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Artificial Intelligence

The Global AI In Retail Market size is expected to reach $24.1 billion by 2028, rising at a market growth of 24.4% CAGR during the forecast period

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New York, Oct. 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global AI In Retail Market Size, Share & Industry Trends Analysis Report By Technology, By Sales Channel, By Component, By Application, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06352693/?utm_source=GNW
By employing AI-driven sales and demand forecast accuracy to optimize inventory, for example, merchants may maintain agility while enabling personalization.

Physical stores are still the leader in retail, but they must operate in very competitive markets. Similar to physical stores, digital stores compete in a market where they can easily access their rivals. Retailers can utilize AI to enhance the shopping experience for customers and acquire the competitive edge they need to remain relevant.

For instance, AI-powered virtual personal assistants and chatbots on a website provide customers personalized recommendations or dynamic pricing depending on their usage of the site, past purchases, and other pertinent information. Retail AI application cases exist in actual stores as well, utilizing data sources including in-store customer interactions via mobile devices and through sensors.

Using an algorithm that has been trained with sales data and other pertinent information, retail store owners can even utilize AI to optimize the layout of their stores. This aids in forecasting outcomes, such as a person’s propensity to purchase two things simultaneously if they are exhibited near to one another. The retail industry is changing as a result of artificial intelligence (AI). Retailers can use AI to engage with their consumers and run more effectively, from utilizing computer vision to tailor promotions in real time to leveraging machine learning for managing inventory.

COVID-19 Impact Analysis

Due to the WFH policy brought on by this pandemic, the COVID-19 outbreak is anticipated to accelerate the market growth of next-generation tech fields, including artificial intelligence. In order to increase availability across the globe, tech companies are also increasing the range of products and services they offer. Therefore, the integration of AI significantly increased within the retail industry. Hence, the growth of the market was steadily hampered, however, the increased utilization of AI augmented the growth of AI in the retail industry.

Market Growth Factors

Higher Efficiency In Saving Cost And Optimizing The Experience

AI comprises the ability to drastically change retailing in coming years, impacting everything from cost structures to the shopping experience. E-commerce and AI go hand in hand, and the coronavirus pandemic’s acceleration of e-commerce growth rates makes AI adoption even more imperative. AI advantages will transform the industry. Retailers must therefore start making plans right away. And not just technology should be included in those plans, but also business strategy.

Higher Supply Chain Capabilities

As a whole, one of the main advantages of artificial intelligence is that it can assist people with repetitive, time-consuming jobs. A significant number of workers believe that the increased adoption of AI in the workplace has improved productivity. And when AI is used in retail, the same thing may occur. Drivers in the logistics industry can use AI to discover the best delivery routes. Additionally, robots can assist with choosing and packing orders, freeing up staff members to work on other crucial activities.

Market Restraining Factors

High Costs As Well As Lack Of The Ability To Improve

It is an impressive achievement when a machine can imitate human intelligence. However, the initial cost of AI is very high in such operations. It can be very expensive and takes a lot of time and resources. AI is highly expensive because it requires the newest software and hardware to function in order to stay updated and meet criteria. Artificial intelligence is a technology that cannot be created by humans since it is pre-programmed with knowledge and experience.

Component Outlook

On the basis of Component, the AI in Retail Market is bifurcated into Solutions and Services. In 2021, the solution segment acquired the largest revenue share of The AI in retail market. The management issues facing a number of retail operations are encouraging the development of new automated technology. Retailers can manage warehouse management, supply chain operations, and logistics, and enhance the customer experience with the use of AI-powered solutions.

Technology Outlook

Based on the Technology, the AI in Retail Market is segregated into Machine Learning, Natural Language Processing, Chatbots, Image and Video Analytics, and Swarm Intelligence. In 2021, the machine learning segment procured the highest revenue share of the AI in retail market. The growth of the segment is rising due to the higher precision and flexibility of this technology. Machine learning is appropriate for providing customers with individualized experiences because it serves data quickly and deeply.

Sales Channel Outlook

By Sales Channel, the AI in Retail Market is segmented into Omnichannel, Brick and Mortar, and Pure-play Online Retailers. In 2021, the pure-play segment acquired a significant revenue share of the AI in retail market. The growing popularity of online and virtual shopping is expected to accelerate the development of pure-play internet merchants. AI, IoT, and social media would proliferate, which would lead to an expansion of the AI in retail market.

