HAMBURG, Germany, Feb. 5, 2024 /PRNewswire/ — The prominence of Artificial Intelligence (AI) is steadily increasing, and its influence extends to various domains, including journalism. Within the realm of news reporting, numerous concepts and strategies are emerging to harness the potential of AI.
However, readers are still very skeptical about the use of artificial intelligence in news media. Even more dramatic: they punish the use of AI with a massively lower Willingness to Pay. For example, the Willingness to Pay for online news drops by 30 percent when AI is used to research, process or create news.
Users also differentiate between the extent to which AI is used for news production. Depending on whether artificial intelligence is used merely as an aid or for the fully automated production of news and by whom the AI is operated, the willingness to pay even falls by up to 33% depending on the type of AI used.
This was determined by the “BSI Artificial Intelligence (AI) Think Tank” of the Brand Science Institute in a Germany-wide representative survey of 1,458 respondents. The effects of the use of AI on the willingness to pay for online news media from well-known German publishers such as Spiegel Plus, Welt Plus, F+ (Frankfurter Allgemeine), SZ+ (Süddeutsche Zeitung) and ZEIT Plus were investigated.
“For the first time, we have also researched how the input of different players who use AI – such as editors or prompt engineers – affects users’ willingness to pay,” says Dr. Nils Andres, founder and CEO of the Brand Science Institute and initiator of BSI AI.
Significantly lower Willingness to Pay for the use of AI
The survey found that 20 percent of respondents are generally willing to pay for online news. The average willingness to pay is 10.24 euros. This is significantly lower than the average market price of EUR 17.38 for a monthly digital news subscription.
Respondents who have paid for online news in the last twelve months are generally 15 percent more willing to pay.
Regardless of whether they are paying subscribers or consumers without a news subscription, the willingness to pay for news created using AI drops equally among all respondents.
Even their own experience with AI does not change this attitude: AI laypersons and AI experts show no differences in their willingness to pay.
For publishers, the use of AI represents a process innovation that can be used both to improve quality and reduce costs in the creation of journalistic content. For example, AI can be used to provide comprehensive data and trend analyses or more differentiated views and perspectives of big data evaluations. In addition, personalized content tailored to users could be provided that would be impossible for human editors to handle.
“However, the survey results show that these optimizations and quality improvements, which would be possible through AI, are not appreciated by the respondents through a higher willingness to pay,” explains Dr. Nils Andres.
Opportunities and risks for publishers
It is not just readers who are concerned about the use of AI to produce news, but also journalists. In a position paper published in April 2023, the German Journalists’ Association (DJV) calls for a careful and differentiated approach to artificial intelligence in journalism. It advocates a labeling obligation – possibly even enshrined in law – so that users can see which content has been created with the help of AI.
Even if this form of transparency and the significantly lower willingness of customers to pay for AI-generated content initially has a negative impact, can nevertheless open up new revenue potential for publishers.
“For the first time, labeling would make differentiation possible. Readers could recognize which editorial content was created by humans and which was created with the help of AI. This would allow publishers to more strongly skim off the willingness to pay for editorial content explicitly created by editors in the upper price segment,” says Dr. Nils Andres.
At the same time, publishers would have the opportunity for the first time to monetize the low Willingness to Pay in the lower price segment for content created using AI, which could not be skimmed off under previous cost and price structures.
“Through product and price differentiation, publishers could further increase the diversity of their media offerings and at the same time tap into new customer groups with a lower Willingness to Pay,” explains Andres. With AI-generated content, publishers would have the opportunity to work in areas where offers were previously not possible for cost reasons and thus upsell to traditional portals such as T-Online or Google.
About the Brand Science Institute
The BSI Group, based in Hamburg, is an internationally active institute for market research and one of the leading marketing service providers in Europe. Founded by Dr. Nils Andres, who holds a doctorate in economics, it sees itself as a knowledge transformer between science and practice. It supports companies and agencies in the implementation of innovative brand research and advises medium-sized companies and corporations.
