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Boards slow to unlock data-driven value in their businesses, new research finds

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Composability and AI are key to leveraging data as the essential asset needed for competitive advantage and building resilience.
LONDON, Feb. 8, 2024 /PRNewswire/ —  A new global study* from IFS and Boomi, conducted by leading IT market research and advisory firm IDC, reveals that enterprises are missing out on transformational capabilities and insights due to the combination of legacy technology platforms and a lack of Board-level understanding about the essential role of composability in unlocking business data.The study polled over 1,000 C-level respondents from manufacturing, energy and utilities, aerospace & defense, construction & engineering, telecoms and service industries across 12 countries in Europe, North America, EMEA and Asia Pacific in December 2023.

While most businesses believe they have successfully weathered the last three years’ disruption, companies highlighted that working capital and inventory imbalances (56%), as well as volatile demand (53%) and unpredictable supply chains (48%) had been their biggest challenges and where they focused their efforts. Respondents at the same time pointed to legacy applications (60%), lack of integration (48%), and inflexible/monolithic applications (43%) as having hindered their efforts and impacting how efficiently they mitigated risks, pointing to the potential costs associated with the lack of effectiveness.
The research highlights clear cause and consequences of outdated technology platforms, such as the negative impact of departmental silos (18%) and continued lack of visibility of data (24%). This suggests that companies are limited in their ability to use their data in long-term planning and that these challenges will pose a greater liability to business agility and any response to further disruptions.
With more than two-fifths (41%) of organizations lacking a composable strategy, businesses risk stagnation and mounting technical debt. Whilst the value of a composable architecture is well understood by over 70% of the respondents, these are the C-suite with business and functional responsibilities. The Board lags behind in their understanding of composability, with only 19% being clear on the value it creates and therefore pointing to a need for education and clearer business cases that highlight short, medium and long-term value.  
The research also indicated supply chain (51%), procurement (47%) and customer service and support (40%) were the top areas which stand to benefit from composability, as well as customer experience (36%) and scaling to new business opportunities (51%). The research sends a clear message to executives: in order to remain competitive, build agility and drive productivity across their entire business, composability is key. Speed to realizing value requires a strong data foundation and a mature cloud strategy as pre-requisites to the adoption of other advanced technologies. Inertia in moving to the cloud or formulating a clear composability strategy is likely to prevent businesses from unlocking the full value of AI and Machine Learning technology and extending the green shoots they are already seeing in pockets of their businesses – reduced costs (15%), faster time to market (14%), improved business planning (14%), increased agility and risk mitigation (14%).
The challenge for organizations now is to realize value pervasively, but they must overcome considerable barriers, one being the lack of executive/Board understanding (54.5%) of the value of composability, and the other not adequately progressing in their cloud journey (50%). Unsurprisingly then, the CIO and CTO are the primary champions for composability.
Alex Rumble, SVP Product Marketing and Corporate Communications, IFS commented: “Across most industries the move to cloud took considerable time to come into effect. For many organizations, security as well as the change impact on their business were weighty considerations. Composability is different, as the end state is not about technology, but about pulling together data that will accelerate leveraging AI and realizing business value faster, with benefits in speed of innovation and time to market, business-wide efficiency, and increased people and asset productivity.
Rumble continued: “Composability is a data play that enables agility and mid and long-term planning, whether that’s around investment in field assets, or capex planning on factories, or pursuing new revenue streams. The positive news is that functional and operational leaders recognize the transformational impact and now need to secure board-level education and shift in thinking in the dependency between composability and AI.”
A webinar between IFS, IDC and Boomi explores the findings in depth and is available to view here.
* Over 1,000 senior business decision makers from manufacturing, energy and utilities, aerospace & defense, construction & engineering, telecoms and service industries across 12 countries were polled in December 2023.
About IFS
IFS develops and delivers cloud enterprise software for companies around the world who manufacture and distribute goods, build and maintain assets, and manage service-focused operations. Within our single platform, our industry specific products are innately connected to a single data model and use embedded digital innovation so that our customers can be their best when it really matters to their customers—at the Moment of Service™. The industry expertise of our people and of our growing ecosystem, together with a commitment to deliver value at every single step, has made IFS a recognized leader and the most recommended supplier in our sector. Our team of over 6,000 employees every day live our values of agility, trustworthiness, and collaboration in how we support our 6,500+ customers. Learn more about how our enterprise software solutions can help your business today at ifs.com.
CONTACT: EUROPE / MEA / APJ: Adam GillbeIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7775 114 856NORTH AMERICA / LATAM: Mairi MorganIFS, Director of Corporate & Executive CommunicationsEmail: [email protected]: +44 7018 607 299
The following files are available for download:
https://news.cision.com/ifs/i/composability930x423,c3265368
Composability930x423
https://mb.cision.com/Public/855/3924456/9aee3255951f2f47.pdf
Composability press release FINAL approved0702
 
