Artificial Intelligence
Commercial Seaweed Market Size is projected to reach USD 11.82 billion by 2031, growing at a CAGR of 2%: Straits Research
New York, United States, June 14, 2023 (GLOBE NEWSWIRE) — Globally, seaweeds are widely used in a variety of food products. Seaweed is traditionally consumed as food in China, Japan, and South Korea. In addition, it is gaining popularity in western nations due to its health benefits, as seaweeds contain vitamins, minerals, and fibers, increasing consumer demand. In addition, seaweed harvesting has increased due to the rising demand for seaweed-based products. It is anticipated that the rising demand for seaweeds in the production of hydrocolloids such as agar, alginate, and carrageenan will increase the demand for seaweeds. Agar, alginate, and carrageenan are premium seaweed hydrocolloids utilized as gelation and thickening agents in various food, pharmaceutical, and biotechnology applications.
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Growing Usage of Seaweeds in the Food Processing Industry to Drive the Global Commercial Seaweed Market
Globally, seaweeds are widely employed in a variety of food products. Seaweed is traditionally consumed as food in China, Japan, and South Korea. However, as consumers from these countries have migrated to other regions of the world, the demand for seaweed as a food source has followed them, as evidenced by the rising demand in some areas of the United States and South America, where the Asian population represents 5.4% of the total population and is still growing. Some French government and commercial organizations have successfully promoted seaweeds for restaurant and domestic use. In some developing countries with a tradition of consuming fresh seaweeds as vegetables and in salads, there exists an informal market among coastal residents.
Numerous studies have evaluated individual seaweeds’ gelling, thickening, and therapeutic properties. This also emphasizes the nutritional, textural, sensory, and health benefits of food products containing seaweed and extracts. In the food and beverage industry, the influence of seaweed incorporation on meat, fish, bakery, and other food products has increased dramatically. According to recent data cited by the United Nations Commodity Trade, the export/import value of seaweed (2012-2020) and other forms of algae for human consumption in Europe has increased consistently, indicating a rise in the use of seaweed ingredients in the food processing industry in Europe and the global market.
Increased Demand of Seaweed in the Personal Care Industry to Provide Opportunities for the Global Commercial Seaweed Market
The increasing use of seaweed in beauty and personal care products is due to its effectiveness as a natural treatment for curly hair and long-lasting skin moisturizer. In addition, the skin benefits of these extracts and their compatibility with new consumer demands for natural products in personal care products have led to a recent increase in ingredient claims. A rich combination of nutrients, including Vitamin B12, iodine, and phenols, confers emollient and purifying properties to seaweed. It is used in rejuvenating skincare formulations beneficial for oily and acne-prone skin. Additionally, the use of seaweed powder in hair care increases hair volume. In addition, seaweed powder can be incorporated into detoxifying baths and spa treatments, moisturizing creams, lotions, exfoliating soaps, scrubs, cleansers, and hair masks.
Seaweed powder, a common ingredient in natural body care products and vegan blends, is easily absorbed and imparts hydrating properties to formulations. It is a highly valued ingredient in formulations promoting healthy skin appearance. Additionally, it is commonly found in detoxifying bath, spa, and hair care products that help maintain the body and bounce. Seaweed has a variety of applications in natural beauty products, both for enhancing the blends’ integrity and their beneficial properties. It is utilized in emulsions as a binder to help stabilize the formulation and improve its texture. All of these factors contribute to market growth.
Report Scope
| Report Metric | Details |
| Market Size by 2031 | USD 11.82 Billion |
| Market Size in 2022 | USD 9.89 billion |
| CAGR | 2% |
| Historical Data | 2020-2021 |
| Base Year | 2022 |
| Forecast Period | 2023-2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, By Application |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Cargill Incorporated ,International Flavors & Fragrances Inc ,Acadian Seaplants Limited ,J.M. Huber Corporation ,Seasol International ,Maabarot Products Ltd ,Extractos Naturales Gelymar SA ,ChemChina (Algea, the Arctic Company) ,Groupe Roullier (Nuwen) ,Leili Group, Seaweed ,GF Food Hydrocolloid Marine Science Co. Ltd |
| Key Market Opportunities | Increased Demand for Seaweed in the Personal Care Industry |
| Key Market Drivers | Growing Usage of Seaweeds in the Food Processing Industry |
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Regional Insights
By Region, the global commercial seaweed market is segmented into North America, Europe, Asia Pacific, South America, the Middle East & Africa.