About the BSI Artificial Intelligence Think Tank
The BSI AI Think Tank brings together future-oriented marketing experts and developers who want to reshape the landscape of AI marketing. Their credo: that creativity, efficiency and performance are the cornerstones of successful AI-supported marketing strategies and campaigns.
Survey “The Impact of Artificial Intelligence on the Willingness to Pay for Digital Newspaper Subscriptions – An Empirical Study of the German News Market”
– Germany-wide representative survey- 1,458 test subjects aged between 18 and 70 years- Results report as PDF (https://www.bsi.ag/ai/en/documents/The_Impact_of_Artificial_Intelligence_on_the_Willingness_to_Pay_for_Digital_Newspaper.pdf- All results in the overview: https://www.bsi.ag/ai/en/studien/artificial-intelligence–willingness-to-pay.html
Contact:Brand Science Institute GmbH & Co KGStadthausbrücke 820355 Hamburg, GermanyTel: +49 40 8000 84 [email protected]://www.bsi.ag
View original content:https://www.prnewswire.co.uk/news-releases/the-impact-of-artificial-intelligence-on-the-willingness-to-pay-for-digital-newspaper-subscriptions—an-empirical-study-by-bsi-of-the-german-news-market-302052813.html
Two thirds of PR Pros can’t prove their work helps their business or client: CoverageBook
Just 1 in 3 PRs track the commercial impact of their work – while 66% are focused on driving high volumes of coverage31% of PRs have seen budgets cut in the last year, but a staggering 50% of those respondents believe this would have been less likely if they could better prove commercial relevanceNew free tool ‘CoverageImpact’ helps PRs prove the value of their work and bridge this disconnectLONDON, Feb. 22, 2024 /PRNewswire/ — PR may talk the talk when it comes to boardroom relevance, but it’s failing to walk the walk. New research from CoverageBook, the leading PR industry reporting platform, shows that just one third of PR pros align their activity with commercial goals. The survey of over 350 senior PR and marketing professionals reveals a significant disconnect between how the PR industry measures and reports on activity and what senior leaders and budget holders expect to see.
This research comes at a time when clients are putting increased scrutiny on PR teams to demonstrate impact. While the industry is finally putting outdated metrics like AVE (used by just 7% of respondents) to bed – there’s no consensus on how to prove the value of PR and communications.
To help build that consensus and allow every PR to prove the value of their work, CoverageBook is launching CoverageImpact, a revolutionary free tool designed to simplify PR reporting and impact measurement. The tool aims to bridge the gap between PR professionals’ activities and their clients’ commercial goals, ensuring that there’s no disconnect between agency and client or within a business.
This is particularly important as less than half of PR professionals currently consider new biz and sales when measuring the impact of their work – just 41% of UK respondents and 34% of US respondents take the new business/sales pipeline into account. These numbers drop significantly when asked about investment generation – 14% of UK respondents and 13% of US respondents.
So what are they measuring? Well unsurprisingly, the focus is on outputs and audience, with 96% citing target audience as a key measurement criteria and 66% high volumes of coverage.
Lack of commercial proof has a financial impact
The result of all this lack of commercial certainty? Unfortunately, it’s budget cuts. When asked about their 2023 budgets, 31% of all respondents said they had seen cuts (33% agencies, and 22% in-house).
Unsurprisingly, 50% of those respondents believe this would have been less likely if they could better prove commercial relevance. Breaking that figure down clearly shows the correlation between impact proof and budget decisions, with 75% of agency respondents and 25% of in-house respondents in the UK agreeing with that statement, alongside 79% of agency respondents and 21% of in-house respondents in the USA.
Commenting on the findings, Alastair McCapra, CIPR CEO said: “These findings show how PR practitioners are putting more time into measurement and evaluation, but the lack of a common approach is costing us credibility. With one in three PR budgets being cut and a sluggish economy, we need to be more effective than ever in telling our story, and communicating the impact and value of our work.”
