Artificial Intelligence
AnalytixInsight Reports Second Quarter 2020 Financial Results
TORONTO, Aug. 31, 2020 (GLOBE NEWSWIRE) — Artificial Intelligence company, AnalytixInsight Inc. (“AnalytixInsight”, or the “Company”) (TSX-V: ALY; OTCQB: ATIXF), reports its financial results for the second quarter ended June 30, 2020.
Highlights
- The Company’s CapitalCube AI-driven research distribution agreement with Refinitiv continued to witness strong readership during the quarter as users embrace the use of AI in fundamental financial analysis. The growth of content disseminated through Refinitiv’s Eikon platform was the strongest in its operating history.
- Initiated development of robo-based ETF and equity analysis to create and develop proprietary indices to be featured in a new version of index driven products in CapitalCube.
- Offered free access to CapitalCube financial analytics platform in support of investors and investment professionals working from home during the COVID-19 pandemic.
- The Company continued to advance its Workforce Optimization initiative and is actively working to deliver new solutions for the opportunities emerging due to COVID-19 impacts on certain industries. The Company is pursuing strategic transformation in this rapidly growing business opportunity and is preparing to offer a unique product suite incorporating data analytics and machine learning, in addition to its IFS and Salesforce systems integration expertise.
- MarketWall has established a new operating subsidiary, InvestoPro, in continued advancement of its digital discount brokerage platform as it prepares to become a European online financial broker. InvestoPro has been constituted with a seven-member board of directors.
- MarketWall made additional investments in its operations relating to the development of InvestoPro to also allow options & derivative trading and is undertaking plans to make the platform live and operational.
- MarketWall deployed a new version 6.6 of its stock quotation platform with several new features.
- AnalytixInsight’s revenue for the three and six month periods ended June 30, 2020, was $0.8 million and $1.4 million, respectively, and net loss was $0.4 million and $0.9 million, respectively.
- MarketWall continued to remain profitable and revenue for the six-month period ended June 30, 2020, was $2.9 million, with a net income of $0.7 million. (MarketWall is 49% owned by AnalytixInsight and not consolidated in AnalytixInsight’s financial results).
Management Commentary
Prakash Hariharan, President & CEO of AnalytixInsight, commented: “COVID-19 has reshaped consumer behavior trends toward increased online channel usage and our strategic initiatives are well aligned in this shift. We are also pleased with the development progress that our subsidiary, MarketWall, has made in building its European online financial broker and we look forward to its completion.”
AnalytixInsight Selected Financial Information:
AnalytixInsight $ Canadian (unaudited) |
Six months ended June 30, 2020 | Six months ended June 30, 2019 |
Revenue | 1,395,380 | 2,097,474 |
Basic net loss per share | (0.01) | (0.01) |
June 30, 2020 | December 31, 2019 | |
Total assets | 5,262,370 | 5,546,267 |
Total liabilities | 924,877 | 523,853 |
MarketWall Selected Financial Information:
AnalytixInsight owns 49% of MarketWall which is considered an associated company as its financial results are not consolidated in AnalytixInsight’s financial results.
MarketWall (Associated investment of AnalytixInsight, $ Canadian) |
Six months ended June 30, 2020 | Six months ended June 30, 2019 |
Revenue | 2,913,694 | 2,588,742 |
Net income | 658,334 | 691,302 |
June 30, 2020 | December 31, 2019 | |
Total assets | 5,649,066 | 5,206,824 |
Total liabilities | 1,760,445 | 2,139,151 |
CapitalCube
AnalytixInsight is an established AI-driven content supplier with ability to offer research content on small & mid-cap companies worldwide through its CapitalCube platform which delivers scalable, machine-created content. Its powerful analytics engine is capable of 100 billion daily computations and currently provides analysis on approximately 50,000 worldwide stocks and North American ETFs.
CapitalCube provides AI-driven research to Refinitiv on North American pre-revenue companies and dividend-paying companies worldwide. CapitalCube’s dividend analysis report provides powerful insights, analysis and scoring regarding a company’s dividend quality, yield, coverage, flexibility, payment history, peer comparisons and sustainability. Report readership continued to increase during the quarter as users rapidly embrace the use of AI in fundamental financial analysis.