Application Outlook

On the basis of Application, the AI in Retail Market is classified into Customer Relationship Management (CRM), Supply Chain and Logistics, Inventory Management, Product Optimization, In-Store Navigation, Payment and Pricing Analytics, and Virtual Assistant. In 2021, the customer relationship management (CRM) segment witnessed the largest revenue share of the Ai in retail market. A strong need to improve customer service and retention would propel the CRM industry to prominence. Retail suppliers may foster consumer loyalty and solid customer connections with the help of AI-powered virtual assistance, search engines, chatbots, and other technologies.

Regional Outlook

Region-Wise, the AI in Retail Market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2021, North America accounted for the largest revenue share of the Ai in retail market. As considerable investments are made in AI projects along with related research and development initiatives, there is potential for industrial expansion. Regional retail suppliers are also focusing on extracting the available data on consumer preferences to increase the effectiveness of their customer care. The market leaders use both organic and inorganic techniques in order to grow.

The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the AI In Retail Market. Companies such as Amazon Web Services, Inc. (Amazon.com, Inc.), Intel Corporation and NVIDIA Corporation are some of the key innovators in AI In Retail Market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Salesforce.com, Inc., NVIDIA Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Google LLC, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, and ViSenze Pte Ltd.

Recent strategies deployed in AI In Retail Market

Partnerships, Collaborations & Agreements:

Sep-2022: Microsoft partnered with Infosys, an Indian multinational information technology company. Through this partnership, the companies aimed to enable businesses to swiftly redefine customer experiences, amplify systems with cloud and data, and renew processes.

Jun-2022: NVIDIA came into a partnership with Siemens, a German multinational conglomerate. Through this partnership, the companies aimed to integrate Siemens Xcelerator and NVIDIA Omniverse in order to offer an industrial metaverse along with physics-based digital models.

Jun-2022: Google entered into a partnership with the H&M Group, a global fashion retailer. Through this partnership, the companies aimed to design and develop an enterprise data backbone encompassing a core data platform, advanced AI and ML capabilities, and data products.

Jun-2022: Oracle joined hands with Komax, a retail group. Following this collaboration, Oracle would offer its Retail suite of services over its cloud infrastructure to Komax in order to help the business in introducing the latest clothing, accessories, and shoes from a range of popular brands to customers across Latin America.

Apr-2022: SAP entered into a partnership with Kyndryl, a leading IT infrastructure services provider. With this partnership, the companies aimed to focus on bringing novel solutions to address the most complex digital business transformation challenges of customers.

Mar-2022: NVIDIA teamed up with Kroger, an American retail company. With this collaboration, the companies aimed to improve the shopping experience for customers through AI-enabled services and applications.

Mar-2022: Microsoft came into an agreement with ASOS, a British fashion retailer. With this agreement, the companies aimed to jointly work on a new project intending to expedite their strategic growth plans of Microsoft. Moreover, this partnership would also allow companies to meet the rising demand for better product availability along with personalized and seamless digital experiences.

Feb-2022: AWS partnered with Kyndryl, an American multinational information technology infrastructure services provider. Following this partnership, the companies aimed to establish a Cloud Center of Excellence in order to develop joint solutions, including mission-critical infrastructure services, mainframe services, and network and edge computing services.

Jan-2022: Microsoft joined hands with Tata Consultancy Services, an Indian multinational information technology services and consulting company. This collaboration aimed to develop and commercialize the newly launched Microsoft Cloud. furthermore, the new solution aimed to aid customers in expediting their transformation and growth journey.

Jan-2022: Google came into a partnership with NCR Corporation, an American software, consulting, and technology company. Following this partnership, the companies aimed to develop an additional platform along with new capabilities, such as AI and ML. This partnership aimed to offer access to best-in-class tools along with seamless flexibility to retailers in order to provide enhanced in-store experiences for consumers.

Sep-2021: Microsoft expanded its partnership with Honor, a smartphone brand. Under this expanded partnership, Honor would leverage AI translation as well as AI speech built or on Microsoft Azure. In addition, these services would support Honor’s YOYO Smart Assistant.

Jul-2021: Google expanded its partnership with Home Depot, an American multinational home improvement retail corporation. Through this expanded partnership, the companies aimed to advance digital transformation among retailers while also providing enhanced shopping experiences to customers.

Jun-2021: Salesforce came into a partnership with AWS, a subsidiary of Amazon. This partnership aimed to streamline it for customers to leverage the complete range of the capabilities of AWS and Salesforce in order to build and deploy robust new business applications quickly.

