Artificial Intelligence
Grieg Seafood ASA: Q2 2020 results – Stable volume and cost in turbulent market
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Highlights
Covid-19
The Covid-19 pandemic continued to impact the market situation also in the second quarter. The escalation of the pandemic and measurements taken by governments around the world to address the situation, have caused uncertainties for producers, processors and end consumers. Nevertheless, despite the challenging circumstances, demand for Atlantic salmon remained strong and Grieg Seafood has been able to maintain efficient operations throughout the quarter.
Financial results
The Grieg Seafood Group harvested 23 910 tonnes GWT in Q2 2019, compared to 21 802 tonnes in Q2 2019.
Average realized price during the quarter was down compared to the second quarter last year, mainly driven by lower market price impacted by market turbulence related to Covid-19, in addition to lower prices achieved on downgraded volumes in Finnmark. The reduction is partly offset by the 10% higher harvest volume. Total revenues during the quarter amounted to NOK 1.4 billion, down from NOK 1.5 billion in the second quarter of 2019.
Farming cost during the quarter increased from the same quarter last year. The increase is mainly related to negative currency effects and increased cost per kilo in Rogaland due to lower harvest volume.
Group’s EBIT before fair value adjustment of biological assets ended at NOK 3 million during the quarter, down from NOK 302 million in the second quarter of 2019, where reduced prices and increased costs amounts to some NOK 211 million and NOK 95 million of the decrease respectively.
Commenting on the Group’s performance, CEO Andreas Kvame, said:
“The second quarter of 2020 was impacted by the continuous effect of the Covid-19 pandemic. Thanks to our fantastic employees, I am proud to state that Grieg Seafood has been able to maintain efficient operations throughout the quarter. Employee safety and wellbeing is our priority, and we have kept in place all HSE measures implemented at the beginning of the pandemic to reduce the risk of Covid-19 outbreaks as much as possible. We have particularly seen disruptions in the US market due to Covid-19, which is mainly supplied by our British Columbia region. However, lower prices in the US have been matched by improved biology, lower costs and increased competitiveness in BC.
In Finnmark and Rogaland, the underlying biology remains strong. However, due to low seawater temperatures during the winter and spring, we have experienced reduced growth in Finnmark. Based on this external factor in combination with expectations of low market prices in the short term, we have decided to optimize production, utilize our existing licenses and postpone some harvest to 2021.
In Shetland, cost has remained high during the quarter, due to few synergies between our operations on the Shetland isles and Skye in Scotland.
In our new Newfoundland region, the first eggs were put into the hatchery in July, according to schedule. First harvest is expected in 2022/23.
While we are in the middle of a pandemic, we have not set our commitments to sustainability on hold. Reducing our environmental footprint and improving fish welfare are key factors to achieve our financial and operational targets. Over the last months, we received ASC certification on two new sites, and we strengthened our greenhouse gas reduction target. With Brazilian soy in our feed, we are also concerned about the increasing deforestation rates in the country. We are committed to use our market power to push towards an end to soy-related deforestation where we source soy, the Brazilian Cerrado biome.” Strategic priorities
Improving sustainability is key to increasing our profits. By focusing on reducing our environmental impact and improving fish welfare, we aim to increase harvest rates and reduce production cost.
We aim to provide our shareholders with a competitive return on capital invested and have set a ROCE target of 12%. Our investments reflect our growth strategy: digitalization, post-smolt, biosecurity and fish welfare, including continuous evaluation of expansion opportunities
Digitalization in salmon farming includes applying advanced sensors, big data, artificial intelligence and automation, to support better farming decisions. Post smolt improves biosecurity, survival rates and allows for a more efficient farming cycle, while expansion opportunities will allow for improved flexibility, biosecurity and fish welfare.
With a strict focus on biosecurity and fish welfare, Grieg Seafood aims to achieve strong biological performance through the implementation of a broad range of technological and operational initiatives, including large smolt, GSF Precision Farming and other preventive operational measures aimed at combating sea lice and algae. The group targets an average survival rate in seawater above 93%. Outlook
In the short term, operational efficiency and biosecurity are the top priorities in Grieg Seafood.
The salmon market will continue to be impacted by the Covid-19 situation adding uncertainty and putting pressure on prices in the short term. However, Grieg Seafood see limited impact on operations due to the Covid-19 situation.