AnalytixInsight believes that its ability to create scalable financial content on companies worldwide is being recognized with increasing importance as global industry leaders embrace analytics within the financial industry. On August 1, 2019, the London Stock Exchange agreed to buy Refinitiv in a US$27 billion transaction to create a global financial markets infrastructure provider with leading data and analytics to Refinitiv’s 40,000 institutions in over 190 countries.
During the quarter, CapitalCube initiated development of robo-based ETF and equity analysis designed to develop proprietary indices and specialized portfolio criteria selection based on Efficient Frontier computations. The Company is engaged in discussions with professional portfolio managers relating the use of CapitalCube’s robo-analysis and AI to be featured in new versions of index-driven products in CapitalCube.
Workforce Optimization
AnalytixInsight’s Workforce Optimization division joined the IFS Partner Network in 2018 and the Company is advancing its sales initiatives in this market. IFS is a world leader in developing workforce optimization enterprise software for global customers who manage service-focused operations. AnalytixInsight plans to explore opportunities with IFS to jointly develop machine intelligence solutions to help organizations maximize operational efficiency, increase revenue, reduce costs, and improve customer satisfaction.
The COVID-19 pandemic has disrupted many North American businesses and is disrupting the traditional operations of service-based organizations. They are now seeking innovative solutions for field dispatch, job tracking, and workflow efficiency. Data analytics plays an important role in this shift, which is more easily enabled now that most service technicians use digital-based solutions.
The Company’s Workforce Optimization division is a highly skilled systems integration team experienced in integration of IFS and Salesforce field management solutions. The Company will apply an increased focus on this initiative with new solutions and strategies that are emerging as a result of COVID-19.
MarketWall
MarketWall is 49%-owned by AnalytixInsight and is a FinTech online digital solutions provider for major financial services firms. The Company believes the need for online banking and online trading platforms will increase because of consumer behavior shifts caused by the COVID-19 pandemic and expects MarketWall’s business will additionally benefit from this trend shift.
During the quarter MarketWall structured InvestoPro as its wholly-owned online brokerage initiative, constituted with a seven-member board: three by Intesa Sanpaolo, two by AnalytixInsight and two by MarketWall. The development of InvestoPro is proceeding well and InvestoPro will also now be offering options & derivatives trading in addition to stock trading.
InvestoPro will be an online stock and options trading platform that will also provide research content and financial education on multi-device trading platforms (e.g., mobile, wearables, smart-TV). InvestoPro will be offered initially in Italy with intentions to expand to other European countries, using Intesa Sanpaolo as its execution broker. InvestoPro will offer discounted stock trading commissions and other services that are designed to give individual investors greater control over their investments and trading.
During the quarter, MarketWall deployed a new version 6.6 of its stock quotation platform which is available for download at Apple App Store and Google Play Store, and to all users at www.marketwall.com. The new comprehensive version improves stock quotation features and now includes peer group comparisons, fundamental analysis chart and scores, shareholder ownership reporting, rating reporting, target price consensus, valuation analysis, real-time quotes, news, MarketWall editorial video content, and more. MarketWall.com draws an audience of over 2 million monthly views across its digital channels. As a Samsung Electronics partner, MarketWall’s financial app is pre-loaded on certain devices such as Smart TVs.
MarketWall’s editorial team is now producing “Trading Ideas” content which is designed to educate investors by offering weekly stock market summaries, worldwide financial market outlooks, educational content for stocks, bonds, currencies, new emerging industry trend analysis, and more.
MarketWall has already developed “Investo” which is the stock trading component of the Intesa Sanpaolo App, ranked top 4th App in Europe by Forrester Digital Wave. During its first quarter, Intesa Sanpaolo reported an increase of approximately 300,000 App users to 5.8 million. The bank also reported a 60% increase in Market Hub trading orders during its first quarter. Market Hub will be the execution broker for InvestoPro, when launched.