Apr-2021: NVIDIA collaborated with Cloudera, an American software company. Following this collaboration, the companies aimed to expedite AI and Data Analytics in the Cloud with a new software that allows businesses to accelerate data pipelines and also expand the performance boundaries of data and machine learning.

Dec-2020: Salesforce teamed up with Yes Bank, an Indian bank. Under this collaboration, Yes Bank would offer personalized and smart customer experiences by leveraging the Salesforce platform to engage customers with a unified experience.

Mar-2020: ViSenze collaborated with Pixibo, a fashion tech company. Under this acquisition, ViSenze would integrate its AI-powered visual commerce capabilities into Pixibo’s fit and size recommendation platform in order to offer suitable goods on the basis of the preferences of the customer.

Product Launches and Product Expansions:

Aug-2022: ViSenze launched ViSenze’s Session-Based Recommendations, a new personalized e-commerce product recommendations solution. The new solution aimed to offer a more customized experience to customers without the requirement for gathering personal data.

Jul-2022: Intel released a set of reference kits. The new solution aimed to allow data developers and data scientists to learn the faster and more convenient deployment of AI within manufacturing, retail, healthcare, and other environments.

Jun-2022: Salesforce rolled out the Sales Cloud Unlimited, a unified platform. With this launch, the company aimed to propel its growth and also turn sales reps into reliable advisors.

Jun-2021: NVIDIA rolled out the NVIDIA AI LaunchPad, a hybrid-cloud providers-delivered comprehensive program. The new solution aimed to offer immediate access to enterprises to NVIDIA-powered software and infrastructure with the aim to facilitate the entire AI lifecycle.

Apr-2021: IBM introduced new capabilities for IBM Watson. With this product expansion, the companies aimed to integrate Time Series capabilities within IBM Watson Studio in beta to address challenges in automating, forecasting, and analyzing time series data.

Apr-2021: Intel launched the new third Gen Intel Xeon Scalable processor, its most advanced artificial intelligence-based data center platform. The new solution aimed to offer a substantial spike in performance in contrast to the older generation.

Jan-2021: Google unveiled a new range of retail AI products. Through this launch, the company aimed to increase its focus on reaching new industry verticals. The new product range is developed for large as well as small businesses in order to allow retailers to offer highly personalized product recommendations to their customers.

Mergers & Acquisitions:

Jul-2022: SAP took over Askdata, a search-driven analytics startup. Following this acquisition, the company aimed to expand its ability to aid businesses in making well-informed decisions through AI-driven natural language searches.

Mar-2022: Microsoft took over Nuance Communications, an American multinational computer software technology corporation. Following this acquisition, the company aimed to integrate the best-in-class conversational AI and ambient intelligence of Nuance into its trusted and secure industry cloud offerings.

Feb-2022: IBM completed its acquisition of Neudesic, a leader in cloud services. Following this acquisition, the company aimed to expand its hybrid multi-cloud services offerings along with accelerating its AI and hybrid cloud strategy.

Jan-2022: Oracle acquired Federos, an IT Services and IT Consulting company. This acquisition aimed to empower service providers through AI-optimized service as well as network analytics, assurance, and automated orchestration.

Apr-2020: NVIDIA acquired Mellanox Technologies, an Israeli-American multinational supplier of computer networking products. With this acquisition, the company aimed to allow customers to experience higher performance, lower operating costs, and increased utilization of computing resources.

Scope of the Study

Market Segments covered in the Report:

By Technology

• Machine Learning

• Natural Language Processing

• Chatbots

• Image & Video Analytics

• Swarm Intelligence

By Sales Channel

• Omnichannel

• Brick & Mortar

• Pure-play Online Retailers

By Component

• Solution

• Services

By Application

• Customer Relationship Management (CRM)

• Supply Chain & Logistics

• Inventory Management

• Product Optimization

• In-Store Navigation

• Payment & Pricing Analytics

• Virtual Assistant

By Geography

• North America

o US

o Canada

o Mexico

o Rest of North America

• Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

• Asia Pacific

o China

o Japan

o India

o South Korea

o Singapore

o Malaysia

o Rest of Asia Pacific

• LAMEA

o Brazil

o Argentina

o UAE

o Saudi Arabia

o South Africa

o Nigeria

o Rest of LAMEA

Companies Profiled

• Intel Corporation

• Salesforce.com, Inc.