Asia Pacific dominated the market and is estimated to grow at a CAGR of 9.8% during the forecast period. China is one of the top edible seaweed producers in the Asian region. Laminaria, Undaria, Porphyra, Gelidium, Gracilaria, Eucheuma, and Macrocystis are the predominant seaweed species with commercial importance in the nation. China’s national and provincial governments supported the development of the seaweed industry with policies, finances, funds, onshore and offshore farming areas, freshwater resources, etc. China’s national government initiated industry reorganization in response to pressing environmental and ecological concerns, such as the impact of rising air and water pollution on offshore industries. Due to this factor, the national government intended to reorganize the layout of offshore seaweed farming and its industrial processing, which drives market expansion.
North America is the second largest region. It is estimated to reach an expected at a CAGR of 5.8%. Seaweed products are gaining popularity in the United States, as grocery stores, club stores, and restaurants across the country offer them. A growing number of fresh and dried seaweed products are on the market. In addition, an increasing number of products are grown and processed in the United States, even though the market is dominated by seaweed suppliers based in Asia. Seaweeds are considered nutritious greens due to their high mineral content, essential amino acids, and protein content. They are considered the nation’s new “superfood” The country’s health-conscious consumers are aware of the benefits of low-calorie foods, such as lowering blood pressure and preventing obesity. Diverse demographic groups in the United States, especially millennials, are developing increasingly adventurous tastes. These groups appreciate the umami flavor that seaweeds add to foods. Due to the nutritional value, high protein content, and health benefits of seaweed, many entrepreneurs are developing new business models, farming methods, technologies, and designs that incorporate environmental sustainability and ocean biodiversity to capitalize on seaweed farming nationwide.
Europe is the third largest region. Due to the expanded food and beverage applications, including meat and meat processing, dairy, confectionery, baked products, and alcoholic beverages, the commercial seaweed market in Germany grew at the quickest rate during the projected period and is likely to continue growing at the same rate. Being naturally formed from algae and marine plants, seaweed-based hydrocolloids are frequently utilized in various plant-based food and beverage applications, including everything from vegetarian sausage casings to vegan beverages. In the surge of clean-label, organic, and vegan products in Germany, producers favor seaweed as a thickening and gelling ingredient, which helps the finished products get the necessary label. Carrageenan is one of the most common types of seaweed utilized by food and beverage manufacturers as a gelling agent for, thickening agent for soups and sauce, jellies and puddings, stabilizing agent for ice cream, whipped cream, and beer foam, emulsifier for milk products, cocoa-drinks, and for clarifying beer. The sustainable nature of seaweed extraction and processing makes it an unavoidable alternative for manufacturers of end-user products seeking to improve their overall sustainability.
Key Highlights
- The global commercial seaweed market size is estimated to reach an expected value of USD 11.82 billion by 2031, witnessing a CAGR of 2% during the forecast period (2022-2031).
- By type, the global commercial seaweed market is segmented into brown seaweed, green seaweed, and red seaweed. The brown seaweed segment accounted for the largest market share and is estimated to grow at a CAGR of 8.2% during the forecast period.
- By application, the global commercial seaweed market is segmented into food and beverage, dietary supplement, pharmaceuticals, and other applications. The food and beverage segment accounted for the largest market share and is estimated to grow at a CAGR of 7.7% during the forecast period.
