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Annual financial results 2020: Bosch diversification stabilizing factor in North America as company achieves sales of $12.3 billion

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Farmington Hills, Mich., June 08, 2021 (GLOBE NEWSWIRE) — Bosch, a leading global supplier of technology and services, ended its 2020 fiscal year with $12.3 billion (10.8 billion euros) in consolidated sales in North America.

“The COVID-19 pandemic had a substantial impact on our business, particularly in the second quarter of 2020,” said Mike Mansuetti, president of Bosch in North America. “Our associates responded with great poise, agility and creativity to help us meet the significant challenges we faced. As a result, we were able to rebound successfully in the second half of the year.”

Due to the pandemic, sales in North America were 15 percent below the previous year’s level. However, once again, Bosch’s broad diversification served as a stabilizing force, blunting the impact of the crisis on the region’s business results. While the Mobility Solutions business sector suffered the effects of declining worldwide automotive production (even prior to the pandemic), demand for household appliances and power tools increased significantly, boosting sales in North America’s Consumer Goods business sector to $2.9 billion, a 12 percent increase.

“For the current year, we are optimistic about building upon the results of the second half of 2020 and the start of 2021, but also expect on-going challenges due to industry-wide headwinds such as the semiconductor shortage,” said Mansuetti.

Investment to support customers

Despite the global economic challenges of 2020, Bosch continues to invest in North America across its portfolio as the company plans capital expenditure investments of approximately $360 million (315 million euro) in 2021.

For its Mobility Solutions business sector, Bosch will invest more than $250 million (218 million euro) in North American capital expenditures for 2021 in support of its customers. At its Charleston, South Carolina facility, Bosch is ramping up production to support powertrain electrification as part of the company’s investment and growth in the area of electromobility. At the same time, the facility is also experiencing growth in its on-going support of the internal combustion engine. Bosch continues to offer its customers technologically-neutral options for the powertrain with an enduring focus on increasing efficiency and reducing emissions. The Charleston facility expects to invest $80 million (70 million euro) by 2023 to support these areas.

AIoT solutions in the North American region

Bosch in North America is extending the company’s global focus on AIoT, where artificial intelligence (AI) meets the internet of things (IoT), via AIoT solutions and projects originating in the region.

In 2020, Bosch introduced the Virtual Visor, a transparent LCD and intuitive camera, which replaces the traditional vehicle sun visor completely. Bosch technology utilizes intelligent algorithms to intuitively block the sun’s glare and not the view of the road ahead. The connected system, which was developed in the United States, uses artificial intelligence to locate the driver within the image from a driver-facing camera. It also utilizes AI to determine the landmarks on the face ‒ including where the eyes, nose and mouth are located ‒ so that it can identify shadows on the face. The algorithm analyzes the driver’s view, darkening only the section of the display through which light hits the driver’s eyes. The rest of the display remains transparent, no longer obscuring a large section of the driver’s field of vision.

After sending its Soundsee technology that uses artificial intelligence to analyze audio data to the International Space Station (ISS) at the end of 2019, Bosch announced in 2020 it was part of a project which was awarded $5.8 million through NASA’s Tipping Point program to develop a system for magnetic resonance-based wireless charging for use in lunar settings. This includes the precise autonomous navigation of robots to the wireless charging station. The project showcases Bosch’s expertise in AIoT, as Bosch will contribute AI-driven intelligent data analytics and wireless connectivity solutions to the project. Bosch researchers in Pittsburgh and Sunnyvale, Calif. will focus on intelligent processing capability that will enable autonomous navigation of robots on the Moon’s surface.

Bosch reached carbon neutrality goal at its 400 locations worldwide

Bosch is pressing ahead with its climate action targets as planned, and has reached a major milestone with the climate-neutral status of its more than 400 locations worldwide in spring 2020. This has already been confirmed by independent testing. As a result, Bosch is the first global industrial company whose own locations no longer leave a carbon footprint – this also includes the sites in North America. Many of the company´s activities across North America have contributed to achieving this goal, with energy efficiency as a primary lever. For example, the Charleston facility is one of more than 100 Bosch locations worldwide that have deployed the Bosch cloud-based-energy platform, which applies intelligent algorithms to reduce the energy consumption of machines and thus increases the efficiency of production processes.

Another example is Bosch Rexroth’s facility in Fountain Inn, South Carolina, which requires an incredible amount of electricity for its mobile hydraulics production. It now has the first large-scale solar array for the company in North America. In November 2020, the plant started producing energy from 3,300 solar panels spread out over five acres of adjacent land. The energy produced feeds directly into the plant and can provide roughly 25 percent of the power for one of the campus buildings.

