Press Releases

Queen’s Award in International Trade for Rapidly Growing Semantic Analytics Technology Company SciBite

CAMBRIDGE, England, April 23, 2019 /PRNewswire/ — SciBite today announced being named as a winner of the Queen’s Award for Enterprise in International Trade – the highest official UK awards for businesses. SciBite receives recognition for outstanding short-term growth in overseas sales over the last three years.

SciBite logo (PRNewsfoto/SciBite)

The international growth of SciBite has been led through global adoption of its disruptive semantic software across the top 20 largest pharmaceutical companies in the world. Overseas sales have grown substantially year on year rising from £316k to £2.3 million, a rise in total of 645%.

Established in 2013 and head quartered in the UK at the Genome Campus in Hinxton, Cambridgeshire, the company operates globally with offices in the USA and Japan. SciBite continues its rapid growth and plans to increase its employees by another 30% throughout the rest of 2019.

“Our technology enables clients to turn previously unusable but scientifically relevant text into high-quality, machine-readable data. We have established strong business relationships with the world’s leading life sciences businesses, and our approach provides significant additive value to many divisions in these businesses from discovery through to development,” said Rob Greenwood, CEO & President at SciBite.

With the rapid growth and understanding of the value of artificial intelligence and machine learning solutions, the critical first stage in any successful digital strategy is providing clean, well described data that a machine will understand.

“We couldn’t have won this award without all of SciBite’s dedicated employees and our fantastic customer base. Winning the Queen’s Award is one of SciBite’s proudest moments that we will never forget,” said Lee Harland, Founder & CSO at SciBite.

About the Queen’s Awards
This year 201 UK businesses have been recognised for their contribution to international trade, innovation, sustainable development and promoting opportunity (through social mobility). The awards were first established in 1965 and since then over 7000 companies have achieved a Queen’s Award. Find out more about next year’s award.

About SciBite
SciBite is an award-winning semantic software company offering an ontology-led approach to transforming unstructured content into machine-readable clean data. Supporting the top 20 pharma with use cases across life sciences, SciBite empowers customers with a suite of fast, flexible, deployable API technologies, making it a critical component in scientific data-led strategies. Find out more at www.scibite.com.

Press contact:
Lauren Barham, Marketing Manager
lauren@scibite.com
+44(0)1223-786-129

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SOURCE SciBite

TD and Microsoft Enter into a Strategic Relationship to Power the Future of Digital Customer Experiences

TORONTO and REDMOND, WA, April 23, 2019 /PRNewswire/ – TD Bank Group (TD) and Microsoft today announced a strategic relationship in which TD will use Microsoft Azure as the cloud foundation to provide its technology and design teams with tools designed for secure, agile and flexible access to data and AI resources. This will further enable the Bank to adapt and quickly respond to changing customer needs.

Bharat Masrani, Group President and Chief Executive Officer, TD and Satya Nadella, CEO of Microsoft today announce a strategic relationship to accelerate and fuel new and innovative banking experiences. (CNW Group/TD Bank Group)

"At TD we are shaping the future of banking in the digital age by creating personalized, connected and legendary experiences across all of our channels," says Bharat Masrani, Group President and Chief Executive Officer, TD. "Our strategic relationship with Microsoft will help accelerate and fuel new and innovative banking experiences for our customers, clients and colleagues." 

Engaging Microsoft to help support the Bank's digital transformation journey, TD deployed Office 365 to deliver improved mobile solutions and engagement for more than 85,000 employees. With today's announcement, the collaboration continues. Microsoft Azure is positioned to help accelerate new capabilities when it comes to the design and delivery of future customer banking experiences. 

"Every financial services company today has an incredible opportunity to apply advances in cloud and AI to redefine every aspect of their business – from the customer experience to risk management and trading," said Satya Nadella, CEO of Microsoft. "Our strategic relationship will enable TD to deliver on its vision to build the bank of the future with the power of Azure, our trusted cloud, to quickly adapt and respond to changing customer needs, and builds on our existing relationship that is focused on empowering TD employees to be more productive and collaborative with Office 365."

TD Securities, the wholesale division of TD Bank Group, is leveraging the Microsoft cloud to help transform their derivatives pricing and risk management experience. By moving the solution to Microsoft Azure, the business now has faster access to high-performance analytics, which allows the Bank to respond rapidly to client pricing requests.

By continuing to leverage Microsoft's cloud capabilities, security investments and technical engineering strength, TD will further accelerate its transformation journey to build the bank of the future, adding to its ongoing investments in leading digital, AI and analytics talent.

Building an Innovation Ecosystem

Today's announcement builds on an impressive track record of innovation over the past five years as TD shapes the future of banking for its customers. In addition to working with world leading technology companies such as Microsoft, TD has also:

  • Collaborated with startups including:
    • Flybits, to collaborate on providing enhanced, micro-personalized mobile experiences to TD customers;
    • The Hydrogen Corporation (Hydrogen), to offer clients who invest with TD a complete, end-to-end digital investing experience; 
    • Kasisto, to integrate the conversational AI provider's KAI Banking platform into TD's top-ranked mobile app1;
  • Created a data and analytics centre of excellence focused on cross-bank, data-driven innovation;
  • Acquired leading Canadian artificial intelligence start-up Layer 6 in early 2018 to harness the power of AI and shape the future of banking for TD customers;
  • Further invested in digital talent with our Technology Solutions team filling over 2,000 positions with a combination of internal and external applicants in 2018;
  • Invested in TD Lab, TD's enterprise resource for innovation, located at the Communitech hub in Kitchener-Waterloo, to explore new banking concepts with emerging technology, re-imagined customer experiences, and different business models.

About TD Bank Group

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by branches and serves more than 25 million customers in three key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in TD Ameritrade; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 12 million active online and mobile customers. TD had CDN$1.3 trillion in assets on January 31, 2019. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.

About Microsoft

Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

__________________________

1 #1 performer in terms of monthly active users, number of downloads, average number of sessions per user, and review scores for 12 straight months in 2018, according to Silicon Valley-based app analytics and market data firm, App Annie.

