Technology

Artificial Intelligence Big Data Cloud Computing Cyber Security Data Management Electronics Enterprise & Network Technology Financial Technology Hardware Mobile & Wireless Nanotechnology Semiconductor Software Telecommunications
News Release Digital Asset Direct

Vertical IQ’s Enhanced Localized Industry Data Drills Down to Local Market Level

Vertical IQ

Vertical IQ, a leading provider of Industry Intelligence, has rolled out their latest product enhancement: Localized Industry Data. Developed in response to customer feedback, Localized Industry Data gives Vertical IQ users access to even more in-depth local market data — down to the metropolitan statistical area (MSA) and county level — precise insights that previously were difficult to find in one place. Trusted advisors such as bankers, accountants, insurance producers, and others that advise small businesses can save research time by using Localized Industry Data to learn about the number of establishments, spending patterns, incomes, population growth, and wages of an industry in a specific geographical area — with the ability to see the 10-year trends in each of these areas — as well as to gain increased insights and understanding of what the data means. Updated quarterly, Localized Industry Data is valuable to incorporate into prospecting and relationship management efforts, allowing users to better advise clients/prospects on an industry’s potential expansion or contraction. In addition, these insights can help financial institutions assess lending and investing risks with greater precision. “At Vertical IQ, we have long-known that professional services providers who advise small businesses need to be experts in their local economy, but it should go one step further,” says Bobby Martin, CEO and co-founder at Vertical IQ. “Whether they are working with an HVAC contractor, engineering firm, physician practice, or veterinary clinic, they should also be experts in the unique local economic drivers that impact their customers’ industries and businesses.” The addition of Localized Industry Data to the Vertical IQ product fills a previously unmet need while also saving users’ valuable time. “We heard from our users that local economic data was researched sporadically — or not all — because there was no central place to get the information,” notes Ingo Winzer, chief economist at Vertical IQ. “Google searches are too time-consuming with search results that are potentially inaccurate/out of date, and other industry data providers only go to the state level. To truly move the needle for our customers, we wanted to go a level deeper, to the MSA/county level, which is what users really want.” Vertical IQ customers are already reaping the benefits of this new Localized Industry Data. Ken Bostwick, senior vice president and director of retail sales at Lakeland Bank explains: “If you want to understand what drives the success of a local company, you need to know what is going on in their industry at their city or county level. Vertical IQ’s Localized Industry Data arms me and my team with the local economic insights we need in order to strategize on industries or geographic areas to target. It also allows us to provide business owners with more tailored advice so they can in turn make data-informed business decisions.” ABOUT VERTICAL IQ Headquartered in Raleigh, N.C., Vertical IQ is a nationally recognized leader in Industry Intelligence. Whether they’re pitching a local brewery or a national biotech company, successful sales, marketing and customer success teams use Vertical IQ to better understand a prospect’s or client’s business challenges before, during and after meetings. Covering more than 560 distinct industries, 3,400 local economies and more than 97 percent of the U.S. economy and Canada, Vertical IQ equips users with the confidence and credibility to make memorable first impressions and sustain enduring relationships. Contact Details Jessica Teal +1 919-867-6313 jteal@verticaliq.com Company Website https://verticaliq.com/

March 13, 2024 09:00 AM Eastern Daylight Time

The Cultivated B Introduces n!Biomachines: Fit-For-Purpose Bioreactors Designed to Easily and Affordably Scale Cellular Agriculture

