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HeartCore Reports Strong First Quarter 2023 Financial Results

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-Company’s Q1 2023 Revenue Nearly Exceeds its Full Year 2022 Revenue
-Company’s Q1 2023 Net Income Exceeds its Full Year 2022 Net Income

NEW YORK and TOKYO, May 22, 2023 (GLOBE NEWSWIRE) — HeartCore Enterprises, Inc. (Nasdaq: HTCR) (“HeartCore” or “the Company”), a leading software development company offering Customer Experience Management Platform (“CXM Platform”) and Digital Transformation (“DX”), reported financial results for the first quarter ended March 31, 2023.

First Quarter 2023 and Recent Operational Highlights

  • Grew total number of global enterprise customers to 916 as of March 31, 2023.
  • Signed tenth Go IPO consulting service agreement with rYojbaba Inc.
  • Integrated ChatGPT, a natural language artificial intelligence model, with HeartCore CMS to support automatic content creation for websites.
  • Partnered with Works Applications and AIM Consulting to improve their respective digital auditing solutions through its DX suite of offerings.
  • Signed eighth and ninth Go IPO clients by engaging Libera Gaming Operations and ICheck Co.
  • Acquired a 51% majority stake in Sigmaways Inc., a software engineering service provider delivering IT solutions.
  • Announced that HeartCore’s Content Management System (“CMS”) was introduced by Subaru Group to its centralized management platform for approximately 100 Subaru websites.

Management Commentary
“The first quarter was impressive in several ways, namely behind our record revenue and net income figures,” said CEO Sumitaka Yamamoto. “Our core software division drove robust operating results stemming from newly adopted marketing techniques and customer acquisition methods that were implemented last year; these changes led to profitability within this sector of our company. We are seeing this encouraging trend continue to persist which is why we are confident our software division will have a strong 2023. Additionally, our recently acquired subsidiary, Sigmaways, has been seamlessly integrated within our core operations and we’ve begun to manifest the synergies and capitalize on all joint projects.

“A significant contributing factor to our record-breaking quarter relates to our Go IPO business. Following the completion of two IPOs this past quarter, we’ve been able to reap the benefits from the warrants we received as part of the deal consummation. As I’ve previously shared, we have just scratched the tip of the iceberg with our Go IPO business line, as we expect to benefit from the closing of another six deals for the remainder of this year, including our biggest one yet around SBC Medical Group, which will add approximately $32.4 million to our top line. With our two-pronged growth strategy going into full effect, I am very confident in our team’s ability to make 2023 the strongest year for HeartCore across several measures.”

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First Quarter 2023 Financial Results
Revenues increased 284% to $8.7 million compared to $2.3 million in the same period last year. The increase was primarily due to the expansion of the Go IPO business, as a growing number of Japanese venture companies continue to express interest in going public on the Nasdaq, in addition to the acquisition of Sigmaways and its subsidiaries.

Gross profit increased 361% to $5.6 million (gross margin of 64%) from $1.2 million (gross margin of 54%) in the same period last year. The increase was primarily due to the aforementioned expansion of the Company’s Go IPO business.

Operating expenses increased to $3.3 million from $2.8 million in the same period last year. The increase was primarily due to increased selling expenses, as well as increased general and administrative expenses.

Net income was $1.8 million, or $0.10 per diluted share, compared to net loss of approximately $1.6 million or $(0.09) per diluted share last year. The increase in net income was primarily due to the aforementioned expansion of the Company’s Go IPO business in addition to relatively stable operating expenses.

As of March 31, 2023, the Company had cash and cash equivalents of $5.2 million compared to $7.2 million as of December 31, 2022.

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About HeartCore Enterprises, Inc.
Headquartered in Tokyo, Japan, HeartCore Enterprises is a leading software development company offering Software as a Service (SaaS) solutions to enterprise customers in Japan and worldwide. The Company also provides data analytics services that allow enterprise businesses to create tailored web experiences for their clients through best-in-class design. HeartCore’s customer experience management platform (CXM Platform) includes marketing, sales, service and content management systems, as well as other tools and integrations, which enable companies to enhance the customer experience and drive engagement. HeartCore also operates a digital transformation business that provides customers with robotics process automation, process mining and task mining to accelerate the digital transformation of enterprises. Furthermore, HeartCore offers “Go IPO,” a consulting service where it assists private companies with uplisting onto the Nasdaq Stock Market. Additional information about the Company’s products and services is available at www.heartcore.co.jp and https://heartcore-enterprises.com/.