 

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SOURCE TD Bank Group

Sama Learning Wins Best Pitch At Capital Region ARVR Accelerator Demo Day 2019

SACRAMENTO, Calif., April 23, 2019 /PRNewswire/ — Sama Learning, based in the Capital Region, was awarded “Best Pitch” by a panel of 20 judges at the Capital Region ARVR Accelerator (CRARVR Accelerator) Demo Day held at the McClatchy New Ventures Lab in downtown Sacramento on Thursday, April 18, 2019. The announcement was made during a reception hosted by Five Star Bank.  Sama Learning uses virtual reality (VR) and artificial intelligence (AI) to provide personalized STEM lessons to students. This proprietary methodology has been piloted to university chemistry students and the result has been an improvement in one full letter grade for each student.  By going beyond textbooks and lectures, Sama Learning’s platform seeks to increase diversity in STEM by providing engaging and fun lessons to communities that have less representation in higher education such as women and people of color.

Capital Region ARVR Accelerator Demo Day 2019

Demo Day marked the culmination of the CRARVR Accelerator program. The other six startups that participated in Demo Day are Altwork, Cognivive, Meedia, Observer Analytics, Tesuji and Adventure Lab.  During the 12-week program, startups in the cohort were introduced to advisors, collaborated on milestone plans and attended workshops on fundraising and other key growth areas.  The judges came from across the Capital MegaRegion, including San Francisco and Silicon Valley; in industries such as healthcare, entertainment, technology, venture capital, architecture, media, manufacturing and education to offer their insight and opinions to the presenting founders.

“We want to make the Capital Region a hub for virtual reality and augmented reality,” explained Jon Gregory, CRARVR Accelerator General Partner, “whether that’s in education, rehabilitation, media and entertainment, analytics or healthcare and we’re pleased to be able to work with these seven companies.”

Judges at Demo Day included representatives from companies and organizations such as: The Venture Reality Fund, Impact Venture Capital, Moneta Ventures, Sacramento Angels, former COO/GC of Lucasfilm, California Employment Training Panel, Flextronics, McClatchy, Sierra Health Foundation, HTC, Samsung Next, Penney and Associates, Tech Futures Group, Applied Materials, among others.

ABOUT CRARVR Accelerator:  Located in the Capital Region of California, stretching from Nevada County to Solano County,  the CRARVR Accelerator is an exclusive program for seed and early-stage augmented reality (AR) and virtual reality (VR) disruptors looking for assistance in obtaining pilot customers and strategic partnerships.  For more information, please visit: www.crarvraccelerator.com.

Contact:

Jon Gregory

Lesley Chinen

(530) 518-5733 mobile

(310) 710-9426 mobile

Jcgregory48@gmail.com 

lesley@lcproductionsonline.com

 

 

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SOURCE Capital Region ARVR Accelerator

China Finance Online Reports Fourth Quarter and Full Year 2018 Unaudited Financial Results

BEIJING, April 23, 2019 /PRNewswire/ — China Finance Online Co. Limited (“China Finance Online”, or the “Company”, “we”, “us” or “our”) (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2018.

Fourth Quarter 2018 Financial Highlights

  • Net revenues were $10.7 million, up from $8.6 million in the third quarter of 2018
  • Revenues from advertising grew 85.5% year-over-year and 109.7% quarter-over-quarter
  • Gross margin was 65.1%, up from 58.2% in the third quarter of 2018
  • Net loss attributable to China Finance Online was $4.4 million, compared with a net loss of $8.4 million in the fourth quarter of 2017

Full Year 2018 Highlights

  • Net revenues were $45.5 million, up 6.7% year-over-year
  • Revenues from the financial information and advisory business grew 45.0% year-over-year
  • Revenues from advertising increased by 103.8% year-over-year
  • According to the Company’s asset allocation system, our Robo-Advisor product, Lingxi, significantly outperformed all Chinese market key indices and most of its peer products in the Chinese market with 95% of all its strategies posting positive returns in 2018. For the full year, the defensive strategy designed by Lingxi yielded an annual return of 5.28%.

Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online, commented, “Our top line further improved from the third quarter while our net loss was narrowed. Through the efforts of controlling cost and improving efficiency, for 2018, our net revenue increased year-over-year and our bottom line losses were reduced by $16.8 million. With the priority of strengthening future growth potential, we will continue to improve efficiency.

While the stock market suffered major losses in China and Hong Kong during the fourth quarter, our equity-brokerage related business maintains a strong growth momentum and our intelligent-finance driven fintech business continued to lock in contracts with leading brokerage firms in China. We are pleased that we have established strategic partnerships with influential financial institutions in China and are developing systems to empower their wealth management services.” 

“Our other operations have also been making solid progress. Our website “JRJ.com.cn” remains a popular destination for news and analysis on the economy and capital markets, and its unique visitors all year in 2018 rose to 253 million from 236 million in 2017 and 169 million in 2016. The strong growth of traffic to our site was attributable to the improvement of our fact-based journalism, breaking news coverage and proprietary deep dive content,” Mr. Zhao concluded.

Fourth Quarter 2018 Financial Results

Net revenues were $10.7 million, compared with $13.6 million during the fourth quarter of 2017 and $8.6 million during the third quarter of 2018. During the fourth quarter of 2018, revenues from financial services, the financial information and advisory business, and advertising services contributed 53%, 19% and 28% of the net revenues, respectively, compared with 66%, 21% and 12%, respectively, for the corresponding period in 2017.

Revenues from financial services were $5.7 million, compared with $8.9 million during the fourth quarter of 2017 and $4.7 million during the third quarter of 2018. Revenues from financial services consist mainly of equity brokerage services. The year-over-year decrease of revenues from financial services was mainly due to the reduced revenue from the equity brokerage business. The quarter-over-quarter increase was mainly driven by the strengthening of Rifa’s equity brokerage business.

Revenues from the financial information and advisory business were $2.0 million, compared with $2.9 million during the fourth quarter of 2017 and $2.4 million in the third quarter of 2018. Revenues from the financial information and advisory business were comprised of subscription services from individual and institutional customers and financial advisory service. During the fourth quarter, subscription revenue from individual investors decreased by 12.3% year-over-year, mainly due to the effects of streamlining sales team and upgrading business operation for long-term healthy growth during the fourth quarter. 

