Artificial Intelligence
Sysorex Reports Growth in Government Services Business and Broadening of Its Data Center Business
HERNDON, Va., Nov. 16, 2022 (GLOBE NEWSWIRE) — Sysorex (OTCQB: SYSX) today provided a business update to its shareholders.
Wayne Wasserberg, CEO of Sysorex, commented, “I am pleased to report our revenue for the third quarter increased by over 85% to $3.5 million, while at the same time, we reduced our operating expenses by nearly 15%. We are more confident than ever in the outlook for our government services business, as illustrated by the rapid growth in our sales pipeline. As a result, we believe our government services business is on a path to long-term, positive cash flow. Moreover, we have broadened and diversified the business model for our TTM Digital Assets & Technology (TTM) subsidiary, following the transition of Ethereum mining from Proof-of-Work to Proof-of-Stake during the third quarter of 2022. We are repurposing certain assets to offer Artificial Intelligence/Machine Learning (AI/ML) processing and general server hosting, which we believe will also provide long-term and sustainable cash flow. Meanwhile, we continue to explore the sale of certain TTM assets, which has the potential to drive significant value for shareholders.”
Sysorex Government Services Update
Sysorex Government Services, Inc. (SGS) continues to grow its government business. As of September 30, 2022, the Company generated year-to-date revenues of approximately $12 million, with approximately $2.1 million in profit. Heading into the fourth quarter of 2022, SGS has already booked nearly $13 million in new orders, expected to be recognized as revenue over the next four quarters.
SGS has achieved significant year-over-year margin improvement, attributable to expansion of SGS´s supplier network, and cost savings measures implemented by management, including a systems automation upgrade. The new systems integration provides end-to-end automation and has enabled SGS to provide more efficient order processing and invoicing.
With the improved system, SGS has been able to optimize complex project implementation management, which has been well received by its government clients. Efficiencies realized by SGS´s investment in this technology also facilitated a reduction in headcount, whereas the quotation entry system has been streamlined and key employees are able to spend more time dedicated to direct customer interaction.
TTM Digital Assets & Technologies Update
Since Proof of Stake, Ethereum mining companies have begun the process of changing their business model to continue utilization of their mining assets, as the GPUs can be repurposed for a number of other profitable business models. The TTM assets can be used for cloud computing, datacenter hosting, simulation & modeling, virtual reality, artificial intelligence, and gaming.
TTM is currently evaluating all its options including hosting client computing, Artificial Intelligence, Machine Language, Modeling & Simulation, Datacenter hosting, and the sale of its assets to mitigate the loss of revenue with the end of Ethereum mining.
TTM assets, which include a data center in Upstate New York and approximately 11,000 GPUs, were primarily performing Ethereum mining until Ethereum changed from Proof-of-Work to Proof-of-Stake on September 15, 2022. Thereafter, mining activities were temporarily shut down.
TTM facilities are designed for, and can support, numerous computer focused tasks, which may include AI/ML processing, and general server hosting. To support multi-tenant customer growth, TTM has automated many facility functions so the headcount can stay low to focus on revenue generation and margin.
TTM´s data center is located close to renewable power and can support significant growth for hosted customers, including positioning for Environmental, Social, and Governance (ESG) compliant operations in the future. The assets include substantial server class hardware resources, which are well suited to the rapidly growing AI/ML market, and may be utilized to support hosted computing for both private and marketplace customers.
TTM is currently bringing on a hosting client to diversify operations. With ample floor space and power costs below the industry average, TTM intends to develop a hosted customer business that is expected to generate recurring revenue and more predictable margins.
TTM management has put together a plan that is designed to allow for profitable mining that includes negotiating lower power costs for the data center and operating when power costs are at their lowest (overnight) via manual and automated monitoring.
The Company believes that until any eventual sale of TTM’s assets, TTM can continue utilizing its datacenter with activities that will likely be at a breakeven or profitable state with hosting and AI/ML processing expected to drive significantly higher margins over time.