Following the completion of MarketWall’s online brokerage initiative InvestoPro, MarketWall expects to initiate a valuation process to determine its appropriate valuation within a peer-based context of online brokerage firms with partnerships with world-leading banks. Completion of this process will allow AnalytixInsight to move forward with a spinout to unlock the value of its MarketWall holdings in an IPO or other such strategies.
MarketWall has also developed GlobalMarket, a trading & research platform offering analyst research and stock trading in one common enterprise digital platform. It is marketed and sold by a leading investment research provider and has already been installed by a leading bank in Western Europe for their approximately 4,000 professional users.
Intesa Sanpaolo owns 33% of MarketWall and is one of the top banking groups in Europe with approximately 11.8 million customers and approximately 3,700 branches throughout Italy. It has emerged as Italy’s first digital bank and is investing 2.8 billion euros in a strategic plan to increase the bank’s digitized business to 70%, with mobile being at the heart of the digital ecosystem. S&P Global ranks Intesa Sanpaolo as the 27th largest bank in the world by total assets.
Complete details of the Company’s financial and operating results are available under the Company’s profile at www.SEDAR.com.
The Company has granted a total of 650,000 stock options to certain members of management and consultants pursuant to its stock option plan. The options may be exercised at a price of $0.57 per option for a period of five years from the date of grant. The grant of options remains subject to the approval of the TSX Venture Exchange.
CONTACT INFORMATION:
Scott Urquhart
VP Corporate Development
[email protected]
Tel: (416) 522-3975
ABOUT ANALYTIXINSIGHT INC.
AnalytixInsight Inc. is an Artificial Intelligence, machine-learning company. AnalytixInsight’s financial analytics platform CapitalCube.com algorithmically analyzes market price data and regulatory filings to create insightful actionable narratives and research on approximately 50,000 global companies and ETFs, providing high-quality financial research and content for investors, information providers, finance portals and media. AnalytixInsight also designs and implements Workforce Optimization solutions for large global enterprises. AnalytixInsight holds a 49% interest in MarketWall, a developer of FinTech solutions for financial institutions. For more information, visit AnalytixInsight.com.
Regulatory Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the growth of the Company’s business operations; the impact of COVID-19 on the Company’s operations; the Company’s financial results; the adoption of AI in various industries; the Company’s ability to spin out or monetize its interest in MarketWall, the valuation of MarketWall, MarketWall’s ability to raise adequate capital, MarketWall’s ability to obtain a brokerage licence; the Company’s financial results; the use of the Company’s content by various parties; the impact of the distribution agreement with Refinitiv; the Company’s ongoing relationship with IFS and the Company’s ability to enter into commercial transactions with members thereof; the Company’s ability to expand its content distribution; MarketWall’s and Intesa Sanpaolo’s future performance; and the Company’s future performance. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of AnalytixInsight Inc., as the case may be, to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the Company’s technology and revenue generation; risks associated with operation in the technology sector; ability to successfully integrate new technology and employees; foreign operations risks; and other risks inherent in the technology industry. Although AnalytixInsight has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information 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 information. AnalytixInsight does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Artificial Intelligence
Dongfa Group’s Gas Scenario + Digital Twin Technology, Leads the Industry with New AI Trend
–Highlights of the 2024 Exhibition
SHANGHAI, May 23, 2024 /PRNewswire/ — From May 17 to 19, 2024, China(Shanghai) International Metrology Measurement Technology and Equipment Exhibition was held at the Shanghai World Expo Exhibition and Convention Center. Dongfa Group participated in the exhibition, showcasing its latest research achievements. At the expo, Chairman Liu Ming of Dongfa Group conducted the lighting ceremony and announced the official launch of the “Smart Gas Comprehensive Supervision Platform,” demonstrating the convenience and efficiency achieved through the smart management of municipal gas meters.