Key companies in the global commercial seaweed market are
- Cargill Incorporated
- International Flavors & Fragrances Inc
- Acadian Seaplants Limited
- J.M. Huber Corporation
- Seasol International
- Maabarot Products Ltd
- Extractos Naturales Gelymar SA
- ChemChina (Algea, the Arctic Company)
- Groupe Roullier (Nuwen)
- Leili Group, Seaweed
- GF Food Hydrocolloid Marine Science Co. Ltd
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Global Commercial Seaweed Market: Segmentation
By Type
- Brown Seaweed
- Green Seaweed
- Red Seaweed
By Application
- Food and Beverage
- Dietary Supplement
- Pharmaceuticals
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TABLE OF CONTENT
- EXECUTIVE SUMMARY
- RESEARCH SCOPE & SEGMENTATION
- Research Objectives
- Market Definition
- Limitations & Assumptions
- Market Scope & Segmentation
- Currency & Pricing Considered
- MARKET OPPORTUNITY ASSESSMENT
- Emerging Regions / Countries
- Emerging Companies
- Emerging Applications / End Use
- Investment Landscape
- New Business Models / Revenue Streams
- TAM
- MARKET TRENDS
- Drivers
- Market Warning Factors
- Latest Macro Economic Indicators
- Geopolitical Impact
- Human Factors
- Technology Factors
- MARKET ASSESSMENT
- Porters Five Forces Analysis
- Value Chain Analysis
- Raw Material Analysis
- Sales And Distribution Channel Analysis
- Trade Analysis
- M & A Agreements & Collabration Analysis
- Export Import Analysis
- Cost Structure Analysis
- ESG TRENDS
- GLOBAL COMMERCIAL SEAWEED MARKET SIZE ANALYSIS
- Global Commercial Seaweed Market Introduction
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- NORTH AMERICA MARKET ANALYSIS
- Introduction
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- U.S.
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- By Type
- Canada
- EUROPE MARKET ANALYSIS
- Introduction
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- U.K.
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- By Type
- Germany
- France
- Spain
- Italy
- Russia
- Nordic
- Benelux
- Rest Of Europe
- APAC MARKET ANALYSIS
- Introduction
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- China
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- By Type
- Korea
- Japan
- India
- Australia
- Taiwan
- South East Asia
- Rest Of Asia-Pacific
- MIDDLE EAST AND AFRICA MARKET ANALYSIS
- Introduction
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- UAE
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- By Type
- Turkey
- Saudi Arabia
- South Africa
- Egypt
- Nigeria
- Rest Of MEA
- LATAM MARKET ANALYSIS
- Introduction
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- Brazil
- By Type
- Introduction
- Type By Value
- Red Seaweed
- By Value
- Brown Seaweed
- By Value
- Green Seaweed
- By Value
- Introduction
- By Form
- Introduction
- Form By Value
- Liquid
- By Value
- Powder
- By Value
- Flakess
- By Value
- Introduction
- By End-User
- Introduction
- End-User By Value
- Food & Beverage Industry
- By Value
- Bakery Products
- Bakery Products By Value
- Confectionery Products
- Confectionery Products By Value
- Dairy Products
- Dairy Products By Value
- Meat & Poultry Products
- Meat & Poultry Products By Value
- Others (Salads, Soups, And Beverages)
- Others (Salads, Soups, And Beverages) By Value
- Agriculture
- By Value
- Pharmaceutical
- By Value
- Animal Feed
- By Value
- Others (Wastewater Treatment, Cosmetics, Biomass For Fuel, And Integrated Aquaculture)
- By Value
- Introduction
- By Type
- Mexico
- Argentina
- Chile
- Colombia
- Rest Of LATAM
- COMPETITIVE ASSESSMENT
- Adoption Matrix
- Commercial Seaweed Market Share By Manufacturers
- Commercial Seaweed Market Ranking By Revenue For Manufacturers
- Average Price By Manufacturers
- Vendor Footprint Analysis
- MARKET PLAYERS ASSESSMENT
- Seasonal International Pty Ltd (Australia)
- Overview
- Business Information
- Revenue
- ASP
- Gross Margin
- Swot Analysis
- Recent Developmments
- Indigrow Ltd (England)
- Cp Kelco (India)
- Chase Organics GB Ltd. (Great Britain)
- Yan Cheng Hairui Food Co. Ltd. (China)
- Arcadian Seaplants Ltd. (Canada)
- Mara Seaweed (Scotland)
- Pacific Harvest (New Zealand)
- BIOSTADT INDIA LIMITED (India)
- Aquatic Chemicals (India)
- Algea AS (Norway)
- W Hydrocolloids Inc. (Philippines)
- Qingdao Seawin Biotech Group Co. Ltd. (China)
- Marcel Carrageenan (Philippines)
- FMC BioPolymer AS (United States)
- DowDuPont (United States)
- Cargill (United States)
- COMPO EXPERT (Germany)
- Roullier Group (France)
- BRANDT (United States)
- Gelymar (Chile)
- Algaia (France)