The Cultivated B

The Cultivated B (TCB) today announced the name change of its Canadian subsidiary, now embracing a broader mission. Formerly called The Cultivated B Canada and located in Burlington, Ontario, n!Biomachines (pronounced “n factorial biomachines”) is dedicated to fulfilling the commercial scalability and viability potential of industrial cellular agriculture technologies across a number of product categories. Unlike over-engineered bioreactors that were designed predominantly for pharmaceutical use, n!Biomachines delivers affordable, easy-to-operate systems for the food, dietary supplement and cosmetics industries, offering sustainable solutions that consume remarkably low amounts of electricity, in some cases as low as 150 watts. The company’s AUXO V fit-for-purpose bioreactors are engineered to focus on single applications, such as animal cells or yeast. This streamlines complex processes and eliminates the operational clutter that multifunctionality typically brings to bioprocessing. The AUXO V’s revolutionary design benefits large-scale manufacturing by improving process efficiency and drastically reducing the level of expertise needed to operate a bioreactor. “The mathematical term, 'n!', or n factorial, acknowledges the core of our mission: scalability and multiplication, with respect to our bioreactor capacity as well as bioprocessing opportunities for our customers,” said Dr. Hamid Noori, CEO of n!Biomachines and The Cultivated B. “'Biomachines' refers to the revolutionary redesign of bioreactors to be useful across all industry sectors that want to step away from overengineered, overly complex equipment. The name n!Biomachines signifies our ambition to expand the applications of bioprocessing through affordable, sustainable and purpose-driven bioreactor design.” Unparalleled usability, increased automation and optimized operational and equipment costs define this new generation of bioreactors for benchtop-, pilot- and industrial-scale bioprocessing without compromising production quality, safety or efficiency. With an emphasis on rapid delivery and cost-effective design, n!Biomachines unlocks bioprocessing for new industries while accelerating growth and innovation for established sectors. “It became clear to us that cellular agriculture industry is at an inflection point where benchtop processes are quite well-proven, but scalability and commercial viability have yet to be sufficiently addressed,” continued Dr. Noori. “Our new bioreactor designs enable efficient processes and the faster delivery times needed to accelerate and integrate cellular agriculture as an additional pillar of our food production system. n!Biomachines is the answer to removing the bioreactor bottlenecks that currently prevent this emerging industry from scaling.” About n!Biomachines n!Biomachines, a subsidiary of The Cultivated B, specializes in developing and manufacturing fit-for-purpose bioreactors for the next generation of bioprocessing. It targets benchtop, pilot- and industrial-scale bioprocessing, ensuring high-quality, safe and efficient operations. Unlike traditional bioreactors that were designed primarily for the pharmaceutical industry, n!Biomachines provides affordable, user-friendly systems for various bioprocesses and organisms, improving commercial viability and scalability for the food, supplement and cosmetics industries. By overcoming industry growth barriers, n!Biomachines aims to revolutionize manufacturing and facilitate the adoption of cellular agriculture technologies sustainably and efficiently. For more information, visit https://www.n-factorial.com/ and follow the company on LinkedIn. About The Cultivated B (TCB) The Cultivated B is a multinational company dedicated to the development and application of breakthrough technologies in cellular agriculture, precision fermentation and bioreactor engineering to enable scalable commercialization of the cellular-agriculture industry. TCB serves startups, corporations and academic research institutions within the food, pharma, cosmetics and personal care industries with its outstanding capabilities. The companyâs fundamental commitment to minimizing the natural resources used paves the way towards a sustainable future, locally, regionally and globally. TCBâs research and development team is based in Germany. PreFer Industries and n!Biomachines, based in Canada, are subsidiaries of TCB. For more information, visit https://www.thecultivatedb.com and follow the company on LinkedIn. Contact Details Jenna Beaucage +1 508-340-6851 tcb@rainerco.com Company Website https://www.thecultivatedb.com

March 13, 2024 06:03 AM Eastern Daylight Time

TRON integrated with Amazon Web Services to Accelerate Blockchain Adoption

TRON DAO

Geneva, Switzerland, March 12, 2024 – TRON DAO is glad to announce the integration with Amazon Web Services (AWS). This integration introduces the TRON Full Node on AWS, enabling users and developers to launch a TRON Full Node with unparalleled ease and efficiency. Seamless Full Node Deployment on AWS Through this integration, launching a TRON Full Node becomes as straightforward as clicking a button on AWS. This initiative is designed to lower the entry barrier for participating in the TRON network, fostering a more decentralized and robust blockchain ecosystem. The TRON Full Node available on AWS is based on the latest GreatVoyage-v4.7.3(Chilon) version, ensuring users have access to the most advanced features and security enhancements. Users can gain access to this integration here. Empowering Developers with Advanced Blockchain Solutions This integration is set to revolutionize how developers interact with blockchain technology. By utilizing AWS's powerful infrastructure, TRON Full Nodes can enhance DApp performance, availability, and scalability while maintaining the network's decentralized nature. This integration also offers comprehensive HTTP API and Grpc API support for external queries, making it easier for developers to build and deploy innovative blockchain applications. Future-Proofing Blockchain Development This integration aligns with TRON DAO's mission to accelerate the world's transition to a decentralized internet. By leveraging AWS's extensive cloud services, TRON is making strides in ensuring its blockchain network is more accessible, reliable, and scalable for users worldwide. Stay tuned for further updates and developments from TRON DAO as they continue to push the boundaries of blockchain technology in collaboration with AWS. About TRON DAO TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps. Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of March 2023, it has over 215.73 million total user accounts on the blockchain, more than 7.24 billion total transactions, and over $24.47 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country. TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum Media Contact Hayward Wong press@tron.network Contact Details Hayward Wong press@tron.network Company Website https://trondao.org/

