USA News Group Commentary
Issued on behalf of Scope AI Corp.

VANCOUVER, BC, May 16, 2024 /PRNewswire/ — USA News Group – According to International Monetary Fund (IMF) Managing Director Kristalina Geogieva, the emergence of artificial intelligence (AI) is hitting the global labor force “like a tsunami”. Her comments came at an event in Zurich this week, organized by the Swiss Institute of International Studies, where she stated AI is likely to impact 60% of jobs in advanced economies, and 40% of jobs around the world. The remarks came shortly after the release of a new report from and LinkedIn, which not only stated that use of AI has nearly doubled in just 6 months, but also that 75% of global knowledge workers are now using AI tools in their day-to-day work. The advantages of AI for both workplaces and businesses are rapidly multiplying, thanks to recent strides made by developers, including from Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Oracle Corporation (NYSE: ORCL), SAP SE (NYSE: SAP), Apple Inc. (NASDAQ: AAPL), and Alphabet Inc. (NASDAQ: GOOG, GOOGL).

Amidst the rapid advancements of deep machine learning technology across various sectors, Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has undergone a transformation in its branding and market focus. The company now directs its proprietary technology, GEM (General Enterprise Machine Learning), towards industries such as advertising, gaming, and neural networks. With this innovative platform, businesses can develop their own object detection and visual information systems, harnessing the full capabilities of neural networks. These proposed strategic moves by Scope AI are reshaping how companies approach advertising customization, gaming enhancement, and the utilization of neural networks in a multitude of applications.

In a recent update, Scope AI unveiled upgrades to its GEM platform, aimed at providing enhanced services to advertising agencies and the gaming sector. These improvements empower GEM to fine-tune advertising content and enrich gameplay experiences through advanced neural network functionalities. Furthermore, the updates strengthen the platform’s object visual recognition, empowering businesses to glean deeper insights and deploy more precise solutions. With these augmented object detection and visual information systems, advertisers gain improved capabilities to analyze consumer behavior and refine campaigns, while game developers can craft more immersive and captivating user interactions.

“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure,” said Sean Prescott, Founder and Non-Executive Chairman of Scope. “The next generation of our platform will set us apart in what kind of data and its sensitivity we can process and store. It’s a potential game-changer for the industry.”

GEM boasts a user-friendly web interface, empowering developers, meticulous users, entrepreneurs, and large enterprises to effortlessly establish advanced object detection systems or craft ground-breaking, real-time neural network models.

Scope AI is confident that the recent upgrades to their GEM platform will deliver substantial benefits to the advertising and gaming sectors, ushering in novel capabilities and profound insights. With a focus on advertising, Scope emphasizes GEM’s visual recognition technology, facilitating the creation of highly targeted and captivating advertisements. This functionality optimizes ad spend efficiency and elevates customer engagement to unprecedented heights.

In the realm of gaming, Scope envisions its GEM platform as a transformative force, enriching player experiences by tailoring gameplay and recommendations through neural network analyses of player behavior. This cutting-edge technology empowers developers with invaluable insights to refine game design, enhance player retention rates, and unlock untapped revenue streams.

Not sitting back in the AI race, Oracle Corporation (NYSE: ORCL) recently announced it will expand its research and development (R&D) capabilities in the country of Morocco, by growing its local workforce to 1,000 information technology (IT) professionals. The tech giant quickly followed up the announcement, by being named as a Leader in the 2024 Gartner Magic Quadrant^TM for Warehouse Management Systems, for the ninth year in a row. 

“Fast-changing market conditions and increasing customer demand puts added pressure on organizations’ warehouse, inventory, and fulfillment processes,” said Srini Rajagopal, vice president of logistics product strategy, Oracle. “We believe our position as a Leader in this report is an acknowledgement of our robust product capabilities, investment in innovation, and most importantly the success of our customers.”

Looking to drive further growth and competitive advantage in its sector, and to ensure the sustainability of its products for the future, Charoen Pokphand Foods (CP Foods) recently selected SAP SE (NYSE: SAP) to provide multiple solutions. Among these, CP Foods will be employing SAP’s RISE with SAP, SAP Sustainability Footprint Management, and SAP Sustainability Control Tower Solutions.

