully delivered AI projects to some of the world’s largest companies like Nestlé, Medtronic and Atos.

“Chatspace represents a new paradigm in Enterprise project management. To Atos, it has meant increased efficiency, and critically it is helping to shift the focus to what’s most important, our clients,” says Marcus Valente, Head of Operations, CEE at Atos May 2020.

About Chatspace

Chatspace is an artificial intelligence answers and insights platform. We work with the world’s largest companies unleashing new insights for company strategy that traditional teams can’t reach, automating repeatable tasks and scaling capabilities across the Enterprise. We believe that the future of work is an engaged and connected workforce empowered by the capabilities that technology provides. Clients include ATOS, Nestle and Medtronic. Follow @ChatspaceAI.

1. Project Management Institute

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SOURCE Chatspace

Introducing Solera’s Next Generation Of Qapter, An Intelligent End-To-End Artificial Intelligence Automotive Claims Platform

WESTLAKE, Texas, June 30, 2020 /PRNewswire/ — Solera Holdings, Inc. (“Solera” or the “company”), a global leader in risk and asset management data and software solutions for the insurance and automotive industries, today introduced the next generation of Qapter, the company’s innovative automotive claims workflow solution driven by artificial intelligence (AI).

Solera’s patent pending AI-based technology will provide the industry’s only globally available end-to-end solution for full digitalization of the modern claims workflow. Solera has made strategic investment into core machine-learning capabilities that will radically transform the claims workflow process.

The company’s AI has the capability to detect damaged parts, determine the type and severity of damage, define appropriate vehicle manufacturer repair operations and create an estimate based on these pre-defined repair operations. Automation tools improve the process of triage claims workflow, speed up reviews of damage photos, rapidly improve identification of total loss vehicles, and support identification of the next best action for repairable vehicles. These capabilities all save time, speed up the claims process and shorten the lifecycle of a claim for insurers, body repair centers, assessors and vehicle owners.

By blending the company’s proven repair science technology with over 300 million historical claims, one billion historical images (and growing), and 50 years of experience, Solera’s best-in-class data feeds enhanced machine learning algorithms to drive efficiency and increased accuracy. This integrated approach provides superior accuracy and performance compared to rudimentary standalone simple AI image recognition point solutions that have limited repair data and provide minimal benefit in digitizing the claims process.

As noted by Darko Dejanovic, CEO, Solera, “Implementing AI will drive huge efficiency gains, but above all, the extent of such gains are determined by accuracy. This accuracy depends on the quality, not just the quantity, of the data and images that are used to train the algorithms, as well as the supporting historical damage estimate. This historical data more thoroughly trains the algorithms, not simply on the repair itself, but also on the broader context of the damage.”

The industry has already begun to evolve to meet unexpected market conditions brought on by the COVID-19 pandemic with an enhanced focus on providing digital-first and touchless claims experiences for customers which support social distancing while protecting employee and customer health and safety. As an example, Solera’s image capture capabilities allow for initiation of a claim through a fully digital interaction where the customer provides images of vehicle condition and damage directly from their phone to the insurer or repairer, eliminating the need for face-to-face interaction.

“With leading claims platforms currently available throughout North America, Europe, Latin America and Asia Pacific, we are excited to provide even more value to our customers by making current platforms ‘smarter’ through the use of AI and supporting a seamless transition from existing solutions to the new platform. We’ll be working closely with our customers to deliver this functionality over the coming months and provide regular releases across markets,” continued Dejanovic.

For more information about Solera’s approach to AI in the claims workflow with the next generation of Qapter, visit https://www.qapter.com.

ABOUT SOLERA

Solera is a global leader in risk and asset management data and software solutions, empowering companies across the automotive and insurance ecosystem with trusted solutions to support connectivity across the vehicle value chain. Solera’s solutions bring together customers, insurers and suppliers, empowering smarter decision-making through service, software, enriched data, proprietary algorithms and machine learning that come together to deliver insight and are designed to ensure customers’ vehicles and property are optimally maintained and expertly repaired. Solera is active in over 90 countries across six continents, processing more than 300 million digital transactions annually for over 235,000 customers and partners. By drawing on the market-leading solution capabilities and business process best practices from its technologies around the world, Solera provides unsurpassed scale and strength with superior performance while delivering innovation to move the industry forward. For more information, visit www.solera.com.

 

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SOURCE Solera Holdings, Inc.