Revenues from advertising services were $3.0 million, compared with $1.6 million in the fourth quarter of 2017 and $1.4 million in the third quarter of 2018. The increased traffic to our site also helped elevate our advertising revenues on both a year-over-year and quarter-over-quarter basis.

Gross profit was $6.9 million, compared with $6.8 million in the fourth quarter of 2017 and $5.0 million in the third quarter of 2018. Gross margin in the fourth quarter of 2018 was 65.1%, compared with 49.7% in the fourth quarter of 2017 and 58.2% in the third quarter of 2018. The year-over-year and quarter-over-quarter increases in gross margin were mainly due to increased revenue contribution from advertising which carries a higher gross margin.

General and administrative expenses were $4.9 million, compared with $4.1 million in the fourth quarter of 2017, and $3.1 million in the third quarter of 2018. The year-over-year and quarter-over-quarter increases were mainly attributable to increased bad debt provisions.

Sales and marketing expenses were $4.4 million, compared with $6.8 million in the fourth quarter of 2017, and $4.8 million in the third quarter of 2018. The year-over-year decrease of 35.1% was mainly attributable to the reduction of consulting fees related to commodities brokerage business and sales commissions. The quarter-over-quarter decrease of 7.4% was mainly attributable to the reduction in advertising.

Research and development expenses were $2.9 million, compared with $3.8 million in the fourth quarter of 2017 and $3.5 million in the third quarter of 2018. The year-over-year and quarter-over-quarter decreases were mainly attributable to improved efficiency after the consolidation of the R&D team throughout different business units. The Company continues to maintain a team of senior software engineers, data scientists and capital market professionals to support further development in its fintech capabilities.

Total operating expenses were $12.3 million, compared with $14.7 million in the fourth quarter of 2017, and $11.3 million in the third quarter of 2018. The year-over-year decrease was mainly due to improved efficiency and effective cost controls. The quarter-over-quarter increase was mainly due to bad debt provisions.

Loss from operations was $5.4 million, compared with a loss from operations of $8.0 million in the fourth quarter of 2017 and a loss from operations of $6.3 million in the third quarter of 2018.

Net loss attributable to China Finance Online was $4.4 million, compared with a net loss of $8.4 million in the fourth quarter of 2017 and a net loss of $6.0 million in the third quarter of 2018.

Fully diluted loss per American Depository Shares (“ADS”) attributable to China Finance Online was $0.19 for the fourth quarter of 2018, compared with fully diluted loss per ADS of $0.37 for the fourth quarter of 2017 and fully diluted loss per ADS of $0.26 for the third quarter of 2018. Basic and diluted weighted average numbers of ADSs for the fourth quarter of 2018 were 22.8 million, compared with basic and diluted weighted average number of ADSs of 22.7 million for the fourth quarter of 2017. Each ADS represents five ordinary shares of the Company.

Full Year 2018 Financial Results

Net revenues for full year 2018 were $45.5 million, an increase of 6.7% compared with $42.6 million for 2017.

Revenues from financial services for the full year 2018 were $23.1 million, a decrease of 18.3% compared with $28.2 million for 2017.

Revenues from the financial information and advisory business for the full year 2018 were $14.9 million, an increase of 45.0% compared with $10.3 million for 2017.

Revenues from advertising services for the full year 2018 were $7.3 million, an increase of 103.8% compared with $3.6 million for 2017.

Gross profit for the full year 2018 was $28.6 million, an increase of 38.4% compared with $20.7 million in the full year 2017. Gross margin was 63.0% compared with 48.5% in 2017.

Net loss attributable to China Finance Online for the full year 2018 was $20.0 million, compared with $36.7 million in 2017.

Fully diluted loss per ADS attributable to China Finance Online was $0.88 for the full year 2018, compared with $1.62 in 2017. Basic and diluted weighted average numbers of ADSs for the full year 2018 were 22.8 million.

Recent Developments 

  • Lingxi Robo-Advisor recorded strong performance in the fourth quarter of 2018 and full year of 2018

According to our proprietary asset allocation system, our Robo-Advisor product, Lingxi, provides Chinese retail investors with a wide array of investment combinations and personalized global asset allocations through Chinese domestic mutual funds.

Since its inception, Lingxi significantly outperformed all Chinese market key indices and most of its peer products in the Chinese market. In 2018, the Shanghai Composite Index experienced a loss of 24.6%. However, 95% of the strategies in the Company’s Robo-Advisor product, Lingxi, posted positive returns, with a defensive strategy yielding an annual return of 5.28% in 2018. Since its inception in 2017 to the end of 2018, the accumulative returns of Lingxi’s high-risk, medium-risk and low-risk strategies were 16.94%, 13.91% and 10.79%, respectively.

  • China Finance Online Launched its Turnkey Asset Management Platform (TAMP)

In late 2018, the Company launched the i-TAMP platform (Turnkey Asset Management Platform) to provide financial advisors consultation and advice on stocks, mutual funds, wealth management products, insurance, trust and other financial products. Featuring best-in-class TAMP, this platform has already attracted hundreds of financial advisors to open their online offices to provide services to mass retail investors. The key benefits of the i-TAMP platform are the superior user experience and robust product functionalities which empower financial advisors to better serve their clients.

  • China Finance Online Forms Strategic Partnership with Leading Futures Brokerage Firm CIFCO

In January 2019, the Company signed a strategic partnership agreement with Founder CIFCO Futures Co. Ltd (“Founder CIFCO Futures”), a leading futures brokerage firm in China. Pursuant to the partnership agreement, both parties will collaborate in the development of more advanced trading system, smart market news alert, cloud-based research platform and industry forums.

  • China Finance Online Entered into Multiple Contracts from Leading Brokerage Firms

In January 2019, the Company announced it had entered into a contract from Orient Securities Co., Ltd. (“Orient Securities”), a Top 10 leading brokerage firm in China according to Securities Association of China, to construct an intelligent, contextual, pragmatic online nationwide investor education center to equip Orient Securities with industry-leading comprehensive intelligent solution for investor education. In addition to Orient Securities, the Company also entered into contracts with other leading brokerage firms such as BOCI International (China) Limited (BOCI) and Southwest Securities to develop smart and customized solutions for investor education.