March 13, 2024 12:07 AM Eastern Daylight Time

Image

TRON Network integrated with Token Terminal

Token Terminal

Zürich, Switzerland, March 12, 2024 - TRON DAO has collaborated with Token Terminal, integrating the TRON network’s data into Token Terminal’s sophisticated suite of data analytics tools. This collaboration promises to transform the way investors and analysts access and leverage TRON’s data. Token Terminal's Data Partnership is a comprehensive on-chain data analytics service for L1s, L2s, and app-chains. It involves running nodes for a partner's chain, making its data available in raw, decoded, and standardized formats across Token Terminal's platforms and products, including the Terminal Pro, API, and Data Room. Additionally, the partnership extends to cover qualitative aspects of the TRON network, including detailed research articles and regular podcast updates, enriching the data with deeper, contextual insights into the network. Oskari Tempakka, Head of Growth at Token Terminal, commented on the increasing demand for TRON network data: “At Token Terminal, we've observed a growing interest towards TRON among our institutional clients. The TRON network consistently ranks at the top for on-chain user activity, and holds a dominant lead in stablecoin transactions across all of crypto. We're excited to offer our users the ability to delve deeper into the on-chain activity that’s driving TRON network’s growth and adoption.” With the integration of TRON network’s data into Token Terminal, users gain access to a wide array of powerful data analytics tools. Key features include: Standardized financial and alternative metrics: Conduct in-depth due diligence through the analysis of key financial and alternative metrics on the TRON network. Comparative performance analysis: Compare TRON's performance against other blockchain projects, to gain valuable insights about the network’s positioning. Trending contracts: Analyze the top 1,000 trending contracts on TRON to uncover insights about the most dominant market sectors, projects, and smart contracts in the ecosystem. Trending wallets: Track trending wallets on TRON to better understand the type of accounts that drive usage on the network. User retention: Easily assess TRON network’s user retention rates and benchmark them against other major blockchains. Stablecoins: Analyze key stablecoin statistics across the TRON network and compare it among other major blockchains. Dave Uhryniak, Ecosystem Lead at TRON DAO, commented on the integration, “This collaboration with Token Terminal marks a significant step in elevating TRON’s visibility and accessibility. The comprehensive data analytics provided by Token Terminal will enable a deeper understanding of TRON’s network and its strategic position in the blockchain industry. We are excited to see how this integration will enhance TRON’s engagement with the broader crypto community and contribute to our network’s growth.” With this partnership, TRON network’s data is now also accessible through Token Terminal’s ‘ Crypto Fundamentals ’ application on the Bloomberg Terminal App Portal. In addition, Tronix (TRX), the native utility token of the TRON network, is eligible to be included in the MarketVector™ Token Terminal Fundamental Index Suite – a first-of-its-kind fundamentally-weighted basket of crypto assets that offers investors exposure to multi-token baskets, weighted based on economic traction. For additional details on this partnership, and to explore the range of data products offered by Token Terminal, please visit tokenterminal.com. About Token Terminal Launched in 2020, Token Terminal has established itself as a household name in the crypto data analytics market. Most recently, the platform was integrated into the Bloomberg Terminal, as the first crypto data analytics application of its kind. Further, Token Terminal has partnered with MarketVector to maintain fundamentals-weighted crypto asset indexes. Oskari Tempakka oskari@tokenterminal.xyz About TRON DAO TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps. Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of March 2023, it has over 217.38 million total user accounts on the blockchain, more than 7.27 billion total transactions, and over $25.53 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country. TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum Media Contact Hayward Wong press@tron.network Contact Details Oskari Tempakka oskari@tokenterminal.xyz