The contract share for the Norwegian operations will increase in the second half of 2020 with prices well above current spot prices. Estimated contract shares for the third quarter is 63 per cent and 5 per cent for Norway and the UK, respectively, with full year estimates of 32 per cent and 8 per cent.
In 2019, a total of 25.2 million smolt with an average weight of 190 grams was stocked to sea, with the aim of harvesting 100 000 tonnes in 2020. However, during winter and spring low seawater temperatures in Finnmark have impacted growth. Due to the limited growth in combination with expected sluggish market prices in the short term, Grieg Seafood has decided to postpone some harvest to 2021, reducing expected harvest volume to 95 000 tonnes for 2020.
In the third quarter, expected harvest volume is 21 400 tonnes, with the following area distribution:
Grieg Seafood maintains the long-term harvest volume target of 150 000 by 2025.
Results presentation
CEO Andreas Kvame and CFO Atle Harald Sandtorv will present the results by webcast today, Tuesday 18 August at 08:00 CEST.
The presentation and subsequent Q&A will be held in Norwegian and can be followed at www.griegseafood.com or at https://channel.royalcast.com/webcast/hegnarmedia/20200818_1/ An English transcript of the presentation will be made available at www.griegseafood.com within a few days after the presentation.
For further enquiries, please contact:
Andreas Kvame, CEO Atle Harald Sandtorv, CFO About Grieg Seafood Grieg Seafood ASA is one of the world’s leading salmon farmers, targeting 95 000 tonnes of harvest (GWT) in 2020. Our farms are in Finnmark and Rogaland in Norway, British Columbia and Newfoundland in Canada, and Shetland in the UK. Our headquarter is located in Bergen, Norway. Grieg Seafood ASA was listed at the Oslo Stock Exchange in June 2007. More than 800 people are employed by the Company globally.
Sustainable farming practices are the foundation of Grieg Seafood’s operations. The lowest possible environmental impact and the best possible fish welfare drive economic profitability. Towards 2025, we aim to harvest 150 000 tonnes, to achieve cost leadership in each region and to evolve from a pure salmon supplier to an innovation partner for selected customers.
To learn more, please visit www.griegseafood.com.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Attachments
Cell phone: +47 907 71 441
Cell phone +47 908 45 252
Artificial Intelligence
Innovating Security: How FinVolution is Taking Next-Generation Technologies to Fight Deepfake-Driven Financial Crimes
![innovating-security:-how-finvolution-is-taking-next-generation-technologies-to-fight-deepfake-driven-financial-crimes](https://roboticulized.com/wp-content/uploads/2024/07/150901-innovating-security-how-finvolution-is-taking-next-generation-technologies-to-fight-deepfake-driven-financial-crimes.png)
SHANGHAI, July 2, 2024 /PRNewswire/ — Deepfake technology, an artificial intelligence tool capable of generating convincingly fake audio and video, is increasingly being used to perpetrate financial crimes worldwide, raising serious concerns about sophisticated fraud.
In a notable incident reported by CNN earlier this year, a finance worker was tricked into transferring $25 million during a video call with an individual posing as the company’s chief financial officer (CFO), who was actually a deepfake. Such an incident has intensified fears about the vulnerability of financial systems to advanced fraud techniques.
Furthermore, global fintech platforms are confronting a rising wave of AI-driven criminal activities. FinVolution, a leading fintech company, has reported an increase in AI-generated attacks on its platforms, and has significantly invested in deepfake detection technologies to combat this threat.
Growing concerns
The increasing prevalence of deepfake technology in financial crimes has been underscored by a report from Sumsub, an identity verification provider. Its latest annual report revealed that identity fraud cases involving deepfakes have increased tenfold from 2022 to 2023. The situation in the Philippines is particularly concerning, with a staggering 4500% increase in attempted fraud schemes utilizing deepfake technology.
In China, identity fraud involving voice manipulation has outpaced facial deepfakes, with FinVolution intercepting over 1,000 such incidents in just a few months last year. Meanwhile, Southeast Asia is experiencing a surge in AI visual deception techniques, such as facial swaps, which pose new challenges to the security of digital financial services.
Lei Chen, vice president of FinVolution and head of its big data and AI division, emphasized the urgency of the situation. “Globally, the technology to detect fake voices is not keeping pace with the technology used to create them. We are pushing for advancements in AI that can detect these fakes, aiming to align these defenses with the capabilities of large-scale model applications,” Chen said. “Such efforts are vital for effectively safeguarding the security of public information and individual rights.”
