Artificial Intelligence
Artificial Intelligence in Diagnostic Market Register Growth 33.2% by 2027
OTTAWA, Nov. 19, 2020 (GLOBE NEWSWIRE) — Precedence Research, Recently Published Report on “Artificial Intelligence in Diagnostics Market (By Component: Hardware, Software and Services; By Diagnosis Type: Radiology, Pathology, Cardiology, Oncology, Neurology, Chest and Lung, Others) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”.
Artificial intelligence technology (AI) has progressed rapidly since 1980. This technology is employed to enhance manufacturing, cybersecurity, logistics and education. With the arrival of augmented computational power, accessibility of AI devices has also been improved. Artificial intelligence finds application in variety of areas such as image processing, image acquisition, follow-up plan, aided reporting, data mining, and data storage among others. Healthcare AI assists in patient care, hospital management and patient data management. Further, innovation of pioneering AI software in diagnostics comprising a combination of numerous data sources like CT, MRI, proteomics, genomics and patient data that helps in effectively detecting sickness and evaluating its development is also projected to push the growth of the market.
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Artificial intelligence based diagnostics using AI-based medical diagnosis devices provide a smaller turnaround time compared with outdated microscopic testing. Pathologists with the help of AI-based medical diagnosis may send images and data to numerous specialists across the world that augments identification, research and collaborative diagnosis, deprived of the requirement to physically transfer the specimen from one place to other. The automatic features of AI in pathology such as AI for decrease manual mistakes that are frequently observed in physical examinations and medical tests.
Growth Factors
The introduction of AI platform is estimated to lift the clinical diagnosis growth by scaling up healthcare services across the globe. It is projected to deliver improved patient safety, outcome scrutiny, and data assortment. Progressions in data analytics is considered to upsurge the growth in the healthcare artificial intelligence industry during upcoming years. Enormous amount of data is produced each year in healthcare sector and ever-increasing volume of big data has created the requirement to implement artificial intelligence technology to handle this data resourcefully. Artificial intelligence has transformed the arena of healthcare by planning treatment plans, supporting in monotonous tasks, drug discovery and medication supervision. It is also very effectually utilized for healthcare data organization by gathering, normalizing and storing information.
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Rising need for diagnostic costs reduction, plummeting machine downtime and refining patient care, is one of the influencer using the practice of artificial intelligence in diagnostics. Additionally, upward demand for cost effective diagnostic methods, rapid diagnostic data generation and operative and effectual report analysis are certain other reasons foreseen to foster the AI in diagnostics demand in the healthcare industry. Nevertheless, high capital constraint may generate affordability concerns and hinder the growth of the industry to some extent.
Regional Snapshots
North America led the Ai in diagnostics market with substantial share of revenue more than 55% in 2019. This is credited to escalating implementation of healthcare IT solutions in diagnosis, huge subsidy for improvement of AI-based diagnosis software and existence of well-organized healthcare sector. The U.S. conquered the overall revenue contribution of artificial intelligence in diagnostics sector in this region. Collective deployment and improvement of groundbreaking and innovative medical diagnosis software and existence of a huge number of organizations functioning across segments including network and mobile operations, in the U.S. are accelerating the growth of the market in the region.
However, Asia Pacific is considered to be most potential regional market for healthcare AI business. Healthcare AI in Asia Pacific is backed by expansions in biotechnology and pharmaceutical industry and rising R&D expenditure. Furthermore, existence of large patient pool will further prompt the need for improved healthcare services, increasing disposable income and emerging healthcare infrastructure will promote growth of Asia Pacific healthcare artificial intelligence sector during forthcoming years.
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Key Players & Strategies
Underlining tactical collaborations and partnerships amongst several healthcare facilities and AI solution suppliers is another aspect confidently supplementing market growth. For illustration, introduction of a machine learning tool named IBM Watson by IBM has further reinforced its market foothold in the AI in healthcare industry. It intended to accomplish its AI goals with the help of both inorganic and organic developments. Different players contending in the market arena include Siemens Healthcare GmbH, GE Healthcare, Aidoc, Imagen Technologies, AliveCor, Zebra Medical, Vision, Vuno Inc., IDx Technologies Inc., Neural Analytics, Riverain Technologies and others.
Report Highlights
- Increasing acceptance of deep learning in different healthcare applications, specifically in the sectors of disease diagnostics, medical imaging, and drug discovery, and the application of multiple devices and sensors to track a patient’s health state in real time are complementingthe market growth
- Software appeared as the prominent segment in the AI diagnostics market with a share of more than 40% in 2019. This substantial growth is credited to the improvement of AI-based software for identification in healthcare.
- Healthcare artificial intelligence industry in North America conquered the global marketplace and expected to mirror this trend throughout the assessment period.
