Artificial Intelligence
The Global Generative AI Market size is expected to reach $53.9 billion by 2028, rising at a market growth of 32.2% CAGR during the forecast period
New York, Jan. 26, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Generative AI Market Size, Share & Industry Trends Analysis Report By Component, By Technology, By End Use, By Regional Outlook and Forecast, 2022 – 2028” – https://www.reportlinker.com/p06412044/?utm_source=GNW
In contrast to conventional machine learning, generative AI may produce creative material, such as songs, artwork, and even complete words. People will be able to be more inventive, creative, and innovative owing to generative AI. It has the capacity to break down the boundaries of human imagination and produce new concepts that were previously unimaginable.
This can be done using a technique called generative design, where one commences with a set of guidelines or restrictions and then give it some time to work. The drawings it generates can then be viewed to help individuals either come up with a solution to the problem or learn fresh perspectives on it. New avenues for how people work, play, and create are emerging thanks to generative AI.
For consumers, companies, governments, and nonprofit groups, this field is very promising. Programs that enable machines to create content using elements like audio recordings, text, and graphics are known as generative artificial intelligence (AI). One of the most exciting developments in the field of AI over the past ten years, according to MIT, is generative AI.
COVID-19 Impact Analysis
The commercial operations and economies of numerous locations were impacted by the COVID-19 outbreak in 2020. Lower IT investment by firms, particularly small businesses, was noted as a result of the closure of commercial activities to stop the disease’s spread. The COVID-19 pandemic has, however, been a big win for cloud-based software suppliers since most IT employees now manage various business processes from home. Over the course of the forecast period, these factors are anticipated to support the market for generative AI.
Market Growth Factors
Detecting Fraud Among Drivers
The use of synthetic data has the potential to solve the problems the banking sector is now experiencing, particularly with regard to data protection. In place of client data that cannot be shared owing to privacy issues, shareable data can be created using synthetic data. Additionally, artificial consumer data are perfect for training machine learning (ML) models that help banks assess whether and how much they can offer a client in the way of credit or a mortgage loan.
Management Of Risk
For banks to maintain an appropriate amount of risk exposure, identify potential risk areas, and take action to sustain profitability, a risk management plan must be established. Whenever liquidity, credit, operational, and other risks really aren’t properly managed, banks could experience losses. Because of this advantage, generative AI is widely used nowadays, particularly in the BFSI industry.
Market Restraining Factors
Ethics Of Ai-Generated Content
People are frequently the target of propaganda, obscene content, and fraudulent videos produced by AI. Privacy and consent issues are brought up by this. Additionally, there is a real chance that once AI can produce content in a person’s manner, with or without that person’s consent, individuals will lose their jobs. Due to these generative AI limitations, businesses may be hesitant to use them, which would hinder the market’s expansion.
Component Outlook
Based on the component, the generative AI market is classified into software and services. With the largest revenue share in 2021, the software sector led the generative AI market. In order to anticipate the following word from past word sequences or the following image from words describing prior images, the software makes use of sophisticated machine learning algorithms. The expansion of the software market can be ascribed to a number of variables, including an increase in fraud, an overestimation of skills, unexpected results, and increased data privacy concerns.
Technology Outlook
Based on the technology, the generative AI market is categorized into generative adversarial networks (GANs), transformers, variational auto-encoders, and diffusion networks. The generative AI market’s diffusion network segment grew significantly in revenue in 2021. Image generation has become crucial for many industries, including BFSI, healthcare, automotive & transportation, media & entertainment, defense, and many others, in order to meet the growing demands of image synthesis because these sectors are equipped to offer high-value to enterprises, the government, and the general public.
End-use Outlook
On the basis of End-use, generative AI market is categorized into Media & entertainment, BFSI, IT & communications, healthcare, automotive & transportation, and others. The market for generative AI has experienced a promising growth rate in the healthcare sector in 2021. When activated by 3D printing, CRISPR, and other technologies, generative AI can be used to create organic molecules, prosthetic limbs, and other things from nothing. Additionally, early detection of possible malignancy can lead to better treatment strategies. In order to find treatments for COVID-19, IBM is now using this technology to study antimicrobial peptides (AMP).
Regional Outlook
Based on geography, the generative AI market is classified as North America, Europe, Asia Pacific, and LAMEA. The North American region generated the largest revenue share, thereby dominating the generative AI market in 2021 globally. This is because of things like rising medical care and pseudo-imagination, as well as rising banking frauds. The regional generative AI market is also projected to increase due to the existence of key market participants, including the U.S.-based Microsoft, Meta, and Google LLC, as well as sophisticated technology companies and the availability of specialists.