- CEAMSA (Spain)
- Seawin Biotech (China)
- Seasonal International Pty Ltd (Australia)
- RESEARCH METHODOLOGY
- Research Data
- Secondary Data
- Major Secondary Sources
- Key Data From Secondary Sources
- Primary Data
- Key Data From Primary Sources
- Breakdown Of Primaries
- Secondary And Primary Research
- Key Industry Insights
- Secondary Data
- Market Size Estimation
- Bottom-Up Approach
- Top-Down Approach
- Market Projection
- Research Assumptions
- Assumptions
- Limitations
- Risk Assessment
- Research Data
- APPENDIX
- Discussion Guide
- Customization Options
- Related Reports
- DISCLAIMER
Table of Content and Figure @ https://straitsresearch.com/report/commercial-seaweed-market/toc
Market News
- November 2022 – Cargill and CARE International signed a Memorandum of Understanding (MoU) for a two-year program, ‘She Thrives,’ at a ceremony held in Hanoi today. ‘She Thrives’ aims to improve sustainable livelihoods among rural smallholders, particularly women and ethnic minorities from Dak Lak province in Vietnam, by connecting farmers and producers to the tools and resources they need to enhance their livelihoods sustainably.
- October 2022 – Cargill and its partner Naturisa S.A. have agreed to form a new joint venture with Skyvest EC Holding S.A. to meet the rising demand for high-quality shrimp feed among Ecuadorian shrimp farmers.
News Media
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Global Food Service Equipment Market Worth USD 51.68 Billion With a CAGR of 6.1%
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Artificial Intelligence
Key Tech Stocks Optimizing AI Usability and Infrastructure for a $20-Trillion Future
USA News Group CommentaryIssued on behalf of Avant Technologies Inc.
VANCOUVER, BC, June 21, 2024 /PRNewswire/ — USA News Group – Several big winners have been made already in the ongoing artificial intelligence (AI) revolution. However, there’s clearly none bigger than chipmaking giant NVIDIA Corporation (NASDAQ: NVDA), which just surpassed two of its big tech peers to become the most valued publicly-traded company on the planet. To put it into perspective, NVIDIA’s market cap is currently larger than each of Europe’s largest stock markets, while lucky investors who bet $1000 on NVIDIA stock just ten years ago would be sitting on an extra $297,600 today. Now as analysts are predicting that AI and cryptocurrency could inject $20 trillion into the global economy by 2030, the best minds in the tech sector are moving their pieces into place to secure their piece of the pie. Behind the scenes, tech stocks are optimizing the infrastructure, security, and usability of AI, including new developments from Avant Technologies Inc. (OTCQB: AVAI), International Business Machines Corporation (IBC) (NYSE: IBM), Cloudflare, Inc. (NYSE: NET), and Accenture plc (NYSE: ACN).
Known as a pioneer in the sector for its innovative AI technology, Avant Technologies Inc. (OTCQB: AVAI) has improved its main product, Avant AI™. This sophisticated AI system, celebrated for its advanced machine and deep learning capabilities, is adaptable across a wide range of industries.
In a recent strategic development, Avant has signed a Binding Letter of Intent (BLOI) with Flow Wave, LLC (FW), a Florida-based leader in immersible computer server technology. This agreement allows Avant to acquire up to 50 cutting-edge immersible computer servers from FW in a deal valued at $50 million.
“Avant’s revolutionary AI software platform is poised to transform the landscape of data center management,” said William Hisey, CEO of Avant. “By integrating proprietary machine learning algorithms with open-source innovations into these servers, Avant is developing a highly intelligent system designed to optimize resource allocation, enhance performance, and drive unprecedented levels of efficiency and automation. This marks the beginning of a new era for Avant Technologies, positioning us at the forefront of the supercomputer-driven data center industry and setting new standards for managing and storing AI applications.”
Flow Wave Immersible AI Supercomputer Servers are great for heavy AI and machine learning tasks because they have strong processing power, meaning they can analyze data faster and more efficiently. Their special cooling technology uses less energy, saving money and reducing environmental impact. The servers are also compact and easy to set up, making them ideal for data centers with limited space. Plus, their design helps them last longer and require less maintenance.