 

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CNEC Global Leap Program Debuts in Barcelona, Highlighting Seven Tech Leaps to Accelerate Intelligence

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BARCELONA, Spain, Feb. 28, 2024 /PRNewswire/ — Cloud Native Elite Club (CNEC) hosted a successful seminar titled “Leap with Cloud Native x AI” at MWC Barcelona 2024. Over 50 industry leaders and experts gathered to explore cutting-edge trends in technology and innovation for 2024, sharing valuable insights and practices of cloud native and AI applications.

Seven Technical Leaps to Accelerate Intelligence Across Industries
Bruno Zhang, Huawei Cloud CTO, emphasized the critical role of cloud native and AI technologies as driving forces for industry transformation in the intelligent era.
He listed seven key technical leaps for intelligent upgrades across industries:
Architecture: from CPU-centric primary/secondary to heterogeneous peer-to-peer architecture;Compute: from general-purpose to AI compute;Storage: from data lake to AI-Native storage;Data-AI convergence: from “Data+AI” to “Data4AI/AI4Data”;Application development: from full/low/zero code to AI-assisted/self programming;Media technology: from shooting to computing and from production to generation;Security: from cyber and information security to a zero trust approach Taylor Dolezal, Head of the CNCF Ecosystem, emphasized cloud native technologies as the backbone for AI Infrastructure, highlighting its potential to accelerate industry-wide AI adoption. “CNCF boasts numerous projects utilized by leading AI companies like OpenAI, providing the essential technological infrastructure for generative AI,” Dolezal stated. “Furthermore, cloud native projects like K8sGPT exemplify how we can leverage the advanced natural language processing capabilities of generative AI and the power of Kubernetes to drive industry innovation.”
“Cloud computing nurtures the innovation and development of AI models,” said Li Wei, Deputy Director of Cloud Computing and Big Data Research Institute at China Academy of Information and Communications Technology (CAICT). “Cloud computing offers flexible, scalable, and efficient support for these models, reducing costs and improving efficiency,” Li explained. “It also provides a user-friendly platform for model development, deployment, and utilization.”
Ms. Li highlighted the emergence of Large Model Cloud Services as a new paradigm in the cloud computing landscape. She emphasized the importance of establishing industry standards. “The standards framework for large model cloud service consists of four layers: infrastructure, models, services, and applications. This framework aims to standardize and operationalize Large Model Cloud Service with a well-structured industry system.”
Building a Solid Cloud Foundation for Data-AI Innovation and New Data Value
The seminar featured presentations from Huawei Cloud representatives and various industry leaders showcasing innovative practices across diverse sectors. They shared insights on leveraging cloud technology to accelerate data-AI innovation.
Iñaki Fuentes, COO of TravelgateX, presented their successful cloud native transformation journey with Huawei Cloud. By adopting containers and microservices, they achieved significant improvements: efficiently processing over 6 billion daily hotel searches, reducing cloud costs by 20%, enhancing performance by over 35%, and streamlining operational complexity.