March 12, 2024 06:18 PM Eastern Daylight Time

Image

SIGMA Cine Lenses Chosen as Benchmark for Giant Screen Cinema Association’s Camera Assessment Test

SIGMA CORPORATION OF AMERICA

SIGMA Corporation of America, a leading camera and lens manufacturer for both photography and cinema applications, is proud to announce that its SIGMA 65mm T1.5 FF Cine Prime was selected as the benchmark cine lens for the Giant Screen Cinema Association’s (GSCA) Camera Assessment Test (CAT). Results of the CAT were unveiled today during the Filmmakers Symposium portion of the GSCA Film Expo, held March 11-13 at the AMC Citywalk IMAX Theater & Universal City Hilton. A team of cinematography professionals — led by renowned cinematographer James Neihouse, ASC and Michael Daut, co-chair of the GSCA Innovations Committee — conducted an extensive test to showcase the strengths of six higher-than-6K-resolution cameras. The objective was to provide filmmakers with invaluable information on how each camera performs in challenging shooting situations. This groundbreaking test involved a wide range of cameras, lenses, shooting scenarios, and locations. “The evaluation required lenses that provided sharp, clean, crisp images while being as ‘neutral’ as possible,” said James Neihouse, ASC. “We chose the SIGMA 65mm T1.5 FF Cine Prime lens for its exceptional corner to corner sharpness and ability to cover a full frame (Vista Vision) size sensor. In Giant Screen documentaries, we like an image that is as close to reality as possible, which is why we liked this SIGMA lens. Other lenses were considered but rejected for bringing their own ‘look’ to the images.” “We are honored that the GSCA selected the SIGMA 65mm T1.5 FF Cine Prime as the benchmark lens to assess these leading Cine cameras in the most demanding real-world situations,” reports Mark Amir-Hamzeh, President of SIGMA America. “ and this demonstrates SIGMA’s dedication to crafting exceptionally high-performing lenses for filmmaking.” Six cameras went through rigorous testing which examined sensor size and resolution, sensor space, compression, dynamic range, log space, RAW capture, lens mount, recording media, usability, reliability, flexibility, and support. The six selected cameras were ARRI Alexa 35, Canon R5C, Kinefinity MAVO Edge 8K, RED V Raptor XL, SONY A1 and SONY Venice 2. About Giant Screen Cinema Association (GSCA) GSCA is the essential organization that supports, grows, fortifies, and sustains the international network of premium giant screen theaters and content creators to provide immersive, transformational, educational, cinematic experiences. GSCA’s membership includes more than 200 organizations in over 20 countries and includes museums, science centers, and other institutions with giant screen theaters; production and postproduction professionals; content distributors; manufacturers; service providers; and other related businesses from around the world. GSCA is a member-driven organization with a full-time staff that works to meet the association’s needs and promote its members’ interests. About SIGMA Corporation of America SIGMA Corporation of America, founded in 1984, is the US subsidiary of SIGMA Corporation, a family-owned manufacturer of lenses, cameras, and photo accessories. Headquartered in Ronkonkoma, NY, SIGMA America expanded its US operations in 2018 with the opening of SIGMA Burbank, a multifunctional showroom, event space and repairs/distribution facility located in the heart of the Los Angeles entertainment industry. Craftsmanship. Precision. Dedication. Since 1961, SIGMA has been devoted to the pursuit of advancing photographic technology. Unique to the industry, the family-owned business produces its high-quality, award-winning still photo and cinema camera lenses, DSLR and mirrorless cameras, flashes, filters, and accessories from its state-of-the-art manufacturing facility located in Aizu, Japan. ### For information about SIGMA America, please visit sigmaphoto.com and SIGMA Blog for helpful information about our products. Follow SIGMA America on social media! SIGMA Photo: Facebook, Twitter and Instagram SIGMA Cine: Facebook, Twitter and Instagram Contact Details Jack Howard +1 631-201-7381 sigma.pr@sigmaphoto.com SDDPR Stacey Doss stacey@sddpr.com Company Website https://www.sigmaphoto.com/