• NVIDIA Corporation

• Amazon Web Services, Inc. (Amazon.com, Inc.)

• Google LLC

• IBM Corporation

• Microsoft Corporation

• Oracle Corporation

• SAP SE

• ViSenze Pte Ltd

Unique Offerings

• Exhaustive coverage

• Highest number of market tables and figures

• Subscription based model available

• Guaranteed best price

• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06352693/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.

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Artificial Intelligence

More than $9 Million Awarded to High School Scientists and Engineers at the Regeneron International Science and Engineering Fair 2024

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Grace Sun, 16, receives $75,000 Top Award for a new kind of organic electrochemical transistor at the world’s largest pre-college science, technology, engineering and math (STEM) competition.
TARRYTOWN, N.Y. and WASHINGTON, May 17, 2024 /PRNewswire/ — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) and Society for Science (the Society) announced that Grace Sun, 16, of Lexington, Kentucky, won the $75,000 top award, the George D. Yancopoulos Innovator Award, named in honor of the pioneering drug researcher and Regeneron co-Founder, Board co-Chair, President and Chief Scientific Officer, in the 2024 Regeneron International Science and Engineering Fair (Regeneron ISEF), the world’s largest pre-college science and engineering competition. Other top prizes went to projects in second-order cone programming, microplastics filtration and multi-sensory therapy for dementia.