Addressing the challenges
In an effort to combat these threats, FinVolution Group has heavily invested in developing voiceprint recognition anti-fraud solutions tailored for financial scenarios.
The company has taken a proactive approach by introducing their proprietary voiceprint recognition algorithmic model, which has been commercially utilized two years before external open-source models. The model has gained recognition within a mere four seconds across millions of transactions. Moreover, it supports multiple languages, including Indonesian, Chinese, Spanish, and more, and holds a particularly strong position in Indonesian and Spanish markets.
FinVolution is also at the forefront of combating fraud in global financial markets with its tailor-made AI anti-fraud technologies. These cutting-edge services include advanced facial and document forgery detection and voice synthesis algorithms, which are integrated into apps of leading international brands.
By leveraging facial recognition and voice verification, these AI-driven tools play a crucial role in preventing illegal impersonation and bolstering the effectiveness of risk management strategies. Notably, in Southeast Asian markets, FinVolution’s technologies stand out by accurately identifying and intercepting financial fraud activities with generative AI, achieving a detection accuracy rate of over 98%.
Advocating for industry collaboration
In another proactive move to advance AI deepfake detection development, FinVolution is leading the charge in fostering industry collaboration. This includes hosting competitions and supporting academic research. For example, the company’s latest initiative — the 9th FinVolution Global Data Science Competition — zeroes in on deepfake speech detection and challenges global participants to leverage deep learning and AI adversarial techniques.
This competition targets the accurate identification of falsified speech generated by the latest large-scale models, with increasing difficulty levels reflecting evolving threats. Notably, this year’s competition has been featured as part of the International Joint Conference on Artificial Intelligence (IJCAI) 2024 challenges.
Looking ahead, FinVolution remains steadfast in its commitment to advancing deepfake recognition technologies, prioritizing user safety, and fostering a secure financial environment on a global scale.
About FinVolution Group
FinVolution Group (NYSE: FINV) is a leading fintech company that connects millions of consumers as well as small-sized enterprises with financial institutions.
Founded in 2007 and listed on the New York Stock Exchange in 2017, we have been at the forefront of the pan-Asian credit technology industry, pioneering innovative technologies in credit risk assessment, fraud detection, big data, and artificial intelligence. With a proven track record of robust growth in pan-Asian countries, we have established leading fintech platforms in China, Indonesia, and the Philippines.
View original content:https://www.prnewswire.co.uk/news-releases/innovating-security-how-finvolution-is-taking-next-generation-technologies-to-fight-deepfake-driven-financial-crimes-302187840.html
Artificial Intelligence
Kanazawa University research: Atomic force microscopy in 3D
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KANAZAWA, Japan, July 2, 2024 /PRNewswire/ — Researchers at Nano Life Science Institute (WPI-NanoLSI), Kanazawa University report in Small Methods the 3D imaging of a suspended nanostructure. The technique used is an extension of atomic force microscopy and is a promising approach for visualizing various 3D biological systems.
Atomic force microscopy (AFM) was originally invented for visualizing surfaces with nanoscale resolution. Its basic working principle is to move an ultrathin tip over a sample’s surface. During this xy-scanning motion, the tip’s position in the direction perpendicular to the xy-plane follows the sample’s height profile, resulting in a height map of the surface. In recent years, ways to extend the method to three-dimensional (3D) imaging have been explored, with researchers from Nano Life Science Institute (WPI-NanoLSI), Kanazawa University reporting pioneering experiments on living cells. However, for 3D-AFM to evolve into a widely applicable technique for visualizing flexible molecular structures, a thorough understanding of the imaging mechanisms at play is necessary. Now, Takeshi Fukuma from Kanazawa University and colleagues have performed a detailed study of a specially designed flexible sample, providing essential insights into the theoretical basis and the interpretation of 3D-AFM experiments.
Using microfabrication tools, the scientists created a sample consisting of a carbon nanotube fiber resting on platinum pillars that in turn were positioned on a silicon substrate. A carbon nanotube is a structure that one can think of as a rolled-up, one-atom-thick carbon sheet. The freestanding portion of the nanotube was about 2 micrometers long. The whole structure was immersed in water, as many 3D biomolecular systems of interest occur in liquid environments.