Forward-Looking Statements
All statements other than statements of historical facts included in this press release are forward- looking statements. In some cases, forward-looking statements can be identified by words such as “believe,” “intend,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks, and uncertainties are discussed in HeartCore’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond HeartCore’s control which could, and likely will materially affect actual results, and levels of activity, performance, or achievements. Any forward-looking statement reflects HeartCore’s current views with respect to future events and is subject to these and other risks, uncertainties, and assumptions relating to operations, results of operations, growth strategy, and liquidity. HeartCore assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The contents of any website referenced in this press release are not incorporated by reference herein.

HeartCore Investor Relations Contact:
Gateway Group, Inc.
Matt Glover and John Yi
[email protected]
(949) 574-3860

 
HeartCore Enterprises, Inc.
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
           
           
    For the three months
ended March 31,
    For the three months
ended March 31,
    2023      2022 
           
Revenues $ 8,734,150     $ 2,276,001  
Cost of revenues   3,101,066       1,055,356  
Gross profit   5,633,084       1,220,645  
           
Operating expenses:          
Selling expenses   568,642       205,918  
General and administrative expenses   2,685,207       2,468,933  
Research and development expenses   79,624       108,259  
Total operating expenses   3,333,473       2,783,110  
           
Income (loss) from operations   2,299,611       (1,562,465 )
           
Other income (expenses):          
Changes in fair value of investments in warrants   193,365        
Interest income   31,605       1,458  
Interest expenses   (39,840 )     (11,271 )
Other income   14,201       16,673  
Other expenses   (29,457 )     (23,662 )
Total other income (expenses)   169,874       (16,802 )
           
Income (loss) before income tax provision   2,469,485       (1,579,267 )
           
Income tax expense (benefit)   661,448       (816 )
           
Net income (loss)   1,808,037       (1,578,451 )
Less: net loss attributable to non-controlling interest   (74,252 )      
Net income (loss) attributable to HeartCore Enterprises, Inc. $ 1,882,289     $ (1,578,451 )
           
Other comprehensive income (loss):          
Foreign currency translation adjustment   (25,034 )     80,053  
           
Total comprehensive income (loss)   1,783,003       (1,498,398 )
Less: comprehensive loss attributable to non-controlling interest   (76,542 )      
Comprehensive income (loss) attributable to HeartCore Enterprises, Inc. $ 1,859,545     $ (1,498,398 )
           
Net income (loss) per common share attributable to HeartCore Enterprises, Inc.      
    Basic $ 0.10     $ (0.09 )
    Diluted $ 0.10     $ (0.09 )
           
Weighted average common shares outstanding          
    Basic   19,066,160       17,265,332  
    Diluted   19,066,160       17,265,332  
           
           
         
HeartCore Enterprises, Inc.
Condensed Consolidated Balance Sheets
         
    March 31,   December 31,
    2023    2022 
    (Unaudited)    
ASSETS
         
Current assets:        
Cash and cash equivalents $ 5,209,915   $ 7,177,326  
Accounts receivable   2,380,128     551,064  
Short-term investment in warrants   437,812      
Prepaid expenses   919,916     538,230  
Due from related party   47,536     48,447  
Other current assets   31,534     220,070  
Total current assets   9,026,841     8,535,137  
         
Non-current assets:        
Property and equipment, net   214,566     203,627  
Operating lease right-of-use assets   2,549,834     2,644,957  
Intangible asset, net   4,993,750      
Goodwill   3,276,441      
Long-term investment in warrants   3,764,888      
Deferred tax assets   245,997     263,339  
Security deposits   367,981     244,395  
Long-term loan receivable from related party   229,955     246,472  
Other non-current assets   75     661  
Total non-current assets   15,643,487     3,603,451  
         
