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Robotic Process Automation (RPA) Market Size surpass USD 20,215.71 Mn by 2030 at a CAGR of 30.4%

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New York, May 09, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Robotic Process Automation (RPA) Market” published by Consegic Business Intelligence, the market was worth USD 2,463.06 Million in 2022 and is anticipated to reach over USD 20,215.71 Million by the year 2030, growing at a CAGR of 30.4%.

Global Robotic Process Automation (RPA) Market Size, Share & Trends Analysis, By Component (Software and Services), Operation (Rule-Based and Knowledge-Based), Enterprise Size (Large Enterprise and SMEs), Application (Administration & Reporting, Customer Support, Data Migration & Capture extraction, Analysis, and Others), End-User (Retail, Manufacturing & Logistics, BFSI, Healthcare, IT & Telecommunication, Hospitality, and Others), and By Region, Forecast Period 2023 – 2030.

The robotic process automation (RPA) market is a rapidly growing sector of the technology industry. RPA refers to software programs that automate repetitive, rules-based tasks that are usually performed by humans. The programs use artificial intelligence (AI) and machine learning (ML) algorithms to mimic human actions and decision-making. RPA solutions are being used to automate tasks such as data entry, customer service, invoice processing, and inventory management in various industries including include banking and finance, healthcare, retail, and manufacturing.

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The increasing demand for automation in industries such as manufacturing, retail, and healthcare is driving the growth of robotic process automation (RPA) market. RPA provides an effective solution by allowing organizations to automate repetitive and time-consuming tasks, thereby enabling employees to focus on more strategic work. In addition to the demand for automation, the need for cost-efficient operations is another major driver of the RPA market. By automating tasks that are performed by humans, organizations reduce the need for manual labor and associated costs. RPA also helps businesses reduce errors and improve the accuracy of their operations, leading to further cost savings. For instance, in March 2021, Deloitte announced a collaboration with Automation Anywhere to accelerate cloud intelligent automation adoption to help organizations automate their processes and increase efficiency while leveraging the power of the cloud and artificial intelligence (AI).

The robotic process automation (RPA) market is expected to witness significant growth during the forecast period due to the incorporation of advanced technologies such as artificial intelligence (AI) and machine learning (ML). The use of intelligent automation solutions to analyze data, identify patterns, and make informed decisions is providing growth opportunities for the robotic process automation market. However, security concerns associated with RPA solutions along with its high maintenance costs are restraining the growth of the robotic process automation market.

Report Attributes Report Details
Market Size By 2030  USD 20,215.71 Million
Forecast Period 2023-2030
CAGR (2023-2030) 30.4%
Base Year 2022
Study Timeline 2017-2030
Key Players Automation Anywhere, Blue Prism Group PLC, UiPath Inc., Microsoft Corporation, Nice Systems Ltd., WorkFusion, Inc., Pegasystems, Inc., OnviSource, Inc., Salesforce (Servicetrace GmbH/Mulesoft, Inc.), Kryon Systems 
By Component
  • Software
  • Services
By Operation
  • Rule-Based
  • Knowledge-Based
By Enterprise Size
  • Large Enterprises
  • SMEs
By Application
  • Administration & Reporting
  •  Customer Support
  •  Data Migration & Capture extraction
  •  Analysis
  •  Others
By End-User
  • Retail
  •  Manufacturing & Logistics
  •  BFSI
  •  Healthcare
  •  IT & Telecommunication
  •  Hospitality
  • Others
Report Coverage Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
By Geography North America, Asia-Pacific, Latin America, Europe, Middle East & Africa


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Key Market Highlights

  • The Global Robotic Process Automation (RPA) Market size is estimated to exceed USD 20,215.71 Million by 2030 and grow at a CAGR of 30.4% during the forecast period (2023-2030).
  • Globally, Robotic Process Automation (RPA) are divided based on the Component into Software and Services.
  • In the context of Operation, the market is separated into Rule-Based and Knowledge-Based.
  • On the basis of Enterprise Size, the market is categorized into Large Enterprises and SMEs.
  • On the basis of Application, the market is classified into Administration & Reporting, Customer Support, Data Migration & Capture extraction, Analysis, and Others.
  • Based on the End-User, the market is segregated into Retail, Manufacturing & Logistics, BFSI, Healthcare, IT & Telecommunication, Hospitality, and Others.
  • The market is geographically divided into five regions: Europe, Latin America, the Asia-Pacific, North America, and Middle East and Africa.
  • Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Robotic Process Automation (RPA).

Robotic Process Automation (RPA) Market Growth Drivers:

  • The increasing demand for automation in industries such as manufacturing, retail, and healthcare is driving the growth of robotic process automation (RPA) market.
  • The ability of robotic process automation (RPA) solutions to improve the efficiency and productivity of business operations is accelerating the growth of the robotic process automation (RPA) market.
  • The continuous advancements in technology such as the adoption of cloud computing are boosting the growth of market.

Restraints

  • The security concerns associated with RPA solutions along with its high maintenance costs are restraining the growth of the robotic process automation market.
  • The integration of RPA solutions with the existing systems is limiting the growth of robotic process automation (RPA) market.

Opportunities

  • The incorporation of advanced technologies such as artificial intelligence (AI) and machine learning (ML) into the automation process is presenting growth opportunities for the robotic process automation market.

Global Robotic Process Automation (RPA) Market Segmentation Details:

Based on Component, the Software segment contributed the largest shares to the market growth in 2022. In terms of software, the RPA market includes different types of RPA software solutions that are designed to automate various business processes. The software solutions include standalone RPA software and integrated RPA software designed to learn from data, identify patterns, and make decisions to improve the business outcomes, thereby increasing the efficiency of the business operations.