The Company worked in good faith with Ostendo to ensure all closing terms and closing conditions were mutually agreed upon. As of November 2022, the parties have determined that the transaction will not proceed.
ABOUT SYSOREX, INC.
Sysorex, Inc. (Company) is a data center owner and operator. The Company operates its wholly owned subsidiary, Sysorex Government Services, Inc. (SGS), a business that provides information technology products, solutions and services to federal, state, and local government, including system integrators. The Company currently owns and operates approximately 11,000 NVIDIA GPUs at its datacenter in Locksport, NY.
Safe Harbor Statement
All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Sysorex, Inc. and its subsidiaries, which could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the impact of COVID-19 on Sysorex’s results of operations, Sysorex’s ability to integrate the products and business from recent acquisitions into its existing business, the performance of management and employees, the regulatory landscape as it relates to privacy regulations and their applicability to Sysorex’s technology. Other factors that are detailed in Sysorex’s periodic and current reports available for review at sec.gov. Furthermore, Sysorex operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Sysorex disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.
Investor Relations
Crescendo Communications, LLC
David Waldman/Natalya Rudman
Tel: (212) 671-1020
Email: [email protected]
Artificial Intelligence
KMS Lighthouse and lastminute.com Triumph with a Double Win at the Global Sourcing Association (GSA) 2024 Awards
TEL AVIV, Israel, June 17, 2024 /PRNewswire/ — KMS Lighthouse, a global leader in knowledge management, is proud to announce its remarkable achievement of winning two prestigious awards with lastminute.com at the Global Sourcing Association (GSA) 2024 Awards. The brands were honored in the following categories:
Retail Programme of the Year: lastminute.com and KMS Lighthouse LimitedTechnology Enabled Programme of the Year (Automation/AI): lastminute.com and KMS Lighthouse LimitedKMS Lighthouse was also a finalist in the Service Provider of the Year category.
The awards were presented on June 11, 2024, at a glittering ceremony held at Richmond Hill Hotel, as part of the GSA Festival of Sourcing. Celebrating its 21st year, the GSA Awards recognize organizations that demonstrate exceptional best practices in strategic sourcing.
Sagi Eliyahu, CEO of KMS Lighthouse Limited commented “We are absolutely delighted to have won these two esteemed awards. This recognition underscores the tireless dedication and innovation of our teams in delivering exceptional knowledge management solutions to our clients. I would like to extend my heartfelt gratitude to our partners at lastminute.com. The synergy and true partnership we have formed exemplify the collaborative spirit needed to drive outstanding results.”
“We are thrilled to celebrate these award wins with KMS Lighthouse,” said Walter Di Lello, Knowledge Manager & Procedure Team Leader at lastminute.com. “This achievement is a testament to the hard work and dedication of both our teams. The collaborative partnership approach we have fostered with KMS Lighthouse has been pivotal in delivering innovative and impactful solutions. Thank you to everyone involved for their relentless commitment and excellence.”
This double accolade highlights KMS Lighthouse’s unwavering commitment to excellence, innovation, and effective collaboration. The successful partnership with lastminute.com has not only enhanced the retail sector’s capabilities but also set new standards in automation and AI-driven solutions.
About KMS Lighthouse:
KMS Lighthouse is a global leader in knowledge management solutions, providing innovative platforms that enhance organizational knowledge sharing and decision-making. Through advanced AI and automation technologies, KMS Lighthouse enables businesses to improve customer service, streamline operations, and achieve higher efficiency.
About lastminute.com
lastminute.com is the European Travel-Tech leader in Dynamic Holiday Packages. Our mission is to simplify, personalise, and enhance our customers’ travel experience by leveraging technology. Thanks to the iconic brand lastminute.com and a rich portfolio of vertical brands, we meet the most diverse needs of travellers across the entire holiday experience. As one of the few fully licensed European tour operators, we offer unlimited real-time travel combinations thanks to our proprietary Dynamic Holiday Packaging engine, providing additional customer protection and exclusive deals. lastminute.com N.V. is a publicly traded company listed under the ticker symbol, LMN on the SIX Swiss Exchange.