When asked about the biggest challenges they face in measurement, 54% of all respondents cited a lack of a universal measurement framework, while 52% mentioned a lack of measurement tools. These findings underscore the urgent need for tools that simplify measurement and reporting, making it easier for PR professionals to demonstrate the value of their work.
CoverageImpact, developed by the creators of CoverageBook and Answer The Public, offers a simple solution for turning coverage tracker spreadsheets into visually appealing ‘coverage over time’ graphics. With CoverageImpact, users can easily add impact data to their reports without the need for complex pivot tables or data visualisation skills. The tool is compatible with popular PR tools such as Excel, Google Sheets, Cision, MuckRack, TalkWalker, Meltwater, and CoverageBook, making it accessible to PR professionals worldwide.
“The truth is everybody needs to level up on telling the story of their impact; how their work correlates to organisational impact – the stuff leadership and boards actually care about. We know this is happening in small pockets, there are some case studies of PR measurement already,” said Gary Preston, CEO & Co Founder at CoverageBook. “But only a few can afford dedicated teams with Python, Excel & Data viz skills to do the job. Our aim is to democratise PR measurement for everyone to start having credible impact stories.”
In addition to simplifying reporting, the tool is designed to help PR practitioners start credible conversations with senior business leaders and budget holders, create graphs that support strategic decision-making, and save time in generating reports.
To try out CoverageImpact, visit – https://coverageimpact.com/
View original content:https://www.prnewswire.co.uk/news-releases/two-thirds-of-pr-pros-cant-prove-their-work-helps-their-business-or-client-coveragebook-302069345.html
Travel and Expense Management Software Market Size to Grow USD 15.7 Billion by 2032 at a CAGR of 18.3% | Valuates Reports
BANGALORE, India, Feb. 22, 2024 /PRNewswire/ — Travel and Expense Management Software Market Size, Share, Competitive Landscape and Trend Analysis Report by Deployment Type (On-premise, Cloud), by Organization Size (Large Enterprises, Small and Medium-sized Enterprises), by Industry Vertical (IT and Telecom, BFSI, Manufacturing, Public Sector, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032.
The global travel and expense management software market was valued at USD 3 Billion in 2022, and is projected to reach USD 15.7 Billion by 2032, growing at a CAGR of 18.3% from 2023 to 2032.
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Major Factors Driving the Growth of Travel and Expense Management Software Market
The market for travel and expenditure management software is expanding due in large part to companies’ growing use of digital solutions to automate and streamline their travel and expense management procedures, which boost productivity and cut expenses. Further propelling the market development are the growing requirement for real-time visibility and control over spending, the necessity of regulatory compliance, and the increasing globalization of companies. Additionally, the incorporation of cutting-edge technologies like artificial intelligence (AI), machine learning, and data analytics into these software programmes is propelling market expansion by providing improved user experiences, predictive capabilities, and insights.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET:
The global increase in corporate travel activities is a major factor driving the growth of the travel and expense management software market. Businesses are sending more staff on business trips, conferences, and customer meetings as a result of globalization and growing corporate operations. Organizations are adopting travel and expenditure management software solutions to simplify procedures, track spending in real-time, and guarantee compliance with corporate regulations as a result of the spike in corporate travel, which makes effective administration of travel expenses necessary.
Businesses in a variety of sectors are looking for solutions to streamline and automate their spending and travel management procedures in order to increase productivity and cut expenses. Travel & Expense Management Software reduces mistakes and eliminates human data entry duties with features including automatic receipt scanning, automated expense report production, and connectivity with accounting systems.
Accurate tracking and reporting of travel costs is mandated by strict business rules and regulatory regulations. Through the use of travel and expense management software, businesses may make sure that workers follow company policy on spending limits, prompt approval of charges, and tax compliance. The capacity of these software solutions to uphold compliance requirements and enforce policy adherence is what propels their acceptance by companies of all sizes.
Having real-time insight into spending trends and travel expenditures is essential for efficient money management and budgetary selection. Travel and Expense Management Software gives businesses centralized platforms to manage expenditure, keep an eye on bills, and instantly analyze spending patterns. The demand is driven by this real-time insight, which enables firms to find cost-saving possibilities, make educated decisions, and reduce financial risks.