DrFirst’s Next-Generation SmartSig 2.0 Solution Improves the Quality of Medication History to Help Protect Patients from Adverse Drug Events

ROCKVILLE, Md., June 30, 2020 /PRNewswire/ — Healthcare technology pioneer DrFirst today announced the release of the next generation of its SmartSig technology, which uses patented artificial intelligence (AI) to improve the quality of patient medication history when it is imported into hospitals’ and health systems’ electronic health record (EHR) systems. Clinicians use the imported information for medication reconciliation, which is recommended every time a patient is admitted, transferred, or discharged from a healthcare facility. Accurate medication reconciliation is a National Patient Safety Goal of The Joint Commission.

SmartSig 2.0 accurately translates nearly 93% of incoming prescription information, called sigs, helping avoid medication errors and saving up to 30 seconds of work for each drug entered during the medication reconciliation process. This time savings can add up to several thousands of hours in a month, depending on the size of the hospital or health system. For a mid- to large-size hospital reconciling more than 2 million patient medications in a month, this could save more than 200,000 work hours per year.

In an initial study with six health systems, SmartSig 2.0 further enhanced the quality of structured and codified sigs over the previous version. Sig translations from free text increased by an average of 11% with the next-generation technology, compared to SmartSig 1.0, which already improved translation and inference by up to 82%. The early adopters include Covenant HealthCare (Saginaw, Mich.), King’s Daughters Medical Center (Brookhaven, Miss.), Lafayette General Health (Lafayette, La.), Maimonides Medical Center (Brooklyn, N.Y.), and St. Claire HealthCare (Morehead, Ky.).

“SmartSig 2.0 represents a dramatic leap forward in quality for medication history,” said Rebecca Sulfridge, Pharm.D., an emergency medicine clinical specialist with Covenant HealthCare in Saginaw, Mich., which has integrated DrFirst’s MedHx solution into its EHR. “We are spending less time reconciling medication histories manually, and in the first month of use, we recaptured an additional 15% productivity per shift, which represents approximately $650,000 per month, while also improving patient safety and outcomes. This is especially helpful during the COVID-19 pandemic when we are trying to minimize any additional patient risks and protect staff from unnecessary face-to-face exposure.” 

On discharge, an estimated 66% of data is missing essential prescription instructions, or sigs, increasing the risk of adverse drug events that compromise patient safety. In addition, the wide variability of sig terminology presents a more significant challenge than most people might imagine for translating and structuring the data, said G. Cameron Deemer, president of DrFirst. “Even a simple prescription instruction, such as ‘take one tablet by mouth once daily,’ can have hundreds of text variations,” he explained. These gaps in prescription histories complicate the medication reconciliation process, often requiring clinicians and staff to spend hours conferring with pharmacies and other providers to gather missing sig details and then manually enter them.

DrFirst’s SmartSig is incorporated into the company’s MedHx solution, which provides more complete, clean, and consumable patient medication history for the medication reconciliation process. When medications are imported into EHRs, sigs associated with them typically arrive as unstructured free text, often with missing pieces of information and using a variety of terms for the same instructions (e.g., “by mouth” vs. “orally”) which makes the process of entering the medications labor-intensive and increases the risk of adverse drug events (ADEs).

SmartSig AI addresses these challenges by producing accurate, structured, real-time translations. The technology converts free text elements of medication sigs into a health system’s standard terminology and processes the data into appropriate fields so that it becomes functional within the EHR. With better and actionable data, health systems’ EHRs can more accurately trigger critical safety checks, such as drug interactions and allergy alerts.

A recent study by the University of Michigan reveals that quality issues due to free-text sigs also negatively impact pharmacy workflow and endangers patients, requiring pharmacists to manually edit 84% of electronic prescriptions to create accurate patient labels, which can still introduce human errors. The study, published in May by BMJ Quality & Safety, concludes that “development of tools and techniques such as a comprehensive set of structured direction components or machine learning-based natural language processing techniques may help produce clear directions.”

The AI this landmark study calls for is “exactly what SmartSig delivers,” said Deemer. “SmartSig’s patented AI is a game-changing solution that nearly perfects the quality of converted free-text sigs and drastically reduces the amount of time staff must spend verifying and reconciling medication histories,” he added. “More importantly, SmartSig has the potential to reduce adverse drug events, which are blamed for more than 100,000 deaths per year.”

First implemented in 2015, SmartSig now serves health systems across the U.S. and Canada as part of DrFirst’s MedHx solution, processing millions of pieces of information daily. Early adopters of SmartSig 2.0 within MedHx have successfully integrated the solution with all the major EHRs in the U.S.