March 12, 2024 09:00 AM Pacific Daylight Time

Image

HTX "Trade to Earn" Event Guide: Trade BTC to Get High $HTX Rewards for Free

HTX

On March 11, the cryptocurrency exchange HTX launched an open beta test for its brand-new "Trade to Earn" event, available to all users. This event, shaped by voice from the HTX DAO community, aims to deliver a fresh trading experience and generous $HTX rewards to users. Following the conclusion of the beta period, HTX will soon kick off the official event with an even more substantial prize pool daily. At the same time, the platform's all fee income generated from the BTC/USDT trading pair during the event will be fully used for $HTX buyback to support the stable $HTX appreciation. What is Trade to Earn? The Trade to Earn event is a benefit for all trading users. After successful registration for this event, participants can earn $HTX as rewards by trading designated cryptocurrencies. Additionally, all daily trading fees generated will be fully utilized for $HTX buybacks to support stable appreciation. 100% of $HTX acquired through buybacks will be entirely burned! This event enhances the platform's liquidity through reduced trading costs and improved trading efficiency, offering users better trading experience. Meanwhile, the supply of $HTX will be decreased through the event to enhance its stability and value, which will help attract more investors and users to participate in ecosystem development. Most importantly, this burning method also grants more earning opportunities for HTX DAO users. Through participation in liquidity mining and staking, users can receive more rewards in tokens, thereby achieving wealth appreciation. A Complete Guide to Participation 1. Eligibility ● The event is open to all HTX users, including market makers and API traders. ● Users must have a Rocket count of ≥6,000 and successfully register on the event page. 2. Event Schedule ● Open Beta Test Period: 12:00:00 (UTC) on March 11, 2024 to 11:59:59 (UTC) on March 14, 2024. ● The Trade to Earn event is on a daily basis. A day is defined from 12:00 (UTC) on Day T to 11:59 (UTC) on Day T+1. ● Event rewards will be calculated and updated starting on Day T+2 at 04:00 (UTC). Eligible users can claim their rewards of $HTX after the time. There are no lock-up restrictions for $HTX earned from the event, withdrawable at any time. 3. Event Rules ● Applicable Spot Trading Pair: BTC/USDT ● Reward Calculation: $HTX reward amount = Actual fee generated in USDT * Reward ratio by the order type / $HTX price at 12:00 (UTC) on Day T ● A participant will not receive rewards if either the daily reward limit for the participant or the daily prize pool limit is reached. Estimated Rewards ● The daily prize pool is a fixed value in USDT, specifically 2,000 USDT during the open beta test period. The event will calculate the $HTX amount in each pool based on the $HTX price at the start of the day. For instance, if the $HTX price is 0.000002 USDT at 12:00 (UTC) on Day T when the event starts, and the prize pool of the day is 2,000 USDT, then the total $HTX amount for the day would be 1,000,000,000. ● The $HTX amount in the daily prize pool is calculated based on the actual fees generated, order types, and reward ratios. For example, assume the $HTX token price is 0.000002 USDT at the start of the Trade to Earn event at 12:00 (UTC) on Day T, and a participant generates 100 USDT in fees from BTC/USDT trading pair between 12:00 (UTC) on Day T and 11:59 (UTC) on Day T+1, all as Taker orders. Meanwhile, the fees are generated before the depletion of the prize pool on Day T, and the participant's reward limit is not reached. Then the participant's daily reward of $HTX would be: 100 * 102% / 0.000002 = 51,000,000. "Trade to Earn" serves as an innovative model for cryptocurrency trading and empowerment, provides users with broader opportunities to engage in trading and earn profits. As it evolves and refines, this event, with its distinctive mechanism, will draw more engagement, fostering long-term prosperity and stability within the cryptocurrency market. About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/