Dandong Dongfa (Group) Co., Ltd., established in 1962 and headquartered in Singapore, was formerly known as Dandong Thermal Instrument Co., Ltd. As an integrated group company engaged in research, production, and operations, Dongfa Group is dedicated to the development and application of instruments and meters. Its product range includes IC card gas meters, wired direct-reading remote diaphragm gas meters, wireless direct-reading remote diaphragm gas meters, NB-IoT IoT meters, and ultrasonic gas meters. These products incorporate the technical features of similar domestic and international products, offering high accuracy, reliability, and stability, making the company a leading smart gas meter manufacturer in China.
At the expo, Dongfa Group showcased its Smart Gas Comprehensive Supervision Platform, which integrates AI, IoT, cloud computing, and big data. This platform connects the topological structure of all aspects of gas operations and consolidates all relevant data involved in production management and operation maintenance. This integration enhances the comprehensive research and development and operational maintenance capabilities of the big data governance system.
At the same time, Dongfa Group is empowering comprehensive management and control with digital twins, AI, and big data. By leveraging digital twins, AI models, and 5G technology as data elements, the company is constructing a unified citywide network and a digital twin map of the gas pipeline network. This enables deep integration of AI monitoring, pressure and leakage detection, smart terminals, and other sensing devices with gas operations, ensuring the comprehensive safety and supply of urban gas.
Digital twin gas technology not only provides auxiliary support for pipeline design, but also plays a crucial role in intelligent emergency response and precise distribution. Especially in the operation of gas stations, it enables comprehensive real-time monitoring, intelligent integrated operation scheduling, proactive warning, emergency event command plans, and other effects, thereby improving the efficiency and safety of gas management.
However, there have been numerous incidents of data leakage involving smart AI devices in recent years. Sensitive data is being collected or even sold by malicious actors, leading to the disclosure of confidential information, resulting in significant economic losses and even legal risks.
To ensure the security of both enterprise and user data, Dongfa Group utilizes Digital Envelope technology to encrypt and decrypt data packets during data collection and distribution. This approach combines the advantages of both symmetric and asymmetric encryption technologies for secure information transmission, enabling fast, efficient, and secure encryption and decryption processing for the smart gas digital business sector. This ensures the security and integrity of data during transmission.
Visitors at the expo showed strong interest in the new products and technologies exhibited by Dongfa Group. Dongfa Group has always been committed to driving the development of the smart instrumentation industry through technological innovation. Through this exhibition, the company not only showcased its technical prowess but also strengthened communication and collaboration with industry peers. Looking ahead, they aim to join hands in opening a new chapter in the smart instrumentation industry.
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View original content:https://www.prnewswire.co.uk/news-releases/dongfa-groups-gas-scenario–digital-twin-technology-leads-the-industry-with-new-ai-trend-302153974.html
Artificial Intelligence
QNAP S3-compatible Storage Solution “QuObjects” Certified as Veeam® Ready – Object with Immutability
TAIPEI, May 23, 2024 /PRNewswire/ — QNAP® Systems, Inc., a leading computing, networking, and storage solution innovator, today announced that its S3-compatible object storage solution “QuObjects” has qualified as Veeam® Ready – Object with Immutability, applicable for QNAP NAS with QTS and QuTS hero operating systems. This certification underscores the reliability of QuObjects as a secure object backup solution for enterprises, enhancing data management efficiency and upmost security.
QuObjects is the S3 object storage solution for QNAP NAS, boasting read/write speeds 20 times faster than conventional cloud services, along with a highly flexible and scalable architecture to ensure efficient transmission and flexibility in object storage. From object service development to demanding workloads like machine learning and data lakes, QuObjects assists enterprises in achieving diverse application needs with higher cost effectiveness.
QuObjects supports Object Lock to ensure data immutability, further safeguarding against ransomware threats, cyberattacks, or human error. Coupled with access controls and authentication features, it provides comprehensive protection for object data security.
Jimmy Tam, Product Manager of QNAP, stated “Data security is critical for enterprises. With QuObjects certified by Veeam Ready – Object with Immutability, we empower organizations leveraging Veeam solutions to confidently opt for QNAP NAS for on-prem S3 object storage and backup, enjoying rapid transmission, extensive scalability, and steadfast security.”