Fukuma and colleagues then performed 3D-AFM experiments in two different modes. In static mode, the nanotip is lowered vertically towards the sample. When the tip makes contact with the suspended nanotube fiber, the latter gets pushed aside, and bends while the probe descends further. In dynamic mode, the tip, which is attached to a cantilever, is made to oscillate at a resonance frequency while being lowered. By analyzing how the force experienced by the tip changes as a function of the tip’s depth, the researchers concluded that the friction between the tip and the fiber is much larger in static mode compared to dynamic mode. The latter is therefore the mode of choice, as less friction means that potential damage to the sample is less likely.
The scientists performed computer simulations to model what happens when the tip reaches the carbon nanotube fiber. The simulations confirmed that the suspended nanotube displaces laterally, and that a continuously vibrating tip (as in dynamical mode) results in weaker forces experienced by the sample, hindering strong adhesion of the tip to the fiber.
Fukuma and colleagues then performed experiments with a carbon nanotube fiber suspended above a regular pattern of nano-sized platinum dots deposited on a silicon substrate. The measurements were done in dynamical mode. The reconstructed 3D map of the scanned volume clearly showed the fiber and the dots below it, underlining the capability of 3D-AFM to image vertically overlapping nanostructures.
These findings show that AFM can generally be applied to visualize flexible 3D structures. Quoting the scientists: “… the advancements made in this study may potentially lead to more detailed and accurate AFM analysis of various 3D biological systems such as cells, organelles, chromosomes, and vesicles.”
Background
Atomic force microscopy
The principle behind atomic force microscopy (AFM) is to scan the surface of a sample with a very small tip. During this horizontal (xy) scan, the tip, attached to a small cantilever, follows the sample’s vertical (z) profile, which induces a force on the cantilever that can be measured. The magnitude of the force at the xy position can be related to the z value. The xyz data generated during a scan then result in a height map providing structural information about the investigated sample. The cantilever can be made to oscillate near its resonance frequency, which is referred to as dynamic mode AFM. Not letting the cantilever oscillate is known as static mode AFM. In dynamic mode, when the tip is moved around a surface, the variations in the amplitude (or the frequency) of the cantilever’s oscillation — resulting from the tip’s interaction with the sample’s surface — are recorded, as these provide a measure for the local z value.
Takeshi Fukuma and colleagues have now provided a detailed AFM analysis of a 3D reference sample with nanosized features that could be reconstructed with high precision. The experiments and accompanying simulations confirm that AFM has the potential to become a robust method for the characterization of 3D nanosized objects, including biological systems.
Reference
Mohammad Shahidul Alam, Marcos Penedo, Takashi Sumikama, Keisuke Miyazawa, Kaori Hirahara, and Takeshi Fukuma. Revealing the Mechanism Underlying 3D-AFM Imaging of Suspended Structures by Experiments and Simulations, Small methods, 2400287 (2024). First published : 21 June 2024
DOI: 10.1002/smtd.202400287
URL: https://onlinelibrary.wiley.com/doi/10.1002/smtd.202400287
Figure 1. https://nanolsi.kanazawa-u.ac.jp/wp/wp-content/uploads/Figure-1-1.jpg Imaged nanostructure consisting of a suspended carbon nanotube with platinum nanodots beneath.
© 2024 Mohammad Shahidul Alam, et al., Small Methods published by Wiley-VCH GmbH
Contact
Hiroe Yoneda Senior Specialist in Project Planning and OutreachNanoLSI Administration Office, Nano Life Science Institute (WPI-NanoLSI)Kanazawa UniversityKakuma-machi, Kanazawa 920-1192, JapanEmail: [email protected] Tel: +81 (76) 234-4555
About Nano Life Science Institute (WPI-NanoLSI), Kanazawa University
Understanding nanoscale mechanisms of life phenomena by exploring “uncharted nano-realms”
Cells are the basic units of almost all life forms. We are developing nanoprobe technologies that allow direct imaging, analysis, and manipulation of the behavior and dynamics of important macromolecules in living organisms, such as proteins and nucleic acids, at the surface and interior of cells. We aim at acquiring a fundamental understanding of the various life phenomena at the nanoscale.
https://nanolsi.kanazawa-u.ac.jp/en/
About the World Premier International Research Center Initiative (WPI)
The WPI program was launched in 2007 by Japan’s Ministry of Education, Culture, Sports, Science and Technology (MEXT) to foster globally visible research centers boasting the highest standards and outstanding research environments. Numbering more than a dozen and operating at institutions throughout the country, these centers are given a high degree of autonomy, allowing them to engage in innovative modes of management and research. The program is administered by the Japan Society for the Promotion of Science (JSPS).