March 12, 2024 09:17 AM Eastern Daylight Time

New Study Shows Wave of AI Upskilling Among Independent Workers

MBO Partners

In response to the growing demand for AI-skilled talent, a recent study by MBO Partners suggests that employers should turn to independent workers for essential AI expertise. The study highlights that 37% of independent workers are currently incorporating Gen AI into their daily tasks, with a significant 59% using it across various applications. Despite being relatively new, a surprising 74% of independents are already familiar with AI and are planning to enhance their AI adoption and skills. The study reveals a doubling down on AI among independents, with the share of users projected to reach 73% by 2025. According to a Dec 2023 workforce study from Amazon, hiring AI-skilled talent is a priority among 73% of employers—but three out of four who consider it a priority can’t find the AI talent they need. Artificial intelligence is already transforming the workplace—from how businesses operate to how work gets done. With substantial potential to improve operational efficiency, worker productivity, and decision-making, employers said they would be willing to pay higher wages to employees with AI skills and expertise. “As AI becomes table stakes, any enterprise that doesn’t incorporate AI effectively into the business will drastically shrink its competitive footprint,” said Miles Everson, CEO of MBO Partners. “The encouraging aspect is the expansive and burgeoning pool of skilled independents who are not just keeping pace but leading the curve in AI knowledge. On the flip side, independents who fail to position themselves favorably relative to AI will have a more challenging time securing engagements with enterprise clients.” Key findings from MBO’s Exploring New Frontiers: How Independent Workers View and Use Generative AI in 2024 and Beyond reveal: When it Comes to AI, Independents are Fearless, Proactive, and Future-Ready When it comes to embracing AI, independent workers emerge as the fearless, proactive leaders. Only 8% of independents foresee their work facing immediate replacement by AI or ChatGPT in the next five years—a significantly lower percentage compared to the 13% reported by traditional workers. Taking a forward-thinking approach, independents are proactively leveling up on AI skills to deliver increased customer value and reduce the risk of replacement. MBO’s study found that 74% of independent workers showcase familiarity with Gen AI, with 37% already integrating it into their daily tasks. Among this group, 59% leverage Gen AI across diverse applications, enabling them to delegate routine tasks and freeing up valuable time for more intricate, value-driven aspects of their work. This trend underscores the emergence of a substantial pool of experienced, on-demand AI talent within independent workers. As this cohort continues to grow, enterprises have a unique opportunity to harness deep AI-augmented skill sets. Independents use AI as a Small Business Accelerator As small business accelerators, Gen AI is proving to be a transformative tool for independent workers seeking heightened productivity and efficiency. A significant 51% of independents integrating Gen AI into their daily tasks attest to its high utility, with 26% finding it extremely useful and an additional 25% marking it as very useful. Impressively, only 15% deem Gen AI not useful. One on one interviews echo these sentiments, with independent workers consistently highlighting how Gen AI contributes to increased productivity and time savings. Across the board, these workers report substantial productivity improvements ranging from 15% to 30%, aligning seamlessly with broader studies showcasing Gen AI's positive impact on overall business efficiency. In fact, forget hiring extra hands. With the right prompt, generative AI can accomplish tasks in minutes (or seconds) that require hours (or days) for humans to accomplish. The study revealed that independents are using AI for research assistance (39%), a marketing partner (27%) or even an IT administrator (9%). All of these roles are additive rather than sublative, and workers are becoming increasingly adept at using AI as a colleague. The AI Revolution Among Independents is Just Beginning While the independent worker shift towards Gen AI is in its early stages, AI holds big promises for the independent workforce. Looking into 2024 and beyond, the time has come to determine how AI sits in relation to employees and contingent labor. More specialized Gen AI tools and vertical market applications are also quickly becoming available. Most of these Gen AI tools are either free add-ins to existing software applications (Microsoft Office co-pilots, for example), or low cost. Because of this, they are easily accessible to independent workers. This points to a doubling of Gen AI adoption, reaching 73% among independent workers within the next two years. Only 24% of independent workers currently abstain from Gen AI, and almost all current users (97%) plan to continue usage. For more insights and detailed data, visit www.mbopartners.com/state-of-independence/ai-in-the-future-of-work About MBO Partners® MBO Partners is a deep job platform that connects and enables independent professionals and microbusiness owners to do business safely and effectively with enterprise organizations. Its unmatched experience and industry leadership enable it to operate on the forefront of the independent economy and consistently advance the next way of working. For more information, visit mbopartners.com Contact Details Words For Hire Karen Swim +1 586-461-2103 karen@wordsforhirellc.com Company Website https://mbopartners.com

March 12, 2024 09:00 AM Eastern Daylight Time

Nanonets Raises $29M from Accel to create Autonomous AI Agent for back office operations

