Artificial Intelligence
VERB CEO Provides 2019 Business Recap and Outlines Plans for 2020
NEWPORT BEACH, Calif. and SALT LAKE CITY, Jan. 08, 2020 (GLOBE NEWSWIRE) — VERB Technology Company, Inc. (NASDAQ: VERB) (“VERB” or the “Company”), a leader in business-focused interactive video CRM, marketing, and sales enablement SaaS applications, provided the following business update from its CEO, Rory J. Cutaia.
“Transformational is how I would best describe 2019 for VERB,” stated Rory J. Cutaia, VERB CEO. “Our team embraced Jim Collins’ BHAG and ran with it. Here’s what we accomplished in 2019:
- Listed on NASDAQ and rang the Opening Bell.
- Raised more than $20M in our April common stock public offering, and an additional $5M in our August preferred offering.
- Retired all debt, with the exception of approximately $1M of long-term insider non-convertible debt.
- Identified, negotiated and closed an accretive $25M acquisition.
- Integrated combined teams of more than 110 people, in numerous departments, across two states.
- Expanded our application development and design teams.
- Expanded our sales and customer success teams.
- Combined our technology with that of the company we acquired, redesigned and re-architected our newly combined CRM and next-gen sales enablement platform with our interactive video technology, and launched it in the market.
- Launched a new marketing campaign for the new platform, using our own technology, resulting in a rapid increase in sales and new client contracts executed – up 396% in Q3 over Q2.
- Our app is now in use in over 60 countries and in more than 40 languages.
- Clients reported up to 1100% increases in conversion rates and up to 3300% increases in retention rates.
- In just the first 7 months from launch, we garnered more than 12,000 ratings on the Apple App Store and Google Play Store for our new VERB app, white-labelled for clients – 10,500 of which are 5-Star ratings – and 4.9 Stars overall.
- Broke a record for total users on the platform – which to date, we increased to over 937,000 on our way to 1M – up over 100% since last year.
- Developed and introduced the world’s first live broadcast interactive video webinar platform, launching early 2020.
- Launched our LEARN product – part of our new LMS platform and have several enterprise clients that have already signed on.
- Launched our in-app sampling feature which has been a great revenue driver. And we’re about to launch in-app purchase capabilities which will create an entirely new revenue stream from both new and existing customers.
- Had patents issued and filed new patent applications for some of the innovations we’ve developed, including our new interactive video webinar product – to make sure we properly protect our intellectual property.
- Moved our California office from L A and opened our new headquarters in Newport Beach CA.
- Launched a new redesigned website.
- Added 2 new board members, 2 extraordinarily accomplished women, Judith Hammerschmidt and Nancy Heinen. Judith started her career in The United States Department of Justice, where on behalf of the US govt she negotiated treaties and agreements with foreign governments. In private practice in Washington, DC, she represented global companies as they expanded into highly regulated environments. Her client base included: Guess?, Inc., Pfizer Inc., Merck & Co., Inc., and Herbalife International, Inc., whom she ultimately joined as International Vice President and General Counsel of Europe and then Executive Vice President and International Chief Counsel in 1996, where she was responsible for managing all legal matters across 60 countries.
- Nancy Heinen comes to us with more than 25 years’ experience as a senior executive in Silicon Valley, including Senior Vice President, and General Counsel of APPLE. Nancy was recruited by STEVE JOBS personally and spent 16 years as a key member of his core executive team while they turned around Apple’s computer business and launched the iPod, then iTunes, then iPhone, then iPad, then the Apple retail stores.”
Looking Ahead
“Here are just some of the initiatives we have planned for 2020: |
- The power and effectiveness of our interactive video-based CRM platform will continue to dominate the direct sales sector, which is one that we expect will enjoy prolonged, expansive growth as artificial intelligence-based job displacement drives people around the world to pursue careers in sales.
- We intend to expand our foray into affiliate marketing with new clients to be announced as we see this burgeoning sales business model becoming the dominant model for social selling. Our application is perfectly aligned with this fast-growing sales phenomenon and we expect that it will generate the type of impressive results our clients are currently experiencing in the direct sales space.
- Simultaneously, we intend to continue our expansion into other business sectors, including, automotive sales, education, medical/pharmaceutical, CBD, real estate, among other business sectors each of which will benefit greatly from our platform.
- We intend to launch the world’s first interactive video webinar platform that will allow anyone, selling anything, the ability to host a live broadcast in which they can showcase and demonstrate their product and then give all the webinar viewers the ability to click on the screen and purchase the products in real time, right in the video while their interest level is peaked.
