Artificial Intelligence
Enterprise Governance, Risk, and Compliance Market to Hit $64.55 Bn by 2027; Rising Demand for Effective Risk Management Tools from Businesses to Fuel Growth: Fortune Business Insights™
Pune, Oct. 16, 2020 (GLOBE NEWSWIRE) — The global enterprise governance, risk, and compliance (eGRC) market size is projected to reach USD 64.55 billion by 2027, exhibiting a CAGR of 13.3% during the forecast period. Tightening compliance, risk, and governance mandates by regulatory authorities worldwide is expected to emerge as the foremost growth driver for this market, shares Fortune Business Insights™ in its report, titled “Enterprise Governance, Risk, and Compliance (eGRC) Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Deployment Model (Cloud-based, On-premise), By Enterprises Size (Large Enterprises, Small and Medium Enterprises), By Vertical (BFSI, Healthcare, Government, Energy & Utilities, Manufacturing, Retail & Consumer Goods, Telecom & IT, and Others), and Regional Forecast, 2020-2027”.
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Compliance regulations are framed and implemented to ensure that enterprises work in a responsible, secure, and transparent manner. For example, the Health Insurance Probability and Accountability Act (HIPAA), 1996 was passed in the United States to safeguard personal health information and prevent the unauthorized transmission of such information across electronic channels. More recently, the European Union (EU) began implementing the General Data Protection and Regulation (GDPR) in 2018, which strictly monitors and penalizes exchange of personal information through electronic mediums, thus upholding the right to privacy of citizens. Enterprise governance, risk, and compliance solutions are critical in enabling businesses to meet these regulations and as countries sharpen their compliance norms, the demand for these solutions is likely to skyrocket.
The world is undergoing unprecedented challenges and upheavals because of the COVID-19 pandemic. Businesses are grappling with plummeting revenues, while industries are strategizing to cope with the impending recession. Amidst these anxious and uncertain times, we, at Fortune Business Insights™, are intensifying our efforts to provide businesses with comprehensive market intelligence, collected and analyzed by our expert research team. Our aim is to not just empower companies to successfully navigate the crisis, but also enable to tap opportunities created by it.
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The report states that the global market value stood at USD 24.26 billion in 2019. It also offers the following:
- In-depth analysis of the different factors driving, restraining, and creating opportunities in the market;
- Tangible insights and piecemeal study of the various market segments;
- Comprehensive assessment of the regional developments influencing the market growth; and
- Exhaustive evaluation of the key market players and their growth strategies.
Market Driver
Extensive Benefits of AI-enabled eGRC Solutions to Stoke Adoption
The enterprise governance, risk, and compliance market growth is slated to get propelled by the integration of smart technologies such as artificial intelligence (AI) and machine learning (ML) in eGRC systems. According to a joint report by SAP and the University of Applied Sciences, Berlin, embedding GRC solutions with AI will bring about profound changes in business operations, enabling managers to analyze risks and compliance & governance dynamics based on hardcore data. For example, the report observes that as AI becomes more prevalent in businesses, fraud examiners will be able to perform fraud assessments and design and develop key performance indicators (KPIs) to prevent future frauds. Moreover, AI-enabled eGRC will automate regulatory adherence reports and compliance managers will be able to detect external and internal dangers to the enterprise as well as efficiently manage cyber-crime threats to the organizational data. Thus, the emergence of AI-powered eGRC systems has put business process automation on the cusp of a revolution.
Regional Insights
North America to Dominate among Regions; Asia Pacific to Present Attractive Business Opportunities
With a market size of USD 10.13 billion in 2019, North America is poised to dictate the enterprise governance, risk, and compliance market share during the forecast period in terms of revenue. The major reason for the region’s leading position is the active adoption of advanced business automation technologies by companies in the US and Canada. Additionally, organizations in the region are also rapidly deploying cloud-based eGRC solutions to further optimize their processes, a trend which has gotten propelled amid the COVID-19 pandemic.
In Asia Pacific, unparalleled growth opportunities await market players owing to the increasing adoption of digitization and automation technologies by companies in the region. In Europe, the market will be primarily driven by the growing stringency of compliance and data protection regulations that enterprises have to follow.
