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USA News Group News Commentary

Issued on behalf of Scope AI Corp.

VANCOUVER, BC, May 2, 2024 /PRNewswire/ — USA News Group News Commentary – According to the International Monetary Fund (IMF), the integration of artificial intelligence (AI) will affect almost 40% of jobs around the world. While still early in the AI revolution, experts are stepping forward to help businesses across a wide variety of industries to embrace it. Analysts at Statista are projecting the Global AI Market will surpass $1.75 trillion by 2030. Now CIOs across multiple sectors are eager to scale their companies’ AI despite current difficulty demonstrating ROI, according to a new survey. Helping to get companies swiftly, safely, and economically on board with AI are a wide variety of tech companies moving things forward with recent developments this past week, including: Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), NVIDIA Corporation (NASDAQ: NVDA), Snowflake Inc. (NYSE: SNOW), CrowdStrike Holdings, Inc. (NASDAQ: CRWD), and Baidu, Inc. (NASDAQ: BIDU).

The article continued: Experts are championing the power of progress in AI integration, as it is already being recognized one of the most significant disruptive technology movements in a generation. This wave of integration requires the right help, the right minds, and discernment. 

SCOPE AI PROVIDES CORPORATE UPDATE

Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) today provided an update on new developments of Scope’s artificial intelligence driven recognition technology called GEM (General Enterprise Machine Learning) system. With the latest advancements to Scope’s proprietary technology, Scope’s focus has broadened in addition to past announced realized technology applications to developing a one-stop web solution for developers and individuals, as well as businesses, large and small, to create, build, and use their own image detection, behavior analysis and neural network systems for their customer business case.

Highlights of Scope’s New Developments

●          Broad based one tool solution for businesses to develop their own artificial intelligence object  detection and visual information system.

●          Application will focus on allowing companies to test how visual variations in creatives and user flows affect performance

●          GEM will allow companies in any industry to harness the power of neural networks for their own unique use cases

●          Beta version of new GEM system expected to launch in late May 2024.

Over the last few months, Scope’s management and technology team have devoted a significant amount of time diversifying the GEM system. The new one-tool-solution for businesses to develop their own object detection and visual information system will be offered through a proprietary platform launch by Scope in the second quarter of 2024. In particular, users will be offered the ability to easily render their own neural networks, annotate datasets and verify the inference improvements through various state of the art analytics tools.

The new GEM Platform comes as a SaaS web-application with advanced user management for administrators or supervisors (CRM), enhanced login and account security, as well as full data encryption built natively into the platform. Scope’s initial target market is the advertising, gaming and health care industries. Businesses of any size can easily onboard and start using the intuitive web-interface to build custom solutions for their respective businesses. An advanced Application Programming Interface (API) will also be made available later this year.

The beta version will allow Scope to determine optimal economics for the product offering as well as an initial industry focus. Currently, Scope is contemplating a recurring revenue subscription fee structure and a pay-as-you-play model on the platform in order to best meet the needs of the client in a flexible way. A final decision on a revenue model will be determined after beta testing.

CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

In other industry developments and happenings in the market this week include:

NVIDIA Corporation (NASDAQ: NVDA), a pioneer in accelerated computing and the global leader in manufacturing GPUs used in AI infrastructure, recently announced the acquisition of GPU orchestration software provider Run:ai, an Israeli startup that promotes efficient cluster resource utilization for AI workloads across shared accelerated computing infrastructure.

AI deployments for customers are becoming more complex, spreading across cloud, edge, and on-premises data centers. To manage tasks like generative AI, recommender systems, and search engines effectively, sophisticated scheduling is needed. This helps improve performance across the overall system and the underlying infrastructure.

NVIDIA targeted Run:ai for its ability to enable enterprise customers to manage and optimize their compute infrastructure, whether on premises, in the cloud, or in hybrid environments. Run:ai comes with a client list that includes some of the world’s largest enterprises across multiple industries, which use the Run:ai platform to manage data-center-scale GPU clusters.

“Run:ai has been a close collaborator with NVIDIA since 2020 and we share a passion for helping our customers make the most of their infrastructure,” said Omri Geller, cofounder and CEO of Run:ai. “We’re thrilled to join NVIDIA and look forward to continuing our journey together.”

Snowflake Inc. (NYSE: SNOW), a leading data cloud company, recently announced Snowflake Arctic, a state-of-the-art large language model (LLM) uniquely designed to be the most open, enterprise-grade LLM on the market. Snowflake Arctic comes with a unique Mixture-of-Experts (MoE) architecture, to deliver top-tier intelligence with unparalleled efficiency at scale, and is optimized for complex enterprise workloads, topping several industry benchmarks across SQL code generation, instruction following, and more. Inside of Snowflake will include NVIDIA NIM with NVIDIA TensorRT-LLM, vLLM, and Hugging Face, and will also be available on Amazon Web Services (AWS).

“This is a watershed moment for Snowflake, with our AI research team innovating at the forefront of AI,” said Sridhar Ramaswamy, CEO of Snowflake. “By delivering industry-leading intelligence and efficiency in a truly open way to the AI community, we are furthering the frontiers of what open source AI can do. Our research with Arctic will significantly enhance our capability to deliver reliable, efficient AI to our customers.”

