Artificial Intelligence
U.S. Enterprises Rapidly Move Critical Workloads to the Hybrid Cloud, but Seek Assistance
STAMFORD, Conn., July 15, 2020 (GLOBE NEWSWIRE) — Many U.S. enterprises are rapidly moving critical workloads to hybrid cloud environments to ensure business continuity during the COVID-19 pandemic, and they are looking to managed services providers to help them get the best value from their cloud investments, according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.The 2020 ISG Provider Lens™ Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions Report for the U.S. finds many enterprises are delaying or cutting IT spending in the short term, due to the COVID-19 pandemic. But spending on cloud-based as-a-service solutions in the U.S. is expected to be up 12 percent by the end of the year.Enterprises adopting the hybrid cloud model have generally been able to weather the pandemic, the report says. “Hybrid clouds give enterprises the flexibility they need to address several challenges, such as business continuity and the running of critical operations in a secure environment,” said Jan Erik Aase, director and global leader, ISG Provider Lens Research. “Hybrid cloud is proving to be a crucial factor in the success of work-from-home scenarios.”In their move to a hybrid cloud model, many U.S. enterprises are focused on storing sensitive and valuable data on private clouds. But after the COVID-19 pandemic subsides, enterprises should engage with managed services providers to avoid high capital expenditures and bills from cloud providers, the report recommends. Providers can help CIOs and CTOs with concerns about downtime and with managing their shrinking IT budgets.The report also sees U.S. enterprises moving to the hybrid cloud model to deal with the explosive growth in the amount of data they are generating. These large volumes of data must be stored and managed in a secure environment, creating a major challenge for businesses. Some cloud providers are exploring new technologies, including data thinning and faster data transfers, to assist customers with data volume issues.Providers also are rolling out solutions that leverage artificial intelligence-based cognitive capabilities or machine learning tools to speed up service delivery, increase IT efficiency and deliver a superior user experience, the report says. Some cloud providers have developed tools that predict downtime and take self-healing measures. AI for IT operations, or AIOps, can monitor elements of an entire hybrid environment and provide predictive analytics for incident management.The report also notes the managed hosting market is rebounding from a recent trend of losing relevance. Managed hosting can help customers address issues related to auditing data location, migrating software licenses to the public cloud and managing the capacity and cost of hyperconverged systems.The report also sees a major shortage of talent in the data center industry, driven by an aging workforce. It finds a rise in demand for secure data centers, as the need for enhanced security grows with the increased adoption of virtualization and cloud-based services.Finally, the report predicts edge data centers as the next big thing in the industry. Edge solutions are designed to complement data center and cloud services, and by bringing data collection closer to the network edge for processing, edge centers can drastically reduce latency and increase responsiveness.The 2020 ISG Provider Lens™ Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions Report for the U.S. evaluates the capabilities of 79 providers across six quadrants: Managed Services for Large Accounts, Managed Services for the Midmarket, Managed Hosting, Colocation Services, Data Center Security Products and Hyperconverged Systems.The report names IBM as a leader in three quadrants, and Capgemini, Cisco, Ensono and Rackspace Technology as leaders in two. Accenture, Broadcom/Symantec, Check Point, Cognizant, Coresite, CyrusOne, Cyxtera, Dell EMC, Digital Realty, DXC Technology, Equinix, Fujitsu, HCL, Hexaware, HPE, Infosys, Mphasis, NTT, Nutanix, Palo Alto Networks, Sungard AS, TCS, Trend Micro, VMware, Wipro, Zayo and Zensar are all named leaders in one quadrant.A customized version of the report is available from Hexaware.The 2020 ISG Provider Lens™ Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions Report for the U.S. is available to subscribers or for one-time purchase on this webpage.About ISG Provider Lens™ ResearchThe ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG’s global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG’s enterprise clients. The research currently covers providers offering their services globally, across Europe and Latin America, as well as in the U.S., Germany, the U.K., France, the Nordics, Brazil and Australia/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.The series is a complement to the ISG Provider Lens Archetype reports, which offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.Starting this year, each ISG Provider Lens™ study will include a Global Summary to help enterprise subscribers better understand provider capabilities across all geographic markets covered by that study. All ISG Provider Lens™ reports also will now include an Enterprise Context feature to help executives quickly identify key insights related to their roles and responsibilities.About ISG ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.# # #Will Thoretz
Information Services Group, Inc. +1 203 517 3119
[email protected] Jim Baptiste
Matter Communications for ISG
+1 978 518 4527
[email protected]
Artificial Intelligence
Bravent, Microsoft’s Technology Consulting Partner, Expands into Northern Europe
DUBLIN, May 2, 2024 /PRNewswire/ — The technology consulting firm Bravent, a leader in Microsoft solutions and artificial intelligence, announces its expansion into Northern Europe. This strategic move is part of the Spanish firm’s ongoing effort to extend its expertise in innovation internationally, supporting companies towards digital transformation.