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Competitive Landscape
Leading Companies to Focus on Capturing Evolving eGRC Requirements
Continuous evolution of business processes and the changing compliance and risk management needs of businesses are encouraging key players in this market to design holistic eGRC solutions. As a result, most companies are engaged in development of cutting-edge solutions to meet these requirements, thus strengthening their market position.
Industry Developments:
- June 2020: Connor and Scalio collaborated and announced ConnorScalio, a joint venture by the companies to unify their expertise and develop cloud solutions for their clients’ GRC and license management needs.
- April 2020: MetricStream introduced its COVID-19 Solution to empower companies to manage their operations amid the coronavirus pandemic. Developed speedily in March in response to the pandemic outbreak, the aim of the solution is to enhance organizations’ abilities to manage information and processes that impact all stakeholders associated with the organization.
List of Key Companies Profiled in the eGRC Market Report:
- Origami Risk (Illinois, United States)
- Blue Umbrella Limited (Quarry Bay, Hong Kong)
- Tevora (California, United States)
- LogicManager (Massachusetts, United States)
- SAI Global (Illinois, United States)
- Software AG (Darmstadt, Germany)
- BWise (New York, United States)
- Wolters Kluwer N.V. (Alphen aan den Rijn, Netherlands)
- SAP SE (Weinheim, Germany)
- IBM Corporation (New York, United States)
- Riskonnect, Inc. (Georgia, United States)
- OneTrust, LLC (Georgia, United States)
- Ideagen Plc (Nottingham, United Kingdom)
- NAVEX Global, Inc. (Oregon, United States)
- Dell Technologies (Texas, United States)
- Infosys Limited (Bengaluru, India)
- MetricStream Inc. (California, United States)
- Thomson Reuters Corporation (Toronto, Canada)
- Microsoft Corporation (New Mexico, United States)
- SAS Institute (North Carolina, United States)
Quick Buy – eGRC Market Research Report:
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Detailed Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Enterprise Governance, Risk, and Compliance (eGRC) Key Players Share Market Analysis and Matrix, 2019
- Key Market Insights and Analysis, By Segments
- Global Enterprise Governance, Risk, and Compliance (eGRC) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Component (Value)
- Software
- Services
- By Deployment Model (Value)
- Cloud-based
- On-premise
- By Organization Size (Value)
- Large Enterprise
- Small & Medium business enterprise
- By Vertical (Value)
- BFSI
- Healthcare
- Government
- Energy & Utilities
- Manufacturing
- Retail & Consumer Goods
- Telecom & IT
- Others (Transportation & Logistics, Construction, etc.)
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- By Component (Value)
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Press Release-
Artificial Intelligence
atNorth Wins ‘Colocation Provider of the Year’ and ‘Digital Infrastructure Project of the Year’ at Industry Award Events
AtNorth recognized at the Electrical Review & Data Centre Review Awards and the Tech Capital Awards.
REYKJAVÍK, Iceland, May 24, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider has today announced further acknowledgement in the industry as it wins two significant awards.
The business has been awarded the `Colocation Provider of the Year’ award at the Electrical Review & Data Centre Review Awards. atNorth has undertaken a significant expansion strategy in recent years, that has ensured that the business can offer high performance infrastructure at speed and scale. This award reflects the business’ growth journey as it continues to innovate and adapt to technological advancements and client requirements.
atNorth has also won the `Digital Infrastructure Project of the Year’ at the Tech Capital Awards for its work with client, Shearwater Geoservices. The global marine imaging and processing leader achieved a 92% reduction in CO2 output and an 85% reduction in cost by moving a portion of its UK HPC infrastructure to one of atNorth’s Icelandic data center sites.
Fueled by the abundant renewable power sources of the Nordics, atNorth`s services deliver performance and efficiency for high density workloads in a sustainable way that enables clients to decarbonize their IT footprint and reduce overall costs.
Winners are voted for by a panel of industry experts for both awarding bodies in a process that aims to recognize the outstanding achievements within the digital infrastructure industry.