Avant plans to tackle the challenges of the digital age by buying up to 50 of these high-performance servers from Flow Wave. These servers, with their advanced cooling technology, boost performance and save energy. This deal shows Avant’s dedication to providing top-notch AI infrastructure and improving efficiency. More details about the transaction will be shared once a definitive agreement is finalized.
One of the most active tech giants in the AI space is International Business Machines Corporation (IBC) (NYSE: IBM), which recently released a new methodology through its IBM Research® wing called LAB (Large-Scale Alignment for ChatBots), through an open-source project called InstructLab with its subsidiary Red Hat®, which IBM acquired for $34 billion in 2019. The InstructLab project builds on the LAB technique for a community-driven approach to language model development through skills and knowledge training.
As well, IBM has teamed up with WPP and LinkedIn to launch a new business-to-business (B2B) solution powered by IBM’s AI and data platform watsonx, designed to reinvent how B2B markets identify and engage clients and prospects across the buying journey. WPP Open for B2B will help marketers solve complex B2B marketing challenges, accurately identify and engage buying groups, and improve clients’ return on investment.
“B2B marketers have been focused on creating truly personalized, relevant and consistent experiences for buying groups at scale for years,” said Jonathan Adashek, Senior Vice President of Marketing and Communications at IBM. “Our collaboration with WPP and LinkedIn provides real-time, actionable insights that are based on trusted data. We are excited to create and use these new, powerful and trusted AI solutions to deliver a force multiplier for B2B marketing.”
Cloud-based security solution provider Cloudflare, Inc. (NYSE: NET) recently announced the general availability of its AI Gateway platform, dubbed as a unified interface for managing and scaling the generative AI workloads of clients. Since its beta launch in September 2023, AI Gateway has handled over 500 million requests and is now ready for full client use.
The general availability release followed upon another Cloudflare announcement of a collaboration with Hugging Face, the leading open and collaborative platform for AI builders, for a one-click-simple global deployment for AI applications. With its Workers AI platform now generally available, Cloudflare became the first serverless inference partner integrated on the Hugging Face Hub for deploying models, enabling developers to quickly, easily, and affordably deploy AI globally, without managing infrastructure or paying for unused compute capacity.
“Workers AI is one of the most affordable and accessible solutions to run inference,” said Matthew Prince, CEO and co-founder, Cloudflare. “With Hugging Face and Cloudflare both deeply aligned in our efforts to democratize AI in a simple, affordable way, we’re giving developers the freedom and agility to choose a model and scale their AI apps from zero to global in an instant.”
Reporting impressive generative AI revenues in its latest Q3 2024 fiscal results has caused shares of Accenture plc (NYSE: ACN) to jump this week, reporting more than $900 million in generative AI bookings in the latest quarter alone.
“Our actions to stay laser-focused on the needs of our clients are clear in our third quarter results,” said Julie Sweet, Chair and CEO of Accenture. “We… achieved two significant milestones this quarter — with $2 billion in Generative AI sales year-to-date and $500 million in revenue year-to-date — which demonstrate our early lead in this critical technology.”
Prior to the financial report, Accenture announced its intent to acquire Italian-based network services company, Fibermind, which specializes in fiber and mobile 5G networks deployment, as well as infrastructure engineering services. Together, Accenture and Fibermind will offer clients network engineering capabilities, deep industry knowledge, and technology assets powered by automation, robotics, data and AI.
Prior to its surge into the position as the world’s most valuable publicly-traded company, NVIDIA Corporation (NASDAQ: NVDA) made a pair of announcements, further cementing its role in the AI revolution.
The first was the announcement of its NVIDIA Omniverse Cloud Sensor RTX, a set of microservices that enable physically accurate sensor simulation to accelerate the development of fully autonomous machines of every kind, allowing developers to test sensor perception and associated AI software at scale in physically accurate, realistic virtual environments prior to real-world deployment.
The second announcement was the NVIDIA AI Computing by HPE, a portfolio of AI solutions and joint go-to-market integrations that enable enterprises to accelerate adoption of generative AI, co-developed with Hewlett Packard (HP).