As a Microsoft partner, Bravent consistently provides cutting-edge technology solutions that enable companies to maximize efficiency, improve productivity and achieve digitalization. The expansion into Northern Europe represents a milestone in Bravent’s history, marking a new chapter in its bid to consolidate its innovation leadership.
“Expanding our presence to Northern Europe aligns with our vision to bring state-of-the-art AI solutions and Microsoft expertise to businesses in this region,” said José Luis Carrascosa, CEO of Bravent, who expressed his enthusiasm to “contribute to the technology growth and innovation landscape in Northern Europe with our robust solutions and experienced team.”
Bravent’s expansion in Northern Europe will be led by Mark McCrory, who joins the firm as a partner and regional leader. Mark joins Bravent from Microsoft, where for the past 20 years he has held regional leadership positions within the Consulting Services division, most recently as COO for Microsoft Denmark. Mark has an extensive track record of working with enterprise customers to help them realize value from their Microsoft Cloud investments, experience that he will now bring to Bravent’s customers in this region.
Bravent’s decision to begin operations in Northern Europe is the result of a detailed analysis of regional technology needs and the market dynamics themselves. The company is committed to contributing to local economies and fostering relationships with regional businesses to tailor solutions that respond to their challenges and opportunities.
With this expansion, Bravent will introduce Northern Europe to its range of services, including artificial intelligence integration, cloud computing solutions and enterprise software development, all designed to leverage the technological power of Microsoft. Bravent plans to establish local offices and hire regional talent, ensuring that its solutions are both globally informed and locally tailored.
About Bravent
Bravent is a Microsoft technology consulting firm specializing in advanced artificial intelligence solutions and digital transformation strategies. With a proven track record of success and innovation, Bravent supports businesses around the globe in harnessing the power of technology to thrive in an ever-evolving digital landscape.
For more information, please visit https://www.bravent.net/en/).
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Artificial Intelligence
CIN7 ACQUIRES AI FORECASTING COMPANY INVENTORO, PAVING THE WAY FOR NEXT-LEVEL INTELLIGENT COMMERCE
Leading inventory and order management software invests in growth, new AI capabilities on the heels of new CEO appointment
DENVER, May 2, 2024 /PRNewswire/ — Cin7, the industry-leading inventory and order management software provider, today announced the acquisition of Inventoro, a leading provider of AI-driven sales forecasting and replenishment optimization solutions. The acquisition and integration of Inventoro’s capabilities with Cin7’s platform will extend product seller’s access to state-of-the-art AI technology, enabling customers to enhance existing inventory and order management capabilities with intelligent prediction and optimization.
Overstocking and similar inefficiencies are estimated to drive $163B in losses each year for global product sellers. The combined power of Inventoro and Cin7 can change that. Inventoro’s innovative AI-powered forecasting technology accurately predicts future product demand, providing daily updates on key optimization performance and insights on which products drive profits. Together with Cin7’s end-to-end inventory management software, sellers will gain invaluable visibility into their product availability and inventory capital.
Powered by a proprietary AI engine, sellers can forecast demand with unmatched accuracy months in advance, maintaining optimal stock levels and eliminating overages. This allows sellers to make fast, impactful decisions – enabling both short and long term forecasting that translates insight into action. Not only does this help achieve over 99% product availability, it also frees up to 20% of inventory capital and saves valuable time through automated, streamlined operations.
“Inventoro’s AI forecasting and optimization capabilities are a perfect complement to Cin7’s robust inventory management solutions,” said Ajoy Krishnamoorthy, Cin7’s CEO. “The actionable insights and increased visibility into performance provided by the combined capabilities help customers optimize performance across channels and minimize impacts from overstocking and stock outs. By combining Cin7’s inventory management platform and the power of Inventoro’s AI-powered forecasting, the future of inventory intelligence is here.”