The major strategies followed by the market participants are Acquisition. Based on the Analysis presented in the Cardinal matrix; Google LLC and Microsoft Corporation are the forerunners in the Generative AI Market. Companies such as Amazon.com, Inc., Adobe, Inc., and IBM Corporation are some of the key innovators in Generative AI Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon Web Services, Inc. (Amazon.com, Inc.), IBM Corporation, Microsoft Corporation, Adobe, Inc, MOSTLY AI Solutions MP GmbH, Synthesia Limited, Genie AI, Inc, Rephrase.ai, and De-Identification Ltd.
Strategies Deployed in Generative AI Market
Nov-2022: Microsoft came into collaboration with NVIDIA, an American multinational technology company. This collaboration would aim to create one of the most powerful AI supercomputers, powered by Microsoft Azure’s advance. Moreover, this collaboration opens the door to a supercomputer platform that benefits every enterprise on the Microsoft Azure platform.
Oct-2022: Adobe is introducing Generative AI, an AI-based technology. The product features Photoshop, Adobe Express, and Lightroom. Additionally, the latest technology would enable creators to give their idea to Artificial Intelligence and the machine would process certain images.
Oct-2022: Google completed the acquisition of Alter, an artificial intelligence (AI) avatar startup engaged in helping brands and creators express themselves. Through this acquisition, Google would improve both the quality and quantity of the content provided to consumers.
Jun-2022: Google added new features to its previously launched product Vertex. The addition of new features in Vertex AI would boost the deployment of machine learning models in organizations and democratize AI so more people can distribute models in production, driving business impact and continuous monitoring with AI.
Jun-2022: Amazon released CodeWhisperer, an AI pair programming tool that is capable of performing the entire function set only by pressing certain keynotes or based on the comment. The launched product works on Python, Java, and JavaScript as well as on numerous publicly available open-source codes and documents and its database of codes.
Dec-2021: Amazon Web Services, Inc. collaborated with Meta, an American multinational technology conglomerate to provide cloud services to AWS. Under this collaboration, both companies would work together to enhance the functioning of customers running PyTorch on AWS and boost how developers create, train, deploy and operate machine learning/artificial intelligence models.
Apr-2021: IBM took over Turbonomic, a company engaged in offering tools to manage application performance. With this move, IBM would enhance its footprint by offering enterprises AI-based services to manage their workloads and networks.
Apr-2021: Microsoft completed the acquisition of Nuance, an American multinational computer software technology corporation. This acquisition would integrate specializations and expertise to provide new AI and cloud abilities across healthcare and other areas.
Mar-2021: IBM launched Molecule Generation Experience (MolGX), a cloud-based AI-driven molecular design platform that itself invents new molecular structures. This newly launched product boosts the discovery of new materials by 10 to 100 times as well as finds materials from the property targets of a given product.
May-2020: Mircosoft took over Softomotive, a leading provider of robotic process automation. Under this acquisition, Microsoft would combine Softomotive’s desktop automation with the present Microsoft Power Automate abilities, at a uniquely low cost. Additionally, Microsoft would balance RPA and allow everyone to build bots to automate manual business processes.
Sep-2018: Microsoft took over Lobe, a start-up that makes it easier to build an A.I. model with its drag-and-drop interface. With this acquisition, Microsoft would create its own effort to design AI models easier as well for some time Lobe would operate as before.
Jul-2018: IBM Watson Health, a division of IBM Corporation, partnered with Guerbet, a manufacturer of contrast agents used in medical imaging. Through this partnership, the companies would use AI for the medical imagining of the liver. Additionally, both companies together would develop advanced clinical decision support solutions.
Scope of the Study
Market Segments covered in the Report:
By Component
• Software
• Service
By Technology
• Transformers
• Generative Adversarial Networks (GANs)
• Variational Auto-encoders
• Diffusion Networks
By End-Use
• Media & Entertainment
• BFSI
• IT & Telecommunication
• Healthcare
• Automotive & Transportation
• Others
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
• Google LLC
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• IBM Corporation
• Microsoft Corporation
• Adobe, Inc
• MOSTLY AI Solutions MP GmbH
• Synthesia Limited
• Genie AI, Inc
• Rephrase.ai
• De-Identification 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/p06412044/?utm_source=GNW
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PORTO, Portugal, May 14, 2024 /PRNewswire/ — The history of the Portuguese car industry is filled with good examples of the significance of Portuguese entrepreneurship, the desire to “give new worlds to the world”, the enormous capacity to get down to work and turn ideas into reality. In all of them we find something that unites them: one or two “geniuses” who, sometimes not in the most obvious way, or having to overcome the most unusual obstacles, end up bringing something they dreamed of to fruition. Adamastor has a lot of all these things. A lot of idealism, a lot of passion and, at the same time, a lot of know-how… The result is being presented today: the FURIA!