“Generative AI and accelerated computing are fueling a fundamental transformation as every industry races to join the industrial revolution,” said Jensen Huang, Founder and CEO of NVIDIA. “Never before have NVIDIA and HPE integrated our technologies so deeply – combining the entire NVIDIA AI computing stack along with HPE’s private cloud technology – to equip enterprise clients and AI professionals with the most advanced computing infrastructure and services to expand the frontier of AI.”
All NVIDIA AI Computing offerings by HPE will be available through a combined marketing strategy involving sales teams, channel partners, and training. This strategy includes a global network of system integrators such as Deloitte, HCLTech, Infosys, TCS, and Wipro. These integrators will assist enterprises across various industries in running complex AI workloads.
Source: https://usanewsgroup.com/2023/10/26/unlocking-the-trillion-dollar-ai-market-what-investors-need-to-know/
CONTACT:
USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Avant Technologies Inc. advertising and digital media from the company directly. There may be 3rd parties who may have shares Avant Technologies Inc., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Avant Technologies Inc. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Avant Technologies Inc. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
View original content:https://www.prnewswire.co.uk/news-releases/key-tech-stocks-optimizing-ai-usability-and-infrastructure-for-a-20-trillion-future-302179234.html
TIANJIN, China, June 21, 2024 /PRNewswire/ — On June 20th, Tianjin hosted the opening of the 2024 World Intelligence Expo (WIE). Under the theme “Intelligence: Expansive Development Space, Sustainable Growth Driver,” the event was co-organized by the people’s governments of the Tianjin and Chongqing municipalities.
Chinese President Xi Jinping sent a congratulatory letter to the expo, pointing out that AI, as an important driving force for a new round sci-tech revolution and industrial transformation, will have a far-reaching impact on global economic and social development and human civilization progress. In his letter, Xi also noted that China has attached great importance to the development of AI, actively driven the deep integration of the Internet, big data and AI with real economy to cultivate and build the intelligent industry, accelerate the development of new quality productivity, and provide new momentum for high-quality development.
Chen Min’er, secretary of the CPC Tianjin Committee, addressed the opening ceremony of the expo. Wan Gang, chairman of China Association for Science and Technology, delivered the keynote speech. Hu Henghua, mayor of Chongqing; Wu Zhaohui, vice president of Chinese Academy of Sciences; Liu Liehong, head of the National Data Administration; Long Teng, vice minister of the Ministry of Science and Technology; and Shan Zhongde, vice minister of the Ministry of Industry and Information Technology, addressed the expo, respectively. Tianjin Mayor Zhang Gong presided over the opening ceremony.
In his speech, Chen Min’er pointed out that Tianjin has been adhering to sci-tech innovation and industrial innovation at the same time, actively propelling exploration and practical applications in the realm of AI, and accelerating the development of new quality productivity to better empower its high-quality development and living. Chen added, “Leading sci-tech innovation with intelligence, Tianjin will rev up the R&D and application of some key core technologies, vigorously develop the sci-tech service sector, streamline the supply and demand channels for sci-tech achievements, boost sci-tech and innovation parks to improve their quality and efficiency, and accelerate the inter-sector application of AI to help innovation and breakthroughs in the fields of life science, low-carbon technology, and future research.
According to Hu Henghua, Chongqing is speeding up in digital industrialization and industrial digitization to build itself into a new digital economy highland. The 2025 World Intelligence Expo is scheduled to be held in Chongqing. Hu invited everyone to delineate a new AI landscape together, share golden opportunities during the digitization of Chongqing, and co-build a promising future in the AI era.
Wu Zhaohui suggested strengthening the inter-discipline cooperation to consolidate the AI research foundation, enriching AI scenarios with applets, and deepening industry-institute interactions to build an AI innovation ecosystem.
Zeng Yi, chairman of China Electronics Corporation; Chen Zhongyue, chairman of China Unicom; Yang Yuanqing, chairman and CEO of Lenovo; and Zhou Hongyi, founder of Qihoo 360 delivered speeches.
Contact: Xing MeiqiTel: 0086-22-28209030E-mail: [email protected]
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View original content:https://www.prnewswire.co.uk/news-releases/2024-world-intelligence-expo-begins-with-a-grand-opening-in-tianjin-302179192.html
Artificial Intelligence
Tech Developers Pioneering AI Tools to Revolutionize Future Productivity and Logistics
USA News Group CommentaryIssued on behalf of Scope AI Corp.