The top winners were honored during two award ceremonies: the Special Awards on May 16 and the Grand Awards Ceremony on the morning of May 17. In total, over $9 million USD was awarded to the finalists based on their projects’ creativity, innovation and depth of scientific inquiry. The competition featured nearly 2,000 young scientists representing 49 U.S. states and nearly 70 countries, regions and territories across the world.
Grace Sun, 16, of Lexington, Kentucky, won first place and received the $75,000 George D. Yancopoulos Innovator Award for her research on building a better organic electrochemical transistor that she hopes will be used to develop new electronic devices that could help detect and treat serious illnesses like diabetes, epilepsy and organ failure. To overcome the problems that have previously prevented such devices from working effectively inside the body, Grace developed a new way of chemically treating their organic components, which greatly improved their laboratory performance.
Michelle Wei, 17, of San Jose, California, received one of two Regeneron Young Scientist Awards of $50,000 for her research to improve the speed and efficiency of a type of software that is useful in many fields such as machine learning, transportation and financial systems. Michelle’s new approach involved determining a quick approximate solution to the second-order cone programming problem, then splitting the initial cone into smaller cones, which enabled her new algorithm to greatly outperform previous approaches.
Krish Pai, 17, of Del Mar, California, received the second Regeneron Young Scientist Award of $50,000 for his machine-learning research to identify microbial genetic sequences that can be modified to biodegrade plastic. His new software, called Microby, scans databases of microorganisms and determines which ones can be changed genetically to biodegrade plastics. In tests, he identified two microorganisms that can be genetically modified to degrade plastic at a cost he believes would be ten times less than traditional recycling.
 “Congratulations to the Regeneron International Science and Engineering Fair 2024 winners,” said Maya Ajmera, President and CEO, Society for Science and Executive Publisher, Science News. “I’m truly inspired by the ingenuity and determination shown by these remarkable students. Coming from around the world with diverse backgrounds and academic disciplines, these students have shown that it is possible to come together in unity to tackle some of the toughest challenges facing our world today, and I could not be prouder.”
Regeneron ISEF provides a global stage for the world’s best and brightest young scientists and engineers. Through this competition, Regeneron and the Society are fostering the next generation of STEM leaders who are pioneering solutions to improve our world. Since 2020, Regeneron has provided STEM experiences to approximately 2.4 million students, on track to meet its goal of 2.5 million by 2025.
“The talent, intelligence and potential of this year’s Regeneron ISEF finalists is truly inspiring, and I congratulate each on their remarkable achievements,” said George D. Yancopoulos, M.D., Ph.D., co-Founder, Board co-Chair, President and Chief Scientific Officer of Regeneron. “Science competitions like ISEF were pivotal in shaping my own career and fueling my passion to fight back against disease. I look forward to seeing these students continue to push the boundaries of science and technology to create positive and sustainable change for all humanity.”
Other top honors from the competition include:
Justin Huang and Victoria Ou, both 17, of Woodlands, Texas, received the Gordon E. Moore Award for Positive Outcomes for Future Generations of $50,000 for their new prototype filtration system that uses ultrasonic waves to remove microscopic plastic particles from water. In lab tests, the acoustic force from the high-frequency sound waves removed between 84% and 94% of the suspended microplastic particles in a single pass. The students are now working to scale up and fine-tune their experimental system.
Ingrid Wai Hin Chan, 17, of Hong Kong, China received the Craig R. Barrett Award for Innovation of $10,000 for her research on using a multi-sensory therapy for dementia patients. Her mixed therapy app would allow patients to practice physical and cognitive skills through a personalized, immersive environment using virtual reality headsets. Ingrid conducted an eight-week study with six people living with dementia and found that the cognitive function of patients who used her prototype improved in several areas. She believes her app could serve as a viable option for dementia patients with limited access to in-person professional therapy.
Tanishka Balaji Aglave, 15, of Valrico, Florida, received the H. Robert Horvitz Prize for Fundamental Research of $10,000 for her investigation into a natural alternative treatment against citrus greening, a disease that threatens citrus farming in many parts of the world and is currently only treated with antibiotics. Tanishka injected the trunks of infected trees with an extract from the curry leaf tree, and found through tests that this potential method could effectively and sustainably manage citrus greening disease.
Maddux Alexander Springer, 18, of Honolulu, Hawaii, received the Peggy Scripps Award for Science Communication of $10,000 for his research into fibropapillomatosis (FP), a disease that is the primary cause of death in green sea turtles. Some turtles he studied in Kaneohe Bay, Hawaii, were stricken with a disease that causes internal and external tumors that inhibit their everyday lives. After analyzing the turtles’ diet of green algae, Maddux concluded that this disease, wastewater, invasive algae and the amino acid arginine all pose a grave risk to these endangered sea creatures.
Ria Kamat, 17, of Hackensack, New Jersey; Anna Oliva, 17, of Houston, TX; and Shuhan Luo, 18, of Worcester, MA, received the Dudley R. Herschbach SIYSS Award, which provides finalists an all-expense paid trip to attend the Stockholm International Youth Science Seminar during Nobel Week in Stockholm, Sweden.
Jack Shannon, 18, of Clane, Kildare, Ireland, and Nikhil Vemuri, 17, of Cary, North Carolina, received the EU Contest for Young Scientists Award. Their projects will represent Regeneron ISEF at the EU Contest for Young Scientists to be held this September in Katowice, Poland.
For more information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
The full list of Special Award ISEF 2024 Finalists can be found at https://www.societyforscience.org/press-release/regeneron-isef-2024-special-awards-winners.
In addition to the Top Award winners, more than 450 finalists received awards and prizes for their innovative research, including “First Award” winners, who each received a $5,000 prize.