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Artificial Intelligence
Securitas AB Interim Report Q1 2024 January-March
STOCKHOLM, May 8, 2024 /PRNewswire/ —
January–March 2024
Total sales MSEK 39 260 (37 751)Organic sales growth 7 percent (12)Real sales growth within technology and solutions 7 percent (77)Operating income before amortization MSEK 2 357 (2 180)Operating margin 6.0 percent (5.8)Earnings per share SEK 1.84 (1.66)Earnings per share before IAC, SEK 2.12 (2.03)Net debt/EBITDA ratio 2.9 (3.3*)Cash flow from operating activities –15 percent (9)*The comparative is adjusted and includes STANLEY Security’s 12 months adjusted estimated EBITDA.
Comments from the President and CEO
“Continued operating margin improvement in line with strategy”
The operating margin improvement continued in the first quarter to 6.0 percent (5.8), driven by a strong performance in our North American operations. Ibero-America also developed well, while Europe was weak primarily due to challenges within the airport security business. The Group’s operating margin improved both in security services and in technology and solutions.
Organic sales growth was 7 percent. Real sales growth in our technology and solutions business was also 7 percent in the first quarter, negatively impacted by the divestment of Securitas Argentina in July 2023.
The integration of STANLEY Security continued to progress, realizing further cost synergies although these were partly offset by operational cost increases from the ongoing system and support transitions that are progressing according to plan. Our combined offering is gaining increased interest and appreciation from both existing and new clients, which presents good opportunities for deeper client partnerships and commercial synergies in our business.
The first quarter is our weakest cash flow quarter due to seasonality. As expected, the operating cash flow was lower than last year due to the strong net working capital position at year-end 2023, and as the quarter ended with the Easter holiday impacting collections. We remain with strong cash flow focus across the organization to ensure a strong 2024 outcome.
SHAPING SECURITAS FOR LONG-TERM SUSTAINABLE SHAREHOLDER VALUE
The overall message at our recent Investor Day in March was how we shape Securitas for long-term sustainable shareholder value. The core to that execution is operational value creation through growth in technology and solutions, security services portfolio profitability, cost efficiency and digital innovation.
We have invested substantially in our technology capabilities and in the transformation programs in the past few years to support the value creation, and we will continue to invest in a balanced way to ensure that our business has the capability to execute on the strategy. Another part of our strategy execution is to continuously assess our business mix and presence to further sharpen our performance and competitive position.
I have met with a number of local and global clients in the US, Asia and Europe during the last few months and have received very positive feedback on the new Securitas we are creating. The clients are looking for a security partner with strong presence, technology and data capabilities. In addition to recent contract wins, the pipeline of commercial opportunities is very promising. We are piloting a new integrated Technology and Guarding services concept for broader roll-out together with one global client.
The strategic transformation of Securitas is on the right path and we are committed to achieve our target of 8 percent operating margin by the end of 2025. With our strong offering we will solidify our position as the leading security solutions company.
Magnus AhlqvistPresident and CEO
PRESENTATION OF THE INTERIM REPORT
Analysts and media are invited to participate in a telephone conference on May 8, 2024, at 9.30 a.m. (CEST) where President and CEO Magnus Ahlqvist and CFO Andreas Lindback will present the report and answer questions. The telephone conference will also be audio cast live via Securitas’ website www.securitas.com.
To follow the audio cast of the telephone conference via the web, please follow the link www.securitas.com/en/investors/financial-reports-and-presentations/
A recorded version of the audio cast will be available at www.securitas.com/en/investors/financial-reports-and-presentations/ after the telephone conference.
For further information, please contact:Micaela Sjökvist, Vice President, Investor Relations +46 76 116 7443
ABOUT SECURITAS
Securitas is a world-leading safety and security solutions partner that helps make your world a safer place. Almost nine decades of deep experience means we see what others miss. By leveraging technology in partnership with our clients, combined with an innovative, holistic approach, we’re transforming the security industry. With approximately 341 000 employees in 44 markets, we see a different world and create sustainable value for our clients by protecting what matters most – their people and assets.
Group financial targets
Securitas has four financial targets:
8–10 percent technology and solutions annual average real sales growth8 percent Group operating margin by year-end 2025, with a >10 percent long-term operating margin ambitionA net debt to EBITDA ratio below 3.0xAn operating cash flow of 70–80 percent of operating income before amortizationSecuritas AB (publ.)P.O. Box 12307, SE-102 28 Stockholm, Sweden
Visiting address:Lindhagensplan 70Telephone: +46 10 470 30 00 Corporate registration number: 556302–7241www.securitas.com
This is information that Securitas AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 a.m. (CEST) on Wednesday, May 8, 2024.