Nanonets

Nanonets, a leading AI-based workflow automation platform, raised $29 million in a Series B funding round led by Accel. The funding round also saw participation from existing investors Elevation Capital, YCombinator and others. This takes the total funding raised till date to $42M. Over the last 2 years, Nanonets has seen extensive growth in their customer base, with over 34% of the Global Fortune 500 companies having used their AI-based workflow automation platform across Finance, Accounting, Operations and several other business use-cases. Their user base has grown 4x in the last 12 months. "The internet was going to kill paper but businesses today are producing more documents than ever, just in new forms. Email, PDF contracts, whitepapers, etc. There are millions of highly skilled professionals stuck looking for needles in haystacks and entering this data from these documents into different software. Nanonets uses cutting edge AI to automate these different processes. We are taking the most repetitive and mundane office work and automating it” said Sarthak Jain, CEO and Co-Founder of Nanonets. A majority of Nanonets’ revenue comes from automating finance processes such as Accounts Payable, Reconciliation, etc. A typical invoice takes 15 minutes to process manually, with processes such as entering an invoice into the ERP, matching against the purchase order, GL-code lookup followed by approvals; Nanonets brings this down to under a minute. Nanonets’ primary innovation is their ability to guarantee Straight Through Processing (STP), the percentage of data processed without any manual intervention. Other Generative LLMs tend to struggle with STP due to data hallucinations, hindering the large-scale adoption of Autonomous Agents for end-to-end tasks. The Turing test has evolved from humans being unable to differentiate an AI in conversation to humans being unable to differentiate an AI in performing tasks. Nanonets' Autonomous agents excel at performing tasks end-to-end. Additionally, their models, unlike other LLMs, learn instantly from new information, eliminating the need for complex training. Processing millions of documents monthly, Nanonets delivers over 90% STP rate, leading to significant productivity and cost savings. Abhinav Chaturvedi, partner at Accel, said, “We are thrilled to partner with Nanonets in their mission to revolutionize back-office operations with AI. Sarthak and his team have been dedicated to getting to the bottom of customer pain-points, and have built a powerful solution that fully automates business processes end-to-end. Nanonets stood out to us due to its comprehensive platform and its capability for Straight Through Processing (STP)- these qualities set Nanonets apart in the field of automation and have already demonstrated their positive impact to customers." About Nanonets Nanonets is a leading provider of intelligent automation solutions, revolutionizing business processes across industries. With a no-code platform and learnable decision engines, Nanonets enables organizations to make faster decisions and achieve unprecedented efficiency. Founded by Sarthak Jain and Prathamesh Juvatkar in 2017, Nanonets is headquartered in San Francisco. Learn more at https://nanonets.com About Accel Accel is a global venture capital firm that invests in people and their companies from the earliest days through all phases of private company growth. Investing in India for more than a decade, they have been the first, or among the earliest partners to many category-defining startups such as: Acko, Blackbuck, BrowserStack, Chargebee, CultFit, FalconX, Infra.Market, Moglix, Spinny, Swiggy, UrbanCompany, Zetwerk, and others. Accel helps ambitious entrepreneurs build innovative and durable businesses. More at https://www.accel.com/india-home Contact Details Nanonets Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://nanonets.com/

March 12, 2024 09:00 AM Eastern Daylight Time

Image

QuantaSing Group Posts Double-Digit Growth In Revenue, Registered Users In Fiscal Q2 Driven By Growing Demand For Its Senior Courses