QNAP is the preferred partner for Veeam object backup solutions. Learn more at Veeam Ready Object Partner and QNAP QuObjects- S3 Object Storage.
For more information and to view the full QNAP NAS lineup, please visit www.qnap.com.
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View original content:https://www.prnewswire.co.uk/news-releases/qnap-s3-compatible-storage-solution-quobjects-certified-as-veeam-ready–object-with-immutability-302148872.html
Artificial Intelligence
Tencent Announces Winners of Flagship CarbonX Program to Combat Climate Change
SHENZHEN, China, May 23, 2024 /PRNewswire/ — Tencent (00700.HK) is awarding 13 exceptional teams that won the first phase of its groundbreaking CarbonX Program, which is aimed at boosting promising new climate technologies. The winners, which emerged from a pool of 30 finalists and more than 300 initial applications, will receive a total of around RMB 100 million (US$14 million) in financial support from Tencent. It showcases the company’s commitment to driving sustainable social innovations in the fight against climate change.
CarbonX was launched in March 2023 to advance the next generation of low-carbon technologies. Tencent has committed RMB 200 million (US$28 million) in catalytic funding over the next three years to innovative ideas that might otherwise languish or fail to gain traction.
CarbonX’s first phase focused on carbon capture, utilization, and storage (CCUS), as well as technology-based carbon removal. These solutions were chosen for their unique ability to curb emissions from hard-to-abate industries such as steel and cement, mitigate the continued reliance on fossil fuels, and reduce legacy emissions created from decades of industrialization.
Backed by Tencent’s mission of Tech for Good and an alliance of like-minded industry partners, CarbonX aims to help these cutting-edge technologies make the leap from the research or early startup stage to commercial scale. The ultimate goal is supporting them in making a significant impact toward the targets outlined in the Paris Agreement, which includes a 45 percent reduction in emissions by 2030 and achieving net-zero emissions by 2050.
Dr. Hao Xu, Tencent’s Vice President of Sustainable Social Value and Head of Tencent’s Carbon Neutrality Lab, said: “Technology innovation serves as the driving force to accelerate our progress toward achieving carbon neutrality. CarbonX program is aimed at fostering the growth of these technologies, driving positive impact across society, and laying the groundwork for a more sustainable future.”
Professor Jerry Yan, Chair Professor of the Hong Kong Polytechnic University and Co-chairman of the CarbonX expert committee, said: “To pave the path for a greener economy, we must champion the development of cutting-edge low-carbon technologies. Just as solar and wind power were nurtured in their infancy, emerging solutions like CCUS and tech-based carbon removal demand our early support.”
The program assembled a panel of experts from academia, industries, and the investor community as the jury, and welcomed submissions from diverse participants across three distinct tracks:
CarbonX Lab: Designed to incubate research institutions, universities, or labs that bring in game-changing climate solutionsCarbonX Accelerator: Designed to accelerate the growth of climate-tech startups that exhibit commercialization potentialCarbonX Infrastructure: Designed to support capacity building to facilitate industry developmentThe finalists comprise four projects from the Lab track, six from the Accelerator track, and three from the Infrastructure track. These projects explore innovative solutions, such as using steel slag to capture and store carbon directly from furnace exhaust, converting CO2 into sustainable aviation fuel and valuable chemicals through electrochemical reactions or microorganisms, and employing new approaches to directly capture CO2 from the atmosphere with the hope of slashing the cost to less than US$150 per ton.
Meanwhile, Tencent is also collaborating with Tsinghua University to develop a comprehensive system of Measure, Reporting and Verification (MRV) tools to accurately gauge progress toward decarbonization.
Aside from receiving financial and advisory support, several projects will also have the opportunity to collaborate with industry partners and test their research beyond the laboratory setting.
Building upon the success of the first phase, Tencent is poised to launch the second iteration of CarbonX globally as early as later this year in pursuit of early-stage climate tech innovation.
View original content:https://www.prnewswire.co.uk/news-releases/tencent-announces-winners-of-flagship-carbonx-program-to-combat-climate-change-302153596.html
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