  • 2018 Fintech & Leading China Annual Forum

In December 2018, the Company hosted the “2018 Fintech Forum & Leading China Annual Awards” in Beijing. The key discussions were artificial intelligence, data security, big data, risk management, IoT and blockchain. The conference is committed to promoting the long-term health of the financial industry in China and has received high recognition from financial regulators and institutions.

  • Awards and Letters of Appreciation from the China Banking Association, China Banking Regulatory Commission, China Securities Investment Association and National Internet Finance Association of China.

In 2018, the Company’s media content department received a slew of awards and letters of appreciation from the China Banking Association, China Banking Regulatory Commission, Securities Investment Association and National Internet Finance Association of China for its outstanding media coverages on the Chinese banking industry and stock markets. These accolades are government endorsements of our efforts in promoting rational and long-term investment philosophy. As the No. 2 most popular financial news website in China by Sina, the Company has 253 million unique visitors in 2018 along with a robust presence in large Chinese social media domains including 2.7 million followers on Weibo, 1 million followers on Wechat, and 1.8 million followers on TikTok. In recent months, the Company has been consistently ranked No. 1 on Baidu’s financial institutions value board for its 500,000 followers and accumulative reads of 410 million.

Conference Call Information

The management will host a conference call on April 23, 2019 at 8:00 p.m. U.S. Eastern Time (8:00 a.m. Beijing/Hong Kong time April 24, 2019). Dial-in details for the earnings conference call are as follows:

US: 1-800-742-9301
Hong Kong: 800-906-648
Singapore: 800-616-2313
China: 800-870-0210 or 400-120-3170
Conference ID: 8985259

Please dial in 10 minutes before the call is scheduled to begin and provide the conference ID to join the call.

A recording of the call will be available on China Finance Online’s website under the investor relations section.

In addition, a live and archived webcast of the conference call will be available at https://edge.media-server.com/m6/p/mr48xpx3.

About China Finance Online

China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers. The Company’s prominent flagship portal site, www.jrj.com, is ranked among the top financial websites in China. In addition to the web-based securities trading platform, the Company offers basic financial software, information services and securities investment advisory services to retail investors in China. Through its subsidiary, Shenzhen Genius Information Technology Co. Ltd., the Company provides financial database and analytics to institutional customers including domestic financial, research, academic and regulatory institutions. China Finance Online also provides brokerage services in Hong Kong.

Safe Harbor Statement

This press release contains forward-looking statements which constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. The statements contained herein reflect management’s current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the Company. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, this release contains the following forward-looking statements regarding:

  • our prospect and our ability to attract new users;
  • our prospect on building a comprehensive wealth management ecosystem through providing a fully-integrated online communication and securities-trading platform;
  • our prospect on stabilization in cash attrition and improvement of our financial position;
  • our initiatives to address customers’ demand for intuitive online investment platforms and alternative investment opportunities; and
  • the market prospect of the business of securities-trading, securities investment advisory and wealth management.

Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which risk factors and uncertainties include, amongst others, changing customer needs, regulatory environment and market conditions that we are subject to; the uneven condition of the world and Chinese economies that could lead to volatility in the equity markets and affect our operating results in the coming quarters; the impact of the changing conditions of the mainland Chinese stock market, mainland Chinese precious metals exchanges, Hong Kong stock market and global financial markets on our future performance; the unpredictability of our strategic transformation and growth of new businesses; the prospect of our margin-related business and the degree to which our implementation of margin account screening and ongoing monitoring will yield successful outcomes; the degree to which our strategic collaborations with partners will yield successful outcomes; the prospects for China’s high-net-worth and middle-class households; the prospects of equipping our customer specialists with new technology, tools and financial knowledge; wavering investor confidence that could impact our business; and possible non-cash goodwill, intangible assets and investment impairments may adversely affect our net income. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F under “Forward-Looking Information” and “Risk Factors”. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For more information, please contact:

China Finance Online
+86-10-8336-3100
ir@jrj.com

Kevin Theiss
Awaken Advisors
(212) 521-4050
kevin.theiss@awakenlab.com

 

 

China Finance Online Co. Limited

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

Dec. 31, 2018

Dec. 31, 2017

Assets

Current assets:

Cash and cash equivalents

12,493

38,693

Restricted cash

2,036

Trust bank balances held on behalf of customers

31,218

39,169

Accounts receivable, net – others

7,102

8,977

Accounts receivable, net – Margin clients

17,751

8,011

Short-term investments

533

Prepaid expenses and other current assets

2,409

4,198

Total current assets

70,973

101,617

Long-term investments, net

2,411

2,531

Property and equipment, net

4,459

6,885

Acquired intangible assets, net

85

96

Rental deposits

964

1,141

Goodwill

108

108

Deferred tax assets

1,473

1,621

Other deposits

216

605

Total assets

80,689

114,604

Liabilities and equity

Current liabilities:

Deferred revenue, current (including deferred revenue, current of the consolidated variable interest entities without recourse to China Finance Online Co. Limited of $7,119 and $8,477 as of Dec. 31, 2018 and December 31,2017, respectively)

8,127

9,371

Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $3,846 and $6,109 as of Dec. 31, 2018 and December 31, 2017, respectively)

11,728

9,953

Contingent liability (including contingent liability of the consolidated variable interest entities without recourse to China Finance Online Co. Limited nil and nil as of Dec. 31, 2018 and December 31, 2017, respectively)

3

Amount due to customers for trust bank balances held on behalf of customers (including amount due to customers for trust bank balances held on behalf of customers of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $5,599 and $5,375 as of Dec. 31, 2018 and December 31, 2017, respectively)

31,218

39,169

Accounts payable (including accounts payable of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $189 and $1,067 as of Dec. 31, 2018 and December 31, 2017, respectively)

2,947

9,462

Income taxes payable (including income taxes payable of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $(2) and $484 as of Dec. 31, 2018 and December 31, 2017, respectively)

155

553

Total current liabilities

54,175

68,511

Deferred tax liabilities (including deferred tax liabilities of the consolidated variable interest entities without recourse to China Finance Online Co. Limited $13 and $218 as of Dec. 31, 2018 and December 31, 2017, respectively)