“From the moment we first partnered with Cin7, it was clear our companies were aligned in a mission to empower small and medium product sellers and manufacturers. By combining Cin7’s powerful inventory management platform with Inventoro’s advanced AI forecasting and optimization capabilities, we’re first to market with a solution that provides end-to-end visibility and control, reduces waste, and ultimately helps SMB’s thrive,” said Tomas Formanek, Inventoro’s founder and CEO.
This announcement comes at the dawn of a new phase of growth for Cin7, marked by the recent appointments of Ajoy Krishnamoorthy to Chief Executive Officer and Nolan Smith to President and Chief Operating Officer.
About Cin7Cin7 provides Connected Inventory Performance – cloud-based inventory management software that gives growing product businesses an automated and real-time view of the entire inventory lifecycle. Cin7’s products, Core and Omni, natively integrate with over 700+ applications, so business owners can consolidate, streamline, automate, and scale their inventory operation from one place. Founded in 2012, Cin7 has grown into a global force, supporting product sellers in 100+ countries, serving 8,000+ customers and processing over 125 million orders annually.
About InventoroInventoro is revolutionizing the way small and medium-sized businesses manage their inventory. With its cutting-edge algorithmic sales forecasting, businesses can finally achieve optimal stock levels and say goodbye to stock outs and overstock. Inventoro’s system is powered by advanced mathematics and artificial intelligence, which means it can learn and adapt to unique business needs, to achieve unprecedented forecast accuracy. Founded in 2020 as a SaaS service and built upon two decades of technological innovation.
Media ContactLindsay Mahaney [email protected]
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Artificial Intelligence
Potential secures additional $2M to drive AI-powered terrain perception technologies to market
The seed fund extension will underpin innovation programs with global automotive manufacturers as momentum builds toward production-scale deployment.
$2M CAD seed round extensionRound includes returning partners Brightspark Ventures, Build Ventures and NBIF, joined by Farpointe. Existing backers include Marc Benioff’s TIME VenturesFunds will support new and ongoing innovation projects with automotive OEMsTerrain Intelligence, the company’s core technology, solves safety and performance problems both off and on roadFREDERICTON, NB, May 2, 2024 /PRNewswire/ — Potential (Potential Motors Inc), a Canadian automotive technology company developing advanced driver assistance systems for off-road environments, has today announced that it has raised $2M CAD in a successful seed round extension. This builds on two previous seed round commitments, for a total of $8.5M raised since May 2020.
Investors in the extension include returning partners Brightspark Ventures, Build Ventures and NBIF (the New Brunswick Innovation Foundation), with Farpointe joining for the first time. They join existing investors, including Marc Benioff’s TIME Ventures.
The latest funding will be used to drive commercialization of Potential’s AI-powered perception solutions in automotive, powersports, mining and defense sectors, following years of intensive R&D.
Potential has already partnered with a major manufacturer of recreational off-road vehicles (CFMOTO Powersports Inc) and delivered its first innovation project for a global automotive brand. The company has another pilot project in the automotive sector underway in Q2, with further projects at scoping stage.
Potential’s core technology is branded Terrain Intelligence. This software platform uses forward-facing sensors (such as cameras) to interpret terrain shape, incline gradient, surface type, obstacles and more. The platform can deliver multiple outputs, from presenting data to drivers all the way through to self-selecting vehicle control adjustments such as drive mode, suspension and differential settings, torque levels and more.
Unlike today’s driver assistance systems, which rely on reactive technologies, Potential enables proactive control in advance of reaching hazards.
Sam Poirier, CEO at Potential: “Potential’s expertise in off-road terrain, computer vision and AI will make vehicles safer, faster, more agile and more comfortable in extreme environments. Our solutions can improve outcomes on the road too, so our technology could be used in all sorts of vehicles. I’m pleased to welcome back existing partners as well as new investors at this critical milestone in our journey.”
Mark Skapinker, Managing Partner at Brightspark Ventures: “When we first invested in Potential, we were excited by Sam’s vision of a future where AI and terrain perception technologies play key roles in performance, safety and efficiency. By renewing our investment, we’re also renewing our vote of confidence in Sam’s leadership and Potential’s technology.”
Jeff White, CEO at NBIF: “Sam has already built an impressive team and successful pilots; our new funding commitment demonstrates the continued confidence we have in Sam’s vision and Potential’s opportunities.”
About PotentialPotential (Potential Motors Inc.) is an automotive technology company designing the future of advanced driver-assistance systems for off-road and extreme environments, combining computer vision and AI to read the path ahead.
www.potentialmotors.com
Press contact: Jay Nickerson, [email protected]
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