Total assets $ 24,670,328   $ 12,138,588  
         
LIABILITIES AND SHAREHOLDERS’ EQUITY
         
Current liabilities:        
Accounts payable and accrued expenses $ 1,160,309   $ 497,742  
Accrued payroll and other employee costs   416,779     360,222  
Due to related party   2,923     402  
Current portion of long-term debts   640,534     697,877  
Insurance premium financing   352,518      
Factoring liability   173,582      
Operating lease liabilities, current   288,081     291,863  
Finance lease liabilities, current   13,663     19,294  
Income tax payables   681,830     2,747  
Deferred revenue   1,530,472     1,724,519  
Other current liabilities   225,167     53,027  
Total current liabilities   5,485,858     3,647,693  
         
Non-current liabilities:        
Long term debts   1,490,664     1,123,735  
Operating lease liabilities, non-current   2,314,160     2,421,054  
Finance lease liabilities, non-current       459  
Deferred tax liabilities   1,398,250      
Other non-current liabilities   135,536     138,018  
Total non-current liabilities   5,338,610     3,683,266  
         
Total liabilities   10,824,468     7,330,959  
         
Shareholders’ equity:        
Preferred shares ($0.0001 par value, 20,000,000 shares authorized, no shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively)        
Common shares ($0.0001 par value, 200,000,000 shares authorized; 20,842,690 and 17,649,886 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively)   2,083     1,764  
Additional paid-in capital   19,079,516     15,014,607  
Accumulated deficit   (8,691,290 )   (10,573,579 )
Accumulated other comprehensive income   342,093     364,837  
Total HeartCore Enterprises, Inc. shareholders’ equity   10,732,402     4,807,629  
Non-controlling interest   3,113,458      
Total shareholders’ equity   13,845,860     4,807,629  
         
Total liabilities and shareholders’ equity $ 24,670,328   $ 12,138,588  
         
         
 
HeartCore Enterprises, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
         
    For the three months ended March 31,   For the three months ended March 31,
    2023    2022 
         
Cash flows from operating activities        
Net income (loss) $ 1,808,037   $ (1,578,451 )
Adjustments to reconcile net income (loss) to net cash        
used in operating activities:        
Depreciation and amortization expenses   123,312     24,889  
Amortization of debt issuance costs   758     866  
Non-cash lease expense   76,017     75,986  
Deferred income taxes   (17,284 )   6,311  
Stock-based compensation   915,228     422,164  
Warrants received as noncash consideration   (4,009,335 )    
Changes in fair value of investments in warrants   (193,365 )    
Changes in assets and liabilities:        
Accounts receivable   (66,833 )   (217,638 )
Prepaid expenses   (45 )   (488,970 )
Other assets   78,241     (34,896 )
Accounts payable and accrued expenses   (94,363 )   (79,982 )
Accrued payroll and other employee costs   (178,733 )   (27,492 )
Due to related party   2,544      
Operating lease liabilities   (73,147 )   (78,226 )
Finance lease liabilities   (53 )   (174 )
Income tax payables   678,725     (10,037 )
Deferred revenue   (167,873 )   (295,176 )
Other liabilities   70,110     (113,027 )
Net cash flows used in operating activities   (1,048,059 )   (2,393,853 )
         
Cash flows from investing activities        
Purchases of property and equipment   (9,409 )   (18,903 )
Advance and loan provided to related party       (25,480 )
Repayment of loan provided to related party   11,955     9,102  
Payment for acquisition of subsidiary, net of cash acquired   (724,910 )    
Net cash flows used in investing activities   (722,364 )   (35,281 )
         
Cash flows from financing activities        
Proceeds from initial public offering, net of issuance cost       13,602,554  
Proceeds from issuance of common shares prior to initial public offering       220,572  
Payments for finance leases   (5,658 )   (14,916 )
Proceeds from long-term debt       258,087  
Repayment of long-term debts   (265,255 )   (308,121 )
Repayment of insurance premium financing   (36,517 )   (41,280 )
Repayment to related party       (903 )
Net proceeds from factoring arrangement   173,582      
Payments for debt issuance costs   (448 )   (1,030 )
Payment for mandatorily redeemable financial interest       (430,489 )
Net cash flows provided by (used in) financing activities   (134,296 )   13,284,474  
         
Effect of exchange rate changes   (62,692 )   (78,293 )
         
Net change in cash and cash equivalents   (1,967,411 )   10,777,047  
         
Cash and cash equivalents – beginning of the period   7,177,326     3,136,839  
         
Cash and cash equivalents – end of the period $ 5,209,915   $ 13,913,886  
         
Supplemental cash flow disclosures:        
Interest paid $ 16,968   $ 13,262  
Income taxes paid $   $ 1,489  
         