The following lists the First Award winners for each of the 22 categories, from which the Top Awards were chosen:
Animal Sciences, sponsored by Society for ScienceMaddux Alexander Springer, Honolulu, Hawaii
Behavioral and Social Sciences, sponsored by Society for ScienceAndrew Y. Liang, San Jose, California
Biochemistry, sponsored by RegeneronAmy Hong Xiao, Garden City, New York
Biomedical and Health Sciences, sponsored by RegeneronRia Kamat, Hackensack, New Jersey; Kevin Xuan Lei, Shanghai, China
Biomedical Engineering, sponsored by Alfred E. Mann CharitiesAyush Garg, Dublin, California; Divij Motwani, Palo Alto, California; Akash Ashish Pai, Portland, Oregon
Cellular and Molecular Biology, sponsored by RegeneronLara and Maya Sarah Hammoud, Beverly Hills, Michigan
Chemistry, sponsored by Society for ScienceAkilan Sankaran, Albuquerque, New Mexico; Arjun Suresh Malpani and Siddharth Daniel D’costa, Portland, Oregon
Computational Biology and Bioinformatics, sponsored by RegeneronKun-Hyung Roh, Bronx, New York
Earth and Environmental Sciences, sponsored by Google.orgNikhil Vemuri, Durham, North Carolina; Justin Yizhou Huang and Victoria Ou, The Woodlands, Texas
Embedded Systems, sponsored by HPChloe Rae and Sophie Rose Filion, Welland, Ontario, Canada
Energy: Sustainable Materials and Design, sponsored by Siemens EnergyAlia Wahban, Hamilton, Ontario, Canada
Engineering Technology: Statics and Dynamics, sponsored by Howmet Aerospace FoundationChiyo Nakatsuji, Bunkyoku, Tokyo, Japan; Kevin Shen, Olympia, Washington
Environmental Engineering, sponsored by JacobsKrish Pai, San Diego, California; Jack Shannon, Clane, Kildare, Ireland
Materials Science, sponsored by Howmet Aerospace FoundationGrace Sun, Lexington, Kentucky
Mathematics, sponsored by Akamai FoundationAnna Oliva, Houston, Texas
Microbiology, sponsored by Schattner FoundationMatthew Chang, Irvine, California
Physics and Astronomy, sponsored by Richard F. Caris Charitable Trust IIHarini Thiagarajan and Vishal Ranganath Yalla, Bothell, Washington; Shuhan Luo, Worcester, Massachusetts
Plant Sciences, sponsored by Society for SciencePauline Estrada, Fresno, California; Tanishka Balaji Aglave, Dover, Florida
Robotics and Intelligent Machines, sponsored by RegeneronMichal Lajciak, Dubnica nad Vahom, Trenciansky kraj, Slovakia; Anthony Efthimiadis, Oakville, Ontario, Canada
Systems Software, sponsored by MicrosoftMichelle Wei, San Jose, California
Technology Enhances the Arts, sponsored by Society for ScienceAnant Khandelwal, Sritan Motati and Siddhant Sood, Alexandria, Virginia
Translational Medical Science, sponsored by RegeneronZheng-Chi Lee, West Lafayette, Indiana; Ingrid Wai Hin Chan, Hong Kong, China
The full list of all award-winning ISEF 2024 finalists is available here: https://www.societyforscience.org/press-release/regeneron-isef-2024-full-awards.
View all the finalists’ research here: https://projectboard.world/isef.
About the Regeneron International Science and Engineering FairThe Regeneron International Science and Engineering Fair (Regeneron ISEF), a program of Society for Science for over 70 years, is the world’s largest global science competition for high school students. Through a global network of local, regional and national science fairs, millions of students are encouraged to explore their passion for scientific inquiry. Each spring, a group of these students is selected as finalists and offered the opportunity to compete for approximately U.S. $9 million in awards and scholarships.
In 2019, Regeneron became the title sponsor of ISEF to help reward and celebrate the best and brightest young minds globally and encourage them to pursue careers in STEM to positively impact the world. Regeneron ISEF is supported by a community of additional sponsors, including Akamai Foundation, Alfred E. Mann Charities, Aramco, Caltech, Google.org, Gordon and Betty Moore Foundation, Howmet Aerospace Foundation, HP, , Jacobs, King Abdulaziz & his Companions Foundation for Giftedness and Creativity, Microsoft, National Geographic Society, Richard F. Caris Charitable Trust II, Rise, an initiative of Schmidt Futures and the Rhodes Trust, Schattner Foundation, Siemens Energy, Annenburg Foundation, Ballmer Group, Broadcom Foundation, Cesco Linguistic Services, Conrad N. Hilton Foundation, Edison International, Insaco, Oracle Academy, The Eli and Edythe Broad Foundation, The Ralph M. Parsons Foundation and US Army ROTC. Many are entrepreneurs across a wide range of industries. Learn more at https://www.societyforscience.org/isef/.
About Society for ScienceSociety for Science is a champion for science, dedicated to promoting the understanding and appreciation of science and the vital role it plays in human advancement. Established in 1921, Society for Science is best known for its award-winning journalism through Science News and Science News Explores, its world-class science research competitions for students, including the Regeneron Science Talent Search, the Regeneron International Science and Engineering Fair and the Thermo Fisher Scientific Junior Innovators Challenge, and its outreach and equity programming that seeks to ensure that all students have an opportunity to pursue a career in STEM. A 501(c)(3) membership organization, Society for Science is committed to inform, educate and inspire. Learn more at www.societyforscience.org and follow us on Facebook, Twitter, Instagram and Snapchat (Society4Science).
About RegeneronRegeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases and rare diseases. 
Regeneron believes that operating as a good corporate citizen is crucial to delivering on our mission. We approach corporate responsibility with three goals in mind: to improve the lives of people with serious diseases, to foster a culture of integrity and excellence and to build sustainable communities. Regeneron is proud to be included on the Dow Jones Sustainability World Index and the Civic 50 list of the most “community-minded” companies in the U.S. Throughout the year, Regeneron empowers and supports employees to give back through our volunteering, pro bono and matching gift programs. Our most significant philanthropic commitments are in the area of early science education, including the Regeneron Science Talent Search and the Regeneron International Science and Engineering Fair (ISEF).
For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.
More information about the top winners and access to visual assets visit:  https://www.societyforscience.org/isef-2024-media-kit.
Media ContactsJoseph Brown, [email protected]
Gayle Kansagor, Society for [email protected]
Photo – https://mma.prnewswire.com/media/2416174/Regeneron_ISEF_2024_Winners_Photo.jpg 
Logo – https://mma.prnewswire.com/media/2416197/Society_for_Science_Logo.jpg 