- We intend to launch a series of new features and functionality in our CRM platform that will allow us to generate greater revenue per user, not only from new users but immediately from our current 937,000 and growing user base. These features will include in-app purchase capability that our users can subscribe for directly through the app, for behind the pay-wall, sales-driving, affordable features and functionality.
- We intend to execute on our existing partnership agreements with Salesforce and Microsoft, among others, through the launch of our newly designed and enhanced core interactive video sales enablement, lead-gen, and analytics/tracking/reporting application as an upgrade feature within Salesforce and Microsoft products, offered on a revenue share basis, to their respective current and future clients and customers.
- We intend to announce new direct sales back-end software provider partnerships, pursuant to which these partners will offer their current and future clients a tightly integrated, enhanced solution combining their back-end application that tracks affiliate rep sales, payments and genealogy, among other things, with our CRM and sales enablement mobile application.
- We intend to launch a long-planned channel sales initiative, creating an entirely new revenue stream through an extended outside network. We expect this to add substantial leverage to our sales and revenue stream in 2020 and beyond.
We remain focused on creating and delivering long-term, sustained shareholder value, based on strong, underlying business fundamentals, achieved through best-of-class, innovative, SaaS-based sales applications for the new social economy that produce measurable results for our continually growing, satisfied client base.”
About VERB
VERB Technology Company, Inc. (NASDAQ: VERB) is rapidly emerging as the market leader in interactive video-based customer relationship management (“CRM”) sales and marketing applications. With offices in California and Utah, VERB provides next-generation CRM lead generation, sales enablement, and video marketing software applications to sales-based organizations in 60 countries and in 48 languages. The Company’s proprietary and patent-pending technology platform produces real-time, measurable results with some customers reporting greater than 600% increases in conversion rates. The Company’s software-as-a-service (SaaS) products are cloud-based, accessible on all mobile and desktop devices, and are available by subscription for individual and enterprise users. The Company’s technology is integrated into popular ERP, CRM, and marketing platforms, including Oracle NetSuite, Adobe Marketo, and integrations into Salesforce.com, Odoo, and Microsoft, among others that are underway. For more information, please visit: verb.tech.
Forward-Looking and Cautionary Statements
This press release may contain “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In accordance with the safe harbor provisions of this Act, statements contained herein that look forward in time that include everything other than historical information, involve risks and uncertainties that may affect the Company’s actual results. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, and other filings with the U. S. Securities and Exchange Commission (available at www.sec.gov). The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.
Media Contact:
855.250.2300, ext. 107
[email protected]
Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor Relations
949.574.3860
[email protected]
Artificial Intelligence
SUPCON Unveils Groundbreaking Products in June, Including the World’s First UCS
HANGZHOU, China, April 24, 2024 /PRNewswire/ — In June, SUPCON (688777) is poised to launch two groundbreaking products in Singapore: the world’s first UCS (Universal Control System) and TPT (Time-Series Pre-trained Transformer), the first time-series model in the process industry.
UCS, a revolutionary innovation from SUPCON, is set to revolutionize the 50-year-old DCS architecture, promising to eliminate traditional control cabinets.
TPT, as the pioneering time-series model in the process industry, will replace numerous traditional industrial apps and overcome unsolved industrial challenges.
SUPCON, founded in 1999, is a prominent global provider of intelligent manufacturing solutions for process industries. The company is committed to the development and application of AI technology through the integration of advanced products and extensive industry know-how. With a global customer exceeding 30,000, SUPCON’s products address all needs across over 50 countries and regions, encompassing sectors like oil & gas, refinery & petrochemical, chemical, etc. Aiming at high-quality and sustainable development, SUPCON is on the way to facilitate the automation and intelligentization of the global process industry.
In 2023, SUPCON’s core products, the Distributed Control System (DCS) and the Safety Instrumented System (SIS), both claimed the top market share position in China, achieving respective figures of 37.8% and 33.7%. Notably, the DCS has maintained the No.1 position for a consecutive 13th year.
View original content:https://www.prnewswire.co.uk/news-releases/supcon-unveils-groundbreaking-products-in-june-including-the-worlds-first-ucs-302125406.html
Artificial Intelligence
Automation Anywhere Appoints Tim McDonough as Chief Marketing Officer to Drive Global Awareness and Growth for the Leader in AI-Powered Automation
SAN JOSE, Calif., April 23, 2024 /PRNewswire/ — Automation Anywhere, a leader in AI-powered automation solutions, announced that AI marketing leader Tim McDonough joined the company as chief marketing officer (CMO). McDonough, who brings more than two decades of experience in driving growth across startups and Fortune 100 companies, will shape and lead Automation Anywhere’s global brand and growth strategies and go-to-market functions.