“We are thrilled to receive these acknowledgments for our data center services”, says Eyjólfur Magnús Kristinsson, CEO at atNorth. “atNorth has experienced significant growth over the last couple of years and this industry recognition is a testament to our dedication to delivering excellence across the board. We are determined to continue decarbonizing the world’s most demanding workloads in an efficient, sustainable, and cost-effective way.”
The news follows atNorth’s announcements of colocation clients Crusoe, BNP Paribas and Advania. The business has also received recent recognition from multiple other awarding bodies including; the Datacloud Global Awards, the Energy Awards, TechRound’s Sustainability60 and the UK Green Business Awards.
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High-Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high-performance workloads.
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Denmark in Q4 2024, as well as its tenth site ready for operation in Kouvola, Finland in 2025.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected]
This information was brought to you by Cision http://news.cision.com.
https://news.cision.com/atnorth/r/atnorth-wins–colocation-provider-of-the-year–and–digital-infrastructure-project-of-the-year–at-i,c3987735
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Artificial Intelligence
Titans of Tech: GP Bullhound releases its annual report on the European tech ecosystem
LONDON, May 24, 2024 /PRNewswire/ — Titans of Tech: Unrivalled era of A.I. led innovation for European Tech – No more excuses. GP Bullhound is proud to announce the release of its Titans of Tech 2024 report. For the tenth year in a row, GP Bullhound has released its annual Titans of Tech report, highlighting and analysing the growth trends in Europe’s tech ecosystem. This comprehensive analysis underscores the resilience and growth of Europe’s tech sector, setting the stage for a new era of innovation and investment.
Key takeaways from our report include:
The funding frenzy is over, but the new normal is very healthy: Funding levels have normalised, averaging €15Bn per quarter over the last year, which is ~50% higher than 2019.The value of the ecosystem is growing despite the failures: 14 new unicorns were created in the last 12 months. Europe and Israel now have 323 unicorns, up from 311 a year ago and 283 the year before. The ecosystem’s total valuation has grown to $1.2Tr, an ~11x increase in billion-dollar companies and a ~14x increase in aggregate valuation since our first report in 2014.Megarounds are fewer but larger and still accessible: Access to capital rounds exceeding $50 million has tightened, but investors remain interested in supporting innovators. The deal count dropped 68% over the last two years due to a focus on profitability and conservative planning. Only 17% of European unicorns raised capital in 2023, as 93% had already raised funds during the 2021-2022 bull market.Software innovation continues, shaping the way we live and work: Despite funding challenges, technological developments, especially in artificial intelligence, continue to drive automation and cost savings. European AI companies received over €11Bn in funding in the last year, with 36% of new unicorns being AI/ML businesses.Category leaders and geographies: This year, the UK and France lead the startup arena with three unicorns each. The UK’s unicorns are valued at $3.4Bn, with significant contributions from AI leaders Synthesia and Builder.ai. France’s trio reaches a collective valuation of $7Bn, highlighted by innovators like Mistral AI. Germany, Israel, and the Netherlands each added two unicorns, while Sweden and Italy added one unicorn each.Europe’s most promising startups: GP Bullhound has analysed more than 100 European startups for scale, velocity, and sentiment, and ranked the top 50 companies with the most potential to become one-billion-dollar companies. The top 10 include Agicap, Brevo, Typeform, Homa, AMBOSS, Akeneo, Form3, Flo Health, Aidoc, and ConnexOne.Manish Madhvani, Managing Partner at GP Bullhound, said: “After ten years of issuing our Titans of Tech report, we have witnessed the highs and lows of the European tech ecosystem. A year ago, the situation was less encouraging for the fundraising environment, with macro uncertainty and with businesses more focused on layoffs than on growth and innovation.