A supercar is, in essence, an exclusive high-performance sports car made up of specific components of superior quality, offering more power and cutting-edge technology to enthusiasts and collectors around the world. It is precisely in this segment, which is also “super” in terms of exclusivity, that Adamastor wants to position itself.
The constant growth and development of society and the economy has favoured the expansion of the number of wealthier consumers, many of whom are regular customers of the restricted supercar category. It is therefore expected that the demand for supercars will continue to increase, also favouring growth in the sector.
However, the rigour of construction, the driving experience and the high-level design and technology are equally responsible for placing Adamastor’s market segment at the forefront of the evolution of expertise, R&D and technical knowledge in this top category of the exciting automotive industry. This is precisely where Adamastor wants to put itself, with the introduction of the Furia, right at the front of the pack.
Where is the first Portuguese supercar produced?
It was from its facilities in Perafita, on the outskirts of Oporto, that Adamastor worked on the development of the first Portuguese supercar. But the highly specialised engineering, production and design team also has the technical and human resources to design, develop and produce its own tools, equipment and other components, and is also committed to becoming a leader in the execution of excellent engineering projects at international level, with a special focus on designing the highest quality carbon fibre components. Adamastor Advanced Technologies was thus born.
In order to achieve this, it uses cutting-edge technical solutions, from the design stages to validation, obviously including development and production, and it has all the skills and competences that allow it, for example, to stand out as one of the main players in the industry in the production of carbon fibre components for use in the demanding automotive industry, in the new mobility solutions sector and in the challenging world of racing, while demonstrating its ability to adapt to an industry that is constantly changing and evolving.
From advanced CNC machining technology to modern 3D printing tools, including the aforementioned production of carbon fibre components, Adamastor Advanced Technologies’ experience, expertise and excellent service has made it the choice of customers with specific needs, such as for the production of carbon fibre bodies and fuel tanks for off-road racing vehicles, propellers for wind power generation, among other high-precision components, where tight tolerances are crucial for the application and consequent correct operation of the component under working conditions.
In this context, Adamastor’s network of partners is also one of its main assets. Each of its partners offers the experience and technical expertise needed to achieve the best results, meeting the high-quality standards and demands of its customers. Examples include partnerships with Creodynamics – virtual simulation of a wind tunnel with CFD (Computational Fluid Dynamics) software, as used in Formula 1; with Canopy – virtual simulation of races and lap times used by some of the teams in the FIA World Endurance Championship and Formula 2; and with Altair – FEA (Finite Element Analysis)
All the information available here: https://www.adamastor.com.pt/home
Technical specifications – Adamastor Furia
Chassis:Carbon fibre
External dimensionsLength: 4,560 mmWidth: 2,212 mmHeight: 1,098 mmWeight: 1,100 kg (dry in Race version)
Track widthFront: 1,755 mmRear: 1,705 mmWheelbase: 2,800 mm
SuspensionGeometry: decoupled double wishbones, coil spring on shock absorberAdjustments supported: toe, camber, caster, ground clearance, roll stiffness, bump stiffness
EngineArchitecture: V6, twin-turbo, sourced from Ford PerformanceDisplacement: 3.5 litresMaximum power: + 650 horsepowerMaximum torque: + 571 NmFuel: Petrol; compatible with synthetic fuelsTop speed: over 300 km/h in the road versionAcceleration from 0 to 100 km/h: around 3.5 secondsAcceleration from 0 to 200 km/h: around 10.2 seconds
Maximum downforceRace: 250 km/h – 1,800 kgRoad: 250 km/h – 1,000 kg
Brakes378 mm discs at the front and 356 mm at the rear. 6-piston callipers at the front and 4-piston callipers at the rear. Brake force variation available on Race version.
Standard equipmentABS and TC
Customisation optionsAdamastor allows a wide range of personalisation freedom for the Furia, including the interior design.
Planned production:Limited series of 60 units
Price of the road-legal version:Estimated at 1.6 million euros + tax
Photo – https://mma.prnewswire.com/media/2410982/Adamastor_Super_Sports.jpgPhoto – https://mma.prnewswire.com/media/2410981/Adamastor_350_HorsePower.jpgLogo – https://mma.prnewswire.com/media/2094180/Adamastor_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/adamastor-introduces-the-furia-the-first-portuguese-supercar-302143843.html
Artificial Intelligence
ID Quantique launches a quantum-safe communication ecosystem to facilitate the adoption of Quantum networks, with HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum as first partners
GENEVA, May 14, 2024 /PRNewswire/ — To accommodate the growing demand for telecom-grade solutions that enable fast and cost-effective migration to quantum-safe communications, ID Quantique’s new Clarion KX software platform now supports multi-vendor Quantum Key Distribution (QKD) interoperability. Today, we are pleased to welcome new technology partners: HEQA Security, LuxQuanta, Quantum Optics Jena and ThinkQuantum to our Clarion KX ecosystem.