Media Contact:KMS Lighthouse [email protected] [email protected]://www.linkedin.com/company/kms-lighthouse/https://kmslh.com/
View original content:https://www.prnewswire.co.uk/news-releases/kms-lighthouse-and-lastminutecom-triumph-with-a-double-win-at-the-global-sourcing-association-gsa-2024-awards-302174249.html
Artificial Intelligence
CluePoints Continues ‘Turning Artificial Intelligence into Human Intelligence’ by Launching Two New Innovations
Site Profile & Oversight Tool (SPOT) and Intelligent Medical Coding (IMC) unveiled by RBQM innovator at DIA Global Annual Meeting 2024
KING OF PRUSSIA, Pa., June 17, 2024 /PRNewswire/ — CluePoints, provider of leading statistical and AI-driven software solutions, will unveil two of its latest advanced, deep learning technology innovations at the DIA Global Annual Meeting 2024. Both solutions deliver groundbreaking enterprise platform transformations providing Sponsors and CROs with a smarter way to conduct clinical research and detect and manage risks that could impact clinical trial outcomes.
Taking RBQM to a new level, CluePoints’ Site Profile & Oversight Tool (SPOT) delivers adaptive site monitoring, enabling teams to swiftly pinpoint anomalies and translate insights into strategies and actions. Sponsors and CROs can improve their ability to evaluate the performance of clinical trial sites and adjust site visit plans more effectively and efficiently while accurately balancing risk and resource workload.
Further streamlining processes, CluePoints’ Intelligent Medical Coding solution harnesses advanced deep learning technology to enhance the accuracy and efficiency of coding in clinical trials. It seamlessly integrates with existing systems to offer precise, AI-generated coding suggestions, drastically reducing the need for manual dictionary searches and costly coding reviews, freeing up valuable resources and ensuring uniformity across all coded data.
Andy Cooper, CEO of CluePoints, said: “DIA offers the perfect opportunity to share with the industry our latest disruptive and innovative solutions that address key challenges within traditional clinical research methods. Unveiling two new products that leverage next generation AI will transform how CluePoints is viewed in the industry, as we enhance our enterprise-wide solutions to reach new levels of accuracy and efficiency to both improve clinical trial performance and deliver greater insights to further mitigate risk. Our early adopters are already raving about how valuable they are finding both product offerings and we are excited to showcase how they will shape future processes and embody our brand promise to ‘turn artificial intelligence into human intelligence.”
With over 9,500 users engaged with CluePoints’ enterprise platform, to date over 1,600 studies have been de-risked and over 142,000 issues detected.
Visitors to the CluePoints’ DIA Global exhibition booth #1301 will have the opportunity to meet with subject matter experts and see demonstrations of both new platform solutions.
CluePoints also invites DIA attendees to join them at 3pm on Tuesday, June 18th, for a special toast at their booth to celebrate the latest innovations.
To learn more about CluePoints’ award-winning solutions, please visit www.cluepoints.com.
About CluePoints
CluePoints is the premier Risk-Based Quality Management (RBQM) and Data Quality Oversight Software provider. We are leveraging the potential of artificial intelligence using advanced statistics and machine learning to determine the quality, accuracy, and integrity of clinical trial data both during and after study conduct. Aligned with guidance from the FDA, EMA, and ICH E6 (R2), CluePoints is deployed to support central and on-site monitoring, medical review, quality risk management and to drive a holistic Risk-Based strategy in all trials. Coupled with thought leadership and consulting expertise to aid pre-study risk assessment, identification of risk controls and solution implementation, you now have everything you need to adhere with global regulatory guidance. The result is positive clinical development outcomes, increased operational efficiency, lower costs and reduced regulatory submission risk as part of the industry paradigm shift to RBQM.