McDonough joins Automation Anywhere from Intel, where he recently served as vice president and CMO of AI and data centers. McDonough oversaw the transformation of the $14 billion-plus business unit, while guiding the company’s strategy and positioning in the AI market.
“Tim joins us at an incredible time in our journey as we experience a new phase of growth ignited by the transformative benefits of our generative AI process automation models that are transforming our customers’ businesses,” said Mihir Shukla, CEO, Automation Anywhere. “Tim’s impressive experience will be instrumental in our efforts to empower organizations to achieve amazing results by automating more than forty percent of workflows and tasks, and saving millions, even billions, of dollars.”
Prior to Intel, McDonough held executive roles at leading technology companies, including Unity Technologies, Qualcomm, and Microsoft. McDonough’s track record of enterprise and C-suite marketing spans developed and emerging technologies, including AI tools, applications, software-as-a-service (SaaS) solutions, and developer ecosystems.
“I’m looking forward to helping lead Automation Anywhere through its next phase growth as it helps companies transform their business,” said McDonough. “Seeing how customers are innovating with Automation Anywhere’s platform demonstrated to me the incredible market opportunity we have. When you combine automation with generative AI, customers can now go beyond task or departmental impact and automate at an enterprise level, empowering companies and employees to do their very best work.”
McDonough’s appointment comes at a time of remarkable opportunity for the company, marked by Automation Anywhere’s recent record-breaking fourth-quarter performance, continued profitability, and strong outlook in its current fiscal year. Last quarter, Automation Anywhere reported 50 percent growth in large enterprise deals from the previous quarter, highlighting the company’s momentum and strong market position.
About Automation Anywhere
Automation Anywhere is the leader in AI-powered process automation that puts AI to work across organizations. The company’s Automation Success Platform is powered with generative AI and offers process discovery, RPA, end-to-end process orchestration, document processing, and analytics, with a security and governance-first approach. Automation Anywhere empowers organizations worldwide to unleash productivity gains, drive innovation, improve customer service, and accelerate business growth. The company is guided by its vision to fuel the future of work by unleashing human potential through AI automation. Learn more at http://www.automationanywhere.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/automation-anywhere-appoints-tim-mcdonough-as-chief-marketing-officer-to-drive-global-awareness-and-growth-for-the-leader-in-ai-powered-automation-302125158.html
Artificial Intelligence
AI Supercomputing Market Growing at +21% CAGR as Industries Evolve Data Analysis
USA News Group News Commentary
VANCOUVER, BC, April 23, 2024 /PRNewswire/ — USA News Group News Commentary – Numerous industries are making the shift towards using Artificial Intelligence (AI) supercomputers in leveraging powerful computing systems to address complex challenges, and analyze massive datasets. According to analysts at Markets and Markets the AI supercomputer market is projected to grow at a CAGR of 22% through 2028 to a value of US$3.3 billion. This high level of growth is echoed by analysts at Technavio, who are projecting nearly 21% growth through 2027, however, they are seeing the overall supercomputer market much higher, growing by US$17.6 billion along the way. Several international groups are with massive investments in the billions to evolve their operations to include AI supercomputing, including in Denmark, the UK, Japan, the UAE and the USA. Powering this shift behind the scenes are several tech developers, who this week have been updating the market with their current developments, including: Avant Technologies Inc. (OTC: AVAI), NVIDIA Corporation (NASDAQ: NVDA) (NEO: NVDA), Microsoft Corporation (NASDAQ: MSFT) (NEO: MSFT), D-Wave Quantum Inc. (NYSE: QBTS), and Rigetti Computing, Inc. (NASDAQ: RGTI, RGITW).
The article continued: Moving forward, new regulations and safeguards are being put into place, as seen in the USA when the Biden Administration enacted an AI Executive Order to create new standards for AI safety and security. As well, the Council of the European Union filed a proposal for the regulation of harmonized rules on AI in the EU.
Avant Technologies Launches Advanced AI Supercomputing Network and Expansive Data Solutions
Avant Technologies, Inc. (OTCQB: AVAI) (“Avant” or the “Company”), an artificial intelligence technology (AI) company specializing in the development of advanced AI and data center infrastructure solutions, announced today that it’s introducing a state-of-the-art supercomputing network and comprehensive licensable dataset. Avant will be collaborating with its technology partner, Wired4Tech, to launch these pivotal developments, which are engineered to accelerate AI adoption and innovation across a broad spectrum of industries.