29

237

Deferred revenue, non-current (including deferred revenue, non-current of the consolidated variable interest entities without recourse to China Finance Online Co. Limited (9) and $25 as of Dec. 31, 2018 and December 31, 2017, respectively)

149

144

Total liabilities

54,353

68,892

Noncontrolling interests

(9,110)

(8,335)

Total China Finance Online Co. Limited
Shareholders’ equity

35,446

54,047

Total liabilities and equity

80,689

114,604

 

 

China Finance Online Co. Limited

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(in thousands of U.S. dollars, except share and ADS related data)

Three months ended

The year ended

Dec. 31,2018

Dec. 31, 2017

Sep.30,2018

Dec. 31,2018

Dec. 31, 2017

Net revenues

10,657

13,597

8,614

45,478

42,623

Cost of revenues

(3,723)

(6,837)

(3,600)

(16,842)

(21,934)

Gross profit

6,934

6,760

5,014

28,636

20,689

Operating expenses

General and administrative(includes share-based compensation expenses of $315, $561,$371, $1,829 and $1,119 respectively)

(4,936)

(4,055)

(3,063)

(14,254)

(15,250)

Sales and marketing (includes share-based compensation expenses of $22, $26, $65, $219 and $54, respectively)

(4,442)

(6,845)

(4,796)

(22,066)

(29,467)

Product development (includes share-based compensation expenses of $4, $69, $61, $192 and $133, respectively)

(2,925)

(3,822)

(3,468)

(13,924)

(16,208)

Loss from impairment of intangible assets

(292)

Total operating expenses

(12,303)

(14,722)

(11,327)

(50,244)

(61,217)

Government subsidies

230

Income (loss) from operations

(5,369)

(7,962)

(6,313)

(21,608)

(40,298)

Interest income

15

235

4

97

487

Interest expense

(1)

(3)

Short-term investment income, net

4

(2)

2

(73)

63

Gain(loss)on the interest sold
and retained noncontrolling
investment

(1,186)

(2,406)

(1,187)

(1,997)

Gain from sale of equity
method investment

111

Equity method investment
income

4

(3)

(1)

(13)

Other income (loss), net

549

208

(132)

107

(283)

Exchange gain (loss), net

73

(153)

61

247

(131)

Income (loss) before income
tax expenses

(5,910)

(10,083)

(6,379)

(22,418)

(42,064)

Income tax expenses

6

170

76

(52)

(324)

Net income (loss)

(5,904)

(9,913)

(6,303)

(22,470)

(42,388)

Less: Net income (loss) attributable to the noncontrolling interest

(1,470)

(1,538)

(283)

(2,520)

(5,652)

Net income (loss) attributable
to China Finance Online Co. Limited

(4,434)

(8,375)

(6,020)

(19,950)

(36,736)

Net income (loss)

(5,904)

(9,913)

(6,303)

(22,470)

(42,388)

Changes in foreign currency translation adjustment

(93)

19

(189)

(362)

2,400

Net unrealized gain on available-for-sale securities, net of tax effects of nil, nil, nil, nil and nil respectively

118

Other comprehensive income (loss), net of tax

(93)

137

(189)

(362)

2,400

Comprehensive income (loss)

(5,997)

(9,776)

(6,492)

(22,832)

(39,988)

Less: comprehensive income (loss) attributable to noncontrolling interest

(1,470)

(1,538)

(283)

(2,520)

(5,652)

Comprehensive income (loss) attributable to China Finance Online Co. Limited

(4,527)

(8,238)

(6,209)

(20,312)

(34,336)

Net income (loss) per share attributable to China Finance Online Co. Limited

Basic

(0.04)

(0.07)

(0.05)

(0.18)

(0.32)

Diluted

(0.04)

(0.07)

(0.05)

(0.18)

(0.32)

Net income (loss) per ADS attributable to China Finance Online Co. Limited

Basic

(0.19)

(0.37)

(0.26)

(0.88)

(1.62)

Diluted

(0.19)

(0.37)

(0.26)

(0.88)

(1.62)

Weighted average ordinary
shares

Basic

113,912,936

113,693,018

113,905,561

113,883,030

113,601,949

Diluted

113,912,936

113,693,018

113,905,561

113,883,030

113,601,949

Weighted average ADSs

Basic

22,782,587

22,738,604

22,781,112

22,776,606

22,720,390

Diluted

22,782,587

22,738,604

22,781,112

22,776,606

22,720,390

 

 

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SOURCE China Finance Online Co., Ltd.

Everyware™ Selected By ETA As Payments’ NexTen Innovators To Exhibit At TRANSACT

AUSTIN, Texas, April 23, 2019 /PRNewswire-PRWeb/ — Everyware, a company redefining payment processing and customer engagement via two-way text communication, has been selected as one of the Payments’ NexTen Innovators to work on solving critical challenges facing the industry at this year’s TRANSACT. The event will take place at Mandalay Bay Convention Center in Las Vegas from April 30th to May 2nd.

TRANSACT is a show focused solely on the business of payments technology. Powered by Electronic Transactions Association (ETA), the world’s largest payments industry trade group, TRANSACT is the place where financial institutions, networks, payments companies, fintech and technology innovators gather to make the deals that shape the industry.

“We are inspired by the remarkable slate of companies participating in the Payments’ NexTen at TRANSACT,” said ETA Interim CEO Amy Zirkle. The entire ecosystem will benefit from their new and innovative approaches. We look forward to showcasing them on the show floor at TRANSACT and we are eager to see what they do next.”

Everyware will be exhibiting at TRANSACT’s WorldPay NexTen Zone with the opportunity to pitch and receive comprehensive feedback from a panel of industry mentors. This event will allow the company to work alongside other innovative industry players .There will also be exclusive networking opportunities with startups, investors, and leading payment industry executives.

“Consumers are going to demand a fast, simple and secure text payment solution,” said Larry Talley, CEO and Founder of Everyware. Our Pay-By-Text solution is taking mobile payments to a whole new level of convenience and speed with over 100 million dollars already collected in payment transactions using our one simple click to purchase technology.”

Everyware is solving problems for the payment industry by incorporating text communication with payments. The company offers a faster and more convenient way to collect payments utilizing its Pay-By-Text solution. This provides merchants with the tools to automate collecting payments via text. Consumers can securely make a payment on their phone without talking to anyone and it allows consumers to text back any questions to help drive the adoption of contactless payments.