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Artificial Intelligence

J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Announce Winner of Inaugural 2024 Life Sciences Innovation Summit

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In conjunction with Abu Dhabi Global Healthcare Week 2024
ABU DHABI, UAE, May 17, 2024 /PRNewswire/ — J.P. Morgan Life Sciences Private Capital, Blue Horizon Advisors and United Al Saqer Group announced today Rayees Rahman of Harmonic Discovery as the winner of the inaugural J.P. Morgan Asset Management: Life Sciences Innovation Summit. Harmonic Discovery is a precision pharmacology company applying its generative chemistry platform to advance next-generation kinase inhibitors.

In partnership with the Department of Health – Abu Dhabi (DoH), the Summit took place on May 14-15, 2024 at Cleveland Clinic Abu Dhabi and showcased the 11 innovative finalists, as well as highlighted existing innovators and opportunities in the Emirate of Abu Dhabi. The event also featured keynote speeches from Dr. Laurie Glimcher of Dana-Farber Cancer Institute, Dr. Shahrukh Hashmi of the Department of Health – Abu Dhabi, and Dr. David Ho of Columbia University Medical Center and provided attendees networking opportunities to gain valuable insights into the future of life sciences innovation. 
In addition, the jury designated Chun-Hao Huang of Algen Biotechnologies as honourable mention. Algen Biotechnologies is a platform therapeutics and drug discovery company using world-leading CRISPR and AI to find treatments for cancer, inflammation and metabolic diseases.
The winners were selected by an esteemed, international panel of judges, which included:Laurie Glimcher, MD, President and CEO at Dana-Farber Cancer InstituteJorge Guzman, MD, CEO at Cleveland Clinic Abu DhabiProf. Shahrukh Khurshid Hashmi, MD, Director of Research, Department of Health, Abu DhabiYasmine Hayek Kobeissi, PhD, CQF, BSc., Executive Director at Blue Horizon AdvisorsAnya Schiess, Managing Partner at J.P. Morgan Life Sciences Private CapitalWalid Zaher, PhD, Co-Founder and CEO, Carexso
Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi said: “Under the directives of the UAE’s wise leadership, and renowned for its world-leading medical infrastructure, Abu Dhabi stands at the forefront of healthcare excellence, offering an unparalleled opportunity for advancement in healthcare for global partners. It was our utmost pleasure hosting the J.P. Morgan Asset Management Life Sciences Innovation Summit 2024 on the sidelines of Abu Dhabi Global Healthcare Week and we commend the winners for their pioneering efforts in driving impactful advancements in healthcare; their dedication to innovation not only transforms the landscape of medicine, but also holds the promise of improving lives worldwide.” 
Stephen Squinto, PhD, Chief Investment Officer, J.P. Morgan Life Sciences Private Capital said: “We are thrilled with the level of biotech passion and innovation that we observed at this year’s Summit in Abu Dhabi. The energy was truly palpable we are thrilled to announce Rayees Rahman as the winner of our first Life Sciences Innovation Summit. Harmonic Discovery’s approach embodies the next generation of drug discovery and development. We appreciate the time and effort of all participants and cannot wait for our next event in the region.”
Nabil Kobeissi, Chief Executive Officer of Blue Horizon Advisors, said: “As the main sponsor, we are committed to nurturing and fostering the growth of all 11 finalists in this vibrant biotech ecosystem. This Summit marks the beginning of a transformative journey, and we are confident that it will pave the way for a flourishing hub in the region. We are also pleased to announce that we will commit to invest in and partner with the winner, Harmonic Discovery, to support its future growth in the region.”
Sponsors for the event included J.P. Morgan Life Sciences Private Capital, J.P. Morgan Commercial Bank, Blue Horizon Advisors, United Al Saqer Group, Thermo Fisher Scientific, and Salam Capital. The Summit organisation, logistics and finalist recruitment were facilitated by Lyfebulb.
Of importance, at the Summit, Mr. Mohamed Al Breiki, Executive Director of Sustainable Development at Masdar City, announced that Masdar City Free Zone would award all 11 Finalists complimentary business licenses to further support their establishment in the region. Masdar City is one of the world’s most sustainable urban developments and innovation hubs with a growing focus on life science entrepreneurship in Abu Dhabi.