CP Foods serves more than 4 billion people globally, and is a leading integrated agro-indsutrial and food business that is one of the world’s largest producers of feed, shrimp, poultry, and pork, with operations in 17 countries and exports to more than 50 countries. The move with SAP reflects CP Foods’ goal of becoming the “Sustainable Kitchen of the World”, and to realize its Net Zero goals by 2050.

“Sustainability is a huge opportunity for businesses across Asia,” said Paul Marriott, President of SAP Asia Pacific & Japan. “Using RISE with SAP and our sustainability solutions, CP Foods is getting ahead of forthcoming emissions regulation and future-proofing its business by using data to make more sustainable decisions. It can use those insights to drive more operational efficiencies, optimize supply chains, and differentiate its business against competitors.”

Having been accused of lagging in the AI race, Apple Inc. (NASDAQ: AAPL) has been making several strides as of late, including taking music-making to the next level with its all-new Logic Pro for iPad and Logic Pro for Mac 11 offering, delivering breakthrough professional experiences for songwriting, beat-making, producing, and mixing.

The new Logic Pro comes powered by AI, introducing incredible studio assistant features that augment the music-making process and provide artists help right when they need it.

“Logic Pro gives creatives everything they need to write, produce, and mix a great song, and our latest features take that creativity to a whole new level,” said Brent Chiu-Watson, Apple’s senior director of Apps Worldwide Product Marketing. “Logic Pro’s new AI-backed updates, combined with the unparalleled performance of iPad, Mac, and M-series Apple silicon, provide creative pros with the best music creation experience in the industry.”

Google’s parent company Alphabet Inc. (NASDAQ: GOOG, GOOGL) recently showed off its astonishing vision for how AI will work with its popular Gmail and Photos platforms. During a keynote speech at its annual Google I/O developer conference, Google CEO Sundar Pichai kicked off the event highlighting various new features powered by its latest AI model Gemini 1.5 Pro. One of the new features, called Ask Photos, allows users to search photos for deeper insights, such as asking when your daughter learned to swim or recall what your license plate number is, just by looking through saved photos.

As well, Google unveiled perhaps the most intriguing offering, dubbed Project Astra. It’s what the company is calling an “advanced seeing and talking responsive agent”, and what some are calling an amped-up version of Google Lens. Google is making all kinds of moves in AI that has the market buzzing, even redesigning its own market-leading search engine, using AI all the way down the line.

“What we see with generative AI is that Google can do more of the searching for you,” says Liz Reid, Google’s newly installed head of Search. “It can take a bunch of the hard work out of searching, so you can focus on the parts you want to do to get things done, or on the parts of exploring that you find exciting.”

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

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SHANGHAI, May 16, 2024 /PRNewswire/ — SANY Heavy Industry (“SANY” or “the Company”; SSE: 600031), a leading heavy machinery manufacturer, has reported a strong growth in international revenues in its recently announced annual results for 2023.

The Company reported RMB 74.02 billion (US$10.43 billion) in total revenues for the year 2023, down 8.44% year-on-year. Despite a challenging market, the decrease in revenue showed a narrowing decline of 15.92 percentage points compared to the previous year’s changes.

SANY’s net profit totaled RMB 4.6 billion (US$648.74 million) in 2023, posting a 4.16% year-on-year expansion. Its net cash flows from operating activities surged by 39.20% to reach RMB 5.7 billion (US$803.87 million).

The year 2023 was pivotal for SANY as its international business flourished. In 2023, the Company recorded RMB 43.3 billion (US$6.1 billion) in international business revenues, marking an 18% year-on-year increase and accounting for nearly 60% of its main business revenues.

Such significant growth highlights SANY’s successful transition to a multinational engineering machinery conglomerate, with its sales spanning over 180 countries and regions. The sales revenues in Asia and Australia amounted to RMB 16.5 billion (US$2.32 billion), up 11.1% year-on-year, while the European region generated RMB 16.25 billion (US$2.3 billion), a substantial growth of 37.97%. The American market brought in RMB 7.58 billion (US$1 billion), rising 6.82%, and the African region contributed RMB 2.92 billion (US$411.8 million), up by 2.56%.

“SANY boasts a vibrant overseas market, top-tier partners, and an energetic local team,” said Xiang Wenbo, chairman of SANY Heavy Industry. “Looking ahead this year, we remain committed to our ‘Globalization, Digitalization and Decarbonization’ strategy, as we continue to work with global partners to explore green development.”