The company continues to bring ecological solutions via its product portfolio as well. Bosch Home Appliances recently announced it has received the 2021 ENERGY STAR Partner of the Year Award from the U.S. Department of Energy.

Bosch also aims to reduce CO₂ emissions along its entire value chain, from suppliers to customers, by 15 percent by 2030 from their 2018 level – a reduction of 67 million metric tons of carbon dioxide emissions.

Bosch Group: Outlook for 2021 and strategic course

The Bosch Group achieved a positive result in 2020 despite the coronavirus pandemic and had a successful start to the first quarter of 2021. “Bosch came through the first year of the coronavirus pandemic well,” said Dr. Volkmar Denner, the chairman of the board of management of Robert Bosch GmbH. However, the company expects another challenging year, primarily due to ongoing pandemic risks. To develop new business opportunities on the back of the profound technological and ecological changes currently occurring, Bosch is combining the internet of things (IoT) with artificial intelligence (AI) and is concentrating on electromobility. “We are one of the winners in the transition to electromobility, and we are significantly expanding our software business by tying in artificial intelligence,” said Denner.

Global efforts to combat climate change are boosting electrification and green hydrogen. Electrification offers Bosch new opportunities in several business areas, since it requires solutions not only for electric driving in cars, but also for electric heating in buildings. In powertrain technology, electromobility is establishing itself as Bosch’s core business. Fuel cells convert hydrogen into electricity, and Bosch is developing both stationary and mobile fuel-cell solutions. From 2021 to 2024, Bosch plans to invest $1.2 billion (1 billion euros) in fuel-cell technology.

About Bosch

Having established a regional presence in 1906 in North America, the Bosch Group employs 34,700 associates in more than 100 locations, as of December 31, 2020. In 2020, Bosch generated consolidated sales of $12.3 billion in the U.S., Canada and Mexico. For more information, visit www.bosch.us, www.bosch.ca and www.bosch.mx.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 395,000 associates worldwide (as of December 31, 2020). The company generated sales of $81.7 billion in 2020. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 126 locations across the globe, Bosch employs some 73,000 associates in research and development, as well as roughly 30,000 software engineers.

Additional information is available online at www.bosch.us, www.iot.bosch.com, https://us.bosch-press.com/, https://twitter.com/BoschPress

Exchange rate: 1 EUR = 1.1422

 

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Rainbow Robotics begins pre-orders of Bimanual Mobile Manipulator RB-Y1, the world’s first research platform for AI experts for $80,000 USD

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DAEJEON, South Korea, May 9, 2024 /PRNewswire/ — Rainbow Robotics(CEO Jungho Lee), a robot platform specialized company, will begin pre-orders for the Bimanual Mobile Manipulator RB-Y1 from May 8.

During the pre-order period, the research platform is sold for $80,000 USD and the commercial platform is sold for $120,000 USD (VAT excluded). Products are scheduled to be delivered sequentially starting in October.
RB-Y1 is a research platform that has both arms with 7 degrees of freedom per arm for smooth movements similar to human movements. It is a humanoid-like robot with a single leg with 6 degrees of freedom on a mobile platform for a wide work radius. The LiDAR system is adopted for autonomous movement, and a high-performance 3D recognition sensor and master ARM are provided as options to increase usability. In line with the recent trend of the AI era, Rainbow Robotics plans to provide various APIs and options so that AI developers can easily utilize them for research purposes.
Recently, various organizations are introducing humanoid robots. However, they are only used for their own purposes and there is no standard platform for various AI robot researchers. Rainbow Robotics’ RB-Y1 is the first to commercially sell such a research platform.
Unlike existing simple industrial robots, a Bimanual Mobile Manipulator is a humanoid robot that uses both arms and is suitable for advanced manufacturing sites and services. It is a next-generation robot platform that can be used for complex assembly, manufacturing, and collaboration beyond existing simple automation processes.
If you would like to pre-order RB-Y1, please contact us through enquiry page or email us at [email protected].
Meanwhile, Rainbow Robotics will participate as a bronze sponsor in the IEEE International Conference on Robotics and Automation (ICRA 2024), which will be held at Pacifico Yokohama, Japan on May 13.
During the exhibition, various demonstrations will be shown of controlling RB-Y1 with real-time remote operation technology, which links the data arm and simulation system. Additionally, Rainbow Robotics plans to exhibit the small, high-precision collaborative robot RB3-730 and the quadruped robot RBQ-10.
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AgriBusiness Global™ Announces 2024 Event Line-Up: Connecting Crop Input Leaders Worldwide

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WILLOUGHBY, Ohio, May 8, 2024 /PRNewswire/ — AgriBusiness Global, the premier business source for leaders in the global crop input value chain, is thrilled to announce its lineup of events for 2024. For 37 years, AgriBusiness Global has been the go-to resource for quality, trustworthy information and analysis, leading the industry in providing the next generation of crop solutions covering synthetic crop protection, biologicals, and plant health.