“Avant’s supercomputing network and our expansive licensable dataset will facilitate significant advancements in AI- driven solutions,” said Danny Rittman, Chief Information Officer of Avant of the launch. “By providing robust computational resources and a rich dataset, Avant is set to eliminate many of the technical and financial barriers that have traditionally hampered AI development. This initiative aims to empower developers with the tools necessary to create more sophisticated and efficient AI models, driving progress and innovation in innumerable fields.”
Highlights of Avant’s Offerings:
Versatile AI Dataset: Available from Q3, this dataset will be regularly updated to support a wide array of AI projects, providing a solid foundation for development, and reducing the time to market for AI solutions.Dynamic Resource Scaling: The network dynamically adjusts computing resources to meet real-time demands, maximizing efficiency and minimizing costs.Accelerated AI Processing: Utilizes cutting-edge distributed computing to dramatically reduce data processing times, enabling rapid iteration and deployment of AI models.Robust Security Measures: Top-tier security protocols are in place to ensure data integrity and compliance with stringent regulatory standards.Seamless Integration: Designed to integrate smoothly with existing AI development environments, minimizing disruptions and simplifying technology adoption.Avant is committed to advancing the AI landscape by providing scalable solutions that will benefit diverse sectors looking to harness the power of artificial intelligence.
CONTINUED… Read this and more news for Avant Technologies at: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
In other industry developments and happenings in the market this week include:
NVIDIA Corporation (NASDAQ: NVDA) (NEO: NVDA), a global leader in providing graphics and compute and networking solutions, recently received an investment of ~US$960 million from Japanese telecommunications company Softbank to enhance its supercomputing power and to support an ambitious generative AI (GenAI) strategy.
Generative AI is increasingly being incorporated into products and services across multiple sectors. A recent projection by Statista, a research firm based in Germany, predicts that the market for generative AI in Japan will expand to approximately $13 billion by 2030, representing a 17x increase from its size in 2023.
Microsoft Corporation (NASDAQ: MSFT) (NEO: MSFT), a global leader in developing and supporting software, services, devises and solutions recently announced it would be investing $1.5 billion into Abu Dhabi’s G42, the leading UAE-based AI tech holding company, to accelerate AI development and global expansion.
“Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organizations,” said H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42. “This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally.”
G42 will operate its AI applications and services on Microsoft Azure, collaborating to offer advanced AI solutions to global public sector clients and large enterprises. Together, G42 and Microsoft aim to enhance AI and digital infrastructure across the Middle East, Central Asia, and Africa. This collaboration will help these regions gain fair access to services that address key government and business issues, while upholding the highest standards of security and privacy.
D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services and the world’s first commercial supplier of quantum computers recently announced the launch the first fast-anneal feature, available now on all of D-Wave’s quantum processing units (QPUs) in the LeapTM real-time quantum cloud service. The fast-anneal feature has been central to D-Wave’s key research achievements, as highlighted in publications in Nature Physics and Nature, showing how annealing quantum computing outperforms traditional algorithms in tackling complex optimization problems.
“Providing direct access to Fast Anneal, which has been at the heart of D-Wave’s recent advancements, represents a significant step forward in our mission to provide customers with the resources they need to drive innovation and achieve extraordinary results,” said Dr. Alan Baratz, CEO of D-Wave. “We believe it will further empower them to build industry-shaping applications with the most powerful quantum computing environment available today.”
With enhanced control allowing for notably quicker annealing times than before, this feature enables customers to replicate and expand upon D-Wave’s significant optimization results. Now widely available, this feature allows users to execute quantum computations at unprecedented speeds, significantly mitigating issues like thermal fluctuations and noise that typically disrupt quantum calculations.
Rigetti Computing, Inc. (NASDAQ: RGTI, RGITW), a pioneer in full-stack quantum-classical computing, recently announced the successful completion of its Innovate UK project with Oxford Instruments to launch one of the first UK-based quantum computers. The consortium also included the Quantum Software Lab at the University of Edinburgh, Phasecraft, and Standard Chartered Bank, with financial backing from the UK government’s Quantum Technologies Challenge, led by UK Research & Innovation (UKRI).
“Completing this project, with the end result being a useful 32-qubit quantum computer, is an exceptional achievement for all of the project partners,” said Dr. Subodh Kulkarni, CEO of Rigetti. “It takes a world-class team to build and deploy a quantum computer. The UK has become a world leader in quantum computing technologies, and we are excited to continue to contribute to its quantum computing capabilities. Additionally, Rigetti plans to leverage this experience to continue to develop our UK quantum computing leadership as we embark on deploying a 24-qubit Ankaa-class quantum computer at the NQCC’s Harwell campus.”
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
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View original content:https://www.prnewswire.co.uk/news-releases/ai-supercomputing-market-growing-at-21-cagr-as-industries-evolve-data-analysis-302124990.html
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