Artificial Intelligence
NexTech AR To Acquire Work-At-Home Remote Virtual Events Webcasting Software Company
NEW YORK and TORONTO, March 16, 2020 (GLOBE NEWSWIRE) — NexTech AR Solutions (NexTech) (OTCQB: NEXCF) (CSE: NTAR) (FSE: N29), the leader in augmented reality for eCommerce and AR learning applications, is pleased to announce that it has signed a binding LOI to acquire remote video training, live streaming software company Jolokia; whose customers include, Merck, Toyota CBS, Polycom and others. The Jolokia platform generated $1mill USD in SaaS revenue for 2019.
The transaction will be an all stock purchase with an initial payment upon closing of 1 million shares in restricted stock priced at $1 USD ($1.38 CAD) with a 12 month earn out if certain revenue milestones are hit of an additional $4mill in restricted stock. The company is currently conducting its due diligence with an expectation of a closing in the next few.With corporate meetings and events going virtual through online collaboration and web conferencing tools, NexTech has developed a method to seamlessly integrate 3D photo realistic holograms of people and products to these virtual events through its ARitize App. Whether you need to host a full-featured conference, a keynote for a major product announcement, a virtual booth to welcome your partners, investors, and advocates, or remote training sessions, NexTech is able to help you reach the heart of your audience, with our unique AR touch. Try our demonstration video – Click here.
https://vimeo.com/397460871#t=20sPete Mastin, CEO of Jolokia comments, “With the integration of NexTech’s augmented reality holograms, our Inferno platform is well positioned as the world’s most advanced Video Learning Experience Platform (LXP). Combining live broadcasting with Interactive Video, Artificial Intelligence and Holograms, corporations are now able to rapidly deliver immersive, engaging learning experiences anywhere.” He continues, “We are very excited to merge with NexTech AR as we believe the combination of our Inferno Platform with NexTech’s formidable tech stack will create a new generation of Learning & Development products that will gamify the learning experience in a way that has not been seen before.”Evan Gappelberg, CEO of NexTech commented “On January 28th we announced that we had started working with the team at Jolokia to integrate our AR into their Video Learning Experience Platform. The NexTech team quickly cracked the code on the integration of our AR into their platform, creating an enormous opportunity for both companies.” Gappelberg continues “Imagine watching a training video, going to a virtual conference or webinar and being able to take what you are seeing on screen and put it in the room with you as a 3D/AR experience. Having AR seamlessly work in video training, virtual conferences or webinars provides us with competitive differentiation and a very timely addition to our AR omni-channel offerings. With the spread of the Coronavirus all governments, Learning Institutions and Corporations are forcing a huge paradigm shift in society to remote work, training and learning creating massive new demand which should lead to explosive adoption for this platform. We expect to see a big upside in this deal for NexTech shareholders.”With the Global coronavirus pandemic disrupting all large gatherings demand for remote training is surging which will undoubtedly drive awareness and adoption of the company’s video conferencing, live streaming and remote training platform with integrated AR features. Many global companies including Google, Microsoft, Twitter. Hitachi, Apple, Amazon, Chevron, Salesforce and Spotify have rolled out mandatory work-from-home policies amid the spread of Covid-19. The fast-spreading Covid-19, has increased demand for Jolokia’s software as schools close, business travel, conferences and leisure travel are all cancelled and more employees work from home. The work-from-home trend had already started with ZOOM’s (ZM), popularity before the Coronavirus. Now that the Coronavirus has emerged demand has surged which should drive demand for the merged company’s remote-work AR tools which include: AR-virtual conferences, AR-live streaming, AR-webcasting, AR-remote training.Recent Company News in 2020:The Aritize360 “early Access” app to launch in March. The app, once launched, will be a boost to the revenue-generating power of the existing AR eCommerce solution and recently launched 3D/AR advertising platform.
The company achieved $800,000 in revenue for the month of January 2020 and gross profits of $528,000 representing a 66% Gross profit versus a 59% gross profit last month. This is the highest revenue achieved in a single month for NexTech, which represents a 110% increase in revenue and 172% increase in gross profits year over year.
For the month of February of $685,000 and gross profit margin of 66% or $450,000 representing a 184% increase in revenue and 271% increase in gross profits year over year.
The company received an additional 2020 order from Walther Arms, most famous as the manufacturer of James Bond’s Walther PPK.