The digitization of daily life is making connected devices and phones the preferred payment tools for consumers. At the event, Everyware will discuss how the adoption of contactless payments in the U.S. market can be increased utilizing its pay by text solution, both on the consumer side as well as the merchant side. Other topics to be discussed at the event include Facial Recognition/Biometrics, Internet of Things (IoT), Data, and Artificial Intelligence/Machine Learning.

About Everyware
Everyware is a conversational payment gateway that sends automated text receipts after every purchase to authorize and validate payment to prevent fraud. Sending a simple text receipt after every purchase will create a tether between you and the customer allowing them to text back when it’s convenient for them. Opening this two-way communication with customers will help mitigate risk, improve customer service, and increase revenue. From merchant processing to sending simple text receipts, making text communication a part of the purchase process will improve the customer journey.

For more information on how Everyware can change the way businesses communicate with customers visit their Linkedin.

 

SOURCE Everyware

NEORIS Uncovers Innovation Opportunities at eMerge Americas 2019

MIAMI, April 23, 2019 /PRNewswire/ — NEORIS, a digital transformation service provider that accelerates innovation for global enterprises, today unveiled activations supporting their presence at eMerge Americas 2019. The conference takes place on April 29-30 at the Miami Beach Convention Center in Miami Beach, FL. 

(PRNewsfoto/NEORIS)

On Monday, April 29, DeLima delivers Artificial Intelligence: Rethinking Humanity’s Evolution, a keynote address that evokes curious minds through his futuristic views of a society where AI reaches human parity and inevitably achieves Superintelligence. “When looking at current AI progress and combining it with advances in genetic engineering, it is evident that humanity’s progress is accelerating on a scale that is a million times faster. Natural evolution took 10’s of 1000’s of years, however, it is now probable that the merge of technology and human intelligence will occur thus opening the door to the next stage of humanity’s evolution,” says Anthony DeLima, Head of Digital Transformation and Global CTO at NEORIS.

By coupling their industry leaders with an otherworldly platform, NEORIS’ booth challenges traditional tradeshow presence. Attendees can anticipate a unique experience that expands their knowledge of solutions disrupting their industries.

On Tuesday, April 30, Mendez hosts an exclusive lunch to present “Interconnecting Industries to Intersect Successes,” a unique perspective that blurs traditional industry lines to explore new business models.

My lunch offers executives an open forum to discuss B2B and B2C industry interconnections to create new competitive poisoning and improve profitability. Topics include ways to optimize customer experiences to monetize interactions and restructure business models, both within respective sectors and across industries,” says Martin Mendez, CEO at NEORIS.

Throughout the event, meet NEORIS’ disruptive leaders at booth number 437. To explore additional engagement options, visit the official sponsorship page https://www.neoris.com/emerge-event.

About NEORIS
NEORIS is a leading global consultancy that co-creates disruptive solutions for digitally aspirational companies to boost their connections with customers, employees and stakeholders; ignited by creative teams with deep industry knowledge and technical expertise. Headquartered in Miami, FL., NEORIS has a network of global delivery centers, design studios and operations in the U.S., Europe, Latin America, Africa, the Middle East and Asia. More information is available at www.neoris.com, LinkedIn, Facebook, or Twitter.

Contact
Jessica Barrios
Marketing and Communications at NEORIS
jessica.barrios@neoris.com

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SOURCE NEORIS

IBM and FIT Announce Collaboration to Help Build the Creative Fashion Workforce of the Future

NEW YORK, April 23, 2019 /PRNewswire/ — The Fashion Institute of Technology’s (FIT) FIT/Infor Design and Technology Lab (DTech Lab) and IBM (NYSE: IBM) today announced a collaboration that will transform how the fashion industry operates, and will help build the creative fashion workforce of the future. 

FIT Logo (PRNewsfoto/Fashion Institute of Technology)

FIT will leverage IBM’s artificial intelligence (AI) for fashion capabilities – a suite of application programming interfaces (APIs) developed and trained for the fashion industry that leverage deep learning, natural language processing, and computer vision to help fashion companies improve customer experience, enhance their product design, development, and merchandising/planning activities, and augment merchandise performance analysis.

These APIs can be delivered individually, incorporated into existing applications, and/or be leveraged to develop new retail applications, such as trend identification or analysis, product design, development, and merchandising.

FIT’s initial experience with IBM AI for Fashion was in 2018 when Tommy Hilfiger teamed with IBM and the DTech Lab on “Reimagine Retail,” a project to show how AI can give a fashion brand a competitive edge with market insights, product design, personalization and supply chain optimization. The tools also equipped the next generation of retail leaders with new skills using AI in design.

“Reimagine Retail was a powerful example of what happens when fashion partners with a global tech leader to advance challenging innovations,” said Michael Ferraro, director of the FIT/Infor DTech Lab. “Embedding emerging technology into our lab where faculty and students are solving industry problems is the next step in our evolving relationship with IBM. We’re leveraging the fresh perspectives and new ideas of talented creative students in an agile research environment.”

Due to the success of Reimagine Retail, FIT and IBM are taking the collaboration further, to encompass:

  • DTech Lab: FIT will use IBM AI for Fashion capabilities within its DTech Lab, an innovation center that partners with industry to engage in innovative research that drives changes in the $2.5 trillion fashion industry. Through projects that combine coursework with professionally guided learning, the lab leverages the fresh perspectives and new ideas of talented, creative students. Here, FIT students from Fashion Design, Textile Development and Marketing, International Trade and Marketing for the Fashion Industries, and Fashion Business Management will work directly with the APIs, developing new use cases and providing input on end user functionality and experience.
  • Partner Projects: IBM and FIT will work together to help leading fashion companies develop solutions to address challenges in product design and development, merchandising, planning and allocation, and customer sales and service. Because the DTech Lab can help to “de-risk” innovation for large brands by testing in a safe environment, it helps enable companies to explore new emerging areas that they’d like to develop into and gain direct experience. Working with IBM’s AI and related tools and technologies provides opportunities to explore projects that address specific brand challenge(s) in customer experience and engagement, supply chain, and/or enterprise operations.
  • Enhanced Curriculum: FIT faculty are currently exploring opportunities to integrate IBM’s AI tools into existing courses in Math, Science, Creative Technology and Design, Fashion Design, and Fashion Business Management, helping students throughout the college prepare to lead the workforce of the future. IBM will contribute to this coursework, and offer opportunities for students to engage directly with its industry and AI team.
  • Joint Research: FIT faculty and students will collaborate with IBM Research to solve key industry challenges in areas such as supply chain effectiveness, fashion sustainability, and the development of fashion ontologies. Specific examples may include identifying whether or not children’s products contain lead or other harmful materials, recognizing silhouettes in pattern and texture, or using AI tools to identify and develop new approaches to fabric combinations.