QuantaSing

By Meg Flippin, Benzinga QuantaSing Group Ltd. (NASDAQ: QSG), the Chinese online learning service provider, posted double-digit revenue growth in Q2 of fiscal year 2024, buoyed by growing demand for the company’s courses aimed at seniors. For the three months ended December 31, 2023, QuantaSing reported revenue of RMB 980.5 million ($138.1 million), up 24.7% year-over-year. Net income in the quarter was RMB 107.6 million ($15.2 million). That compares to a net loss of RMB 41.4 million in the year-ago fiscal second quarter. The growth seen in the quarterly results was driven by a 44.6% increase in total registered users to 112.4 million from 77.8 million as of December 31, 2022. Paying learners increased 24.2% year-over-year to about 0.4 million. Looking out to the full fiscal year 2024, QuantaSing expects revenue to come in between RMB 900 million to RMB 930 million, representing a year-over-year increase of 11.5% to 15.2%. Capitalizing On The Aging China Population QuantaSing is one of the largest providers of online education for adults in China, focusing on both the learning and personal interest markets. Using cutting-edge technology including livestreaming and artificial intelligence, QuantaSing provides seniors with easy-to-understand, affordable and accessible online courses. It’s capitalizing on the aging population in China, which is growing at such rates the World Bank designated it a “super-aged society.” As of 2023 China had more than 297 million residents aged 60+, accounting for 21.1% of the total population. This group has money to spend and is on a quest to pursue hobbies and continuing education opportunities. It’s one of the reasons why the “silver economy” is valued at around RMB 7 trillion ($982 billion), and is forecast to surge to RMB30 trillion ($4.2 trillion) by 2035, according to China National Radio. “The evolving needs and desires of middle-aged and elderly people in China represent a significant opportunity for us,” Peng Li, Chairman and Chief Executive Officer of QuantaSing, said on a conference call to discuss second-quarter results with investors and analysts. “Last quarter, we saw a solid 24.7% increase in revenue, proving that our strategy to expand our course offerings is paying off. We are seizing the opportunity presented by growing demand for courses made for senior learners.” Livestreaming E-commerce And AI To boost its offering, QuantaSing has poured resources into several initiatives including integrating senior learning with livestreaming e-commerce and leveraging artificial intelligence to meet the strong demand it is seeing. Its livestreaming business, which it launched in June 2023, is initially focused on Chinese liquor. In its fiscal first quarter, QuantaSing’s live e-commerce business generated RMB 41.9 million in Gross Merchandise Value (GMV ). With a specialized team creating apps and AI tools, the company is looking for global opportunities and is adding staff to the team toward that end. QuantaSing plans to open AI offices in Hong Kong and Singapore shortly and is developing its own AI tools. QuantaSing isn’t the only learning platform company going after seniors in China. But it's trying to become the app older adults go to for all their learning. The idea is to become synonymous with senior learning in China similar to what Duolingo Inc. (NYSE: DUOL) did for learning a new language, Khan Academy has done for virtually educating students and Udemy Inc. (NASDAQ: UDMY) has done for business learning. That goal is being aided by the government in China, which recently introduced measures to strengthen the silver economy, such as urging enterprises to enhance their offerings for older adults including revamping apps and websites and creating standards for senior-friendly mobile devices. That will benefit QuantaSing as it should enhance the learning experience for its users from a hardware perspective, Li said during the earnings call. Streamlining Operations In addition to churning out new courses and offerings for seniors, the company is also overhauling how it recruits and retains new learners with an eye toward cutting costs. For instance, it recently upgraded its integrated business management process and now conducts pilot testing before rolling out new classes. It also now enables tutors to more easily manage tasks like one-click class reminders. Those efforts are paying off. The company said course completion rates and overall repurchases have increased. The repurchase rate for its standing mediation course, as one example, has increased to 32.8% in December 2023 from 18.4% in September. The goal is to streamline the operation system across all its courses. “As living standards improve, middle-aged and elderly people seek more than just health or longevity. They want experiences that will provide cultural and intellectual enrichment. Our diverse range of online courses includes many which are tailored to the interests of these demographics,” said QuantaSing’s CEO. “Our platform is dedicated to lifelong learning, and we have always emphasized user engagement and satisfaction. This means we are well equipped to fulfill user desire for intellectual stimulation and personal growth.” Featured photo by Alexander Schimmeck on Unsplash. QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest service provider in China’s online adult learning market and China’s adult personal interest learning market in terms of revenue, according to a report by Frost & Sullivan based on data from 2022. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners, empowering users to pursue personal development. Leveraging its extensive experience in individual online learning services and its robust technology infrastructure, the Company has expanded its services to corporate clients, and diversified its operations into its e-commerce business and its AI and technology business. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Leah Guo ir@quantasing.com Company Website https://ir.quantasing.com/

March 12, 2024 08:45 AM Eastern Daylight Time

Image

1 ... 55 56 57 58 59 ... 606