SANY’s financial performance in 2023 demonstrated substantial improvements, with a notable increase in gross profit margin to 27.71%, up by 3.67 percentage points from the previous year, exceeding the industry median. Additionally, net profit attributable to shareholders rose to RMB 4.52 billion (US$637.4 million), a 5.53% year-on-year increase, and adjusted net profit after non-recurring items surged by 40.35% to RMB 4.38 billion (US$617.7 million). While the main gross profit margin and net profit margin grew, the Company also drove its operation growth. In terms of product lines, excavating machinery, lifting machinery and road machinery performed strongly during the reporting period. In addition, electric products realized revenues of RMB 3.146 billion (US$449.4 million) and hydrogen energy products realized revenues of RMB 130 million (US$18.6 million).

For more information about SANY Group, please visit http://www.sanyglobal.com or follow us on Facebook or YouTube.

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Powered by Finastra Phoenix and Digital Banking, plus an expanded suite of solutions, the bank will enhance its user experience for both businesses and consumers  

LAKE MARY, Fla., May 16, 2024 /PRNewswire/ — Finastra today announced that Cache Valley Bank, a community bank with $2.9 billion in assets serving Utah and Southern Idaho, has expanded its collaboration with the financial software provider, gaining increased flexibility and agility through its cloud-based solutions. The bank will leverage Finastra Phoenix for its core, Finastra Digital Banking for consumer and business mobile banking, and a suite of ancillary solutions to enhance its operations and future-proof its technology stack.

Cache Valley Bank expanded its relationship with Finastra to modernize its core banking infrastructure and to reinvent its business with cutting-edge abilities and increased efficiencies across its operations. The bank is enhancing its Finastra core solution while replacing its digital banking infrastructure with Finastra’s robust end-user engagement platform, making it well-positioned to quickly and efficiently adapt to emerging opportunities and to better deliver an enhanced user experience for businesses and consumers across the markets it serves.

When the bank recognized that its legacy digital banking solution could not offer the enhanced customer experience it wanted to deliver, it chose Finastra for its underlying technology, flexibility, and ecosystem. “For more than two decades, we have worked with Finastra to power our bank through their innovative, thoughtful, and efficient solutions,” said Mike Lemon, chief financial officer at Cache Valley Bank. “When it came time to seek a new partner for our digital banking needs, we knew it made sense to expand our relationship with Finastra, as they offer the experience, stability, and access to innovation we need to deliver an enhanced customer experience.”

The bank has a strategic vision to migrate all on-premises software to the cloud over time. Finastra Phoenix and Digital Banking support this goal and are designed to seamlessly migrate to the cloud, enabling the optimization of back-office resources and architecture. This shift will allow the bank to focus on its other priorities, such as the customer experience, more closely.

“To enable future growth, Cache Valley Bank needed an intuitive and user-friendly tech stack powered by the latest innovations in financial services,” said Swathy Parthasarathy, chief operating officer, Universal Banking at Finastra. “Our core solution, digital banking, and our overall suite of services give the bank the agility and innovative capabilities needed to continue to be a leader in the market, grow its footprint, and increase efficiencies. We’re honored to be a part of their growth journey.”

Recognizing the importance of applying data to inform decision-making, the bank has added Finastra’s Fusion Analytics business analytics tool as well. The solution helps community banks gather and aggregate their customers’ current relationships, behaviors, and lifestyle attributes to identify opportunities for growth and profitability.

As part of the bank’s migration to its new suite of services, it also benefits from access to Finastra’s fintech ecosystem, leveraging partners such as Glia, a digital automation platform offering enhanced customer service. The bank additionally will implement Enterprise Content Management, Item Processing, and Rapid Wires from Finastra’s suite of ancillary solutions.

About Finastra

Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017. It serves institutions of all sizes, providing award-winning software solutions and services across Lending, Payments, Treasury & Capital Markets and Universal Banking (Retail, Digital and Commercial Banking) for banks to support direct banking relationships and grow through indirect channels, such as embedded finance and Banking as a Service. Its pioneering approach and commitment to open finance and collaboration is why it is trusted by over 8,000 institutions, including 45 of the world’s top 50 banks.

For more information, visit finastra.com

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