Li Guo, a Huawei Cloud SRE expert, presented their deterministic operations solution, a comprehensive approach based on Huawei Cloud’s internal practices. This solution emphasizes stability and reliability, efficient resources, robust security, and agile services. Huawei Cloud offers a range of services like OES, BOS, AMS, and IMS that empower businesses to enhance O&M capabilities, achieve greater efficiency and quality, and accelerate digital transformation with O&M as a key driver.
Chong Chen, Chief Architect of Huawei Cloud GaussDB(for MySQL), stated that this service can ensure high reliability and availability across three availability zones (AZs), enabling a zero recovery point objective (RPO) and no data loss. Moreover, the entire database system can easily scale up and down and add or remove read copies within minutes to adapt to the changes in application loads without capacity evaluation or resource accommodation. Such an architecture is well-suited for database needs in the AI era.
CNEC Global Leap Program: Empowering Industry with Technology
Cloud native is becoming the new oil to fuel the global digital economy. More and more enterprises will build and grow their services on the cloud. Recognizing this trend, Cloud Native Computing Foundation (CNCF), CAICT, Huawei Cloud jointly founded CNEC in 2020. CNEC aims to address the challenges faced by organizations during cloud migration, utilization, and management. Currently boasting over 200 core members, CNEC has built a comprehensive operational system that supports more than 800 technical managers across various industries, including Internet, finance, logistics, and automotive. The community has also branched out to Europe, Asia Pacific, and Latin America.
William Dong, President of Huawei Cloud Marketing, emphasized the company’s commitment to collaborating with industry organizations like CNCF and CAICT in the AI era. Through technical communities like CNEC, Huawei Cloud aims to connect businesses with the latest global technologies, best practices, and industry trends. This initiative empowers businesses worldwide to harness the potential of cloud native and AI, ultimately achieving the leap to data and AI prowess.
Looking ahead to 2024, CNEC will prioritize the strategic integration of cloud native and AI technologies, an effort to accelerate the global adoption and advancement of AI. During the event, CNEC unveiled its Global Leap Program themed “Leap with Cloud Native x AI”, which will facilitate extensive technical exchanges, in-depth discussions, and pilot practice showcases.
Furthermore, Huawei Cloud held a plaque presentation ceremony to establish the CNEC European Branch to better serve local organizations. This initiative signifies Huawei Cloud’s commitment to collaborating with customers and partners to expedite the adoption and advances of innovative technologies like cloud native, AI, and database solutions in Europe. Ultimately, this collaborative effort aims to unlock the potential for growth across diverse industries with continuous technological innovation.
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Sendbird Unveils Easy-to-Use AI Chatbot Tailored for Small Businesses

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SEOUL, South Korea, Feb. 28, 2024 /PRNewswire/ — Sendbird, a leading communications platform for web and mobile apps, has launched its AI chatbot, designed for easy setup and tailored to help small-to-medium-sized businesses (SMBs)  in various customer-facing sectors like e-commerce and healthcare. This affordable, no-code solution aims to enhance customer engagement and support. Businesses can access an AI chatbot starter package offering features such as chatbot personas creation, knowledge enrichment, workflow integration, and performance tracking analytics, all without requiring technical skills.