CrowdStrike Holdings, Inc. (NASDAQ: CRWD), a global cybersecurity leader, recently announced it was named an Overall Leader in the KuppingerCole Leadership Compass, Identity Threat Detection and Response (ITDR) 2024: IAM Meets the SOC. CrowdStrike earned the honors by achieving a Leader position in every category: Product, Innovation, and Market, positioned furthest to the right and highest in Innovation among all vendors evaluated, achieving the overall highest position in the report.

“Adversaries increasingly exploit identities and credentials to ‘log in’ to an environment, move laterally and execute their attacks. ITDR is a critical component of cybersecurity and mitigating risk,” said Raj Rajamani, head of products, CrowdStrike. “By unifying identity and endpoint protection in a single platform, single agent architecture, customers can consolidate point products, drive down costs, and eliminate complexity. Our overall leadership in the report emphasizes our pioneering, platform approach to stop breaches.”

Baidu, Inc. (NASDAQ: BIDU), a leading AI company with a strong internet foundation, recently reached an agreement with Tesla to grant the EV manufacturing giant access to its mapping license for data collection on China’s public roads, according to a report from Reuters. As per the deal, sources say that Baidu will also provide its lane-level navigation to Tesla. In China, any intelligent driving system must secure a mapping qualification to operate on public roads. Foreign companies must collaborate with local partners that hold this license. Baidu is one of about a dozen companies that have obtained this necessary license.

The news of Baidu’s deal with Tesla came just after the announcement of Baidu’s second ERNIE Cup Innovation Challenge, which is open to entrepreneurial teams focused on AI-native applications from around the world.

“In the first ERNIE Cup Innovation Challenge, we received nearly 1000 team registrations,” said Robin Li, Co-founder, Chairman, and CEO of Baidu. “Baidu provided nearly RMB 100 million (US$13.8 million) in investment support to 15 winning teams and continued to provide comprehensive support in technology, team, and resources.”

Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/

 CONTACT:

USA NEWS GROUP
[email protected]
(604) 265-2873

DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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LONDON, May 2, 2024 /PRNewswire/ — ColCap Financial UK Limited (ColCap UK) and Molo Tech Limited (Molo) have successfully completed their first securitisation, ‘Molossus BTL 2024-1’.

The securitisation totals £300 million of prime UK buy-to-let mortgage loans in England and Wales. It is a Residential Mortgage-Backed Security (RMBS) transaction.

ColCap is a leading privately-owned, Australian non-bank lender specialising in residential mortgage loans. Founded in 2006, it has a loan portfolio in excess of AUS $14.0 billion. ColCap invested in Molo, an award-winning digital buy-to-let lender, in February 2023 via its UK subsidiary, ColCap UK.

The diversified pool of underlying mortgage assets has generated significant interest and strong investor demand.

The securitisation received a AAA(sf) rating from global credit rating agencies Fitch and S&P Global Ratings respectively. The ratings were for 87.5% of the pool and the senior tranche was priced at 0.95% over SONIA.

Macquarie Bank and Standard Chartered Bank acted as Joint Arrangers and Macquarie Bank, Standard Chartered Bank, and Citigroup acted as Joint Lead Managers.

ColCap UK’s Treasurer, Paolo Tanca, commented, “This deal represents a significant milestone for us, showcasing our ability to structure and execute successful RMBS transactions in the UK market. We are excited about the opportunities for future growth and expansion.“

Echoing this sentiment, ColCap UK’s Executive Director and COO, Esther Morley added “Today’s successful RMBS announcement demonstrates growing confidence in the UK property market and in the quality of Molo’s buy-to-let portfolio. This strategic move with Molo is the first of many and demonstrates our commitment to innovation. It also marks the beginning of a new chapter for ColCap in the UK market. It sets the stage for further collaborations and growth opportunities, benefiting both our UK operations and our broader global presence, including ColCap Australia.”

Commenting on the achievement from Molo’s perspective, CEO Matt Kimber, stated, “The success of this RMBS highlights the strength of Molo’s mortgage lending capabilities and the credit quality of our originations. It enables us to continue empowering landlords with accessible and innovative lending solutions while reinforcing our position as a leader in the buy-to-let mortgage market.” 

About ColCap

ColCap is a Sydney-headquartered privately owned leading non-bank lender specialising in residential mortgage loans. ColCap was founded in 2006 and currently has a loan portfolio in excess of AUS $14.0 billion.

ColCap lends in Australia and the UK primarily through:

• the Wholesale lending brand Origin Mortgage Management Services, which services Mortgage Managers that offer white-labelled mortgage loans;
• the Broker lending brand Granite Home Loans, which offers selected loan products to borrowers utilising aggregators and mortgage brokers;
• the award-winning Retail lending brand Homestar Finance, which offers mortgage loans directly to borrowers; and
• the digital mortgage lender Molo within the UK market, offering mortgage loans to both UK and non-UK resident borrowers

For further information about ColCap please visit www.colcap.co.uk

About Molo

Molo is an award-winning digital mortgage lender in the UK, established specifically to improve customers’ experience in obtaining a mortgage, leveraging technology to deliver simpler and faster online mortgage lending. Since it launched in 2018, Molo has led change in the UK mortgage industry with over £1.8 billion mortgage applications submitted across their digital platform to date.

Molo is backed by ColCap Financial Limited.

For further information about Molo please visit www.molofinance.com.

Photo – https://mma.prnewswire.com/media/2403898/Paolo_Tanka_ColCap.jpg

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