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Artificial Intelligence

Congregating in the Lion City for a Win-Win Future of Intelligent Computing at the Global Data Center Facility Summit 2024

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congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024

SINGAPORE, May 17, 2024 /PRNewswire/ — On May 17, 2024, the Global Data Center Facility Summit 2024 was held in Singapore with the theme of “Power the Digital Era Forward.” At the summit, over 600 data center industry leaders, technical experts, and ecosystem partners gathered to discuss new trends and opportunities of the global data center industry in the intelligent computing era. The attendees also got to experience all-scenario, all-ecosystem, and all-service end-to-end (E2E) solutions, share innovative practices of green data centers in the Asia Pacific and Europe, and experience the exhibition vehicle to unveil the mystery of Outdoor PowerPOD that features one power system per container. By fully embracing the intelligent computing era, Huawei strives to power the digital era forward.

Seizing Opportunities Brought by AI and Jointly Building Green & Reliable Computing Infrastructure
At the opening speech, Charles Yang, Senior Vice President of Huawei and President of Marketing, Sales and Services, Huawei Digital Power, noted that since ChatGPT ushered in the AI era, large models keep pushing the limits of computing power and the intelligent computing industry is witnessing an unprecedented construction boom. As predicted, 100 GW will be added to the global data center installed capacity and the market value will exceed US$600 billion in the next five years.
According to Charles, with opportunities come challenges. The primary challenge concerning the data center industry is reliability and electricity. Data centers are scaling up from the MW-level to the GW-level. E2E reliability of data centers is becoming even more important than ever. In response to the opportunities, Huawei will work with customers and partners to expand the industry space.
Steering Data Centers to the AI Era with Product + Service + Ecosystem
During the summit, Sun Xiaofeng, President of Huawei Data Center Facility & Critical Power Business, delivered a speech titled “Power the Digital Era Forward. ” He stated that as AI large models are penetrating, the surging compute demands drive the expansive growth in data center.
To address the challenges, Huawei strives to build product + service + ecosystem E2E data center solutions that feature fast deployment, flexible cooling, green energy, and ultimate reliability.
Fast deployment: Data centers are fully modularized and prefabricated to ensure high quality and efficient construction.Flexible cooling: Air-liquid fusion and integrated cooling source emerges as the optimal cooling architecture for intelligent computing.Green energy: New generation-grid-load-storage integrated solution is built to ensure the sound operations of intelligent computing centers.Ultimate reliability: Data centers are safeguarded through reliable products and preventive protection.Currently, Huawei’s global service network covers more than 170 countries with over 1800 professional engineers, providing 24/7 technical support. With N+ flagship service centers, Huawei has built a one-hour service radius for its customers.
The ecosystem is a key part for a win-win future of intelligent computing. Huawei works with partners to develop comprehensive E2E solutions and provide customers with one-stop data center services.
During the summit, Huawei and the ASEAN Centre for Energy released a white paper on “Building Next Generation Data Center Facility in ASEAN.” The document provides insights into the status quo, challenges, and trends of data centers in the ASEAN region, and emphasizes that efficient and energy-saving products and solutions should be applied. It also proposes future-oriented policy recommendations for data center markets.
In the ecosystem exhibition area, Huawei showcased scenario-based solutions for large-, medium-, and small-sized data centers, and demonstrated data center consulting, design, integrated development, and delivery capabilities with dozens of ecosystem partners including CIMC, Weichai, CSCEC, and Huashi.
On a special note, the Huawei Outdoor PowerPOD exhibition vehicle made its global debut. The Huawei Outdoor PowerPOD features one power system per container, outdoor deployment, plug-and-play, and high protection rating and reliability. It has become the preferred choice for decoupling the power supply architecture.
A single tree cannot make a forest.
AI is presenting great opportunities. By delving into the industry, aggregating partner ecosystems, and making innovations applicable to transformations, Huawei will continue to help customers build reliable computing infrastructure, accelerating the industry to embrace AI and powering the digital era forward.
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View original content:https://www.prnewswire.co.uk/news-releases/congregating-in-the-lion-city-for-a-win-win-future-of-intelligent-computing-at-the-global-data-center-facility-summit-2024-302148973.html

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