The company has signed a new contract to provide AR to Steyr Arms, a world-renowned firearms manufacturer. Steyr has been a pioneer and innovator in the firearms industry for over 150 years and now supplies products to over 50 of the world’s militaries.
The company has launched a major enhancement by expanding the platform to serve Apple’s USDZ files alongside the default format GLTF.
The company announced a new partnership with Poplar (www.poplar.studio) that will allow Poplar to leverage NexTech AR’s cutting-edge WebAR technology, and NexTech AR to make use of Poplar’s brand new AR campaign creation platform.About NexTech AR Solutions Corp.NexTech is one of the leaders in the rapidly growing AR industry, estimated to hit $120 billion by 2022, according to Statista. NexTech, the first publicly traded “pure-play” AR company, began trading on the CSE on October 31st, 2018. NexTech has a two-pronged strategy for rapid growth including growth through acquisition of eCommerce businesses and growth of its omni-channel AR SaaS platform called ARitize™.The company is pursuing four multi-billion-dollar verticals in AR.ARitize™ For eCommerce; The company launched its technologically advanced webAR for eCommerce early in 2019 and has been rapidly signing up customers onto its SaaS platform. Customers include Walther Arms, Wright Brothers, Mr. Steak, and Budweiser. NexTech has the first ‘full funnel’ end-to-end eCommerce solution for the AR industry including its 3D product capture, 3D ads for Facebook and Google, ‘Try it on’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’.ARitize™ University; having launched in June 2019, the app-based solution allows companies and educational establishments to leverage all of their existing 2D assets – YouTube videos, PDF documents, PowerPoint decks, images, etc. – and then overlay immersive 3D-AR experiences on top of that content for an interactive training experience that drives productivity.ARitize™ Hollywood Studios; the studio has created a proprietary entertainment venue for which it is producing immersive content using 360 video, and augmented reality as the primary display platform.ARitize™ 3D-AR-360 Advertising Platform: launched in Q1 2020 the ad platform will be the industry’s first end-to-end solution whereby the company will leverage its 3D asset creation into 3D, 360, AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion.To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.nextechar.com.On behalf of the Board of NexTech AR Solutions Corp.
“Evan Gappelberg”
CEO and DirectorFor further information, please contact:Evan Gappelberg
Chief Executive Officer
[email protected] The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of NexTech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. NexTech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/27c2128b-f92d-4900-bb55-5c3e0f484b28
Artificial Intelligence
GEEKOM releases a perfect mini PCs with dual 2.5Gbps Ethernet ports – GEEKOM GT1 MEGA
TAIPEI, Sept. 20, 2024 /PRNewswire/ — GEEKOM, a Taiwanese tech company also known as the Green Mini PC Global Leader, recently released a strong lineup of flagship mini PCs with Intel Core Ultra processors and dual Ethernet ports, making it possible for users to enjoy impeccable performance and superb networking functionalities at the same time.
One of these mini PCs is the GEEKOM GT1 Mega, which employs a beautiful aluminum chassis with plenty of I/O, including two full-function 40Gbps USB4 Type-C, six USB Type-A, 2 HDMI2.0, a 3.5mm audio jack, an SD card reader and dual Ethernet ports. The two Ethernet jacks are both of 2.5Gbps standard, which not only delivers high-speed and reliable internet connection for people’s daily computing chores, but also enables the mini PC to serve more sophisticated networking functionalities as a soft router, a virtual machines, a hardware firewall, or even a home server. Besides, dual Ethernet ports can separate internal and external network connections, providing logical and physical separation of trusted and untrusted network traffic and keeping data safe from potential cyber-attacks.
The GT1 Mega is powered by Intel’s latest and smartest Core™ Ultra processor (up to CoreTM U9-185H) and dual-channel DDR5-5600MHz RAM. Thanks to the new CPU, GPU, and NPU three tier multi-processing architecture, the mini PC is ready to harness the superpowers of Artificial Intelligence. It is compatible with more than 500 AI models across 20+ categories and supports high-performance low-power processing in a wide range of computing scenarios, which include enhancing facial features and blurring the background during video calls, removing the vocals from songs to create karaoke tracks, and generating large-scale images based on texts or voice commands. Basically, the GT1 Mega allows users to finish tasks that used to take hours or even days through only a few keystrokes!
The GEEKOM GT1 Mega,is now available on GEEKOM’s official website.
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SAN FRANCISCO, Sept. 19, 2024 /PRNewswire/ — Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI.
Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations.
Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity’s ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity’s unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include:
Real-Time Fraud Screening: Payments are screened for potential fraud in real time, utilizing Sift’s fraud detection capabilities.Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing.Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity’s Case Management solution.Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites.This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently.
Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.”
Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a ‘fight fire with fire’ approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth.”
About Sift: https://sift.com About Lucinity: https://lucinity.com
Media contact:Celina [email protected] +354 792 4321
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Artificial Intelligence
Employee Background Check Software Market Size to Grow USD 828.8 Million by 2030 at a CAGR of 4.9% | Valuates Reports
BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — Employee Background Check Software Market is Segmented by Type (Cloud-Based, On Premises), by Application (SMEs, Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global Employee Background Check Software Market was valued at USD 587 Million in 2023 and is anticipated to reach USD 828.8 Million by 2030, witnessing a CAGR of 4.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Employee Background Check Software Market:
The employee background check software market is growing due to increasing demands for secure hiring processes and regulatory compliance, especially in industries such as finance, healthcare, and IT. As companies look to reduce risks associated with fraud, legal liabilities, and workplace safety, background checks are becoming a critical part of recruitment processes. The rise of remote work has further accelerated the need for digital solutions. However, challenges include concerns over data privacy and varying legal frameworks across regions, which may slow adoption in some areas.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET:
Cloud-based background check software is gaining traction due to its scalability, remote access, and cost-effectiveness. With cloud-based systems, businesses can streamline their hiring processes, particularly when operating across multiple locations. The ability to access data and conduct checks in real-time is highly valuable for organizations managing large workforces or remote employees. The flexibility and lower upfront investment of cloud-based solutions make them popular among businesses seeking efficient and adaptable systems for their recruitment processes.
On-premises solutions remain important for organizations with strict security and data control requirements, such as those in government, defense, or finance. These companies often need complete ownership of their data, which on-premises software offers, reducing the risk of external breaches. Although it requires significant upfront investment and maintenance, on-premises software provides a high level of customization and security. It’s especially useful for businesses dealing with sensitive information and industries where compliance with local data protection laws is critical.
Large enterprises, particularly those operating in regulated industries like banking and healthcare, are the major adopters of employee background check software. These organizations deal with large volumes of hires, making streamlined background checks essential for compliance and operational efficiency. The ability to integrate background check systems with existing HR tools, such as applicant tracking systems, allows large companies to manage their recruitment processes more effectively. The need for comprehensive and accurate background checks is crucial for mitigating risk and ensuring legal compliance.
The rise in remote working has increased the demand for background check software that allows companies to vet employees regardless of their location. Digital background checks, particularly cloud-based ones, make it easier for organizations to screen remote workers efficiently. This trend is expected to continue as more companies adopt hybrid or fully remote work models, where geographical barriers no longer restrict talent acquisition but require thorough and remote-friendly verification processes.
As regulatory frameworks for employment practices become more stringent globally, businesses are increasingly relying on background check software to ensure compliance. Laws like the General Data Protection Regulation (GDPR) in Europe and the Fair Credit Reporting Act (FCRA) in the U.S. have made it mandatory for companies to conduct background checks within specific legal parameters. This has led to increased demand for software solutions that can automate these processes while maintaining compliance with regional and international laws.
A major trend in the employee background check software market is the integration of these solutions with human resources management systems (HRMS). Integrating background checks with HR software streamlines the hiring process by consolidating background checks, employee records, and onboarding into one system. This improves operational efficiency for businesses, particularly large enterprises that handle significant recruitment volumes. Integration with HRMS allows for real-time updates, making background screening an even more integral part of the hiring process.
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EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET SHARE
North America dominates the market due to stringent employment regulations and widespread adoption across industries. Europe is another key region, driven by GDPR compliance and demand in finance and healthcare. The Asia-Pacific region is experiencing rapid growth due to increasing awareness of the importance of background checks, especially in countries like China and India, where digital hiring platforms are becoming more popular. The market is also expanding in the Middle East and Africa as businesses prioritize secure hiring practices.
Key Companies:
HireRightGoodHireCheckrSterlingHireologyINTELIFIGood EggPeopleG2VitayCertnGlobal HR ResearchVeritable ScreeningXrefZincPaycomADPVICTIGIntelliCorp (Cisive)SpringVerifyAsurintUniversalAssureHireVerified FirstHireSafePurchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-2A10579/Global_Employee_Background_Check_Software
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