See the latest research news from the centers at the WPI News Portal: https://www.eurekalert.org/newsportal/WPI
Main WPI program site:
www.jsps.go.jp/english/e-toplevel
About Kanazawa University
As the leading comprehensive university on the Sea of Japan coast, Kanazawa University has contributed greatly to higher education and academic research in Japan since it was founded in 1949. The University has three colleges and 17 schools offering courses in subjects that include medicine, computer engineering, and humanities.
The University is located on the coast of the Sea of Japan in Kanazawa – a city rich in history and culture. The city of Kanazawa has a highly respected intellectual profile since the time of the fiefdom (1598-1867). Kanazawa University is divided into two main campuses: Kakuma and Takaramachi for its approximately 10,200 students including 600 from overseas.
http://www.kanazawa-u.ac.jp/e/
View original content:https://www.prnewswire.co.uk/news-releases/kanazawa-university-research-atomic-force-microscopy-in-3d-302187814.html
Artificial Intelligence
YES Panel-Level Through Glass Via (TGV) Etch Tool Placed in Production
![yes-panel-level-through-glass-via-(tgv)-etch-tool-placed-in-production](https://roboticulized.com/wp-content/uploads/2024/07/150905-yes-panel-level-through-glass-via-tgv-etch-tool-placed-in-production.jpg)
FREMONT, Calif., July 2, 2024 /PRNewswire/ — YES, a leading manufacturer of process equipment for semiconductor advanced packaging, life sciences and AR/VR applications, today announced that Its TersOnus TGV tool was released for panel-level manufacturing. This system will be used to support the growth of advanced heterogeneous packaging for artificial intelligence chips that enable large language models. The TersOnus TGV system provides superior quality and total cost of ownership for manufacturing of panel-level products. YES has developed the equipment and process technologies required for high aspect ratio through glass vias for a variety of glass types, as well as for manufacturing a diversity of glass via configurations—such as hourglass, straight, and tapered vias—by leveraging different chemistries. Furthermore, these sub-50 µm vias can be created with various aspect ratios while meeting customers specifications. The TersOnus TGV system is being used for production of advanced 2.5D and 3D packages by the world’s leading semiconductor manufacturers.
“To accommodate performance requirements of new emerging applications, semiconductor solutions are moving to a chiplet based architecture that has higher interface bandwidth, larger memory and more heat dissipation. It also requires larger substrate sizes at the same time,” said Michael Daly, SVP of Wet BU at YES. “These large substrate sizes are not economically possible with traditional organics materials. The semiconductor industry is moving to Glass based substrates for these leading-edge applications. Our Wet process tools for creating TGVs for glass panels are fully automated and can handle multiple panels simultaneously. In addition, our tools offer integrated in-line metrology for process control and maintaining consistent etch performance,” Daly added.
“YES has maintained its leadership position in the advanced packaging market segment by enabling customer roadmaps through the delivery of superior products with low cost-of-ownership and high reliability. The TersOnus TGV delivers on this commitment by providing excellent etch rates and aspect ratios for the most challenging through glass vias all the while reducing manufacturing cycle times. The TersOnus TGV is just one of many products that YES has introduced and will be introducing to the burgeoning glass panel market to support AI advancement,” Rezwan Lateef, President of YES concluded.
About YES
YES (Yield Engineering Systems, Inc.) is a leading manufacturer of high-tech, cost-effective equipment for transforming surfaces, materials and interfaces. The company’s product lines include vacuum cure ovens, chemical vapor deposition systems, and plasma etching tools used for precise surface modification and thin-film coating of semiconductor wafers, semiconductor and MEMS devices, and biodevices. With YES, customers ranging from startups to Fortune 100 companies can create and volume-produce products in a wide range of markets, including Advanced Packaging, MEMS, Augmented Reality/Virtual Reality and Life Sciences. YES is headquartered in Fremont, California, with a growing global presence. For more information, please visit www.yieldengineering.com.
Media Contact
Alex ChowSVP Business Development & Mktg / Asia PresidentYES (Yield Engineering Systems, Inc.)+886-926136155 [email protected]
Logo – https://mma.prnewswire.com/media/2357724/YES_TM_logo_RGBv2_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/yes-panel-level-through-glass-via-tgv-etch-tool-placed-in-production-302187572.html
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