Non-cash investing and financing transactions        
Payroll withheld as repayment of loan receivable from employees $   $ 2,065  
Expense paid by related party on behalf of the Company $   $ 25,480  
Share repurchase liability settled by issuance of common shares $   $ 16  
Deferred offering costs recognized against the proceeds from the offering $   $ 178,847  
Insurance premium financing $ 389,035   $ 388,538  
Liabilities assumed in connection with purchase of property and equipment $ 6,288   $  
Common shares issued for acquisition of subsidiary $ 3,150,000   $  
         
         

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Artificial Intelligence

ResourceWise Brings Its Cross-Commodity Data and Analytics Expertise to New Oleochemicals Service

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ResourceWise has met a key milestone in providing cross-commodity price benchmarks, data, and analysis on chemicals, forest products, and decarbonization markets. 
CHARLOTTE, N.C., June 24, 2024 /PRNewswire/ — ResourceWise has met a key milestone in providing cross-commodity price benchmarks, data, and analysis on chemicals, forest products, and decarbonization markets. 

For the first time, one digital product encompasses expertise that spans all the key commodity sectors that ResourceWise covers. Dedicated to renewable feedstock, the new platform-based oleochemicals analysis and insight tools draw on decades of experience within each distinct business sector. 
Dwight Lynch, Biomaterials Business Manager at ResourceWise, is leading the transition towards data and insight on renewable intermediates and biobased and biodegradable polymer inputs. 
“Navigating oleochemicals markets at a time when regulation, legislation, and competition from renewable fuels markets are the key drivers is a challenge. Our new service offers pricing and analysis that informs decision-makers and allows sustainable business to thrive.” 
The new oleochemicals portal in ResourceWise’s flagship chemicals market intelligence platform, OrbiChem360, has evolved beyond its legacy biomaterials insights to focus on the fats and oils markets that are key to sustainability.  
It presents pricing data and analysis that ResourceWise biomaterials experts have furnished within OrbiChem360 this past decade and includes a crude tall oil (CTO) price index. The inclusion of a forest-based output introduces the ResourceWise platform FisherSolve’s pulp and paper industry insight to our portfolio. 
Pete Stewart, the CEO of ResourceWise, is focused on the future. “From raw material converters to end-use consumer goods producers, manufacturing value chain participants are increasingly seeking cross-commodity insights to meet low-carbon targets. We are building and providing the data and analytics businesses need to achieve environmental, social, and governance (ESG) targets and market products competitively worldwide.  
“The ResourceWise mission is to use the intelligence within the increasingly inter-related business sectors we have harnessed to guide customers in their journey toward a net-zero future. This new offering is the first of many milestones in our endeavor to do just that,” adds Stewart.  
A Streamlined Renewable Chemicals Service  
The new product leverages oleochemical pricing and commentary gathered by ResourceWise legacy brands since 2014 and insight collected since the 1990s. It extends our regional reach with additional price points and streamlines the data and analytics provided.  
The new portal is designed with personal care, cosmetics, detergents, lubricants, pharmaceuticals, flavor and fragrance, and food and beverage market participants in mind. However, it provides pricing data and insights for producers, intermediaries, and consumer product manufacturers in broader industries. 
More Than Forty Current and Historical Prices          
International price indexes for oleochemicals include the feedstocks soybean, coconut, tall, rapeseed, and palm oils, as well as tallow and glycerine grades Dozens of spot and contract prices for fatty acids and fatty alcohols plus comprehensive commentary based on intelligence from a worldwide contact base       Low-carbon price benchmarks and commentary in our oleochemicals offering will increasingly leverage intelligence on the biofuels sector within the Prima CarbonZero platform      Global Trade Flow graphics for all oils and tallow to help customers understand how key plant and animal-based feedstocks are traded globally to identify new markets and sources   Industry experts contextualize data, making it actionable, and respond personally to customer inquiries By bridging information gaps in the chemicals market, OrbiChem360 subscribers gain a competitive edge in volatile markets. The platform provides decision makers with robust, data-driven insight that unravels market trends so they can harness growth opportunities. For more information on the OrbiChem360 platform, visit the ResourceWise OrbiChem360 page. 
CONTACT:
Contact:Suz-Anne Kinney          Vice President, Marketing & Communications at [email protected]  +1 (980) 233-4021
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/resourcewise/r/resourcewise-brings-its-cross-commodity-data-and-analytics-expertise-to-new-oleochemicals-service,c4005742