View original content:https://www.prnewswire.co.uk/news-releases/cluepoints-continues-turning-artificial-intelligence-into-human-intelligence-by-launching-two-new-innovations-302174137.html
Artificial Intelligence
ComplyCube Launches Trust Center with the Most Complete Compliance Posture in the Market
LONDON, June 17, 2024 /PRNewswire/ — ComplyCube, a RegTech100 global leader in identity verification and compliance solutions, proudly announces the launch of its comprehensive Trust Center. This new initiative emphasizes ComplyCube’s unrivaled compliance posture, redefining security and privacy for IDV, KYC, and AML platforms. With over fifty continuously monitored controls, the AI-powered SaaS leads the way in ensuring clients stay ahead of international regulations and standards.
The Trust Center provides real-time updates on security measures, compliance statuses, and operational transparency, empowering clients to meet regulatory requirements confidently and allowing them to view ComplyCube’s compliance posture on demand. This platform is engineered to enhance transparency, build trust, and streamline compliance processes for organizations worldwide.
ComplyCube unveils its unrivaled compliance posture, redefining security and privacy for IDV, KYC, and AML platforms. With over fifty continuously monitored controls, ComplyCube leads the way in ensuring clients stay ahead of international regulations and standards.
Key Features of the Trust Center:
Real-Time Compliance Dashboard: Live updates on compliance metrics and security statuses.Comprehensive Resource Hub: Access to essential documents, certifications, and regulatory guidelines.Incident Reporting and Tracking: Full transparency in reporting and monitoring security incidents.Tarek Nechma, CEO of ComplyCube, remarked, “The launch of the Trust Center marks a pivotal milestone in our mission to build trust at scale and deliver state-of-the-art compliance solutions. This platform will empower our clients to navigate the complexities of regulatory landscapes with confidence.”
Non-compliance costs are 2.71 times higher than the costs of maintaining or meeting compliance requirements. Another study indicates that companies with strong compliance programs can reduce incident costs by up to 30%. On top of this, 84% of businesses encounter compliance challenges that can lead to significant financial and reputational damage. ComplyCube’s Trust Center aims to further mitigate these risks by providing tools that help businesses maintain and improve their compliance posture.
Mohamed Alsalehi, CTO of ComplyCube, stated, “We design our systems to be compliant by design with the stringent laws and regulations. This proactive approach ensures our clients can meet and exceed compliance requirements effortlessly.”
Joshua Dent, Business & Partnerships Manager, added, “The Trust Center showcases ComplyCube’s adherence to a multitude of globally recognized standards and data protection regulations. Clients and partners can find answers to many of their data protection questions, view active controls, and request documents to fulfill due diligence. It’s fantastic to see this go live following our latest certifications, such as UK DIATF, ISO 9001, PAD Level 2, and ISO 27001:2022 upgrade.”
ComplyCube continues to set industry standards with its innovative solutions, and the Trust Center’s launch underscores its mission to support businesses in achieving compliance excellence.
For more information about the Trust Center, visit ComplyCube Trust Center.
About ComplyCubeComplyCube is a leading provider of identity verification and compliance solutions, helping organizations across various sectors secure their operations and meet regulatory requirements. With a focus on innovation and customer satisfaction, ComplyCube delivers reliable and efficient services that empower businesses to thrive in a complex regulatory environment.
About VantaVanta is a leading trust management platform that automates compliance and streamlines security reviews for SaaS businesses. It helps companies manage risk and prove security in real-time, ensuring adherence to global standards and data protection regulations. With Vanta’s Trust Center, businesses can efficiently manage compliance processes and demonstrate their commitment to security and trust.
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View original content:https://www.prnewswire.co.uk/news-releases/complycube-launches-trust-center-with-the-most-complete-compliance-posture-in-the-market-302174177.html
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