VANCOUVER, BC, June 21, 2024 /PRNewswire/ — USA News Group – How we embrace this surging adoption of artificial intelligence (AI) in the economy of the future remains up for debate. Already, we’re seeing the impact of AI adoption in the workplace, in culture, and in finance, but it won’t end there. According to Goldman Sachs, AI is showing “very positive” signs of eventually boosting GDP and productivity, while some experts are remarking that the generative AI tech wave is sweeping in much faster (maybe 10x) than early internet. Behind the scenes, tech developers are building AI-powered tools that could potentially revolutionize productivity and logistics in the future, with recent developments coming from Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Meta Platforms, Inc. (NASDAQ: META), Amazon.com, Inc. (NASDAQ: AMZN), Microsoft Corporation (NASDAQ: MSFT), and SoundHound AI, Inc. (NASDAQ: SOUN, SOUNW).
As deep machine learning evolves rapidly, Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) has rebranded and shifted its market focus to target sectors such as advertising, gaming, and neural networks with its advanced GEM (General Enterprise Machine Learning) technology.
Scope AI’s ongoing development of GEM aims to assist businesses in creating custom object detection and visual information systems, maximizing the potential of neural networks. The company’s strategic initiatives are set to potentially revolutionize advertising personalization, gaming enhancements, and various applications of neural networks.
Recently, Scope AI unveiled significant enhancements to GEM, designed to better serve advertising agencies and the gaming industry. These updates aim to optimize advertising content and improve gameplay experiences through advanced neural network functionalities. By the end of May, Scope AI had announced its collaboration with several leading ad agencies and ad networks, to gain insights into the primary challenges these organizations face in analyzing the efficacy of different ad creatives and page layouts, as well as the difficulties and costs associated with testing.
The timing of Scope AI’s assistance in advertising couldn’t be better, as global advertising executives are currently struggling with the injection of AI into their sphere. The worry is that if everyone is using AI for their images, nothing stands out. This is where Scope AI’s potential with GEM rises, in helping these ad execs to better discern their ad campaigns, and how to deliver them.
“Our approach is to start with the pain points of our potential users and build solutions based on those insights,” said James Young, CEO of Scope AI Corp. “We believe in understanding the real-world challenges faced by our partners, rather than falling into the common software trap of ‘build it and they will come.’ This collaboration ensures that GEM is not just another tool, but a solution that addresses the specific needs of the advertising community.”
GEM’s enhanced object visual recognition capabilities are intended to provide businesses with deeper insights and more precise solutions. Consequently, advertisers may potentially analyze consumer behavior more effectively and refine their campaigns, while game developers could create more engaging and immersive user experiences.
“We’re very pleased at how seamless we were able to streamline, enhance, and strengthen our platform with the latest performance and security upgrades made to our infrastructure,” said Sean Prescott, Founder and Non-Executive Chairman of Scope AI. “The next generation of our platform will set us apart in what kind of data and its sensitivity we can process and store. It’s a potential game-changer for the industry.”
Social media platform giant Meta Platforms, Inc. (NASDAQ: META) recently announced an initiative to release new AI research models in order to accelerate innovation at scale. As per the initiative, Meta’s Fundamental AI Research team is publicly releasing several models to accelerate future research and allow others to innovate and apply AI at scale.
According to the accompanying Meta blog post, the company states, “We believe that access to state-of-the-art AI creates opportunities for everyone.”
Meanwhile, however, Meta has also been asked to delay training its AI on data from users in the European Union. After intervention by the Irish Data Protection Commission, Meta now must delay its plan to train its large language models on Facebook and Instagram content from EU users.
“We’re disappointed by the request from the Irish Data Protection Commission (DPC), our lead regulator, on behalf of the European DPAs, to delay training our large language models (LLMs) using public content shared by adults on Facebook and Instagram — particularly since we incorporated regulatory feedback and the European DPAs have been informed since March,” wrote Stefano Fratta, Global Engagement Director for Privacy Policy for Meta in a blog post. “This is a step backwards for European innovation, competition in AI development and further delays bringing the benefits of AI to people in Europe.”