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AI Vulnerability Scanning market Size to Grow USD 7,574.30 Million by 2030 at a CAGR of 13.52% | Valuates Reports

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BANGALORE, India, June 24, 2024 /PRNewswire/ — AI Vulnerability Scanning market is Segmented by Type (On-premises, Cloud-Based), by Application (SMEs, Large Enterprise): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The global AI Vulnerability Scanning market was valued at USD 3121.56 million in 2023 and is anticipated to reach USD 7,574.30 million by 2030, witnessing a CAGR of 13.52% during the forecast period 2024-2030.
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 Major Factors Driving the Growth of AI Vulnerability Scanning Market:
The market for AI vulnerability assessment is being pushed by the growing requirement for strong cybersecurity defenses against increasingly complex and dynamic cyberthreats. AI-specific vulnerabilities are becoming more likely as organizations use machine learning (ML) and artificial intelligence (AI) more extensively, which calls for the use of specialized scanning solutions. AI vulnerability scanners use cutting-edge algorithms to find and fix security flaws in AI models, shielding against criminal activity, data breaches, and adversarial attacks. The demand for AI vulnerability screening tools is being driven primarily by the increasing awareness of AI security concerns, regulatory constraints for strict data protection, and the integration of AI across multiple sectors, including banking, healthcare, and automotive. Furthermore, improvements in AI and ML methods boost these scanning solutions’ efficacy and propel the market forward.
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TRENDS INFLUENCING THE GROWTH OF THE AI VULNERABILITY SCANNING MARKET
Because cloud-based AI vulnerability scanning provides scalable, effective, and all-encompassing security solutions, it is driving the growth of the AI vulnerability scanning market in major companies. By constantly monitoring and analyzing enormous volumes of data across enterprise networks, these cloud-based systems make use of cutting-edge AI algorithms to spot possible vulnerabilities in real time. Large businesses can effectively manage security across different and complex IT infrastructures thanks to the flexibility and scalability of cloud solutions, which guarantees strong defense against constantly changing cyber threats. Furthermore, cloud-based platforms’ centralized architecture makes it simpler to integrate and upgrade with pre-existing security frameworks, which improves overall resiliency. The market is expanding significantly as a result of large organizations prioritizing cybersecurity and the increased need for advanced, AI-driven vulnerability detection solutions.
The market for AI vulnerability scanning is primarily driven by the rise in complex cyberthreats. Organizations are becoming more cognizant of the necessity for sophisticated security measures as cyber threats escalate in complexity and frequency. When it comes to identifying and countering these contemporary threats, traditional vulnerability scanning techniques frequently fall short. Real-time detection and prediction analysis capabilities are provided by AI-powered vulnerability scanning solutions, which can detect possible security breaches before they happen. Organizations must make significant investments in AI-based security solutions in order to preserve business continuity and protect critical data.
One major element propelling the market expansion for AI vulnerability scanning is regulatory compliance. Tight laws are being passed by governments and business associations across the globe to guarantee cybersecurity and data security. Sufficient observance of regulations like GDPR, HIPAA, and CCPA necessitates ongoing security vulnerability reporting and monitoring. AI vulnerability scanning systems offer thorough and automated security assessments, which assist enterprises in meeting these legal obligations. This ability not only guarantees compliance but also lowers the possibility of fines and harm to one’s reputation, which motivates more companies to choose AI-powered security solutions.
Another important element propelling the market for AI vulnerability scanning is cost effectiveness. Conventional security methods are resource-intensive and can require a large amount of manual effort, which raises operational costs. The identification and mitigation of security threats are automated by AI-powered vulnerability scanning solutions, which minimizes the need for significant human participation. Organizations save a significant amount of money because of this automation, especially big businesses with sophisticated IT infrastructures. Furthermore, early vulnerability detection reduces the possible financial effect of cyberattacks, which makes AI-driven solutions a financially viable choice for companies.
The market for AI vulnerability scanning is expanding due in large part to the need for real-time threat identification. Real-time security threat detection and response is essential in today’s fast-paced digital world. Artificial intelligence (AI)-driven vulnerability scanning solutions enable businesses to quickly respond to possible threats by offering continuous monitoring and instantaneous analysis of security weaknesses. Reducing the effects of cyberattacks and preserving the integrity of vital systems depend on this real-time detection capabilities. Adoption of AI-based security solutions is driven by the increased requirement for quick reaction to threats.