In 2024, AgriBusiness Global will host three events, each designed to connect industry leaders, promote innovation, and drive business growth:
AgriBusiness Global℠ LATAM Conference Date: 14-15 MayLocation: Panama City, Panama
Capitalizing on Emerging Technologies in LATAM
The ABG LATAM Conference will bring together industry experts and influencers to discuss the latest trends and developments in crop protection, plant health, biologicals, and ag technology specific to the Latin American region. The Latin-American market offers new opportunities for business growth and partnerships with leading players in the region. Learn More>
AgriBusiness Global℠ Trade Summit Date: 7-8 AugustLocation: Orlando, Florida, USA
The #1 Global Agribusiness Event- Dedicated to Worldwide Networking and New Business Development               
The ABG Trade Summit is the trusted forum for advancing development in the rapidly emerging global crop protection, ag tech, plant health, and biological sectors. Attendees can expect to meet with the world’s leading manufacturers, exporters, trading companies, sellers, formulators, and consultants.  Trade Summit facilitates global trade by offering educational sessions, a robust exhibit floor, private meeting rooms, and dedicated networking opportunities for the world market to connect, engage, and build business. Learn More>
AgriBusiness Global℠ SE Asia ConferenceDate: 6-7 NovemberLocation: Jakarta, Indonesia
Empowering Southeast Asia’s AgriBusiness for Global Impact
The ABG Southeast Asia Conference, produced in cooperation with the Indonesian CropCare Association, will showcase cutting-edge technologies and innovations in crop production, addressing the unique challenges and opportunities in the Southeast Asian market. Attendees will gain unique insights to prepare for the future and navigate the present in the rapidly evolving agricultural market. Learn More>
“Our events are dynamic platforms for industry leaders to connect, collaborate, and drive innovation,” said Eric Davis, Group Director at AgriBusiness Global. “We are excited to bring together the brightest minds in the industry to explore new ideas, foster partnerships, and shape the future of agriculture.”
For information about the 2024 events and how to participate, visit AgriBusinessGlobal.com.
About Meister Media Worldwide
For media inquiries, please contact:Amy Reddington, Show Director
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Economic Shifts Ahead as AI Integrates Deeply into Work and Society, Fueling $4.4 Trillion Growth

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USA News Group News Commentary
Issued on behalf of Scope AI Corp.
VANCOUVER, May 8, 2024 /PRNewswire/ —  USA News Group News Commentary – New developments in AI technology are currently changing the face of work, economies, and society as we know it, according to analysts at McKinsey & Company who are projecting generative AI (gen AI) could add $4.4 trillion annually to the global economy. Between January and March of this year alone, the world’s largest cloud-computing giants have collectively invested $40 billion mostly into data centres equipped to deal with growing AI workloads, according to The Economist. The shift is leading experts to witness how AI companies are leading a transition from Software-as-a-Service to Service-as-Software, turning the table on the very essence of SaaS, representing a $4.6 trillion opportunity. A variety of tech companies have recently advanced the integration of AI, providing swift, safe, and cost-effective solutions for businesses to adopt artificial intelligence technology this past week, including: Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), and C3.ai, Inc. (NYSE: AI).