Today, against the backdrop of negative headlines, we have cemented the building blocks for the next wave of innovation. Funding levels have stabilised, and are amazingly 50% higher than pre bull market levels. With Europe’s maturing base of engineering talent and the world’s fascination in its potential productivity gains, artificial intelligence offers a unique opportunity to create global leaders in record time. There is no shortage of funding for the best entrepreneurs and companies, as evidenced by the record $220m seed round for Paris based H announced this week. What was noticeable about the round was the range of the investor syndicate : from strategics such as Amazon, Samsung and UI Path, household names such as Bernard Arnault, Eric Schmidt and Xavier Niel, and leading VC’s.Looking ahead, we expect the next few years to represent an era of unprecedented innovation in the European ecosystem. Innovation is flowing, vast amounts of capital are available for the strong and the talent pool is expanding. No more excuses Europe!”
Expert interviewsWhat does it take to build a billion-dollar company? What are the critical success factors for European tech? How to remain resilient in a challenging market and benefit from economic downturns? This year’s report features expert views from leading founders and CEOs, including Synthesia, Quantexa, SEON, Flo Health, Zappi and CoverManager.
Download full report: www.gpbullhound.com/articles/titans-of-tech-2024
EnquiriesFor enquiries, please contact: [email protected]
About GP BullhoundGP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm today has 12 offices spanning Europe, the US and Asia. For more information, please visit www.gpbullhound.com.
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Artificial Intelligence
Bybit Web3 Announces Upcoming IDO for Aperture Finance, Simplifying Web3 Finance
DUBAI, UAE, May 24, 2024 /PRNewswire/ — Bybit Web3, the Web3 division of Bybit – one of the top three global crypto exchanges by trading volume, today announced an upcoming Initial DEX Offering (IDO) for Aperture Finance ($APTR) on its Web3 platform.
“Bybit Web3 is thrilled to be partnering with Aperture Finance to bring their innovative IDO to our platform,” said Emily Bao, Bybit Web3 Evangelist. “Aperture Finance’s AI-powered solutions have the potential to revolutionize DeFi by simplifying complex transactions and making Web3 finance more accessible to a wider audience. We believe this IDO will be a great opportunity for our users to get involved in this groundbreaking project early on.”
Aperture Finance: Simplifying the complexities of Web3 finance
Aperture Finance is a pioneer in AI-powered intents. Featuring an IntentsGPT interface and an AI-driven smart solver simulation, Aperture’s solver network significantly reduces barriers for DeFi users and enhances transaction efficiency.
IDO Details
IDO Subscription Period: May 24, 2024, 10AM UTC to May 28, 2024, 10AM UTCSnap Period: May 28, 2024, 10AM UTC to May 31, 2024, 10AM UTCReveal and Purchase Period: May 31, 2024, 10:15AM UTC to June 1, 2024, 10AM UTCListing Date: May 31, 2024, 10AM UTCToken Details
Token: APTRTotal Supply: 1,000,000,000Total Allocated to Bybit IDO: 6,666,667 APTREligibility Requirements
Users must hold a Bybit Wallet with a minimum balance of 300 USDT (Arbitrum Chain) throughout the Snapshot Period to participate in the IDO.Three (3) snapshots will be taken daily during the Snapshot Period.Maximum number of winners: 3,000For detailed information on the IDO process and eligibility requirements, please visit the Bybit Web3 page: https://www.bybit.com/en/web3/ido
#Bybit / #TheCryptoArk / #BybitWeb3
About Bybit Web3
Bybit Web3 is redefining openness in the decentralized world, creating a simpler, open, and equal ecosystem for everyone. We are committed to welcoming builders, creators, and partners in the blockchain space, extending an invitation to both crypto enthusiasts and the curious, with a community of over 1 million wallet users, over 10 major ecosystem partners, and counting.
Bybit Web3 provides a comprehensive suite of Web3 products designed to make accessing, swapping, collecting and growing Web3 assets as open and simple as possible. Our wallets, marketplaces and platforms are all backed by the security and expertise that define Bybit as a top 3 global crypto exchange, trusted by 30 million users globally.
Join the revolution now and open the door to your Web3 future with Bybit.
For more details about Bybit, please visit Bybit Web3.
About Bybit
Bybit is one of the world’s top three crypto exchanges by trading volume with 30 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.For media inquiries, please contact: [email protected] more information, please visit: https://www.bybit.comFor updates, please follow: Bybit’s Communities and Social Media
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