The market for AI vulnerability screening is being driven by several factors, including increased accuracy and precision. Conventional vulnerability scanning techniques can miss subtle security risks and generate false positives. On the other hand, AI-powered products use sophisticated analytics and machine learning algorithms to pinpoint vulnerabilities extremely precisely. This lowers the quantity of false alarms and guarantees that serious dangers are dealt with right away. Because AI-driven solutions are more accurate, security measures are more effective overall, which is why businesses looking for dependable and all-inclusive vulnerability management choose them.
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AI VULNERABILITY SCANNING MARKET SHARE ANALYSIS
The market for AI vulnerability scanning is dominated by North America because of the region’s strong emphasis on cybersecurity and technical improvements. Because there are so many tech businesses, financial institutions, and government organizations in the US that need to implement strong cybersecurity measures, the country is a big participant in this space. The development and uptake of sophisticated vulnerability scanning solutions are aided by the presence of significant AI and cybersecurity companies in the area. The industry is additionally driven by strict regulatory requirements, such as those imposed by the Health Insurance Portability and Accountability Act (HIPAA) and the Federal Information Security Management Act (FISMA), which force firms to install extensive security measures. The increased frequency of cyberattacks in North America emphasizes the necessity for sophisticated AI-powered security measures.
Key Players:
European UnionCRYPTTECHSecPointTheSmartScannerSecureWorksCybotsCyber OrionImmuniWeb SAVertaHuawei CloudFreeBufAlibaba CloudIBMGoogle CloudBARUTUAmazon AWSPurchase Regional Data: https://reports.valuates.com/request/regional/QYRE-Auto-12L15782/Global_AI_Vulnerability_Scanning_Market_Research_Report_2023
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–  The emotion AI market was valued at USD 1.8 billion in 2022, and is estimated to reach USD 13.8 billion by 2032, growing at a CAGR of 22.7% from 2023 to 2032.
–  The global AI Image Generator market was valued at USD 426 million in 2023 and is anticipated to reach USD 899.3 million by 2030, witnessing a CAGR of 11.5% during the forecast period 2024-2030.
–  The global AI Server PCB market size is expected to reach USD 197.4 million by 2029, growing at a CAGR of 12.0% from 2023 to 2029.
–  Artificial Intelligence (AI) in Mining Market
–  The global market for AI Server was estimated to be worth USD 14860 million in 2023 and is forecast to a readjusted size of USD 78810 million by 2030 with a CAGR of 16.4% during the forecast period 2024-2030.
–  The global AI Speech Recognition market was valued at USD 3856 million in 2023 and is anticipated to reach USD 17870 million by 2030, witnessing a CAGR of 24.9% during the forecast period 2024-2030.
–  The Global AI Crypto Trading Bot Market was valued at USD 21.69  Million in 2022 and is anticipated to reach USD 145.27 Million by 2029, witnessing a CAGR of 37.2% during the forecast period 2023-2029.
–  Generative AI Solution Market
–  AI Disease Detection Market
–  The AI in energy market size was valued at USD 4 billion in 2021, and is estimated to reach USD 19.8 billion by 2031, growing at a CAGR of 17.4% from 2022 to 2031.
–  The ai powered storage market size was valued at USD 15.6 billion in 2021, and is estimated to reach USD 162.5 billion by 2031, growing at a CAGR of 26.7% from 2022 to 2031.
–  The global Edge AI Software market was valued at USD 931.5 million in 2022 and is anticipated to reach USD 3519.4 million by 2029, witnessing a CAGR of 24.8% during the forecast period 2023-2029.
–  Virtual Reality 3D Scanning Market
–  The global 3D Laser Scanning Services market was valued at USD 955 million in 2023 and is anticipated to reach USD 2723.1 million by 2030, witnessing a CAGR of 16.0% during the forecast period 2024-2030.
–  Scanning Software Market
–  Profile Scanners Market
–  Transmission Scanning Imaging Systems Market
–  The global Food Scanning Technology market size is expected to reach USD 2162.6 million by 2029, growing at a CAGR of 7.3% from 2023 to 2029.
–  Document Scanning Services Market
–  The global Intraoral 3D Scanning market was valued at USD 1142 million in 2023 and is anticipated to reach USD 1878.9 million by 2030, witnessing a CAGR of 7.0% during the forecast period 2024-2030.
–  Scanning Acoustic Microscopy Equipment Market
–  Oral Scanning Devices Market
–  Sheetfed Scanner Market
–  Vulnerability Management Solution Market
–  The global Security and Vulnerability Assessment market was valued at USD 13800 million in 2023 and is anticipated to reach USD 26890 million by 2030, witnessing a CAGR of 9.5% during the forecast period 2024-2030.
–  Risk Based Vulnerability Management Tool Market
–  Vulnerability Analysis Tools Market
–  Web Application Vulnerability Scanner Market
–  Vulnerability Management Software Market
–  Hazard Vulnerability Emergency Management Market
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Artificial Intelligence