Travel and expense management software is starting to need integration capabilities with current business systems, such as ERP (business Resource Planning) and HR (Human Resources) systems. Processes are streamlined, data accuracy is improved, and data synchronization across various business operations is made possible through seamless integration. Adoption of software solutions with strong integration capabilities is fueled by organizations’ preference for integrated solutions that can combine travel and cost data with other financial and operational data.
The importance of data analytics and reporting tools in travel and expense management software is growing. Companies need to know about vendor performance, policy compliance, and travel expenditure trends in order to drive strategic decision-making and maximize costs. Organizations are able to get meaningful insights from travel and spending data by utilizing advanced analytics tools that are integrated into these software packages. These tools include predictive analytics, data visualization capabilities, and customisable reporting dashboards.
The increasing popularity of cloud-based travel and expense management software can be attributed to advantages including cost-effectiveness, scalability, and flexibility. By doing away with the requirement for on-premises infrastructure, cloud-based solutions enable businesses to access software from any place or device that has an internet connection. Small and medium-sized businesses (SMEs) find cloud-based solutions especially appealing due to their scalability and accessibility.
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TRAVEL AND EXPENSE MANAGEMENT SOFTWARE MARKET SHARE ANALYSIS
In 2022, the market was led by the cloud segment based on deployment mode. This may be ascribed to the rise in developments in cloud-based infrastructure, as cloud technology offers a number of advantages including easy access to diverse apps from far-off locations, virtual reservations, and other creative solutions.
In 2022, the travel and expenditure management software market was dominated by North America. This is explained by the region’s rapid adoption of cloud-based technology. On the other hand, the Asia-Pacific area is growing faster. This is explained by the rise in small-, medium-, and large-scale technological companies in the area.
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Automating Efficiency: Saudi Arabia Warehouse Automation Market Gears Up for 14.2% CAGR, Driven by E-commerce Boom and Vision 2030: Ken Research
GURUGRAM, India, Feb. 22, 2024 /PRNewswire/ — The Kingdom of Saudi Arabia’s warehouse automation market is on a trajectory for exponential growth, fueled by a surging e-commerce sector and ambitious national goals outlined in Vision 2030. Ken Research’s comprehensive report, Saudi Arabia Warehouse Automation Market Outlook to 2028: Automating the Path to Progress, sheds light on this dynamic market, poised for a remarkable 14.2% CAGR in the coming years. This press release summarizes the key findings and offers valuable insights for investors, logistics companies, and technology providers seeking to capitalize on this flourishing landscape.
Several key factors are propelling the Saudi Arabian warehouse automation market towards a bright future:
E-commerce Boom: The exponential growth of e-commerce is driving demand for efficient and high-throughput warehouse operations, necessitating automation solutions. Vision 2030: The government’s ambitious Vision 2030 plan emphasizes logistics sector development, creating a conducive environment for automation adoption. Rising Labor Costs: Increasing labor costs are prompting companies to seek automation solutions for cost-efficiency and productivity gains. Increased Demand for Storage: Growing population and economic diversification are leading to higher storage requirements, making automation crucial for efficient space utilization. Interested to Know More about this Report, Request a Free Sample Report
Ken Research provides a detailed segmentation of the market, allowing you to pinpoint your target audience effectively:
By Technology: Automated Storage and Retrieval Systems (ASRS) dominate the market, followed by Automated Guided Vehicles (AGVs) and robots. By Application: E-commerce and retail sectors are the primary adopters, followed by manufacturing, healthcare, and automotive industries. By Solution Provider: Global players like Honeywell, Siemens, and Vanderlande compete alongside regional players like Fawaz Refrigeration and Nesma & Partners Contracting Company. Competitive Landscape:
The market features a mix of established players and emerging entrants:
Global players: Honeywell, Siemens, Vanderlande, Swisslog, and Knapp. Regional players: Fawaz Refrigeration, Nesma & Partners Contracting Company, Abdullah Hashim Abunayyan Trading Company, and Al-Obeikan Group. Start-ups: Innovative start-ups are offering customized and cost-effective automation solutions. Recent Developments:
Investment in automation: Major logistics companies and government entities are investing heavily in warehouse automation solutions. Focus on cloud-based solutions: Cloud-based warehouse management systems (WMS) are gaining traction for improved scalability and flexibility. Adoption of collaborative robots (cobots): Cobots are increasingly used for tasks requiring human-robot collaboration. Visit this Link :- Request for custom report
The Saudi Arabian warehouse automation market is expected to witness exciting developments in the coming years:
Growing demand for advanced technologies: Technologies like artificial intelligence (AI) and machine learning (ML) will be integrated for optimized operations. Rise of integrated solutions: Integrated automation solutions encompassing hardware, software, and services will gain popularity. Focus on sustainability: Environmentally friendly automation solutions will be increasingly sought after. Challenges to Address:
Despite its promising future, the market faces some hurdles:
High initial investment costs: The upfront costs of automation implementation can be a barrier for some companies. Lack of skilled workforce: Training and upskilling the workforce to operate and maintain automated systems is crucial. Data security concerns: Addressing data security concerns associated with connected automation systems is essential. Why This Report Matters:
This report empowers various stakeholders to navigate the Saudi Arabian warehouse automation market:
Investors: Identify lucrative investment opportunities across different technologies and segments. Logistics companies: Gain insights into emerging trends, optimize their operations, and improve efficiency. Technology providers: Tailor their offerings to meet specific market needs and expand their reach. Government entities: Formulate policies that support market growth and achieve Vision 2030 goals. Request free 30 minutes analyst call
By Product Category
Semi-AutomatedFully AutomatedBy Product Component
Conveyor System/ Sortation SystemAutomated Storage & Retrieval SystemWarehouse Management SystemAMR/AGVOthers (Pick-to-Light and Put-to-Light Systems and automated packaging: wedging, volume reduction, personalization and more)Automatic Identification and Data Capture (AIDC)By Automated Technology
E-CommerceRetail (Supermarkets, Hypermarket, Consumer Durables & More)3PL/LogisticsOthers (Health & Beauty, Pharma, Furnishing)For More Insights On Market Intelligence, Refer To The Link Below: –
Saudi Arabia Warehouse Automation Market
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Rise in cross-border shopping, with 58% of online purchases made from overseas vendors due to reliable shipping methods, and favorable pricing are the key drivers of e-commerce in the country. The growth of e-commerce in the UAE will boost the demand for packaging materials, especially tapes which are manufactured via MDO PET Films.
UAE Movers Market Outlook to 2028 Driven by Real Estate and Infrastructure Development and Growing Expatriate Population in the Country
Future market size for UAE Movers set for substantial growth from 2022 to 2028. Launch of over 10,000 new townhouses and villas in May 2022, with handover expected by 2025, indicating a surge in property developments and increased demand for moving services. Ongoing urban development projects, including new residential communities and commercial centers, anticipated to boost the demand for professional movers.
South Korea Warehouse Automation Market Outlook to 2027 Driven By increasing demand from end-user industries and factors such as increasing labor cost and labor shortage in the country
According to Ken Research estimates, the Market Size of South Korea Warehousing has shown increasing trend from 2019 to 2022. South Korea’s strategic location as a gateway between Europe, Asia, and Africa makes it an attractive hub for trade. The country has been actively promoting foreign trade and industrialization, attracting international companies to set up manufacturing facilities and distribution centers. This leads to an increased demand for warehousing services to support import, export, and local supply chains.
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View original content:https://www.prnewswire.co.uk/news-releases/automating-efficiency-saudi-arabia-warehouse-automation-market-gears-up-for-14-2-cagr-driven-by-e-commerce-boom-and-vision-2030-ken-research-302068838.html
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- Travel and Expense Management Software Market Size to Grow USD 15.7 Billion by 2032 at a CAGR of 18.3% | Valuates Reports
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