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Virtual Assistant Market Size to Grow USD 8613.5 Million by 2030 at a CAGR of 22.3% | Valuates Reports

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BANGALORE, India, May 2, 2024 /PRNewswire/ — Virtual Assistant Market is Segmented by Type (Fax, Media), by Application (Retail & Ecommerce, BFSI, Automotive, Healthcare).

The Global Virtual Assistant Market was valued at USD 2054.5 Million in 2023 and is anticipated to reach USD 8613.5 Million by 2030, witnessing a CAGR of 22.3% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Virtual Assistant Market:
Because of its advanced digital infrastructure and early acceptance of technology, North America is the leader in the virtual assistant business. With so many tech-savvy professionals in the US and Canada, virtual assistant jobs are becoming more and more appealing to them as flexible work options. This region’s virtual assistant platform industry is growing due in part to the presence of large technological corporations and startups. Furthermore, as companies look for affordable options for administrative help, the surge in remote work trends—particularly in the wake of the pandemic—has increased demand for virtual assistants.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL VIRTUAL ASSISTANT MARKET
The growing requirement for efficient administrative support services is driving the virtual assistant market in the BFSI sector. Virtual assistants, who manage administrative tasks including data entry, document preparation, and email correspondence, are a wonderful asset to financial firms. Their remote access to planning resources from a home office makes it easier for clients to cooperate and boosts output. Additionally, virtual assistants with specialised knowledge in banking, finance, and regulatory compliance improve customer service and operational performance in the BFSI sector.
Because they offer administrative help to companies in the retail and e-commerce sectors, virtual assistants are essential to this industry. Virtual assistants let retailers focus on their main business activities by streamlining their operations and performing tasks like inventory management, product listing updates, and customer questions and orders processing. Their remote access to common calendars and other planning materials guarantees smooth client collaboration and improves responsiveness to client requests. Because virtual assistants provide flexible support services that can adjust to changing demand levels, they can help retail and e-commerce enterprises scale.
Virtual assistants are fostering growth in the automotive industry by offering administrative support services to companies in this field. Virtual assistants help auto firms with a range of duties, such as addressing client questions, making appointment arrangements, and organising logistics for car delivery and maintenance. The flexibility and efficiency of the automotive supply chain are increased by their remote access to planning documents and capacity to work from home offices. Furthermore, virtual assistants enhance client satisfaction by offering prompt help and support during the whole lifespan of a vehicle.
The market for virtual assistants is expanding in the healthcare industry as providers look to enhance patient care and streamline administrative procedures. Virtual assistants help healthcare businesses by taking care of patient queries, organizing appointments, and helping with medical paperwork duties. They may collaborate with healthcare professionals more easily and efficiently since they can work from home offices and access shared calendars and patient information. By promptly responding to questions and concerns about healthcare, virtual assistants can help to increase patient satisfaction.
The demand for cost-cutting and operational efficiency, the emergence of software-defined networking (SDN) technologies, and the growing complexity of network infrastructures are the main drivers of the market for network automation. In response to expanding digital transformation projects and the growth of cloud-based services and apps, organisations across a wide range of sectors are adopting automation to increase agility, streamline network administration operations, and boost security posture.
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VIRTUAL ASSISTANT MARKET SHARE ANALYSIS
Due to the region’s early technological adoption and strong digital infrastructure, North America now dominates the virtual assistant industry. There is a sizable pool of tech-savvy workers in the US and Canada who are increasingly looking for flexible work options in virtual assistant professions. The existence of established tech firms and new ventures focused on virtual assistant platforms contributes to the expansion of this industry in this area. In addition, as companies look for affordable options for administrative help, the need for virtual assistants has increased due to the rise in remote work patterns, particularly in the wake of the pandemic.
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Key Companies:
OracleNuance CommunicationsMicrosoftInbenta TechnologiesSamsung ElectronicsAppleIBMIntelGOOGLE INCAmazonPurchase Chapters: https://reports.valuates.com/market-reports/QYRE-Auto-21S6075/global-and-united-states-virtual-assistant/1 
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
–  The intelligent virtual assistant market size was valued at USD 3,442 Billion in 2019, and is projected to reach USD 44,255 Billion by 2027, growing at a CAGR of 37.7% from 2020 to 2027.
–  Intelligent Virtual Assistant (IVA) Solution market was valued at USD 477 Million in 2023 and is anticipated to reach USD 798.8 Million by 2030, witnessing a CAGR of 7.6% during the forecast period 2024-2030.
–  Healthcare Virtual Assistants market size is projected to reach USD 996.2 Million by 2028, from USD 293.9 Million in 2021, at a CAGR of 18.5% during 2022-2028.
–  Intelligent Virtual Assistant (IVA) Based Insurance Market
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–  Medical Virtual Assistant market is projected to reach USD 2668.4 Million in 2029, increasing from USD 487 Million in 2022, with a CAGR of 27.9% during the period of 2023 to 2029.
–  Text-based Intelligent Virtual Assistant Market
–  Virtual Medical Assistant Service Market
–  Intelligent Virtual Assistant Software market was valued at USD 3040 Million in 2023 and is anticipated to reach USD 9636.3 Million by 2030, witnessing a CAGR of 17.3% during the forecast period 2024-2030.
–  Virtual Customer Assistant Application Market
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–  Virtual Secretary Service market is projected to reach USD 912.2 Million in 2029, increasing from USD 412 Million in 2022, with a CAGR of 10.8% during the period of 2023 to 2029.
–  OEM Voice Assistant Market
–  Virtual Shopping Assistant market is projected to reach USD 1578 Million in 2029, increasing from USD 581.5 Million in 2022, with a CAGR of 16.7% during the period of 2023 to 2029.
–  Human Virtual Assistant Services Market
–  Potential Vertical Applications for AI Virtual Assistant
–  Virtual Assistant Service Market
–  AI In Telecommunication market was valued at USD 2482 Million in 2022 and is anticipated to reach USD 19170 Million by 2029, witnessing a CAGR of 40.6% during the forecast period 2023-2029.
–  Metaverse market size is projected to reach USD 28 Billion by 2028, from 510 USD Million in 2022, at a CAGR of 95% during 2022-2028.
–  The global conversational AI market size was valued at USD 5.78 billion in 2020, and is projected to reach USD 32.62 billion by 2030, registering a CAGR of 20.0% from 2021 to 2030.
–  Conversational AI Platforms market was valued at USD 2352.3 Million in 2023 and is anticipated to reach USD 5331 Million by 2030, witnessing a CAGR of 12.1% during the forecast period 2024-2030.
–  Augmented and Virtual Reality Market
–  Virtual Fitting Room market size was USD 2973.1 Million in 2022 and is forecast to a readjusted size of USD 8501.1 Million by 2029 with a CAGR of 16.0% during the forecast period 2023-2029.
–  The generative ai market was valued at USD 8.15 Billion in 2021, and is estimated to reach USD 126.5 Billion by 2031, growing at a CAGR of 32% from 2022 to 2031.
–  The global AI Content Generation market was valued at USD 1400 Million in 2022 and is anticipated to reach USD 5958 Million by 2029, witnessing a CAGR of 27.3% during the forecast period 2023-2029.
–  AIGC Large Model Market
–  The global Digital Process Automation market size is projected to reach USD 11770 Million by 2027, from USD 6451.8 Million in 2020, at a CAGR of 8.5% during 2021-2027.
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Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

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Established market leader in stroke AI imaging receives its first FDA clearance in the lung imaging space.With this expanded foundation of AI-driven healthcare solutions, the Oxford-based company remains committed to driving innovation and delivering impactful advancements in imaging biomarkers.OXFORD, England, and CHICAGO, May 17, 2024 /PRNewswire/ — Brainomix, a pioneer in artificial intelligence (AI) imaging solutions to enable precision medicine, is proud to announce the FDA clearance of its latest product, Brainomix 360 e-Lung. Brainomix’s entry into the lung imaging space follows a series of successful clearances and widespread clinical adoption of its Brainomix 360 Stroke platform in both the US and Europe.

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

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Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan

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The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”

With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.  
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky. 
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter:  @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City 
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman 
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
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FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone  Email: [email protected]  

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