About SmartSig
SmartSig, with DrFirst’s patented AI is a key part of the company’s SmartSuite of solutions, which also includes SmartSearch, SmartStrings, SmartDrug, and SmartScan. SmartSuite’s AI allows health systems and pharmacies to dramatically improve their workflow by enhancing the usability of data, making it structured and codified. Driven by DrFirst’s patented artificial intelligence and machine learning technology, SmartSuite continually learns, getting smarter and smarter over time and further reducing clicks and keystrokes.

About DrFirst
Since 2000, DrFirst has pioneered healthcare technology solutions and consulting services that securely connect people at touchpoints of care to improve patient outcomes. We create unconventional solutions that solve care collaboration, medication management, price transparency, and adherence challenges faced in healthcare. We unite the Healthiverse by providing our clients with real-time access to the information they need, exactly when and how they need it – so patients get the best care possible. DrFirst solutions are used by nearly 300,000 healthcare professionals, including more than 100,000 prescribers and more than 1,400 hospitals in the U.S. and Canada. To learn more, visit DrFirst.com and follow @DrFirst.

DrFirst Media Contact
Sofia Kosmetatos, Amendola Communications
646-431-8423
skosmetatos@acmarketingpr.com

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SOURCE DrFirst

The Chatterjee Group, Rhône Capital Complete Joint Acquisition of Lummus Technology

HOUSTON, June 30, 2020 /PRNewswire/ — Lummus Technology today announced that Haldia Petrochemicals Limited, the flagship company of The Chatterjee Group (TCG), and investment funds affiliated with Rhône Capital have successfully completed the joint acquisition of Lummus from McDermott International. As previously announced, under the terms of the share and asset purchase agreement Chatterjee and Rhône committed to acquiring Lummus for a base purchase price of $2.725 billion from subsidiaries of McDermott as part of McDermott’s restructuring process.

“This new and notable chapter starts with Lummus being a standalone company, as we will be the only major process technology licensor that is independent and privately held,” said Leon de Bruyn, President and Chief Executive Officer of Lummus Technology. “For our customers, employees and partners, this is a significant milestone. We will be able to focus exclusively on providing world class technologies and solutions and developing long-term strategies that will allow Lummus to lead and shape the future of our industry.”

Lummus is a leading master licensor of proprietary gas processing, refining, petrochemical, and gasification technologies as well as a supplier of catalysts, equipment and related services. These technologies are critical in the refining of crude oil into gasoline, diesel, jet fuel and lubes; the manufacturing of petrochemicals and polymers; as well as the gasification of coal into syngas.

Dr. Purnendu Chatterjee, Founder Chairman of TCG, added: “Our investments are both strategic and long-term, where most span across 25-30 years. We have primarily focused on knowledge-based companies, and Lummus is a great addition to our portfolio. Leading with innovation, Lummus delivers sustainable value to clients in the area of materials technology. We also see a significant synergy with our existing portfolio companies in the area of digitalization. We, being a long-term client of Lummus, can understand from the customers’ perspective and will now move towards co-creative innovation”

M. Steven Langman, Co-Founder and Managing Director of Rhône, added, “Together with Chatterjee, we identified a unique opportunity to acquire an established, market leading business from McDermott. Rhône has deep experience partnering with management teams of multinational, industry leaders like Lummus and standing up and creating businesses positioned to grow and improve as independent companies. We look forward to working with the Lummus leadership team during its next phase as a standalone business as it initiates strategies to deliver its services and technology to a broader base of customers.”

Under the terms of the purchase agreement, McDermott and Lummus have entered into a strategic agreement to form a mutually beneficial arrangement in which Lummus and McDermott will cooperate to contribute their respective strengths to offer value to mutual customers.

About Lummus
With a heritage spanning more than 110 years and a focus on innovation that has resulted in approximately 130 technologies and 3,400 patents, Lummus Technology is the global leader in developing and implementing process technologies. We are a Master Licensor of petrochemical, refining, gasification and gas processing technologies, and a supplier of catalysts, proprietary equipment and related services to customers worldwide. To learn more about the new Lummus, visit www.LummusTechnology.com.  