“FIT is an educational force that continues to innovate and ensure the future of the creative industries, including fashion,” said Dr. Joyce F. Brown, president of FIT. “We are proud to partner with IBM. Together we can look forward to many breakthroughs in resolving the challenges of today and tomorrow.”

“After a successful IBM-FIT project for Tommy Hilfiger last year, formalizing our relationship with FIT is a natural next step to accelerate our development of AI solutions for the fashion industry,” said  Luq Niazi, IBM’s Global Consumer Industry Managing Director.

Since its inception in the summer of 2017 through the current spring 2019 semester, the DTech Lab has taken on 19 projects involving 76 students and 21 faculty. “I learned how interesting and rewarding it is to try new things,” said Amber Saca, an FIT Packaging Design student. “Working with the Lab gave me the confidence to design on a wide range of subjects that are outside of my comfort zone.”

About IBM
For further information please visit: www.ibm.com.

About FIT
FIT, a part of the State University of New York, has been a leader in career education in art, design, business, and technology for almost 75 years. Providing its 9,000 students with an uncommon blend of hands-on, practical experience, theory, and a firm grounding in the liberal arts, the college offers a wide range of affordable programs that foster innovation and collaboration. Its distinctive curriculum is geared to today’s rapidly growing creative economy, including fields such as computer animation, toy design, production management, film and media, and cosmetics and fragrance marketing. Internationally renowned, FIT draws on its New York City location to provide a vibrant, creative community in which to learn. The college offers nearly 50 majors and grants AAS, BFA, BS, MA, MFA, and MPS degrees, preparing students for professional success and leadership in the new creative economy. Among notable alumni in fashion are Calvin Klein, Michael Kors, Reem Acra, Brian Atwood, Dennis Basso, Francisco Costa, Norma Kamali, Nanette Lepore, Bibhu Mohapatra, Ralph Rucci, John Bartlett, and Michelle Smith. Other prominent graduates include Leslie Blodgett, creator of bareMinerals; international restaurant designer Tony Chi; and Nina Garcia, editor in chief, Elle. Visit fitnyc.edu.

About FIT/Infor Design and Technology Lab
The FIT/Infor DTech Lab is a public-private partnership between Infor, an industry leader in Enterprise Resource Planning (ERP) software, and the Fashion Institute of Technology, with a mission to engage faculty and students as the solve industry problems with design and technology.  The Lab was created to explore the impact of emerging technology on design, manufacturing and retail. It is organized around four core initiatives: enhance education with experiential learning, engage industry through innovative partnerships, empower entrepreneurs by directly engaging emerging designers, and envision the future through projects that explore new ideas for business and creativity.

Alexandra Mann
Media Relations Specialist
212 217.4722; alexandra_mann@fitnyc.edu

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SOURCE Fashion Institute of Technology

With New Patent Granted, AKA Takes a Step Closer to More Effective Human-Robot Interaction

SANTA MONICA, Calif., April 23, 2019 /PRNewswire/ — AKA, an AI development company, today announced the issuance of PCT Patent (PCT/KR2018/006493, REG 1019653720000) for “Method of Determining Emotion of Computer Dialogue Agents.”

The patented technology involves a method for determining the emotions of computer dialogue agents.

Developed and based on a psychoevolutionary theory – Plutchik’s Wheel of Emotions – which classifies emotions to eight basic categories, AKA’s new patented technology makes it possible to determine the emotion of a computer dialogue agent by using dimensionality reduction techniques to map sentences into a color-emotion space.

To determine the emotional content of a sentence, the method employs dimensionality reduction techniques to map emotions as points in three-dimensional space. It uses sentences’ pleasure, arousal and dominance values, produced by a regression algorithm trained on in-house data, to project a point into the 3D coordinate system. The point is then mapped into a color-emotion space, as specified by Plutchik’s Wheel of Emotions. The final value of the emotion is determined by the point’s position in the color-emotion space: the type of emotion, the intensity of emotion, as well as a color to represent it. This information is finally used to determine the facial expression of Musio, the color of its heart, and as a parameter in guiding the dialogue between the user and Musio.

“We believe this is a very important patent received,” said Raymond Jung, CEO of AKA. “It will further strengthen our AI Engine, MUSE, with more accurate emotional expressions in human-robot communications.”

For more information about AKA’s patent in Method of Determining Emotion of Computer, please visit here.

About AKA

AKA is developing AI engines to help improve communication between people and all things digital. AKA’s technology integrates artificial intelligence and big data to more effectively deliver essential communication tools, such as speaking, writing, facial expressions and gestures, which are often overlooked.

Learn more

Official Homepage: http://www.akaintelligence.com

Musio Product page:https://themusio.com

Media inquiry

press@akaintelligence.com

Related Images

illustration.jpg
Illustration
Dimensional space about pleasure, arousal and dominance (Left). Position identification and classification (Right).

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SOURCE AKA Intelligence

HTX Labs Awarded SBIR Phase I by US Air Force for Virtual Reality Training Program

HOUSTON, April 23, 2019 /PRNewswire/ — HTX Labs, LLC, the creator of enterprise immersive training and simulation programs for global business entities and government organizations, is a recent recipient of a U.S. Air Force Small Business Innovation Research (SBIR) Phase I award. The award provides funding for the continued development of training simulations built on HTX Labs’ EMPACT® Virtual Reality (VR) platform that are designed to enhance student understanding, retention and mastery of military procedures and protocols.