Meanwhile, Amazon.com, Inc. (NASDAQ: AMZN) seems undeterred in Europe, expanding its generative AI listing tools to sellers across the continent. As per the expansion, sellers in France, German, Italy, Spain, and the UK can now leverage the power of generative AI to greatly simplify the process of product listing creation as well as enriching existing product listings to better resonate with customers and help drive sales.
“These generative AI-powered tools simplify the listing creation process, allowing sellers to generate compelling product titles, descriptions, and other details by simply providing a few descriptive words or just uploading a product image,” said Amazon in the accompanying blog post. “We suggest product listings that are high-quality and designed to be engaging for customers in our store. This streamlines operations and allows sellers to focus on other aspects of their business.”
Amazon has long utilized AI to assist its selling partners by pioneering personalized product recommendations based on customer behavior, enabling sellers to highlight relevant products. Advanced machine learning models are used for demand forecasting and inventory management, helping sellers avoid stock shortages. AI-powered pricing tools provide dynamic pricing insights, while recent innovations include generating rich Premium A+ Content and augmented reality visualizations. In fulfillment centers worldwide, AI helps stock products locally to ensure faster deliveries and greater availability of everyday essentials. In Europe, AI reduced the average package travel distance by 25kms in 2023, enhancing delivery speed and sustainability.
Microsoft Corporation (NASDAQ: MSFT) recently decided to delay the release of its Recall AI feature on PCs, based on security concerns. The Recall feature logs activities from web browsing to voice chats, creating a searchable history on the user’s computer. This allows users to easily find and recall actions from months ago.
Experts are already labeling Microsoft as a “frontrunner in the generative AI race”, with analysts expecting big things from the software giant, citing a “strong competitive cloude edge” coming, as they estimate Microsoft’s Copilot deployments could add around $25 billion to the company’s trajectory by fiscal year 2025.
Together with LinkedIn, Microsoft also released the 2024 Work Trend Index on the State of AI at Work, titled “AI at work is here. Now comes the hard part.”
“Generative AI tools have found widespread acceptance in the workplace, and we can see that most employees have placed their trust in AI to help with their daily workloads – without waiting to see if their organization will provide AI tools, services, or directions and guidelines for usage,” said Dhanawat Suthumpun, Managing Director of Microsoft Thailand. “It is critical that business leaders respond to this emerging trend in order to help both the organization and employees make the most beneficial impact from AI – from increased productivity and new capabilities to greater security from well-defined guidance around AI use.”
Global leader in voice artificial intelligence SoundHound AI, Inc. (NASDAQ: SOUN, SOUNW) recently announced the acquisition of key assets from Allset, an online ordering platform that connects restaurants and local customers, to fast-track its vision of a voice commerce ecosystem. Allset is a food ordering platform designed for local pick-up, providing a seamless, cost-effective dining experience that allows both consumers and restaurants to bypass the high fees charged by delivery apps. SoundHound is already a market leader for restaurant voice AI solutions, working with over 10,000 restaurant locations.
“We are thrilled to join forces with SoundHound to combine our established partnerships and marketplace expertise with SoundHound’s class-leading voice AI solutions and capabilities,” said Stas Matviyenko, CEO and Co-Founder of Allset. “From the beginning, we realized that we share the same vision for the voice commerce ecosystem that elevates the consumer experience. This team-up will accelerate our progress toward the next exciting phase of AI-powered ordering convenience.”
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
CONTACT:USA NEWS [email protected](604) 265-2873
DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. USA News Group is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). MIQ has been paid a fee for Scope AI Corp. advertising and digital media from the company directly. There may be 3rd parties who may have shares Scope AI Corp., and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ own shares of Scope AI Corp. which were purchased as a part of a private placement. MIQ reserves the right to buy and sell, and will buy and sell shares of Scope AI Corp. at any time thereafter without any further notice. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material disseminated by MIQ has been approved by the above mentioned company; this is a paid advertisement, and we own shares of the mentioned company that we will sell, and we also reserve the right to buy shares of the company in the open market, or through further private placements and/or investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
View original content:https://www.prnewswire.co.uk/news-releases/tech-developers-pioneering-ai-tools-to-revolutionize-future-productivity-and-logistics-302179189.html
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