About The Chatterjee Group
The Chatterjee Group (TCG), with the HQ in USA, has an enviable track record as a strategic investor, with businesses in many sectors. Founded by Dr. Purnendu Chatterjee in mid 80’s, the Group focusses on knowledge-based Industries and owns and controls companies as long term investments in several sectors including Petrochemicals, Pharmaceuticals, Biotech and Technology, serving global markets. Recently the group has launched a not for profit initiative, TCG CREST, designed to be the next generation research university which has intense collaboration with other research centers, both academic and in the industry. Focused on problems of high impact, the four centers currently operational are in NeuroScience, Quantum Computing, Solid State Battery (in sustainable energy) and Artificial Intelligence/Machine Learning.  www.thechatterjeegroup.com/  www.tcgcrest.org/ 

About Rhône
Rhône, established in 1996, is a global private equity firm with a focus on investments in businesses with pan-European, North American or transatlantic presence. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. The firm operates across its London, New York and Madrid offices, with a presence in Latin America. Rhône has invested in a diversified portfolio of companies including investments in the business services, consumer and industrial sectors.

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SOURCE Lummus Technology, LLC

PayPro Global Bridges eCommerce and CRM with New Advanced Salesforce Connector for Slimware Utilities

TORONTO, June 30, 2020 /PRNewswire-PRWeb/ — PayPro Global, the leading full-service eCommerce solutions provider, today announced the launch of its next-generation, highly-integrated Salesforce connector. Bridging eCommerce and CRM, the new tool is being implemented first by Slimware Utilities and creates a connected experience between online purchasing and customer relationship management.

With a real-time, single view of the customer within the Salesforce Platform, the Slimware Utilities sales team is now able to create connected experiences with customers across all touchpoints. Relationship management begins with data, so having sales order data populated instantly into Salesforce CRM empowers Slimware’s sales team to not only begin strengthening bonds with new customers, but to also maximize each opportunity as it arrives.

“A key component to our revenue model includes using our Salesforce CRM to better understand our clients and their purchasing history so that we can better serve them long term,” said Tae Kim, GM at Slimware Utilities. “PayPro Global ‘s highly-customized Salesforce connector enables us to embed real-time purchasing information from our website into Salesforce—and to in turn use that data to maximize our revenue, continue to develop and further scale our business.”

“Through our public APIs, PayPro Global’s new connector is able to integrate ecommerce and Salesforce CRM in a powerful and dynamic way by connecting online purchasing data with customer relationship management,” said Hugh Minson, Director, Platform Product Marketing, Salesforce. “Implementations like this leverage the full power of the Salesforce Platform, ensuring incredible companies, such as Slimware Utilities, are benefitting from a 360-degree view of their customer.”

“We are excited to debut our new Salesforce connector to our clients and couldn’t be happier to have Slimware Utilities as our launch partner for the new functionality,” commented Jason Foodman, PayPro Global CEO. “Understanding and creating an immediate relationship with your customers is more important today than ever before. By tightly connecting the PayPro Global purchase information with the Salesforce Platform, our clients can begin that relationship immediately, and with all of the necessary information at their fingertips.”

The new PayPro Global Salesforce Connector is available immediately to all PayPro Global Clients.

About Slimware Utilities:

Founded in 2010, Slimware Utilities, a leader in PC optimization solutions, has been revolutionizing how users and businesses around the world clean, update and optimize their computers. By bringing forward an award-winning innovative and personalized suite of applications, Slimware Utilities aims not only to make computer optimization a simple and intuitive process, but also to provide users with a significantly enhanced PC performance. Slimware Utilities is an IAC company (NASDAQ: IAC).To find out more about Slimware Utilities, please visit https://slimware.com/.

About Salesforce:

Salesforce is the global leader in Customer Relationship Management (CRM), bringing companies closer to their customers in the digital age. Founded in 1999, Salesforce enables companies of every size and industry to take advantage of powerful technologies—cloud, mobile, social, internet of things, artificial intelligence, voice and blockchain—to create a 360° view of their customers. For more information about Salesforce (NYSE: CRM), visit: http://www.salesforce.com.

Any unreleased services or features referenced in this or other press releases or public statements are not currently available and may not be delivered on time or at all. Customers who purchase Salesforce applications should make their purchase decisions based upon features that are currently available. Salesforce has headquarters in San Francisco, with offices in Europe and Asia, and trades on the New York Stock Exchange under the ticker symbol “CRM.” For more information please visit https://www.salesforce.com, or call 1-800-NO-SOFTWARE.

About PayPro Global:

Since 2006, PayPro Global has been actively and successfully providing software, SaaS and digital goods companies with premium eCommerce solutions to better facilitate their global market expansions. By means of highly efficient in-house tools, PayPro Global brings forward innovative capabilities which give customers the freedom to focus on the most essential aspects of their business—all while offering a significant competitive edge. To find out more about PayPro Global, please visit https://payproglobal.com/.

 

SOURCE PayPro Global