Furthemore, Sendbird has unveiled a developer-centric Pro package, which simplifies mobile app integration and provides more workflows and function calls for third-party software connections. These connections empower the AI chatbot to expand its capabilities and improve the competitiveness. For instance, the AI chatbot can offer personalized recommendations for flights, accommodations, or products.
Sendbird’s no-code AI chatbot seamlessly integrates with Sendbird Desk, its in-app chat customer service solution, providing businesses with a unified sales or support desk. This integration boosts automated efficiency while maintaining a nuanced understanding of human support, leading to swifter, more accurate responses and increased customer satisfaction.
Built on a real-time communication platform trusted by industry leaders like Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, Krafton, Sendbird’s AI chatbot ensures seamless integration with both websites and mobile applications. This enables businesses to streamline support processes, save time, and allocate resources effectively, exceeding customer expectations.
Sendbird CEO and Co-founder John S. Kim emphasizes the importance of making AI accessible to SMBs, stating, “Today, large enterprises and consumer brands effectively use AI to engage with their customers. But there is no way for a small company to compete. What we aim to do with our no-code AI chatbot is to make that technology accessible to SMBs.”
To explore the benefits firsthand, businesses can access a free trial of Sendbird’s AI chat bot at sendbird.com/products/ai-chatbot. Additionally, to enhance superior customer support and engagement further, go to Sendbird Desk at sendbird.com/products/customer-support.
About Sendbird
Sendbird is the all-in-one communication platform empowering web and mobile applications with customizable user experiences. Sendbird’s cutting-edge APIs unlock the potential of AI-powered chatbots, one-way notification messages, chat, video calls and live streaming, tailored for use in commerce, marketing, and exceptional customer support. Trusted by industry leaders such as Rakuten, Paytm, Traveloka, Carousell, PayPay, Yahoo, DoorDash, and Krafton, Sendbird powers over 7 billion interactions monthly for over 4000+ applications worldwide.
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Vieworks Unveils Cutting-Edge X-ray Imaging Solutions at ECR 2024

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ANYANG, South Korea, Feb. 27, 2024 /PRNewswire/ — Vieworks, a leading provider of medical and industrial X-ray imaging solutions, is gearing up to showcase its innovative lineup at the European Congress of Radiology (ECR) 2024, scheduled from February 28 to March 3 in Vienna, Austria. Vieworks will introduce a range of groundbreaking solutions including the VXvue software with AI diagnostic support for both human and veterinary applications, alongside X-ray flat panel detectors (Hall X3, Booth 324).

At the exhibition, Vieworks will unveil a total of 19 products, featuring 15 static and dynamic flat panel detectors accompanied by dedicated image acquisition software. Particularly noteworthy will be the introduction of the enhanced VXvue software integrated with AI diagnostic support solutions. 
Vieworks’ large-format and large-area detector products (VIVIX-S 1751S, VIVIX-S 4747V) are designed to optimize full-spine, half-body, and large-area imaging, offering static image detectors capable of capturing wider area images in a single scan compared to conventional models, thereby reducing patient radiation exposure. With advantages such as high resolution and swift image acquisition, these detectors enable more efficient diagnosis.
In addition to these innovations, Vieworks will showcase a variety of its flagship products, including FPDs for general radiography (VIVIX-S V, VIVIX-S F series), portable C-arms and fluoroscopy applications (VIVIX-D series), and digital detectors for breast examination (VIVIX-M series).
Developed in-house by Vieworks, VXvue is a user-centric image processing software designed to post-process clinical images acquired through X-ray detectors. With recent enhancements, VXvue can analyze X-ray clinical images of animals such as dogs and cats, providing abnormal findings related to musculoskeletal and thoracic diseases within 15 seconds. By offering post-processing of images along with information on the location of ailments and their probability, VXvue is poised to significantly improve the diagnostic process for veterinarians.
VXvue also offers advanced solutions for human application, incorporating the ‘PureImpact™’ technology, a high-performance image processing algorithm that enhances image clarity, and AI. This enables detailed depiction of soft tissue and skeletal structures with minimal radiation exposure.
A Vieworks spokesperson stated, “This year, we will continue to invest in innovative technologies such as AI to advance our product diversification and technological sophistication. Through these efforts, we aim to secure loyalty from our key customers in North America and Europe and expand our market share.”
ECR, regarded as one of the world’s largest congresses alongside the Radiological Society of North America (RSNA), anticipates participation from over 240 companies representing 35 countries.
About Vieworks Co., Ltd.
As a global leader in digital imaging in various applications from medical x-ray imaging to industrial x-ray inspection, Vieworks offers the most advanced x-ray flat panel detectors and software as a solution to the world. Vieworks creates new standards in the imaging industry by providing professionals with the most valued and high-quality images and offering innovative vision and insight for all. For more information, please visit xrayimaging.vieworks.com.
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