According to the Air Force, “The Air Force Research Laboratory (AFRL) and AFWERX, the Air Force’s newly-formed innovation arm, have partnered to streamline the Small Business Innovation Research (SBIR) process in an attempt to speed up the experience, broaden the pool of potential applicants and decrease bureaucratic overhead. Beginning in SBIR 18.2, the Air Force has begun offering ‘Special’ SBIR topics that are faster, leaner and open to a broader range of solutions.”

The SBIR Phase I award follows successful deployments of VR-based programs by HTX previously initiated for the Air Force’s Pilot Training Next (PTN) program, and provides a fast-track mechanism for any branch of the military to work directly with the Houston-based company on training simulations. Additionally, the award provides the ability for continued development of cutting-edge, immersive technology that leverages artificial intelligence, advanced biometrics and analytics to systematically and objectively measure the effectiveness of a training program by comparing an aggregate of students or a single student against an expert or a group of experts performing the exact same set of tasks.

Through immersive, hands-on simulations, students learn the necessary skills to perform their job in a completely safe and controlled environment that allows them to experience a life-like situation that may otherwise be impossible or unsafe to create in real-life. For example, the PTN program tests a student pilot’s ability to respond and initiate emergency procedures under the distress of various hazardous conditions that might take place in a Beechcraft T-6A cockpit.

“HTX has provided us an immersive emergency procedure trainer that filled an essential gap in our pilot training program. They are a responsive and attentive company, that have been great to work with!” commented Paul “Slew” Vicars, Lead for the Pilot Training Next (PTN) program for the U. S. Air Force. 

“We are honored to be a SBIR Phase I Select company, and are excited to help the Air Force train the aviator of the future,” said Scott Schneider, Co-Founder and CEO of HTX Labs. “The ability for a startup to work with any branch of the military based on the SBIR process is a tremendous opportunity, and we’re looking forward to developing simulations that improve student responsiveness and accuracy to situations that are inherently dangerous. We want to keep our military personnel safe, and immersive training plays a big role in meeting that objective.”

To learn more about HTX Labs and their involvement with the U.S. military, watch this video.

HTX Labs, a Houston-based commercial software company, is committed to HUMANIZE TRAINING within your organization. We have a vision to maximize human effectiveness and preparedness through the delivery of immersive learning experiences. We are adapting consumer-oriented technology, namely Virtual Reality, to address the needs of the enterprise because we believe this technology is a critical element in elevating the effectiveness of organizational training and learning. For more information, visit www.htxlabs.com.

Contact: Scott Schneider, CEO, HTX Labs, LLC, 281-744-8045

 

HTX Labs provides immersive training solutions utilizing Virtual Reality technology for enterprise businesses and military organizations.

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SOURCE HTX Labs, LLC

ServiceMax Announces New AI Capability with Remote Triage Offering

PLEASANTON, Calif., April 23, 2019 /PRNewswire/ — ServiceMax, the leading provider of cloud-based software for service execution management, today announced the launch of ServiceMax Remote Triage. The offering is a new module for the ServiceMax platform and leverages the power of Aquant’s leading machine learning engine to help service organizations analyze data from multiple sources to reduce unnecessary dispatching of technicians and service equipment, also known as “truck rolls.”

ServiceMax logo (PRNewsfoto/ServiceMax)

Every time a service technician is needlessly dispatched to a work site, or fails to complete a job during the first visit due to an unexpected problem, it cuts into a company’s bottom line. Even those service organizations that track asset movement in near real-time often need help pinpointing the causes of equipment failures and making sense of the best next steps.

The Technology Services Industry Association’s research report, The State of Field Services: 2019, notes that assisted proactive support technologies can help service organizations reduce truck rolls by as much as 71%. In fact, overall adoption of artificial intelligence capabilities for service work is on the rise. A March 2019 IDC report predicts that worldwide spending on AI systems will reach $35.8 billion in 2019, and is expected to more than double by 2022.

Leveraging Aquant’s Service Intelligence Platform, ServiceMax Remote Triage unlocks insights with natural language processing and machine learning. The module allows users to identify failures quickly and offers actionable solutions. Service organizations can empower their service teams with a guided process that asks pinpointed questions and ranks possible solutions by likelihood of success and cost effectiveness. Planners and dispatchers can triage the problem with greater accuracy, recommend a remote solution or if a truck roll is required, have greater confidence in selecting the right technicians for the job and dispatching them with the right parts and tools.

“As a client of both ServiceMax and Aquant, I’m excited that two great products are coming together to help organizations provide better service,” said Mark Hessinger, Vice President, Global Customer Services at 3D Systems. “With artificial intelligence-driven insights, resolving customer challenges has become more efficient and accurate, ultimately driving improved service profitability.”

“Truck rolls are one of the costliest actions in a service organization. With ServiceMax Remote Triage, we’ve added new capabilities to our platform to help improve and streamline service jobs from the very start, improving operations and experiences for customers and the technicians who service them,” said Amit Jain, Senior Vice President of Product at ServiceMax. “Our partnership with Aquant raises the bar on how field service applications can take advantage of AI and machine learning technologies to solve specific problems in the service execution process.”

“We are excited to announce our new partnership with ServiceMax,” said Shahar Chen, CEO of Aquant. “As the leader of AI technology for the service industry, we look forward to delivering more exciting products that empower service leaders with transformational business insights.”

Mark Hessinger of 3D Systems is presenting at Field Service USA 2019, speaking on April 24 about the company’s use of AI to transform service work. Members of the ServiceMax leadership team will also be presenting on April 23 and 24 about the future of field service management.

About ServiceMax
ServiceMax is the global leader in Service Execution Management, offering cloud-based software that improves the productivity of complex, equipment-centric service execution. Enterprise companies across the globe have turned to ServiceMax to help them keep the world running. For more information, visit www.servicemax.com.

About Aquant
Aquant’s service intelligence platform supercharges service performance by unlocking a new dimension of insight from enterprises’ existing data. The platform mines and analyzes data that is scattered across different systems, hidden in free text, and locked in the minds of the enterprise’s most experienced people. It empowers teams to use that data to improve first time resolution, optimize service team performance, assess risk, and drive exceptional customer experiences. 
For more information, visit www.aquant.io.

 

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SOURCE ServiceMax