Timekettle Announces HybridComm 3.0 Upgrade, Marking a New Era in Near-human-level AI Translation Technology

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timekettle-announces-hybridcomm-3.0-upgrade,-marking-a-new-era-in-near-human-level-ai-translation-technology

SHENZHEN, China, June 24, 2024 /PRNewswire/ — Timekettle is excited to announce the release of its latest software upgrade, the AI Semantic Segmentation. Powered by Timekettle’s cutting-edge TurboFast Technology under HybridComm 3.0, the AI Semantic Segmentation sets a new standard in real-time language translation, solidifying Timekettle’s position as the expert in AI translator earbuds.

As the pioneer and innovator in cross-language communication solutions, Timekettle has relentlessly advanced the field through innovative products, marking a significant chapter in AI translation devices. Initially offering handheld translators for simple exchanges, Timekettle’s breakthrough came with the WT2 Plus Translator Earbuds, featuring HybridComm 1.0 for seamless, one-way translation and a speaker mode for broader communication. The subsequent launch of the WT2 Edge Real-time Translator Earbuds, with HybridComm 2.0, enabled natural, bidirectional conversations. The latest advancement, powered by HybridComm 3.0 featuring the AI Semantic Segmentation, significantly enhances translation efficiency and accuracy, marking a new era in near-human-level AI translation technology.
Leveraging the advanced TurboFast Technology, the AI Semantic Segmentation ensures a seamless and instant translation experience, helping the translated speech align perfectly with the speaker’s rhythm, and eradicating the issue of delayed translated output in crucial communication scenarios. It begins by grasping the core meaning of sentences. Once it aligns closely with the “entirely correct” benchmark, it begins translating while still processing the original voice, allowing users to hear the translated audio sooner.
Thanks to the AI Semantic Segmentation, the delay in receiving translated audio has been reduced by 200%, bringing its real-time translation capabilities on par with live interpretation. Internal test conducted recently revealed that with the AI Semantic Segmentation, a translated speech only delays a sentence lag time, while other traditional speech translation devices may experience significant delays of 30 to 40 seconds.
This significant reduction, cutting over 20 seconds of waiting time, has revolutionized continuous communication. Picture being at a conference room where attendees can instantly hear the translation of a sentence right as the speaker starts the next. Such a seamless flow of communication marks a new era of cross-language interaction, paving the way for a more connected world.
The AI Semantic Segmentation is now available on Timekettle WT2 Edge Real-time Translator Earbuds, M3 Language Translator Earbuds, and X1 AI Interpreter Hub (One-on-one mode, Listen & Play mode, and Ask & Go mode for now; Voice Call mode and more starting June 28th) and upon installing the latest software update for existing users. 
About Timekettle
Established in 2016, Timekettle is dedicated to advancing cross-language communication through innovative products and solutions. Recognized with numerous international accolades, including the CES Innovation Award, iF Design Award, and Japan Good Design Award, Timekettle’s products have proudly served the needs of cross-language communication in a variety of user scenarios, including abroad-living, traveling, multi-language meetings and classrooms, as well as in manufacturing and logistics, and beyond. Having solidified a user database of more than 400,000, Timekettle continues its journey as the Global No.1 AI Translator Device.
For further information, please visit https://www.timekettle.co/ or contact [email protected]
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