Based on Operation, rule-based segment offered substantial shares to the Global Robotic Process Automation (RPA) Market in the year 2022. Rule-based automation involves automating tasks that are standardized and easily defined by a set of rules or instructions. The tasks typically involve repetitive and rule-based activities that are automated using RPA tools. For instance, data entry and invoice processing are tasks that are automated using rule-based RPA solutions. As a result, the ease of implementation of rule-based software and its ability to reduce the overall cost of implementation is driving the growth of the rule-based segment in the RPA market.

Based on Enterprise Size, the large enterprise segment is accounted for the largest revenue share in the year 2022. Large enterprises have complex business processes allowing them to invest in resources to support RPA software solutions and the IT infrastructure required to support them. As a result, large enterprises are the primary adopters of RPA solutions, and the segment is expected to continue to grow as large organizations seek to further optimize their operations. However, the SMEs segment is expected to witness significant growth during the forecast period at RPA solutions automate repetitive and time-consuming tasks, thereby helping SMEs to increase their return on investment (ROI).

Based on Application, the administration & reporting segment offered substantial shares to the robotic process automation market. The administration and reporting segment of the RPA market includes a range of repetitive and time-consuming tasks such as data entry, invoice processing, and report generation. RPA solutions automate these tasks, enabling organizations to improve their operational efficiency, reduce errors, and free up employee time to focus on more strategic activities. By automating these administrative tasks, businesses also improve decision-making and customer satisfaction, as they access accurate and timely information more quickly. In conclusion, the administration and reporting segment of the RPA market is a key area of growth, as more organizations seek to optimize their operations and reduce costs through automation.

Based on End-User, the BFSI sector accounted for the maximum revenue share in the year 2022. The BFSI industry has a high volume of repetitive, rule-based processes that are well-suited for automation. RPA solutions helps to improve their operational efficiency, reduce costs, and enhance customer experience. As a result, the BFSI sector has been an early adopter of RPA solutions to automate processes such as account opening, data entry, payment processing, and others.

Based on region, The North American region has been a major contributor to the growth of the robotic process automation (RPA) market. The region has a high demand for automation due to the need for improved efficiency, increased productivity, and reduced operational costs. The adoption of advanced technologies such as artificial intelligence (AI) and machine learning (ML) is also high in North America, which further accelerates the growth of the RPA market. Moreover, the presence of key players such as Automation Anywhere, UiPath Inc., and Microsoft Corporation in the region is a significant factor driving the growth of the RPA market.

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Recent Developments

  • In March 2023, Salesforce announced the launch of Einstein GPT (Generative Pre-trained Transformer) designed to help businesses generate natural language text that are used for a variety of purposes, including customer service, marketing, and sales.
  • In February 2023, OnviSource revealed that CallCenterUSA implemented AI-driven and intelligently automated analytics featuring machine learning technology from OnviSource.

List of Major Global Robotic Process Automation (RPA) Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

  • Automation Anywhere 
  • Blue Prism Group PLC
  • UiPath Inc.s 
  • Microsoft Corporation 
  • Nice Systems Ltd. 
  • WorkFusion, Inc. 
  • Pegasystems, Inc. 
  • OnviSource, Inc. 
  • Salesforce
  • Kryon Systems 

Browse Full Market Overviews & TOC @ https://www.consegicbusinessintelligence.com/robotic-process-automation-rpa-market 

Global Robotic Process Automation (RPA) Market Segmentation: 

  • By Component
    • Software
    • Services
  • By Operation
    • Rule-Based
    • Knowledge-Based
  • By Enterprise Size
    • Large Enterprise
    • SMEs
  • By Application
    • Administration & Reporting
    • Customer Support
    • Data Migration & Capture extraction
    • Analysis
    • Others
  • By End-User
    • Retail
    • Manufacturing & Logistics
    • BFSI
    • Healthcare
    • IT & Telecommunication
    • Hospitality
    • Others

Key Questions Covered in the Robotic Process Automation (RPA) Market Report

  • What is Robotic Process Automation (RPA)
    • Robotic Process Automation (RPA) is a technology that uses software robots to automate repetitive and rule-based tasks that are typically handled by people. RPA robots mimic human actions such as logging into applications, entering data, and clicking on buttons, and work continuously without breaks or errors.
  • What specific segmentation details are covered in the Robotic Process Automation (RPA) market report, and how is the dominating segment impacting the market growth?
    • The report consists of segments including Component, Operation, Enterprise Size, and End-User. Each segment has key dominating sub-segment being driven by the industry trends and market dynamics. For instance, by component has witnessed software as the dominating segment in the year 2022, driven by factors such as increasing demand for automation in industries such as manufacturing, retail, and healthcare.
  • What specific segmentation details are covered in the Robotic Process Automation (RPA) market report, and how is the fastest segment anticipated to impact the market growth?
    • The report consists of segments including Component, Operation, Enterprise Size, and End-User. Each segment is projected to have the fastest growing sub-segment being fueled by industry trends and drivers. For instance, Enterprise Size, SMEs sub-segment is anticipated to witness the fastest CAGR growth during the forecast period. SMEs are becoming aware of the benefits of RPA solutions, such as cost savings, improved productivity, and reduced errors.
  • What specific segmentation details are covered in the Robotic Process Automation (RPA) market report, and how does each dominating segment is influencing the demand globally?
    • As aforementioned, each dominating segment is influencing the demand globally due to growing industrial needs. Moreover, due to fluctuation in demand being witnessed from different sectors is accounted for driving the robotic process automation market.

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About Consegic Business Intelligence

Consegic Business Intelligence is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.

Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Our reports comprise in-depth analytical and statistical analysis on various industries in the foremost countries around the globe.

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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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