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Artificial Intelligence
TXOne Networks, Leader in Cyber-Physical Systems (CPS) Security, Raises $51 Million in Total in Series B Extension Round Funding
Significant funding round validates TXOne Networks’ capabilities and vision for securing industrial control systems (ICS) and operational technology (OT) environments
TAIPEI, May 8, 2024 /PRNewswire/ — TXOne Networks, a leader in Cyber-Physical Systems (CPS) security, today announced a significant achievement of securing $51 million in its Series B extension round of financing. In addition to TGVest Capital, the lead investor of the B round, Pegatron Group, CDIB Capital Group and CDIB-Innolux II L.P. are continuing to invest. New investors include the Taiwania Capital and Applied Ventures ITIC Innovation Fund, L.P. (AVITIC), a joint fund of Applied Ventures, LLC and ITIC-Taiwan (Industrial Technology Investment Corporation).
TXOne Networks completed its Series A financing in August 2021 and announced Series B financing in August 2022.
TXOne Networks works with both leading manufacturers and critical infrastructure operators to develop practical, operations-friendly approaches to cyber defense of industrial control systems (ICS) and operational technology (OT) environments. With TXOne Networks, companies in diverse OT verticals implement tailored defense, including the adoption of advanced threat detection and response measures, to effectively counter ransomware and other emergent strategic threats and protect assets for their entire lifecycle. TXOne Networks secures the operations of more than 3,600 organizations globally in industries including semiconductors, automotive, pharmaceutical, food and beverage, public transportation, utilities, electronics, healthcare, mining and metals, oil and gas, and aerospace.
“We are impressed that the ‘OT Zero Trust’ approach that TXOne Networks pioneered goes beyond the limitations of traditional cyber defense to safeguard operations and revenues, as well as its continuous efforts to streamline management, reduce security overhead and more quickly resolve challenges,” said DC Cheng, Chairman with TGVest Capital. “This makes TXOne Networks a unique player in the global cybersecurity landscape, and we are happy to partner with the company for its continuous future growth.”
Added Dr. Terence Liu, TXOne Networks chief executive officer: “The successful procurement of $51 million in this extension round marks a significant achievement for the company and underscores the confidence and trust of our investors in TXOne Networks’ vision and potential.”
In April 2024, TXOne Networks announced its latest innovative CPS protection platform, the SageOne central management console. The new TXOne Networks platform delivers management of the CPS attack surface across the OT environment, combines advanced technologies with a user-friendly interface for securing critical infrastructures and enables integrated lifecycle protection.
CRN in April 2024 recognized TXOne Networks among its list of “The 10 Coolest IoT Security Companies.”
Follow TXOne Networks on Blog, Twitter, and LinkedIn.
About TXOne Networks
TXOne Networks offers cybersecurity solutions that ensure the reliability and safety of industrial control systems and operational technology environments. TXOne Networks works together with both leading manufacturers and critical infrastructure operators to develop practical, operations-friendly approaches to cyber defense. TXOne Networks offers both network-based and endpoint-based products to secure the OT network and mission-critical devices using a real-time, defense-in-depth approach. www.txone.com
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Artificial Intelligence
Tanmyah to Unify Management Processes & Boost Investment Value with Yardi Cloud Technology
Property management company to utilise Yardi’s end-to-end solution to strengthen its commercial operations & enhance efficiency across the Kingdom of Saudi Arabia
JEDDAH, Saudi Arabia, May 8, 2024 /PRNewswire/ — Advanced Development Real Estate Investments (Tanmyah), recognised as one of the early pioneers in property management and development brokerage across Saudi Arabia, is set to improve its commercial property management operations and tenant experience with Yardi®.
The Yardi® Commercial Suite will allow Tanmyah to streamline its commercial and retail operations into one system and effectively manage its portfolio from leasing and reporting to forecasting and accounting. Yardi will also help deliver a self-service portal and app, improving convenience and accessibility for tenants to update details, manage maintenance and view sales metrics. With a more unified system in place, Tanmyah can enhance staff productivity, tenant relations and maximise return on assets.
“We’re thrilled to implement Yardi’s cloud technology into our operations and enhance our ability to deliver exceptional services to all our stakeholders,” expressed Mutaz Alattas, property management and leasing manager for Tanmyah. “With Yardi as our central solution, we will be positioned to efficiently manage our expansive commercial and retail portfolio and become one of the top choices for management and development within the region.”
“Yardi’s unified technology is purpose-built to cater to the strategic expansion and evolving needs of businesses such as Tanmyah,” noted Said Haider, senior director of middle east sales for Yardi®. “We are delighted to contribute to the progression of Tanmyah and are excited about the prospects of our partnership.”
See how Yardi can boost your commercial portfolio activities with a cloud-based management platform.
About TanmyahAdvanced Development Real Estate Investments Company Ltd., known as Tanmyah, is a Saudi Company based in Jeddah on the Western Coast of Saudi Arabia. Tanmyah is recognised as one of the early pioneers in property management and development in the region due to its historic achievements in the real estate market coupled with the generous contributions by its founders to the local community. For more information, visit tanmyah.com.sa.
About YardiCelebrating its 40-year anniversary in 2024, Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 9,000 employees, Yardi is working with clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energised for Tomorrow, visit yardi.ae.
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