With the looming threat of quantum computers capable of breaking public-key cryptography, the reality of “harvest now, decrypt later” attack poses immediate threat to the confidentiality of enterprise, government, and IT service providers’ data. Organizations worldwide are grappling with the urgency of migrating to quantum-safe infrastructure – the most complex, time-sensitive, and costly cryptographic overhaul in IT history. Stakes are high, as failure to timely employ available mitigation strategies could expose them to significant liabilities.
To fully mitigate the associated risks, organizations are now looking to enforce a defense in depth approach by leveraging both quantum-based and algorithmic technologies at different layers of the network stack. QKD solutions, the key building block of this strategy, have been already recognized to play a critical role in ensuring long term resilience to Quantum threat.
ID Quantique Clarion KX platform leverages an open and service-based architecture to support a cost-effective scale up of QKD networks. It provides for orchestration and management of out-of-band quantum-key delivery in real time, regardless of the underlying QKD solutions or the location of the consuming encryption appliances. With its support for heterogeneous QKD infrastructure in complex and SLA demanding environments, IDQ’s Clarion KX platform also enables telecom operators to generate new revenue streams by providing new Quantum-Safe as a Service offerings to their B2B customers looking for long-term security assurance.
With ID Quantique’s expanded ecosystem and open interfaces, customers can now also leverage hybrid QKD networks, including continuous variables (CV) QKD, discrete variables (DV) QKD or Entanglement based QKD.
“We are extremely proud to break another important barrier to large-scale adoption of quantum networks. Said Grégoire Ribordy CEO of ID Quantique. Offering a vendor-agnostic ecosystem allowing heterogeneous QKD infrastructure was one of the next logical steps the market was expecting – and this is now available thanks to our partners.”
“Reaching QKD interoperability is a significant market milestone that empowers customers to choose products freely for their networks, maximizing flexibility and adaptability to meet business needs. Said Nir Bar-Lev, CEO, HEQA Security. This customer-centric approach reflects HEQA Security’s dedication to delivering innovative solutions, even before standards are fully finalized.”
“Safeguarding both present and future communications requires customized solutions aligned with specific network requirements. That is why we must ensure multi-vendor interoperability, allowing our industry to build on the unique properties and specifications of each QKD and related technologies from different providers.” says Vanesa Diaz, CEO of LuxQuanta. “We are very pleased with the seamless work that both our teams have done to integrate our NOVA LQ® system with Clarion KX software, and we look forward to continuing to nurture this partnership.
“The integration of different technological approaches is an important step for future network architecture,” says Kevin Füchsel, CEO of Quantum Optics Jena. “The demonstration shows that our partners and customers can rely on simple and fast interoperability. This brings us a big step closer to multi-user and multi-vendor networks.”
“Partnering between ThinkQuantum and IDQ for the mutual recognition of our own quantum networking solutions is definitely moving in the direction of overcoming the competition we daily experience on the market to cooperate in the support of our common clients and Industry growth”, Simone Capeleto, CEO of ThinkQuantum.
More info on Clarion KX Platform
For more information visit our website:www.idquantique.comwww.heqa-sec.comwww.LuxQuanta.comwww.qo-jena.comwww.thinkquantum.com
Photo: https://mma.prnewswire.com/media/2412582/ID_Quantique.jpgLogo: https://mma.prnewswire.com/media/2412581/ID_Quantique_Logo.jpg
Contact: Catherine Simondi – VP Marketing and Communication, ID Quantique, [email protected] or + 42 22 801 83 71
View original content:https://www.prnewswire.co.uk/news-releases/id-quantique-launches-a-quantum-safe-communication-ecosystem-to-facilitate-the-adoption-of-quantum-networks-with-heqa-security-luxquanta-quantum-optics-jena-and-thinkquantum-as-first-partners-302145202.html
Artificial Intelligence
Sona, next-generation workforce management for frontline, raises $27.5M Series A led by Felicis
LONDON, May 14, 2024 /PRNewswire/ — Sona, the next-generation, intelligent workforce management platform for frontline enterprises founded by Steffen Wulff Petersen, Oli Johnson and Ben Dixon, announced today its $27.5M Series A. Felicis led the financing with participation from Northzone, Google’s AI-fund Gradient, SpeedInvest, Antler, BAG Ventures, and numerous notable angels participated in the round. Sona has raised $40M+ to date and will use this fresh round of capital to expand its go-to-market function and build more advanced AI capabilities on its platform. In 2023 alone, Sona experienced an explosive 400%+ revenue growth. To date, over 4.6 million shifts have been created on Sona.
The frontline workforce represents nearly 2 billion people worldwide, 56% of the global workforce. In spite of this, frontline innovations have received
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