The article continued: Seeing the extraordinary speed of AI’s advancements and impacts, combined with surging private- and public-sector demand, is causing regulators in the USA and EU to issue legislation calling for action. Now analysts are trying to determine whether the GenAI boom is setting up to be another bubble, or a legitimate long-term investment opportunity.
SCOPE AI PROVIDES CORPORATE UPDATE
Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) today provided an update  on new developments of Scope’s artificial intelligence driven recognition technology called GEM (General Enterprise Machine Learning) system. Built on advanced visual recognition and neural network technology, GEM could advance industries, including Advertising and Gaming, by providing them with new insights and capabilities.
Advertising: GEM aims to enable advertising businesses to personalize ad content based on real-time user behavior analysis. By leveraging visual recognition technology, companies can create highly targeted and engaging ads, maximizing return on ad spend and driving customer engagement to new heights.
Gaming:  In the gaming industry, GEM aims to enhance user experiences by customizing gameplay and recommendations. By analyzing player behavior using neural networks, GEM provides customers and developers with invaluable insights with the intention of optimizing game design, increasing user retention, and maximizing revenue potential.
Unveiling Neural Networks: Neural networks are the foundation of GEM’s technology. These complex algorithms mimic the structure and functionality of the human brain, enabling machines to learn from vast amounts of data and make intelligent predictions and decisions. By harnessing the power of neural networks, GEM offers comprehensive capabilities in advanced pattern recognition, data analysis, and decision-making across industries.
“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure”, said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. “The next generation of our platform will set us apart in the kind and sensitivity of data we can process and store. It’s a potential game-changer for the industry.”
Scope’s GEM platform includes advanced features designed to enhance user experience and security, all while streamlining operations. Built-in customer support and user management modules allow for seamless assistance, while the native referral system fosters user engagement and growth. Along with the full admin suite for comprehensive analysis and reporting, businesses are fully empowered with unparalleled capabilities and insights.
CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
In other industry developments and happenings in the market this week include:
Meta Platforms, Inc. (NASDAQ: META), the parent company of Facebook, Instagram, and WhatsApp, recently teamed up with the Georgia Institute of Technology to create a massive open dataset to advance AI solutions for carbon capture, a technology with promising potential to address global climate concerns. As per the collaboration, Georgia Tech and Meta say their massive database could potentially make it easier and faster to design and implement new direct air capture technologies.
“The open-source database enabled the team to train an AI model that is orders of magnitude faster than existing chemistry simulations,” said Georgia Tech in a press release. “The project, named OpenDAC, could accelerate climate solutions the planet desperately needs.”
Researchers at Meta’s Fundamental AI Research (FAIR) team were already looking for ways to harness their machine-learning prowess to address climate concerns. They ultimately landed on direct air capture as what they believed to be a promising technology, and immediately reached out to Georgia Tech. FAIR’s lead authors generated the database by running quantum chemistry computations on inputs provided by Georgia Tech’s team, using about 400 million CPU hours along the way, and surpassing several hundreds of times more computing than the average academic computing lab can do in a year.
Amazon.com, Inc. (NASDAQ: AMZN) through its global Amazon Web Services (AWS) cloud system subsidiary recently rolled out its new AI system called Q, which it has dubbed as “the most capable generative artificial intelligence (AI)-powered assistant for accelerating software development and leveraging companies’ internal data.”
As well, Amazon also recently launched its Custom Model Import for Bedrock tool, which CEO Andy Jassy called a “sneak big launch as it satisfies a customer request we’ve heard frequently and that nobody has yet met.” The tool allows customers to import custom models they’ve built in Amazon SageMaker into tits Amazon Bedrock platform. Doing so lets enterprises utilize AI investments they’ve already made, while also leveraging Bedrock’s capabilities to scale their models and applications.
“Customers are excited about this, and as more companies find they’re employing a mix of custom-built models along with leveraging existing LLMs,” said Jassey. “The prospect of these two linchpin services in SageMaker and Bedrock working well together is quite appealing.”
Apple Inc. (NASDAQ: AAPL), whose iPhones currently hold the Top 4 (and 5 of the Top 10) best-selling smartphone models by sales, recently reported an all-time revenue record in sales in its most recent financial results. While being seen as potentially late to the game on AI, several reports in recent weeks has suggested that Apple is not only talking to OpenAI and/or Google about powering some of its AI features, it’s also been reportedly spending “millions of dollars a day” training its own AI model, called Ajax.
Now industry experts are saying the iPhone is about to become an “AI phone”, in anticipation of Apple’s upcoming iOS 18. A key anticipated feature of iOS 18 is Apple’s own large language model (LLM), similar to the technology behind AI chatbots like ChatGPT. It’s widely speculated that this Apple-developed LLM will be integrated with Siri, enhancing the capabilities of the iPhone’s digital assistant. As indicated by Bloomberg in late April, it’s suggested that Apple’s  LLM will be entirely on-device, meaning the tech will be powered inside by the iPhone’s processor, rather than in the cloud—which may be a bit less powerful and knowledgeable, but with far quicker response times.
C3.ai, Inc. (NYSE: AI), an Enterprise AI application software company, is actively working to enhance the petroleum industry in Houston, through a cooperative effort that allows oil and gas companies to share AI technology and applications with each other. This effort is meant to curb companies from withholding information from competitors, with the goal of collaboration instead.
“We’re building the applications that are, you know, monitoring every device on every offshore oil rig in real time so that they can see with 18 hours in advance before something fails and just shut it down,” said Tom Siebel, CEO of C3.ai. Siebel has explained that AI is at work in oil and gas, diagnosing issues and assisting with maintenance, giving the example of a giant like Shell uses AI to track their half a million valves around the world.
“They can see what’s going on,” said Siebel. “They can predict when a valve is going to be stuck open or closed before it happens, and if one of these valves gets stuck open or closed, things go real bad, real fast, right? And so, they’ve decided to make these applications available to Aramco, Eni, Chevron, Phillips.”
A recent report from Research and Markets predicted that the global AI in oil and gas market is expected to surge to an impressive $5.96 billion by 2028, growing at a CAGR of 13.3%.
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
 CONTACT:USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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